It is so bloody frustrating to hear experts explaining the dire situation that our economy is in. They further stress that serious effort must be exerted now, immediately, without any delay. One cannot wait before the new administration takes over, because the deterioration progresses so rapidly that by mid-January the situation will be so much worse and therefore so much more difficult to revert or even to stop.
A couple of moths ago, when Treasury Secretary Paulson recommended providing $760 billion to rescue the economy, it appears that there were no concrete plans and therefore the Congress was not ready to sign a blank check. And even after the money was provided to the banks, CEOs and their assistants were having lavish conferences and making certain they would get their perks.
The strategy by Mr. Paulson is now being revised in how the money is to be used by banks, but that does not appear to improve the economy.
It must be said that the Bush team failed in all respects, except getting tax breaks for the rich, privatizing Medicare Part D and getting Mr. Gates as secretary of defense. Everything else is in shambles. A decent thing George W. could do is to resign, effective immediately and allow President-elect Obama and his team to take over. In fact, that would have happened under the British system. Such change would disrupt the inauguration ceremonies, but the nation would be saved.