As I was monitoring the fall of the markets, President Obama made a brief cameo to remind everyone that S&P doesn’t know squat.
You want to bet the house on a ratings company that couldn’t rate the financial companies right in 2008?
S&P has a credibility gap.
But they’re right on one score. We still have a less than Triple-A political process.
It was bit strange to see Obama come out fighting today.
Where was that fight,the spirited sense of pump priming last week when we needed to see it?
“Pump priming” is what succesful stimulus packages are all about. Government spends on infrastructure and more people go back to work. And it does work. It’s the way Clinton got us out of debt.
On Monday, Obama talked like he had a plan. He was still a big lukewarm. But at least he acknowledged all the things government can do, including some things the GOP has already agreed to and can do today.
Obama mentioned political will as if the lack of it was due to those spoil sport Tea Party folks.
But all along, Obama could have shown a bit more muscle too.
He just hasn’t been pumping up priming the pump hard enough.
Don’t forget the power of the pump, Mr. President.
Check out my amok column at the Asian American Legal Defense and Education Fund website blog: