Obama inherited a severe economic problem regardless of its source. It requires expensive solutions and careful analysis and monitoring. Like past presidents he must balance the government’s role and that of the private sector, but that balance is even more crucial given the unprecedented size of the problem and the urgency caused by frozen credit markets.

Just resolving this financial crisis is more consuming than most problems faced by new presidents. Yet Obama is overreaching. He wants to fund the financial bailouts and completely change our energy consumption with carbon credits, completely reform the health care sector, fund universal college education, and cut taxes for the vast majority of Americans and raise taxes on the rest. The so called stimulus package stretches our financial capabilities to new levels leaving most of us wondering how to pay for that.

I would have much more respect if he admitted our limits and focused on solving the most crucial crisis first instead of fulfilling every campaign promise in the first 100 days.

Carbon caps will raise energy costs for everybody. Promises to promote union growth by eliminating secret ballots will drive companies and their jobs overseas. Raising tax rates on the wealthy will drive down the dollar revenues. The size of the government as a percent of GDP will squeeze job creating, tax paying business out of the capital markets. Tax revenues will decline as government spending dramatically increases.

California is bankrupt from passing every socially progressive legislation the state wanted. California faced the same problem every government faces; saying “no” to worthwhile programs we can not afford. The wax is melting on California’s wings.

You can accomplish just about anything, but you can not accomplish or afford everything. Politics is a grown up game and requires grown up decisions.

Obama has certainly shown himself willing to make radical changes, but he has not shown himself able to make difficult choices.

His flight may be short lived.

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