Atlantis Alumni

Monday, November 10, 2008

After Obama's Inauguration

It appears as though President Obama will be focusing on the economy after his inauguration. He favors another stimulus package, which Bush opposes. Krugman offers the following advice:

My advice to the Obama people is to figure out how much help they think the
economy needs, then add 50 percent. It’s much better, in a depressed economy, to
err on the side of too much stimulus than on the side of too little.

Today the current administration announced additional bailout money for insurance giant AIG, bringing the total to $150 Billion. Bush & Co. have no problem bailing out big business but they oppose helping average Americans. So what else is new?

Will we bail out the automakers? Obama favors it, while the Republicans seem not too interested. I guess they wouldn't mind the loss of so many union jobs.

Will Obama tackle the health care crisis early on? There are two theories of how he should proceed: the "big bang" approach that addresses the economy, health care, and other issues; or the incremental approach. Many pundits feel that Obama is cautious by nature and that he will proceed slowly. We'll see.


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