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It's totally the economy, stupid! With yesterday's trouble on Wall Street adding to economic unease (higher gas prices, the mortgage crisis), Barack Obama and John McCain addressed the economic climate.
McCain first said the "fundamentals of our economy are still strong...I promise you, we will never put America in this position again. We will clean up Wall Street." (video) but later shifted saying the fundamentals are "at great risk." And he also claimed that the fundamentals he meant were American workers, innovations, etc. to use them as a buffer in case Obama attacked. This morning, McCain suggested putting together a 9/11 Commission-style panel to understand what happened with the economy.
And the Democratic presidential did seize on the "fundamentals," saying McCain was "out of touch." (Here are both candidates' statements about the economy.) Obama's campaign also used the Republican's words against him three times in an ad that also uses footage of yesterday's Wall Street chaos:
McCain also ran an ad starting this morning, proclaiming that he and Sarah Palin would be able to reform Wall Street and take care of the country:
However, the NY Times reports McCain's "record on the issue, and the views of those he has always cited as his most influential advisers, suggest that he has never departed in any major way from his party’s embrace of deregulation and relying more on market forces than on the government to exert discipline." Obama's approach would involve more regulation, which he's been touting for a while. An Obama advisor told Politico, "McCain spent the last year-and-a-half either saying nothing or espousing sympathy for the viewpoint that government oversight and regulation were the problem."
Mayor Bloomberg did say that the fundamentals of the economy were strong--but he meant the underlying fundamentals, "its diversity, its hard work, its good financial statements, its broad capital markets, its enormous natural resources.” Overall, the Wall Street Journal finds, both candidates don't have many strengths in terms of dealing with the economy. Slate has an article about how the bad economy doesn't really help either candidate much.
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Poll needs more candidates.
It's hilarious that McCain is still harping on offshore drilling as a means to lower gas prices. Why isn't anyone calling him out on this? Even the Bush administration says it'll take 7-10 years to get that oil, and it would only drop gas prices by 2-3 cents.
Again, I'm not backing McCain but cherry picking half a sentence to is pretty weak.
The full quote is:
"Our economy, I believe, still, the fundamentals of our economy are strong, but these are very, very difficult times, so I promise you: We will never put America in this position again. We will clean up Wall Street,"
You can argue about what he meant by "fundamentals" but saying McCain is ignorant of the pain some people are enduring is baseless.
McCain is so clueless regarding the economy, it is frightening:
http://abcnews.go.com/Politics/5050/story?id=5812268&page=1
As if the economy is as mysterious as Al-Qaeda. A commission to find out what went wrong?
I don't think Obama has any clue what to do. All he can say is, we need something different then what we've been doing. But I don't think he knows what that is.
Ron Paul would have been the best candidate to deal with the economy, as he is the only candidate who had/has any clue what is going on. And he has been predicating that this would happen for a long time.
"You can argue about what he meant by "fundamentals" but saying McCain is ignorant of the pain some people are enduring is baseless."
i have to agree, the poor guy feels our pain so much, he's not sure which of his houses to sell so he can make ends meet.
Like McCain knows shit about economics! You'd better ask his wife cause she's the rich one. Obama doesn't seem to know that much Either but he's from Harvard so he's smarter.
And Sen. McCain wants a "9/11 commission" on the Economy.
I was wondering how he'd insert 9/11 in this problem...
It's hilarious that McCain is still harping on offshore drilling as a means to lower gas prices.
I don't give a damn if it lowers oil prices or not. But why do you prefer to buy oil from Russia, Venezuela, the Middle East, etc.? And before you tell me all about conservation and renewable energy lets assume that we aren't going to be off fossil fuels in 10 years.
@ S.D.
McCain doesn't think this is a result of 9-11, he is calling for a "9/11 Commission-style probe."
As in, a commission to investiage the economy in the same way we had a commission to investiage 9/11.
He needs a commission to figure out what went wrong? Is he the only guy left who hasn't listened to that damn This American Life episode yet?
Ugh, I cant believe these are the two idiots most people will vote for. They havent a fucking clue about how to fix whats wrong the economy. Seriously, is one of them that much smarter than Bush? And how bad is that?
From what I've heard at least about Obama is that he has a great team of economist advisors. I'm not sure about McCain.
http://www.bloomberg.com/apps/news?pid=20601070&refer=politics&sid=a7Zdp3HDltW4
He's doing something kinda new and different from most Democrat and Republican candidates while McCain is offering a more traditional Republican stance on the economy, which I think is part of the problem.
The Republican solution will still be give money to the rich and businesses, less regulation, and hope for the best.
By "Fundamentals" McCain means that the rich get richer and the poor get poorer.
Oil has fallen over $50 per barrel in just two months and without any drilling! All you have to do is allow your big banks and brokerage houses to collapse. It's cheaper and more environmentally friendly.
Any guesses for the next bubble?
