The Great Obama Mystery

As Dakinikat has explained again and again and again and again, the problem our economy faces is that millions of Americans don’t have any money to spend because they don’t have jobs. Our economy runs on consumer spending. When people don’t have jobs, they don’t have money to spend on consumer items. That hurts our economy. It’s pretty simple, really.

But President Obama doesn’t understand simple basic economics. He’s already decided that high levels of unemployment are “structural.” He thinks our problem is that the government is spending too much money. Yesterday Obama gave another big ol’ nothingburger of a speech on how he’s giving away the store to negotiating with the Republicans in Congress.

Now, I’ve heard reports that there may be some in Congress who want to do just enough to make sure that America avoids defaulting on our debt in the short term, but then wants to kick the can down the road when it comes to solving the larger problem of our deficit. I don’t share that view. I don’t think the American people sent us here to avoid tough problems. That’s, in fact, what drives them nuts about Washington, when both parties simply take the path of least resistance. And I don’t want to do that here.

No, Mr. President, what is driving Americans “nuts” about Washington is that you and your Republican pals seem to be determined to crash the economy. Another thing that drives American’s “nuts” is that you haven’t lifted a finger to do anything about jobs since you took office. All you’ve done is take care of your superrich pals so they’ll donate to your next campaign.

I’ll bet you don’t even know that the latest PPP Poll shows that most Americans want to raise taxes on higher income people.

Poll data by the Democratic-aligned Public Policy Polling released Wednesday said voters in Ohio, Missouri, Montana and Minnesota back hiking taxes on the wealthy — even for people with incomes as low as $150,000.

The respondents were asked: “In order to reduce the national debt, would you support or oppose raising taxes on those with incomes over $1,000,000 a year?”

Nearly 80 percent of voters in the four states backed the idea.

And, BTW, Senator Reid, I’m pretty sure these voters want real tax increases, not phoney “sense of the Senate” resolutions. Back to Obama’s mealy-mouthed speech:

I believe that right now we’ve got a unique opportunity to do something big — to tackle our deficit in a way that forces our government to live within its means, that puts our economy on a stronger footing for the future, and still allows us to invest in that future.

Most of us already agree that to truly solve our deficit problem, we need to find trillions in savings over the next decade, and significantly more in the decades that follow. That’s what the bipartisan fiscal commission said, that’s the amount that I put forward in the framework I announced a few months ago, and that’s around the same amount that Republicans have put forward in their own plans. And that’s the kind of substantial progress that we should be aiming for here.

And on and on, bla bla bla…

I don’t know who you mean by “most of us” Mr. O, but I’m pretty sure most of us citizens don’t support the findings of your right wing cat food commission bipartisan fiscal commission.

President Obama just doesn’t get it. He might be able to learn a little bit about economics if he would just hire a few actual economists to advise him. But the big O thinks he already learned all he needs to know by listening to Ronald Reagan back in the ’80s. All of his economics advisers have left the sinking ship resigned, because Mr. O thought he knew better than they did. Remember this quote?

In his biography of Obama, “The Bridge,” David Remnick, editor of The New Yorker, quotes White House senior adviser and longtime Obama friend Valerie Jarrett: “I think Barack knew that he had God-given talents that were extraordinary. He knows exactly how smart he is. … He knows how perceptive he is. He knows what a good reader of people he is. And he knows that he has the ability — the extraordinary, uncanny ability — to take a thousand different perspectives, digest them and make sense out of them, and I think that he has never really been challenged intellectually. … So what I sensed in him was not just a restless spirit but somebody with such extraordinary talents that had to be really taxed in order for him to be happy. … He’s been bored to death his whole life. He’s just too talented to do what ordinary people do.”

You need to snap out of it, Mr. President; because our country is in big big trouble right now, and you’re really not as smart as you think you are.

Paul Krugman is an actual economist, and his hair is on fire. He can’t figure out what the President has against Keynesian economics.

