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McCain Is Guilty EnoughPosted on Sep 30, 2008By Marie Cocco Barack Obama, accused so often of taking too lawyerly an approach to the rough-and-tumble of presidential politics, delivered a brilliant summation at the very outset of his first debate with John McCain. The question was about the gargantuan bailout being forced upon taxpayers as a way of rescuing the economy from the clutches of the worst financial crisis since the Great Depression. The answer was crisp and complete. “This is a final verdict on eight years of failed economic policies promoted by George Bush, supported by Senator McCain, a theory that basically says that we can shred regulations and consumer protections and give more and more to (those who have) the most and somehow prosperity will trickle down,” the Democratic presidential candidate said. Were George W. Bush himself in the defendant’s chair, this would be one of those cases in which the jury would be sent to the deliberation room and the judge would have to quickly return from his chambers to hear the verdict. Does anyone doubt that Bush would be found guilty as charged? With this latest, grotesque mismanagement of a financial disintegration that showed its first signs years ago, Bush has done for the global economy what he did for New Orleans. He has allowed it—allowed all of us—to drown in a failure that is catastrophic, and he has done so through his usual combination of ineptitude and ideologically inspired indifference to the consequences of refusing to take early action. Make no mistake. Even as a balky Congress ponders the largest government bailout in American history, even as politicians calculate the winners and losers, even as Obama and McCain are forced to throw away the talking points of their carefully scripted campaigns, this is the beginning of something—not the end. A recession—and a deep one, many economists now say—is all but certain to grip the U.S. economy and reverberate worldwide. It is to begin (if it hasn’t already) after a period in which household incomes among middle-class Americans never struggled back to the level they’d reached in 2000, before the last recession. With inflation factored in, median household income among working-age families (those headed by someone under 65) fell by $324 between 2000 and 2007, according to Census Bureau data analyzed by the Economic Policy Institute. Managing the restructuring of the financial industry and whatever economic fallout results from it will necessarily preoccupy the next president well into his term. Neither Obama nor McCain would state on Friday night which of their proposed programs would have to be abandoned or delayed because of the one-two punch of bailout funds being disbursed at the same time revenues are falling due to the economic slowdown. An obvious answer is to allow the Bush tax cuts to expire as scheduled beginning in 2010, a year into the next president’s term. But the last gasp of the old guard could still be heard even over the weekend. House Republicans proved their terminal ridiculousness by proposing—get this—to cut taxes on the very businesses whose failures are now to be financed by taxpayers. The verbal jousting and gotcha moments of previous debates were mostly absent on Friday. But what also was missing is this: an aura that captured the reality that no new president since Franklin D. Roosevelt has been asked to take the reins of power with so many crises, on so many fronts, threatening the United States. The presidential contest, despite periodic ups and downs for one candidate or the other, has been quite close since the two candidates secured their nominations. It has often seemed that voters would like to choose one from column A and one from column B—McCain’s experience and national security credentials and Obama’s freshness and pledge to break with the disastrous policies that have taken us where we are today. In trials, juries often are able to reach a compromise verdict by, say, finding a defendant guilty of a lesser charge. Voters have no such option. Obama is fundamentally right. We have on Nov. 4 an opportunity to deliver the final verdict on a crowd that has been negligent in too many ways to count. McCain wasn’t the ringleader, but he has been complicit.
Bush and the Republicans are guilty as charged. They deserve to be put away.
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By truthsayer, October 2 at 6:06 pm #
Unless we kick out these “w***es” who only do what their masters want them to do, we will just keep on boo-hooing when we see business as usual. Remember 2006 mandate for the Democrats to impeach the president? Did that happen? No. Recently, did Obama and McCain vote for the wall street bailout of bandits? Yes. Same story.
Until we accept and vote for eligible, progressive third party candidates, nothing will change. We will keep getting the royal shaft (from the upper ruling class of America, many of whom are actually foreigners).
Report thisBy MajMike, October 2 at 2:59 pm #
I don’t know where/how they got their information, but I have personally talked with many ‘Nam exPOWs (10-12) and while they admit that every man broke to some extent, McCain did so no more or less than anyone else. I’ll take their word for it.
There are plenty of reasons not to vote for him, let’s stick to the present.
Veterans for Obama!
Report thisBy Caryl S. Foster, October 1 at 4:31 pm #
Given his long-standing principles, Senator McCain will of course vote against or perhaps abstain voting on the Senate Bill tonight because of the “pork” that has been put in it.
Ironically, there was no “pork” in the House Bill he so ineloquently failed to rally his fellow Republicans in support of and despite publicly “suspending” his campaign to do exactly that.
Break out that pen Senator.
Can Lose For Losing
Report thisBy Kwaayesnama, October 1 at 8:41 am #
have a problem with GOP lies.
Report thisThey look us in the eye and tell us something without blinking, wave the American flag and we the people fall in line.
