"It's Obama's Crisis Now"

 No more passing the buck.

You might have missed it, but a key moment in Barack Obama's young presidency occurred Wednesday afternoon as he began his trip to California to become the first sitting president to appear on a late-night comedy show.  Heading for his helicopter, Obama made a statement about the AIG bonuses, and he didn't use the word "inherited."  As in "we inherited this crisis."

"Ultimately, I'm responsible, I'm the president of the United States," Obama told reporters.  "The buck stops with me."   That makes it official: Barack Obama didn't start the financial crisis, but he owns it now.

Before anyone gives the president an award for political courage, remember that provisions regarding the bonuses -- and who knows what else -- were buried deep inside the $787 billion economic stimulus bill that Obama and his fellow Democrats rushed through Congress. Every single Republican in the House voted against it, and all but three GOP senators did the same. There's no way Obama can blame the stimulus, and its contents, on anyone other than himself.

"What's beginning to happen is his actions are starting to have consequences," a Republican pollster told me. "And this is one of those. He hurried everybody through that process, and it's now his actions that are causing things that people are unhappy about."

Think back to the day when House Minority Leader John Boehner held up a copy of the stimulus bill -- it must have been six inches thick -- and said, "Eleven hundred pages that not one member of this body has read.  Not one." Urging lawmakers to vote no, Boehner continued: "What happened to the promise that we're going to let the American people see what's in this bill for 48 hours?  But no" -- at that point, Boehner dropped the massive bill to the floor with a thud --  "we don't have time to do that."

So the bill was hurried through, and Obama signed it in a flash. And now we're finding out that there were, in fact, problems that should have been the subject of public debate -- just like Boehner said.  Once-confident Democrats are worried, and Republicans have a serious I-told-you-so opportunity.      

As they argued, Obama hit the road to California to sell something -- his $3.6 trillion budget plan -- that he and his fellow Democrats should be able to pass nearly entirely on their own.  Most of the spending measures, apart from the president's health-care reform proposal (which we know virtually nothing about) and his energy cap-and-trade plan (which Republicans now call "cap-and-tax") could be passed by a simple majority, with Democratic votes alone.  And yet Obama, worried about opposition from moderate Democrats, let alone Republicans, is having to stump for his plan.  And he has recruited one of his top political operatives, David Plouffe, to create an unprecedented grassroots-and-netroots campaign for it, as well.

The sales job is likely to get harder in the days ahead. We're now finding out that the Congressional Budget Office says deficits in coming years will be at least $1 trillion more than Team Obama estimates.  How much more will a worried public accept? "Bailout fatigue is palpable," a top GOP Hill aide told me.

But Obama, by all reports, plans to push forward with his plans, not to fix the economy but to overhaul health care, energy, and education -- no matter what the costs.  "We have to…start establishing a foundation for long-term economic growth," he said on the way to California.  "That involves making investments on health care and energy and education."  Does it really?  Most people would be happy with a financial rescue plan, but Obama doesn't have one yet.

Comments

[DavidB]

"So the bill was hurried through, and Obama signed it in a flash." Actually, Gina... Obama waited three days before he signed the "stimulus" bill. His only rush was getting it through Congress before anyone had time to read it. This has been Obama's crisis since inauguration day and all he's done since is make things worse. Every time he or Turbo Tax Tim open their lying pie holes the market tanks. No one other than his supporters (most of whom are lucky if they can write at a 7th grade level) have any confidence in him as President and even less in his policies.
Obviously, the clown thinks picking basketball teams and clowning on the Leno Show is more important than the economy. All the while he's throwing lavish parties on a nightly basis. He's America's version of Rome's Nero.