I’m not alone in marveling at the extent to which Obama has thrown his rhetorical weight behind anti-Keynesian economics; Ryan Avent is equally amazed, as are many others. And now he’s endorsing the structural unemployment story too.

To those defending Obama on the grounds that he’s saying what he has to politically, I have two answers. First, words matter — as people who rallied around Obama in the first place because of his eloquence should know. Yes, he has to make compromises on policy grounds — but that doesn’t mean he has to adopt the right’s rhetoric and arguments. The effect of his intellectual capitulation is that we now have only one side in the national argument.

Second, since Obama keeps talking nonsense about economics, at what point do we stop giving him credit for actually knowing better? Maybe at some point we have to accept that he believes what he’s saying.

Why is Obama doing this, Krugman wants to know. It can’t be because he’s just stupid, can it? (That’s me, not Krugman)

Anyway, now Obama is handling the decisions about the economy all by himself. He’s even decided to “take the lead” in the budget talks with the Republicans–probably because he didn’t think VP Biden was caving quickly enough to Republican demands. Today,
CBS News reported that Obama wants to give the Republicans twice as much as they were originally asking for.

Two Democratic officials familiar with the negotiations over a deal to raise the debt limit said Wednesday that President Obama wants the final deal to be bigger than the $2 trillion deal that has been the focus of negotiations so far.

In fact, they said, Mr. Obama wants the deal to save the government as close to $4 trillion as possible.

Mr. Obama said Tuesday that lawmakers have “a unique opportunity to do something big,” and a deal to save the federal government $4 trillion would certainly qualify. The officials said the president believes “these moments come around at most once a decade” and that “you can’t run away from an opportunity like this.”

According to the officials, Mr. Obama believes that a larger deal would actually be easier to get through Congress. His thinking, they indicated, is this: Any major deal, whether it’s for $2 trillion in cuts or $4 trillion in cuts, will cause significant pain for both parties. But a larger deal allows backers to argue that despite their misgivings, they’ve taken a major step toward dealing with the deficit and debt problem.

Doesn’t Obama understand that cutting that much government spending is going to create even more unemployment? Is this man insane? No, he’s just a right wing Republican. Actually, maybe that does mean he’s insane.


Forget giving away the store — Obama is handing the store to Republicans and inviting them to burn it down.

Please read this shocking story at The New York Times — there’s no way for me to excerpt all the important parts.

Obama administration officials are offering to cut tens of billions of dollars from Medicare and Medicaid in negotiations to reduce the federal budget deficit, but the depth of the cuts depends on whether Republicans are willing to accept any increases in tax revenues.

Administration officials and Republican negotiators say the money can be taken from health care providers like hospitals and nursing homes without directly imposing new costs on needy beneficiaries or radically restructuring either program.

What this really means is that more doctors and hospitals will refuse to accept Medicare and Medicaid patients, and nursing homes will turn away frail elderly patients who can’t pay out of pocket–because Medicaid will no longer be able to assist those who are poor or have already spent their life savings on health care.

“Congress smells blood,” said William L. Minnix Jr., the chief lobbyist for nonprofit nursing homes.

Mr. Minnix, the president of a trade group known as LeadingAge, is urging nursing homes to “bombard your senators with the message that Medicaid cannot be cut by $100 billion” over 10 years, as President Obama and many Republican lawmakers have suggested.

A coalition of hospital lobbyists, worried about the direction of the budget talks, has begun a national advertising campaign to block further cuts in the two health care programs, which account for about 55 percent of hospital revenues. The hospitals have made a commitment to spend up to $1 million a week through August on television, print and online advertising.

Now check this out: Chuck Schumer, supposedly a Democrat, is quoted in the article as saying, “We are very willing to entertain savings in Medicare. Medicare gives very good health care very inefficiently.”

Really? Medicare has almost no overhead, and it pays way below the going rate for health care services. That’s why so few private doctors accept Medicare patients right now.

