anticpated preview of tonights speech--
Can project it to be summed up as follows--
Mr Hope will again have on his Dr Doom face.
Will lay all probs on some else and take responsibilty for nothing.
ie: Will continuely harp on Trillion $ deficit he took over from the past-but say nothing about doubling it in his 1st 30 days.
Will say nothing about his biggest increase spending in socialistic programs--will tell you how they are the prob and his intent to cut them.
Nothing will be his fault--not the fact that 3 largest drops in market have came after he won election-after they unvaled their banking plan (or lack thereof) after announcing stimulus plan--
--every major annoucement /decision he has put out has been seen negatively from financial world.
appears no one likes the change or sees the hope.
--but as his rhetoric will dictate--nothings his fault.
You will get the normal dose of projections void of facts--and plenty of "we will"-but no "we have"
When he's telling how future tax receipts will cut deficit--you might ask yourself what future tax receipts will be--
When he's speaking of cutting expenses on Medicare and Medicaid--you might consider his answer is adding more and bigger gov run Universal healthcare-sound feasible?
--I just hope he doesn't mention his little meeting with his energy secretary-Clinton and Gore yeterday--and what their intentions are--or you will see 500 drop in market tomorrow--buts its coming--and it will be the nail in the coffin-
Just finished reading reviews--will skip the conservative rants and use liberal A.P. to see how their take compares with anticipated review above.
http://news.yahoo.com/s/ap/20090225/ap_on_bi_st_ma_re/wall_street
Wall Street points lower after Obama speech
By MADLEN READ and TIM PARADIS, AP Business Writers Madlen Read And Tim Paradis, Ap Business Writers ? Wed Feb 25, 12:05 am ET
NEW YORK ? U.S. futures pointed lower after President Barack Obama's address to Congress Tuesday evening, as investors didn't get the specifics they hoped for on the government's plan to rescue troubled banks.
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A.P grading on hope/change rhetoric vs facts
http://news.yahoo.com/s/ap/fact_check_obama
FACT CHECK: Obama's words on home aid ring hollow.
OBAMA: "We have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values."
THE FACTS: If the administration has come up with a way to ensure money only goes to those who got in honest trouble, it hasn't said so.
OBAMA: "We have known for decades that our survival depends on finding new sources of energy. Yet we import more oil today than ever before."
THE FACTS: Oil imports peaked in 2005 at just over 5 billion barrels, and have been declining slightly since. The figure in 2007 was 4.9 billion barrels, or about 58 percent of total consumption. The nation is on pace this year to import 4.7 billion barrels, and government projections are for imports to hold steady or decrease a bit over the next two decades
OBAMA: "We have already identified $2 trillion in savings over the next decade."
THE FACTS: Although 10-year projections are common in government, they don't mean much. And at times, they are a way for a president to pass on the most painful steps to his successor, by putting off big tax increases or spending cuts until someone else is in the White House.
Obama only has a real say on spending during the four years of his term. He may not be president after that and he certainly won't be 10 years from now.
OBAMA: "Regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn't afford from banks and lenders who pushed those bad loans anyway. And all the while, critical debates and difficult decisions were put off for some other time on some other day."
THE FACTS: This may be so, but it isn't only Republicans who pushed for deregulation of the financial industries. The Clinton administration championed an easing of banking regulations, including legislation that ended the barrier between regular banks and Wall Street banks. That led to a deregulation that kept regular banks under tight federal regulation but extended lax regulation of Wall Street banks. Clinton Treasury Secretary Robert Rubin, later an economic adviser to candidate Obama, was in the forefront in pushing for this deregulation.
OBAMA: "In this budget, we will end education programs that don't work and end direct payments to large agribusinesses that don't need them. We'll eliminate the no-bid contracts that have wasted billions in Iraq, and reform our defense budget so that we're not paying for Cold War-era weapons systems we don't use. We will root out the waste, fraud and abuse in our Medicare program that doesn't make our seniors any healthier, and we will restore a sense of fairness and balance to our tax code by finally ending the tax breaks for corporations that ship our jobs overseas."
THE FACTS: First, his budget does not accomplish any of that. It only proposes those steps. That's all a president can do, because control over spending rests with Congress. Obama's proposals here are a wish list and some items, including corporate tax increases and cuts in agricultural aid, will be a tough sale in Congress.
Second, waste, fraud and abuse are routinely targeted by presidents who later find that the savings realized seldom amount to significant sums. Programs that a president might consider wasteful have staunch defenders in Congress who have fought off similar efforts in the past.
OBAMA: "Thanks to our recovery plan, we will double this nation's supply of renewable energy in the next three years."
THE FACTS: While the president's stimulus package includes billions in aid for renewable energy and conservation, his goal is unlikely to be achieved through the recovery plan alone.
In 2007, the U.S. produced 8.4 percent of its electricity from renewable sources, including hydroelectric dams, solar panels and windmills. Under the status quo, the Energy Department says, it will take more than two decades to boost that figure to 12.5 percent.
If Obama is to achieve his much more ambitious goal, Congress would need to mandate it. That is the thrust of an energy bill that is expected to be introduced in coming weeks.
OBAMA: "Over the next two years, this plan will save or create 3.5 million jobs."
THE FACTS: This is a recurrent Obama formulation. But job creation projections are uncertain even in stable times, and some of the economists relied on by Obama in making his forecast acknowledge a great deal of uncertainty in their numbers.
The president's own economists, in a report prepared last month, stated, "It should be understood that all of the estimates presented in this memo are subject to significant margins of error."
Beyond that, it's unlikely the nation will ever know how many jobs are saved as a result of the stimulus. While it's clear when jobs are abolished, there's no economic gauge that tracks job preservation. The estimates are based on economic assumptions of how many jobs would be lost without the stimulus.
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So appears I didn't miss anything by not viewing-other than the huge Dem majority probably standing and cheering at ever word
--but did come away with one pleasant surprise--and that being even some liberal media is now taking him to task and holding him accountable--
--appears the days of ruling on hope/change rhetoric may be coming to a close.
