President-elect Barack Obama named his top economic team who may not save the day Mighty Mouse-style, but will hopefully rescue our economy from complete catastrophe.
Obama:
Even as we face great economic challenges, we know that great opportunity is at hand - if we act swiftly and boldly. That's the mission our economic team will take on...Our financial markets are under stress. While we can't underestimate the challenges we face, we also can't underestimate our capacity to overcome them.Since the $700 billion bailout was announced, I was in favor of putting people in charge who knew about the economy, not about the government. Why put senators in charge of the economy and not someone like Bill Gates? He seems to know how to manage his money well.
Okay, maybe not Bill Gates, but someone who knows a little bit about money.
Obama named Timothy Geithner, the president of the New York Federal Reserve, to be the next US treasury secretary and oversee the bailout plan. Now, that’s what I’m talking about. The New York Federal Reserve is the largest and most important regional federal reserve bank and who’s in charge of it? Our new US treasury secretary.
Obama said Geithner would offer "an unparalleled understanding of our current economic crisis, in all of its depth, complexity and urgency".
The top priority for Obama is to create 2.5 million new jobs by 2011 to help stimulate the economy. Some of these new jobs will put people to work building wind farms, solar panels and fuel-efficient cars.
This is a phenomenal plan: our economy goes to the crapper and we build it back better than before. If we move the US toward a more energy independent lifestyle while fixing the economy, we can break free of the hold the Middle East has on us in terms of oil and become more powerful in our own right.
This makes me happier than Hillary in a pantsuit.
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