Chapter 80.9: Back to the Future, Forward to the Past

Every now and then, I actually poke around through the emailed newsletter I receive from the Council on Foreign Relations. Given the significant transition we are facing as a nation, I found the latest issue particularly interesting. In it is a link to an essay written by Dean Rusk, then a trustee with the Rockefeller Foundation and in less than a year of this essay being published, the U.S. Secretary of State.

In the essay, which is very long, he makes prescient observations on the status of the United States at that time and where he envisioned it going. But I was caught also by one of his simplist observations: "To the rest of the world [the president] embodies the dignity and sovereignty of the Federal Union and has much to do with the image of America projected beyond our borders. He leads our solemn observances and sets the tone of our national life. Whether we move with zest and confidence in our public and private affairs or plod along in apathy or bewilderment turns in large part upon the morale which flows from the White House."

In light of what America has seen over the past 28 years (i.e. since President Reagan), Rusk's words should be instructive for president-elect Obama. One of the things I like about Obama is how smart he is and that he is able to use that intelligence to convey confidence. I don't doubt that Sen. McCain is intelligent and I honestly don't doubt that President Bush is intelligent, though I think his arrogance and that of Vice President Cheney have brought shame to the United States that will take years to wash clean. But neither Bush nor McCain — and not even President Clinton when he was so embattled — left me feeling confident.

We need President Obama to continue to instill confidence in Americans of all stripes if we are to succeed during what promises to be one of the most challenging economic periods of our history. Right now, Web sites are filled with speculation about what an Obama presidency will mean for investors, what it will mean for health care, even what it means for Sen. Joe Lieberman. I'm sure some of the points noted in these pieces are accurate, and I'm sure that some will prove to be wrong or misguided. The facts will play out and like the Roshomon effect, will depend on perspective in order to convey a semblance of truth.

Perspective is important to a leader. What Americans need now is to believe in the power of that office for good once again. After eight years of President Bush's ideologically driven decisions that left half the nation unguarded and President Clinton's self-centered dalliances that sullied the office, I hope that President Obama can restore confidence in America's place in the world, in our leadership, and in our goodness.

It is a lot to ask of any leader — probably too much. And I'm sure there'll be times when he fails; he's human. But damn, we need a leader now.

Chapter 79.3: Mind Boggling Collapse

We are living through an incredible moment. The utter collapse of U.S. financial markets is like something out of a futuristic tale of apocalypse, except it's happening now, in real time, with real damage.

The Bush administration probably will go down as the worst in U.S. history because of the myriad debacles — financial, military, political, legal — that occurred on its watch. To be sure, not everything has been President Bush's fault; too much has happened to blame it all on one person. But then again, not everything was Herbert Hoover's fault either. That doesn't mean we have warm, fuzzy feelings for him or his term in office.

Looking back at Hoover's Wikipedia entry, I'm a little concerned that he was also considered a progressive and a reformer. In this election, we have a purported progressive (Obama) and reformer (McCain) and the election is looking razor thin. (What is it about extremely close elections in this century?)

To a financial know-nothing like myself (just because I can do math doesn't mean I'm up on economic theory), it appears that the rich were trying to get richer on risky investments and when many of those investments failed, they weren't able to make good on their outlay of cash. They were over-extended. Much like the American populace.

Let's face it, this world lives on credit. It's not just in America — all over the world. Hell, I think they extend credit on Antarctica! And if a bank were to say, "I know we gave you a 30-year fixed mortgage, but we need our money now," (which probably isn't legal, so I'm not too worried about it happening to me) there's no way I could pay it without having to borrow money from someone else for less favorable terms. I think that's, in a sense, what has been happening on Wall Street.

This could well be the beginning of our Great Depression. If, as some speculate, we are experiencing the end of the "American empire," then we should probably pay close attention to what's going on. Our next major decisions — like who we choose to be president for the next four years — are exceedingly important for today and for our children tomorrow.

Chapter 63.45: Funny Meeting You Here

I find this interesting. Apparently, one of the lawyers for Marc Rich, whom President Clinton pardoned (controversially) on his final day in office, used to be represented (from 1985 to 2000) by a lawyer named Libby. Yes, Scooter Libby -- the same man whose sentence was just commuted by President Bush. Funny how things move around Washington, D.C.

Chapter 63.4: Albatross!

So, President Bush has commuted the sentence of Scooter Libby. I think that tells us that the president knows he has limited power and is in his lame duck period. And this will be one more nail in President Bush's legacy coffin.

The president's decision was praised by conservatives for his decision, and vilified by Democrats. But I'd like to know what other Republicans say about this. What's Arlen Specter's opinion in this matter? He's the former chair of the senate judicial committee, what does he think? I've not read enough stories to determine whether he's been interviewed, but he certainly wasn't the first of the Republicans to advance an opinion.

The president has another albatross around his neck. It's not as big as Iraq or Katrina, but in some ways it's a worse thing to be remembered for; it could be argued that he flouted judicial authority, thumbed his nose at the system. Does he even care anymore?