Now think about what Dakinikat has told us about the dangers of cutting federal spending and read this:

Medicare and Medicaid insure more than 100 million people, account for 23 percent of all federal spending and are likely to be an important part of any budget deal. Military spending, which accounts for about 20 percent of federal expenditures, is likely to be included as well.

President Obama and his Republican pals are on a mission to bring down the American economy and bring on a repeat of the Great Depression. Can anything or anyone stop them? We need riots in the streets, but can elderly people do it alone?


Tuesday Reads: Voodoo Economics, Whistleblowing, Torture, and Violence against Women and Children

Coffe and Morning News, by Tim Nyberg

Good Morning!!! Gee, that title doesn’t look so cheery, does it? Sorry, but please read on. Since we just ended a long holiday weekend, there’s not a whole lot of news happening, but I located a few interesting reads for you.

Dakinikat has been hammering away at the lack of economic knowledge in the media and in our government. Yesterday, she pointed me to this great piece by Mark Thoma in which he once again explained what actually caused the economic meltdown and why our “leaders” are doing the wrong things to help the economy recover.

I’ve written about this so much it’s hard to muster the will to take it on yet again, especially with the attitude it deserves, and I liked the second column better. But with David Brooks, George Will, and a new book by Gretchen Morgenson and Josh Rosner recently pushing the idea that Fannie, Freddie, and Democrats caused the financial crisis it’s important to push back. The right is very good at repeating their story line over and over and over, and if that redundancy goes unmatched — if they are allowed to have the last word many, many times over — they stand a good chance of capturing the narrative.

Actually, they’ve already “captured the narrative,” and President Obama has bought into it too. I don’t know if I can excerpt this piece, you really need to read the whole thing. But here’s just a bit:

…the targets for home ownership that supposedly led to Fannie and Freddie’s aggressive entry into subprime markets were set in 1992. If these targets were the problem, why didn’t the crisis occur sooner?

….if Fannie and Freddie had never existed, securitization would have likely happened anyway. As Barry Ritholtz notes, “securitized credit card receivables, auto loans, small biz loans, etc. took place without GSEs. I assume there would likely have been a private sector version for conforming loans, the way there was a private sector securitizing response to the demand for non-conforming (sub-prime) loans.”

The bottom line is that the case that the CRA, Fannie, and Freddie – and by implication Democrats supporting these institutions – were key players in the crisis is at odds with the evidence. Don’t get me wrong, there are lots for reasons to be concerned about Fannie and Freddie, and I’m not trying to defend them or their choices, but the idea that support of these institutions caused the financial crisis is wrong.

Hey, I’ve said this till I’m blue in the face, but I’ll say it again. We needed to put a Democrat in the White House in 2008.

Paul Krugman is also lamenting the economic ignorance in high places.

Watching the evolution of economic discussion in Washington over the past couple of years has been a disheartening experience. Month by month, the discourse has gotten more primitive; with stunning speed, the lessons of the 2008 financial crisis have been forgotten, and the very ideas that got us into the crisis — regulation is always bad, what’s good for the bankers is good for America, tax cuts are the universal elixir — have regained their hold.

And now trickle-down economics — specifically, the idea that anything that increases corporate profits is good for the economy — is making a comeback.

On the face of it, this seems bizarre. Over the last two years profits have soared while unemployment has remained disastrously high. Why should anyone believe that handing even more money to corporations, no strings attached, would lead to faster job creation?

Nonetheless, trickle-down is clearly on the ascendant — and even some Democrats are buying into it.

Once again, if we had put a Democrat in the White House in 2008, perhaps things would be different….

Via Kevin Drum, this article about NJ Governor Chris Christie contains some priceless quotes from NJ Senate President Stephen Sweeney.

Senate President Stephen Sweeney went to bed furious Thursday night after reviewing the governor’s line-item veto of the state budget. He woke up Friday morning even angrier.

