A Sad Display
President Obama’s agenda seems to have taken a hit on one of his first initiatives: the stimulus package. Failure to pass this bill quickly indicates several things to the keen observer.
1. The hope for astounding bi-partisanship and cooperation in Washington seems far-fetched.
2. The fact that Obama is using the ‘politics of fear‘ that he campaigned against indicates a degree of desperation.
3. The public has lower approval of the stimulus package than one might expect during a honeymoon period.
4. Obama won’t be able to address other financial issues – the kind that pertain to the investor – for some time yet.
This legislative battle is an inconvenience in itself, but likely will also be a grim premonition of things to come. All bets are off as to when to invest in Obama stocks.
Posted: February 9th, 2009 under Monetary Policy, Obama, The First Year.
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