When it comes to policy, sounds like Barack Obama should stick with "hope," "dreams," and other vacuities. Here’s Prof. Boudreaux on the latest in crackpot economics:
Barack Obama proposes to deal with rising gasoline prices by giving a
$1,000 "emergency rebate" to consumers – a rebate to be paid for by
taxing the so-called "windfall profits" of oil producers.
In other words, a critical part of Sen. Obama’s strategy for reigning
in high gasoline prices is to subsidize gasoline consumption and more
heavily tax its production. This plan makes as much sense as trying to
put out a fire by dowsing it with jet fuel.