NYT: Obama’s Other Success

It’s amazing what the Obama administration has accomplished, in spite of the unprecedented obstruction of the party of NO. The President deftly bobs and weaves between the continuous, often irrational criticisms hurled from the right and left and actually gets stuff done. One can only imagine the state of the nation’s affairs were every elected official so committed to doing their jobs.

Slow and steady, steady and slow. The skills that have earned Barack Obama the presidency, twice, continue to work for the nation while Republicans remain stuck in the mire of their own fabrications. Obamacare is proving to be another feather in the President’s cap as the number of uninsured citizens rapidly drops along with projected costs. While Mitch McConnell continues to rant about the “disaster” of the Affordable Care Act, hundreds of thousands of Kentuckians have signed up, bringing that red state’s uninsured rate from 20.4% last year to 11.9% presently. 

Just keep talking, Mitch. See you out in November …

Financial reform has gotten even worse press than healthcare but an honest look at those numbers tells a similar tale. 

Forget about the haters. Let’s keep our focus forward.

President Obama got this, not that I ever had a doubt

Obama’s Other Success

obamashadesDodd-Frank Financial Reform Is Working

AUG. 3, 2014

Although the enemies of health reform will never admit it, the Affordable Care Act is looking more and more like a big success. Costs are coming in below predictions, while the number of uninsured Americans is dropping fast, especially in states that haven’t tried to sabotage the program. Obamacare is working.

But what about the administration’s other big push, financial reform? The Dodd-Frank reform bill has, if anything, received even worse press than Obamacare, derided by the right as anti-business and by the left as hopelessly inadequate. And like Obamacare, it’s certainly not the reform you would have devised in the absence of political constraints.

But also like Obamacare, financial reform is working a lot better than anyone listening to the news media would imagine. Let’s talk, in particular, about two important pieces of Dodd-Frank: creation of an agency protecting consumers from misleading or fraudulent financial sales pitches, and efforts to end “too big to fail.”

The decision to create a Consumer Financial Protection Bureau shouldn’t have been controversial, given what happened during the housing boom. As Edward M. Gramlich, a Federal Reserve official who warned prophetically of problems in subprime lending, asked, “Why are the most risky loan products sold to the least sophisticated borrowers?” He went on, “The question answers itself — the least sophisticated borrowers are probably duped into taking these products.” The need for more protection was obvious.

Continuing reading here


~ by katrinataylor44 on August 6, 2014.

One Response to “NYT: Obama’s Other Success”

  1. Reblogged this on The ObamaCrat™.

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