In our post below, Hillary Clinton’s Big Giveaway – It’s A Wonderful Life, we explain how the Liberal New York Senator would establish a bailout system for people who are in a mortgage crunch by their own hand.

Not to be outdone Barack Hussein Obama has just released his “economic plan”, which is better called a “welfare scheme.”

Obama said Thursday in his most detailed speech on the economy, calling at the same time for a new $30 billion economic-stimulus plan aimed in part at helping struggling homeowners.

Obama’s plan calls for equipping the Federal Reserve with expanded oversight powers, strengthening banks’ capital requirements and streamlining regulatory supervision of financial institutions.

Mr. Obama’s call for stricter rules on Wall Street firms comes in the wake of the controversial bailout of Bear Stearns Cos. by the Federal Reserve, and continuing jitters about the U.S. credit markets. In his speech, he sharply criticized the Bush administration for “a generally scornful attitude toward oversight and enforcement.”

The nation’s economy “was bound to suffer a painful correction, and policy makers found themselves with fewer resources to deal with the consequences,” said the Illinois senator.

A lawyer discussing economics always fails to enlighten me, please excuse my arrogance. We’re wondering if Mr. Obama knows a thing about free markets, Adam Smith or capitalism.

Obama’s $30 billion plan consists of setting up a foreclosure-prevention fund, giving states $10 billion to head off cuts in services and expanding unemployment insurance. Mr. Obama is declaring he would micro-manage American lives and businesses from the Oval Office.

Treasury Secretary Henry Paulson continued to argue against more government intervention in the mortgage crisis, arguing that a cluster of ideas currently floating around would “cause more harm than good.”

Excuse us Mr. Paulson but Hillary Clinton supports a multi-billion dollar bailout and John McCain isn’t too far behind.

If it smells like welfare, walks like welfare, it must be a Liberal suggesting it. Imagine that, three Liberals running for the White House. Capitalism is in trouble and FDR would be proud. Indeed!