President Obama gave a long, spirited speech that ended on a note of patriotic metaphor and exuded optimism. One thing he did not tackle in the list of things to get done this year, was campaign finance reform. He also avoided addressing the funding of health care, Medicare, or Social Security. He offered no plan to entice corporations to repatriate overseas earnings (that invested in the U.S. might grow companies and create jobs). Surprisingly, he wants to add two new initiatives that will expand government, with no mention of how and when we will retire our debt. The President's address sent out dozens of political roses.
There was an emphasis on fairness in taxation, another call for bipartisan cooperation to get legislation passed, assurances that our military will remain strong, and a call to shift incentives from oil producers toward clean energy projects. It was a comprehensive speech that reaffirmed our overseas alliances, spoke of strengthening education, reaffirmed a commitment to military strength, and suggested a limit on interest rates for students loans. The President even suggested that a new round of mortgage refinancing could be handled by the bailed banks who might want to rebuild trust in their reputations. He called for bringing overseas jobs and capital back to the U.S. and said he was opening more land to drilling. There was talk of fairness in personal income taxes. The President's delivery was upbeat as he sent out a clear message against future bail-outs. He spoke like a strong, seasoned campaigner, took credit for his accomplishments and rekindled the kind of positive message Americans love to hear: We can accomplish anything we set our minds to.
The rebuttal by Governor Daniels posited a contrary view of how well the economy is doing. His presentation was measured and well-prepared as he made it clear that much more needed to be done to encourage business growth. He, too, asked for cooperation from Congress. The governor made it clear that our social support programs will have to be adjusted if we want them to be available to those who need financial help in the future. Focusing on the high unemployment rate, he cited the unacceptable jobless data for young people under 30 and expressed concern over the struggling economy. Daniels was dignified in his manner, grounded by his own successful efforts to help Indiana attract new business.
