Tuesday, September 30, 2008

McCain dead?

Obviously Senator John McCain's efforts last week to suspend his campaign and work on the bailout failed. In addition, his failure to articulate what he stands for has also hurt him him in the polls. Yesterday, the House Republicans and 95 Democrats gave McCain an inroad to get his campaign back on track if he is willing to attack Obama. As Dick Morris suggests, "he (McCain) needs to say that our system is starving for capital. Raising capital gains taxes, much less doubling it as Obama proposed during the primaries (but now is trying to backtrack), is like taxing water in the desert. McCain has to talk about Obama's spending proposals and mock the idea that he can spend a trillion and still give "95% of Americans" a tax increase. McCain should take a page out of the playbook of the endgame of the Bush 1992 campaign. With Bill Clinton holding a solid lead, Bush was reluctant to attack him for his record of tax increases, especially given his violation of his 1988"read my lips" pledge not to raise taxes. So the campaign sent Vice President Dan Quayle out to attack Clinton, day after day, for raising taxes. And the results were clear in the polls. Bush gained each day and, four days before Election Day, Bush took a lead over Clinton in the tracking polls". Painting Obama as a big tax and spend liberal in these uncertain economic times may just get McCain back in the race, but he has to act quickly...Speaker Nancy Pelosi yesterday questioned House Republican's patriotism and trashed the economic policies of the Bush administration after the House voted down the bailout package. She then turned around and said Republicans and Democrats need to come together. Is it any wonder why nothing gets done in Washington?...House member Barney Frank continues to assail Republicans for voting against the bailout. What Representative Frank, Senators Chris Dodd, Chuck Schumer, and Barack Obama fail to recall back in 2003-2005 is that they all advocated that Fannie Mae and Freddie Mac were "fundamentally sound" institutions and blocked any legislation to tighten oversight of the failing GSEs (Government Sponsored Enterprises). Two questions: 1. do they all feel that way today; and 2. why isn't any one in the old media reporting this fact? By the way, Frank, Schumer, Obama, and Dodd all received huge amounts of money from Mae and Mac...If all of the current bank mergers go through, Citi, Bank of America, and Chase will hold $1 for every $3 deposited in this country. That's a rather scary thought and an enormous power grab.

There are 35 days until the presidential election. There are 111 days left in the Bush presidency. And, it's been 2,773 days since there's been a terrorist attack on US soil. Good day and God bless!

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