By Peter Galuszka

Thankfully, we’re done with two underwhelming, policy-idea-deficient political conventions that, save for a couple of speeches, offer limited hope for the November election from either party.

The best part of the Democrat-confab at Charlotte was Bill Clinton’s rousing speech, as well as Michelle Obama’s class-act performance, but they gave Barrack Obama a hard act to follow. He couldn’t.

In Tampa, Ann Romney did well, but not as well as Mrs. Obama, and Romney and Paul Ryan were less than inspiring. Clint Eastwood’s awkward attempt at humor cast a pale over the event, underlining just how off tune the event was.

As conservative columnist David Brooks writes in this morning’s New York Times, the Republicans deliberately chose not to push much concrete proposal-wise because “most Americans don’t presently want every aspect of life to look like the market.”

Brooks notes that Bill Clinton’s rousing oratory filled the void left by the GOP which seemed to harp too much on Obama’s much-chewed comments about job creators. And Clinton is absolutely right that the country is somewhat better off than it was in 2008. The GOP seems to be summing up their case against Obama this way: “We left him a total mess. He hasn’t cleaned it up fast enough. So fire him and put us back in.”

The Dems seemed to steal the initiative from the Republicans which did have a significant stick — weak job growth — – to beat Obama with. GOP minders had the chance but seemed overwhelmed with off-point social conservatives demanding and end to all abortions, ending gay marriages and the like. These peripheral matters do nothing to address America’s very significant economic problems.

We heard precious little about how to grow the economy, pump prime growth, what the proper role of government spending should be instead of just repeated the “cut, cut” mantra, what America’s place in the world should be, how to deal with climate change, fossil fuel, subsidies for nuclear and wind and so on. Some ideas are in the platforms of the two parties, but you didn’t hear much about them at the conventions.

The dearth of progress on either side will be a major focus of Bob Woodward’s new book “The Price of Politics” due out next week. It deals with how Washington politicians, led by Obama and John Boehner, almost took the country to the brink of fiscal disaster last summer  that would make the 2007-08 housing, credit and bank meltdown look tame.

Apparently, the one person who is bound to look especially bad is Henrico Congressman Eric Cantor, who is House Majority Leader. Cantor’s overweening ego got in the way of his debt dealings with both Obama and even fellow Republican Boehner, the Speaker of the House.

Cantor, who appeared to have no presence in Tampa, appears to act like a whiny, spoiled child utterly unsuited for the serious matters he is supposed to deal with, according to Woodward’s account. His performance should be a big part of the 7th District campaign this November.

It won’t be, of course. Cantor is  snugged warmly into the Richmond political bubble that acts as its own parallel political universe that travels through time and space untouched by much outside of it, especially reality.

All sides look bad after the conventions, but no one sums up the current problems with governing more than Eric Cantor. Continued howling about federal spending and government-bashing to please the Tea Baggers and fiscal right wing, plus being unwilling to compromise for dogmatic reasons, won’t change anything. A switch in leadership might, starting in the Richmond area.


Share this article



ADVERTISEMENT

(comments below)



ADVERTISEMENT

(comments below)


Comments

  1. I didn’t watch much of either convention. I did stay up to watch Mitt Romney’s late-evening speech and fell asleep. Whoever ends up winning the election in November, this much seems clear: (1) the country will remain closely divided, and so will government; (2) the Rs and Ds in Congress will block each other from enacting major tax and fiscal reforms that are needed to get the country back on a sustainable fiscal path.

    In my personal opinion, a Romney presidency would do more to get the economy moving again, but the Rs are deluding themselves if they think the Mittster can eke more than a half-percentage point or so of extra annual growth out of the economy. Many of the country’s problems are structural and deep. Obama didn’t create them. (Neither did Bush.) Our addiction to debt, entitlements and corporate welfare is a bipartisan accomplishment built over decades with the complicity of the American people. It is not easily cured.

  2. DJRippert Avatar

    Wow! Peter and Jim both put forth reasonable and balanced commentary.

    Peter writes …

    “It won’t be, of course. Cantor is snugged warmly into the Richmond political bubble that acts as its own parallel political universe that travels through time and space untouched by much outside of it, especially reality.”.

    That is how it seems to me too (as well as many other people). I know Jim doesn’t like this but it is a pretty widely held view – the political elite in Richmond have too much power and they work in very opaque ways. Maybe this is right and maybe it is wrong. However, it is a widely held view.

    Jim Bacon writes ….

    “Our addiction to debt, entitlements and corporate welfare is a bipartisan accomplishment built over decades with the complicity of the American people.”.

    Boy, does that ever hit the nail on the head.

