It appears that the message is starting to get through. The American people are more concerned with the economy than heath care. They want to find jobs more than they want to be taxed so others can have health care insurance. So Mr. Obama has gone on the road to sell his new priorities. It’s the Economy, stupid.
Today in Ohio, he has told his audience that he is ‘fighting’, and will continue to “fight” for them. He used the words ‘fight’ or ‘fighting’ about a dozen times. He proved that he has not heard the whole message when he claimed he is not going to let his health care plans die (the death they so richly deserve). He has also not abandoned his class warfare theme. He still claims he was sent to Washington to make sure that the wealth of our country does not remain in the hands of a few but is redistributed to all the hardworking people of our land – my words. He actually said that the past decade has been, “…one of the toughest decades our middle class has faced in generations… some Americans made huge amounts of money, while many others pedaled faster and faster, only to find themselves stuck in the same place, or even slipping behind.”
It is obvious that Mr. Obama and his advisors still believe that by setting up class envy and defining the “middle class” as the victim of previous Administration’s policies, that he will endear himself to a big block of the voting public. I don’t think that played well in Massachusetts, nor will it in the rest of the country for much longer.
Mr. Obama also needs someone to blame for the failures of his first year in office. That is why he has singled out the past “decade” as being so tough on ‘middle class’ Americans. That is code for “George Bush’s Administration.” He also wants to blame evil big business. That is part of the reason why he, on Thursday, lit into those evil Bankers (and helped the stock market lose 2% of its value, yesterday alone). It is why his health care ideas are all centered around beating up (fighting) those horrible Insurance Companies.
So why do I say that Bernancke is toast? Recent polls show that Mr. Bernancke is not popular. He is just starting the process for reappointment to the Chairmanship of the Fed. He has high name recognition regarding the banking/Wall Street/Economy issues. Mr. Obama, by nominating someone else can say that Bernancke was the problem that caused Mr. Obama’s stimulus plan to be less than effective. He makes the perfect scapegoat and his loss will have almost no downside risk for Mr. Obama politically. That would also give Mr. Obama a chance to pick someone who will either be a ‘champion of the people.’ Or he can prove he is not listening and fill the slot with another Liberal who has never held a job outside of government like most of his appointments.
What should he do? Fire Timothy Geithner, the Secretary of the Treasury. Geithner probably has more to do with how money is spent and borrowed by our government than anyone, and, frankly, he and the Administration he represents have spent and borrowed way too much and for most of the wrong reasons. If Mr. Obama wanted to show he has really heard the message, he would fess up to the Geithner problem and dump him. The Geithner problem? A year after his appointment, most Americans still believe that a tax cheat should not be Secretary of the Treasury. A poll last year shows that the Political Class loves Geithner but the public feels the opposite. This may be part of the message that Mr. Obama still does not hear.
My prediction? Bernancke is an easy mark and will provide a good scapegoat so he is toast. President Obama will not reappoint him. IMHO, Mr. Geithner has a bigger role in what has gone wrong with Mr. Obama’s attempts to revive the economy but he will hang on (barely) for another six months until the next scapegoat is needed.
What do you think?