Following the release of Bob Woodward's book Plan of Attack (and during the worst months of the War in Iraq) the media gleefully seized on a remark used by Colin Powell to warn President Bush about the ultimate consequences of the invasion's failure:
'You are going to be the proud owner of 25 million people,' he told the president. 'You will own all their hopes, aspirations, and problems. You'll own it all.' Privately, Powell and Deputy Secretary of State Richard Armitage called this the Pottery Barn rule: You break it, you own it.'
This snappy riposte has disappeared from the discussion of that war in the wake of General Petreus' successful surge strategy. However, I think it's time to bring the phrase back as a useful term to describe both the responsibility and consequences that should attach to the Obama administration's handling of the economy.
Last 4th of July weekend Vice President Biden told ABC's George Stephanopoulos:
"The truth is, we and everyone else misread the economy," Biden told me during our exclusive "This Week" interview in Iraq.Biden acknowledged administration officials were too optimistic earlier this year when they predicted the unemployment rate would peak at 8 percent as part of their effort to sell the stimulus package.
Too optimistic? And who is this "everyone else [who] misread the economy"? It's an important question because this is what Biden told Stephanopoulos last December 19, 2008:
Vice President-Elect Joe Biden said the U.S. economy is in danger of "absolutely tanking" and will need a second stimulus package in the $600-billion to $700-billion range."The economy is in much worse shape than we thought it was in," Biden told me during an exclusive interview -- his first since becoming vice president-elect-- to air this Sunday on "This Week with George Stephanopoulos."
As Jennifer Rubin notes, there are two problems at work here:
...But worse than the policy problem [failed stimulus] is the credibility problem. As both Herbert and Boehner point out, the administration has resorted to lying. It is not that the president and his advisors failed to comprehend the magnitude of the economic crisis. It is that they got the solution wrong, and now they refuse to admit the mistake. It may not be long before the Washington press corps start hounding Obama, as they did George W. Bush, to admit "error."
It's obvious by Biden's own words above that the Obama administartion knew exactly how bad the problem was in 2008. They simply prescribed the wrong solution and voters now know it. Vice President Biden is simply betting no one remembers what he said six months ago. It is our pleasure to remind the Vice President and his boss that they too must abide by pottery barn rules: They broke the economy and now they own it.
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Filed under:
Barack Obama
Tags: Economy, Stimulus, Unemployment
Comments (13)
It may not be long... (Below threshold)1. Posted by Stan25 | July 13, 2009 8:19 PM | Score: 11 (11 votes cast)
Wishful thinking on the writer's part. The media as a whole -- to quote Chris Matthews -- get that tingly feeling down their legs, every time he speaks and will not write anything to denigrate that feeling.
There are still some that think that Bush/Cheney are the culprits of the bad economy and there is no way that thinking will change. Herbert Hoover anyone?
1. Posted by Stan25 | July 13, 2009 8:19 PM |
Score: 11 (11 votes cast)
Posted on July 13, 2009 20:19
2. Posted by GarandFan | July 13, 2009 8:59 PM | Score: 9 (9 votes cast)
No, no, no, Hugh. Wrong again! You imply that Barry and Joey are RESPONSIBLE. That word is not in the socialist dictionary. If anything, Barry and Joey are VICTIMS. There was a vast right wing conspiracy to sabotage their efforts. Look how much of that stimulus money went to Democratic strongholds. How much went to Democratic 'pet' projects. How much went to labor unions that support Democratic candidates ........er....a.....ah.....h.....
2. Posted by GarandFan | July 13, 2009 8:59 PM |
Score: 9 (9 votes cast)
Posted on July 13, 2009 20:59
3. Posted by Hrothgar | July 13, 2009 9:02 PM | Score: 7 (7 votes cast)
Right on the money GarandFan. Responsibility and Accountability are passive words in the liberal dictionary, and thus don't really mean anything when one tries to apply them to the 0. The repubs didn't vote for this, so obviously it is all their fault (and probably Rove and Cheney had something to do with it as well)).
3. Posted by Hrothgar | July 13, 2009 9:02 PM |
Score: 7 (7 votes cast)
Posted on July 13, 2009 21:02
4. Posted by 914 | July 13, 2009 9:24 PM | Score: 7 (9 votes cast)
In other words Biddin and Oragama are going to pilfer the treasury for personal gain yet again while simultaneously indebting future generations to pay back the promisorry notes.
Oh the game of Life is so fun.
