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McCain closing deal: No new taxes

So does this close the deal with conservatives?

John McCain declared flatly Sunday that there will be no new taxes during his administration. Appearing on ABC’s “This Week,” McCain said that under no circumstances would he raise taxes if he is elected President. Allowing the Bush tax cuts of 2001 and 2003 to expire, as both Hillary Clinton and Barack Obama would do, would constitute a tax increase, said McCain.

What’s more, he said, he could “see an argument, if our economy continues to deteriorate, for lower interest rates, lower tax rates, and certainly decreasing corporate tax rates.” He also suports allowing filers to write off depreciation and he would eliminate the alternative minimum tax.

McCain blamed federal spending for the lack of enthusiasm among primary voters.”Spending restraint is why our base is not energized,” he said. “I think it’s very important that we send a signal to the American people we’re going to stop the earmark pork-barrel spending.”

Having heard the Democrats on taxes and spending, it doesn’t take much for McCain to close the deal with me. A “no tax increase” pledge, along with his earlier promise to appoint strict constructionist judges, fills the bill.

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By jbmlaw

February 18, 2008 8:23 AM | Link to this

Aloha all. McCain is clearly the superior candidate in this race and will be able to attract right and middle independents. He would easily defeat Ms. Clinton. As those who preferred a harder right conservative get over their hurt feelings and start lending him their support, McCain’s position will strengthen.

By catlady

February 18, 2008 8:34 AM | Link to this

And how does Mr. McCain propose to pay for everything? Like, for instance, the war? The housing bailout? Relief for those harmed by layoffs, weather/fire/hurricanes? What, EXACTLY, does he propose to use to pay for running of the government? Your first-born child?

By Redneck Convert

February 18, 2008 8:37 AM | Link to this

Well, I guess this librul McCain is better than a librul Democrat, but not by much.

Leastwise, he talks conservative. We need to keep the tax cuts. People like jbmlaw won’t be able to afford to go to Hawaii for a couple weeks if we don’t have the tax cuts.

Who cares how much we go into debt with the tax cuts? The way to deal with that is just whack everything except defense. Get rid of Social Security and make the Old Folks Army out of those people, like jbmlaw says. Get the federal guvmint out of roads and drug and food checking, and let us all fend for ourselfs. When a few people die of poison we’ll know not to swallow the same things they did. And we don’t need no national parks and such.

I hope this McCain comes thru on naming conservative judges. We need to overturn these laws about civil rights and not allowing us to put up the ten commandments or pray in school. And women need to be forced to have their babys and put in jail if they try to have a abortion.

Anyhow, I lost intrust in the elections when the Rev. Huckabee went dead on us. He’s dead alright, he just don’t know it.

So I guess in November us GA rednecks will go to the polls and punch the screen for McCain. Its the onliest choice we got. We can’t vote for this Hillary woman or one of Those People. If we elect one of them we won’t have nobody to look down on.

Traffic sure was light this a.m. It must be one of them yankee holidays or something. Have a good day everybody.

By Ron

February 18, 2008 8:37 AM | Link to this

Good Morning Jim,All McCain has to say now is"read my lips".I wouldn't mind seeing McCain as President,along with a Democratic Senate and House.I think that would be a grand scheme.I wouldn't care to see Obama,Pelosi, and Harry Reid on the same page.No new taxes?I doubt it.

By Tobacco is King, Again

February 18, 2008 8:41 AM | Link to this

The next five years are going to be a disaster for America, a disaster created by the Repukes and their pals the neocon scum. It is only fitting and proper that the next president, who will go down as the second worst president in American history to George the chimp Bushman, be a repuke. I cannot think of a better choice than cancer face mcClown, seeing as how he has been in the Senate for 20 odd years and bears great responsibility for this disaster. After McClown, there will never be another Repuke elected to public office in America….

By catlady

February 18, 2008 8:45 AM | Link to this

Oh, wait, we have already sold into slavery our first born child with the deficits we have now. Guess it is time for you men to give up a nut (for the welfare of the country).

