Vicious Rants of an Angry Yellow Man

Obama finished the year with some much needed victories. Sure, he is still very vulnerable in 2012 especially if the economy does not keep improving and if the Republicans nominate a moderate. But if the economy improves significantly in the next two years (a big if), then he can point to the legislations that he pushed through in the past two years as the key. As I have said before, the next two years with the Congress split, nothing will get done. So the Republicans cannot claim that they did anything if things improve. Of course, if thing go bad, then they can and will blame Obama.

Let's face it, Obama has not shown great leadership. Not the Magic Negro some had coined him during 2008. He is at least partially responsible for the Democrats getting slaughtered in the election this year. But his fault is not able to communicate his stragies and ideas to the people, not lack of understanding of what needs to be done. The stimulus program and TARP were forced moves. If he had not done them, even if the economy is exactly the same today without them, he would be roundly criticized for not doing enough. Ironically some who say that the stimulus was socialist also say that his handling of the stimulus was too slow. You know what? China's stimulus plan worked much quicker because they don't have to worry about bureaucracy of a democracy. If they want to build a road, they just do it. No legislation to pass, no arguments. His foreign policies such as the Middle East negotiations and the START treaty are all supported by experienced diplomats including former Republican Secrataries of States. Getting rid of "Don't ask, don't tell" , increased college financial aid, financial service reforms, consumer credit card protection laws are all Democratic agenda so a lot of people may not like them. But most people would understand that it is a job of a Democratic president to push them through and he did that.

Two legislations that hurt him was Healtcare reform and the extension of Bush tax cut. Healtcare reform gives his opponents an opportunity to call him a socialist. Healthcare is not an immediate crisis for overwhelming majority of the people so reform in a bad economy is going to be unpoplar. But Obama knew that we have to tackle it. My own insurance has doubled in four years and has increased again this month and I have not had a significant illness (knock on wood). So eventually the majority will feel the pain that a small minority feel today. Skyrocketing healthcare cost will also make our businesses less competitive. So Obama was right to tackle it. I don't like parts of the reform but it is a start. The problem for Obama is that both the right and left don't like parts of it and blame him, which I don't think it is fair.

The Bush tax cut extension with extending unemployment benefits and decreasing estate taxes is another legislation that both the left and right blame Obama. But again if he does not compromise then both sides will yell at him also. So it is a no win but I don't blame Obama. By the way if tax cuts are so essential for the economy, how come the economy went down after we had the tax cut? The truth is, nobody knows how a tax cut or increase will ultimately affect the economy. It doesn't matter who is the president, they use the same economists and Federal Reserve Chairman anyway.

Which brings the conclusion. Obama has not shown great leadership so far. But he has tried to do what he can. He is not better than Bush when it comes to the economy. But he has not make the horrible mistake of sending troops to Iraq. He got a lot of what he wanted to do done in the first two years. He will not get much done in the next two years with the new Congress. Whether he will be re-elected depends on the economy and if there is any more terrorist attacks, two thing probably beyond his control.