I wonder if anyone else has noticed the change?
Last night President Obama gave his first State of Union speech.
I decided not watch this speech. Why? Better things to watch, like a DVD, or better yet, a hockey game.
Anyway, I thought he would give the usual hope and change speech that he presented on the campaign trail last fall. Well, I was amused this morning when read from the DrudgeReport a Yahoo story about the Wall Street reaction to his speech. Here is an excerpt:
NEW YORK (Reuters) – Stocks fell on Wednesday as investors found little new in a major speech by President Barack Obama on how he planned to stabilize the economy, while gloomy home sales data weighed on the market.
Long-standing worries about recession and the fate of the banking sector persisted despite Obama’s speech to Congress on Tuesday night, sending shares of financial services companies, big manufacturers and energy companies lower.
“The market was up 4 percent yesterday and I think that was probably a little excessive given the economic backdrop,” said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles.
“There was a little bit of an overshoot to the upside yesterday and we’re just giving some of that back early as President Obama didn’t have anything substantive to say last night.”
Go figure that someone would think that the President would not have anything substantive to say. Good thing I did not watch it. 🙂
However, we do have our usual MSM fawning at the AP as posted by Michelle Malkin here.
At Real Clear Politics, there seems to be discussion of the MSNBC host saying “oh God” before Governor Jindal response. What can you say about those guys at MSNBC? Exit question: Will the MSNBC host own or admit making this comment? Probably not.
But, Michelle offered some good points on regarding the conclusion of Governor Jindal’s speech. Read post here.
Another response to SOTU was the Republican Congressional Response as posted by Ed Morrissey.
With all these discussions and posts, I made the right call last night. There was nothing on TV last night.
Rush Limbaugh has written Mr. President, Keep the Airwaves Free today at Wall Street Journal Online. It addresses the issues around the potential re-implementation of Fairness Doctrine is some form. It is worth your time in reading it.
Two interesting points in his letter to the President. First, regard Mr Obama’s duty as President to uphold the Constitution :
As a former president of the Harvard Law Review and a professor at the University of Chicago Law School, you are more familiar than most with the purpose of the Bill of Rights: to protect the citizen from the possible excesses of the federal government. The First Amendment says, in part, that “Congress shall make no law abridging the freedom of speech, or of the press.” The government is explicitly prohibited from playing a role in refereeing among those who speak or seek to speak. We are, after all, dealing with political speech — which, as the Framers understood, cannot be left to the government to police.
Second, the history behind the ending of the Fairness Doctrine:
After the Federal Communications Commission abandoned the Fairness Doctrine in the mid-1980s, Congress passed legislation to reinstitute it. When President Reagan vetoed it, he declared that “This doctrine . . . requires Federal officials to supervise the editorial practices of broadcasters in an effort to ensure that they provide coverage of controversial issues and a reasonable opportunity for the airing of contrasting viewpoints of those issues. This type of content-based regulation by the Federal Government is . . . antagonistic to the freedom of expression guaranteed by the First Amendment. . . . History has shown that the dangers of an overly timid or biased press cannot be averted through bureaucratic regulation, but only through the freedom and competition that the First Amendment sought to guarantee.”
Although I do not support this “fairness” be re-applied, but if it is, it needs to be applied to all forms of media. There are certain media outlets that do not promote fairness on their stories. But, we all known this is unconstitutional. So, we should not waste all this hot air on this topic. Let us get back our focus on getting the economy back on track. 🙂
With all the uproar in the current political scene, this story should get you to laugh out loud. 🙂
An Indian walks into a cafe with a shotgun in one hand pulling a male buffalo with the other. He says to the waiter: ‘Want coffee.’
The waiter says, ‘Sure, Chief. Coming right up.’
He gets the Indian a tall mug of coffee. The Indian drinks the coffee down in one gulp, turns and blasts the buffalo with the shotgun, causing parts of the animal to splatter everywhere and then just walks out.
The next morning the Indian returns. He has his shot gun in one hand, pulling another male buffalo with the other. He walks up to the counter and says to the waiter, ‘Want coffee.’
The waiter says ‘Whoa, Tonto! We’re still cleaning up your mess from yesterday. What was all that about, anyway?’
The Indian smiles and proudly says ..
‘Training for position in United States Congress: Come in, drink coffee, shoot the bull, leave mess for others to clean up, disappear for rest of day.
Got to love Mary Katharine Ham. She has been a very busy gal. Returning from Isreal, and give us this treat of more political happenings. She posts in Don’t Go Linking My Heart more about the fall out from Obama’s Tuesday speech, Passport fiasco, and a Clinton event. Hmmm. This might explain the choice of video. Another classic video, Don’t Go Breaking My Heart by Sir Elton John and Kiki Dee.
Check her post out.
Update: 23 April 2008: New YouTube version of the song. Check it out here.