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Tuesday, March 17, 2009

More Blowback Against Obama Administration

Wapo headlines with "Anger Over Firm Depletes Obama's Political Capital", where they lay blame for the the blowback against Obama on the anger at his "inability" to block the $165 million paid out as bonuses to AIG exes, after handing AIG a fourth bailout.

President Obama's apparent inability to block executive bonuses at insurance giant AIG has dealt a sharp blow to his young administration and is threatening to derail both public and congressional support for his ambitious political agenda.

He then made public statements trying to make himself "on of the people", united in his "outrage", with them:

Obama himself sought to channel the public's sense of disbelief yesterday. "How do they justify this outrage to the taxpayers who are keeping the company afloat?" he said, declaring the bonuses an "outrage" that violate "fundamental values."

Perhaps they should have thought of contractual obligations before deciding to bailout AIG, yet again, making the total given to that company at around $170 billion dollars of tax payer funds.

What Wapo is not acknowledging is that it is not only anger over the bonuses, that is simply the latest in a long list of things angering the general public.

The $800 billion stimulus bill which has been shown won't stimulate, the $410 billion omnibus spending bill with almost 9,000 earmarks aka pork for our politicians and then news that the original stimulus bill might not do what Obama promised and he might ask for another one... all this money, tax payers money being played with like it is Monopoly money... has angered quite a few people and this bonus issue is the catalyst for that anger to become full blown.

If Obama loses the support of the people for his "agenda", he has no one but himself and his massive spending plans, to blame.