It’s The Policy, Stupid

The White House is already breathlessly spinning the president’s speech tonight as being Reaganesque, as if declaring these (as yet unspoken) words will rally the American people. Sayeth the sage Gibbs:

“He will,” Gibbs said, “tell the country that we’ve faced … greater challenges than the ones we face now, but we as Americans always meet those challenges. But in the Reaganesque words, there are always better days ahead.”

After weeks of a non stop message of FEAR the Obama administration apparently thinks a pep talk is in order. Note to the White House: it’s the policy, stupid. Markets have taken note of the inflationary spending bill, the doomed mortgage bailout scheme, the sunset of the Bush tax breaks, the promise of a tax increase on the wealthy (that means you small business) and the obvious lack of a plan to deal with the banking crisis and voted with their feet.

The country and the economy don’t need another speech. We need better policy. President Obama is permanently stuck in campaign mode, and as DJ notes below, believes everyone still buys his pitch. It is manisfestly apparent that President Obama believes he can talk his way out of this bad economy and policy debacle. Smart people are betting otherwise.

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