Tea Parties Starting to Worry the White House

Beware the populist uprising:

WASHINGTON: The Obama administration is increasingly concerned about a populist backlash against banks and Wall Street, worried that anger at financial institutions could also end up being directed at Congress and the White House and could complicate President Barack Obama's agenda.

The administration's sharp rebuke of the American International Group on Sunday for handing out $165 million in executive bonuses — Lawrence H. Summers, director of the president's National Economic Council, described it as "outrageous" on "This Week" on ABC — marks the latest effort by the White House to distance itself from abuses that could feed potentially disruptive public anger.

"We've got enormous problems that need to be addressed," David Axelrod, Mr. Obama's senior adviser, said in an interview. "And it's hard to address because there's a lot of anger about the irresponsibility that led us to this point."

"This has been welling up for a long time," he said.

Mr. Obama's aides said any surge of such a sentiment could complicate efforts to win congressional approval for the additional bailout packages that Mr. Obama has signaled will be necessary to stabilize the banking system.

As it is, there have already been moves in Congress to limit compensation to executives at banks and Wall Street firms that are receiving government help to survive.

Beyond that, a shifting political mood challenges Mr. Obama's political skills, as he seeks to acknowledge the anger without becoming a target of it. A central question for Mr. Obama is whether his cool style — "in a time of crisis, we cannot afford to govern out of anger," he said in his address to Congress last month — will prove effective when the country may be feeling more emotional.

So, does Obama have anything to worry about? Well, over the weekend thousands of people turned up in Cincinnati for a tea party protest there. There were also protests in Columbus, Ohio, Little Rock (more here), Kansas City, and Boise.

In the coming weeks dozens if not hundreds of tea party protests will be held in cities large and small around the country. PJTV has a list of upcoming events if you wish to find one in your area.

Yes, Obama has something to worry about.