"Given the gravity of this situation, and based on conversations I have had with both Secretary Paulson and Chairman Bernanke, I have asked my economic team to refrain from presenting a more detailed blue-print of how an immediate plan might be structured until the Treasury and the Federal Reserve have had an opportunity to present their proposal." So says Barack Obama about the upset in the financial markets.
Amazing, isn't it? Obama has gone through this entire campaign without giving details on essentially any economic programs other than his tax plan -- and that tax plan has been changed so often that no one could truly know what Obama's "plan" consists of. The truth is that Obama himself does not know. Now, he has a new strategy: As a statesman, he is putting himself above politics as usual. We are to elect him without knowing what he would do. For myself, I still like Reagan's old Russian proverb, "Trust, but verify." Until Obama comes forward with some details, I have to assume that he has no idea what to do.
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