Keating 5, Tony Rezco, William Ayers - a lot of bluster while candidates avoid the economy
Issues for the next President, Presidential Candidate
Written by Michael Vass
Wow, the words are flying now. The Presidential race has taken a step to overdrive as both the candidates attack each others past. And the points picked by the McCain campaign seem to have the Obama campaign flustered to say the least.
The Obama campaign has been targeting the investigation of McCain in relation to the Keating Five investigations. Senator McCain was vindicated in that investigation and found to be without blame. Yet this was a huge problem at the time, and may again be, as the economy flounders in the wake of the mortgage bailout and the credit crunch.
With all eyes on the Dow Jones Index, which had dropped as low as 781 points down in the day. Expectations that all the problems of the mortgage crisis were averted by the $700 billion bailout have been proven false, which really should be no surprise. Europe and other world markets are now facing their own problems which again rippled from the initial failure of the Fed, Barney Frank and Chris Dodd on their Congressional banking committees, and President Bush. Note that neither Senator Obama nor Senator McCain were responsible for this economic fiasco. But with the introduction of the Keating Five Obama is trying to paint McCain as fiscally irresponsible.
Of course if the record is to be looked at only McCain has tried to reform Fannie Mae and Freddie Mac and highlight problems while Democrats denied the existence of a problem. And only McCain actively worked on improving the bailout plan from what was essentially a blank check to an unwatched Treasury Secretary, with repayment going to Democratic pet projects of dubious nature (ACORN) instead of the public.
The McCain camp has targeted the highly questionable association of William Ayers and Senator Obama. I admit that I have trouble with the close association of the potential next President with a known, and self-admited, terrorist that actively was involved with the bombing of Government buildings on American soil and remains unrepentant. And it is accurate that Senator Obama has initially described their association as a friend, and has backed away from that since the early Primaries while the major news media has avoided all discussion of the matter.
The McCain camp has also targeted the association of Obama with Tony Rezco and Rev. Wright. I disagree with these associations being used against Obama as much as I disagree with The Keating Five tactic. Obama has never been found to have been influenced by either man in this voting record since he engaged in politics in Illinios. Without a reason to be alarmed, their less than perfect public images are just mud to be thrown at the candidate. And I have discussed my thoughts about the attacks using Rev. Wright, which I feel are a sidestep to a racial attack, in depth during the Primaries when Senator Clinton first used the tactic.
But the fact is that neither of these items being used by each camp address the fact that the economy will be weaker and troubled during at least the first year of the next President’s term. It is unrealistic that further cuts to taxes will be immediately available to stimulate the economy. It is equally unrealistic that adding 800 billion in new spending will be possible.
Right now Senator Obama is talking about taking on House Speaker Nancy Pelosi’s dream of a second stimulus plan. Considering the over $1 trillion spent this year just on failing banks and finance companies I can’t imagine where this money would come from, or how it would be any more effective than the first stimulus plan. Infact it would be less effective considering the economic landscape.
As for McCain he continues to believe that lowering corporate taxes is the only solution, which I believe will be a hard sell.
The fact is that right now the drop in the Dow Jones Index, and the up coming horrendous 4th quarter earnings that will reflect the slowdown in the economy, are helping Senator Obama and Democrats. There is no logical reason for this, since both Parties were equally lax and culpable in the creation of this problem (though arguably Democrats are slightly more at fault especially if the past is considered). But if the economy continues to falter drastically, and the promise of a 2nd stimulus plan gains attention (as it likely will) the chance of Obama winning the election increased dramatically.
And if that is what happens, for the reason of the economy, the real pain will start. In my opinion the weakest plan, and the least fiscally flexible plan, is held by Obama. With him in office, and a Democratic Congress again, I expect new record low approval ratings, double digit inflation, double digit unemployment, and an increase in taxes of all Americans by 7 – 15% minimally. Essentially a return to the environment that President Carter created.
But we will see if I am correct and if the various mudslinging attempts of the campaigns have any backlash.
admin @ October 6, 2008
It is well documented that while in a North Vietnamese prison camp, John McCain was subjected to extreme torture that ultimately led to his brainwashing. While there, he signed a “confession,” which military psychologists recognize as proof positive that someone has been totally brainwashed. Apparently, the red Chinese (who recognized that McCain was from an elite military family) directed the North Vietnamese with this process.
Having been brainwashed by the communists, he was instructed to return to the United States and seek out political office, which he obviously has. Evidence recently uncovered by the CIA indicates that his instructions, which military psychologists indicate he may not even be conscious of because they are buried so deep in his subconscious, are to gain control of America’s nuclear arsenal as President and then use them to subjugate the American people to the will of the ruling communist party in China. This is why he refuses to release his medical records! They corroborate this new CIA information. And that’s why the Chinese government has been secretly and unexpectedly pouring money into his campaign!
Michael Chen,
You have no idea what you are talking about do you? I’m very sure that every word that you posted came directly from an anti-McCain website, where they too failed to note a single piece of evidence to back up these absurd and unfounded asserions.
It’s not the first time I have heard such outlandish dreams. And it is little different than the internet garbage that was bumped into email accounts across the world, identifying Senator Obama as a Muslim terrorist. That was false too in case you weren’t sure.
It’s not so much that I am annoyed that you took biased, uncredited, inflamatory statements and posted them as if they were honest commentary. It’s that you state it in such a manner that everyone reading this should just suddenly realize that it must be true because you said it. It’s arrogant.
Suffice to say, if anyone believes this I have a bridge for sale, cheap.