It was the episode titled Mr. Monk Goes to the Circus, in which a ringmaster was killed by a very acrobatic individual. His date ran away, and when Monk finds her, he points out that she was afraid to draw attention to herself because she's trying to become a US citizen. When she asks him how he knows this, he ponts out the copy of the Constitution that she has in her bag and says, "No US citizen would ever read the Constitution." That's exactly how I felt as I watched Obama's speech last night. No one reads the Constitution, not even the President, and that's taking into account the fact that no one has proof of where Obama was born.
Now, from what I saw of the speech, Obama was contradicting himself all over the place. One of the things that really caught my ears was when he was talking about energy, since he seems to a disciple of Al Gore. He said something about our dependency on oil being the reason for this economic crisis, which means that he knows nothing about how we've managed to run ourselves into debt. Oil hasn't been eating that much of our savings, but our foreign policy has. Not to mention the nanny state, etc.
He also swears to find us better healthcare (does this include killing our seniors as the stimulus plan says?), funding our education ('cause we all know that we can afford more government funding), and to throw more and more government spending in our faces until we're so inflated that our currency is no longer worth anything.
Now, I'm going to break down the whole speech for you as I did for the inaugural speech. However, I'm including Schiff's response to it at the bottom, so you have something from an actual professional and not just a bunch of sarcastic, sardonic, and common sense stuff from me. So, let's break this baby down.
Madam Speaker, Mr. Vice President, members of Congress, the First Lady of the United States -- (applause) -- she's around here somewhere.
You'll see the applauses everywhere, most of them led by Nancy Pelosi, who really needs to find something for those dry eyes of hers.
I have come here tonight not only to address the distinguished men and women in this great chamber, but to speak frankly and directly to the men and women who sent us here.
Gee, I wonder who those people are...
I know that for many Americans watching right now, the state of our economy is a concern that rises above all others. And rightly so. If you haven't been personally affected by this recession, you probably know someone who has -- a friend; a neighbor; a member of your family.
No, I'm pretty sure we've all been affected by this recession-turning-depression.
You don't need to hear another list of statistics to know that our economy is in crisis, because you live it every day. It's the worry you wake up with and the source of sleepless nights. It's the job you thought you'd retire from but now have lost; the business you built your dreams upon that's now hanging by a thread; the college acceptance letter your child had to put back in the envelope. The impact of this recession is real, and it is everywhere.
Check, check, and check. However, I'm afraid Obama's lack of knowledge when it comes to economics is what keeps me awake at night.
But while our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before. (Applause.)
Yeah, we probably will recover, but not under Barrack Obama. Here, all I see is a charismatic leader playing the optimistic we're-stronger-than-ever card. Who wants to hear a pessimistic leader?
The weight of this crisis will not determine the destiny of this nation.
Wanna make a bet?
The answers to our problems don't lie beyond our reach. They exist in our laboratories and our universities; in our fields and our factories; in the imaginations of our entrepreneurs and the pride of the hardest-working people on Earth. Those qualities that have made America the greatest force of progress and prosperity in human history we still possess in ample measure. What is required now is for this country to pull together, confront boldly the challenges we face, and take responsibility for our future once more. (Applause.)
I agree, although the answers to our problems also lie in the laps of our politicians, most of whom act like chickens with their heads cut off.
Now, if we're honest with ourselves, we'll admit that for too long, we have not always met these responsibilities -- as a government or as a people. I say this not to lay blame or to look backwards, but because it is only by understanding how we arrived at this moment that we'll be able to lift ourselves out of this predicament.
I agree with him here as well, but I'm sure that our ideas of what the role of government ought to be differ immensely.
The fact is, our economy did not fall into decline overnight. Nor did all of our problems begin when the housing market collapsed or the stock market sank. We have known for decades that our survival depends on finding new sources of energy. Yet we import more oil today than ever before.
Ha, I knew I remembered hearing this! Hey, Obama, you really want to know what started this decline? Check out the Federal Reserve's history, our insane foreign policy, etc.
