9:02 pm Getting ready for FV’s liveblog session for a historic speech once again. Seems like President Barack Obama keeps making these types of speeches. But his first State of The Union is crucial. His ratings have gone down, especially as to how he is handling the economic situation.
9:05 pm The economy should be the main focus tonight. According to his staff, Obama burned the midnight oil on this one, like he usually does with major speeches. He’s going to have to go the center route once again on this one. To get much of his goals through, he’ll still need Republican support.
9:06 pm President Barack Obama enters. Harry Reid following him.
9:09 pm At the end of the speech, will he say the “State of our Union is strong”? He shakes Biden’s hand, Pelosi’s hand, and now he faces the crowd.
9:11 pm Recalls the times when strength of union was tested.. “Again, we are tested, and again we must answer history’s call”. A year ago, Obama says “we acted” regarding the recession. But economy is still burdening America’s families.
9:17 pm “Some are frustrated and some are angry”. He’s talking about the economy, why Wallstreet has bounced back, but why mainstreet is still struggling. This is a good start, acknowledging the trying times of Americans. “I have never been more hopeful of America’s future, than I am tonight”, because he sees the resilience of Americans. “Our union is strong”, he says it right out of the bat.
9:21 pm If there’s one thing that united them all is that they were against the bank bailout. “It was as popular as a root canal”. Lightens up the mood a bit. Biden laughs, he laughs a bit. He mentions that in order to recover the money from the bank bailout, he has proposed a “modest fee”. Because if Wallstreet can afford big bonuses, surely they can afford to pay these fees in order to pay back Americans.
9:26 pm He mentions his tax cuts, no applause from Republican side of the house. “I thought I’d get some applause on that one”, remarks Obama. He gets a laugh, and smiles himself. Mentions the positive aspects of “The Recovery Act” or the Stimulus bill. “After two years of recession, the economy is growing again”. He segues into jobs, and calls for a new “Jobs Bill” tonight.
9:30 pm “We should start with small businesses”. I agree, small businesses and shoring them up is important for the economy. He eludes to the fact that banks are not giving the financing to small businesses that they need.
He proposes that $30 billion that was recovered from the banks who paid back, go towards helping finance these small businesses. He proposes a New Small Business Tax Credit as well. Tax breaks for companies that create jobs within The United States.
9:34 pm He urges both houses to get to work on the jobs bill. Democrats get rowdy. And start to clap.
“I do not accept second place for The United States of America”, this is with regards to putting in the infrastructure for a growing economy. Proceeds to how the economy can grow: (1) Serious Financial Reform, (2) Encourage American Innovation, need more production, more incentives for clean energy jobs. Developing offshore areas for oil and gas development, coal technology, safe and clean nuclear technology, and it means passing a comprehensive climate and energy bill.
9:41 pm “The nation that leads the clean energy economy will be the nation that leads the global economy, and America must be that Economy. (3) We need to export more goods. We will double our exports within the next 5 years, and increase that will support more jobs in America. “We have to seek new markets aggressively”. We need to enforce trade agreements and strengthen trade relations. (4) “We need to invest in the skills and education of our people”. In the 21st Century, the best antipoverty program around is investment in good education, says Obama. Urging Senate to pass a bill that will revitalize community colleges because High School diploma is not enough. Proposes $10,000 tax credit to families for 4 years of college, instead of paying subsidies to banks who provide student loans. “In the united states of America, no one should go broke just because they chose to go to college”.
9:45 pm President Obama mentions housing market, helping home buyers, then segues to Health Insurance Reform. Uh-oh, here’s a tough one. “Now, let’s clear a few things up”. Took up health care not because it was “good politics”.
9:50 pm Aww, he mentions his wife, First Lady Michelle Obama who’s leading the initiative against childhood obesity.
He admits that this is a complex issue. He takes his share of the blame for not explaining it well to The American people. “I will not walk away from these Americans”, regarding health insurance difficulties faced by those denied coverage, small businesses dropping health care altogether.
He challenges, that if anyone from either party can provide a better way to cover the uninsured, stop Health Insurance company abuses, cut the deficit, etc., then he’s open to suggestions. He challenges, to not walk away from Health care reform.