1. We have to send our sons and daughters to die looking for weapons of mass destruction. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL.
2. Sedam Hussein was responsible for 9-11. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL.
3. Iraqi oil will pay for the war. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL.
4. Mission accomplished. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL.
5. Our economy is basically strong. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL.
6. We are fundamentally better off during the bush administration. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL.
7. John McCain campaign statement that he is not able to use a computer because of his suffering as a prisoner of war. HURRY UP PULL OUT THE FLAG AND WAVE LIKE HELL. Now here is my problem with that scenario.
a. On July 13, 2008 in a New York Times interview john McCain said: “I am learning to get online myself, and I will have that down fairly soon, getting on myself. I don’t expect to be a great communicator, I don’t expect to set up my own blog, but I am becoming computer literate to the point where I can get the information that I need.”
http://www.nytimes.com/2008/07/13/us/politics/13mccain .html?_r=1&adxnnl=1&oref=slogin&pagewanted=all& amp;adxnnlx=1222265530-/ZNysS+adS5fFovaDYxncg#
b. On Rachel Ray John McCain whipped up a batch of ribs. I would like a medical opinion on what different muscles are used to barbecue ribs that you would have to use on a keyboard.
It’s time to look in their eyes - not blink - and say “Stop lying to us?”
By TheRealFish, September 30 at 10:19 am #
Our decision is actually pretty simple:
There are few times in history when any president will step into such a crap-pile mess.
One is “too lawyerly” or “prophesorial”—anti-intellectual code language for “smartypants,” “egghead,” or any other snap we can throw at the brightest kid in the class.
The other? Well, let’s forget he graduated from his military school something like 3rd from the bottom of a class of around 900 or 1000. So he will never be labeled “smartypants,” and was probably never given a nuclear wedgie in high school because of it.
So, that other is really not so bright, though he can tell a good joke. Heck, he makes a joke out of everything (especially when he’s attempting to push the blade between the 3rd and 4th vertebrae; we’ve certainly seen him do that often enough recently with a big, slightly scary, nearly soul-dead smile).
And he sure has a mountainous pile of ambition—enough for two. Too bad that comes with no moral center, no principles (other than deregulation) on which to plan his actions.
But, hey! He’s ready, willing and able to double-down on any bet, put everything in the pot and let it ride, just for the thrill of the win, right?
So, who would we want stepping in to tackle such a dire string of Republican created emergencies? An elite brainiac non-Republican, or the Republican guy who just wants to win the largest stake there is—so he can gamble with our national wealth, privatize our government, and blast anybody who gets in his way?
Report thisBy pacer521, September 30 at 9:22 am #
(Unregistered commenter)
I agree with Cran Berry…
http://culturedecoded.wordpress.com/2008/09/30/analysi s-why-the-republicans-cant-replace-sarah-palin/
Report thisBy voice of truth, September 30 at 7:59 am #
BigB
You are absolutely correct when you say that “we” have financed our growth, when you refer to the government and its debt. Because the government is not a producer, there is no way for it to “grow” except by increasing taxes, which are a burden on economic growth, which reduce taxes, which forces the government to borrow more, yadda yadda yadda.
I think you are confusing the idea of borrowing to grow on speculation vs borrowing to grow through investing in growing one’s business. They are not the same thing.
Report thisBy Big B, September 30 at 7:54 am #
Of course borrowing against future prosperity is a flawed theory. We are in the middle of the failure of speculation now!
Back in 1929 the market collapsed because businesses and private citizens were permitted to buy stock ON CREDIT! They drastically overestimated the amount of money that the economy could produce. Ultimatly, it took a massive government intervention, a world war and nearly 20 years for the nation’s economy to recover.
Now we have the same problem, only supersized! The nation has spent 25 years financing future growth. We have borrowed, as a nation, almost 10 trillion dollars! That’s more than 3 years of federal tax revenues! The states carry an enormous debt load as well. And don’t even try to figure out the amount of personal debt of american citizens.
There comes a point when you have to pay your bills!
The problem is simple, we have borrowed so much that we cannot even pay the interest. We have never, not even the post WWII boom, produced as much capital as we will need to feed this piggy.
The nation, it’s people and it’s government, need to “pay as we go” for awhile. But I do not think even responsible spending and saving from now on could possibly make a dent in the debt load.
We just may be doomed.
Report thisBy voice of truth, September 30 at 7:31 am #
Big B - Growth is financed by access to capital. If that is what you call “financed”, then to say it is not the way is just not true. No company has the capital within itself to fund massive investments in itself. Essentially, companies get capital from lenders by showing them what they will do with that capital, how it will grow their business and, thus, how they will pay off their debt.
That is simply how it works, it is not a “flawed theory”.
Report thisBy voice of truth, September 30 at 7:29 am #
This crisis also has been based on a flawed theory,
1 - Governement regulators who forced Fannie Mae and Freddie Mac to pressure banks to give more loans to low income and high credit risk individuals (food stamps are a source of income?!)