“This is all about him being a bully and a punk,” he said in an interview Friday. “I wanted to punch him in his head.”

Sweeney had just risked his political neck to support the governor’s pension and health reform, and his reward was a slap across the face. The governor’s budget was a brusque rejection of every Democratic move, and Sweeney couldn’t even get an audience with the governor to discuss it.

“You know who he reminds me of?” Sweeney says. “Mr. Potter from ‘It’s a Wonderful Life,’ the mean old bastard who screws everybody”….The governor’s budget, he says, is full of vindictive cuts designed to punish Democrats, and anyone else who dared to defy him. And he is furious that the governor refused to talk to him during the final week….“He’s mean-spirited,” Sweeney said in the Friday interview. “He’s angry. If you don’t do what he says, I liken it to being spoiled, I’m going to get my way, or else.” And: “He’s a rotten prick.”

Jeeze, why doesn’t he tell us how he really feels?

Glenn Greenwald has a great post up about Bradley Manning’s motives for whistleblowing, drawn from some recently released “chat logs and other on-line communications” between Manning and another young man. The information was published in New York Magazine in an attempt to make Manning look psychologically troubled, but Greenwald reads the information differently. Here’s how Manning responded when asked what he was trying to accomplish:

hopefully worldwide discussion, debates, and reforms – if not, than [sic] we’re doomed – as a species – i will officially give up on the society we have if nothing happens – the reaction to the [Collateral Murder] video gave me immense hope; CNN’s iReport was overwhelmed; Twitter exploded – people who saw, knew there was something wrong . . . Washington Post sat on the video… David Finkel acquired a copy while embedded out here. . . . – i want people to see the truth… regardless of who they are… because without information, you cannot make informed decisions as a public.

Greenwald goes on to argue that many of Manning’s goals have actually been achieved. He made a difference, and that’s why our government is persecuting him.

At Danger Room there’s a very interesting review of a new book by former CIA operative Glenn Carle. The memoir tells the story of a CIA “black site” and a supposed senior al-Qaida operative that Carle was assigned to break. Eventually, Carle realized the man was innocent.

Uneasy with the CIA’s new, relaxed rules for questioning, which allow him to torture, Carle instead tries to build a rapport with the man he calls CAPTUS. But CAPTUS doesn’t divulge the al-Qaida plans the CIA suspects him of knowing. So the agency sends him to “Hotel California” — an unacknowledged prison, beyond the reach of the Red Cross or international law….

Carle provides the first detailed description of a so-called “black site.” At an isolated “discretely guarded, unremarkable” facility in an undisclosed foreign country (though one where the Soviets once operated), hidden CIA interrogators work endless hours while heavy metal blasts captives’ eardrums and disrupts their sleep schedules. But Carle — codename: REDEMPTOR — comes to believe CAPTUS is innocent….

“We had destroyed the man’s life based on an error,” he writes. But the black site is a bureaucratic hell: CAPTUS’ reluctance to tell CIA what it wants to hear makes the far-off agency headquarters more determined to torture him. Carle’s resistance, shared by some at Hotel California, makes him suspect. He leaves CAPTUS in the black site after 10 intense days, questioning whether his psychological manipulation of CAPTUS made him, ultimately, a torturer himself. Eight years later, the CIA unceremoniously released CAPTUS.

The jury has begun deliberations in the Casey Anthony case. I have continued to watch the trial closely and listened to all of the closing statements.

I know I’ll probably get yelled at for saying this, but if I were on the jury, I would have to go with one of the lesser charges, because there just isn’t any evidence to show how the child was killed. I do believe Casey Anthony should go to prison for a long time, but this trial has turned into a witch hunt.

If a man had done what Anthony did, there would never have been this much publicity and this amount of rage against the perpetrator. I shouldn’t have to point out that both men and women kill their children every day in this country. Both women and children are devalued in this country, and they are routinely abused and murdered. There are a number of reasons why this woman has been treated differently, but what she did is far from unique.

