It must be a concern that Obama’s stimulus package has passed in the Senate with only three Republican votes and only avoided the threat of being filibustered by one vote. So much for Obama wanting to build a consensus across the political divide.
Also a new bank bail-out plan worth at least $1.5 trillion has not been received well. The Dow dropped nearly 400 points. Others said this:
"It's not big enough. There are few details. The administration is trying to buy time and they don't get the fact that we need to get something yesterday," said Joseph LaVorgna, chief US economist at Deutsche Bank Securities in New York.
"Investors want clarity, simplicity, and resolution. This plan is seen as convoluted, obfuscating, and clouded," said James Ellman, Seacliff Capital president.
He is still acting in too much haste and not persuading Congress to act in a united way. He is storing up problems for himself.
Meanwhile the exit polls in Israel indicate that there will be a right wing coalition, which could well complicate matters in the push for a Middle East peace settlement.
Is he giving too much attention to Iran, wanting to have a dialogue with Ahmadinejad? His overtures for dialogue with Iran just play to the Iran President’s desire to be centre stage. Would it not be better to solely focus on Pakistan at present where the immediate threat is?
I just get the hunch that Obama is no superman as some suggested he would be.
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Actually, I don't think Obama thinks he a superman. I think he is being realistic about what he can achieve in the short term. My impression is that he is not going to rely solely on his popularity with the electorate. He is going to negotiate hard about getting his programme through. He'll give a little but stick to his "bottom line". I think he's a pretty tough negotiator but I don't know how good his team is yet.
ReplyDeleteIf he had wanted concensus then the stimulus would have been half what it is currently as John McCain pointed out. Concesus means not getting what you wante. The congressional democrats after many years of opposition where in no mood for compromise despite the President 'concensus' rhetoric.
ReplyDeleteAs for the Israeli election result. Only the european left should be surprised. A continuing (still!) rain of rockets does not make people placid negotiators.
BO is doing ok.