4. Posted by 914 | July 13, 2009 9:24 PM |
Score: 7 (9 votes cast)
Posted on July 13, 2009 21:24
5. Posted by Justrand
| July 13, 2009 9:25 PM | Score: 8 (8 votes cast)
that's what I get for showing up late to a thread! GarandFan did indeed nail it shut!
Barry and Slo Joe are victims...and the only things standing between us and further economic calamity! [even as I typed that I realized that Chris Mathews might read it and need a cold shower!]
5. Posted by Justrand
| July 13, 2009 9:25 PM |
Score: 8 (8 votes cast)
Posted on July 13, 2009 21:25
6. Posted by Hermie | July 13, 2009 10:43 PM | Score: 6 (6 votes cast)
The state-run media will do whatever they can to either remove or minimize, any mention of Obama and Biden's past statements.
No matter what happens, Obama will claim 'I've always said...' and the media will lap it up.
6. Posted by Hermie | July 13, 2009 10:43 PM |
Score: 6 (6 votes cast)
Posted on July 13, 2009 22:43
7. Posted by Trajan | July 13, 2009 11:38 PM | Score: 4 (4 votes cast)
"As I have said, this won't be easy ... "
As Obama leaves the stage. Michelle, Chris
Matthews, Brian Williams sit in the rear of
an empty auditorium, clapping as only hard-
line liberals could. And telling an already
skeptical world on the morrow what a historic presidency this was.
7. Posted by Trajan | July 13, 2009 11:38 PM |
Score: 4 (4 votes cast)
Posted on July 13, 2009 23:38
8. Posted by Tim | July 14, 2009 8:16 AM | Score: 2 (2 votes cast)
You'll note that Biden told his differing versions of history to the same person. If Steffy isn't going to call him on it, why should we think the rest of the media will be any different?
8. Posted by Tim | July 14, 2009 8:16 AM |
Score: 2 (2 votes cast)
Posted on July 14, 2009 08:16
9. Posted by jim2 | July 14, 2009 9:15 AM | Score: 3 (3 votes cast)
There is no chance that the MSM will go after Obama. They have invested everything in him. Also, Obama and Rahm have brought the MSM to heel every time they thought to detect a flicker off message.
The MSM will blame stuff on Bush, ask for Bush investigations, bloviate on Pallin, pontificate on Romney's religion, chorus Obama's line that it would have been worse, etc.
IOW, the MSM will do everything necessary to ignore Toto's pulling aside the green curtain, even to the point of kicking the dog out the door and putting back the curtain themselves.
Welcome to 21st Century Oz.
9. Posted by jim2 | July 14, 2009 9:15 AM |
Score: 3 (3 votes cast)
Posted on July 14, 2009 09:15
10. Posted by Steve Crickmore | July 14, 2009 9:26 AM | Score: -5 (5 votes cast)
And what should the Obama /Biden administration have done HughS? I'm sure I can guess ..In addition, to continuing the Bush government bailout, TARP, your solution, in January, 2009 to the financial meltdown was not financial restructuring or a strong or even weak stimulus program but wait for it... tax cuts for everyone..especially the wealthy.
Though, Obama got his stimulus program passed, it doesn't appear to have been sufficent enough because of resistance from Wall Street to real reforms...Instead we have had a few meaningless cosmetic reforms that have given conservatives the vapors. And..
10. Posted by Steve Crickmore | July 14, 2009 9:26 AM |
Score: -5 (5 votes cast)
Posted on July 14, 2009 09:26
11. Posted by HughS | July 14, 2009 9:56 AM | Score: 5 (5 votes cast)
Though, Obama got his stimulus program passed, it doesn't appear to have been sufficent enough because of resistance from Wall Street to real reforms
That is ludicrous, Steve. Bring a serious argument or move on.
11. Posted by HughS | July 14, 2009 9:56 AM |
Score: 5 (5 votes cast)
Posted on July 14, 2009 09:56
12. Posted by WildWillie | July 14, 2009 11:51 AM | Score: 0 (2 votes cast)
Obama put together a team of players favoring one financial institution over others. It was corrupted from the beginning with Obama's picks. ww
12. Posted by WildWillie | July 14, 2009 11:51 AM |
Score: 0 (2 votes cast)
Posted on July 14, 2009 11:51
13. Posted by BlueNight | July 14, 2009 10:28 PM | Score: 0 (0 votes cast)
It's almost as if Obama is secretly a radical Communist who is trying to crash the American economy so a populist revolution can set up a Communist dictatorship in its place.
But this is real life, and that sort of thing doesn't happen here...
13. Posted by BlueNight | July 14, 2009 10:28 PM |
Score: 0 (0 votes cast)
Posted on July 14, 2009 22:28