Intellengence and good intention alone are not enough. Nobody knows everything. To run a country well, one need to rely on many experts. Obama happened to have chosen the wrong team on finance and economy.
His chief economic advisor, Lawrence Summers, left his post shortly before the midterm election in which Democrats suffered enormous loss, and returned to teaching. Good for Obama and Democrats but a bit too late. The damage has already been done to the country and the administration.
As an economist and former Harvard president, Summers is pathetic. He gave Obama all the wrong advices. Obama need to choose far-sighted and pro-Main Street experts/advisors in various field to help him devising and implementing policies that'll do US good for the long term.
Then it's the Congress. Like they say, the two party system has become one big spending party. Spending for the people would be nice. But instead, they spend people's hard earned money to almost unconditionally save and help the forever greedy and conniving banks/financial institutions aka Wall Street that had caused the biggest financial meltdown and economic disaster in US since the Great Depression era 80 years ago.
All the congressional panels and government appointed agencies responsible for regulating Wall Street have either been bought, controlled, influenced by Wall Street, or simply have been sleeping or incompetent.
Look at the share price of the world's biggest enterprise, the USA Inc. It has hit the lowest level since I can't remember when. Does US government issue shares? Sure it does, since day one. The Greenback.
One sad, pathetic scene.
I think all congressional members, business lobbying groups, and Wall Street CEOs, ought to be put in a spaceship and sent on a one way trip to the Moon.
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