Friday, February 27, 2009

Obama Report Card (38 Days In)

Immediate Problems

Stimulus Plan - B
$200bn too small; too many tax cuts, not enough infrastructure spending or govt-backed jobs

Housing Plan - B (B+ if bankruptcy law change is passed)
Rewards some bad behavior; not comprehensive enough; but fixes 50-60% of problems

Banking Plan - D
Half measures and vagaries: the government is playing witch doctor to zombie banks by using voodoo accounting

General

Foreign Policy (in general) - B+
Some dialogue with Iran and Syria; a reasonable line with China and North Korea; better relations with Europe but not as connected on economics as should be; a better, more moderated stance on Russia and missile protection politics; firmer criticism of Israel in Gaza; strong special envoys (Holbrooke, Ross, and Mitchell)

Iraq - C-
Troop pullout is a little slow; a residual force of 50,000 is unacceptable, as are bases; need to work more with neighbors/UN

Afghanistan - C
Putting more troops in could be dangerous; not enough movement yet on diplomacy with Taliban/Pakistan

Health Care - A-
Good measures in stimulus plan; a down payment for universal coverage in the budget; end of govt over-payments to private plans; electronic medical records; drug/device effectiveness studies; and general thought to decreasing overbearing costs

Energy - A
Great choice for secretary in Steve Chu; large stimulus investment in green power grid and related research; large budget outlays for green investment, paid for by large-scale cap-and-trade taxes on polluters; commitment to fuel efficiency increases and a leveling off of the US carbon footprint

Budget/Taxes - A
Strongly prioritizes health care, renewable energy, and education; decreased inequality by raising taxes as much as 10% on the rich (30% on hedge fund managers) and lowering taxes for the other 95%. See a rare, glowing column by Paul Krugman.

Accountability - A
New measures to restrict lobbying after service in the White House; openness in budgeting and stimulus expenditures

Fixing Government Abuse of Laws - B
Closure of Gitmo, but possible inability to find a better solution; less secrecy; no large break on wiretapping or missile attacks in Pakistan

Education - B+
An end to private lenders for govt-backed loans; increase in Pell Grant amount; money for new school construction and tech; focus on the future; BUT support for charter schools and other problematic education ideas

Cabinet and Other Major Personnel Picks - B
Great picks like Steven Chu, Hilda Solis, and Shaun Donovan; bold picks like Hilary Clinton and keeping Bill Gates; strong regulators at the EPA and SEC; some good people in policy and congressional affairs; BUT problems with people dropping out and a major failure of imagination for his economics team (Tim Geitner is a Larry Summers lackey and Summers is bully who doesn't know what he is doing); Obama should have picked Paul Volker for Treasury.