Wednesday, November 25, 2009

Opinion

Obama's 100 Days: Wall Street Crowd Makes His Administration Like Grant's

Posted April 30, 2009

James P. Pinkerton served in the Ronald Reagan and George H.W. Bush White Houses, is a fellow at the New America Foundation and is a frequent contributor on Fox News.

But the Grant precedent isn't all bad for Obama. Scandals and all, Grant was easily re-elected. And like any new president, Obama has deep reserves of goodwill nationally—at least until a real crisis tests him.

The new president aced his Somali pirates pop quiz, but his larger foreign policy theme, apologizing for America's alleged misdeeds, is risky: Such international hair-shirting and memo full-disclosing will soon wear thin with Middle Americans. And if the debt-ridden contours of his domestic policy are all too clear, we have yet to see how he will handle a foreign conundrum that he can't (a) throw money at, or (b) apologize for.

  • Print  |
  • Subscribe  |
  • |
  • |
  • Sphere: Related Content

Reader Comments

Pres, Grant was betrayed by corrupt 'friends'

Our beloved General Grant saved the Union but as President he was surrounded by liars and cheats. His last years were spent in debt. He said churches must be taxed or they could one day own everything. All our tax bases are narrowed because so many churches are off tax-collection rolls. Americans are scared by anti-Socialist propaganda but it is capitalism that creates the "rat race and dog eat dog" daily drag.

Congress should use taxes to buy out people who own shares of stock in companies that sell us electricity, natural gas, water, phone service, buses, trains and other daily needs. Then we could use all those without having a PROFIT tacked on. We should also have the federal government make machines used in health care. We made very fast all the war stuff needed in WW Two but we paid private contractors at a profit. We need more socialism (government ownership) not less, because we taxpayers ARE THE GOVERNMENT.

Government bailout money for business.

The news about the bailout payback has not been encouraging.Why should the captains of industry get free government money and I can't borrow $30k to start my business? My plan would make these organizations, that accept bailout money , pay back every cent to the US treasury(taxpayers)at prime plus 4% and put 50% of the payback into the social security funds to insure the survival for our partial retirement funds.Since our elected officials continue to borrow from this once solvent fund,how do these officials plan to repay this money? Now I have given them a chance! Someone should use this to help win votes for the next election!Think of the millions of baby boomers retireing within the next 10 years!Lots of votes! Now while I am solving economic problems,let's not forget that these captains of industry that made poor decisions resulting in failed economic models,should not be allowed to create new fees,raise user fees,increase or invent new intrest rates of service charges.These tactics will be used to help pay off the borrowed money faster.But as you see the consumer,again the taxpayer,foots the entire bill.A penalty should be paid from the corporations for creating or adding to the economic mess we(taxpayers)are sufferig for.Let the shareholders and other stakeholders begin forfeiting dividends and wealth appreciation while paying back a debt.

THE SAD REALITY CHECKS OF THE AMERICAN PEOPLE

First off, Mr.Pinkerton, may I extend my compliments to you on your summary of the polical arena that fences us in today. You are both intensly factual and convincing about the economic pitfalls that we as country see as being inevitable. While of course I do not share your polish as a journalist and as a more gutteral and creative commenter, I would in a most simplistic sense ask this: If a family of four requires close to $100,000 per year just to break even today and then ends up putting themselves in debt in order to leverage the rest at 20% interest, what exactly is going to happen if and when Obama ultimately solves the recession, provided that he accomplishes same? Are we then, with the prospect of uncontollable oil prices and inflation down the pike suddenly be able to add another $50,000 to our income? People do not go anywhere now, when are Americans going to have some fun and live a lifestyle that is enjoyable. Restaurants do not carry Grey Goose sometimes because people go for the house brand. I suffered from this outrage on my birthday as I pondered the salient and ominous implications of that telling ommission.

Add your thoughts

Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

advertisement

Crossword Puzzle

Do You Like Crosswords?

We've added a new feature to our weekly digital magazine: an exclusive crossword puzzle!

advertisement

Cartoon Gallery

Editorial Cartoon

Political Cartoons

Check out our most recent cartoons.

Mary Kate Cary

Mary Kate Cary

The GOP Should Reach Out to Women

The male-dominated party just doesn't understand what women want.

Mort Zuckerman

Mort Zuckerman

The Financial System Needs a Careful Cure

Let the Federal Reserve oversee new regulations for finance giants.

Palin Cartoon Gallery

Editorial Cartoon on Sarah Palin

We've assembled some of the best editorial cartoons on Sarah Palin. Check them out.

Thomas Jefferson St.

GOP Can Be Thankful for Strong Polls

But they cannot get complacent.

5 Reasons for a Democratic Thanksgiving

Michael Steele and healthcare reform top the list.

Women Have Say on Health Reform

If it's the year of the women, why are there so few of them?

Turkey Tax

Uncle Sam is joining in on your Thanksgiving dinner.

Ideological Labels Just Don't Fit

Hard-liners don't understand that some of us don't toe an ideological line.

A Decade in Biased Review

How well does the video sum up the last decade?

GOPers Push European-Style Litmus Tests

Some RNC members want strict party platforms. Why do they hate America?

Your Photos

President Barack Obama speaks about combat troop level reductions in Iraq as he addresses military personnel at Marine Corps Base Camp Lejeune.

Obama in Your Town

Has the president visited your town? Send your photos to obamaphotos@usnews.com, and we'll post our favorites online.

Courtesy Greg Meinert

Thousands cheer as Obama becomes the 44th president.

Your Inauguration Photos

Thanks for sending us such great shots from this historic event.


A baby kissing an Obama poster for Washington Whispers.

Your Campaign Photos

We asked to see your personal election pictures and you delivered.

Public Opinion

Should the GOP Have a Litmus Test?

Should the RNC exclude politicians who don't match the party's platform?

advertisement

Use of this Web site constitutes acceptance of our Terms and Conditions of Use and Privacy Policy.
Make USNews.com your home page.