Richardson to Be Commerce Secretary, Larry Summers to NEC

Well, I guess the payback is in place for Bill Richardson's betrayal of the Clinton's during the primary.

Obama has announced Bill Richardson to be Commerce Secretary.

What kind of expertise does Governor and failed Presidential candidate Richardson have to be Commerce Secretary?

Here are a series of position statements and while the country is in terrible trouble, Richardson is known to push for more guest worker Visas, which displace US workers, complete open borders towards illegal immigration and endorses NAFTA and the WTO.

So Much for Trade Reform From Obama, or Maybe Just Media Story Plants

We now see reports that any trade reforms around NAFTA will be delayed by an Obama administration, due to the Economy.

After he becomes president in January, Obama will order a study on the world's largest trade agreement, then seek longer- term negotiations with Mexico and Canada on how to change it, according to three advisers, who spoke on condition that they not be identified. The recession, the collapsing auto industry, a record trade deficit with China and other issues are pushing Nafta aside, analysts and industry representatives said.

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.

Google is now an Economic Adviser? Pres-Elect Obama Has a Meeting

Tell me this is not payback. Google pushed Obama from early on, literally had Obama giving speeches to a captive audience, their own employees and raised millions (cough, cough) for his campaign.

From the Obama meets with Economic advisers, we have the list including:

Assembled to offer wide-ranging advice, the group of 17 includes Mr. Summers and his predecessor as Treasury secretary, Robert E. Rubin; Paul A. Volcker, a former Federal Reserve chairman, and Eric E. Schmidt, the chief executive of Google. The billionaire investor Warren Buffett is to attend by speakerphone.

Obama Channels Clinton on Economic Plans

Obama is releasing new plans on the economy and one is to have a foreclosure freeze.

He also wants to give a $3000 dollar tax credit to every job created in the United States and of course that question begs to ask are those jobs required to go to US citizens and Green Card holders or can corporations import their foreign cheaper labor?

Democrat Barack Obama is proposing lifting penalties for withdrawals of up to $10,000 from retirement accounts and imposing a 90-day moratorium on foreclosures on some homeowners as part of a plan to boost the economy and aid middle-income taxpayers.

Obama also wants the Federal Reserve and Treasury to lend money to state and municipal governments that are have having trouble raising money and for federal lawmakers to ``keep all options open'' to help struggling automakers.

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.

I told you so

Well, I'm not alone here refusing to believe that Obama is a Progressive, look at what The Nation's Naomi Klein has to say.

All I can say is I hope all of those disenfranchised Hillary voters swearing to vote McCain put their rage to good use and start demanding one of these candidates start adopting policy that is actually good for the nation and working America.