In The Long Run

In the long run we are all... another day older and deeper in debt?  Obama pleads for patience and a longer perspective in a chat with Terry Moran of ABC News:

MORAN: Can you say how much, ballpark figure, that will cost the American taxpayer? A trillion, a trillion-five, two trillion?

OBAMA: I can't say the ballpark figure. What I can say is --

MORAN: Why not?

OBAMA: Well, because ultimately, what happens is going to depend on how the markets respond over the long term, not today or the next day but a month from now or two months from now.

Two months is the long term in evaluating our financial system?  I embrace the Faster Failure thesis.  Or something.

MORE:  Bloomberg coverage of the interview.

[THE LONG RUN TO THE END]

Comments

[matt]

Regime Change now!

[matt]

AP is reporting that Sen. Thad Cochran's office is being investigated...So we have Feinberg and her self dealing, Pelosi and her self dealing, Boxer and her self dealing, Rangel, Dodd, et al...but AP reports on the Republican...how interesting....

[kim]

Now does he really believe that the financial markets reacted negatively because they wanted a 'quick and painless' solution or is he just FOS.

I've a new career. Trying to figure out whether what Obama says is a deliberate lie or an ignorant lie.
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[Jane]

It's amazing how much time Obama can take to say nothing.

[Old Lurker]

"It's amazing how much time Obama can take to say nothing."

Called "filibuster", Jane.

[narciso]

So in the most transparent administration since Ulysses Grant, yet another ethical hickups involving Larry Summers, who otherwise is one of the good guys, in this
sad little crew.

[bad]

Obama, at the end of the Bloomberg article:

“I’m constantly trying to thread the needle between sounding alarmist but also letting the American people know the circumstances that we’re in,” he said.

No wonder the emperor has no clothes. The needle has no thread.

[Porchlight]

Thanks for getting that Eagles song in my head, TM.

[bgates]

Kim, those aren't mutually exclusive. He could know he's not telling the truth, without knowing what the truth is.

[Jane]

It's an amazing juxtaposition - Obama demands an 800 page bill is passed without hearings or even a reading, and then says be patient for the results.

[kim]

bgates, I think you've got it. The lyin' on explinin' rains plainly on his reign.
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[RichatUF]

matt-

Only Republicans can be guilty of corruption. Democrats' dealings are for the greater good...and for the children.

[Chris]

No clue. What could possibly go wrong?

[Mustang0302]

Thanks for getting that Eagles song in my head, TM.

I skipped right past the Eagles to Tennessee Ernie Ford:

You load sixteen tons, and what do you get?
Another day older and deeper in debt.
Saint Peter, don't you call me, 'cause I can't go;
I owe my soul to the [bailout plan]...

[JM Hanes]

...owe my soul to the Bailout B.O. ?

[matt]

By the way, wasn't Fitzgerald supposed to make his case against Blagojevich this week?

[Porchlight]

Good one, Mustang. The tune to "another day older and deeper in debt" was knocking at the door of my memory, but I hadn't drunk enough coffee at that point.

The bailout plan really gives "company store" a new meaning, doesn't it?

[Mustang0302]

No, porch, really...I didn't cotton onto the Eagles reference. Blew right past me. Good on you.

Bailout/stimulus/porkfest/buying off a demmajority...I sure as hell ain't working for no company store.

Maybe if more folks understood what a company store was, we could peel off enough disillusioned BHO-bots to sink this turd. We'll never get to the Julios.

It sure looks like some are disillusioned by the wholesale adoption of GWB's detainee policies.

These idiots bought a pig in a poke.

Of course, we already knew it was a pig by the smell.

[Mustang0302]

Mean old skinny cat, of course...not a pig.

[Mustang0302]

That's what I get for trying to juggle idioms.

TM's the master of idiom juggling/sly pop-culture references.

Thanks for keeping us on our toes, TM.

[PeterUK]

"what happens is going to depend on how the markets respond over the long term, not today or the next day but a month from now or two months".

Two months is "long term"? Imagine what one could do in a year,compose a symphony,at least Obama could put the "phony2 into that,climb the Himalayas,write a novel,learn to tap dance,become world snooker champion and still be home for supper.

[Boatbuilder]

Was that the Eagles or J.M. Keynes?