Obama's 100 Days: Wall Street Crowd Makes His Administration Like Grant's
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.
- Check out our political cartoons.
- Read more about the Obama administration.
- Read more about Wall Street.
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.
advertisement









