You're correct. Ignore the Milton Friedman wannabes on here who are too blind to recognize that their great experiment in laissez-faire, trickle down, supply side economics failed miserably and nearly bankrupted the nation.
A consumption tax right now is exactly the wrong thing to do. Over the last eight years we've had too much supply side economics and the economy is unbalanced. We're starved for demand. The middle class is reeling with unemployment and underemployment. The only way to rekindle demand at the middle class level is through Keynesian stimulation, through trickle-up measures that include jobs, mortgage assistance and health care. Obama is on the right track, thank God he was elected.