The Second Obama Presidency

A window into Obama's second term actually happened just days before last fall’s general election when the President talked on the telephone with Des Moines Register [DMR] editors about their endorsement (October 25, 2012).

Obama didn't run on an overt second term agenda, and has not stressed details since the election; nevertheless, his main points in the interview were: 

• Continue growing “in-sourced” manufacturing jobs instead of losing them overseas
• In education he identified the need for improvement in STEM topics and more community college access
• The energy plan concentrated on alternative fuels, long-lasting batteries, and fuel efficient cars.
• Realistic immigration reform is now possible because the Republicans have scared all the Hispanics into the Democratic Party and finally there is enough political will to attempt this.
• Finally, he discussed deficit reduction through negotiating with the Republican House of Representatives in what he named the “Grand Bargain.” 

Editors brought him back to their number one issue which was economic growth. [Like the DMR editors, my perspective is that the other issues he discussed weren't common topics on the campaign trail; my concern therefore, on the precipice of his second term, is that they will distract from what needs to be done in the next few weeks].

During the interview, the President said corporate profits were at “record levels,” and big companies were “awash in cash.” [But why are corporations on the sidelines as far as spending for growth, and new hiring? Will the Obama administration consider the current oppressive regulatory environment or how businesses fear the upcoming Obama-care mandates?]

In October, what was said to be the “grand bargain,” which was $2.50 worth of budget cuts for every dollar in spending on programs, was essentially achieved during the fiscal cliff deal; however many of the Simpson-Bowles targets weren't met. [How serious is the President about either controlling spending, or negotiating with Congress? The immediate major hurdle for the his new administration: the fight over raising the debt ceiling].

The President says this fight is not about new spending; instead, raising the debt ceiling is necessary so the US Government can “pay our bills.” In his press conference today he did not sound like a man ready to negotiate. I ran across a well-written letter this weekend; if only the President read his mail:

©Mark H. Pillsbury