Patterico's Pontifications

11/24/2009

Obama’s Katrina

Filed under: Economics,Obama — DRJ @ 1:11 pm



[Guest post by DRJ]

A blogger wonders whether unemployment will be President Obama’s Katrina, the event that exposed “critical weaknesses in the priorities and competence of the Bush administration.” But it’s not just any blogger, it’s a Huffington Post blogger. In fact, it’s Arianna Huffington herself:

“Which makes one wonder: what level of unemployment would it take to unmix them? Even 10.2 percent, the highest level in 26 years, after 22 straight months of job losses, doesn’t seem to have quickened the pulse of Larry Summers and Tim Geithner.

And it’s not like the levees haven’t begun to crack, with the real unemployment rate — factoring in discouraged and partially employed workers — at 17.5 percent, the unemployment rate for workers aged 16 to 24 at 19 percent, and the unemployment rate for young African-Americans at 30 percent. What’s more, the average length of unemployment is at a record high, while the ratio of job seekers to open positions is now 6 to 1.

A new ABC/Washington Post poll reported that 30 percent of Americans say someone in their home has lost a job. I’m guessing that Summers and Geithner are comfortably in the other 70 percent. But even if it hasn’t hit home for them, it should be clear that unemployment is going to be the singular issue of 2010.
***
I can hear it now: Heck of a job, Larry! Heck of a job, Timmy!”

The post also details the growing consensus among Democrats in Congress that something needs to be done about jobs and that Summers and Geithner aren’t the people to do it. But it doesn’t sound like the Obama Administration has gotten the message yet. Maybe they are too distracted from the multi-month planning of the first “state” dinner. (Click the link to see why “state” is in quotes.)

— DRJ

53 Responses to “Obama’s Katrina”

  1. “State” dinner: Well, we can’t be bothered by any of those little pesky protocol thingies, now can we?

    Also, some are more worthy of the “state” than others, reflected in the lack of GOP names on the guest list (as has been reported).
    Who knew that honoring foreign guests was a partisan affair?

    AD - RtR/OS! (8bd229)

  2. I see Obama and Michelle are staying classy. No matter what anyone said about President Bush, he remained a gentleman. Obama wouldn’t know protocol if it bit him. Is it true that they’re serving arugula?

    Rochf (ae9c58)

  3. Yes, something needs to be done. Let’s hope they also realize the difference between “doing something” and “doing something helpful”. There is some push for another stimulus, or, in other words, placating some voters by wasting both time and money, and creating only debt.

    roy (1f4231)

  4. If I say “Heckuva job brownie” is that racist? Ok then I denounce myself.

    Gazzer (f4dafa)

  5. Why would he care about people losing their jobs, he never really had a real one.

    Alta Bob (5daf3f)

  6. Gazzer, it’s not funny if you’re denouncing actual racism.

    I love how they are rolling out the huge chandelier clinton used for his tent parties.

    Why are we spending tens or even hundreds of millions of dollars on a meal for elite democrats? This is exactly the kind of crap that makes Sarah Palin so viable. I would love to see that chandelier on ebay. We are a very poor nation. We need to do more with less. Now is not the time for cinderella’s ball. Send an email outlining your foreign policy agenda, do a video conference. Obama is not the king.

    I hate to be racially insensitive myself, but this reminds me of ‘Ghetto Fabulous’ jokes. This is like a brand new BMW 750i with spinning rims and an aftermarket hydraulic suspension. I see one like that every now and then. This idea that you have to keep on pushing the envelope to prove how awesome you are only underlines such overwhelming inadequacy. I can understand why blacks here in the south want to make clear that they are financially successful, but when it goes too far, it becomes a hilarious ghetto fabulous joke, like a gold and diamond “PIMP” necklace.

    Why is Obama having these unprecedented displays during our tremendous economic hardship? This isn’t his money, but it’s his power to take it from us.

    Dustin (cf255c)

  7. Obama appoints a bunch of Goldman Sachs guys to run The Fed & Treasury. Goldman Sachs profits go through the roof while the average working stiff gets laid off. We’re supposed to be surprised?

    BTW, Just read that the FDIC Deposit fund had negative $8.2B balance in Q3.