McCain is out of touch with the world today. The is guy is 72 years old for crying out loud. Do we really need another old fart in Washington who thinks it's the 60s and 70s?
We're going to clean up wall street by deregulating and... oh crap.
The is guy is 72 years old for crying out loud.
23 Senators older than McCain:
Robert Byrd (D-WV) - 90
Ted Stevens (R-AK) - 84 - probably on his way out
Frank Lautenberg (D-NJ) - 84
Daniel Inouye (D-HI) - 84
Daniel Akaka (D-HI) - 84
John Warner (R-VA) - 81
Arlen Specter (R-PA) - 78
Jim Bunning (R-KY) - 76
Ted Kennedy (D-MA) - 76 - probably also on his way "out"
Dick Lugar (R-IN) - 76
Pete Domenici (R-NM) - 76
Dianne Feinstein (D-CA) - 75
Chuck Grassley (R-IA) - 74
Robert Foster Bennett (R-UT) - 74
Orrin Hatch (R-UT) - 74
Richard Shelby (R-AL) - 74
Carl Levin (D-MI) - 74
Jim Inhofe (R-OK) - 73
Herb Kohl (D-WI) - 73
Pat Roberts (R-KS) - 72
George Voinovich (R-OH) - 72
Barbara Mikulski (D-MD) - 72
Elizabeth Dole (R-NC) - 72
John McCain (R-AZ)
^ not running for president
No, they just vote on spending, taxes and regulations. I think I read something somewhere about checks and balances i.e. that thing we elected the Democrats to do in 2006 and they have utterly failed at.
zstone, exactly.
Oh and you can have as much offshore drilling along the costal US and we'd still be buying 99% of our crude oil from foreign sources. If you really want to put a real effort into curbing that, why don't you stop using electricity produced from oil and stop using any vehicles that consumes oil based fuels and stop eating corn and corn based products (including most beef and poultry) and refuse to buy things packaged in plastic?
Why do you hate America?
(insert giant :rolleyes: here)
EastRiver, dont you know that young black people are better at being presidents than old white people? Oh and that @ 66 Joe Biden is still young.
I am the only person that thinks hating McCain b/c he's old isnt that far away from hating Obama b/c he's black and has a traditionally muslim name? I've said it before, a bigot is as a bigot does.
gossipgirl, Um, that would be why I put:
a "9/11 commission" on the Economy.
Does anyone really think we need a "9/11 Type commission" on the Economy??
but it's great that he pulled "9/11" into the discussion...
@gossipgirl:
I agree completely.
My theory is that the dems. are looking to be down with the hommies. Just think in the future they will be able to say "Im not a racist I voted for Obama".
They want a Ghetto pass (http://gawker.com/tag/ghetto-pass/ ). Thats why the get the buttons on their bags for the train ride to Red Hook. Its the whole Hip Hop revolution. lame ass white people want to be down with da hood. Doesnt matter anyway the party as a whole set its self up for failure and that will be the end result. Maybe next election the Dems. will nominate Eminem.
I can't wait until Nov.5th. America will wake up with President- Elect Obama and the tubes will be just FILLED TO THE BRIM with a very vocal minority of crybabies. Obama is President already and most of you bushbots haven't even noticed yet.
What's worse? Someone who knows nothing (McCain) about economics, or a Keynesian (Obama)?
I think I'd almost prefer to take my chances with the know nothing.
EastRiver
The thing that fails about how the Democrats in congress "failed", is that it belies the actual make up of congress. Democrats have a bare majority, and most proposals can't make it out the door in fear of being voted down or being vetoed by the president.
Once we elect more Democrats in congress that can actually override the Republicans and the veto, then you can blame things on the Democrats.
Otherwise, you have to blame Republicans for impeding the things Democrats have tried to do.
@TK
And if you think being old has nothing to do with the presidency I think you would be wrong.
I mean, do you think that with the way technology is influencing everything, and how increasingly that a person needs to be able to make decisions with knowledge of the technology in place, do you think ignorance on that issue wouldn't hurt policy or the execution of policy? I should have the right to think about that in regards to policy.
Or do you think that our concern with his age and health are not a good consideration when thinking about the vice president he picked?
Or what about when he apparently seems confused or forgetful. I understand we need to be careful about any jumps to conclusions or unfair accusations...but do you not think that the issues of aging and mental acuity should be ignored when voting? Even if it isn't due to age, it can be a concern.
I think trying to compare age and skin color is comparing apples and oranges. One's the color of your skin, one is about your physiological make up and changes that actually happen to you.
But you're right if you're just saying we shouldn't jump to conclusions based on any of those things but let the candidate stand on their own merits.
So do we believe the reform message or decide that the guy can't see reality? (Rhetorical question, obvs.)
OBAMA BLOWS
#30
Genius!
how would lowering taxes make new jobs?
#31
You blow!