The cost of health care eats up more and more of our savings each year, yet we keep delaying reform.
Remember back when health care was a charity thing for the poor? Before lobbyist and government stuck their large noses into health care, you were charged based on what you could pay. Health care reform would mean getting government out, not trying to pay for everyone with taxpayer money. Besides, what with all the other extravagant spending going on, that we taxpayers will have to pay for, by the way, how does he expect to accomplish this?
Our children will compete for jobs in a global economy that too many of our schools do not prepare them for.
So much for national sovereignty. Anybody remember No Child Left Behind?
And though all these challenges went unsolved, we still managed to spend more money and pile up more debt, both as individuals and through our government, than ever before.
I think what he means to say is, "And while we were trying to fund and regulate all this and more, we managed to spend even more money and pile up more debt, both as individuals and through our government ever before."
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. (Applause.)
Guess what? That's what the stimulus package does! It's just a short-term answer to our problem that's going to bury us in the future. Take your own advice Obama, or can you not see beyond tomorrow?
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.
Stop blaming the free market! Regulations were not gutted, and the market was unhealthy because of it! If anything, deregulation of the Federal Reserve is what caused this. They pumped in the money and have been papering over this problem for a long time. Blame them, for they are the curs who need regulation.
Now is the time to act boldly and wisely -- to not only revive this economy, but to build a new foundation for lasting prosperity. Now is the time to jumpstart job creation, re-start lending, and invest in areas like energy, health care, and education that will grow our economy, even as we make hard choices to bring our deficit down. That is what my economic agenda is designed to do, and that is what I'd like to talk to you about tonight.
Obama certainly is acting boldly, but hardly wisely. You can't start lending out what you don't have, for starters. And you can't invest in anything as long as you don't have money to invest! Spending like Paris Hilton in Vegas isn't going to solve these problems. Instead, the government needs to save and bring down the deficit.
It's an agenda that begins with jobs. (Applause.)
Oh goody, jobs! Maybe Realms of Fantasy will come back to life and I can sell them an awesome story about a charismatic wizard who sunk a legendary king's country because he promoted bad policies and enchanted all the trees to produce unimaginable amounts of money.
As soon as I took office, I asked this Congress to send me a recovery plan by President's Day that would put people back to work and put money in their pockets.
You mean like giving jobs to minorities regardless of whether they can actually perform said job?
Not because I believe in bigger government -- I don't.
I usually don't call people hypocrites, as it's such a strong word, but here I go: HYPOCRITE! You''re whole platform revolved around the expansion of government! Even George Bush was more conservative than you, and I don't count Bush as a very conservative individual.
Not because I'm not mindful of the massive debt we've inherited -- I am.
To give him the benefit of the doubt, I do think that he may actually think he's doing the right thing and not intentionally trying to bury us all.
I called for action because the failure to do so would have cost more jobs and caused more hardship. In fact, a failure to act would have worsened our long-term deficit by assuring weak economic growth for years. And that's why I pushed for quick action. And tonight, I am grateful that this Congress delivered, and pleased to say that the American Recovery and Reinvestment Act is now law. (Applause.)
Remember earlier when he was talking about quick fixes? That's exactly what this is. His actions are going to do great harm to this nation, and his neverending spending is going to make the deficit worse, as you can't lower the deficit if you don't cut spending.
Over the next two years, this plan will save or create 3.5 million jobs. More than 90 percent of these jobs will be in the private sector -- jobs rebuilding our roads and bridges; constructing wind turbines and solar panels; laying broadband and expanding mass transit.
Is this the part with the minorities? Why don't we just stop outsourcing all our jobs?
Because of this plan, there are teachers who can now keep their jobs and educate our kids. Health care professionals can continue caring for our sick. There are 57 police officers who are still on the streets of Minneapolis tonight because this plan prevented the layoffs their department was about to make. (Applause.)
And you further put is in debt, didn't you?
Because of this plan, 95 percent of working households in America will receive a tax cut -- a tax cut that you will see in your paychecks beginning on April 1st. (Applause.)