    Bank deposits are now backed by nothing. And since the FDIC is not backed by the “full faith and credit” of the US Govt or Treasury, you may want to get out what you can, while you still can.

    william (fe3a60)

  8. “His economic team’s resistance to a second round of stimulus, “lukewarm” reaction to Congressional jobs legislation, and prioritization of deficit reduction over job creation certainly has the feel of a taking-in-the-damage-from-2,500-feet flyover moment.”

    In other words he’s acting like a Republican. Amazingly some people (very few actual economists) actually think we’d be better off without a stimulus at all.
    It’s should have been much bigger
    nytimes.com/2009/11/21/business/economy/21stimulus.html?_r=1

    And for the quote at the bottom, please note that James Glassman has a BA in Government. He may have the title “Chief Economist at JP Morgan Chase” but his job is PR.

    [I think you have your Glassmans confused, bored again. See the comment below from James K. Glassman. — DRJ (11/25/09)]

    bored again (d80b5a)

  9. LOL, the New york Times thinks we need a bigger government, Bored Again? Well, let’s get right on with another stimulus!

    The idea that some republicans do a much smaller version of these stupid things is not an intelligent way to talk about Obama’s destruction of America’s future.

    His ‘stimulus’ was not stimulating. Period. It didn’t produce any jobs. It made a lot of democrats very rich men, and that’s it. A real stimulus could have cost much less and done much more.

    Dustin (cf255c)

  10. Glassman made his bones as a Business Journo at one of the DC papers IIRC, and a steady gig on CPB.
    Doesn’t mean he’s wrong, but his viewpoint is colored by his environment.

    AD - RtR/OS! (8bd229)

  11. The comments at PD were pretty funny, but this was my favorite: “This is a ‘low cost’ yard party; bring your own 40oz and lawn chair.”
    Worth noting that Obama has now played more rounds of golf than Bush did in TWO TERMS.
    http://gatewaypundit.firstthings.com/2009/11/obama-has-now-play-25-rounds-of-golf-more-than-bushs-two-terms-while-soldiers-wait-for-reinforcements/

    But, hey, it’s all good. Party on. Maybe Michelle will break out the WWE championship belt.

    sybilll (1a48d4)

  12. Something has to be done? Another 800-billion dollar shit sandwich? Yeah that’ll sure help, I mean it’s not like Bush-Pelosi’s 200-billion dollar shit appetizer of spring 2008 failed or anything, or like the original 800-billion dollar shit sandwich didn’t fail miserably either. Oh wait they both failed. Grabbing another 800 billion off the magical money tree should work!

    chaos (9c54c6)

  13. While it’s a technical breach of protocol to refer to this as a state dinner, ISTM that it’s a good breach of protocol; the Prime Minister isn’t the head of state, but honor done to him is honor done to the people of India, and failure to honor him would be taken as an affront in India.

    aphrael (e0cdc9)

  14. Why are we spending tens or even hundreds of millions of dollars on a meal for elite democrats?

    (1) That seems like an exaggeration of the cost.

    (2) We aren’t spending the money for the elite democrats; we’re spending the money to honor India.

    aphrael (e0cdc9)

  15. “bored again” became, well, bored with other threads. This time, he attacks the background of people he doesn’t like, while studiously ignoring the background of people he likes. And strangely, it all has to do with partisan affiliation. Imagine! Another reflexive alphabetist. Who knew?

    But this one is funny:

    “…And for the quote at the bottom, please note that James Glassman has a BA in Government. He may have the title “Chief Economist at JP Morgan Chase” but his job is PR….”


    It seems to me that “bored again” also has a job in PR.

    Except he is doing it for free.

    Eric Blair (bc43a4)

  16. Well, crap! The invitation:

    The President and Mrs. Obama request the pleasure of the company of Mr. and Mrs. Pico at a dinner in honor of His Excellency Dr. Manmohan Singh, Prime Minister of the Republic of India, and Mrs. Gursharan Kaur, to be held at The White House on Tuesday, November 24, 2009 at seven o’clock,

    was just sitting there, on the stand inside the vestibule doors, and I never thought to open it. It was, after all, amongst the bills and unsolicited catalogs and other junk mail. Now that I’ve spotted it, it’s too late for us to go. Mrs Pico will be very disappointed!

    The disappointed Dana (474dfc)

  17. aphrael,

    You really don’t think this will cost at least 10 million dollars? I think it will cost well into the tens of millions of dollars.

