Obama Administration Has No Clue How to Handle Financial Crisis

Recent news on Obama, Biden plans for economy leave much for worrying about.

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By Bonnie Erbe, Thomas Jefferson Street blog.

Why does this give me no confidence?

The following piece in today's Washington Post signals to me that nobody in the Obama administration

has figured out what to do about the current economic crisis. The markets clearly have not been calmed, sinking as they continue to do. Washington politicians call for bipartisan commissions to study problems and recommend solutions when issues are either so hot the politicians themselves don't want to touch them, or they don't know what to do about them. Listen up, changelings, you wanted change and you got it. Now we're all having to suffer through its result:

President Obama and Vice President Biden plan to convene a White House "fiscal responsibility" summit Monday afternoon to launch a national conversation on how to put the nation on sounder financial footing.

The administration is still finalizing a guest list of more than 100 participants—a mix of Democratic and Republican lawmakers, economists, policy specialists and special interest group representatives.The three-hour, high-level gabfest, which will be open to press, begins in the State Dining Room with remarks by Obama and Biden. Participants will then be divided into five breakout sessions, before a wrap-up by the president.

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