Reality Bites

Obama: Looking Back to Anticipate the Future

If you are really curious about who Obama will appoint as the Treasury Grand Poobah, look no further than the firms of Goldman Sachs, JP Morgan, and Citigroup. They collectively contributed over $2 million to his campaign. Goldman Sachs was the largest contrbutor at $874,207. You don't fork over that kind of coin without some kind of payback.

Secondly, none of FDR's New Deal plans pulled the U.S. out of the Depression. It just made everyone feel better. It gave them hope. But hope doesn't put food in the belly or gas in the car. Unfortunately, the only thing that revived industry back then was WWII. I hope that doesn't turn out to be the solution for today's economy.