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The President would not approve, Nancy.

Hecklers disrupt Nancy Pelosi speech

Ah Nancy.  This is not in keeping with what President Obama said to those graduating seniors in my hometown yesterday.  Barry looked into the eyes of those young adults at Kalamazoo Central High School in Michigan, and told them,

Don’t make excuses. Take responsibility not just for your successes, but for your failures as well.

Today, while speaking to a crowd of progressives, Ms. Pelosi spent the majority of times blaming others for her failures.

“President Obama and the Democratic Caucus have saved this country from a financial crisis created under the Bush administration,” she said.

I beg to differ.  First of all, when it comes to any of the questionable legislation of the past three years (and there’s been a lot), only TARP has ever been argued to have “rescued the country from a financial crisis.”  While I don’t necessarily agree, since TARP didn’t even do what it was passed to do, many economists believe it helped to some unquantifiable extent.  Bush signed TARP into law, so President Obama had nothing to do with it.

More importantly, it’s difficult to argue that President Obama and the Congressional Democrats have rescued this country from a financial crisis.  Instead, the legislation passed by Barry and Nancy, such as the stimulus, have only increased the deficit, while unemployment went on to exceed 10%.

She blamed Republicans for deregulating big oil, assuring the receptive crowd that BP would be held accountable for its handling of the oil spill in the Gulf of Mexico.

What deregulation?  I keep hearing that George Bush and Republicans deregulated the oil industry and because of said deregulation, we have the BP spill.  What I never hear is what deregulation was ever actually passed.  What I do hear a a lot about is along the lines of “America doesn’t require BP to use this certain piece of technology that country X does.”  O.k., but that’s not deregulation.  “Deregulation” means taking away regulations that used to exist.  Congress does that, and they haven’t done it lately.  Have government regulators failed to do their jobs because of their cozy relationships with big oil?  Maybe.  But the Democrats controlling Congress for the last two years of Bush’s presidency didn’t seem to think it was a problem, and no one has found it to be a problem during Obama’s presidency.  Also, none of the above have ever said ‘no’ to a big oil campaign contribution.  So Nancy, stop spinning lies about “deregulation” and point that bony finger right back at yourself.

More from the Speaker,

“No longer will recklessness on Wall Street be able to cause joblessness on Main Street,” she said. “No longer will those on Wall Street be able to privatize the gain and nationalize the risk, send the bill to the taxpayer if things don’t go their way,” she said.

Once again, Nancy is placing the blame on others that she should be, at least partially, directing at herself.  Wall Street didn’t “privatize the gain and nationalize the risk,” Congress did.  When Pelosi, Congress, and President Bush bailed out Wall Street, they allowed Wall Street to privatize the gain while nationalizing the risk.  Also, the Bush Administration didn’t deregulate the big banks, President Clinton did that.

She concluded,

“It seems to me the choice is clear,” she said. “Democrats want to rein in Big Oil, the Republicans say no. Democrats wanted to rein in health insurance costs, the Republicans said no. The Democrats are reining in Big Banks and the Republicans are saying no.”

Nancy’s hands are as dirty as anyone’s.  She had no interest in reining in big oil until the BP spill, although she had ample opportunity.  So far, any efforts to “rein in big oil” so far have consisted of increasing their taxes; no additional regulations have been proposed.  The health care bill doesn’t rein in health care costs.  Instead, the CBO has concluded that they will only increase.  Finally, the financial overhaul bill won’t rein in the big banks in any meaningful way.

Before you blame others Nancy, you should take a lesson from the late Michael Jackson, and look at the man in the mirror.

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  1. lesly
    June 9, 2010 at 7:40 AM

    i just wanted to say….i love that there was a michael jackson reference! lol. i didn’t even know that was possible. 🙂

  2. June 9, 2010 at 11:09 AM

    well if i knew that was all i needed to get you to post a comment, i would have done it a long time ago. just for you, i will work in george michael reference today.

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