I’ll be live-blogging President Obama’s news conference tonight. If you like multi-tasking, please drop by a few minutes before 8 p.m.
8:00: Bill Bennett, on CNN, says independents now favor Republicans. But Real Clear Politics average on Obama’s job-approval rating shows the president at 61.2 percent favorable, 30.5 percent unfavorable. Who are these independents?
8:04: Cites Geithner’s bank plan. Good timing for news conference — Geithner finally got off the mat yesterday.
8:06: “I’m as angry as anybody about those bonuses” but “we’re all in this together.”
8:07: Much shorter opening statement this time.
8:11: Chuck Todd: Why haven’t you asked the American people to sacrifice, given that some (who?) have compared the economic crisis to war? But Chuck — the crisis is eased when people spend.
8:15: Still thinking about Todd’s question. What does it even mean? Savings rate is higher than it’s been in many years — and that’s a big part of the problem.
8:19: Chip Reid of CBS News another economic ignoramus: Isn’t that debt what you were referring to when you said we didn’t want to pass it on to next generation?
8:20: Obama: I inherited a huge deficit from Republicans. My budget will drive it down.
8:26: The questions show a fundamental lack of understanding that, in the midst of an economic crisis, the best approach for the federal government to take is to spend in order to offset at least part of the lack of spending by the private sector. If anything, as Krugman keeps pointing out, Obama isn’t doing enough.
8:27: Mexican reporter asks about drug violence in her country and spillover effect on the border. Who let her in? Serious, substantive questions not allowed.
8:31: Obama’s lost in the weeds responding to a question from Stars and Stripes on military spending. Or, to be more accurate, he’s led us into the weeds and now we’re lost.
8:33: Ed Henry of CNN: Why is Andrew Cuomo getting better results going after AIG than you and Geithner? Good question. Then, before Obama can answer, he follows it up with another dumb budget question. Not surprisingly, Obama chooses to answer the dumb budget question.
8:36: Obama on why he waited to express anger at AIG: “It took us a couple of days because I like to know what I’m talking about before I speak.”
8:40: Mike Allen of Politico: Are you reconsidering tax deduction for health care and charity? Do you wish you hadn’t made that promise? Obama: We would return to the Reagan percentages, and it would only affect one percent of the American people. If you’re rich, you’d be able to write off 28 percent of charitable deductions, not 39 percent.
8:43: Allen: Charities say this will hurt giving. Obama: No, it won’t. What really hurts charities is an economy that isn’t working.
8:46: Ann Compton of ABC News: How is race affecting your presidency? Obama: I’ve been focused on the economy. Racial significance of inauguration “lasted about a day.” “Are we taking the steps to improve liquidity in the financial markets, create jobs, get businesses to reopen, keep America safe.”
8:48: Washington Times guy: How much did you wrestle with your conscience over embryonic-stem-cell research? Half a nanosecond is my guess as to what would be a truthful answer.
8:52: Agence France-Presse guy: How are you going to bring peace to the Israeli-Palestinian confrontation given Israel’s new anti-Palestinian government? Funny — no mention of Hamas’ terrorism against Israel. Obama: Former enemies in Ireland celebrated in the White House on St. Patrick’s Day. “What that tells me is that if you stick to it, if you are persistent, then these problems can be dealt with…. I’m a big believer in persistence.”
8:56: “We’re moving in the right direction.” Geithner now has a plan. We’ve reached out to Iran, but that will take time. We haven’t eliminated the influence of lobbyists immediately, nor have we eliminated pork-barrel spending. The idea is to keep moving forward. “This is a big ocean liner, it’s not a speedboat. It doesn’t turn around immediately.” But after four years, I hope people will see we’ve moved in the right direction.
8:57: And that was that.
9:03: Bill O’Reilly: He was boring! Karl Rove: “I think he’s sort of an arrogant guy.” Now they are sharing their deep knowledge of economics.
9:06: O’Reilly: When I interviewed Obama, man, I was so great.
Final word: I’ll be wrapping up morning commentary for The Guardian tomorrow. But it strikes me that what we saw tonight was the normalization of the Obama presidency. This was no big deal, very much unlike his last prime-time news conference. Obama seemed to feel free to deflect stupid questions. It helped that Geithner’s having a nice little two-day run.
People should pay attention to Obama’s closing, in which he talked about persistence and the long run. It’s how he got elected. And it seems to be how he approaches politics, and life.