Obama's Economic Plan

Barack Obama recently spoke at George Mason University, and economist Pete Boettke sums up what he said:

Don't blame his administration for the economic situation and don't even blame his administration for the economic situation 3 years from now because the situation is that dire caused by the "do nothingism" philosophy of old ideas on the economy and government. Government must be an active player in the economy, and seen as the corrective to our social ills. We have sunk into such a deep hole, in fact, that ONLY government can get us out. If our economic situation is anything other than grave in the coming years it will be because of the bold and pro-active steps his administration will have taken. All praise go to the articulate and intelligent leader. Who, let me remind you, is pragmatic and open to discussion, but you better get onboard quickly with these policy initiatives or we are going to be in a living hell.