Average at best...at times rambling. Opening statement fell flat.
No way his budget is passed as proposed.
Democrats jumping ship.
Still maintaining public popularity - but not necessarily public support of policies.
Things getting a bit worrisome in Obama land...
Zogby has polled him at 50-50:
Poll of change: Obama’s job approval slipping to ‘50-50’ - BostonHerald.com
He spoke tonight. And thats about it.
I think he is going to wear very thin quickly.
This deal with Guithner, think about it.
They monetized $1 Trillion in debt to turn around and buy back $350 billion in toxic mortgages. This is like Bernie Madoff on steriods. At least Bernie got real money initially. In doing this the federal govt is printing money to cover money it already didnt have and printed.
Now, according to Mr. obama, we are going to invite investors in to buy these toxic assets. (shakes head).
A couple of problems.
1 The ONLY way this works is if these people begin to make timely mortgage payments. They couldnt do it before, whats changed?
2 The ONLY way anyone buys these will be if their principle is guaranteed. By who? Why the full faith and credit of the United States (read YOU and ME)
3 The investors have to be concerned that if they make exorbitant profits, will they be taxed at 90%?
#2 Sound familiar? This is how we got here in the first place.