SeriousBull

New Insights in State of Union Address

Tags: 2010 elections + Congress + Earmark spending + Executive Order + jobs + obama + Pork + Taxes

On Wednesday President Obama will gave his annual State of the Union Address to the Congress and American people. The world was listening. The message was that the US already had a mountain of debt, was engaged in two wars, and had sank deep into the worst recession since the Great Depression before the current administration took office. President Obama then eloquently laid out the ’state of the union’ admonishing both parties to do the peoples business, including completing passage of the healthcare bill. The President additionally called for a Jobs bill with $30 billion directed to small business lending by community banks. To control the deficit expected to reach $14.3 billion at the end of this fiscal year ending

October 2010, the President issued an Executive Order that will freeze spending across all departments except, social security, medicare/medicaid, and homeland security commencing in the 2011 budget and the two years beyond that. Finally while biting his cheek, he criticized the Supreme Court by asking Congress to pass legislation outlawing their recent ruling authorizing unlimited corporate spending on political campaigns.

While the President said all the right things and made America proud of our heritage and what should be, the reality is that government is too big, and must cut its spending, not merely freeze it. The President said as much but this single point is where the rubber meets the road. That is, both parties are playing a game of sell my vote in compromise to bring home the pork for my constituency. The President failed to discipline his own party, and indeed made concessions himself to benefit the Unions, when he let them load up the healthcare bill with special earmarks and pork. He now needs to be a leader and issue another Executive Order that bans any earmarks and pork to favor any state or company going forward, and in particular in both the Healthcare and Jobs legislation, until we once again have a surplus. It’s regrettable that such a basic fix is ignored, particularly when the President openly acknowledged the role of lobbyists in thwarting necessary legislation.

Americans are indeed blessed to have such an intelligent and clear-headed President. It’s unfortunate however that he has so many both in his inner circle and the Congress who are there for their political agendas and not to do a good job. It’s of course naive to even make the statement, but this is a time of coming together to solve problems. American citizens and businesses are doing what’s necessary. There taking the pain and the cuts. It’s absolutely necessary that our elected government officials now do so also. Just maybe the Massachusetts Senate vote is a precursor of the people getting the message. It’s time to end looking at the budget as a cookie jar for those with influence to empty. November 2010 is around the corner and the question is the time is now America, will you or won’t you turn incumbents out and demand that our new representatives straighten Congress out.

January 30, 2010 - Economy