We are going to begin a new series of columns called the Storch Playbook dealing with a variety of subjects  and commentary on same and they will follow our usual format of dealing with commentary, opinion and satire.  This column deals with the CBS 60 Minutes interview with President Obama

While covering the CBS interview by Steve Kroft of “60 minutes,” tonight I didn’t find President Barack Obama to be very upbeat about the economy for he said he believes the global financial system remains at risk of implosion with the failure of Citigroup or AIG, touching off “an even more destructive recession and potentially a depression.”

And he was laughing while making these comments about the perils of the state of the economy.

Kroft asked him, “Are you punch-drunk?”

“No, no.  There’s gotta be a little gallows humor to get you through the day ,” Obama said with a laugh.

He made it clear that he’s afraid the nation hasn’t seen the worst of it — even calling for the possibility of a “depression”.

He says, however, that he is “optimistic about that not happening, because we have learned from the Great Depression.”

He says that Wall Street executives need to spend some time out of New York.  He said the people in South Dakota would be happy making $75,000.

He said there was a cultural war from Wall Street to Main Street.

At the same time he tended to stop short of endorsing legislation, that Congress is proposing, to tax nearly all the bonuses of executives at AIG.

He says you don’t want to be passing laws that are just targeting a handful of individuals . . . And as a general proposition, I think you certainly don’t want to use the tax code — to punish people.

He said that you can’t govern out of anger.  And, that he was not going to be distracted and was going to stay focused.

While Congress is calling for Treasurer Secretary Timothy Geithner’s resignation Obama said he was doing a “terrific job.”

How come most of us don’t think this to be the case?

He admitted that his administration did not anticipate the depth of the decline with respect to jobs.

He said there were systemic risks out there.  “There were a lot of bad choices that flowed from the past when I wasn’t here.”

He was critical of Vice President Cheney who was critical of him.  He said that the Bush/Cheney administration did not do a good job of sorting out terrorists.  He implied that this was a legacy that was left behind that he had to deal with.

It is clear that Obama has no executive experience and that he is learning on the job, continues to blame what he inherited forgetting that the past is prologue. Perhaps he is bright enough to pull it off — let’s hope so.  But so far he is lost without his teleprompter.

He calls the White House, “nice digs.”  I would hope so with 135 rooms and 35 bathrooms, a house in which he admitted to getting lost.

But the best is Michelle’s Veggie Garden — it’s the first since Eleanor Roosevelt had a Victory Garden on the front lawn since World War II.  Perhaps the times are equivelent?

My Dad had a Victory Garden during World War II.  I remember he had a prize eggplant that was quite large, but waited too long for it to grow larger and someone stole it.

Michelle says Obama doesn’t like beets, so there will be none in her Veggie Garden.  I don’t know about eggplant.  But whatever you’re growing pick it when it’s ripe.  However in this case the secret service should prevent the theft.

And, Obama, work on your playbook, because it’s not yet where it should be.