You should only cut taxes if you plan to cut spending, but I haven't seen that at all yet. How are we going to pay for this? The printing press at the Federal Reserve will supply the currency, but for every dollar they print, they charge interest, which taxpayers pay back.
Because of this plan, families who are struggling to pay tuition costs will receive a $2,500 tax credit for all four years of college. And Americans -- (applause) -- and Americans who have lost their jobs in this recession will be able to receive extended unemployment benefits and continued health care coverage to help them weather this storm. (Applause.)
Admittedly, this sounds really good, but it's not possible.
Now, I know there are some in this chamber and watching at home who are skeptical of whether this plan will work.
You got that right. I suppose he's not totally blind after all!
And I understand that skepticism. Here in Washington, we've all seen how quickly good intentions can turn into broken promises and wasteful spending. And with a plan of this scale comes enormous responsibility to get it right.
It's already started! The broken promises and wasteful spending is already here! This whole plan cannot go right because it's wrong from the start.
And that's why I've asked Vice President Biden to lead a tough, unprecedented oversight effort -- because nobody messes with Joe. (Applause.) I -- isn't that right? They don't mess with you.
Gee, I wish Statler and Waldorf were there to watch this circus - they'd have had a ball with that one!
I have told each of my Cabinet, as well as mayors and governors across the country, that they will be held accountable by me and the American people for every dollar they spend. I've appointed a proven and aggressive Inspector General to ferret out any and all cases of waste and fraud. And we have created a new website called recovery.gov so that every American can find out how and where their money is being spent.
Recovery.gov, right? I can't wait to blog about it in the future!
So the recovery plan we passed is the first step in getting our economy back on track. But it is just the first step. Because even if we manage this plan flawlessly, there will be no real recovery unless we clean up the credit crisis that has severely weakened our financial system.
By saving money and bringing jobs home, right?
I want to speak plainly and candidly about this issue tonight, because every American should know that it directly affects you and your family's well-being. You should also know that the money you've deposited in banks across the country is safe; your insurance is secure; you can rely on the continued operation of our financial system. That's not the source of concern.
No, I'm more concerned about my money being worthless. Yeah, it'll still be in the bank, but it won't have value.
The concern is that if we do not restart lending in this country, our recovery will be choked off before it even begins.
Lending is going to run up the deficit and cause runaway inflation. Glad to see the President knows how to look ahead!
You see -- (applause) -- you see, the flow of credit is the lifeblood of our economy. The ability to get a loan is how you finance the purchase of everything from a home to a car to a college education, how stores stock their shelves, farms buy equipment, and businesses make payroll.
However, we have to have cars to buy, shelves to stock, etc. Credit is important, I believe that, but you still cannot lend what you don't have because the deficit will come back to bite you in the butt. Obama seems to think that by causing consumers to spend, it will automatically make up the deficit, but it won't. We're spending too much, printing too much, and outsourcing too much.
But credit has stopped flowing the way it should. Too many bad loans from the housing crisis have made their way onto the books of too many banks. And with so much debt and so little confidence, these banks are now fearful of lending out any more money to households, to businesses, or even to each other. And when there is no lending, families can't afford to buy homes or cars. So businesses are forced to make layoffs. Our economy suffers even more, and credit dries up even further.
Credit is important, but lending is, again, adding to the problem. Do consumers need confidence in their banks? Yes, definately, but banks need to take responsibility for themselves and not loan what they can't afford to lose. We also need to take responsibility for ourselves by refusing to live beyond our means. Our own government doesn't set a good role model for us in this regard, but we have to. What Obama says in this paragraph makes sense to a certain degree, but he acts like credit is the only way out and it isn't.
That is why this administration is moving swiftly and aggressively to break this destructive cycle, to restore confidence, and restart lending.
