President Obama is currently addressing Congress, and has just stated that health care reform must be done this year, that the auto industry must and will be saved, that the spending spree must continue, and that anything wrong is the fault of the prior Administration (well, that was more implied than said, but was obvious). All this, AND we'll halve the deficit within 2 years and eliminate within 6 (implying a second term). Anyone interested in the Brooklyn Bridge? All-in-all, it's a speech that promises all things to all people with no explanations as to how and what the costs will be. In other words, a typical political nothing.
A few musings along the way.
The checks are in the mail for the tax cuts: all $13 per household.
Ahh - bribery for service - a higher education for all. I'm not totally opposed as long as service is determined by the individual and not the state, and no brown shirts or jack boots are required. I'm still a little worried about that non-voluntary, as-strong-as-the-military, not-the-police, civilian 'security force' the President talked about on the campaign trail.
The markets were up for the first time a few weeks today after the Fed Chair, Ben Bernanke, managed to calm fears that the Administration is planning on a wholesale takeover of the banking sector. Instead, Bernanke implied, there would be a partial and temporary government stake in the most troubled institutions.
Note to the President: find a way to not have Nancy Pelosi smirking at the Republicans right behind you when you're trying to look dignified and Presidential. She either looks like she's in rictus, or trying not to sneer. Either way, it's really undignified.