Superb Forbes Article:Reverse The Fed's Monetary Practices (by Rep. Cathy McMorris Rodgers)

This hard-hitting article exposes the major flaws in the economic policy pursued by President Obama who between January 2009 and September 2010 has borrowed $2.6 trillion. Obama expects the government to borrow another $10 trillion over the next ten years. This is voodoo economics. The article also demolishes any justification for the Federal Reserve's monetary policies and provides a roadmap for economic regeneration. This should be compulsory reading for economic policy makers worldwide.
Here is an excerpt from the article which pulls no punches:

Its(The FED) easy money program enables the Obama Administration's spend-and-borrow addiction.

As a believer in the free enterprise system, I believe the best thing the federal government can do to spark our economic recovery is to create a favorable climate for small-business owners to expand and create jobs. Such a climate must include a lower tax burden, reasonable regulations, less public borrowing, open markets and a sound currency. For the past year and a half, the Obama administration has followed the opposite policies--going on a tax, spend and borrow binge of historic proportions--and the results, including the loss of three million private sector jobs, have been tragic.

But while the failure of President Obama's fiscal policies are evident and well-known, less attention has been paid to the failure of the Federal Reserve's monetary policies--specifically, its easy money program that enables the administration's spend-and-borrow addiction. I believe reversing the Fed's policy is essential to getting our economy back on track....Continue here