Chances are it could be? While historic in its proportions, the victory sheen has now worn off as the vetting has begun. Former Clinton Aides and Obama staffers are now being pegged for positions in the Cabinet along with Gates as Secretary of Defense (a wise choice in my mind). But in the big scheme of things, this could be a no-win situation. How so?
1. The Economy – Although Geithner’s and Summers’ announcements provided a brief rally, the systemic problems of 8 years of Bush deregulation cannot be solved with the waive of a wand or stimulus package. This will take 2-3 years to solve and revitalize (more like 3).
2. The Big 3 – 3 million jobs linked to one industry are on the verge of a collapse. An extravagant request of $25 billion fell on deaf ears amidst the roar of jet engines. What is needed is a total restructuring of the automobile industry and I don’t know if that is going to happen. GM and Chrysler would rather go under than let someone tell it how to run its business. Sometimes I think that might be the best thing and let another entrepreneur fill the void with economical cars, smarter management, and a more efficient and profitable corporation. If Congress does decide to loan the Big 3 the money, you can be assured it will be filled with conditions that GM or Ford may not want to accept. Therein lies the conundrum.
3. Mo Money Mo Problems – Just look at the map above. I think these are only half the problems. Continually throwing money at the problems will not fix them. It is going to work – both physically and mentally. The mental side will be the hard part as new of thinking will have to come into play. The old way of the old boy network way of doing things will need to be thrown aside. Efficiency of thought and management will be the key. It is not so much a green way of thinking but it is close. It is more a change in behavior.
As to how Obama will do, it doesn’t matter who is in the cabinet so much as how they carry out his policies; How they infuse their ideas with his; and how they change the behaviors of the past 8 years. It may not be a no-win presidency, but unless behaviors change at the top, it will be.