Segues into deficit and the national budget.
10:00 pm Families across The United States are tightening their belts, the American government should do the same, says President Obama.
And now he mentions his spending freezes, a three year program. As we mentioned, Medicare and Defense will not be affected. The cost of medicare, and medicaid, and social security costs will continue to increase.
“We face a deficit of doubts”, mentions the credibility gap of Washington. Says we need to give our people a government they deserve.
Time to disclose lobbyist ties. he criticizes Supreme Court decision of last week, where they decided that corporations had the right to fund campaigns without restriction.
10:04 pm Acknowledges deep divisions between the parties. “what frustrates the American” is that in Washington it seems every day is campaign day. Rebukes both parties who hold hostage key confirmations, because of pet projects by certain Senators. He will not give up to try to change the tone in Washington. Challenges democrats, “The people expect us to solve problems, not run for the hills”. Also rebukes Republicans, “just saying no to everything may be good politics, but it is not good leadership”.
“Let’s show the American people, that we can do it together”.
10:07 pm President Obama goes into security, Afghanistan War. “There will be difficult days ahead, but I am absolutely confident that we will succeed”.
10:10 pm Mentions supporting troops not just in war, but when they come home. Mentions their focus on national commitment to support military families.
“Even as we prosecute two wars”, he acknowledges the threat of nuclear weapons. Mentions reducing nuclear stockpiles, also mentions a clear goal of securing nuclear weapons and material around the world within 4 years, which will be the goal this year of 44 nations that will meet this year.
Mentions Iran, “they too will face growing consequences”, “that is a promise”.
10:15 pm President Obama emphasizes that America is still a global leader, both in environment, humanitarian activities, and the promotion of human dignity. He mentions the great work of 10,000 Americans who are helping with Haiti Humanitarian relief. “Abroad, America’s greatest strength has always been its ideals”.
With regards to ideals, President Obama eludes to the “don’t ask, don’t tell” policy in military. Equal pay for women. We should continue to work on fixing the broken immigration system. “In the end, it’s our ideals, our values, that built America”. “Values that drive our citizens still”.
10:20 pm “I campaigned on the promise of change”. “Remember this, I never suggested that change would be easy, or that I could do it alone”. Makes distinction on making the tough choices, either do the actions that keep the poll numbers high or do what is right for the people.
President Obama acknowledges political setbacks this year, but says that it is nothing compared to the setbacks of regular Americans. Despite these setbacks, American resilience lives on he says.
“We are strong, we are resilient, we are American”, he mentions this woman he met who said that to him.
“We don’t quit, I don’t quit, let’s seize this moment, to start anew, and to strengthen this union once more”
10:25 pm That was a long speech. Ambitious and strong. This was good. He goes indeed, towards his goal of jobs, health care was not mentioned until middle of speech. But still he realizes the importance of passing a health care bill.
10:29 pm Republican response will be coming soon.
10:35 pm Governor Bob McDonnel (R) Virginia will make the speech for The Republican Response. Encouraged by President Obama about the need to create jobs.
“What government should not do is to pile up taxation”. He says the government is just trying to do too much. He says that government said they would keep national unemployment below 8%. Also acknowledges deficit. He says that spending freeze that President Obama proposed is laudible, but is not enough of a step.
“We want cooperation not partisanship”. There is much common ground with regards to Health Care. He mentions that Republicans have also introduced their own health care proposals.
He mentions that these proposals are available at http://solutions.gop.gov
10:42 pm He mentions education. He agrees with Obama on education.
He also acknowledges defense and security, and applauds President’s decision on deploying 30,000 more troops to Afghanistan. Disagrees with decision by Administration that gave full rights to the terrorist that tried to detonate a bomb during a flight towards Detroit, back in December.
“Government closest to the people, governs best”, says Governor McDonnel. Says that America should come together.
Popularity: 3% [?]
Governance has to be modernized.
Put simply, the trend of new public management injects changes in the relationship between the state and the market.
State bureaucracies have been perceived in recent memory as defective, wasteful, and ill-equipped. Thus the market is better equipped than the state to provided most goods and services.
