President-elect Obama is meeting the current economic crisis with a plan right out of the 1930s. He is planning to spend who knows how much on large public works projects -- this time with a green focus, but just as massive as the TVA and the rest of the new deal from FDR.
I agree with Mark Cuban's take on the Obama economic team -- it is the wrong people taking us the wrong way. Read his post on this here.
More on this to come....
For now I have to catch a plane to Minneapolis to give a talk on our new book.
The fact that President Elect Obama does not have an entrepreneur in his economic team is certainly something to worry about. Small businesses are already threatened by many of the initiatives set forth by the PE and lacking entrepreneurship representation in the advisory team will only accentuate this threat further.
Is anything being done to protest against this? Is there anything that the entrepreneurial community can do to protect itself?
I think a lot of people disagree with you on this particular subject.
Dr. Cornwall, I completely agree with you on this point. Personally, I am in awe that the government is still spending at such alarming rates. It will be interesting to see where the next four years take us. Your post reminded me of a Ron Paul article I was reading about the President-Elect and Paul's hopes for the future:
"We will face more tough economic problems during this new administration. In fact, the worst is yet to come. A vast amount of problematic mortgages have not begun to reset their variable interest rates and go into default. We already have unprecedented deficits, spending is out of control, and more big industries are coming to government with their hands out. My hope is that this administration will handle this economic crisis better than the interventionists and big government spenders of the 1930’s, the bureaucrats that prolonged the Depression. I hope that new government programs and spiderwebs of red tape do not pop up to interfere with American productivity, and that we can quickly get our financial footing again. We have to understand that an economic correction needs to take place and the only way out of the coming recession is to go through it. Efforts to avoid it can only prolong it. I hope we can somehow find our way back to sound money and reject corporate cronyism." -Ron Paul (campaignforliberty.com)
He has high hopes, unfortunately it doesn't look like the P-E is thinking in the same terms.