2 - Banks, knowing that the governement (Fannie and Freddie) would absolve them of any responsibility for those loans, reaped the benefits with no hesitation.
3 - Congress, in a bout of excitement, flat out refused to reign in Fannie and Freddie, with the most vocal supporter of them being Barney Frank.
4 - Investors packaged up all these crap loans and “securitized” them to fund other deals.
5 - Oops. Now we are all holding a bag of excrement, the government is going to spend $1 Trillion of our $$, the Republicans are blaming the Democrats for their trying to force social re-engineering on the markets. The Democrats are blaming the Republicans for letting them force social re-engineering on the markets, no one can get capital to grow their businesses and the idiots in DC still have no clue how we even got here.
Report thisBy Big B, September 30 at 6:05 am #
The current economic situation is the culmination of a failed theory. The theory that you could somehow finance economic growth.
It has been tried twice in our history. First, the New Deal nearly led us out of the great depression by focusing money on the poor and regular folks in massive public building projects and pulic service delivery systems. It almost worked. But it took a world war and global reconstruction before the plan came to fruition. But it did indeed create a middle class america.
The second time was the 1980’s. when massive, unfunded spending programs were reaped upon the wealthiest among us, in the hope that this financed prosperity would somehow “trickle down” to the hoi polli. This only created debt, that was somehow supposed to be paid for with future prosperity.
We have seen quite clearly that this policy is an abject failure.
No amount of public or private spending will pull us out of this doldrum we have entered. The best we can hope for now is a soft landing and a kind wealthy benefactor.
As Jefferson Davis lamented about the confederacy in 1865, “We died of a theory.”
We have not died yet, but the doctor is shaking his head.
Report thisBy Purple Girl, September 30 at 5:56 am #
Say it again LIE
Report thisSay It Again COMPLICITE!!!
Oh you make this Old Pissed off Liberal minded, Isolated Patriot Swoon!
Talk to me, work with me ....You just have to form your lips to say the Words ‘TREASON’ ‘WAR CRIMES and ‘CRIMES AGAINST HUMANITY’
Isn’t Denial the first hurdle to jump in any Rehab program?
Could We actually be coming out of over 2 decades of Toxic koolaid Poisoning?
Is It Possible the people have begun to notice all the Chicken on CheneyCorps front Lawn, the Shit spots on ALL of McCains Doorsteps?
Oh My Heart Be still, I can barely contain my Jubalation at the American Awakening!!!
Lop a Few heads off for High crimes, and we could be Back in business as the UNITED STATES OF AMERICA , Not AmericaInc.
Problem with people with Morals and Ethics- we have a hard time NOT Mincing words- always conceding to a lesser, inaccurate Charge.
I’ve Stopped, This admin & Mac’s entourage are TRAITORS.
The RelIgious Right Are HERETICS
‘Pro Lifers’ are actually Pro Birthing Breeders for the Corps most sought after Cheap commodity, Human labor- Meet Your Quota!
The DLC is disaffected Republicans who Jumped ship when the Immoral Minority confiscated their Flag ship,"Reagan Democrats’ - Screw YOU Hillary!
The Hillary/Palin ‘Feminists’ today are nothing more than shortsighted, Pampered Puss’ ‘Janie Come Lately’s’ .equality for them amounts to a Curves membership to equal His Golf membership!21st Century Shafely Dumbasses! Heads Up ladies, Women are the heart & Soul of the Equal Rights Movement...WE ARE the BARERS of DIVERSITY!
Those who have been in a daze in this Acid Koolaid test, Pick Up 1984 (George Orwell 1948) Then sit infront of your computer and Review the last 4 decades from Factual Historical Accounts
Thus Dispelling Yet another Myth...It is not the Rovian handbook, It’s the Orwellian handbook!
By GW=MCHammered, September 30 at 5:22 am #
(Unregistered commenter)
Stop Feeding the Beast:
Report thisNeocon(6) Gdubya(6) Cheney(6)
No McSame!
By KISS, September 30 at 5:18 am #
Not an once of difference in either of them. Tough times for us citizens lays ahead. Big business will continue to rule and we will slave before them.
Report this“We are now in the golden age of thieves. And where I come from we put thieves in jail, we don’t bail them out.” — Rep. Pete Visclosky, Democrat.”
But not in Washington D.C. Get-out-of-jail-free cards are up for grabs.
Anyone in the debate mention Jail? Of course not.
By Marc Schlee, September 30 at 4:16 am #
(Unregistered commenter)
Noun, Verb, “Tweety” McCain was a Viet Cong collaborator. The strategic information he gave the North Vietnamese resulted in the deaths of an untold number of American servicemembers. He shouldn’t be President, he stood up against a wall and shot.
http://www.counterpunch.org/valentine06132008.html
FREE AMERICA
REVOLUTIONARY (DIRECT) DEMOCRACY
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