Thursday :: Apr 22, 2010

The Battle Lines Are Drawn

by Steve

Gallup tells us that despite rumblings to the contrary from some in the right wing echo chamber, three quarters of those polled blame George W. Bush a moderate or a great amount for the economic problems we face. In comparison, fifty percent blame Obama a moderate or a great amount and fifty percent blame him little or not at all. It’s normal for the numbers on Obama to go up as he’s in office longer, if things don’t improve, as voters assign more responsibility to him the longer he’s in office. What is delusional is how the Republican respondents assign blame: 46% assign Obama a great deal of the blame while only 15% of them assign Bush a great deal of the blame. In other words, your Tea Party base.

Obama for his part is not hesitant anymore to point out that the GOP is blocking reform after watching the house burn down and do nothing about it, something we’ll see more of as we get closer to Election Day. This probably explains why there may be breaks among the GOP in opposing any final reform bill. And it should come as no surprise that Obama is getting directly involved early in this fight and giving Wall Street one last chance to get aboard, and if they don’t, the White House will happily spend the rest of the year bashing Wall Street and the GOP for causing the problem and then fighting to keep the status quo.

It's smart politics for the Democrats to have Obama be the front person for this, and to make this a battle between Democrats and Main Street against the GOP and Wall Street, with a bit of loony Tea Party fringe imagery thrown into the mix.

Update: Obama has finished his speech in NY in front of Wall Street execs, consumers, and students. He spread blame around for the collapse, from consumers to Washington regulators to Wall Street itself. And he pointedly pushed back against the Mitch McConnell lie that the bill about to hit the Senate floor would enable more taxpayer-funded bailouts. He also shrewdly said that the only Wall Street folks who would fight reform are those whos behavior and business practices would not withstand scrutiny under the new regulations.

And the GOP response? Eric Cantor's office avoids explaining why they side with Wall Street and take their money, and instead try and drag Fannie Mae and Freddie Mac back into the debate as a Democratic weakness. Yeah, that should work. Mr. Cantor, if this is the House GOP's best argument for voting against financial reform and continuing to take Wall Street's cash, I'm sure you and your caucus will deserve what's coming this November.

Steve :: 7:38 AM :: Comments (6) :: TrackBack (0) :: Digg It!