Wednesday, September 29, 2010

Blast from the past explains why Dems are sunk

I was just poking around old posts and found the one below from back in Feb '09. A couple observations well after the fact: 1. Mark Zandi was RIGHT as rain. and 2. The Obama Administration failed miserably simply because they ignored the need to bolster our nation's confidence.

FROM FEB 15, '09:

Axelrod was on Meet the Press. He seems to have done a decent enough job laying out the case that the stimulus package will help us. Still, he wasn't upbeat enough. And David Gregory pointed out Mark Zandi's prediction that this stimulus would only produce about 2.2 million jobs vs. the 4.0 million that President Obama had promised. Mark also thinks that unemployment stays around 10% and we will need to come back with round 2 of a bigger stimulus later this year. Axelrod disagreed. I tend to side with Zandi because he does good work.

David Gregory is doing an excellent job with Meet the Press. I have been extremely impressed with his economic acumen. The man appears to be one of the best economic journalists out there. It shows in the questions he asks. He drives straight to the key issues and is quick to point out when responses don't make sense from the standpoint of common economic principals. Yep, David Gregory was an excellent choice to fill Tim's shoes.

I'm bothered about how tone deaf the Dems are to the importance of consumer and investor confidence. We are in dire need of an all-out avalanche of "happy" talk. We need the President and all of his advisers to walk, talk, act, look like we are on the verge of a massive economic boom. They need to act confident so their confidence will rub off on both consumers and investors. That's just not happening. Moods are sour, downbeat, reserved. The word "crises" continues to roll off their lips with ease. It's simply shocking to me that these guys don't get the need of an across the board boost to confidence.

Addendum in Sept '10: It WAS shocking how easy it would have been to have led our nation out of this mess by simply being more upbeat. Our President was a miserable failure on that front. He and his immediate aides walked, talked, acted as if our nation was mired in problem after problem. By turning his back on the importance of boosting our nation's mood, he lost the economic war. And the real sin? He could have accomplished this without a need to tangle/compromise with Republicans. President Obama failed to instill a sense of confidence that we would work our way out of this mess. He, and his aides, didn't even appear to make an effort - constantly scaring us with reminders of this being the biggest crises since the great depression. It was. But every time they reminded us, Americans got even more concerned. Administration officials' focus was always on the negative, as was that of President Obama. As a result, consumers closed their wallets, and our economy stayed in the tank. That's why Dems are going to get their tails kicked this year in the voting booth. They were sour pusses, and their attitudes rubbed off on America.

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