The NY Times profiles Obama as economic steward of the nation: Now Mr. Obama is building a case that an era of Republican dominance has bequeathed a set of problems that demand a more active government capable of restoring fairness to the American model of democratic capitalism.
One reason I have confidence in Obama is based on how his Presidential primary campaign was run. He appointed a strong group of people, assigned tasks and then held them accountable. Considering that his two major rivals for the Presidency, Hillary Clinton and John McCain, both had campaigns that went broke, I'm glad we have the person who actually managed to pay out bonuses post-election because he had a surplus (special note: don't expect to see that word very often) from his campaign funds.
It is great to have adults in charge again. Unlike his predecessor- who's approach to long-term financial planning was the equivalent of sticking his fingers in his ears and loudly yelling "I can't year you. Iraq and Afghanistan costs will be included separately. The AMT will will collect billions of dollars in tax revenue. Blah blah blah."-, Obama is attempting to 1) produce a complete budget and 2) plan into the future. While the news is bad, the first step toward conquering a problem is admitting you have one and the second is understanding the scope.
ReplyDeleteNow we see if Keynes was right. Again.