QUITE A MOUTHFUL

President Obama gave a major press conference on Monday night (prime-time on the east coast). He was discussing the dire straights of the national economy and the steps he feels need to be taken in order to make things better. As the Senate prepares to vote on its version of the stimulus package, Barack took to the airwaves to defend his, and he did so with more passion that usual. Although it was slightly overdue, it was another solid oratory performance. Here are some of the more notable excerpts:

It is only government that can break the vicious cycle where lost jobs lead to people spending less money, which leads to even more layoffs.  And breaking that cycle is exactly what the plan that’s moving through Congress is designed to do... 
 
Tax cuts alone cannot solve all our economic problems – especially tax cuts that are targeted to the wealthiest few Americans.  We have tried that strategy time and time again, and it has only helped lead us to the crisis we face right now...
 
More than 90% of the jobs created by this plan will be in the private sector... 
 
The plan that ultimately emerges from Congress must be big enough and bold enough to meet the size of the economic challenge we face right now.  It is a plan that is already supported by businesses representing almost every industry in America; by both the Chamber of Commerce and the AFL-CIO... It also contains an unprecedented level of transparency and accountability, so that every American will be able to go online and see where and how we’re spending every dime... 
 
My administration inherited a deficit of over $1 trillion, but because we also inherited the most profound economic emergency since the Great Depression, doing too little or nothing at all will result in an even greater deficit of jobs, incomes; and confidence.  That is a deficit that could turn a crisis into a catastrophe.  And I refuse to let that happen.

A good speech, but not without its flaws. First of all, I don't understand how the government can be the only one that can "break the vicious cycle" we're in. There are many who believe the government was directly to blame for the predicament we find ourselves in today. And although Obama later implied that Republicans and the previous administration were responsible for the mess he inherited, most experts agree that many of the problems began the last time we had a Democrat in office.

Obama justified the size of the bill by saying that it had been approved by businesses of all sectors, and union bodies. Like most 'liberals' the president is major supporter of unions who simply do not represent the American working class as we are intended to believe. Unfortunately, reporters often fail to point that out when given a chance.

As in any press conference, the fun part came when the questions began. Our new president is not as entertaining as his predecessor, but watching him interact with the press is starting to become more amusing.

The first question came from the Associated Press, and it was related to the economy. Obama talked about politicians who are philosophically opposed to any form of government intervention in financial matters. He went on to defend the massive tag on the stimulus package, adding that "it wasn't some random number I just plucked out of a hat." He said that TARP funding should be conditioned on financial restraint, but he provided no clear guidelines as to how that could be achieved. 

A couple other comments on the economy stuck out, such as his claim that "consumer spending did not get us into this mess" but banks taking on major risks. I would't argue with that, but I wouldn't dismiss consumer spending as irrelevant either - there are millions of people who simply bought more than they could afford. Nevertheless, it is ultimately the system that poses the biggest problem, and we aren't hearing of any major efforts to change the fundamental weaknesses in that system. Maybe Tim Geithner will impress, but that seems doubtful. This administration has so much on its plate that it is bound to screw up in some way.

Luckily some of the correspondents took advantage of the opportunity to ask foreign policy questions, most of which were total softballs. Even though it was coated in sugar, we heard the same stuff about Iran that W used to say. We also heard the president reiterate the importance he sees in Afghanistan, calling it a "big challenge" and admitting that he does not know how long he will have troops in there tearing it up. But the highlight of it all came when he called on veteran reporter Helen Thomas. Once again she gave him his toughest challenge and he failed miserably...

Oh well, the focus was on the economy. 

Still, I'm not feeling this president at all right about now.