Monday, March 9, 2009

President’s apparent inability to grasp the impact of the market’s fall on ordinary people

Carol Platt Liebeau at Townhall.com wrote about how ill advised it is for the Obama administration to have an all consuming crisis like our economic problems but to fritter away energy and focus on reforming health care. As a nurse I have always known that when there is a big fire in a hospital, you don't spend any time rewriting policy and procedure manuals while you still have patients in harms way.
Here are a couple of quotes from her piece:

"What’s most remarkable is the President’s apparent inability to
grasp the impact of the market’s fall on ordinary people. Speaking last
week, he analogized the market’s fluctuations to a campaign tracking
poll – using, perhaps, the only frame of reference his limited
experience offers. But the analogy is a flawed one."

"Every time the market falls, real people lose real money – in their
retirement plans, in their 401(k)’s, in their children’s college funds.
More than half of American households are invested in the market
through direct ownership, pension plans, or retirement funds. And
that’s a world of difference between [that and] the daily ups-and-downs in a
candidate’s popularity"

ht/NewsBusters commenter motherbelt

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