You are currently browsing the daily archive for March 21, 2009.

It seems Bloomberg made himself heard during “Postpartisan day”.

New York Times reports that Obama is

Uneasy About Tax on Bonuses

It seems

The White House stopped short on Friday of endorsing legislation to severely tax bonuses paid to executives of companies that accepted taxpayer bailout funds.

It seems Wall Street is none to pleased with the taxing of their loot

Wall Street firms reacted angrily to the tax proposals, with several saying they would explore ways to end their participation in the bailout program.

Therefore, here comes Backtrack Obama:

Mr. Obama, who initially said he welcomed the effort by Congress to tax bonuses, is now taking a more measured approach. The White House press secretary, Robert Gibbs, said the administration would have to consider the impact of the legislation on its wider efforts to prop up banks and increase the flow of consumer credit to families and small businesses.

Which is funny, because, at least with the House, he will now go against…bipartisanship:

Nearly half of House Republicans joined most Democrats in favor of the tax on bonuses, which was approved by a vote of 328 to 93.

So, will he veto the tax on bonuses? Or just get the senate to bog it down?

But, hey, he can afford that politically. Politico reports that no matter how he kicks liberal groups around, they stick around

The liberal interests that spent much of the 1990s clashing with President Bill Clinton and with one another have formed an unprecedented alliance, spanning labor unions and environmental groups, behind President Obama’s agenda. Shrugging off symbolic slights—early talk of bipartisanship, days spent grinning and gripping with Republican governors—liberal groups find themselves on the verge of achieving top goals after years or decades, including national role in health care, new regulation of greenhouse gases, expanded access to abortion, and a vast new round of government spending across the board.

Must be nice to be the king!


More details on the maneuvering for Wall Street

Appearing that evening on the “Tonight Show with Jay Leno,” Obama responded to a question from the comedian on the House bill by further distancing himself from it. “I understand Congress’ frustrations,” he said. “They’re responding to, I think, everybody’s anger. But I think the best way to handle this is to make sure that you close the door before the horse gets out of the barn.”

This statement sums up the hypocrisy of the administration as well as Congress. Obama, both before and after assuming office, intervened to prevent the door from being closed to AIG and other financial firms—including Merrill Lynch, Fannie Mae and Freddie Mac—that used taxpayer money to award lavish bonuses.


He sought to discredit public anger as “finger-pointing,” declaring that he was seeking to “break a pattern in Washington where everybody’s always looking for someone to blame.”

WSJ writes that

administration officials “are looking for ways to blunt the bill’s impact if it becomes law…”

Not Your Sweetie

March 2009