I honestly think Casey’s father George was involved with the disposal of the body at least. What motive did he have? I’ll tell you. George and Cindy Anthony thought the father of the child could have been either George or Casey’s brother Lee. I am convinced there was sexual abuse in that family. I can’t see how Casey could have become what she is without severe abuse. JMHO, based on personal experience and serious study of the effects of child sexual abuse.

Until we get serious about protecting children in this country, children will continue to die at the hands of their parents and other caregivers.

There is some possible news in the other case I’ve been following–the young Indiana University student who disappeared about four weeks ago, Lauren Spierer. The body of a woman has been found in a creek in Indianapolis. There are a couple of other missing women in Indiana, so it’s not clear this is Spierer. I just have a feeling it might be.

Police investigating the disappearance of Indiana University student Lauren Spierer are awaiting the results of an autopsy Tuesday of a decomposed female body found Sunday on the northeast side of Indianapolis.

The body, found a month after the Edgemont, N.Y., native went missing, had not been identified as of Monday night, and Bloomington, Ind., police have given no indication whether it may be her.

Spierer disappeared after a night when she had told her boyfriend she wanted to stay home. There are reports that they had had a fight. After midnight, she went out with some male friends, spent some time with them watching TV and then went with one of the young men to popular local bar. When she returned to her apartment with him, a group of men (possibly friends of her boyfriend) accosted them and punched her companion in the face.

The two then left and supposedly went to this young man’s apartment where he passed out. She then went to another apartment where another male friend lived. This man claims to have seen her leave his place at 4:30AM and turn the corner on her way home, but there is no independent confirmation of that.

At first this was investigated as a stranger abduction, but Spierer’s “friends” have all clammed up, and several have refused to talk to police and have retained lawyers. Most of them, including the boyfriend and the last guy to see Spirer, hightailed it out of town almost immediately. So now it looks like something bad happened to Spierer that night and these “friends” know something.

Since I grew up in Indiana and my sister lives in Bloomington, I’ve been following this case pretty closely. But women “disappear” every day too. Why do Americans tolerate it? Why do so many Americans seem to see the pervasive violence against women in this country as somehow normal?

That’s all I’ve got for today. What are you reading and blogging about?


Dumbed Down America

Time to bring back civics classes. Nearly a quarter of Americans don’t know when the Declaration of Independence was signed, or what country we declared independence from. From ABC’s The Note:

A Marist poll released Friday shows that only 58 percent of Americans know when the country declared independence. Nearly a fourth of respondents said they were unsure and sixteen percent said a date other than 1776, when the Declaration of Independence was signed.

Young people posted the most troubling scores with 41 percent of people ages 18 to 29 saying they were unsure when the Declaration of Independence was signed and 27 percent saying the wrong date.

One in four Americans do not even know which country the U.S. gained independence from. The correct answer, of course, is Great Britain, although 20 percent of respondents were unsure of that fact.

Again, age made a big difference. Middle-aged Americans – ages 30 to 44 – guessed the wrong country more than any other age group, or 10 percent of the time. The younger generation was less likely to be flat-out wrong, but was more likely to be unsure. About one third of Americans age 18 to 29 said they didn’t know for sure which country America won independence from.

That is so sad. I was just thinking this morning that I can remember the days when we were proud to be Americans–when it was important to know our history and be aware of our rights. What happened? That was before American culture became synonymous with corporate culture–before being greedy, selfish, and callous became the American way.

The final changeover happened under Ronald Reagan. That is when so many Americans bought into the notion that money was more important than human relationships, when “religious” people began to embrace “prosperity” rather than the old, outdated notions of “faith, hope, and charity (love).” Under Reagan, young people stopped preparing for careers in which they could help others or the society as a whole and started focusing on whatever job would bring in the most money.