I do suggest that Obama introduce into the ‘state sector the entrepreneural disciplines of the market-place’.
Obama’s Anthems
• As any concern U.S. Citizen, I have listen, and listened well. Here are my few EXCERPT’s.
• The Plunder words here: “…and we’ve recovered most of the money spent on the banks.” Our government, will never recover that money spent, which was called The Stimulus package. And the biggest banking industries were the one profited, due to Bonuses kickback they’ve recieved from the stimulus package. That the Obama’s administration offered.
• Here’s another Plunder words:
• And, Obama proposed to recover the rest of the loan from the biggest bank. I wonder if that would be, the Federal Reserve Bank. Also, if these Plunderer stop printing money for a moment. We wouldn’t be in Trillions of Dollars in debt, from the get go.
• Obama, you are breaking my Heart! If you didn’t offer the Stimulus Bill from the get go, these CEO would not have any BONUSES to hand out to their Cronies.
• Are you saying, we tax payer getting reimbursement in our pocket for the Stimulus Package Bill you offered, not we[the tax payer.]
• I better stop here. This is pissing me off.
Mario,
I fear your normally crisp thinking has been subverted by irrepressible conservative irrationality. Plunder is an illegal action for private benefit. Mr. Obama is a public servant representing a good many people who broadly disagree with you. But many of these these people are stuck in a time warp shaped by the reality show, sound-bite environment that you and I contribute to with our half-baked blogrants.
The stimulus package was hatched under Bush and run by essentially the same people that Obama held over from the Bush administration. Mr. Obama merely brought in confidence, which Mr. Bush could not. The obtuse, with political axes grinding away, refuse to acknowledge that this program stopped the economic reactor from imploding and melting your job and my pension plan right along with it. So a little thankfulness would go a long way to righting your balance, and the balance of the disingenuous. It might also cause you to tuck your temper back into its knapsack.
Second, the main problem of the banks was risky trading of assets that melted down, to wit, derivatives from housing mortgage paper, a bubble that popped and left no bank confident of any other bank. So, the reactor core froze up. Banks refused to lend to anybody. The stimulus program got it unstuck and loans are now starting to flow again. The stimulus package was brilliantly successful.
Now to the time warp. Unemployed people want jobs now. Mr. Bush had eight years to muck things up, running up a deficit of some 11 trillion, and now people unrealistically expect a short-term solution to a long term problem. Give economic realities and Mr. Obama a little consideration. In three years, the US will be ready to re-elect a great American president.
Joe
That’s the spirit Joe, my friend, your optimism so contagious though not shared by much of your compatriots.
I am seeing some handwritings on the walls for President Obama: the sagging approval and popularity ratings, the debacles at the recent local elections, the seeming ineffectual governance, the prolong stalemate in the discussion of the Health Insurance Reform Bill inspite his party’s huge majority number, and very recently, Hillary Clinton’s announcement of abandoning his ship after his first term.
Yes, I think u may be right, Joe. People r getting seriously antsy around here but I know these things take time… But the market has been steadily improving, except for the latest dip because of his pushback on the banks recently…
I don’t know if I am getting the right frame in this health care debate, aka, socialized health care. Some American friends think that if you want health care you must get a job and pay your own health benefit or your employer does. If you are unemployed you do not get any and therefore if the government will provide it for you, then the government must source the payment for your benefit somewhere else. Meaning it must tax those who are working in order to pay for your health care.
I have also some American friends who because they were neglected by their parents when they were young have suffered for asthma or other form of illnesses. Before reaching 30, they have applied for disability because of their illness. They got pension at young age, while the immigrants and other Asian-Americans like me are still working past 50.
I’ve got a feeling that some Americans like Obama for his way of treating the underprivileged, unfortunately, it has a way of encouraging irresponsibility and mendicancy. I have serious doubt if this has something to do with the American dream.
