Wednesday, September 17, 2008

McCain vs. Obama on the Economy

John McCain has backed off his "pig" charge, but he did get the necessary mileage out of the fracas. The public was temporarily diverted from contrasting McCain and Obama's prescription for the economy. Like Bush, McCain believes that the economic "fundamentals are sound."

Like Bush, McCain believes that the best medicine for the economy is lower taxes, an unregulated Wall Street, and a Security Exchange Commission that doesn't meddle. Follow the links below describing McCain's economic platform, and you'll find no mention of reform of the finance industry. Only today, September 15, the day of the Big Meltdown, did McCain jump on the bandwagon to overhaul the financial sector. Mr. McCain's top economic advisor and personal friend of decades, Phil Gramm, has always advocated a hands-off approach to regulation.

Just last year, Mr. McCain spoke in disapproval of government meddling in the banking business. Mr. Obama, however, has long advocated that the Feds step in and bring some control to the free-for-all that has led the failures of some of the most storied names in banking and lending. Mr. Obama has long advocated economic reform of the finance industry, a stronger SEC and stricter oversight of Wall Street trading.

When Americans finally get around to comparing Democratic and Republican plans for reforming the economy, it will not be a happy day for John McCain. I'm sure he wishes we could all get back to Palin pig debate.

http://tpmelectioncentral.talkingpointsmemo.com/2008/09/mccain_this_morning_the_fundam.php
http://www.huffingtonpost.com/2008/09/15/chris-matthews-battles-na_n_126657.html
http://www.nytimes.com/2008/09/16/us/politics/16record.html?_r=1&hp=&pagewanted=all&oref=slogin
http://ap.google.com/article/ALeqM5hdX1csHuXbUFJ6REp97MjBsJouHAD932F24O0
http://www.philly.com/dailynews/local/20080701_Dave_Davies__A_few_minutes_with_McCain.html
http://www.huffingtonpost.com/2008/09/15/mccain-fundamentals-of-th_n_126445.html
http://www.motherjones.com/news/feature/2008/07/foreclosure-phil.html
http://online.wsj.com/article/SB120451614688707083-email.html
http://useconomy.about.com/od/fiscalpolicy/p/John_McCain.htm
http://economistmom.com/2008/09/mccain-palin-economic-platform-bush-policy-extended-with-lipstick/
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4510097.ece
http://www.washingtonpost.com/wp-dyn/content/article/2007/09/17/AR2007091700449.html
http://www.nytimes.com/2008/03/27/us/politics/27text-obama.html?_r=1&oref=slogin&pagewanted=all
http://news.yahoo.com/s/nm/20080915/pl_nm/usa_politics_dc
http://knowledge.wharton.upenn.edu/article.cfm?articleid=2000
http://www.ontheissues.org/senate/Barack_Obama.htm
http://www.ontheissues.org/2008/Barack_Obama_Budget_+_Economy.htm
http://www.ontheissues.org/2008/Barack_Obama_Tax_Reform.htm

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