The Homa Files

Excerpted from IBD, ” Friendly Fire Shows Obama Losing Focus”, Barone, March 13, 2009

Driven by Rahm Emanuel’s advice to “never let a serious crisis go to waste”,  Pres. Obama continues to assert that we can solve our economic problems only by advancing national health insurance, a cap-and-trade system to reduce greenhouse gases, and the end of secret ballots in unionization elections.

But, none of the issues … was in any way a cause of the financial crisis.

We did not have a housing bubble collapse because we don’t have a national health insurance program.

We don’t have toxic waste clogging the balance sheets of the banks and other financial institutions because of carbon emissions.

The Bush tax cuts were not a proximate cause of the giant public debt being run up under the Toxic Assets Relief Program or the 2009 stimulus package.

Perhaps the President should heed Warren Buffett’s advice  to “pay attention to the first thing on your platter : the financial crisis”.

Full column: 
http://www.ibdeditorials.com/IBDArticles.aspx?id=321836253252674 

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This entry was posted on March 17, 2009 at 6:54 am and is filed under Financial Crisis, Obama - Promises Made & Kept, Obama Administration. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.