Full Court Press

I’m kind of like a fat guy at a buffet table. I can no more pass on the desserts than I can a chance to weave sports themes into politics.

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Although the President has resisted using them, clearly he’s approaching his job like he’s in the heat of a big game. In truth, he is.

Unlike his predecessors, Mr. Obama has not had the luxury of a Presidential “honeymoon.” Because of the current economic crisis, he has been under the gun to hit his jump shots long before he ever laced up his Presidential sneakers.

Now, he’s grabbed his sweats and is taking his team on the road.

With an approval rating above 60 percent, he’s put on his pads and is going on the offensive against his political detractors to sell his economic recovery plan. Yesterday, it was Elkhart, IN. Last night, it was a nationally televised press conference from the East Room of the White House. Today, it’s Fort Meyers in Florida.

Ever Heard Him Sing?

It wouldn’t surprise me to see him playing HORSE at the upcoming NBA All-Star Game or singing the National Anthem before the Red Wings take the ice.

Even though the President is playing almost every position, he’s about to hand the ball to his ace, Tim (The Taxman) Geithner. With the series hanging in the balance, he’s betting that Geithner can hold the side.

According to early reports, Geithner will lay out a “comprehensive” attack on the financial crisis, warning that the administration’s strategy will “cost money, involve risk and take time.” It sounds to me as if Geithner is setting the table for a continued losing streak by the U.S economy.

The Treasury chief is pledging a further round of capital injections for U.S. banks and an initiative, in partnership with private investors, to address the toxic assets weighing down banks. The administration’s plan is designed to support about $1.5 trillion in new lending and handling of distressed assets. Geithner’s toxic assets fund will start with an initial capacity of $500 billion that could grow to $1 trillion.

Geithner promises to “kickstart” lending by working with the Federal Reserve to finance as much a $1 trillion in new consumer and business loans. The freshly established Consumer and Business Lending Initiative is modeled on an earlier Treasury program to support new credit.

Dow Plummets

With the Dow down nearly 300 points at this writing, it doesn’t look America’s investment community is waiving pennants for the home team.

Despite being in office less than a month, the President not only is fighting the clock but a heavily entrenched Republic opposition. To fend off the Republican pass rushers, he's using tactics straight out of the Gipper's playbook. He's appealing directly to the fans.

Under the direction of his offensive coordinator and former campaign manager, David Plouffe, the President's people are sending out millions of email blasts to his army of supporters. The emails include a link to a special Presidential pep talk video urging his core to turn up the heat.

With a vote set today on the President's $838 billion rescue and recovery package, he doesn't want his plan to end up like the Cardinals’ squandered victory at the Super Bowl. Even with all the offensive pressure being applied by the President, it looks like only three Republicans will break ranks. Apparently the notion of bi-partisan support has been thrown for a loss.

Whether the President's economic plan is a game winner or not, he doesn't appear timid about taking the "rock" strong to the hoop.

As a sport fan, you've got admire his game plan. But I still think he's going to need one of the Joes, Namath or Montana, to throw a long bomb to ice his victory.