Posts Tagged ‘Obama’

Middle Class Peanuts

Monday, January 25th, 2010

The Administration’s back with another round of minor, pointless middle class handouts.

We’re all pretend populists now!

A child care tax credit? Great if you have income, not refundable if you’re unemployed.

Allowances for caregivers? Wow, $102 million, less than 20% of a Citibank trader’s bonus, guess we’ll all be better off throwing grandma from the train.

Student loan caps? More people can go to school, graduate, and be unemployed, now that’s an outcome devoutly to be wished.

Meanwhile, things like health care reform, which would immediately benefit millions of people, or aid to the states, which would prevent millions of teachers, police officers, and fireman from being laid off, seem to be stuck in a doom loop of Democratic fear and Republican obstruction.

Meanwhile, the deficit, which should be climbing since the federal government is about the only place left in the economy where demand can be created, has become the latest bugaboo.

Meanwhile, the Fed does absolutely nothing about unemployment, nonexistent inflation is what makes phony hawks fly.

It’s difficult to know what to say about a government that doesn’t govern, leaders who don’t lead, and a citizenry that vacillates between pig ignorance and anger as their dreams, livelihoods, and families are destroyed.

Gorilla says: “There are more elephants in the room than we care to imagine, and the dung will keep rising steadily to the top!”

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Quote Of The Day

Friday, January 22nd, 2010

“I think it is absolutely true that what we did this year didn’t produce the kind of breakthrough that we wanted and if we had anticipated some of these political problems on both sides earlier, we might not have raised expectations as high.”

The speaker is President Obama, but a more difficult task for the casual reader is figuring out which lack of breakthrough and which high expectation raising he’s talking about:

Climate change? Nope.

Health care reform? Nope.

Reining in Wall Street? Nope.

Afghanistan? Nope.

Unemployment? Nope.

Iran? Nope.

Nuclear non-proliferation? Nope.

North Korea? Nope.

Gorilla chimes in: “The correct answer is peace between Israel and the Palestinians, and alas the President’s not any more serious about that than he is about any of the others!”

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Plutocrats 2, America 0

Thursday, January 21st, 2010

It’s clear now that health care reform is finished.

The Democrats don’t have the votes in the House to pass the Senate version of the bill.

Absent a firm commitment to use reconciliation, the White House has effectively signalled that it’s giving up; starting over as they now suggest means more time wasting and more defeats at the polls in 2010.

It’s a shameful performance and a failure of leadership that guarantees President Obama will serve only one term.

And now that the Supreme Court has enabled America’s plutocracy to control the campaign finance process, the middle class can look forward to another 35 years of nothing.

Gorilla sums it up: “No hope, no change, all bullshit, it’s business and politics as usual!”

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The Right Ideas On Banking

Thursday, January 21st, 2010

President Obama has at last decided that something needs to be done about large US banks.

His ideas, to limit proprietary trading, while giving regulators the power to break up “too big to fail” banks and forbid excessive risk-taking, come straight from former Fed Chairman Paul Volcker, perhaps the only senior figure on Wall Street or in the Administration with any credibility on this issue.

Whether these ideas can be passed by a Congress that’s wholly owned by Wall Street remains to be seen, but it’s good to see the President recognize that the financial services industry has not been doing much to reinvigorate the floundering US economy.

Gorilla says: “Now if the President would also propose a public works program and guarantee the states’ debt for three years, you could say he finally gets it!”

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The Peanuts Financial Responsibility Fee

Thursday, January 14th, 2010

$117 billion over 10 years in new fees for the banks or until the TARP’s paid back?

Surely, our President must be joking!

The taxpayer’s on the hook currently for several trillion dollars in loan guarantees, hedge fund managers are still paying only 15% tax on their incomes, and Helicopter Ben remains in the sky showering the banks with cheap money for their next bubble.

Oh, and the longer-term fiscal outlet is dire, there’s little or no chance of the Congress raising taxes, or cutting back spending on things like the Pentagon and health care, but boy, nearly $12 billion/year or 0.004 percent in new revenue will be coming into the coffers of a Treasury that spends $3 trillion/year!!!

Gorilla asks: “Why not go for a toaster and a coffeemaker, too?”

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Surf’s Up

Thursday, January 14th, 2010

And Democrats will be drowning, unless they get serious about unemployment!

The Administration’s still in permanent campaign mode, while the Fed is fighting nonexistent inflation, and the US economy is starting to look very Japanese!

Gorilla says: “No drama Obama is getting his head handed to him!”

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Refreshing If Unchanging

Friday, January 8th, 2010

Refreshingly, the President took responsibility for the multiple intelligence community failures behind the underwear bomber’s attempted terrorist attack.

Unchangingly, the President seems to be making a distinction between accountability, which he accepts, and blame, which he does not wish to dole out. It’s a distinction without a difference when it comes to actual policy.

These failures were clearly firing offenses, or at the very least required a degree of professional integrity that might offer resignations if you happened to be the head of the CIA or Homeland Security.

Instead, there will be lots of scrambling, lots of money wasted on air marshals and body scanning machines, and the odds of a similar attack being successful will be the same: about 11 billion to one.

The President seems to be a grown up, but he’s allowing the frightened children of an immature nation to make policy, so it’s difficult to see what lessons were learned in this fiasco.

Gorilla says: “Bring on the responsibility and bring me the heads on sticks!”

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Dots Don’t, Lead Won’t

Tuesday, January 5th, 2010

Success has a thousand fathers and failure is an orphan

But none of ‘em get fired!

Gorilla says: “I tolerate everything and accept nothing, unless it’s the other way around!”

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A Systemic Failure To Get Real

Tuesday, December 29th, 2009

Our President’s not very happy about the Detroit wannabe bomber!

Yep, it’s a systemic failure, demanding explanations, promising accountability and leading absolutely nowhere near reality.

Bottom line, trying to stop one lone terrorist is like trying to find a needle in a haystack.

Our government spends trillions on defense, it’s certainly the biggest middle class jobs program for the lucky employed, but can’t manage to overcome a few thousand bad guys with lots of time on their hands, the ability to create explosions, and a ready stable of suicidal young men and women who have no future.

The President should be saying clearly that terrorism is not a serious national security threat, and never has been, but that goes against the bipartisan narrative of fear, defense contracting, and just wars that gave America a lost decade of torture, lying, and economic disaster.

We’re still a country in arrested adolescence, it would be nice just once if our leaders decided to grow up, but don’t hold your breath!

Gorilla thinks: “The odds of a successful terrorist attack are far longer than the odds that house prices will recover in Detroit, but we don’t give a shit about our own people suffering, we’re too afraid of the other guy’s revenge fantasy!”

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Blog On Hiatus

Friday, December 18th, 2009

Gorilla’s had a few personal issues this week, so the blog is on hiatus, will likely resume next week.

Gorilla does feel a bit vindicated by his predictions that 1) Copenhagen would go nowhere because it was more in everyone’s interests to do nothing than to do anything, 2) Health care reform would be a very minor league deal indeed, if it even passes, and 3) no one among our leaders cares to do a damn thing about 10% unemployment.

Not that these are triumphs, just reflections on how backward America has become.

Gorilla also thinks it’s even money at the moment that Obama will be the next Jimmy Carter, one and done.

“Be back soon!” says Gorilla.

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