NY Post editorial - March 7, 2009
At least President Obama knows the economy has problems. He's spoken of a "financial crisis," a "housing crisis," a "credit crisis" - you name it.
So he earns points for recognizing the ills that plague us. Too bad he isn't doing much about them.
Sure, the administration's housing program promises to keep more Americans in their homes - but it cannibalizes the troubled financial industry to do so.
It's clear that TARP won't solve the toxic-assets problem. Maybe Team Obama just prefers to let the financial sector remain one big Superfund site?
No strategy has emerged to bring financial regulations into the 21st century.
And the plan for recidivist beggars like AIG and General Motors is to throw more of your tax money at them.
All this as reports surface that Treasury Secretary Tim Geithner has yet to hire a single deputy - leaving Treasury virtually paralyzed during a major recession.
But instead of cleaning up the mess, Obama has wholly invested himself in a massive scheme to remake the Republic. In the name of "economic recovery," he's laboring to nationalize health care and education, and plowing megabillions into the flimsy promise of "green" energy.
Now, if the evaporation of trillions of dollars of wealth had been caused by a shortage of solar panels, or lack of a universal-health-care card, he might be right to do so.
So let's be clear: His priorities are seriously misplaced - an observation that's starting to get some traction. (continues...)
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