Suppose I had my eye on a new house, a real “fixer-upper”. It’s a bigger house than I have now, and it’s more money than I want to spend, but I want it nonetheless. And maybe “fixer-upper” is too generous. There are leaks in the roof, the appliances are old and some are even broken, and the yard is overgrown. But I want this house, and I decide to pull out all the stops to make it mine, exhausting my savings and borrowing heavily. Then imagine that during the time between the acceptance of my offer and the closing, the leaks worsen until finally, right after we close, a full-fledged hole develops in the roof, allowing rain, cold air, debris and other undesirable things to enter the house through the hole, rendering it nearly uninhabitable. At this point, however, we are committed, this is our home, and so we proceed as planned and move in.We have big plans for this house. We plan to add a new master bedroom to the back of the house, we want to put a pool in the back yard, and we also want to take the necessary steps to make the house “green”. Our first few weeks in the house, however, things aren’t going too well. The constant cold air rushing through the hole in the roof forces us to use the heat at all times, driving up our power and gas bills. The washer and dryer, already old and unreliable, finally kick the bucket, joining the refrigerator on the list of now defunct appliances. About a month after we move in, the area of the roof where the hole had been completely collapses, and now we have no roof over the dining room at all. Our new house is basically a living hell, and I find myself constantly reminding my wife that we didn’t cause the problems in the house. Did the previous owners really allow the house to fall into such a state of disrepair?
I promise my wife that we are, first and foremost, going to address the roof. It has to be done. We are basically living outdoors. We ask for a number of estimates on the roof, and despite the fact that one of the roofers has had his license revoked for construction violations, he says he has the most experience dealing with roof problems like ours, and so we hire him anyway. He begins to show up every day, but it seems as though he only examines the roof over and over again, taking pictures and measuring, but not actually doing anything. One day as I watch him again examining the missing roof, I ask him just when he plans to get to work. He tells me that he is still formulating the best plan of action, and that as soon as he has a full plan in place, he’s going to get started. I’m slightly irritated – there’s no roof over our dining room, after all – but he’s supposedly the best, and I figure it’s probably better if I don’t interfere too much.
In the meantime, I have promised the kids for years that we would have a pool as soon as we moved, and I just don’t think I can make them wait. I contact the pool company, and they come out to give me an estimate. It’s staggeringly expensive, but a promise is a promise, and so I go back to my bank where, miraculously, I’m given additional loans. At dinner the next night, I tell my kids that we’ll break ground on the new pool in a few weeks, and of course, they are ecstatic. My wife is worried, though, because of the other problems that remain unaddressed, but I think I know how to pacify her. I’ve been promising her the new master bedroom, and deep down, she’s as excited about that as the kids are about the pool. The next day, a contractor shows up to give us an estimate on the addition. It’s almost as much as the pool, and while I feel a little sick to my stomach, I am able to borrow against my mortgage to get the cash to pay for it. When she hears that we’re going to begin building her dream bedroom, she nearly forgets about the missing roof.
The following week, we’ve broken ground on the pool, the plans are in place for the new bedroom, and the roofer still shows up every day to tinker with his plan, but he hasn’t yet made the repairs. At the same time, the missing roof has become such a constant that we’re almost immune to the inconvenience and discomfort, and we continue to wait for the roofer to work his magic. But then things change dramatically when I get some bad news: I’ve been laid off at work. While they offer me a decent severance package, with the job market as tough as it is, I know it’s going to be hard to find work. In an attempt to soften the blow that the news will be to my wife, after I leave work for the last time, I go right to Sears and buy the best washer, dryer and refrigerator they have with my Sears Card – the only credit card on which I’m not maxed out!
When I get home, all is not well, though, as our pipes have burst and the first floor is flooded. The pool company asks if I still want to move forward with the pool, and the contractor offers to halt construction of the new master bedroom, but I am terrified of disappointing my wife and kids, so I go full speed ahead on both. Even the environmental company is nice enough to offer to cancel our consultation, but my in-laws have made it clear that they won’t visit us unless our house is environmentally friendly, and I do not want to cross my mother-in-law! The environmental consultant is aware of my situation, and amazingly, he tells me that I can delay my payment by a year if necessary, and so I tell him to go ahead and get started on making our house green. My mother-in-law is thrilled! All in all, things seem pretty good.
Does all of this sound completely and utterly crazy? It certainly should. The scary thing is that this is nearly the equivalent of what Barack Obama has done in his 50 days in office. In this little allegory, I’m President Obama. The house is the country. The roof is our economy and financial system, and the roofer, obviously, represents Treasury Secretary Timothy Geithner. My wife and kids are the various far Left constituencies who helped elect Obama, and to whom he is politically indebted. The pool represents the Obama budget, the master bedroom is the stimulus package, and the plans to make the house green symbolize Obama’s recently unveiled healthcare initiative. My father-in-law is Harry Reid, and my terrifying mother-in-law is Nancy Pelosi.
In the last few months, our economic and financial problems have worsened dramatically, and as things have deteriorated, the administration has looked at the problems, talked about the problems, but really done nothing to fix the problems. Despite this glaring and fundamental issue, Obama continues his incredibly ambitious and expensive plans with almost no regard for the growing economic mayhem around him. Last week, on the same day the Dow again lost another 4%, Obama announced plans for healthcare reform with a $650 Billion price tag. He is prepared to sign a $3.6 Trillion budget which will not only double our national debt and add more to our deficit than all of his predecessors combined, he is prepared to sign this budget replete with its 8570 earmarks – earmarks Obama promised to do away with. All the while, our economic and financial predicaments become more and more severe, and Tim Geithner has yet to offer any sort of concrete plans to address it. The proverbial house is crumbling around him, but the president seems determined to make it bigger anyway.
Our new president didn’t cause the problems he now faces, but he has exacerbated them. What Obama and his administration should have done – and perhaps still can and should do – is set aside their other plans and focus almost myopically on the economy. The other initiatives can and must wait. Fix this, and the political capital Obama will have will be nearly limitless, and the American people will support almost anything he wants. But fix it, and fix it now. As one of the ubiquitous talking heads noted on television recently, Obama and his team are remarkably good at politics, but are they as skilled at governing? Let's hope so.
(An abbreviated version of this post can also be seen at Splice Today: http://splicetoday.com/).
