Prepping for Obama's Address Tonight

President Obama is addressing Congress tonight, his first appearance before both houses as POTUS.  Key items include his proposed budget, including a pledge to halve the national deficit by 2013, in large part by letting Bush's tax cuts expire and by winding down our occupation of Iraq.  He also plans to outline his domestic priorities, which include healthcare reform and investments in alternative energy (sun, wind, biofuels, etc.).  I'm curious to hear if - but hopefully how - he addresses our widespread economic inequality and rising poverty and economic insecurity.  Let's take a look at the major economic issues on the table at the moment.

Obama and his recent economic plans have very high approval ratings, and not just from registered Dems: "67 percent of independents approve of Obama's performance...[and] 64 percent of those polled back the economic recovery package, and the same percentage support the mortgage proposal...seven in 10 independents said Obama is living up to the central promise of his campaign: bringing change to Washington." Congress, and especially Congressional Republicans, have much lower approval ratings and are faulted with being obstructive and partisan.

Where American also support evaporates is for the auto industry bailout: "on resistance to new loans to the automakers, Republicans (79 percent of whom oppose the new monies) are not alone; 61 percent of Democrats and 68 percent of independents are also opposed."  CNBC Financial commentator Barry Ritholtz is puzzled by this opposition.  Remember GM and Chrysler are asking for $21.6B, a fraction of bailout funds in consideration for insolvent banks and financial firms.  He describes the comparative suggestion to "spend 10X the market cap of Citigroup for a 40% stake in the apparently insolvent firm" as "utterly absurd."  Ritholtz chalks it up to anti-union ideology and thinks the banks and autos - the lot of 'em - ought to begin bankruptcy proceedings.  Jalopnik helpfully maps all American manufacturing plants nationwide to demonstrate the impact from San Fran through Texas up to the NY-Canada border of the possible "carpocalypse."

I try to let Tim cover our efforts towards healthcare reform, so I'll just say I'm curious if Obama singles out veterans' care in his discussion of domestic priorities tonight.  We may be turning away from Iraq, but we're turning (back) towards Afghanistan, and our military remains stretched and continues to fail on its obligations to returning servicemen and women. Military suicide rates are at record highs.  Shannon reports that 25% of homeless women and men are vets - a recent profile of one veteran sleeping in the rain is heartbreaking.  Veterans' care is a priority for First Lady Michelle Obama, and LA Governor Bobby Jindal who is giving the GOP response to Obama's speech, is behind the poorly planned and dubious VA expansion in New Orleans.

About Governor Jindal...he's one of the Southern GOP governors pledging to turn down stimulus money - a whopping 1-2% of it.  Bold move, Bobby.  The money he refuses?  That to expand unemployment benefits, because he doesn't want to raise corporate taxes.  LA is such a terrific place to do business, with some of the highest rates of poverty, lack of education, poor health and pollution in the country.  Gov. Jindal is trying to reform the healthcare system there, following in the footsteps of Florida, but critics claim the state doesn't have the infrastructure to create the managed care system he wants and call it "a step in the wrong direction."  This is the Administration that had its Secretary of Social Services resign over the handling of Hurricane Gustav, which included warehousing poor Louisianans in shuttered facilities with no showers and not enough bathrooms while wealthier residents were sent to privately run, fully stocked Red Cross shelters.  Color me skeptical that this GOP spokesperson represents anything innovative, equitable and promising for the more vulnerable among us.  They will say a prayer for you though.

(Photo by Rusty Darbonne)