December 23, 2010

Obama's First Two Years - Success or failure?

"The ratification of the New Start treaty is the capstone to a remarkably successful legislative agenda for President Obama's first two years" New York Times
It truly was a success, if the measuring standard is the volume of legislation that was passed. It is not so great if one looks at what was passed.

Health Care: A major contributor to our relentlessly rising cost of health care is the choke hold that the oligopolistic corporations have on the industry. Only a handful of companies control the market. This control has a negative affect on the efficiencies of the market and its ability and/or desire to reduce price and cost. Nothing in the legislation was done to enforce anti-trust laws and bust up these oligopolies.There was a lot that should have been done, but was ignored.

In addition, this legislation took too long because Obama has not learned anything from that great philosopher Kenny Rogers when he said; "You got to know when to hold them, know when to fold them, know when to walk away and when to run." Instead, Obama stayed on the sidelines too long and lost some control.

Banking/Finance: Both Presidents Bush and Obama saved the country from a depression by reacting quickly and forcefully in the fall of 2008 to the financial meltdown. Unfortunately, sufficient steps were not taken to significantly reduce the chances of the same mistakes and abuses to happen again in the financial sector of our economy.

We still have banks that are too big to fail. The concentration of power again is in the hands of only a few corporations that have formed an oligopoly that wield sufficient power that they control the market and heavily influence the decision making, that goes on by our elected political representatives in Washington, with their campaign contributions.

Bush Tax Cut Repeal: What was accomplished? We extended the tax cuts to the wealthy that will do nothing to stimulate the economy out of the financial down turn. This extension does add to the deficit problem facing this country; as does the additional spending provisions of extending unemployment insurance, temporarily reducing employment taxes and other spending provisions. Obama effectively said to the Republicans, "I will let you spend more, if you let me do the same." In other words he caved into the hostage takers. Guess what, the hostage takers will be back.

Washington needs a leader. We have not found one yet. Obama has yet to take a stand on the recommendations of his deficit reduction committee. What is the address where I can send the lyrics of Kenny Rogers song to Obama?

Mr. President, lead. You have begun; but don't stop.

No comments:

Post a Comment