Barack Obama came of age under Reagan, and as far as I can tell, although he calls himself a Democrat, the current occupant of the White House is totally sold on the Reagan philosophy. He doesn’t seem to know much about history or basic economics, even though he has degrees from two elite universities.

Not only is civics missing from high schools, but also Americans don’t get educated by the media anymore. When I was a kid, there were actually serious shows on TV that analyzed politics–not shouting, arguing shows, but real news shows. Today young people are watching TV shows like “Hoarders” and “Jersey Shore.” I’m next generation will learn to be even more greedy, selfish, and narcissistic than previous generations. I hope I’m wrong.

I know I sound like a bitter old woman–sorry about that. I grew up in the ’50s and ’60s, a time of great social change; but looking back now, it was a much simpler time. My generation has been called every insulting name in the book–selfish, narcissistic, rebellious. Tom Wolfe labeled us “the me generation” for looking within and seeking ways to become more awake and aware–for trying to understand human consciousness and for going into therapy.

Am I just doing what Tom Wolfe did–judging and misunderstanding the generations that came after mine? Please tell me I’m wrong!


Media Making Same Mistake with Bachmann They Made With Palin

Michele Bachmann announcing her presidential run in Waterloo, IA

Michele Bachmann officially announced her candidacy for the GOP presidential nomination today in her birthplace of Waterloo, Iowa. In her speech, she talked about growing up in Waterloo and how as a young girl she didn’t want to move away to Minnesota.

I often say that everything I needed to know I learned in Iowa. It was at Hawthorne and Valley Park Elementary Schools and my home, both a short distance from here, where those Iowan roots were firmly planted. It’s those roots and my faith in God that guide me today. I’m a descendent of generations Iowans. I know what it means to be from Iowa—what we value and what’s important. Those are the values that helped make Iowa the breadbasket of the world and those are the values, the best of all of us that we must recapture to secure the promise of the future.

[….]

I’m also here because Waterloo laid the foundation for my own roots in politics. I never thought that I would end up in public life. I grew up here in Iowa. My grandparents are buried here. I remember how sad I was leaving Iowa to go to Minnesota in the sixth grade, because this part of Iowa was all I knew—I remember telling my parents that we couldn’t move to Minnesota because I hadn’t even been to Des Moines to see the state capitol.

I’m guessing Bachmann’s recollections of Iowa probably made a good impression on her audience, but multiple media outlets are focusing on a gaffe Bachmann made in talking to a reporter. She claimed that John Wayne was from Waterloo, but the only John Wayne born there was serial killer John Wayne Gacy.

Sure, that’s funny–and it’s one of many embarrassing gaffes made by Bachmann during her brief political career. But what is the point of ridiculing her about it while ignoring the scary policies she proposed in her speech? George W. Bush made lots of silly gaffes too, remember? But he was [I won’t say elected] President for two terms.

Furthermore, at conservative blog Hot Air, I learned the following.

It turns out there is a Waterloo connection for John Wayne:

Bachmann’s campaign pointed out to ABC News today that actor John Wayne’s parents did live in Waterloo, although the actor himself did not.
And a little internet research proves that point correct.
According to the book “Duke: We’re Glad We Knew You” by Herb Fagen, Clyde and Molly Morrison – actor John Wayne’s parents – lived in Waterloo early in their marriage – but they moved to Winterset before the birth of son Marion Mitchell Morrison (he changed his name to John Wayne professionally).

Says Dave Weigel, “I’m not from a small town, but I’m from a pretty anonymous place (Wilmington, Delaware), and I know that when you’ve got a tenuous local connection to a celebrity, you flaunt it.” Someone probably once told her that John Wayne’s parents met in Waterloo and either she wrongly assumed he’d been born there or else she’s fumbling a talking point about John Wayne’s family being from Waterloo. But this is simply too stupid a story to devote any further thought to, so let’s move on.

I agree with Weigel. I’d rather focus on making sure Bachmann doesn’t manage to soften her extremist image enough to get the nomination and have a shot at beating Obama.

