Barack Obama came out with a grab-bag of expensive, yet timid proposals to respond to the economic crisis. Minor and temporary tax breaks (without altering his plans to hike payroll and income taxes on the “rich”), a copycat proposal mirroring John McCain’s proposed relief for 401K withdrawals, a reversal of his prior opposition to a foreclosure moratorium and a new entity to lend money –to other governmental entities. That’s it? What about significant help for private sector job creation? Not there. What about a promise to increase trade which has kept the economy afloat? Nope. What about some recognition that corporate tax rates are uncompetitive? No way. It is all surprisingly meek and ineffectual, showing an underlying lack of confidence in the private sector as the engine of growth.

It may be that the McCain camp is finally willing to put forth a bold alternative to pull us out of a recession and spur growth. We will find out more today, and at Wednesday’s debate, on whether this is one opportunity which McCain won’t miss.