Friday, April 28, 2017

Grading Trump on the Obama standard

On Day 99 of the 1,461 days of President Trump's first term, I am amused by the impatience of the press to grade his first 100 days as a failure. Had they waited a few days longer, the press might have some idea of what it was talking about. How embarrassing it should be to cite as a failure the repeal and replacement of Obamacare, even as President Trump gathers the votes to pass the House.

But in grading President Trump, how about we use the Obama standard? True, that is like lowering the bar to the ground, but fair is fair.

From Time magazine eight years ago:
Instantly comfortable and highly skilled at the hardest job in the world — proving his supporters' contention that all the traits that made him a great candidate would serve him well in the White House: even temper, cool demeanor, boldness under pressure, shrewd facility for managing personnel, unfailing instincts about when to delegate and when to engage. A handful of public missteps (particularly on his international trips and on torture issues) and a failure to ameliorate the partisan divide are the only true blemishes so far. Has ably balanced the spectacle and the grindstone — allowing the public to feel an intimacy with his life and family, while retaining a formal distance as he handles business.
To be fair, at the time, Obama faced a deep recession triggered by President Bush 43's push for home ownership as a right.

The federal government lifted down-payments for thousands of people who were marginal risks for mortgages. This encouraged banks to lend to millions of what were euphemistically called "sub-prime borrowers," which really meant people you should not even loan a pair of scissors to.

This inflated housing prices initially, encouraging construction, and then collapsed the housing market when mortgage payments came due and these home owners could not find your scissors let alone the mortgage money.

We can argue the physician's prescription but Dr. Obama did keep the financial world from collapsing. Crediting Tim Geithner or any other policy wonk for the plan does not diminish his leadership on the issue. A.

Long-term policy? Hahaha. Gentleman's D, at best. But we were at 100 days and do not know that the stimulus would be the corrupt awful mess that conservatives predicted it would be.

Grading President Trump on the economy by the Obama standard is easy. Trump has brought back jobs and investments in construction, manufacturing, and mining by working from Minus 73 (November 9, 2016) on jobs. A. 

Time gave Obama credit for his attempt to close Gitmo, which the last time I checked, Gitmo was still open. So let's credit Trump with the ending open visas with terrorist countries and funding sanctuary cities. A-plus.

Time also blamed Republicans for not playing nice with Obama, so we must blame Democrats for not getting along with Trump. Another A.

Of course they will judge Trump harsher, but does it matter? As long as he holds the people who elected him president, Donald Trump does not need to convince any others.

Look at Obama in 2012.

100 days is a silly mark, but I remain convinced my guy is doing well, just as Time was convinced its guy was doing well.

Just what that proves is beyond me.

Meanwhile, Glenn Reynolds graded Trump on the Hillary scale:
President Trump was elected in no small part because he was not Hillary Clinton, and he's done an A+ job of not being Hillary Clinton during his first 100 days.
Heh.




The original, "Trump the Press" chronicled and mocked how the media missed Trump's nomination.

It is available on Kindle, and in paperback.
Then came "Trump the Establishment," covering the election, which again the media missed.

It is available on Kindle, and in paperback.

Autographed copies of both books are available by writing me at DonSurber@GMail.com

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9 comments:

  1. "To be fair, at the time, Obama faced a deep recession triggered by President Bush 43's push for home ownership as a right." I beg to differ, sir. In 1977, to prevent redlining and make home loans available, President Carter signed the Community Reinvestment Act. This began the lowering of the requirements for purchasing a home. The Clinton Administration pushed for 30% of the loans to be so called sub prime loans with no down and reduced credit requirements. These loans and those properly vetted/backed were bundled into derivatives and sold similar to bonds to financial institutions. There were attempts to modify the program in congress during Bush's Administration but the attempts failed; who wanted to take a "right" of housing from those who could ill afford it. Someone/someplace must have asked what was in the derivatives and when it was known that they contained limited backed sub prime mortgages, the confidence in the derivatives collapsed as did the financial institutions that were heavily invested in them. Politically connected Goldman Sach was bailed out but Lehman Brothers, not so connected, was not. My retirement was heavily into Lehman Brothers bonds which became worthless when they went bankrupt. One half of my life savings/retirement was lost in this downturn.

