President Barack Obama made the middle class the focus of his State of the Union address on Tuesday. He was lauded by some as fighting for jobs and opportunity, and even for launching a “war on inequality” equivalent to President Lyndon B. Johnson’s 1960s War on Poverty. He was assailed by others for showing his true colors as a man of big government and wealth redistribution.
The Great Debate
In his State of the Union address on Tuesday, President Barack Obama will reportedly reiterate his interest in reducing the threat of nuclear weapons, though unlikely to announce specifics. The administration is interested in seeking an agreement with Russia, building on the New Strategic Arms Reduction Treaty (START) of 2010 and cutting U.S. strategic nuclear forces by another third in the expectation that Moscow will do the same with its nuclear arsenal.
President Barack Obama stirred with an unexpectedly powerful inaugural address – a second effort that far surpassed his first. He summoned great themes of American history to argue cogently for his second-term agenda. Now he has a chance to deliver a State of the Union address that improves on those of his first term, too.
We’re getting beat by Estonia.
Not that there’s anything wrong with the tiny state on the Baltic Sea. But the nation that built the Hoover Dam, pioneered the Interstate Highway System and created the best aviation system in the world, is rapidly sliding toward the bottom of the list when it comes to infrastructure.
To all the vaunted traditions of the absurd partisan charade in Washington, we can now add another: Republicans attacking President Barack Obama for the results of their own policies. Most recently we saw it last Wednesday. No sooner did the Bureau of Economic Analysis (BEA) announce Wednesday morning that our gross domestic product had shrunk by 0.1 percent in the last three months of last year than Republicans began disseminating misleading talking points.
President Barack Obama pledged to cut the deficit in half by the end of his first term. But because he focused on political gimmicks, rather than real reform, we’ve seen trillion-dollar deficits and nearly $6 trillion added to the debt instead. Based on what we heard from the president at a news conference Tuesday, his unserious attitude is likely to continue.
Two tough issues — immigration reform and gun control. “It won’t be easy,” President Barack Obama said about gun control in December, “but that’s no excuse not to try.” Tuesday, he said about immigration reform: “The closer we get, the more emotional this debate is going to become.”
There has been much ado lately about the Democratic Party’s new project to turn Texas blue. What’s lost on the liberals in D.C., California and Manhattan who will throw money at this futile effort, however, is that the Texas Republican Party is different and far stronger than its counterparts in other states. And it’s not just because the Lone Star State under Republican control has become the envy of the nation in terms of job creation and economic growth.
from The Great Debate UK:
--Laurence Copeland is a professor of finance at Cardiff University Business School. The opinions expressed are his own.--