One quick exchange happened during yesterday's presidential debate wherein Senator Barak Obama revealed his understanding of the nation's economy.  Many missed it.Here's what he said, "But understand this: We also have to look at where some of our tax revenues are going. So when Sen. McCain proposes a $300 billion tax cut, a continuation not only of the Bush tax cuts, but an additional $200 billion that he's going to give to big corporations, including big oil companies, $4 billion worth, that's money out of the system.  And so we've got to prioritize both our spending side and our tax policies to make sure that they're working for you. That's what I'm going to do as president of the United States.""The system."  What is this system to which Senator Obama referred?This system is the federal government's budget -- the hub of Obama's American economy - the center of the nation's financial universe -- the core of the American enterprise.  It's...(Read Full Post)