Tuesday, September 23, 2008

The Economic Crisis and the Candidates

As the financial crisis built up and answers and suggestions were flying back and forth this past week, there was some comment about Obama not “having all the answers.” And now that he’s spoken, the McCain camp says that his ideas were stolen from McCain. Maybe not the most absurd comment coming from the McCain camp, but nonetheless not worth Obama answering. Obama is hardly following "in McCain's footsteps," since McCain hemmed and hawed and then shot from the hip as is his style by declaring the SEC chair should be fired, because of course as we all know if we find a scapegoat, we need not take any responsibility (as McCain is wont to do always -- lie until you're caught dead to rights - I may have been in Congress for many years but even though I was against regulations, I'm not at all to blame for anything). After all, he's a hero.

Then McCain decided to go the Congressional route by sending the problem to committee, a surefire dead-end. He was even ready to name the committee.

As for the bailout itself, he's been against it, then for it, and then against it again. To put it bluntly, he's "quick to respond," but has no brain behind it. The most insightful comment he's made on the economic crisis is to admit that he knows little about economics.

Obama may not have majored in economics (actually I believe he majored in international relations at Columbia), but his quick intelligence is partnered with measured consideration of a situation before committing himself. I see that he has advisors who are considered experts in economics, and he’s obviously discussed the situation with them. I think his comments and suggestions are not taken from McCain at all. They may have some genesis with the Congressional Democrats, but he has put it together in a coherent, cogent manner that makes sense.

The four points are well taken.

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