Jindal’s Response Was Lacking Credibility

It was billed as a “coming out party” for one of the GOP’s most promising young stars. But after nearly universal criticism was heaped on Gov. Bobby Jindal’s high-profile response to President Obama’s address to Congress Tuesday night, the Louisiana Republican may be wishing he had stayed home.

CNN

The delivery was too reminiscent of a Saturday morning PSA. He seemed like he was auditioning to do books on tape, or to be the voice over on a History Channel programs on geographical phenomenon. Some if the substance of his speech was on point, but the overly corney delivery took away from his argument and soured his national debut.

Obama’s First Address to Congress

I have very mixed feelings regarding Obama’s first address to a joint session of Congress last night. However, when you factor in the realities we face with his political rhetoric, I am left with no real positive outlook on his Presidency. While I, like most of those present at the speech, agreed with certain priorities that the President listed, I am afraid we do not see eye to eye on how to get there.

A few points that the President brought up that I agree with in principle: lowering the deficit, cutting wasteful government spending, tax cuts, and education, health care, and energy reform. Above all else, the federal government’s top priority should be paying down the national debt. The Republicans showed a complete lack of fiscal restraint when they held the majority. As the supposed party of “change,” the Democrats should reign in government spending, and work at bringing down the national debt. If President Obama can pull that off without raising taxes, then I can almost promise that he will get my vote in 2012.

One way to help bring down spending is to eliminate inefficient, wasteful government programs. The President has appointed a federal official to oversee the investigation into program effectiveness. I wish her the greatest possible success. However, President Bush tried for 8 consecutive years to cut dozens of wasteful programs. His proposals would have increased federal funding for programs that were proven successes, without raising the overall bottom line, by redirecting funds from inefficient and unsuccessful programs. He could not get the Republican Congress to agree to eliminate these programs, and he could not get the Democratic Congress on board either. Hopefully, Obama can trade on his currently un-earned popularity and maybe get Congress to fall in line.

Finally, Obama mentioned a strong deisre to reform our nation’s education, health care, and energy systems. I am all for reform, I just don;t believe the President and I agree on what kind of reform is necessary. I believe the only government involvement in these areas is to deregulate. That’s right, I said the very unpopular phrase “deregulate.” I think local educators have a much better idea of what their students need than a bureaucrat in Washington. I think that companies should be encouraged (though tax breaks) to provide health care plans for employees that are affordable and effective. I believe that the government should promote new research and production of alternative fuel sources, mainly through R&D grants and additional tax incentives. The key to success is getting government out of the way, not giving them more chains to tie down those in the field.

On other issues, such as pulling troops out of Iraq, I still have mixed feelings. Americans have been fighting and dying in an area of the country that seems less and less to appreciate what we have done. The cost of the ongoing conflict has brought out deficit up to unbelievable levels. The cost, both fiscal and human, is too high. However, we are over there, we have been involved, and therefore, we cannot just bailout and leave the region in a war-torn mess. We have to find a way to transfer authority gradually, helping to give the ungrateful bastards the best chance at a lasting peace.

In regards to taxes, I applaud an effort to give 95% of American tax breaks. However, that number is based on some very “fuzzy” math. The fact is, the so called wealthiest 1% of Americans are the ones paying the majority of our taxes. They are already shouldering the largest portion of taxes, and should not be subject to additional burden. Rather than taking more money from those who have it, lets focus on more efficient ways to spend the money they are already giving us. Besides, any increased costs are almost always passed down to the average consumer. that mean taxes on corporation eventually gets passed on to those consumers, who end up paying higher prices.

Speaking of corporate taxes, the President mentioned ending tax breaks for businesses that “ship jobs overseas.” I agree, in general, with the premise that companies that outsource jobs should not be rewarded for doing so. however, increased taxes means those companies are more likely to ship all of their operations overseas. Rather than focusing on how to punish those companies, we need to work on ways to encourage domestic businesses to keep jobs in the country, as well as ways to entice foreign companies to bring their operations into the U.S.

In the end, I believe his speech was well written and delivered very well. however, it lacked in substance, and it points in a direction that will only further complicate things. We need reform, and we need change, but it needs to be the right kind of change. Instead of “Change We Can Believe In,” how about “Change We Can Depend On,” or “Change We Can Follow to Prosperity.” I hope I am wrong, and I hope that the President does turn around the country. I am simply not convinces. My advice to the President and his supporters is to be very careful in how you chose to proceed, because the fate of the nation depends on the choices you make now.

Ulterior Motive

Jindal’s party is putting him on a national platform, awarding the once little-known congressman the political plum of delivering the Republican’s televised response to President Barack Obama’s address to Congress on February 24.

CNN

I can’t help but wonder if there is an ulterior motive here. I believe Jindal is qualified to give the response, and he is a very intelligent man. However, I can’t help but feel that the GOP only picked him to deliver a response to Obama’s speech because he is a minority member of the party. Moves like this are always a risk. It may have the desired effect of portraying the party as a new agent for change, or it can backfire if the normally oblivious voters recognize the move as a cheap attempt at picking up a few minority voters. Interesting move.

