I have to admit that I enjoyed the speech last night. Obama I thought had a good message and some good ideas for the economy.
He did however contradict himself by calling for more domestic spending and then calling for a five year freeze on domestic spending. I agree that if the government is going to spend money that infrastructure is the place to spend it, roads, water treatment, electric grid and so forth. This could create long term jobs and help stabilize our economy. I would hate for him to spend a bunch of money on green energy as it is unproven and the cost benefit is not there yet. Focus on spending that creates results.
I was more than happy to hear him admit that the single biggest drivers of our deficit are medicaid and medicare. That's right he did not say DEFENSE spending. While we need to reign in defense spending the need to reign in medicaid and medicare far out way anything else.
Some of the fact check organizations have finally come out and called Obama on the carpet on the claim that the health care bill will lower the deficit and budget. The CBO makes its determination based on the assumptions the democrats have written onto the bill, not based on what will actually happen. So the CBO is being honest in its assessment but it fails to bring in outside circumstances.
I did not like that he keeps wanting to punish the rich but I did like the notion of eliminating subsidies for the oil companies.