As the former Professor I am, it is hard to resist grading the candidates on their economics proposals. As a former math major, then an econ major, at the University of Michigan in the '60s, I do have a grounding in the theoretical macro-economics that these candidates are clearly struggling to master.
I have already graded John McCain's plan, which impressed me in many ways, but yielded only a 2.33. A C+.
Now on to Senator Obama.
As near as I can determine, his proposals revolve around:
* Suspending the tax on unemployment benefits as well as extending benefits (A).
* Allowing people to withdraw up to 10,000 dollars from their retirement accounts without any penalty this year and next (A).
* A 90-day moratorium on home foreclosures at some banks (C).
* A two-year tax break for businesses that create new jobs (C).
The main problem with his plan is that it is too thin. It does not address other aspects of the financial crisis we are experiencing. McCain at least tried to propose some measures beyond the easy stuff. Is Obama resisting doing so because he has the lead?
So, I have to add an (F) to Obama's plan for lack of attention to relevant detail.
So, his GPA comes out at 2.40, also a C+, but barely ahead of McCain. In short, I am disappointed with both candidates. At a moment when we need specifics, they are only delivering politically safe ideas.
That doesn't make it in this Professor's class, sorry. Both candidates should be ashamed of themselves. We do not need more C+ students in America. We've been living under one of those these past eight years, and it doesn't take an econ major to tell you that the result has been a disaster.
Whoever is our next President, I hope he rises above these levels. And before I vote on Nov. 4th, I hope one of these candidates delivers a more robust plan.
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