Thursday, March 27, 2008

Obama's Economic Plan

Well not really a plan so to say:

"If we can extend a hand to banks on Wall Street, we can extend a hand to Americans who are struggling," he said.

To fix the economy, Obama proposed relief for homeowners and an additional $30 billion stimulus package to address the nation's economic woes.


Instead, Obama said, the next president should:

_Expand oversight to any institution that borrows from the government.

_Toughen capital requirements for complex financial instruments like mortgage securities.

_Streamline regulatory agencies to end overlap and competition among regulators.

While he laid out a half-dozen principles for closer scrutiny of the financial markets, he offered no specifics, such as which agencies should be reorganized or exactly how the government should go about peering over the shoulders of bank executives.

Where are the specifics? There aren't any. But my idea of how to fix the economy does not include bigger government. My idea of fixing any problem does not include more government.

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