Why Reward Failure?

Reading the news that General Motors and Chrysler are now lining up for another $20 billion or so in government aid — on top of the billions they’ve already received or requested — leaves me with the sick feeling that we are subsidizing the losers and for only one reason: because they claim that their funerals would cost more than keeping them on life support. Sorry, friends, but this is not the American way. Bailing out the losers is not how we got rich as a country, and it is not how we’ll get out of this crisis.

NYT Article

While I am not in 100% agreement with the rest of his analysis, Friedman makes a very good point. If you absolutely have to use taxpayer money to try and jump start the economy, which I am not sure you do, then why waste it on propping up failed companies? Rather than throwing away money on those who have already showed their propensity for failure, lets give new industries, with fresh new ideas, a chance to shine. If I HAVE to give my hard-earned money away, I would rather use it give an upcoming business a shot at making it, than hand it over to someone who has already flushed millions down the economic toilet. Just a thought.

Obama Pledges More Troops to Afghanistan

President Barack Obama has approved a significant troop increase for Afghanistan, Pentagon officials told CNN Tuesday.

Aside from a few of his cabinet picks, this is the first decision that Obama has made that I agree with. While I might have a few concerns regarding the troop withdrawal from Iraq, I have said many times that I would support troop reduction in Iraq if it is done properly. I will withhold judgment until I see more details to this plan.

Still a Manufacturing Competitor

Manufacturing in the United States isn’t dead or even dying. It’s moving upscale, following the biggest profits, and becoming more efficient, just like Henry Ford did when he created the assembly line to make the Model T. The U.S. by far remains the world’s leading manufacturer by value of goods produced. It hit a record $1.6 trillion in 2007 — nearly double the $811 billion in 1987. For every $1 of value produced in China’s factories, America generates $2.50.

MSN

Despite some pretty alarming drops in manufacturing, we still are doing well, depending on how you look at it. We are producing more in areas in which we excel, while other industries are losing to foreign competitors. Its all about specialization. Good for some, not so good for others. That’s the market for you.

Wall Street Crystal Ball

The stock market doesn’t have much to hang its hat on. With the stream of corporate earnings reports waning and President Barack Obama preparing to sign the $787 billion stimulus package, investors this week will be looking for fresh clues about the economy. Wall Street has been busy focusing on companies’ quarterly numbers and the developments in Washington. Now, investors are faced with finding less obvious answers to the question “What’s next?”

MSN

Put simply: no one knows what to expect, so prepare for a bumpy road.

Is There a Correct Mix?

Does the stimulus bill include the right combination of spending cuts and tax increases? The answer is actually very simple:

  1. There is no generally agreed-upon formula for combining tax cuts and spending increases in a stimulus bill.
  2. Economic policymaking is at least as much an art as it is a science.
  3. The right ratio of tax cuts to spending increases is whatever it takes to get the bill enacted.
  4. It looks like this bill is going to be enacted.
  5. Therefore, by definition, the mix in this bill is correct.

Capital Gains and Games

Stan wrote another interesting post last week, dealing with the gap between economic theory and political reality. However, Stan’s entire argument depends on the assumption that a stimulus bill is necessary. I personally believe the right combination is tax cuts along with spending cuts, not increases. However, I am not in Congress, though even I understand cutting spending in the middle of a recession, regardless of the economic benefits, has too many political consequences. It is important to always remember every elected officials first job: to get reelected.

Only When it is Convenient

In the federal court suit filed last week, student Jonathan Lopez said that midway through his speech, when he quoted a dictionary definition of marriage and recited a pair of Bible verses, professor John Matteson cut him off and would not allow him to finish. He said Matteson also called him a “fascist bastard.” A student evaluation form included with the lawsuit lacks a score for Lopez’s speech, and reads “ask God what your grade is.”

MSN Article

I am always amazed at how people claim to subscribe to certain ideologies and beliefs, and yet turn against their own tenets when it become less convenient. So called “liberal” academics claim to be all for diversity and open-mindedness, but as soon as someone expresses an opinion contrary to their own, that person no longer has the right to express anything. Now, I know that this is an extreme case, not necessarily representative of all liberal academics, but it just goes to show that no social, political, religious, or academic group is immune to hypocrisy. People need to learn that principles only mean something when you stand by them at all times, especially when it is inconvenient.

Gregg Withdraws His Nomination

Republican Sen. Judd Gregg of New Hampshire abruptly withdrew his nomination as commerce secretary Thursday, the third Cabinet-level pick scuttled. The move left President Barack Obama without a full team to lead the government. He cited “irresolvable conflicts” with Obama’s handling of the economic stimulus and 2010 census.

This is definitely a big loss for the Obama Administration. Gregg is long time budget hawk and would have brought a voice of fiscal responsibility to the White House. The President is not doing too well with his cabinet picks.

MSNB Article.