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My son, only four years old, recently declared with formal conviction that he has a best friend. This came as no surprise to me since he has known his pal, we’ll call him Sam, since they were both only weeks old. In those fast four years Sam’s family moved down the street from us (a lucky coincidence), the boys now attend the same preschool and our two growing families have dinner together at least once a week.

What my son doesn’t know is that there is a chance his best friend’s family may have to move out of the area because his dad may be laid off.  Sam’s dad is an investment banker – a good one, I’m sure. The problem, though, is that with many other firm’s rumored layoffs, there will lots of good bankers out there looking for jobs, maybe even his. He’s rightfully concerned. 

Equal to or greater than anything else this election season, I am deeply concerned about the economy, even more so than I was post 9/11. Then, we were the victims and we did as we were told: “Go about your business. Don’t let them feel like they’ve won.” Now, there’s no one to blame but ourselves.

To me, it seems trickle down economics has been hard at work, unsuccessfully. Deregulation has proven it’s not all it’s cracked up to be. As a result, people are struggling to fill their gas tanks and buy groceries. Foreclosures continue. What’s next? With the holidays around the corner, consumers are going to spend less, which means retail profits will decline. Borrowing will seize. The spiral will continue.  

Absolutely, we need to put a floor on this financial downward slide, but let us not forget this $1 trillion bailout money will be added to the deficit that our children will have to pay for, one way or another.  So let’s make it meaningful. This bailout needs to protect working families, limit greedy executive bonuses, and most importantly put in place measures to help ensure this can never happen again.

Candidates are now pointing fingers declaring the other is not aptly suited to handle this financial meltdown. Come on, guys. We know neither of you are financial gurus to handle this on your own, nor do we expect you to do so. Sure, get Warren Buffet in there to help. What about Alan Greenspan? Paul Volcker, former chairman of the Federal Reserve? Bill Clinton has some good recommendations, I'm sure. McCain and Obama, announce now who is on your short list for treasure secretaries so we can hear what their recommendations are.

Although the first debate this Friday will be focused on foreign policy and national security, I’ll be watching intently to see how the candidates address the state of the economy. Candidates: I don’t want finger pointing. I want clear solutions. Media: I don’t want you to let these guys off the hook. I want an honest scorecard of how they did. Educate (don’t brainwash) your viewers/readers so that we, in turn, can make an educated choice this November.

There is so much at stake, including two four year olds’ friendship.