    The good intensions of 1977 became the destruction of my retirement in 2008. And now I have been laid off from my oil field job in Canada. The money I saved there, because the Canadian dollar was falling, to later replenish my retirement funds has lost 25-27% of its value since the Canadian dollar follows the price of oil. At 72 it is a bit hard to recover from such a loss. But I know people who have lost every bit of their life savings.
    If Bush is to share in the blame, Clinton and the Democratically controlled Congress under him and Bush has a major portion of the blame.

    ReplyDelete
    Replies
    1. Nailed it. Although Bush criticized the CRA he did nothing to stop it. There were a few people calling the bubble, but by the time they were calling it there was so little time for most that were in deep there was no way out.

      Delete
    2. W tried to reform Fannie and Freddie, but the Dems would have non of it and the Repubs, especially then, do not fight back.

      Delete
  2. If we are grading Trump by the Obama standard then where is his Nobel Peace Prize?

    ReplyDelete
  3. "To be fair, at the time, Obama faced a deep recession triggered by President Bush 43's push for home ownership as a right." I beg to differ, sir. In 1977, to prevent redlining and make home loans available, President Carter signed the Community Reinvestment Act. This began the lowering of the requirements for purchasing a home. The Clinton Administration pushed for 30% of the loans to be so called sub prime loans with no down and reduced credit requirements. These loans and those properly vetted/backed were bundled into derivatives and sold similar to bonds to financial institutions. There were attempts to modify the program in congress during Bush's Administration but the attempts failed; who wanted to take a "right" of housing from those who could ill afford it. Someone/someplace must have asked what was in the derivatives and when it was known that they contained limited backed sub prime mortgages, the confidence in the derivatives collapsed as did the financial institutions that were heavily invested in them. Politically connected Goldman Sach was bailed out but Lehman Brothers, not so connected, was not. My retirement was heavily into Lehman Brothers bonds which became worthless when they went bankrupt. One half of my life savings/retirement was lost in this downturn.

    The good intensions of 1977 became the destruction of my retirement in 2008. And now I have been laid off from my oil field job in Canada. The money I saved there, because the Canadian dollar was falling, to later replenish my retirement funds has lost 25-27% of its value since the Canadian dollar follows the price of oil. At 72 it is a bit hard to recover from such a loss. But I know people who have lost every bit of their life savings.
    If Bush is to share in the blame, Clinton and the Democratically controlled Congress under him and Bush has a major portion of the blame.

    ReplyDelete
  4. "Obama says Obamacare more popular than Trump." Well, let's wait until 2018, o foolish ones. Hello Cadillac Tax. And Trump oughta say, The Democrats got you into this mess, let the Democrats get you out. And walk away. Make them own one of their fu-- ups. For once.

    ReplyDelete
  5. I am amused by the impatience of the press to grade his first 100 days as a failure.

    It's Saturday morning here, and I've been dipping into our local Murdoch broadsheet.

    This article may well interest you Don. 'The Australian' newspaper sent a reporter to Logan WV for a chat with the locals.

    The result is an excellent article and a nice window into how the ordinary people think.

    Donald Trump is working class hero to residents of coal country

    As a guy who lives in another coal town I do hope some of what you're having rubs off on us too. Sadly our local lot of politicians don't get it.



    ReplyDelete
    Replies
    1. Thanks. Last prez to impress Logan was JFK

      Delete
  6. Why do we still have Fannie Mae and Freddy Mac?
    It really grated me that Obama had the Oval Office temp raised to "orchid-growing" level while endorsing the chorus of climate change.

    ReplyDelete