Investing in America: Obama's Second State of the Union
Reading the headlines following Obama’s Second State of the Union Address, it is striking how much the Administration has echoed the policy thoughts of smart money managers – calling for greater fiscal responsibility, real investment (education, physical infrastructure, transport, and access to information), job creating policies, lower and transparent corporate tax rates, and an emphasis on the production of physical goods and the international trade relations – rather than slapstick solutions that simply push consumers back into the shopping malls, propping up GDP levels from consumption.
It’s refreshing to see a strong Obama return and not miss opportunity to display smart policy when the floor is open. Getting the national debt is certainly in order, so the speech should encourage investors, trading partners, and citizens alike. While it was smart to shuffle out #42 to quiet critics as he made what appears to be a successful move to the center, it was equivalent to leaving money on the table to not leverage some of America’s richest vocally in favor of increasing tax rates on the wealthy.
Time will tell whether words turn to meaningful legislation, but one thing is certain: it is an interesting period and presidency to analyze from a media standpoint. (And nice parting work, Mr. Gibbs!)
- 24hr News Cycle, Bill Clinton, Bill Gross, Consumption, Economic Policy, Education, Fiscal Policy, Infrastructure Spending, Obama, Robert Gibbs, Stimulus Checks, Warren Buffett,