Obama needs to print dollars

That is the only way out. Print more dollars and weaken the almighty dollar. There is no point trying to tax the rich. Firstly you cannot simply tax them on their assets just for being rich.. You can only tax income. Most of these people have thier income tied up as carried interest in hedge funds. That is capital gain and not current income. The ceo's and other corporate highly talented people get paid in stock or options - again capital gain. So there is no easy way of getting these people to share.

So, there you have it. Banks will not lend and the rich will not share the tax burden plus they have their tea party puppets peddling trickle down economics in Congress. That is a perpetual stalemate. If this was a game of chess, you would simply resign at this point.

Anyway, printing dollars is the best way to redistribute. Inflation will make your worthless homes more expensive relative to the mortgages. Stocks will go up since prices are in Nominal dollars, so everyone's 401k will look a lot healthier. The dollar will weaken and make US goods more competitive. Saudi Arabia and China will lose the real value of their Treasury holdings - we will pause here to shed a tear for them. There you have done it - you screwed the banks on the mortgages, hedge fund managers on their billions stashed away in dollars and some other countries that you do not particularly care for. Sure grandpa's social security checks will be worth less but hey the current plan calls for throwing grandpa over the cliff anyway. This way will be somewhat slower.

So Obama, get your hands on that printing press...