I thought for a moment I'd missed something. I'd expected last night's third and final presidential debate to include at least one question about the second bank bailout plan put forward by Treasury Secretary Hank Paulson just the day before. Silly me! The three guys at the table at Hofstra University last night had other things to discuss. They had to talk about Joe the Plumber!
He's this guy, you see, who Obama met on the campaign trail. They talked about his desire to buy the business he'd been working for. Joe the Plumber favors John McCain's tax proposal. Maybe that's why McCain brought him up several times. After the first time, when he mispronounced his name, he simply became Joe the Plumber, like he's a mob guy or something (PS- the plumbers union has endorsed Obama).
Anyhow, here's a short list of McCain gaffes last night, courtesy, in part, of ThinkProgress.org. Keep in mind this isn't all of them, just some of the more obvious, in no particular order.
1) He called the idea of equal pay for equal work for women "A trial lawyers' dream".
2) He slammed Obama for voting present on several bills before the Illinois legislature. He, of course, has been absent from the US Senate 64% of the time in the past year.
3) McCain mentioned more than once Sarah Palin's son's autism. Actually, the boy has Down Syndrome (my 11 year old picked up on that one before I did)
4) McCain accused Obama of voting against the confirmations of justices Roberts and Breyer to the Supreme Court. I guess one out of two isn't bad. Breyer was nominated by President Bill Clinton more than a decade before Obama made it to the Senate. Earth to McCain: You meant Alito
.
5) McCain asserted the average health care plan costs Americans $5800 a year. The actual cost is $12,680. Obama got that one right.
6) McCain said he'd use a line item veto to cut spending. Sorry, it was declared unconstitutional a decade ago.
7) McCain said he'd condemned every out of bounds remark Made by Republicans about Obama. He must have forgotten the statement made by the chair of the Virginia GOP that compared Obama to bin Laden. That one he didn't condemn.
And so, the debate season is done. Except, of course, for the 24 hour news outlets, which will still be talking about it through at least Friday. Oh yeah, and the students and alumni of Hofstra University, where the debate was held.
They get to hold their heads up high.
Thursday, October 16, 2008
Wednesday, October 15, 2008
The Last Debate- It All Comes Down to This
By most media accounts, John McCain will have to hit some kind of home run to turn the tables on Barack Obama in tonight's final presidential debate. Obama has brought together his domestic advisors a day early to prepare. McCain and his handlers face a difficult choice and a difficult task. Does he continue the personal attacks that recent polling says isn't working? Or does he face down Obama squarely on the economy, where it's presumed the Democratic nominee has an edge?
McCain did in fact offer his own economic prescription for the nation's woes on Tuesday. It promptly got foreshadowed by the announcement the government is injecting $250 billion dollars into the coffers of the nation's banks. Expect at least one question about whether the candidates agree with Treasury Secretary Hank Paulson's move in that regard. Most important for both, however, is not to act as though they don't really understand the economic moves Uncle Sam is currently making.
Even though McCain needs a game changer, don't expect too many fireworks at this last encounter. McCain will likely say Obama's economic proposals will raise taxes, and Obama will counter that he's got an online calculator that compares the plans of both candidates for voters to decide for themselves. McCain will say elements of Obama's latest economic proposal are dangerous to the economy, and Obama will respond in kind.
Yet here, in a nutshell, is John McCain's biggest problem. How can he attack Obama as a tax and spend liberal when the administration in power, that of his own party, has spent like drunken sailors on two wars, and now an economic bailout that could cost in the trillions? And he signed off on it, remember? Those earlier words about the economy not being his strong suit now come back to haunt.
Or does he think people forgot?
McCain did in fact offer his own economic prescription for the nation's woes on Tuesday. It promptly got foreshadowed by the announcement the government is injecting $250 billion dollars into the coffers of the nation's banks. Expect at least one question about whether the candidates agree with Treasury Secretary Hank Paulson's move in that regard. Most important for both, however, is not to act as though they don't really understand the economic moves Uncle Sam is currently making.
Even though McCain needs a game changer, don't expect too many fireworks at this last encounter. McCain will likely say Obama's economic proposals will raise taxes, and Obama will counter that he's got an online calculator that compares the plans of both candidates for voters to decide for themselves. McCain will say elements of Obama's latest economic proposal are dangerous to the economy, and Obama will respond in kind.
Yet here, in a nutshell, is John McCain's biggest problem. How can he attack Obama as a tax and spend liberal when the administration in power, that of his own party, has spent like drunken sailors on two wars, and now an economic bailout that could cost in the trillions? And he signed off on it, remember? Those earlier words about the economy not being his strong suit now come back to haunt.
Or does he think people forgot?
Tuesday, October 14, 2008
Wall St. Got Theirs. What About Us?