    Have you seen the invitation list? Bobby Jindal is invited, but its basically an EXTREMELY partisan affair. If you haven’t looked at it, why tell me I’m wrong. If you have looked at it, why tell me I’m wrong?

    If you really think the purpose of this dinner is to honor India, and not Obama’s aura, then you’re missing a pretty obvious pattern.

    Dustin (cf255c)

  18. HuffPo has done a pretty fair job aggregating content that hammers on the economy this year. They aren’t cutting BHO much slack. (I should make it clear, I rarely read the loonybin stuff in the leftmost column of the HuffPo page, so maybe there’s some BHO economy apologias over there I haven’t seen.)

    gp (9ad781)

  19. Well, Dustin, at least my misplacing of our invitation will save the government a few bucks.

    The Dana who is proud to have saved the government some money (474dfc)

  20. and failure to honor him would be taken as an affront in India.

    The POTUS has taken great pains to affront just about every steadfast ally that the US has had over the past 50 years. India will be just the latest ally to be shown the error of their assumptions.

    Dmac (a964d5)

  21. “In River Oaks, Robert and Georgette Mosbacher – he was Bush’s Secretary of State for Commerce – give a convention party; Georgette, it is reported, says she can’t wait for the campaign to end ‘so that she could stop feigning populism and get out the Maserati . . . (and) the jewels’.”

    On James Glassman
    “Dow 36,000 (co-author). In this book, published in 1999, near the peak of the late 1990s stock market bubble…”
    That’s all you really need to know.

    bored again (d80b5a)

  22. We could honor this yahoo by saying ‘We honor your presence, and you are invited to sit at my table when I eat my normal freaking dinner. Bring a camera’. The White House didn’t need these tent parties for centuries. It has dining rooms inside.

    That’s more than enough. In fact, this kind of crap makes no difference in the real world. Obama bowing, all the Waygu steak in the world, and apologizing for whatnot, really doesn’t do anything. At all.

    Dustin (cf255c)

  23. “Maybe Michelle will break out the WWE championship belt.
    Comment by sybilll — 11/24/2009 @ 2:58 pm”

    So true. And if it is warm enough in the tent, she will wear something to show her toned arms.

    PatAZ (9d1bb3)

  24. What’s wrong with the president having a steak dinner?

    Emily Latella (45c8f2)

  25. Now we know, Ask early, and ask for 15% more to get what you want.

    Don Meaker (9ceac6)

  26. You don’t get it. We’re going to hit these cats up for a biiiig loan after we’ve wined and dined them.

    Hope the Bams don’t blow it with some tacky CD collection. And Michelle, please don’t wear that damnable belt.

    Patricia (b05e7f)

  27. prioritization of deficit reduction

    Is this from something in a mental ward?

    Gerald A (a66d02)

  28. prioritization of deficit reduction over job creation

    In other words he’s acting like a Republican.

    Dems always attacked Bush for allegedly ballooning the deficit with tax cuts – and generally not concerning himself with deficits (there actually is some truth in the second part of that), though based on actual tax revenues you can’t make the case the tax cuts contributed to deficits at all. A record 52 consecutive months of job growth occurred after Bush’s tax cut – the streak started not longer after the tax cut went into effect.

    Now suddenly the problem with Republicans is they’re too interested in deficit reduction and not job growth.

    Course mental ward types will always assert Republicans aren’t interested in job growth and no actual facts can intrude into their little universe. And the next time we have a Republican president who is proposing a tax cut (whenever that is), bored again types will start screaming about the deficit again.

    Gerald A (a66d02)

  29. bored again’s comments are indeed bizarrely irrational. The faux stimulus should not have been bigger, it should have been less pork and transfer payments to irresponsible state government and more actual economic stimulus.

    Otherwise, bored again’s comments can be summarized as: Squirrel!

    SPQR (4e76a2)

  30. Comment by Patricia — 11/24/2009 @ 7:56 pm

    LOL, Patricia. There were enough H-wood types there with very deep pockets, so maybe…

    BTW, no dominatrix belt tonight. The First Lady was absolutely stunning.

    Dana (e9ba20)

  31. SPQR, c’mon. The “bored again” person is indeed a bored person, clearly a student. You know the type. Just. Another. Troll.

