The Brink, The Brim, The Cusp

Inaugural poetess Elizabeth Alexander's words left me wondering the same question I had on Nov. 3rd: The cusp of what?

Far be it from the humble editor of a fledgling new-media product to critique poetry, since my meager attempts at rhyming usually involve slang or other unseemly language. But, if the purpose of the Inaugural Poem is to inspire, then Ms. Alexander can claim a success in my listening.

What she inspired, though, was a re-awakening of the same questions I had about Barak Obama throughout his two year campaign. What does he believe, and what will he do?

The mantra of 'Change", so often invoked by our new President, was just vague enough to be captivating without requiring any substance.

As a political tool, it worked perfectly to allow every Obama listener to project what he or she wanted to hear on a blank screen. The only problem with it's use is that it is bound to lead to a reality induced hangover sooner or later. And it won't just be an American morning after.

People the world over are hanging hope and aspirations of all sizes on our new President, who is now saddled with the reality of managing expectations on a global scale.

Sarah Palin made of joke of Obama's healing the planet and turning back the waters during the campaign. Sadly, there are some who expect just those kinds of miracles from him.

Take the economy, for instance, since it is the largest elephant in the room right now. A recent poll found that almost 70% of respondents expect Obama to mend our ailing markets. One has to wonder what they are basing those hopes on?

Surely not more bail-outs and spending packages. Evidence of how well that is working came just today, when the Dow plunged over three hundred points as Obama took the oath of office.

If he keeps his pledges of transparency and straight talk, President Obama will sooner or later have to tell a country and a world that the solution is to suck it up, suffer the pain, abandon the failing constructs of governmental charity, and to deal with the difficulties of allowing a truly free market to adjust freely.

If he does that, then we are on the cusp of a real opportunity to right some bad policy decisions forty years in the making. And he will be on the brink of a popularity plunge that will make Bush 43 look like a shining star.

If, on the other hand, he chooses to 'spend his way out', as the cliche goes, he stands a chance of maintaining his current global popularity while pushing this country over the brim, and into a pit of debt so deep we might never climb out.

Consider that to spend what you don't have, you have to borrow. That's plain kitchen table Economics 101. With that concept, so illusive to the DC crowd, firmly in mind, ask yourself who the banker might be.

China? Saudi Arabia?

No matter where you find your credit, the banker doesn't have our best interest at heart. And if our children can't make the note, who suffers when the repo notice arrives?

And that's one home ownership we simply can not afford to default on.