By Theresa Schmidt
He's an economist who graduated from Harvard. And former Governor Buddy Roemer says he would like Barack Obama to succeed. But Roemer says the economic stimulus plan as proposed is going to be a long term hurt for America.
Those struggling because of the economy would like to think the president's economic stimulus package is going to bring relief. But Roemer says he's read the stimulus plan and he says the president is making a mistake. "He needs to pass it now. He's feeling that tension. We're going to financial hell in a hand basket. But he's making a mistake. This bill is way too big. It's way too unfocused, it takes far too long for it to happen. It's long term hurt for America. We will have to undo everything the president is about to do."
Roemer told members of the Republican round table he's never seen a bigger disgrace than the economic stimulus plan. "He's never read it either. It's obvious. You saw his press conference last week. Didn't have a clue what was in the bill. He said the next day his treasury secretary was going to talk about round two of bank bailouts. That's what we need, more bank bailouts. And the president didn't have a clue. 'well, we'll have to wait 'til tomorrow and see what he says.' I'm thinking', who's in charge here?"
Roemer says less than six per cent goes for infrastructure. "Infrastructure expenditure, focused and targeted on real projects that can have work begun on within six months is where we ought to emphasize our money. Here's what you get from those. You get short term jobs and long term benefits. Wow, how about that for an idea."
Roemer also shared his thoughts on Louisiana's future saying he's optimistic about the state for one reason because it's at the heart of the Gulf South region with its access to water and natural gas. "The area with the greatest prospects over the next 25 years is the Gulf South."
He says the region is undervalued economically which translates into opportunity. The bank Roemer started in Louisiana represents a $50 million investment in the economy. He says they were the first to say no thanks to the government's bank bail out money.