By jbmlaw

February 18, 2008 8:56 AM | Link to this

Dear catlady @8:45 I’m willing to bust one for the good of the country, but that’s as far as I’ll go. Your proposal is unfair, in that conservatives would be disproportionately affected. Too many of our leftist brethren would be unable to contribute.

By Apocalypse

February 18, 2008 9:21 AM | Link to this

FACT - Obama is the MOST EXPERIENCED CANDIDATE!

Senator Clinton has based her campaign on an erroneous claim to greater legislative and administrative experience. Former President Clinton talks up her role in his administration on the campaign trail but pointedly refuses to release any documents that would provide greater details on her actual activities there. It is broadly understood that Hillary spearheaded the response team that staved off Republican attacks and spun the many scandals of the Clinton years. As to her Senate record, no one in the press has had the diligence to lay out her record for the public to assess.

Senator Clinton, who has served only one full term (6 yrs.), and another year campaigning, has managed to author and pass into law only (20) twenty pieces of legislation in her first six years. These bills can be found on the website of the Library of Congress (www.thomas.loc.gov), but to save you trouble, I’ll post them here for you.

  • Establish the Kate Mullany National Historic Site.
  • Support the goals and ideals of Better Hearing and Speech Month.
  • Recognize the Ellis Island Medal of Honor.
  • Name courthouse after Thurgood Marshall.
  • Name courthouse after James L. Watson.
  • Name post office after Jonn A. O’Shea.
  • Designate Aug. 7, 2003, as National Purple Heart Recognition Day.
  • Support the goals and ideals of National Purple Heart Recognition Day.
  • Honor the life and legacy of Alexander Hamilton on the bicentennial of his death.
  • Congratulate the Syracuse Univ. Orange Men’ s Lacrosse Team on winning the championship.
  • Congratulate the Le Moyne College Dolphins Men’s Lacrosse Team on winning the championship.
  • Establish the 225th Anniversary of the American Revolution Commemorative Program.
  • Name post office after Sergeant Riayan A. Tejeda.
  • Honor Shirley Chisholm for her service to the nation and express condolences on her death.
  • Honor John J. Downing, Brian Fahey, and Harry Ford, firefighters who lost their lives on duty.
  • Only five of Clinton’s bills are more substantive. 16. Extend period of unemployment assistance to victims of 9/11. 17. Pay for city projects in response to 9/11 18. Assist landmine victims in other countries. 19. Assist family caregivers in accessing affordable respite care. 20. Designate part of the National Forest System in Puerto Rico as protected in the wilderness preservation system.

    There you have it, the facts straight from the Senate Record.

    Now, I would post those of Obama’s, but the list is too substantive, so I’ll mainly categorize. During Obama’s first (8) eight years of his elected service he sponsored over 820 bills. He introduced:

    233 regarding healthcare reform, 125 on poverty and public assistance, 112 crime fighting bills, 97 economic bills, 60 human rights and anti-discrimination bills, 21 ethics reform bills, 15 gun control, 6 veterans affairs and many others.

    His FIRST YEAR in the U.S. Senate, he authored 152 bills and co-sponsored another 427. These included:|

    *the Coburn-Obama Government Transparency Act of 2006 (became law), *The Lugar-Obama Nuclear Non-proliferation and Conventional Weapons Threat Reduction Act, (became law), *The Comprehensive Immigration Reform Act, passed the Senate, *The 2007 Government Ethics Bill, (became law), **The Protection Against Excessive Executive Compensation Bill, (In committee), and many more.

    ..***********

    Judicial Watch Releases Records Re: Hillary’s Health Care Reform Plan Internal Memos Detail Creation of Government “Interest Group Database” to Collect Personal Data on Health Care Debate Activists

    (Washington, DC) – Judicial Watch, the public interest group that investigates and prosecutes government corruption, today released records obtained from the Clinton Presidential Library related to the National Taskforce on Health Care Reform, a “cabinet-level” task force chaired by former First Lady Hillary Rodham Clinton during the Clinton administration. Specifically, these documents come from the White House Health Care Interdepartmental Working Group.