Bert,
The trouble is not that those of us who voted for Mr. Obama expected Jesus Christ. We expected an intelligent, diplomatic man, earnest of intent, and high of principle. It is the critics who cannot live with less that Christ. We patriotic democrats got what we wanted; the patriotic republicans are doing their best to tear it down.
jcc,
Health care is important if you or a loved one are sick. For the rest of America, it is one of those sticky issues they would rather not deal with. Civic servants have an obligation to work on the problems (unaffordable or unavailable care, and knee-jerk insurance policies) whether it is popular or not. I snooze through it, as I have the Philippine health care system available to take care of my needs.
Joe
it doesnt mean that americans with no insurance cannot get healthcare. It’s a Federal law to punish a hospital to deny care for emergency treatment. Also many americans who have health insurance do not mean , healthcare is free or affordable because billing charges on a certain procedure is different from the healthcare business entity versus what a health insurance company pays. The most common reason of american bankrupcy is medical bills.
With the current reform, employment in the insurance industry is ?????. i cannot put my finger yet. I have a big job to do but the pay sucks..
joe,
Thank you for popping my overly exasperated balloon, and settling me down back to earth. To the Obamanation supporter. True that he was handed down with the deficit burden, which the Bush Administration inflict during the funding of Iraqi war. But, the most devestating consequence, was the banking industries home loans. Which, defunct the home owners with their bad loans. This default loans escalated a whole new meaning and created a toxic asset, that the banking industries was unprepared for.
I hate to say to you Joe, that the Democrats Administration was the one that initiated the CRA “Community Reinvestment Act” Which, was pass by yours truly Bill Clinton. ( I believe it was in 1995)
Also Joe, you are Korek! and I really hate to say, and as a Republican, yes the Bush Administration was the one created this economic mess for our Great Nation. You happy now!
Mario,
Hey, glad to be of service, young whippersnapper.
I was engaged in our bank’s legislative “dialogue” at the time that CRA was passed. It was a pain in the patootie, indeed, to implement, but it has encouraged banks to make loans and even gifts to under-served communities. I think it re-set their social awareness in a very good way.
Gadzooks, a republican I respect. What is the world coming to?
Joe
Great Speech by Obama. Filipinos should be concerned when Obama emphasized increase taxation to corporation who outsource jobs overseas. Nick forgot to write it here.
Obama also mentioned about reforming policies on trade and immigration which mean that immigrant visas and yearly qoutas may further decrease. Trading partners and importing of goods may also decrease or high taxation to non US product.
And he said, China is not waiting for things to happen. He also mentioned India.
What about our filipino candidate? Have they understood the consequence of a protectionist policy?
A filipino president is nowhere near to Obama’s excellent speech. I wonder how will the Philippine improve when almost everyone in office are corrupt. Obama mentioned about earmark expenses and specific breakdown of cost must be disclosed and transparent on a congressional website so that american people will know of where tax money are spent.
In Philippines, pork barrel is hidden and most members of the house and the senate are getting richer. kawawa ang pinoy…
The Philippines is Asia’s most corrupt…
Obama gave a good speech; Obama had always been one of the best speakers among those who ran in the last USA elections. USA candidates for president have their individual list of priority things that they propose to have done when elected president, and the USA voters know these action items when they cast their votes.
Obama said “US troops out of Iraq”, which he is about to get done. Obama said “JOBS”, which he has not gotten done so he is saying it again as his promise for year 2010.
It makes me wonder what Pilipinas May2010 presidentiables are saying — what do they propose to do if they they replace GMA as next president other than replace GMA as next president? I know NoyNoy said he will put more resources to pursue Marcos wealth, but has he and anyone else said “I will increase the budget of the Justice Department in order to track the thieves and the corrupt in government service.” Has anyone said about “I will work with Congress to turn the Reproductive Health Bill into law”. Has anyone said “The current administration’s neglect of our schools will end. I will add ten thousand more teachers to our elementary and secondary public schools.”
They will when the official campaign period starts. :-)
MIke H,
In Obama’s speech today in Tampa, he made another emphasis that Americans must be provided with an affordable college education. He pointed out that a college graduate is less likely to engage in drug addiction and are more willing to work. A non college graduate is more likely to fall prey in drugs , has low income , no health insurance and more likely unable to compete in the job market.
In Philippines, affordable College education is not a common knowledge but a forgotten issue. Politicians cannot even find alternative solution or financing for educational infrastructure especially toilet facilities, classrooms, books, IT and teachers. The quality of education reflect what a third world country stands for.
