Wednesday, December 16, 2009

The Incredible Shrinking Obama Presidency

December 16, 2009

There are growing signs of a total meltdown of the Obama Presidency, with the very real prospect that, if the current rate of collapse of public support continues, Obama will have lost all political authority by January. This is the appraisal of several leading Democratic Party officials and senior U.S. intelligence sources, who have conferred with Executive Intelligence Review investigators over the past week. According to one senior Democratic Party strategist, it is not the Afghan war policy that has led to a four-percent collapse in approval for President Obama in the past week. First and foremost, it is the economy, the failure to reverse the jobs collapse, and the view that the President is more concerned about bankrolling Wall Street than the plight of the American people.
According to one senior intelligence source, it is normally the case that the Secretary of the Treasury is the Administration's chief spokesman on domestic policy issues. But Tim Geithner is so discredited, that the Obama Administration is resorting to Peter Orszag, Larry Summers, and Rahm Emanuel. "Geithner has fallen out of favor with Obama," the source reported, but "Summers has gained favor." The source noted that Christine Romer used a Sunday talking heads show to deliver a message to the President, that Larry Summers is full of crap when he says the recession is over and job growth will begin in the Spring. A tight-knit circle at the White House has even iced out some senior economic policy advisors—and the Cabinet departments are totally out of synch with the White House gaggle, the source elaborated.
There is so much confusion on Capitol Hill over the Obama West Point speech about Afghanistan that, today, Hillary Clinton, Bob Gates and Gen. Cartwright were sent to deliver a closed-door briefing to the entire House! A similar briefing will be given to the entire Senate later in the week.
According to top Democratic Party and Administration sources, the anger at the President escalated after the so-called jobs summit and especially after his soiree at the White House yesterday with top Wall Street executives. "It's still the economy, stupid," is the phrase being widely heard around the Democratic Party these days. Yet, according to sources close to the Obama White House, the President has made it clear that his top priority is still health-care legislation, and that jobs are not going to be tackled until after the health-care bill—any health-care bill—passes. Rahm Emanuel spent an hour early this week, meeting with Senate Majority Leader Harry Reid, demanding that Reid make whatever concessions to Joe Lieberman are needed, to secure his vote. With a public option now completely off the table in the Senate, other Democrats and independents, like Bernie Sanders, could refuse to vote for the final bill.
One of the most terrifying prospects for Congressional Democrats is recent polling data that shows that between 40-65 percent of registered African-American voters are not planning to vote in the midterms. "Do you know what that will mean in the South, in particular?" one top Democrat asked. Behind the scenes, the Congressional Black Caucus is in total revolt against the President, amazed that, under the first African-American President in history, African-American unemployment is at an all-time high, the source elaborated.
One top Democrat put it this way: The President does what he wants, the Cabinet is ignored, and now Obama is off to Copenhagen. Whatever he may have promised the Chinese about no binding caps on carbon emissions, and no international enforcement mechanisms, he is lying. He is going into Copenhagen, vowing that nobody will leave until a final, binding deal is signed. Africa has broken with Obama totally. We are headed for a major rift with China.
And, nothing has been done yet to solve the international monetary collapse. Dubai has been postponed, not settled. Greece is headed for sovereign default, and the list of other countries headed the same way is vast. Paul Volcker is running around the world, warning that the big crisis is coming, and that reregulation has to happen.

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