But President Obama's speech was worthy of applause. He didn't present any new policy, but I have to say I felt a tiny bit more optimistic by the end. And despite all the devotion to bipartisanship, Obama stuck it to the Republicans:
In other words, we have lived through an era where too often, short-term gains were prized over long-term prosperity; where we failed to look beyond the next payment, the next quarter, or the next election. A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future. Regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn’t afford from banks and lenders who pushed those bad loans anyway. And all the while, critical debates and difficult decisions were put off for some other time on some other day.I've recently learned that the looting of a company's wealth is called a "bust-out" con, and it accurately describes eight years of the Bush administration: "...fraudsters pretending to take an interest in running a business use a down payment to gain access to the company’s credit lines and assets, then max out all the credit lines, sell off assets at fire sale prices, then clear out just before the deposit check bounces, leaving a bankrupted company hollowed out by unpayable debt." I'm assuming that's against the law.
After Obama's speech, Louisiana Governor Bobby Jindal stepped out to give the Republican boilerplate response. Oh God. First of all, why the rebuttal speech? I guess it's automatically assumed that the other party will be opposed to everything the President says. But obviously, if you want the public to ever trust Republicans again, don't remind them about Hurricane Katrina! Don't go there Jindal! No! Anyway, my response to Jindal's response: "a star was not born tonight."