Pat Dollard

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The New York Post:

At least President Obama knows the economy has problems. He’s spoken of a “financial crisis,” a “housing crisis,” a “credit crisis” – you name it.

So he earns points for recognizing the ills that plague us. Too bad he isn’t doing much about them.

Sure, the administration’s housing program promises to keep more Americans in their homes – but it cannibalizes the troubled financial industry to do so.

It’s clear that TARP won’t solve the toxic-assets problem. Maybe Team Obama just prefers to let the financial sector remain one big Superfund site?

No strategy has emerged to bring financial regulations into the 21st century.

And the plan for recidivist beggars like AIG and General Motors is to throw more of your tax money at them.

All this as reports surface that Treasury Secretary Tim Geithner has yet to hire a single deputy – leaving Treasury virtually paralyzed during a major recession.

But instead of cleaning up the mess, Obama has wholly invested himself in a massive scheme to remake the Republic. In the name of “economic recovery,” he’s laboring to nationalize health care and education, and plowing megabillions into the flimsy promise of “green” energy.

Now, if the evaporation of trillions of dollars of wealth had been caused by a shortage of solar panels, or lack of a universal-health-care card, he might be right to do so.

So let’s be clear: His priorities are seriously misplaced – an observation that’s starting to get some traction.

Clearly that was the verdict yesterday from columnists Paul Krugman, Steve Forbes and Charles Krauthammer. When those three agree, it’s time to pay heed.

And pay attention Obama should.

One wake-up call came yesterday, as the government announced that more than 650,000 jobs disappeared in February – the first full month of the age of Obama.

And the Dow has made like an Acapulco cliff diver since Inauguration Day, plummeting more than 1,650 points – nearly 650 of them since the president unveiled the budget he says will solve everything.

This week, a share of Citigroup – worth $55 just 22 months ago – was a better fit for the McDonald’s Dollar Menu than the New York Stock Exchange.

The fact that no one’s buying up these deals means investors are weighing rock-bottom stock prices against the next few years’ economic prospects – and still aren’t convinced they can turn a profit.

Not exactly a stunning endorsement of Obama’s long-term plans for recovery.

Obama is famous for his discipline – and it’s time for him to show some.

Sure, the opportunity to turn America into Europe is appealing enough to put dollar signs in the eyes of any Democrat. But the president needs to ignore the distractions, and start making the fixes America’s economy really needs.

After all, Obama was one of the few Americans to get a new job in recent months. Those who hired him expect him to buckle down and do it.