    Eric Blair (bc43a4)

  32. Georgette Mosbacher was also the Protocol Chief for the Bush-41 WH IIRC, and her hubby was a pretty fair sail-boat racer in the day, too.

    AD - RtR/OS! (57ed86)

  33. Many of the comments about “Glassman” confuse James K. Glassman (me, with a BA in government from Harvard), exec dir of the Bush Institute and former Under Sec of State, with James E. Glassman (my almost-namesake but no relation, with a PhD in economics from Northwestern), who is a senior executive at Chase and a very smart economist. Check your facts, guys.

    [Thanks for dropping by, Mr. Glassman. Hopefully the original commenter who confused the two of you will take your fact-checking suggestion to heart. — DRJ (11/25/09)]

    James K. Glassman (bd92b5)

  34. Obama appoints a bunch of Goldman Sachs guys to run The Fed & Treasury. Goldman Sachs profits go through the roof while the average working stiff gets laid off. We’re supposed to be surprised?

    +1
    Don’t forget the SEC as well, which took on a 29-year-old fromer GS VP as its head recently.

    Another Chris (2d8013)

  35. This Glassman thing was just kinda odd. There wasn’t a clearly defined point to bringing him up, or specifying that he had a particular bachelor degree.

    Strange stuff. But really, only one person made the claim, and the others who noted it was a silly point didn’t bother to check because there’s really no reason to. It doesn’t matter what kind of cheese boredagain thinks the moon is made out of; he’s wrong.

    It’s pretty cool that Patterico is widely enough read that people come, this quickly, to straighten out the facts when they are brought up.

    Dustin (cf255c)

  36. She did look great, Dana.

    Patricia (b05e7f)

  37. zing!

    but that’s unfair. I don’t like Michelle because she’s a corrupt thug Chicago monster who took hundreds of thousands of dollars a year in a fake job, thanks to the kinds of political connections that out to go into a Mario Puzo novel. A true friend of the very ugliest people in the world.

    But most people wouldn’t withstand constant media scrutiny without looking ugly all the time. We aren’t all Palin. then again, the media wants me to believe Michelle is Jackie Onassis… and I’m sorry; she is not.

    Dustin (cf255c)

  38. It will be if the job picture doesn’t improve next year.

    JEA (b29a48)

  39. Dustin: There is nothing ghetto about either Obama. I don’t know what people driving on big rims or whatever has to do with this discussion. If you see something ghetto in the Obamas, I’d submit that’s more about you. Then again, you called it: “I hate to be racially insensitive myself …”

    I know ODS is the m.o. for some far-rightists these days, but, with all there is to criticize regarding the man and his policies, there’s no need to “go there.” He’s a very ambitious president and has given his eternal enemies and haters a bevy of legitimate issues to attack. Try some of those.

    If having a nice dinner is ghetto, then I submit a lot of people are ghetto. Count me in that number. I wouldn’t mind having a taste of those green curry prawns.

    On the other side, Obama’s regular dessert guy was on TV complaining that the dessert was not extravagant enough. Shows you how a president can’t win. 🙂

    OK, JD, there’s your cue. But keep in mind, Dustin convicted himself with his own words.

    Myron (6a93dd)

  40. myron, I think you deliberately misunderstand what the term ghetto fabulous means. It means ostentatious displays of success that fail to conceal insecurity.

    you’re too lazy to consider the argument, so you try to score a cheap shot about racism, but I didn’t say anything about Obama’s white or black lineage. No one cares about Obama’s race, except you democrats.

    Dustin (cf255c)

  41. “I hate to be racially insensitive myself …”

    Dude: It’s your own words. Unless you can get the site to delete them, they are right there for all to see.

    I’m to take from that remark that Obama’s race never entered your mind? Uh, OK. Sure!

    You can name-call all you want if it makes you feel better.

    A better idea might be to remember that a blog is not a back room or a family dinner table. It’s worldwide publishing.

    Myron (6a93dd)

  42. If you’ve read Dreams from my father, it’s clear that Obama is indeed exactly the insecure black man who would ostentatiously go too far, in a tasteless display of self promotion, to show power and prove some point that he didn’t actually need to prove in the first place.

    It’s why Obama attended Rev. Wright’s church. Black power is a reaction to the historical oppression that some blacks feel, even today, no matter what the realities around them are. I’m not even saying this is Obama’s fault, but anyone who is unaware of this trait really ought to read Obama’s books, consider his behavior, and think about it.

