Sep 30 2008
The Economy
First, I’m not an expert…I’m not even a pseudo expert. I listen to/read the news, have a basic understanding of our economy, and form opinions that I like to think are at least well informed. So here is my take. I’ve done a lot of reading and I’m now more willing to accept the need of some sort of ‘bailout plan’. However, I still think Congress did the right thing in rejecting the plan that was submitted yesterday. There are a variety of reasons I didn’t like it…too much power to the Sec of T, not enough consequences on the gamblers, not enough rules all around.
I’d like to see Congress get economists together (that have different view points) to come up with a plan that details what will be done, with what oversight, how the government will eventually remove itself from the role it will be taking on, a requirement for the development of regulations to prevent such gross mishandlings in the future, and where the funding will come from (as in taxes).
I hope that there is a debate in the committee that is drawing up the new plan (and I truly hope there is a new plan and not pressure to accept the old one with minor revisions). I want everyone to stop being reactive and start being proactive. I want a plan that is more thoughtful and that will be useful long term….not a stopgap measure.
Someone is doing/has done that. He met with former Treasury Secretaries, Warren Buffet, seven top economists, Alan Greenspan, and former Secretaries of State to gain a world view on the economic situation. They converse every day, and they’ve formulated a plan that should prove to be quite successful.
That guy’s name happens to be Barack Obama.
Thank you for you comment… I loved it! And I must say that what I like most about your site is that it keeps me up-to-date in many ways. Sadly, though I confess… my political/news forte has been stagnant as of late.
Pitiful… I know… because, evidently, while I’m of chasing Zombie Road, the world is always changing. lol