President Obama’s Audacity Hope (Plan) vs Reality and one term Possibility
“I love my country, so I write; the best is in Bigthink, so I write here!” Quoted from Jimmy Huntinghon of Bigthink.
On Feb. 27, 09, Prof. Krugman in his NYT column stated that “ this budget looks very, very good”, that worries me!
In 1998 Asian storm, a very famous copy-cat HKU Professor Cheung XX (Milton Friedman’s student!) open his mouth and shouted “Hong Kong Government intervene the free-market (actually it was laissez-faire , speculator and hedge fund wanton market ) will bring catastrophe!” He was dead wrong! And Hong Kong survived. This guy,
Now a fugitive hided in China, he is writing a book or article about the governmental regulated market of Communist China. Academics always worry me.
Another noted example, Chicago School great man, Milton Friedman ran a free-market experiment in Chile with the former dictator Augusto Pinochet. Most objective academics admitted, he failed Chile! And sowed a bad seed and bad name of liberal economic in South America. That paved the way of Venezuela’s Hugo Chavez took in charge Venezuela and revived the Che Guevara’s Latin revolution and resist capitalism. Another failed example of Academics.
Before come to the point of Prof.Krugman’s appreciation of Obama’s budget! Let me lead you to an imagination! After 4 or eight yrs of Obama’s Administration, I would think Obama would become a super hero, greater than any US President existed before! Because he had done the following great job: Health Care, end the Iraq war, set up the pay to play or cap and pay energy plan, change the university student-grant plan, improved education system, build up an alternative energy system including solar, wind, biofuel energy and clean coal energy, complete Hybrid car project, reduce tax plan for 95% of Americans and Increase the super rich 2% Americans for tax… OH! Wait a minute, President Obama done them all in the second worst recession period! Readers! Is it a very good budget as Prof. Krugman said? I present, you decided!
Now let me review his intrinsic factor: The Congress, President Obama’s Advisors, Cabinet members and his economic team!
In FRD’New Deal period, there are no Democrat, no Republican, from top to bottom only American, very solidarity! One voice, one nation, one goal to get out the Depression. Great leaderships in Congress at that time. Now, Please take a look about this Democratic leaders in Congress (I do not want to mention names!), they are all outplayed, outwitted, out-coached by Bush, Cheney and Karl Rove. They want war! “War”! Astronomical Money for war! “ No problem!” Water boarding! “Ah. Ok! Mr. Vice-President! Please!” Eavesdropping America! Without court approval” Reasonable! YES!”
And the Congress’ long time approval rating was lower than President Bush and may be a great possibility lower than Vice-President Dick Cheney! And now the Republican Congressmen and Congresswomen adopted Newt Gingrich VS Clinton strategy, try to say-no to every Obama’s policy! This Budget may be good! But under partisan and mediocratic Congress! Good plan may become the worst action.
Obama’sAdvsiors! Look how the fall guy Rod Blagojevich out-played them! And German Car Company Daimler spoke-person in US Han Tjan asked Obama to correct that it was Daimler invented the car not US! What a poor research! Did you Google first and go to US Library of Congress second! Mr. Advisor.
Only President Obama’s economic team and Secretary State is a fair good team! Look how the Treasury Secretary Tim Geithner shouts out “Chinese Government manipulates its currency!” Then, Secretary of State, Lady Clinton: We are in the same boat my Chinese Friend! You should buy our TB (Treasury Bill or Bond!). It is beautiful “stick” first to scare the Chinese, “carrot” second to soften with the Same- boat and economic trump human-right mentality! I love these teams! See! China will buy the TB again. After got the Chinese and Japanese nodded! President Obama ‘s 3.5 trillion Budget plan formed!
The extrinsic factor. The 2% hero, the Wall Street wise guys and entrepreneur, the fall guys: Fund of Fund, Hedge fund and Other Fund mangers! I guess most of them hate tax increase! The worst, President Obama’s budget plan does not provide motivation for their good deed (Pay tax to support the Health care plan etc.)
The most important thing is that there is lack of industry innovation and industrial revolution to sustain Obama’s plan! The entrepreneur and Wall Street wise guy in this recession period they cannot generate good fortune form business! No Internet bloom! The green industry is not yet mature. Where they can get good fortune and money to pay higher tax that Obama proposed in his budget plan? If the export shrink, that will further weaken Obama plan!
In conclusion, President Obama’s plan consists too many huge projects needed a huge of sum of money and too many goals to be achieved. However, the reality is that we are in recession and lack of industrial innovation that will decrease the corporate and company tax paid to this Government! The Congress are in divided! The extrinsic factor: the 2% hero, Wall Street wise guy and cooperate tycoon, entrepreneur lack of good motivation to participate Obama’s plan except obey the future tax code!
To me, this huge budget plan is President Obama’ s another audacity hope! He is no lose! For Americans, I do not need MIT’S super computer to run the data or Gail Trimble (Who? Google please!), I can tell Obama’s budget plan has a pretty good chance to pass in Congress after some compromises. However, is it a win-win budget for all class of Americans? May be not! As if the Harvard economic historian, Prof. Niall Ferguson said: In global recession, there will be price to pay! Apparently, Obama’s audacity budget plan may cause him the second tern. There is no surprise to see Republicans smell blood now. See, Karl Rove, Rush Limbaurg, Newt Gingrich already started the 2012 political campaign for Republican in major media, including in Fox and WSJ! Or at least, they try to isolate the 52% of family making $200,000 or more annually who had supported Obama in 2008 election.
At last but not the least, I wish Pres. Obama would concentrate one project only in this coming depression : Health care!
Good bless America!