How can Obama fix the economy?
1. He has to put strings on money given to financial institutions so that taxpayers get a decent return on investment and so that the money actually unfreezes credit. [Treasury Secretary Henry] Paulson has given away $125 billion to nine banks with no strings. Paulson's course further concentrates the financial industry, thus making the system even less stable, and does nothing to free up credit.
2. We have to have a green jobs program. Train people who face unemployment to perform green jobs that can't be exported, such as weatherizing public buildings. The new jobs should focus on mass transit, energy research, and energy conservation. This kills many birds with one stone: Pollution and global warming are reduced, national security is improved to the extent that we import less oil, people have jobs, and we move toward a more efficient and cleaner future.
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