Thursday, September 8, 2011

Late Night Reactions

Andrew Sullivan at the Daily Dish emphasizes President Obama's patriotic appeals in the speech and the fact he is targeting independents--I guess, like him. But his take is worth reading for someone more sensitive to the patriotism than a native born American. On the whole he feels that Obama has taken it to the Republicans.

Ezra Klein loved the speech and explained on Last Word how the tax cuts were stimulative and that taken all together if such a bill passed, the funds put in our economy in 2011 would result in a drop of unemployment by 4 whole points. This is considerable. He emphasized that the infrastructure item ,which was most significant immediately was the reconstructing schools. Often shovel ready isn't shovel ready.

Barney Frank explained that the derisive laughter heard when President Obama mentioned Warren Buffett mentioning he paid a higher tax rate than his secretary were from Republicans, who said that Buffett could voluntgarily pay more taxes. Then Frank heard a freshman Republican say that government can't do anything. He said Obama lampooning this position was actually the real position of House freshmen. Frank was pessimistic anything would get done. He said Obama can campaign around the country on this but he can bomb these people into submission.

Paul Krugman said he was pleasantly surprised by President Obama's speech and his ideas. He would have gone even bigger but he did say that the impact of the whole package on employment would be significant. He also said that it was unlikely to pass and that was both a tragedy and an outrage.

Congressman Mica danced with Rachel Maddow about whether he would go along with the infrastructure bank. He argued there were 35 state infrastructure banks that needed funding and that would be more efficient. He waltzed around the issue but you could tell he was tempted.

The head of the U.S. Chamber of Commerce actually gave the speech higher marks than I would have expected. Hed also wanted a tax amnesty of the trillions of dollars companies are keeping overseas. He also emphasized that there is $250 million from private funds available for the infrastructure bank. He also claimed the transcontinental pipeline would created 250,000 almost immediately.

Jared Bernstein, former economic adviser to Vice President Biden, was surprised by the size of the package, having believed we would be in the $300-350 million range, which he thought would help but not nearly as much. He had the idea of the refurbishing of schools.

It should be pointed out that within six days President Obama will send his debt reduction plan to the Super Committee. This will disappoint Democrats because it is likely to be significant. And we will dance around the Medicare and Medicaid issue again.

Thousands of Americans are fleeing to Canada for jobs because, according to a Michigan Republican, they take care of people there. Is there not some self-reflection here.

Jon Huntsman tweeted that it was just a regurgitation of old ideas. I suppose.

Michelle Bachmann attacked President Obama for calling Congress a "circus."

Did anyone catch Ricky Cantor trying to catch up with President Obama as he was exiting the hall? Wonder what that was about/

Could someone explain Tom Coburn to me and why he and Obama are friends. Coburn, one of the most right-wing Senators, told Obama "good job" like he really meant it.

Did anyone see Ms Lindsey Graham? Earlier in the day he proposed a national ID card and he seemed pretty well lubricated during the President's speech. Maybe he went out with the Tan Man beforehand.

I think it is interesting that the Washington types and even pundits treated this as a national political event. I think that's progress after the food fights we had at the State of the Unions.

If President Obama is going to go down, at least it will be fighting. And trust me--you will miss him when he's gone. But that's for another post. He will not go quietly into the Roger Ailes night.

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