A call to Change

by Michael O. Allen on October 9, 2008

I don’t know this writer, Marc Ginsberg, but he had this post calling on Sen. Barack Obama to propose something big to tackle our nation’s economic malaise. I could not agree more. My friend, Todd Drew, and I have talked ourselves hoarse over just this topic.

I believe now is the time for Obama to consider a bolder and more historic approach to the financial crisis by presenting to middle income Americans a step-by-step “big think” FDR-style New Deal program to add greatness and urgency to his economic recovery plan. Tough times call for urgent and big-think measures. Surely, we are in this era, once again.

In 1933, Franklin Delano Roosevelt unveiled a landmark economic recovery plan that created a “New Deal” for America’s middle class and restored confidence to a hard-pressed nation. It was imaginative, bold and daring and lifted America up by its bootstraps and restored confidence and stability. It took several years, but it worked.

A similar type of “new deal” program aimed principally at the crux of our financial crisis — the falling U.S. housing market — is now urgently needed by our Democratic standard-bearer to create an indelibly understandable and comprehensive framework in the minds of voters that he has the most coherent and bold recovery program that gets at the very heart of what plunged our financial markets into chaos (aside from greedy Wall Street executives peddling credit default swaps, etc.) . Another financial infusion of funds to average Americans modeled after the last economic stimulus proposal may just be too insufficient to meet the emergency that will surely follow us well into 2009.

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Bryan Sells October 9, 2008 at 6:43 AM

Me too!

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