He's going to do better than McCain would've -- Republicans always crash the economy, though for some reason everyone thinks they do better.
If he brings back the Glass-Steagel (sp?) act, that'll prevent this from happening again, and he might just do that.
But the financial sector needs heavy regulation and there needs to be more money going to the middle and lower classes in the form of social programs -- not just tax cuts. Obama talks a good game, but he's very, very close to a lot of major corporations to push hard on that.
On the other hand, he's taking aim at trickledown economics, and at NAFTA -- a deal that's only been good for the rich in Canada and the US, and terrible for the poor.
If he starts trying to restore FDR's New Deal, it'll infuriate the powers-that-be, but that's the way to start changing things for the better for ordinary people.
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regna
(no subject)
Date: 2008-11-07 06:57 pm (UTC)If he brings back the Glass-Steagel (sp?) act, that'll prevent this from happening again, and he might just do that.
But the financial sector needs heavy regulation and there needs to be more money going to the middle and lower classes in the form of social programs -- not just tax cuts. Obama talks a good game, but he's very, very close to a lot of major corporations to push hard on that.
On the other hand, he's taking aim at trickledown economics, and at NAFTA -- a deal that's only been good for the rich in Canada and the US, and terrible for the poor.
If he starts trying to restore FDR's New Deal, it'll infuriate the powers-that-be, but that's the way to start changing things for the better for ordinary people.