Quick thoughts on the State of the Union speech

I listened to both the State of the Union address by President Obama as well as the Republican response by Governor Bob McDonnell and wrote down quick notes on the various points they were making.  The following is that list of notes.  I will write my opinions on the two speeches tomorrow.

STATE OF THE UNION

Intro talking about the economy’s condition
- inaction by Washington
- partisanship
- hope for the nation

Economy
- “all hated the bank bailout”
- recovered most of the money spent on the banks
- proposed a fee on banks to recover the rest
- extended unemployment, passed tax cuts
- have not raised income tax
- 2Mill working that would have been unemployed
……….(Reid yawning on camera)
- All this possible by the Stimulus bill (Recovery Act)
- jobs focus of 2010, call for jobs bill (house passed, not Senate)
- financing difficult for small businesses, propose $30B from repaid tarp funds to go to community banks
- Small business tax credits to companies that hire new workers or give pay raises
- Eliminate capital gains taxes on small businesses (all cheer)
- national infrastructure programs, clean energy
- end tax breaks that ship jobs overseas

Infrastructure
- comparing China, India, Germany’s advances on improving their economy and future programs to the slow pace of the US
- “not interested in punishing banks”
- financial reform bill, Obama will veto if it doesn’t meet his standards (house passed, not senate)
- energy innovation, clean energy, call for nuke power (all cheer), off-shore oil development, biofuel and clean coal, climate bill (democrats cheer, house passed, not senate), call bipartisanship in senate, jabs at climate change evidence
- challenge to be global leader in clean energy (all cheer)

Trade
- increase goods export, goal to double exports over 5 years/increase 2 Mill jobs
- trade deals but not free trade (south korea, panama, columbia stressed)

Education
- reward success, invest in reform
- anti-poverty program is education
- revitalize community college bill (house passed, not senate)
- end bank subsidies to banks for student loans, give $10K grant to families, pell grants
- 10% of income on student loans, difference waived after 20 years, 5 years if public service

Middle class
- childcare tax credit doubled
- step up refinancing for mortgages

Health care
- health insurance reform (slow applause, all ended up standing)
- highlights political problem surrounding health care over the past year
- needed for financial security
- touts democrats proposals
- calls for refocusing effort to reform, calls for bipartisanship (republicans stand, dems sit)

Deficit
- history of last decade, blames bush for debt “all this before I walked in the door”
- required spending to ward off depression
- free government spending for 3 years starting in 2011 to pay off 2009 $1 Trill deficit (assumes economy better next year)
- threatens veto
- extend middle class tax cuts, not for oil companies or those making over $250K
- calls for bipartisan fiscal commission
- issuing executive order since Senate blocked resolution
- restore paygo

Public trust/Lobbyists
- “deficit of trust”
- declare lobbyist visits
- Supreme court ruling
- challenge congress to pass bill to dampen ruling
- earmark reform
- publish all earmark request online before vote
- highlighting obstructionism
- references Mass election
- highlights Democrats large majority, “not run for the hills”
- chides senate republicans for not participating, require supermajority

National security
- 9/11 unity
- investment in homeland security
- prohibited torture
- captured/killed terrorists
- training Afghan forces
- leaving Iraq, promised to end the war, all forces out by end of August
- Support military/families
- Arms control treaty with Russia, secure nuclear weapons (44 nations)
- North Korean sanctions, Iran isolated
- US must always side on freedom and human dignity abroad

Domestic
- civil rights division
- strengthen hate crime legislation
- repeal don’t ask, don’t tell
- equal pay laws
- immigration reform
- chides bankers, politicians, media
- notes political setbacks, some were deserved
- “I don’t quit”

……………….thoughts…………………
- multi chides against banks, obsessed
- calls for reduced spending but proposes more spending, tax credits
- long speech
- issue with separation of powers
- pushes focus onto republicans to divert negative attention
- defiant, stay the course
- Didn’t mention Detroit/Gitmo nor NYC trial

RESPONSE
- highlights need to create jobs
- notes 10% unemployment nationally, highest unemployment in VA in decades
- need to create environment to allow US to compete internationally
- quotes Jefferson about limited government
- evaluates the lack of performance of Stimulus bill, $100K debt per household
- need to reform government
- health care reform necessary without Fed involvement
- energy independence, need access to resources
- hindrance by Fed to allow states to expand energy exploration/development, hurting jobs
- education reform, access to variety of schools
- support troops, highlights successes in Middle East
- concerned over national security, legal treatment of Detroit bomber
- Equality of opportunity
- concern of government’s growth into business, interfering with states rights
- create opportunity for all

………………thoughts………………….
- live audience
- similar setting
- podium in the middle of floor, not at stage
- Obama stated that people said he shouldn’t do too much, McDonnell says gov’t is doing too much