Again, it's too early in the crisis to start lending. We can't lend what we don't have, and we can't rely on our unregulated Federal Reserve to be responsible with the money they're printing. Don't regulate the market, regulate the Federal Reserve, and don't lend what we don't have. It's up to the government to start saving, up to American companies to stop going overseas, and up to us to buy only what we can afford.
And we will do so in several ways. First, we are creating a new lending fund that represents the largest effort ever to help provide auto loans, college loans, and small business loans to the consumers and entrepreneurs who keep this economy running. (Applause.)
Thus running up the deficit; we've been down this road before. Besides, some small business owners say that they're doing much worse under Obama's leadership than before.
Second -- second, we have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values -- Americans who will now be able to take advantage of the lower interest rates that this plan has already helped to bring about. In fact, the average family who refinances today can save nearly $2,000 per year on their mortgage. (Applause.)
Aside from the fact that this borders socialism, we have the problem in that Americans have been living way beyond their means again. The middle-class has been pretending to be rich (luckily I'm poverty-stricken, so I learned how to live within my means), and they aren't being held accountable. Let them sell their houses and downsize - we don't need to live in fine mansions. The housing bubble will only get bigger if we make artificially low interest rates, which are caused by inflating the money and devaluing the currency.
Third, we will act with the full force of the federal government to ensure that the major banks that Americans depend on have enough confidence and enough money to lend even in more difficult times. And when we learn that a major bank has serious problems, we will hold accountable those responsible, force the necessary adjustments, provide the support to clean up their balance sheets, and assure the continuity of a strong, viable institution that can serve our people and our economy.
I'm half afraid that this will lead to nationalizing the banks, which leads to socialism. You know, a poll says that 75% of Europeans blame the Central Banks for their economic problems. I'm pretty sure that 75% of Americans blame Bush. How sad is that? We, who have never been so far down the road to socialism before, don't understand its implications, and we scoff at the countries who have gone down that path and now shout their warnings to us.
I understand that on any given day, Wall Street may be more comforted by an approach that gives bank bailouts with no strings attached, and that holds nobody accountable for their reckless decisions. But such an approach won't solve the problem. And our goal is to quicken the day when we restart lending to the American people and American business, and end this crisis once and for all.
This is just tricky wording to make sure it's drilled into our heads that free markets are bad and big government is good.
And I intend to hold these banks fully accountable for the assistance they receive, and this time, they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer. (Applause.) This time -- this time, CEOs won't be able to use taxpayer money to pad their paychecks, or buy fancy drapes, or disappear on a private jet. Those days are over. (Applause.)
Again, more lending. He's just talking in circles now.
Still, this plan will require significant resources from the federal government -- and, yes, probably more than we've already set aside.
Barrack Obama, we the people can always count on you to devalue our currency even more. Whatever happened to us taking our lives into our own hands and owning up to our mistakes? What was it Sharona said in the aforementioned episode of Monk? "Suck it up."
But while the cost of action will be great, I can assure you that the cost of inaction will be far greater, for it could result in an economy that sputters along for not months or years, but perhaps a decade. That would be worse for our deficit, worse for business, worse for you, and worse for the next generation. And I refuse to let that happen. (Applause.)
Worse for the next generation? Yeah, I want to watch my little cousin try and pay back all this money we're printing. Here's the deal, if we do nothing and pretend this isn't happening just as we've done for the past how many years, we'll hit a depression.
If we bring our troops home, our jobs home, toss out a truck load of government programs, and put a leash on the Federal Reserve, the market will balance itself out. We'll suffer for a time, but we'll come out of it, the currency will deflate some, and we can work on our deficit.
If we let Obama have his way, we'll inflate until the dollar no longer holds value, enter a long depression, and possibly wind up at the mercy of a global empire. This is what we want to avoid at all cost! Even now, the MSM pushes for a Revolution. Let us peacefully end this silly charade of politics.
Now, I understand that when the last administration asked this Congress to provide assistance for struggling banks, Democrats and Republicans alike were infuriated by the mismanagement and the results that followed. So were the American taxpayers. So was I. So I know how unpopular it is to be seen as helping banks right now, especially when everyone is suffering in part from their bad decisions. I promise you -- I get it.
