Jim Cramer (CNBC-TV) presented his 3-step program last night for economic recovery.

He said that tax cuts don't work for the mass of citizens. They do for the Wall Street old boy crowd, but not for you and me. All they do is exacerbate the deficit, because when your income is down you don't ask for a pay cut.

He said there is a way to improve the economy and save the nation by:

1. Creating a Mortgage Resolution Trust
2. Eliminating ethanol as an energy source
3. Replacing oil and coal with natural gas as the primary source of electrical power

Examine these points, because for once Cramer is bang on!

1. Float a large bond issue to raise 300B in capital and create a Mortgage Resolution Trust. Then use the new capital to buy all the risky mortgages from the banks at 70 cents on the dollar. The banks will gladly sell the paper to get out from under the failures. The Trust will collect the mortgage payments and use the proceeds to pay off the bonds. Win-win. Only the dumb banks lose, and they will still remain afloat.

2. Eliminate the ethanol scam. It is a scam! They are going to use 30 percent of our corn food production to replace 3 percent of our gasoline! Dumb idea, because it is the primary reason our food prices have skyrocketed! Corn is used to feed livestock and chickens. Corn and corn syrup are a basic commodity in our food chain. Win! Our food prices will take a 40 percent cut.

3. We have enough natural gas in the USA to power every electric plant for hundreds of years. Natural gas is a clean, less-polluting fuel. There have been large finds of it in our country over the past few decades. It isn't being used. Listen to T. Boone Pickens. He is a Texas oil man who has embarked on a crusade to develop and use NG. Some vehicles operate on NG, and more need to be produced! Converting coal and oil burning electric generating plants to NG will not be a major difficulty. The USA is the Saudi Arabia of natural Gas. We have more than can be found in most other continents!

If I were dictator, Cramer would be my energy secretary, with his sound effects and all!