If you want to know why the stock market rebounded so vigorously on Monday, look no further than good old Uncle Sam. The three headed hydra of the Federal Reserve, FDIC, and Treasury threw everything but the kitchen sink at the financial markets. You need money? No problem. Expanded deposit insurance? You got it. Guarantees on bank debt? Here it is. Capital for healthy banks? Just say the word. And all those investors on the street breathed a collective sigh of relief.
This begs the question of whether we as taxpayers ought to share in their joy. As Steven Pearlstein of the Washington Post puts it, now that the nation has done so much for Wall St., what is Wall St. ready to do for the nation? Pearlstein says, not much. He then chronicles some of the things these titans of industry could do to repair the damage their greed has wrought. It's an interesting list, to say the least. That the banks in particular haven't seen fit to adopt one of these promises speaks volumes as to their absolute moral bankruptcy.
As America bails out the banks, why can't they pledge to keep lines of credit open to good customers? Why can't they pledge not to foreclose on homeowners who are able to refinance into government guaranteed fixed rate mortgages? How about volunteering some of their number to help administer the distribution of all this money? Ooops, maybe not. They'd only mess that part up like they've messed up the American economy.
All this taxpayer money is going to people who act like their doing someone a favor by taking it. That's why people like Howard Zinn and John Nichols may be right when they say the bailout should have gone to the American people rather than these clueless, self absorbed, financial geniuses who seem to be most adept at keeping their own heads above water.
Hey fellas! Don't miss your tee times!
This begs the question of whether we as taxpayers ought to share in their joy. As Steven Pearlstein of the Washington Post puts it, now that the nation has done so much for Wall St., what is Wall St. ready to do for the nation? Pearlstein says, not much. He then chronicles some of the things these titans of industry could do to repair the damage their greed has wrought. It's an interesting list, to say the least. That the banks in particular haven't seen fit to adopt one of these promises speaks volumes as to their absolute moral bankruptcy.
As America bails out the banks, why can't they pledge to keep lines of credit open to good customers? Why can't they pledge not to foreclose on homeowners who are able to refinance into government guaranteed fixed rate mortgages? How about volunteering some of their number to help administer the distribution of all this money? Ooops, maybe not. They'd only mess that part up like they've messed up the American economy.
All this taxpayer money is going to people who act like their doing someone a favor by taking it. That's why people like Howard Zinn and John Nichols may be right when they say the bailout should have gone to the American people rather than these clueless, self absorbed, financial geniuses who seem to be most adept at keeping their own heads above water.
Hey fellas! Don't miss your tee times!
Monday, October 13, 2008
I'm Gonna Whip His You Know What
As the final debate between John McCain and Barack Obama looms large, we hear, as always, an awful lot from the "strategists". Of course, a strategist can be almost anybody with an opinion on what either candidate should do. The loudest noise is coming from those in the McCain camp. His campaign seems to be a bit confused as of late, veering back and forth between ill received economic proposals and William Ayers. The big news over the weekend was McCain's pledge to "whip his you know what" on Wednesday.
It's ironic in a way that some of the same pundits who told him to attack Obama's character a couple of weeks ago are now saying he's got to sharpen his focus on the economy. There appears to be a little discord within the campaign itself, leading to rumors of a last minute shuffling of advisors. We'll see.
For the Obama camp, the worst enemy would appear to be thinking it's done already. A quick look at John McCain's recent history should tell the Democrat's campaign it isn't over till it's over. That would be when the last vote is counted. After all, the economy could stabilize, Obama could turn in a lackluster performance at the final debate, and McCain could finally come up with an economic proposal that passes rudimentary muster.
And then there's the issue of actual voter suppression. There have been numerous allegations of same, right now flying under the radar, but which collectively could make a giant difference in a close race. A case can be made the Obama campaign will be able to fight these efforts off, but it will be a battle. Then there is the unknown factor of what Barack Obama will do with that chunk of airtime he's buying.
But that's not for awhile yet. Let's see if McCain can truly open a can of whup-a** this Wednesday.
It's ironic in a way that some of the same pundits who told him to attack Obama's character a couple of weeks ago are now saying he's got to sharpen his focus on the economy. There appears to be a little discord within the campaign itself, leading to rumors of a last minute shuffling of advisors. We'll see.
For the Obama camp, the worst enemy would appear to be thinking it's done already. A quick look at John McCain's recent history should tell the Democrat's campaign it isn't over till it's over. That would be when the last vote is counted. After all, the economy could stabilize, Obama could turn in a lackluster performance at the final debate, and McCain could finally come up with an economic proposal that passes rudimentary muster.
And then there's the issue of actual voter suppression. There have been numerous allegations of same, right now flying under the radar, but which collectively could make a giant difference in a close race. A case can be made the Obama campaign will be able to fight these efforts off, but it will be a battle. Then there is the unknown factor of what Barack Obama will do with that chunk of airtime he's buying.
But that's not for awhile yet. Let's see if McCain can truly open a can of whup-a** this Wednesday.
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