Wednesday, February 18, 2009

The bailout is Obama's Iraq

When Bush began his push for war in Iraq it was obvious that this big. If things didn't work out quite right, if Bush was wrong about everything, it would surely be the end of Bush. You don't just start a war. You don't just invade another country. The country was reeling from a terrorist attack and this seemingly uninvolved country was Bush's answer. If he was wrong how could anyone forgive his mistake? It took a while but Iraq turned out to be a huge mistake. I wasn't around during the Vietnam era, but it is probably on that scale. Bush left office with a big middle-finger from the USA by electing a president who campaigned on the idea that he would rule exactly the opposite of Bush and won handily. Iraq was Bush's gamble. The size of it mean that it would make or break his legacy. He would go out a hero or an ass-hat.
Today our country is struggling in the midst of an equal crisis. Our whole financial system is threatening to collapse leaving us vulnerable for China or Russia to take over as the world super power. Talk of another great depression seems plausible. Obama's answer to this crisis is a nearly $800 billion bailout. That number is insane. Super insane. Attacking a non-threatening sovereign nation insane. If this bailout does not work then Obama will also leave the White House with his tail between his legs. He will probably defend it to the end of time not matter how asinine that assertion may seem in retrospect. Progressive and liberal thought will seem passé.


  1. Let's all just hope and pray that he's right. Help us all if he's not. I don't even want to see where we'll end up then.

  2. I worry about the bailout too, but what is the alternative? The idea is to try and prevent the enormous pain and suffering the citizens went through during the Great Depression.

    If the government does nothing, the Great Depression - including people losing everything and killing themselves and bread lines - will likely repeat itself. So what would you do if you were the President?

  3. I think there is a big difference between doing "something" and doing "the right thing." When Bush invaded Iraq he was doing "something" about terrorism, but it wasn't the right thing. I am in no way arguing that this bailout is not "the right thing." I am quite conflicted on it. It doesn't help that I have not taken the time out to read the details on it, which fortunately has been made available online by the Obama administration. I certainly hope it is the right thing. If it does then it will probably become the defining moment is Obama's legacy the way Iraq would have been had it not been a flop.
    "So what would you do if you were the President?" I've been toying with this for a while, and have been wanting to get a chance to sort it all out and jot it down in my blog. I thing on top of a well formed stimulus package we need to ensure that we don't return to an economy where we spend more than we have and save nothing. I think saving during good times, while it may prevent high highs, will help us during bad time, preventing low lows.
    The whole thing is a lot to digest.

  4. "I thing on top of a well formed stimulus package we need to ensure that we don't return to an economy where we spend more than we have and save nothing"

    I definitely agree with that.

    It IS a lot to digest. And it's scary.