The Big Bang

President-elect Obama signaled his intention to engage in "Big Bang" economics theory which combines a short-term stimulus with large public investments to raise the longer-term growth rate.

A major concern should be that we have not yet seen the effect of the initial federal bailout plan. These policies require time and further study to ensure they are working as planned.

But before we can witness the bailout's full outcome, Barack Obama wants to write another check.

These plans are a direct result of his decisive electoral win. John Podesta, Obama's transition chief said "I think that he feels like he has a real mandate for change. We need to get off the course that the Bush administration has set."

This is dangerous thinking. We need to see the big picture of our current economic state before more taxpayer dollars are sent to the private sector.

According to The Financial Times, Economists have estimated the United States budget deficit could more than double next year to almost $1 trillion. This is not including Obama's campaign pledge to spend $150 billion researching alternative energy or his gargantuan plan of universal health care.

You would think with all the Clinton loyalists Obama is bringing into his administration, one would mention arguably the greatest achievement of their old boss: deficit reduction.

As Dick Morris, a lifelong Democrat, said this morning on "Fox and Friends"-

"This is simply the Clinton administration but without the Clintons".