Day By Day

Wednesday, February 11, 2009

A Failed Presidency?

Is it too early to declare Obama's to be a failed presidency? Apparently not.

From the Financial Times:

Has Barack Obama’s presidency already failed? In normal times, this would be a ludicrous question. But these are not normal times. They are times of great danger. Today, the new US administration can disown responsibility for its inheritance; tomorrow, it will own it. Today, it can offer solutions; tomorrow it will have become the problem. Today, it is in control of events; tomorrow, events will take control of it.
Read the whole thing here.

And even in his own party Obama don't got no respect.

The Huffington Post reports:

Administration officials were greeted with sarcasm and laughter Monday night when they briefed lawmakers and congressional staff on Treasury Secretary Tim Geithner's new financial-sector bailout project, according to people who were in the room.

The laughter was at its height when Obama officials explained that the White House planned to guarantee a wide swath of toxic assets -- which they referred to as "legacy assets" -- but wouldn't be asking Congress for money.
Read it here.

You gotta admit -- that's pretty bad. But I would wait a few more weeks before writing the whole thing off.