Worst of recession is yet to come

"As bad as Friday's grim government report on economic growth was, it points to even worse times ahead.

The collapse of exports, industrial production and the inability of companies to sell their products all portend an even deeper contraction as U.S. and global economies sink further in the weeks and months ahead. . . .

Presuming that it lasts beyond May, which virtually all economists now expect, this recession will be the longest and perhaps deepest period of economic decline in the United States since the Great Depression."

http://www.miamiherald.com/103/story/881217.html

In other words, the $825+ billion stimulus package will have minimal effect and will simply put us deeper in debt.

"Don't just stand there, do something" is not always good advice. We need to sit tight, ride out the storm, and put our financial house in order.

Obama is rooting for the Steelers . . .

because the Steelers' owners supported Obama in the primary and general elections.

Please tell me again how "post partisan" this White House is behaving.

And North Korea, too

"North Korea said Friday it is ditching a nonaggression pact and all other peace agreements with South Korea, in an apparent attempt to use the threat of an armed clash to press Seoul to give up its "confrontational" stance."

http://www.miamiherald.com/news/world/AP/story/878949.html

Iraq, Afghanistan, Somalia, Cuba, Venezuela, Russia, and now, North Korea, too.

There is a crisis developing in every world hot spot. And, the only things we know about our president's plan of action is "withdraw all troops from Iraq in 16 months" and "be willing to negotiate with our enemies".

David Broder lost it

Read Broder's column regarding Rod Blagojevich.

http://www.cantonrep.com/opinion/x1796478086/David-Broder-Governor-is-no-joke-in-Illinois

Broder's beef with Blago: "When I was in Springfield almost two years ago for a bipartisan dinner at the Lincoln Library, I was told by prominent Republicans and Democrats that the Blagojevich administration was “the worst ever.”"

Obviously, Broder doesn't realize that being a bad governor is neither a crime nor an impeachable offense. And, that Blago hasn't yet been charged with a crime. Or, that Blago was reelected after that dinner, notwithstanding the insiders' opinions.

And Broder's analysis of the prosecution? "Fitzgerald was already working his way up through Blagojevich’s chain of command, bringing in one official after another, convicting them, then offering some leniency in sentencing in return for their testimony against higher-ups. It was assumed at that dinner that eventually Fitzgerald would have the pieces in place to show that Blagojevich was at the center of this criminal conspiracy."

Broder ignores that Blago was arrested (and now impeached) before the prosecutor had "the pieces in place to show that Blagojevich was at the center of this criminal conspiracy". Shouldn't the prosecutor know (and tell you) which crime you've committed before you're arrested and punished? You know, due process and the right to confront your accusers?

"Surprisingly Partisan"

"President Barack Obama's economic stimulus legislation is headed for the Senate after a surprisingly partisan vote in the House in which Republicans united in opposition and 11 mostly conservative Democrats defected."

http://news.yahoo.com/s/ap/20090129/ap_on_go_co/obama_economy

Why "surprising"? Because Obama declared the world is post partisan, and his friends in the media agreed?

If they wanted bipartisan support, they needed to let all parties help draft the bill, after negotiation and compromise and consideration of all parties' priorities. A smaller, less pork filled, tightly focused, more modest bill could have received support from at least one quarter of the Republican caucus. Instead, Obama went with a huge, rushed, partisan bill . . . which therefore received only partisan support. No surprise.

Support for the stimulus plan is dropping

Last week, 45% supported the Obama plan and 34% opposed it.

This week , only 42% support the stimulus plan, 38% oppose it, and 19% are undecided.

http://www.rasmussenreports.com/public_content/business/general_business/public_support_for_economic_recovery_plan_slips_to_42

Of course, that's before a year's gone by, and people realize it didn't work "immediately" (as Pelosi promised).

"Bipartisan" stimulus package?

Ironically, for all the talk of bipartisanship, the stimulus bill failed to get one vote from a House Republican. In fact, it was opposition to the stimulus bill that attracted bipartisan support, from both Republicans and Democrats. That's what happens when you draft an almost trillion dollar package in secret, by a select few, with no bipartisan input.

Having passed the bill, why would Pelosi et al "hail the measure as immediate" and "vow the bill will bring immediate relief"?

http://www.miamiherald.com/business/story/877255.html

They have to know that they're setting expectations too high.