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Political Darling Obama Seeks Swift Results

January 6, 2009

darling-obama“We are in a very difficult spot. The situation is getting worse,” Obama reported to stunned media pundits as he shuttled between meetings in Washington. The latest public figures put the latest economic stimulus legislation at around $775 billion currently, to be spent over two years. While he is disappointed that the bill will not be waiting on his desk on inauguration day, he wants any potential opposition to be on his side. Many Republicans seem to be sticking on the tax provisions for the nation. Today, Republicans are reported as fearful about the large size of projected tax cuts topping $1 trillion, essentially a $2 trillion proposed giveaway at government expense on borrowed taxpayer-guaranteed money.

Both parties emphasize the importance of getting the economy moving again. House Minority Leader Boehner sees the craft as most important. Like John Boehner, this writer is greatly concerned about the “craft” of this legislation too. Why?

investment-ponzi-madoffLet’s flash to the Congressional hearings today regarding the Bernard Madoff inquest. Elected officials were livid to learn that the Securities and Exchange Commission that they were talking to was not the right Securities and Exchange Commission as H. David Kotz, the Inspector General of said organization, looked on in what can only be described as a proud leering smile and countenance. The flunkies at the hearing had the wrong arm of the law as far as he was concerned. The enforcement arm of the SEC, a bastion of expertise containing no less than 2000 men and women, is held as responsible for any oversights regarding government regulation. Mr. Kotz alleges that the failure of the SEC enforcement division is responsible rather than his oversight office, which he sees as two separate and distinct bodies. The Congressional officials were dumbfounded and irate. The leadership of the SEC doesn’t consider itself responsible for being a terminally divided and ineffective organization, if you want to call it that. Therein rests the problem within our government ladies and gentlemen.

banking-oversightIf you reviewed the glorious emergency bailout legislation, also known as the Emergency Economic Stabilization Act of 2008, you had to be enthralled by the ambiguity of it all in virtually every area. Most of the text was written as if Queen Elizabeth had given a general royal decree and then exclaimed “make it so” while leaving all the sordid and yet, very vitally important details to someone else to sort out. Naturally, the nation’s problem doesn’t rest with Queen Elizabeth, but rather with the vague style of delegation that Congress generally provides for important and earth-shaking topics like money. If you need child support legislation, Congress is rife with details you never wanted to hear, but when it comes to money the Senate and House are typically vague to the point of stupidity where the rubber meets the road. Therein lies the unclear methods and indecision used when U.S. Treasury Secretary, Henry Paulson took charge of the law that Congress built. Paulson wanted a mere three pages, but even with the voluminous orders that Congress spelled out with great debate, there remains plenty of room for inept chicanery and loose ends. Elected officials were so unhappy, Paulson was only able to spend half the money because the entire premise of the legislation proposed by financial experts like Paulson and Bernanke was entirely faulty.

pelosi-obamaWhen it comes down to economic rescue, the American people haven’t been quick to jump down Obama’s throat as he is commonly seen as the one single source of inspiration for leading this country out of the impossible quagmire that Congress and the Bush Administration built with the help of the Federal Reserve, the U.S. corporate arm of worldwide central bankers that have their own quiet agenda. Instead, the American people are listening, closely watching to see the delegation style that Congress maintains as President Obama looks behind their back while cheering them on.

Will Barack Obama approve more of the same Congressional boilerplate legislation or can America expect something different for the first time in a long while? Can Barack Obama influence the landscape of elected officials enough to generate a spirit of efficiency where taxpayer money is concerned or will politics put yet another smiley face on generic, conflicting and confusing legislation? Arguably, the American taxpayer is fed up with the abuse of the system and the ineptitude of the political and corporate players to the point of fury. 2009 should be a very interesting year. ~ E. Manning

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