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Cracking good analysis!

Your suggestions for the Obama team trying to recover in 2010 is sound. Problem is that the overriding focus on ramming domestic programs down the voters throats will consume their political capital and blind them to glogal issues leaving the United States even more weakened on a global scale.

"So desparate to score points on climate change at Copenhagen for domestic political consumption, the Obama team tried to dress up a crap sandwich and back China into a corner."

Good point about climate change that has become a sore point for the 60% of Americans who are suffering through one of the coldest winters on record. The new joke, is wondering when the wanted posters for Al Gore are going to start appearing.

Thanks HG,

I agree that the overriding focus on pushing the Obama / Pelosi / Reid domestic agenda will greatly lower chances of moving towards a sane approach to the U.S. economy and foreign affairs. I think the phrase "stuck on stupid" here is appropriate.

Obama is projecting that this year will be the big return to fiscal responsibility, but this is not possible with his currently deployed (stimulus) and desired (health care reform, cap-and-trade) portfolio of domestic spending at the federal level. It will be interesting to see in his SOTU speach whether he will continue his effort to brand existing and desired domestic spending programs as bringing savings.

While families and businesses are trying to cut overhead and improve their financial position, the government is spending enough on federal and and state overhead to erase any gains the American people and businesses will have made and will make after almost a decade of profligate spending.

Ideally, the government would have cut overhead spending and went into deficity by returning capital back to business and the people as the foundation for a recovering economy.

As you note, this will leave the U.S. even more weakened on a global scale, in particular degrading our success and influence in foreign affairs, security and trade across the Asia-Pacific.

Cheers,

Shawn

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