Does he really?
But I also know that in a time of crisis, we cannot afford to govern out of anger, or yield to the politics of the moment. (Applause.) My job -- our job -- is to solve the problem. Our job is to govern with a sense of responsibility. I will not send -- I will not spend a single penny for the purpose of rewarding a single Wall Street executive, but I will do whatever it takes to help the small business that can't pay its workers, or the family that has saved and still can't get a mortgage. (Applause.)
Politicians trying to convince us that our best interests is at their core.
That's what this is about. It's not about helping banks -- it's about helping people. (Applause.) It's not about helping banks; it's about helping people. Because when credit is available again, that young family can finally buy a new home. And then some company will hire workers to build it. And then those workers will have money to spend. And if they can get a loan, too, maybe they'll finally buy that car, or open their own business. Investors will return to the market, and American families will see their retirement secured once more. Slowly, but surely, confidence will return, and our economy will recover. (Applause.)
More of the same. When do we get change?
So I ask this Congress to join me in doing whatever proves necessary. Because we cannot consign our nation to an open-ended recession. And to ensure that a crisis of this magnitude never happens again, I ask Congress to move quickly on legislation that will finally reform our outdated regulatory system. (Applause.) It is time -- it is time to put in place tough, new common-sense rules of the road so that our financial market rewards drive and innovation, and punishes short-cuts and abuse.
Look, Ma! Socialism!
The recovery plan and the financial stability plan are the immediate steps we're taking to revive our economy in the short term. But the only way to fully restore America's economic strength is to make the long-term investments that will lead to new jobs, new industries, and a renewed ability to compete with the rest of the world. The only way this century will be another American century is if we confront at last the price of our dependence on oil and the high cost of health care; the schools that aren't preparing our children and the mountain of debt they stand to inherit. That is our responsibility.
The only problem is that his short-term solution is going to lead us head-first into a long-term depresssion.
In the next few days, I will submit a budget to Congress. So often, we've come to view these documents as simply numbers on a page or a laundry list of programs. I see this document differently. I see it as a vision for America -- as a blueprint for our future.
Too bad Congress hates this budget, almost unanimously!
My budget does not attempt to solve every problem or address every issue. It reflects the stark reality of what we've inherited -- a trillion-dollar deficit, a financial crisis, and a costly recession.
What does he think the stimulus bill is going to do?
Given these realities, everyone in this chamber -- Democrats and Republicans -- will have to sacrifice some worthy priorities for which there are no dollars. And that includes me.
This is what we call pandering to the audience with the old, "We're all in this together!" crap.
But that does not mean we can afford to ignore our long-term challenges. I reject the view that says our problems will simply take care of themselves; that says government has no role in laying the foundation for our common prosperity.
The government's role is very simple: ensure our freedom and protect our borders - a great recipe for prosperity. The States get to handle everything else.
For history tells a different story. History reminds us that at every moment of economic upheaval and transformation, this nation has responded with bold action and big ideas. In the midst of civil war, we laid railroad tracks from one coast to another that spurred commerce and industry. From the turmoil of the Industrial Revolution came a system of public high schools that prepared our citizens for a new age. In the wake of war and depression, the GI Bill sent a generation to college and created the largest middle class in history. (Applause.) And a twilight struggle for freedom led to a nation of highways, an American on the moon, and an explosion of technology that still shapes our world.
History also tells us that when we behave the way we currently are, nations come to an end. See the Soviet Union for details.
In each case, government didn't supplant private enterprise; it catalyzed private enterprise. It created the conditions for thousands of entrepreneurs and new businesses to adapt and to thrive.
Is he trying to say that the Federal Government made these businesses thrive? Well, he's right; just look at Enron.
I'm going to do a part 2 soon. This is getting a lot longer than I thought. I hope I managed to shed some light on the flaws of this speech.
And I found it! The actual speech, so grab a paper bag, or a plastic bag, since it catches the vomit better, and get ready.
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