None of the candidates in Philippines has grasped the concept that a higher educated workforce is the best cure of poverty.
The Philippines needs more lawyers, teachers, doctors and policemen. These professionals are basic for economic growth.
Farmers must be subsidized to feed the whole country.
i can go on and on.
This is what I am saying. A President who is long on rethorics, but
short on details. We are still in Afghanistan and Iraq. Now Somalia and Yemen are being in Al Queda’s lists. The Terrorists still have a field day scaring people. The U.S. is in trillion dollars in deficit. People still losing jobs.
Where is the economic recovery, he promised?
mariano,
My stocks are up 95% since April 2008. What part of economic recovery are you not seeing?
Jobs?
Companies have to see steady growth and assured opportunity before they add people. Ford is adding people, back from the brink. It took decades to build the bubble to lead to a collapse. You want the bubble back overnight, which is unrealistic.
Joe
Even if it was Senator John McCain who won as US president, with the enormity of the challenges facing the USA in its recent history, it is still highly doubtful if the things you mentioned above will not happen. Who knows, things could even be worse under McCain.
Considering the humongous multi-frontier challenges that the Obama presidency inherited, being just one year in office is not sufficient enough time to judge president Obama with respect to his campaign platform promises. Even world economic experts say that it would at least take three years for the USA to even at least have a semblance of true economic recovery.
A 3-year period freeze of “unnecessary” government spending to lessen the burden on their trillion-dollar deficit national budget is perhaps a practical move of the Obama administration, but in about eight to ten months after implementation his resolve will surely be tested greatly.
Afghanistan is president Obama’s Iraq. With the financial hardship the USA is undergoing right now, it will perhaps take at least seven more years for the allied forces in Afghanistan to achieve a status like what Iraq is having now which is still not yet hundred percent stable and is still in very danger of being taken over by Iran as soon as the US forces leave.
The war against extremist Islamic terrorism is a perpetual global struggle and will transcend generations of world leaders even if the founding leaders of these terror groups have long been gone. Because it is a religious ideological fanaticism and listens to no reason except its own, it simply cannot be persuaded nor defeated with the use of the tools of diplomacy. President Obama is an excellent diplomat and not a military man like senator McCain. True to vice-president Joe Biden’s warning before, president Obama’s strength now is indeed being tested by these terror groups. Though during the campaign president Obama promised “hard force” for terrorist, we have yet to see how hard can he really be against the leaders of the countries who are sponsoring these terror groups.
Socialized Health Care concept has long been a major endeavor of the Democrats which the Obama administration is pushing so hard to become a reality in the USA. While it maybe considered fair universally, this socialist liberal concept of taxing (more) the rich class to fund the health care requirements of the lower class run somewhat contradictory to the basic American concept of “equal reward for equal work”. But perhaps the one big obstacle to the proposed version of this health care program is the incorporation of the support for what the religious sector called “pro-choice/anti-life” provisions. The hardliner conservatives and even most of the religious groups who supported Obama during the campaign are now against that particular provision. Unless a compromise is made, this bill which is now in a state of legislative life support system could eventually pass… pass away.
Mariano,
I was in a hurry and neglected to address a couple of your questions.
Terrorism would not be such a headache had Bush focused on Bin Laden rather than dismantle Iraq, which was a pseudo-secular state effectively blocking Iranian adventurism. Rather than keeping Bin Laden in a box as an irreverent killer extremist, Bush invited the disease to go mainstream Muslim. The Iraq war has been poster-boy numero uno for recruiting terrorists. What part of OCCUPATION did Bush not understand, as an incentive to anger and recruitment.
The deficit was run up under Bush by fiscally irresponsible tactics like holding the wars off-budget and tossing in tax breaks for the wealthy. Those tax breaks for the rich were consistent with the notion of speculative investments and big bonuses to the top executives, while everyday workers are being laid off, a capitalistic aberration currently driving anger in America.
You need to line up your cause and effect properly. You are attacking the doctor and ignoring the diseases.
