"The Common Sense Fix" to the Financial Meltdown Mess

I'm kind of a big fan of Dave Ramsey because he's about getting out of debt and staying out of debt. It's amazing what kind of freedom and stress relief not having the wolf at the door provides. Anyway, he has this "Common Sense Fix" which you can read (it's a quick one pager!) you can read here -- The Common Sense Fix

If you're on Facebook you can see Dave Ramsey's Three Steps to Change the Nation's Future

If you're just surfing the web, you can read it ...Here

Maybe someone can tell me what's wrong (or right) with this approach.