How's He Doing? - By Request

MHP asks: am I liking our new president?

Even trying to compensate for my rose colored glasses I think our new prez is doing a fine job. In his first week he checked several important boxes on his to do list. Those included orders to shut down the Gitmo detention site, for all U.S. employees and contractors to obey the Geneva Conventions, and for the EPA to re-review California's proposed emission's policies.

The one executive order he hasn't signed that disappoints me is one that would reverse the Bush era's ban on funding stem cell research. I understand he is working with Congress to pass legislation to this effect. It makes sense in that a bill passed by Congress and signed into law by the president would have much greater sticking power than another executive order. Buy why not both? Get the order out there, let money start to flow, and then get the law passed.

I think the first piece of legislation he signed was the Ledbetter Bill. That law effectively eliminates an unmeetable statue of limitations on civil suits in pay discrimination cases.

But the first big stuff is just getting done. The $800B+ stimulus package was signed yesterday. This bill is in uncharted waters. No one seems to know if it will work or if it is big enough. I agree with the basic concept. Private demand for goods is falling, forcing companies to cut back further reducing demand. It's an ugly downward spiral. A big influx of government spending can boost demand and stabilize and maybe even stimulate the economy. We'll see.


Just getting the stimulus passed was a big victory for the economy. But it was also, I believe, a big political victory for Obama and the Democratic Party. Here's definitely when my glasses are coming into play but I think the majority of the public is going to see the Republicans "Just Say No" attitude as obstructionist and detrimental to the country's well being. It isn't country first, but party first. It seems obvious to me and hopefully everyone else that the GOP is actively rooting for Obama to fail, for the economy to fail, for their own electoral gains.

The other stuff coming down the pike is just scary.

The on going bank bailouts. There's a gross amount of talk about nationalization of the banks (thinking I should sell BOA). Even GOP Senator Lindsey Graham (R - S.C.) is talking about it. He's effectively said we already have.

Detriot is back, hat in hand, asking for billions more. Matt Yglesias has a smart take on that idea. If we're going to pump $14B more into the companies and as part of giving them that money they are going to lay off 10s of thousands of people what are we accomplishing?

And today Obama unveiled his plan to help struggling home owners. Again I just don't know about this. My 'C' grades in micro and macro economics 18 years ago just don't equip me to make a real good call about this stuff. Even though it would be personally painful, part of me feels that the air has to come out of the housing bubble and this may be just pumping more in.

And yesterday, Obama ordered a large increase in troops in Afghanistan. On this I think I agree. We should not allow the Al Qaeda a chance to reestablish themselves. But it is a scary part of the world. It looks possible that Islamic fundamentalists could take over in neighboring Pakistan. It is very scary to think that a nuclear armed state could be controlled by religious whack jobs.

No one ever bats 1.000 but Obama is off to a strong start.