Same As the Old Boss


or all the wailing one hears, especially in Virginia, about Barack Obama being some kind of radical with a socialist agenda, let’s take a reality check.

It wasn’t enough a few weeks back that many school systems in Virginia and the U.S. refused to show his speech to school kids because they feared some kind of “politicized” leftist message. This riff is also strummed in the state’s gubernatorial race where social right-winger Bob McDonnell faces a good chance of taking the position away from the Democrats for the first time in eight years.As for Barack, let’s take a measure of the man. My yardstick shows that in many ways, he’s not that much different that the hapless George “W” Bush (remember him?). A few points:
  • Obama seems to like national security secrets just as “W” and is taking measures to preserve them.
  • Obama is as tough, if not tougher, on illegal immigration, as Bush. He’s pushing a national electronic system to verify immigration status immediately and has tightened up borders. The only diference seems to be that Obama goes after employers while Bush went after the workers.
  • The meltdown of last year showed that financial services badly needs more regulation not less. Obama is backing away from several campaign initiatives, namely: a Consumer Protection Agency to protect Average Joes from predatory practices. Obama is backing down from putting teeth into the plan. True, business groups like the U.S. Chamber of Commerce are fighting the pro-consumer plan tooth and nail, but none other than Rep. Barney Frank, The Big Liberal, is emasculating the plan. Despite his populism, Frank gets a lot of financing from, you guessed, banks.
  • Credit ratings agencies like Standard & Poor’s, Moody’s and others failed miserably at reporting honestly on the derivatives, CDOs and CDSs that so poisoned the financial well last year. An S&P guy said they’d rate cows if asked. But Obama has backed away from tough regulation of these groups.
  • Former Fed Chief Paul Volcker is criticizing Obama for building in “too big to fail” guidelines into future bailouts that got Bush’s people so much criticism.
  • After the Dems dumped all over the Bushies for “the surge” in Iraq, Obama wants one for Aghanistan although he may be changing his mind.

And so it goes, if you remember that famous song by The Who.

Peter Galuszka
PS: Next time you bloggers get into financial bailouts, remember that JP Morgan Chase, U.S. Bancorp Cap One and BB&T have all paid theirs back. Citi, Bank of A and Well Fargo all still owe big time.

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4 responses to “Same As the Old Boss”

  1. James A. Bacon Avatar
    James A. Bacon

    Peter, one of these days we'll convert you — using your own arguments — to the point of view that Republicans and Democrats largely embrace the same governance philosophy when it comes to serving business and economic interests. The differences are mainly rhetorical, with Republicans giving lip service to free markets and Democrats giving lip service to social justice. But the differences affect legislation mainly on the margins.

    The real differences between the parties revolve around the culture war issues.

  2. The Who. A veritable fountain of political and economic wisdom. Smart, reasonable men. How are the four guys in the picture doing these days?

    As for Obama – it Bill Clintom, Part 2.

    Here are Clinton's approval ratings from his 8 years in office:

    That first year was pretty tough. I asssume that the disappointed libs from the end of 1993 still look back on his presidency as a failure.

    Which other presidents saw their approval rating drop below 50% during their first year in office? Harry Truman, Gerald Ford, Ronald Reagan, Bill Clinton. Reagan, Clinton, Truman? Not a bad crowd in retrospect.


    Which modern presidents went the longest into their terms before their presidential approval ratings went below 50%?

    In order of longest to shortest – Eisenhower, GW Bush, GHW Bush, Johnson, Nixon. Three out of five never saw the end of their second term. But they were world beaters early on.

    I wouldn't count Ole Barry out just yet.

  3. BTW – The worst non-criminal president in modern history, Jimmy Carter, made it 13 months before his gross incompetence and culpable negligence became obvious to more than 1/2 of the American people.

  4. …" The differences are mainly rhetorical,.."

    so ..the tea parties and the town halls were basically about rhetorical differences?


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