Is MSNBC's Cramer Right?

Might Obama be wrong and "crazy" Jim Cramer be right?

I just read the response of MSNBC's Jim Cramer to Rush Limbaugh's assertion that he (Cramer) is on the White House "Enemies List". While is disagree with Limbaugh, I find that I agree with Cramer on some key points: the Stimulus Bill could have been more focused on infrastructure spending and included less "boutique" spending (good politics but bad stimulus), and I agree with his prescription for a cure to what ails us.

In short, Cramer criticizes the president's plan for taxing the rich - those who he says need to "spend and create new businesses" - and for cutting the deductions which are key to spurring more home sales. He also criticizes the plan for being full of "pork". Finally, he offers a plan to get us out of this recession:

• 4 percent mortgages for all mortgage holders - to get rid of what he calls the moral hazard of responsible homeowners purposefully tanking on their mortgages to bet better deals; and


• Cutting principle on overpriced real estate, offering certificates of equity for banks to make them whole once appreciation occurs.

While I could argue about Cramers points (I am not sure President Obama's stimulus plan is "full" of pork, but it definitely misses the mark in terms of what many mainstream economists might point to as truly 'stimulus' spending), I agree that more work needs to be done to get us out of this mess.

Read more at mainstreet.com.