The more I read and see of Barack Obama, the more I'm convinced he's the right man...at the right time.      The inauguration hoopla is over and the serious work has begun to get us out of the economic mess Obama inherited.

I was pleased to hear Mr. Obama caution against over-optimism in his inaugural address.   No one should expect instant miracles.   It took a long time to get into this economic crisis and it will take some time to get out of it.

One of Mr. Obama's top priorities will most certainly be deciding where to place $350-billion in TARP funds.  More of the second $350-B will go in a different direction than the first.    Here are key objectives.

* The number one objective is to get credit flowing again to consumers and businesses.

* Adopt "smart, aggressive policies" to reduce foreclosures.

* Toughen conditions for recipients of bailout money.

* Attract private capital and speed the end of bailouts.

It's important for everyone to know the White House is operating in uncharted territory.   No one has ever had to deal with a situation like this before.... so, there are no guarantees the stimulus package will succeed as hoped.  

President Obama has made wise choices in assembling a first rate team to guide him through these turbulent times.   There is no doubt mistakes will be made along the way....but I see Mr. Obama as a careful pragmatist with political savvy and a willingness to take bold action without delay.   

At the root of this recession is confidence.   By this I mean confidence among the major financial players in each other, confidence by the public at large they will have a job to go to, confidence in industry.....and at the base of it all confidence in the housing market.

Everyone is waiting for the economy to bottom out.   Trouble is no one really knows where the floor is or how long it will take to reach that point.     The stimulus package is designed to inject life back into the economy and get things moving again, but that will most certainly take time. 

The way I see it....there are too many  arm chair quarter-backs when it comes to fixing the economy and getting the housing market back on track.   Everyone has their own over-simplified solution for what ails the nation.    It's quite amazing how someone can go from real estate agent ....to national economic strategist seemingly in an instant.   Ask anyone on the street and they'll have a ready made answer.

We all have to believe in something.....

I would ask that President Obama and his team be given full support and plenty of slack to do what has to be done.     I also ask that Obama and company be allowed the leeway to take calculated risks to restore a robust economy.

 
Posted by David W. Langford on 01/22/2009 10:20 AM   Comments (7)  
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7 Comments on Give the guy a break. We need unity....not disunity.

JAN
22
2009
1,055,638 Points 2 Featured Posts Called Shot Master

Obama IS the right man for the job...I am so glad he is President and am hopeful if anyone can help turn things around, he can!  Go Obama Go! 
10:35am • #1
207,162 Points 7 Featured Posts Outside Blog

In his first day he did more good for this country than anything in the past 8 years. He froze salaries of his aids and he is closing guantanamo. I dont even know all the things but its an amazing start.

I was getting sick and tired of the Obama bashing complaining about what he was doing for the past 2 months after winning the election while our current president was doing absolutely nothing but continuing to pass his secret agendas and while ignoring real issues like the economy.
10:35am • #2
188,215 Points 27 Featured Posts Outside Blog

Good Post. The problem that I see and you have iluminated a little bit is that there are as many fixes as there are people.

On any given day if you ask anyone what they would do they will often give you one of two responses.

  • I don't know but they better do it right.

OR

  • I think they should do the following.....

It is this last option that can have as many solutions as there are people answering the question.

My solution I think is as you suggest. We elected this man based on several factors. One of which was our collective assessment of his ability to solve the economic crisis.

So now that we are on the boat let us all grab a paddle and begin rowing.
10:43am • #3
318,277 Points

I'm with you he has been chosen for the job-set back and let him do his job.  It will take some time we all need to be patient and give him a chance.
10:54am • #4
1,150,600 Points 53 Featured Posts Outside Blog

I am open minded about him. Not as sold as some people but he deserves a chance.
10:57am • #5

Great post David! Obama mentioned in his speech that his presidential administration will do business in the daylight. That may not have meaning to most people but it gave me the goosebumps because while researching the meaning of American paper money and its hidden meanings, I came across a website that mentioned that the Federal Reserve was formed in the dark and in secrecy. No one but the Feds knew where this meeting took place. Then you have the meaning of the owl on the dollar bill to represents that. Paying taxes is unconstitutional - it's all about the Feds and their greed.

Also, I agree with you that Obama is the right person to the job as Commander in Chief for this country. I just did not like what Geroge W. Bush told Obama when Obama won the election on Nov. 4th - George W. Bush said to Obama, "Good luck with the rest of your life." What was that supposed to mean? I pay mindful attention to these things but one thing I will say is that nothing bad better not happen to my President! Give Obama a chance. Any president nowadays in Office needs to be granted that at least.

 
11:18am • #6
179,056 Points 13 Featured Posts

Hi David,

I like Obama, I didn't vote for him, but I like him.

I am not sure that simply giving him, or anybody else for that matter (including Republicans), plenty of support and slack (a blank check) to do what they want to do is necessarily the answer.  Every dollar spent is another dollar that my kids will have to repay with interest.

I think that contrarian points of view should be recognized.  I believe that debate is a good thing, especially when you are talking about nearly a trillion dollars of spending. 

I agree with you that the housing market is the key to the economy.  

And I also think that sometimes people in Washington, or Wall St. for that matter, don't understand the housing market as well as those that are IN the market.

The government has fumbled quite a bit on housing solutions so far.  They fumbled with the H4H program, they fumbled with the $7,500 tax credit that had no impact on demand, they fumbled thinking that lower mortgage rates would have a meaningful impact on demand.  And still to this day, despite the worst housing crisis since the great depression, I am yet to see any solutions come out of Washington. 
2:38pm • #7


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