    I don’t think blacks are any different from whites, beyond the stigmas society instills in those who aren’t aware enough to resist them. I don’t think there’s anything racist about having this discussion. I think there’s a lot racist about demanding we can’t, because of Obama’s skin color. He is entitled to all the respect and all the criticism of any other president. This is a peculiarity Obama shows all the time, and it’s got something to do with who Obama is. Race is a big deal in his head, so it’s a valid topic.

    Dustin (cf255c)

  43. Oh, I admit that I was insensitive to the very wrong notions of ‘not going there’ when it comes to a frank discussion of race.

    I hate that this is the way our discussions are, with the true racists thinking these shields need to be erected.

    Dustin (cf255c)

  44. Seeing a posting by Myron is like coming upon an accident on the road; you know you shouldn’t slow down and look, yet…
    and then you are awash in this great feeling that,
    Thank Goodness; there is a standard for stupidity, and it doesn’t have my picture next to it.

    AD - RtR/OS! (b005ed)

  45. Dustin: That screeching sound is the sound of your argument shifting.

    So now you’re acknowledging that Obama’s race IS a factor in your assessment of how he conducted the state dinner?

    And by the way, anger among some blacks about how they have been historically treated is not de facto “ghetto.” You might be surprised that just about every black leader has at least some anger over past and present racism, even MLK. Even Clarence Thomas (you might consider reading his book, too, if you haven’t.) The issue is whether they let it define them. The best leaders don’t.

    Whether or not a black person is “ghetto” or “ghetto fabulous” or whatever, is an entirely different issue.

    But you know what, I’m not going go to make any more of a deal out of it. It’s not like a think you wear a white robe or anything. I think you were just having fun and went too far in the analogy.

    Myron (6a93dd)

  46. I thin Myron wants white people to live under a different set of rules. Not that I’m all that whitebread, to be honest, but I’m sure he thinks I look like Tim McVeigh.

    Obama is particularly careless about his discussion of race. He used the N word more times in his book than I’ve ever heard all other educated people use it, combined. He talks about asian stereotypes, white stereotypes, and how he acted in racially prejudicial ways. he actually says he chose his friends by race so as to maintain his credibility as a black man. That’s along the lines of ghetto fabulous.

    This was not a major point of view I held. I do think Obama demands everyone treat him as though he is the ultimate, super unique, ground breaking, superman. But I think the big dinner was more likely the result of an effort to give goodies to democrats and friends.

    My recent comments are simply a defense of my ability to even discuss Obama’s racial views. Obama spent 20 years in an organization that sold books on violent race supremacy, and preached the same. I hate to be racially insensitive, but sensitivities really aren’t enough to justify shutting this discussion down.

    Dustin (cf255c)

  47. You can name-call all you want if it makes you feel better.

    Said the person who calls others liars when it suits him.

    You’re a hypocritcal douchebag, Moron – F-ck off and die, you ignorant pissant.

    Dmac (a964d5)

  48. No, myron, I didn’t shift my argument. I don’t care that Obama is half white and half black. I care about his racial views, and the stigmas he places upon himself and others. His actual factual heritage is a completely separate issue.

    This is not a very complicated distinction. Is it really that hard for you to understand?

    Dustin (cf255c)

  49. Your lying was the “small” part. Your reading comprehension leaves a bit to be desired, too, I should add.

    Comment by Myron — 11/21/2009 @ 3:17 pm


    Dude: It’s your own words. Unless you can get the site to delete them, they are right there for all to see.

    Time to take your own medicine, jack-ss.

    Dmac (a964d5)

  50. “But it’s not just any blogger, it’s a Huffington Post blogger. In fact, it’s Arianna Huffington herself…”

    I’d be careful jumping to the conclusion that Arianna Huffington actually wrote anything that has her name on it.

    Pharos (f73c7d)

  51. Step one in solving the Jobs Problem:

    ANNOUNCE TOMORROW THAT HEALTHCARE REFORM WILL COST TOO MANY JOBS TO IMPLEMENT THIS SESSION and kick it out of this Congress.

    One Jobs problem that will assist will be the jobs of the dozens of Democrats who will fired should this bill become law.

    Travis Monitor (e991bc)


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