State of the Union II

The President:

My first reaction is that the speech did not represent our "Sputnik Moment". 

The President failed to show an understanding of the poor financial condition of the country or relate a coherent plan to address it.  He seemed to indicate that we had plenty of time to grow our way out of the problem by freezing a small part of the federal budget, and continuing to provide targeted stimulus or incentives from government.  I can see no reason to accept this view of "the state of the union", as the FED continues to keep us at near zero interest rates to prop up our economy.

Items like the total reorganization of the government is simply not believable to me. 

His pledge to veto any bill with "earmarks" was the best part from my point of view.  (Why was VP Biden laughing following this pledge?)

The applause and facial expressions seemed to indicate little belief in what the President was saying by either party.

The Republican Response by Rep Paul Ryan:

All I got out of this was that "spending cuts must come first", and "limited government and free enterprise" made our country great.  I have not seen any Republicans really limit government in recent years.  I did not see any value in listening to this instant "response".  Perhaps they should respond with actions rather than words.

The TEA Party Caucus - Rep Michele Bachmann:

My heart is with the TEA Party Caucus, but I don't think Ms. Bachmann listened to the President's speech, as she missed that the President agreed to medical tort reform and health care portability that she was criticizing.  She spent a lot of time talking about the past.  Her punch list of things the President could do were valid, but a better thought out response, would have been of more persuasive. 

Sorry to be so negative on the whole process tonight.  I am always looking for great leadership to show up.  Unfortunately none showed up tonight! -

JOHN

BOYDSTRATEGY.COM

If you would like John or Rosemarie Boyd to speak to your group or organization on financial planning or investment strategies contact Rosemarie at rboyd@boydstrategy.com or call her at 508-754-3226. The comments on this blog do not represent individual Investment, Tax or Legal Advice, and do not represent an offer to buy or sell any security. Consult the appropriate professional before acting on any idea seen here.