With the enormous task of cleaning up after the Bush Bad News Bears is the Obama Economic Team.
Monday President-Elect Barack Obama said that the country is facing an “economic crisis of historic proportions,” as he unveiled the economic team. He sought leaders who share his fundamental belief that “we cannot have a thriving Wall Street without a thriving Main Street.”
So who’s on the new economic clean-up team?
- Secretary of Commerce Bill Richardson
- Secretary of Treasury Timothy Geithner
- National Economic Chief Larry Summers
- Council of Economic Adviser Chair Christina Romer
- Domestic Policy Council Director Melody Barnes
- Domestic Policy Council Deputy Directory Heather Higginbottom
President-Elect Obama said, “We have to make sure that the stimulus is significant enough that it really gives a jolt to the economy,” he said. “We are going to do what’s required to jolt this economy back into shape.”
The daunting task of cleaning up after the Bush Keg Party on the economy is one that has to be a bit overwhelming. Since the $700 Billion Bailout we’ve seen a steady stream of posh CEOs of major corporations come to Washington on their penthouse rooftops begging for the government to rescue them from the rising flood of debt caused by the levee breach of poor management and bad executive decisions.
And who will ultimately have to pay?
You guessed it, the workers. Citi is pretty much the same size as GM. Of course we can take Mitt Romney’s advice and let them fail, but what about the workers. The millions of jobs that would be lost in the process, what happens to them? Where’s their bailout?
These Corporate Poverty Pimps want Congress to act as their “bottom girl”. The bottom girl keeps their business afloat while the pimp is in trouble. Now I’m not calling any specific member of congress a prostitute, but these guys are trying to pimp you, because you got something attractive to them, money.
What’s amazing is how these guys can fly in on their private jets in their over-priced suits; spend bailout money on vacations and spa treatments while Betty the Administrative Assistant or Michelle the Customer Relations Manager has to work at Wal-Mart part-time so her children can have a decent Christmas. The guy working at the auto assembly plant is forced to decide which bill to skip this month so there’s food in the house. Where’s their bailout?
I understand Mitt Romney’s point on allowing these companies to file bankruptcy and restructure, only if it wouldn’t affect so many people. Allowing Citi, GM, Ford, Chrysler, AIG, etc to go bankrupt would endanger too many families and place millions of workers at risk of eventually being out on the street.
Obama, Biden and the economic team have a big heaping pile of crap to clean-up after the failures of the Bush Administration. I don’t know how they can manage to do it, but it appears he’s assembling the economic equivalent of a championship team. After losing on every front for eight (8) years in a row the American people need a group of people who has their interest in mind.
Maybe I need to take a trip to Washington to ask Congress for a bailout. I don’t need that much. Good luck to the economic team being assembled.
Topic Influence References:
CNN – 11/24/08 “Obama Rolls Out Economic Team”
MSNBC – 11/24/08 “Obama warns economy likely to get worse”
The Guardian – 11/24/08 “Barack Obama’s Economic Advisers”