In February 1964, John glanced out his airplane window as the jetliner slowly approached the terminal at the then newly-renamed John F. Kennedy International Airport in New York and saw what looked like thousands of people gathered, packed together, mostly female, mostly young, waving frantically. They were waving their hats, their hands, pushing against the dozens of New York City policemen, who tried, mostly in vain, to maintain some semblance of a police line.
Paul and George then quickly rushed to their airplane windows and saw the crowd, as well.
Ringo then glanced over from his seat on the other side of the plane, and upon seeing the crowd, mumbled, "I guess the governor or do you think maybe the president has just arrived?"
It was at that point that John, Paul, George, and Ringo suddenly realized who the crowd had gathered for.
**
On January 20, 2009 an enormous crowd - - perhaps 2 million or maybe more - - will gather in Washington, D.C. to see Barack Obama inaugurated as the 44th president of the United States. And they'll no doubt be lots of cheers and people waving frantically.
After that, Obama faces hard work. A lot of hard work. Arguably, Obama faces the toughest conditions -- economic or otherwise -- for any new president since President Franklin D. Roosevelt in 1933, and certainly since President Harry S.Truman in 1945.
One could make the case that President Gerald Ford faced more difficult governance conditions after President Richard Nixon resigned in 1974 during the Watergate scandal, but today's conditions (unfortunately) probably trump the circumstances of 1974. Consider what awaits Obama:
U.S. recession. Rising unemployment. Declining corporate earnings. Housing sector in deep recession. High home mortgage foreclosures. Listless business investment. Auto sector at a low point. At least 30 million Americans without health insurance. Rising federal budget deficit. Rising state budget deficits. Global recession. Constrained credit conditions. The Iraq War. The Afghanistan War / War on Terror. And now an end to the cease-fire between Hamas and Israel.
In April 1961, at the low point of his presidency, a reporter asked President John F. Kennedy if he still felt his work could make a difference, and if he still liked the job. Kennedy said he did.
"And besides," Kennedy said, "the pay's pretty good and I can walk to work."
Here's hoping Obama feels the same way.
- -
Financial Editor Joseph Lazzaro is writing a book on the U.S. Presidency and the U.S. economy.
One could make the case that President Gerald Ford faced more difficult governance conditions after President Richard Nixon resigned in 1974 during the Watergate scandal, but today's conditions (unfortunately) probably trump the circumstances of 1974. Consider what awaits Obama:
U.S. recession. Rising unemployment. Declining corporate earnings. Housing sector in deep recession. High home mortgage foreclosures. Listless business investment. Auto sector at a low point. At least 30 million Americans without health insurance. Rising federal budget deficit. Rising state budget deficits. Global recession. Constrained credit conditions. The Iraq War. The Afghanistan War / War on Terror. And now an end to the cease-fire between Hamas and Israel.
In April 1961, at the low point of his presidency, a reporter asked President John F. Kennedy if he still felt his work could make a difference, and if he still liked the job. Kennedy said he did.
"And besides," Kennedy said, "the pay's pretty good and I can walk to work."
Here's hoping Obama feels the same way.
- -
Financial Editor Joseph Lazzaro is writing a book on the U.S. Presidency and the U.S. economy.
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Reader Comments (Page 1 of 1)
12-31-2008 @ 4:35PM
Mike said...
This writer is a joke; amongst the class of people who get "tingly feelings" running up their legs whenever the word Obama is heard within an earshot. I read through his refuse yesterday here, the one which he believes that universal health care and controlling the salaries of doctors will fix the economy. Easy there comrade...
Government attempting to correct the free markets is like letting a house cat manage the local pet store.