Tuesday, February 10, 2009

What is Going On?

Tim Geithner has outlined a plan that will seek 2 TRILLION dollars from the Federal Reserve, the Treasury and private investors. The new Treasury secretary has promised the American public more transparency and an increase in accountability from companies accepting money from the plan. These pledges of openness and accountability are great...if they work- if someone does notice a problem with the bill, will their voice even be heard in time before the damage is done?

The situation just seems to be getting more chaotic by the minute. There are just too many opinions: President Obama, House Republicans, House Democrats, Senate Republicans, Senate Democrats, House Centrists, Senate Centrists, Tim Geithner, David Axelrod...should I go on? The formal study of economics can not definitively predict the outcome of variable stimuli, and so people are butting heads with their individual beliefs of what may work to get people spending.

Both of my points lead to one lamentable fact: our heavily bureaucratic bureaucracy is too bureaucratic. Whose voice should be heard? Pick one and move on...I'll go with Geithner (who has the right background to make the decision and also since his "plan was fashioned after a spirited internal debate that pitted Mr. Geithner against some of the president’s top political hands." Bureaucracy works if there is a strong leader at the top of the hierarchy to rally the ranks).

No comments: