I was impressed with Bush’s presentation – well done; but I am not moved. He continues to polarize and aggitate. He continues to call anyone who disagrees with him a defeatist, isolationist (incorrectly), or a protectionist.
America is a great nation, but I think it should be more humble; and that includes refraining from saying things like ‘we are the envy of nations’.
He mentioned lots of new initiatives as well as the effects of previous ones. Again, I am not moved. Why he would mention the succes of the No Child Left Behind Act when he has continued to stifle it by not funding it adequately, I can only guess. He says that our economy is doing well… well, I am not a doomsdayer, but I think the jury is still out on that one. Hold off for a little longer Mr. President.
You see, while you mention GDP I think about higher interest rates and how that will affect spending (the engine of choice in our current economy) as well as how higher short term interest rates will affect the housing market in the long run. I am also deeply concerned about stagnant wage growth and the increasing gap between the rich and poor.
Instead of giving the nation a real state of the union address, he gave us a sugar coated pep talk. When I buy shares of stock in public companies, I listen to the quarterly conference calls made by the top level executives. I, as well as most other prudent investors, tend to respect and give credibility to those executives that highlight their mistakes and problem areas and how they will be addressed. Those executives that simply walk up to the podium and say, “everythings going great guys” deserve that much more scrutiny.
After all, didn’t Kenneth Lay and Jeffrey Skilling say that everything was ok?