Chapter 59.4: Increasingly Jaded

The more I hear and read about what our current administration is doing -- whether it's the Justice Department problems, the state of the war in Iraq and our inability to quell the Taliban in Afghanistan, or the Katrina response in '05 -- I find myself wondering whether this country will ever recover from the debacle of George W. Bush's presidency. I remember being concerned about the state of the world's affairs during the Reagan era, and I still consider President Reagan the Father of Modern Homelessness, but somehow this period is more frightening.

But what is worse is I haven't seen anyone else step up and demonstrate the capacity to remedy things. I have no faith in Rudy Giuliani or John McCain, I don't believe Barack Obama has the experience to lead our nation yet. And while Hillary Clinton has many of the qualifications, I'm not convinced she can lead us through what may be one of the darkest periods of our nation's history. John Edwards, who I believe has many fine qualities, also is faced with difficult family issues. I know I'd be distracted if, God forbid, something potentially fatal befell my wife.

America may be on the verge of a new series of mediocre presidents who serve one term and are barely remembered for any lasting, positive achievements 20 to 25 years later. And some may be vilified, cast into political perdition like Nixon or Hoover.

The greed of corporate America and the willingness of sycophantic middle class investors to jump on the same bandwagon in the name of seeing their portfolio improve are well on the way to destroying the American Dream. Pensions will evaporate, and several million Baby Boomers will find themselves destitute, clamoring for help from their friends and neighbors, from the government, from the charities they supported when they still had jobs. And it won't be enough.
Having learned of the actions of the current administration -- the phone tapping of American citizens, the blind eye to torture in prisons we control, the disregard for human rights of "enemy combatants" -- and watched the smug attitude toward the middle class and the poor (some of whom may actually have voted for the current administration), I find myself increasingly jaded.

What we need as a nation is a rebirth -- a sense of renewal and freshness, like after a strong spring rain. Instead, it remains cold, wintry, with little hope in sight for a healthy future. Is this the darkness before the dawn?

Chapter 58.8: Set Up?

The following is complete speculation: I can't help but wonder whether the flap about Sen. Webb's assistant being caught carrying a concealed weapon -- reportedly for the senator -- stems from someone setting Webb up. It just sounds like the old tactics of hitting a political rival; remember that Webb offered the Democrats' response to President Bush's State of the Union and was generally regarded as offering an excellent counter to the call for seemingly endless funding of the unpopular war. It's been three months, which is usually more than enough shelf life for U.S. political stories in the minds of most Americans. Somehow, I don't think this is a simple whoops.

Chapter 55.7: The State of the Senator

Boy, my first impression of Sen. Jim Webb (D-Va.) is that he's a no-nonsense populist. I like that. He's got an impressive speech writer, too.

Webb included the gngoing need to assist the hurricane-ravaged Gulf Coast, which President Bush never referenced in this year's State of the Union. And talk about credentials for discussing the situation with the war! Webb's family history and pride in military service can never be disputed. From what I understand, during his senatorial campaign Webb often mentioned the Andrew Jackson quote about focusing on the state of the base rather than the state of the wealthy. And I appreciated the math on how it takes the average worker more than an entire year to earn what the high-paid corporate CEOs make in one day.

I don't know whether the Eisenhower and Teddy Roosevelt references were usual campaign pitches or not, but I thought they were quite impressive ways of saying "other Republican presidents have been able to lead the country. What's wrong with you, Mr. President?"

But my personal litmus test for the effectiveness of Sen. Webb's speech: My wife stopped and took notice. She's not political and cleaves to no party. For her to listen to what this man was saying means that other people will too. I didn't realize a response speech could be so impressive. I expect great things of him.

Chapter 54.9: One Uninformed Person's View

I've never served in an armed service, nor have I studied anything significant about battle strategy or how armed conflict affects political realities. However, no moderately informed American is totally clueless about what the media and our elected officials of all stripes have been saying about what's going on over there.

Last night, President Bush officially announced his decision to increase the number of troops in Iraq by 21,500 -- mostly in Baghdad. And many people are criticizing the decision saying that it won't improve the situation. I wonder, however, whether it means that we need those additional troops just to stay put -- to not cede territory or strategic positions -- and that it reflects the realization that the American public wouldn't countenance a large-scale escalation of troops. My question is whether these are the right troops. As a taxpayer, I'd rather pay more for more-effective deployments -- perhaps better spies or infiltrators into the most dangerous insurgencies -- that will achieve our goals.

The president said that 2007 will be bloody, suggesting (at least to me) that it might be even bloodier than 2006 was. He's probably right. I just hope we're safer at home as a result. I don't know that we are.

Chapter 50.9: Duck Season

Bruce Reed posted an interesting piece in Slate, where he discusses President Bush's lame duck status. He concludes that the president should learn from what the "Governator" learned in California: be more Democratic. While many would scoff at the notion of President Bush acting like a Democrat, perhaps they've forgotten that pre-9/11 many of his initiatives had that tone to them, including the Office of Faith-Based Initiatives. Most of those efforts were not only derided by the conservatives he rode into Washington on, they were also back-burnered after the nation went to war.