Misplaced Priorities

Today, our illustrious President proposed a new tax on banks to help re-coup the economic bailout costs. He's proposing this tax, not because the banks aren't paying back the bailout money, because they are. The banks have actually paid back $162 million of the $247 million they've been given...plus another $11 million in interest. No, Obama is proposing this new tax, because he doesn't approve of the latest round of bonuses some bank executives got. According to MSNBC, Obama said "his goal was to prevent such excesses in the future, not to punish banks for past behavior." Using tax policy as punishment...that's right out of the left wing extremist playbook, and is a bad move on so many levels. Is Obama foolish enough to honestly believe the banks won't simply pass these new taxes on to customers as new fees?

But that's not what has me so irritated. It's the following statements by our President:

"We are already hearing a hue and cry from Wall Street, suggesting that this proposed fee is not only unwelcome but unfair, that by some twisted logic, it is more appropriate for the American people to bear the cost of the bailout rather than the industry that benefited from it, even though these executives are out there giving themselves huge bonuses."

"What I'd say to these executives is this: Instead of setting a phalanx of lobbyists to fight this proposal or employing an army of lawyers and accountants to help evade the fee, I'd suggest you might want to consider simply meeting your responsibility."

Uh...how is paying back the money with interest no meeting their responsibility?

Again, not my point. Here's my real point...Obama's priorities are out of touch with what is really important right now. Today, Obama used tougher language with Wall Street than he ever has with any of the real enemies of this country. These are working American citizens who employ thousands of people, and he's treating them like they are misbehaving children. After the Fort Hood tragedy, Obama urged caution with labeling that a terrorist act, yet he has no problem railing against corporate executives for what he thinks are "obscene" bonuses. A terrorist gets more respect from the President than a hard working American citizen.

As I said, this is another example of the President's misplaced priorities. When our nation is struggling with 10+ percent unemployment, and a renewed push from terrorists (the recent activity at the Detroit Airport is an example), all Obama can do is worry about a health care plan the country doesn't want and bonuses paid to a few Wall Street executives.

I'd like to hope that the President will wake up and see the real problems in this country, but I don't expect there to be any change any time soon.