Obama Interview on Economy

Below is the President-Elect Obama 60 Minute Interview.

From the transcripts Obama is pretty much backing Hank Paulson even though the interviewer tried to point out the $300 Billion hasn't done much.

Kroft: Are you in sync with Secretary Paulson in terms of how the $700 billion is being used?

Mr. Obama: Well, look, Hank Paulson has worked tirelessly under some very difficult circumstances. We've got an unprecedented crisis, or at least something that we have not seen since the Great Depression. And I think Hank would be the first one to acknowledge that probably not everything that's been done has worked the way he had hoped it would work. But I'm less interested in looking backwards than I am in looking forwards.

Kroft: The government has spent almost $300 billion out of the TARP program.

Mr. Obama: Right.

Instadiscussion John McCain - One Proposal I noticed

I was rereading policy positions again between Obama and McCain.

Is anyone else really sick of hearing rhetoric and problem description instead of proposals and the justifications of why they would work?

Anyway, I came across this in McCain's Plan:

John McCain Will Establish Permanent Tax Credit Equal To 10 Percent Of Wages Spent On R&D. This reform will simplify the tax code, reward activity in the U.S., and make us more competitive with other countries. A permanent credit will provide an incentive to innovate and remove uncertainty. At a time when our companies need to be more competitive, we need to provide a permanent incentive to innovate, and remove the uncertainty now hanging over businesses as they make R&D investment decisions

Where Obama Stands on the Economy or Doesn't

There is a new article out from the New York Times overviewing Obama's economic policy views and details.

It is not calling cash on Obama to get with it on economic policy changes America sorely needs. Matter of fact the article doesn't even report on the hundreds of economists who will show you statistics, details on just wrong headed many of these policy positions are, especially on trade. Seemingly a large deficit doesn't seem to count to the New York Times in terms of referencing credible economists.

That said, this is one hell of an article. It goes through the details of how we can expect basically more free market Chicago school or "business friendly" economic policy.