Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Monday, 02.19.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5  6  7
 8  9  10  11  12  13  14
 15  16  17  18  19  20  21
 22  23  24  25  26  27  28
 29  30  31
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Mar 04,2009
Obama's proposal, goals don't line up
by The Detroit News

Credit President Barack Obama for heeding calls to strike a more hopeful tone in his address to Congress and the nation Tuesday night. Americans needed a break from the relentless predictions of economic doom and to instead hear that things will indeed get better.

But the programs, policies and promises laid out in his speech are a mess of contradictions that the president will have to reconcile if he hopes to keep the public's confidence.

An overriding theme of the address was fiscal responsibility. Obama repeated his promise to halve the federal deficit, now well in excess of $1 trillion, by the end of his first term. Even if he does that, it will merely take the deficit back to where it was before the stimulus spending began late last year. Overspending revenues by a half-trillion a year doesn't shout fiscal discipline.

He said he would reach his goal by purging wasteful spending from government — a promise often made in Washington, but never delivered — and by ending the war in Iraq and raising taxes on the wealthiest Americans.

But Obama also plans to escalate operations in Afghanistan in pursuit of Osama bin Laden and the al-Qaida terrorists. That will eat up much of the money saved by an Iraq withdrawal.

And pledging a tax hike on those Americans who invest the most private money in the economy would seem to work against the president's stated goal of creating jobs by stimulating private investment.

For a guy who claimed not to believe in bigger government, Obama promised to make it much bigger with an array of new initiatives from energy to education. Financing those programs will require higher taxes on a far broader swath of Americans than the 2 percent of wealthiest citizens he said he would limit the tax punishment to.

While the president said his priority is putting Americans back to work, he also committed to a cap-and-trade carbon plan that would kill jobs, particularly in the manufacturing sector, and limit the country's ability to power industrial growth.

Presumably, the president will have more details when he releases his budget Thursday to back up his vow to fix the broken financial system. Tuesday night, he limited himself to pledging more regulations and oversight, with no details about how he will break the credit freeze. The lack of a detailed financial plan from the administration is eroding investor faith in its ability to handle the job and is contributing to the ongoing stock market decline.

Finally, Obama promised a "retooled and re-imagined" American auto industry. But he has entrusted that retooling and re-imagining to a Washington panel that doesn't include a single car guy, and precious few members who even drive American vehicles.

The president ought to simplify. All Americans want him to do right now is get the economy moving. Policies that work at cross-purposes won't accomplish that goal.

Reprinted From The Detroit News. Distributed By Creators Syndicate Inc.
1133 times read

Related news
Obama budget is too heavy on taxes, spending by The Detroit News posted on Mar 04,2009

Plan Obama: Pass the check by Debra_J_Saunders posted on Mar 05,2009

Obama restates tax reform efforts by UPI posted on Apr 15,2009

Obama shoots for Mars by Larry_Elder posted on Mar 04,2009

Cap-and-trade plan will hit heartland by The Detroit News posted on Mar 05,2009

Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 20 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?