Sunday, August 30, 2009

Obama's biggest mistakes, (aside from not wanting to prosecute Bush Administration criminals or disown the AfPak war).

Trying to do health care reform at the same time as dealing with the threat of a potential new depression was a grave mistake. Even granting that health care reform could have major economic benefits those only develop over the LONG term. The economic crisis demands, for now, a short term focus. Complicating the situation with health care reform only confuses and scares the public and makes effective short term measures harder to justify and implement.

Also Obama's economic rescue program paid way too much attention to Wall Street and not nearly enough to Main Street. We have missed a chance to liquidate normally "too big to fail" financial Tyrannosaurs too clever by half in derivatives flimflam and delayed the evolutionary advance to smaller, more economically useful investing institutions.

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