Non-malignant,
Good commentary. A tweak, however. Dealing with health care has been a goal of democrats and republicans alike. The recently stalled bill rather became a rats nest of special provisions to try to get the 60 vote super-majority needed to pass it. Government-provided insurance was, I believe, yanked. “Socialization” can be a loaded word to some. Others would say “taking care of people”, especially the poor, and paint it 180 degrees differently. It’s hell if you are sick and can’t afford care.
Joe
o My stocks are up 95% since April 2008. What part of economic recovery are you not seeing?
Jobs?
Companies have to see steady growth and assured opportunity before they add people. Ford is adding people, back from the brink. It took decades to build the bubble to lead to a collapse. You want the bubble back overnight, which is unrealistic.
Joe
Please allow me to comment on the above comments by JoeAm.
But first, we have to understand that the stock market(s) is not the economy. The former is simply a reflection of the attitudes and expectations collectively of the people engaged in them. If you look closely, the popular indices are for large-based US companies and not those of Main Street.
Thus, it is true the markets are rising, and even the economy expanded during the 3rd quarter. But still unemployment is high, incomes have not risen, and worse, in the consumer sector confidence is still quite problematic.
And we have had past occasions where rises in markets have been followed by recession, like the market jumps in 2007.
There simply are many mysteries surrounding what is happening today globally, puzzling mysteries that have stymied many serious students of economies.
We all are in some kind of flux. Thus, it behooves us to keep our prognostications closer to our vests.
Amadeo,
Correct, last statement. Correct also that the stock market is only a collective reading of confidence. GNP up over 5% last quarter is a fact, however.
The housing bubble hit a profound pop, cutting at the fundamental wealth of most Americans. It was not Obama’s doing. Not really Bush’s either. It has long-term underpinnings. I just don’t like to see blame laid where it does not belong.
Joe
So as not to inject any personal assessment or judgment which invariably becomes tainted by our own individual ideological bents, I would instead recommend for one to visit the site of Memeorandum, which simply lists continually updated news events and commentaries on the US political environment. It indiscriminately catalogues from all possible sources and leaves the reader with first, a quick snapshot of the entire picture and the different sources of the “pixels” that make up the picture, and second, for the reader to pick and choose which named source or resource one is inclined to believe in whether based on any ideological bent or simply because one wants to get a complete picture of the story taking all credible sources to heart.
JoeAm made this incredible charge:
Mr. Bush had eight years to muck things up, running up a deficit of some 11 trillion
I know the word trillion is bandied about quite indiscriminately nowadays in government but take a look at these data:
Amadeo, can u please post the link u referred to above (nawala yata, e)? I’d be very interested.
Oh, sorry: please disregard. Just saw it.
Amadeo,
Thanks for the interesting link.
I got the 11 trillion from Obama, who recited that the deficit was run up by those fiscally conservative, non-hypocritical Republicans, by funding two wars “off budget” and tossing in tax breaks for the wealthy; they got it to 8 trillion. Then the financial collapse tossed in another 3. Obama has since added 1 trillion or more, and the Congress has passed legislation allowing for about 2 trillion additional on top of that. The health care package would pull a couple of trillion out, by some magic of making expenses disappear while care is improved; haven’t figured that one out yet.
I round off, as I don’t know how many digits there are in a trillion. What comes after trillion? Bazillion?
Joe
Joe,
You are a banker(sorry don’t have time to google to link to where I heard that the first time.)if my memory does not fail me and so is Amadeo.
So may I ask , when you used the term deficits ,did you mean public debt and not budget deficit?
I suppose yes, since you included the off budget items.
http://en.wikipedia.org/wiki/United_States_public_debt
ah, here:
http://filipinovoices.com/missing-old-school-when-journalists-become-stars
and here
http://filipinovoices.com/gsis-vs-ibm-accusations-fly-as-a-cup-overfloweth
So I should have used the past tense.
Karl,
your memory is like a trap, man,
but I was actually a marketing guy most of the time,
at the bank,
and a project specialist the rest of the time,
and I don’t know a deficit from a public debt.
I just know how to quote Obama,
or paraphrase to the best of my aging memory,
which is more like a trap door these days.
Joe
:-)