Thursday, November 06, 2008

Obama's Real Opposition

This is going to be interesting.
Obama's Real Opposition - WSJ.com
Now that Barack Obama has vanquished John McCain, he faces a much greater foe: Democrats on Capitol Hill. They've humbled the last two Democratic Presidents -- and with their enhanced majorities next year, they'll be out to do it again...

David Obey. The Appropriations Chairman wants to slash defense spending as a money grab for more social programs and entitlements. Fellow spender Barney Frank recently added that a military budget cut of 25% was about right. A military crash diet wouldn't leave the funds for the surge in Afghanistan that Mr. Obama advocates, and it's a sure way to hand the national security issue back to the GOP.

Chuck Schumer. The Senate Democrat and his friends are already threatening banks if they don't lend more money instantly under the Troubled Asset Relief Program. Other political masters want to use Tarp to nationalize large swaths of U.S. industry such as the Detroit auto makers or to bail out states like New York that are in debt. If Mr. Obama doesn't want to have to pass a Tarp II, he'll have to say no.

George Miller. Some Democrats are starting to target the tax subsidies for 401(k)s and other private retirement options. Mr. Miller, who heads the House Education and Labor Committee, calls them "a big failure" and recently held a hearing to ponder alternatives, including nationalizing pensions and replacing them with special bonds administered by Social Security. The proposal has also caught the eye of Jim McDermott, who chairs the relevant Ways and Means subcommittee. Mr. Obama won big with his promise of tax cuts for the middle class, which doesn't square with attacks on middle-class nest eggs.

1 comment:

Ray in AZ said...

I agree - President Obama is going to find that his biggest issues will be with Dems.

If President Obama is indeed going to lead the US - that is all of its people - he'll find most of his support coming from the other side of the aisle and from those like Sen. Liebermann who are truly Independent.

Some are talking about the demise of the GOP, like others have in the recent past who talked about the demise of the Dems. I think this election points to the demise of them both. What/who is going to replace them is all that is yet to be determined.