I just had to do it.
Posted on 11/05/2008 8:59:51 PM PST by NormsRevenge
WASHINGTON (AFP) – With the US economy mired in its worst crisis in decades, president-elect Barack Obama is likely to chart a new direction away from the unbridled capitalism of recent years but faces a challenge in restoring confidence, analysts say.
Obama is likely to be engaged on the economy even before his January inauguration, possibly working on a new stimulus plan in the lame-duck Congress and with some role in the November 15 global economic summit being hosted by outgoing President George W. Bush, say analysts.
"President-elect Obama needs to fully engage in economic policymaking beginning now," said Mark Zandi, chief economist at Moody's Economy.com.
"For this kind of unprecedented transition, he will need the cooperation of both the Bush administration and the lame-duck Congress. A number of significant policy initiatives are already in place, but more needs to be done, and critical decisions will have to be made within the next few weeks."
Cary Leahey, senior economist at Decision Economics, said he expects Obama to press for an immediate stimulus plan in the lame-duck Congress worth about 200 billion dollars to avert a steeper economic downturn.
Leahey said an Obama administration is likely to react to the global crisis with a tougher approach to financial regulation, reversing some 30 years of deregulation.
"I was taught that economics is the study of managed capitalism. But since 1978 and the deregulation of the airline industry we have been moving away from this," Leahey said.
"Now the pendulum is strongly swinging the other way and the focus will be on the managed form of capitalism," he said.
(Excerpt) Read more at news.yahoo.com ...
Is this Nancy's 'New Direction for America'?
He needs to hit the ground running. With the times we face, we can’t afford the time needed to train a President.
No problem. Most of the socialist policies are in place just really gotta move his stuff in and get a new puppy for the kids.
Don’t you just wish that pendulum would smack Leahy and knock him on his ass? (Figuratively speaking of course)
reversing some 30 years of deregulation.
yeah like Sarbanes Oxley, the EPA, ADA, OSHA, FDA, SEC...
“How can we screw the economy even more than Bush?”
This is the theme. Bush and McCain didn't challenge it. And now it's accepted.
UGH.
Obama is just a rubber stamp for Pelosi, Reid, Schumer, and Kennedy.
The Democrats have been in the pork barrel infrastructure business since the New Deal. While this doesn’t thrill me, I’m much more scared of the social agenda that may be pushed by Reid/Pelosi/Obama. The main restraint on outrageous legislation is the fact that 80 or so Democratic representatives have to run in districts that could be competitive in 2010. We need to recruit good candidates early and we need our remaining House delegation to be willing to raise heck often and loudly.
Yes. Their eyes have lit up like kids at Christmas, eager to open their new gifts.
I just had to do it.
Tis the season of Bling
St Obama draws nigh
If he had his way, we’d add something like a trillion bucks to the budget..
Will the 52% see the bait-and-switch?
“Obama to chart new economic path”
Behold the beginning of the 2nd Great Depression.
President Elect Obama's term of office starts in January 2009. That will be soon enough. He can wait in the wings getting all the briefings and naming his new team. If he has extra time available, he can plan his parade.
The United States has a current president. His name is President Bush. One president at a time.
Pssh, 200 billion? That takes what? Maybe a day to print up that money. Let’s get those presses really rolling Dems how about a trillion.
I say we dare them into a $2trillion stimulus, and have one last big blowout party before it all crashes down.
All signs point to the ZERO and his thugs making it happen.
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