The most important part of the speech, according to Jonathan Chait is this:

“We can win in 2012 and we will,” said Bachmann in launching her campaign. “Our voice has been growing louder and stronger. And it is made up of Americans from all walks of life like a three-legged stool. It’s the peace through strength Republicans, and I’m one of them, it’s fiscal conservatives, and I’m one of them, and it’s social conservatives, and I’m one of them. It’s the Tea Party movement and I’m one of them.”

Here’s Chait’s argument:

Bachmann is trying to break out of the box of the social conservative movement candidate and define herself as a mainstream Republican. First, she declares she can win. Then she pledges her fealty to all three issue families of conservatism, leaving social conservatism for last.

One reason commentators have so grossly underestimated her chances is that they have an antiquated model of the Republican Party in their minds. In that model, religious conservatives are a faction set off from the rest of the party. Pat Robertson could finish a strong second in the 1988 Iowa Caucus, but his appeal was completely limited to right-wing Christians brought into politics by social issues. But the religious right has changed — its power to bend the party to its will has decreased, and its focus has largely merged with that of the GOP as a whole, so that the religious right is almost as concerned with economics and foreign policy as with social issues.

Bachmann represents that transformation. She came into politics through Christianity, but has broadened that style of apocalyptic thinking to economics and foreign policy. There is hardly any difference in the way Bachmann warns that Obama’s policies will destroy the traditional family and the way she warns his economic policies will destroy the economy, or that his foreign policy will lead to the triumph of our enemies. And there’s hardly any difference in the way she discusses these issues and the way most other Republicans do. They are all speaking the same apocalyptic language now.

Unfortunately, Chait is right. The Republican party has moved so far to the right that the nutty fringe is now becoming mainstream. If Bachmann runs for President the whole public conversation is going to move even further right. Just look where Obama is now. He’s more conservative than Nixon–hell he’s more conservative economically than Reagan! Reagan worried about unemployment and social security. Obama couldn’t care less if we have 10% unemployment and old people dying in the streets.

But what’s the “progressive” response to all this? Juli Weiner ridicules Bachman’s “favorite metaphor,” the three-legged stool.

Not to be obtuse, but we counted four (4) legs on the metaphoric stool: “peace-through-strength Republicans,” “fiscal conservatives,” “social conservatives,” and “the Tea Party movement.” Is the Tea Party movement the stool itself, and not one of its legs? We’re English majors with no background in carpentry, but we feel confident in our interpretation.

Who knows? Who cares? Not the Republicans in Iowa, and apparently not in Florida either. Do progressives really think Mitt Romney will win primaries in Indiana, Ohio, and Pennsylvania over Michele Bachmann? I don’t. Can Romney beat Bachmann in the south? Give me a break! We need to see the serious threat her candidacy poses.

Is the ridicule just because she’s a woman? Because it sure looks like Bachmann is going to get the same treatment that Palin got in 2008. That is a big mistake, in my opinion. And how is the Obama administration responding to Bachmann’s speech? I found this statement from spokesman Ben LaBolt at MSNBC.

Congresswoman Bachmann talks about reclaiming the American Dream but her policies would erode the path to prosperity for middle class families. She voted for a budget plan that would extend tax cuts for the richest Americans on the backs of seniors and the middle class while ending Medicare as we know it. Congresswoman Bachmann introduced legislation to repeal Wall Street oversight – risking a repeat of the financial crisis — and while she voted to preserve subsidies for oil and gas companies she opposes making the investments necessary to enhance America’s competitiveness and create the jobs of the future.

What is Obama doing about those issues? A great big nothing, as far as I can tell. I’m expecting him to give away the store to the Republicans during his “negotiations” on raising the debt limit. If Obama doesn’t offer something besides “I’m less horrible,” we could very well end up with our first woman President–and not the woman we all wanted back in 2008.

Bachmann should not be underestimated.