    Debt – really goes back to Ronald Reagan and the appointment of Alan Greenspan as head of the Fed. Greenspan felt that the risk of inflation had more or less ended so interest rates could be artificially held down to spur economic activity. This may have started under the Reagan Administration but it picked up steam under Clinton and really rolled under Dubya. Sadly, Bernanke makes Greenspan look like a piker when it comes to absurdly low interest rates. When the cost of capital is near zero, you should expect excessive borrowing and bubbles. We have both.

    Entitlements – wealth redistribution, pure and simple. And, in combination with the debt, it is redistribution from our children and grand-children to ourselves. This economic child abuse is beyond shameful and totally inconsistent with the American tradition of leaving the country in better shape for the next generation than it was for the present generation.

    Corporate welfare – purely a function of excessive money in politics. Unlimited campaign contributions (whether courtesy of the Supreme Cout – in the case of federal – or a corrupt General Assembly – the case of Virginia – is a curse of the highest order. From this abortion of common sense flows a might river of corruption and public mistrust of government.

  3. DJRippert Avatar

    Also, I was disappointed by both Obama’s speech and Biden’s speech.

    Obama had some soaring rhetoric which, frankly, I find refreshing and necessary. However, to declare the current “crisis” to be the biggest “crisis” since the one faced by FDR is both patently absurd and a testament to his lack of historical understanding.

    Biden’s continual misrepresentation of the automotive bailout as “saving the automotive industry” is equally absurd. First, the automotive industry in Germany was not saved by the bailout. So, let’s assume he means the American automotive industry. Even that characterization is flat false. The Ford Motor Company never requested or received bail out money. As a loyal Ford customer, I am very happy to drive vehicles that were not produced with the help of taxpayer money. I have owned five Fords in my life. They have all been great cars / trucks. I have owned 3 GM products. Two sucked out loud and one was mediocre. Sorry, Joe, this is a tale of a crappy company not the saving of an industry. In any regard, Chapter 11 reorganization would not have prevented GM from continuing to make bad products. It would have hurt the UAW members but it would not have necessarily meant the end of GM. Obama and Biden ought to tell the truth and refer to the ill conceived bail out as the UAW bailout.

  4. re: ” However, to declare the current “crisis” to be the biggest “crisis” since the one faced by FDR is both patently absurd and a testament to his lack of historical understanding.”

    Can you name others?

    By virtually any measure, most economists agree that this is as bad as it gets with the exception of the great depression.

    this is the deepest recession in the history of the US except for the depression.

    No President, as Clinton said, could fix this in 4 years.

    Obama will tell you the truth – the opponents are lying out their backsides ….

    in terms of gridlock –

    two different debt commissions have pointed out that there is no way to fix the deficit and debt without more revenues.

    there has to be a compromise on this and even DJ here believes in increased taxes for cause.

    we can and should cut entitlements. There is no question about that. But we cannot balance the budget without some cuts in DOD and increased revenues.

    we simply cannot afford to have people in leadership positions who refuse to deal with fiscal realities.. and hew to ideological doctrines from the Ayn Rand school of beliefs.

    Obama’s speech was flat but not as flat as Romney’s. Obama promised nothing much different than what he has done but Romney offered virtually nothing to show how he’d do differently. His approach is “trust me” and this is coming from someone who has a history of flip-flopping on issues.

    The people who have jobs at GM believe Mr. Biden by the way and they know they’d be unemployed if Mr. Romney was involved.

    Romney would outsource any/all US industry if someone could make a buck on it and the taxpayers would end up with these folks pensions and health care.

    1. DJRippert Avatar

      “Can you name others?”.

      The War of 1812? You know, when the British marched up to DC and burned the city down.

    2. DJRippert Avatar

      This site only has data going back to 1948 but the unemployment rate in the early 1980s was higher than it ever was in “The Great Recession”.

      http://www.tradingeconomics.com/united-states/unemployment-rate

    3. DJRippert Avatar

      “No President, as Clinton said, could fix this in 4 years.”.

      “If I don’t have this done in 3 years, mine will be a one term proposition.”

      Barack Obama, Feb 2009

      http://www.youtube.com/watch?v=CCN5-ovvFL0

      LarryG, are you awake?

  5. DJRippert Avatar

    “Romney would outsource any/all US industry if someone could make a buck on it and the taxpayers would end up with these folks pensions and health care.”.

    What has the US employment of Bain turnaround company Staples been over the last 20 years?

  6. re: statements made before finding out how bad the recession was going to be.

    yup.. blame him for his bad guesses

    but the point is, once you are in it – what do you do?

    when the recession is deeper and more severe than anyone thought are you really going to hold Obama to his guesses at the front of it?

    what does that really accomplish? between the outright lying and shading of the truth and replaying basically estimates of how bad the downturn was – what do you really accomplish ?

    Staples survived. What about all the companies that did not?

    what happened to those people and who ended up being responsible for their pensions and health care? Did Bain take care of the pensions and health care or did Bain make money by shedding them?

Leave a Reply