    Among the highlights of the documents released by Judicial Watch:

    • A June 18, 1993 internal Memorandum entitled, “A Critique of Our Plan,” authored by someone with the initials “P.S.,” makes the startling admission that critics of Hillary’s health care reform plan were correct: “I can think of parallels in wartime, but I have trouble coming up with a precedent in our peacetime history for such broad and centralized control over a sector of the economy …Is the public really ready for this?… none of us knows whether we can make it work well or at all…”

    • A “Confidential” May 26, 1993 Memorandum from Senator Jay Rockefeller (D-WV) to Hillary Clinton entitled, “Health Care Reform Communications,” which criticizes Hillary’s Task Force as a “secret cabal of Washington policy ‘wonks’” that has engaged in “choking off information” from the public regarding health care reform. The memorandum suggests that Hillary Clinton “use classic opposition research” to attack those who were excluded by the Clinton Administration from Task Force deliberations and to “expose lifestyles, tactics and motives of lobbyists” in order to deflect criticism. Senator Rockefeller also suggested news organizations “are anxious and willing to receive guidance [from the Clinton Administration] on how to time and shape their [news] coverage.”

    • A February 5, 1993 Draft Memorandum from Alexis Herman and Mike Lux detailing the Office of Public Liaison’s plan for the health care reform campaign. The memorandum notes the development of an “interest group data base” detailing whether or not organizations “support(ed) us in the election.” The database would also track personal information about interest group leaders, such as their home phone numbers, addresses, “biographies, analysis of credibility in the media, and known relationships with Congresspeople.”

    These records released by Judicial Watch were obtained from the approximately 13,000 records made publicly available by the Clinton Library. The National Archives admits there may be an additional 3,022,030 textual records, 2,884 pages of electronic records, 1,021 photographs, 3 videotapes and 3 audiotapes related to the Task Force that the Clintons are withholding indefinitely from the public. On November 2, 2007 Judicial Watch filed a lawsuit with the U.S. District Court for the District of Columbia against the National Archives to force the release of all the Task Force records.

    “These documents paint a disturbing picture of how Hillary Clinton and the Clinton administration approached health care reform – secrecy, smears, and the misuse of government computers to track private and political information on citizens,” said Judicial Watch President Tom Fitton. “There are millions more documents that the Clinton Library has yet to release. The Clintons continue to play games and pretend they have nothing to do with this delay of the rest of these documents being released. The Clintons should get out of the way and authorize the release of these records now.”

    To read about Judicial Watch’s pursuit of other Clinton era documents click here.

    Clinton Library Documents

    By Craig

    February 18, 2008 9:23 AM | Link to this

    Hey catlady - of course, the answer is easy - continue borrowing from our children - who cares about them anyway. I guess I’m getting old - balancing the budget used to be one of those defining conservative principles that Jim and jbm like to talk about.

    By catlady

    February 18, 2008 9:24 AM | Link to this

    What WOULDN’T this man promise?

    By Apocalypse

    February 18, 2008 9:24 AM | Link to this

    On March 4th, Texas Republicans and Independents will have an opportunity to end Hillary Clinton’s (and Bill’s) presidential ambitions once and for all!

    Since Texas has on open primary, Republicans and Independents should sign in at their polling place and request a Democratic ballot. They should then vote for Barack Obama. Even James Carville admits that if Hillary loses Texas, “she’s done!” Republicans can help make this a reality!!! Just think, no more Clintons in the White House!

    Voting Democratic this one time will have NO effect on your ability to vote in the next Republican primary or obviously on your vote in November. Since John McCain has the Republican nomination locked up, voting for McCain or Huckabee at this point will have no effect on the outcome on the Republican side.

    After you vote during early voting or on March 4th, you ARE NOT done! Report back to your regular polling place at 7PM on March 4th to sign the Barack Obama list for caucus delegates. In a little known Texas voting quirk, 67 delegates to the Democratic convention will be seated because of these caucuses. This is a full one-third of the total number of Texas delegates. For Hillary to lose, she has to lose the primary votes AND the caucus votes.

    I urge you to vote against Hillary Clinton by voting for Barack Obama. Please forward this e-mail to all your Texas Republican and Independent friends so that we can help ensure the Clinton’s defeat on March 4th!!!

    By The NeoCoot

    February 18, 2008 9:24 AM | Link to this

    If we can just get Sen. McCain on the right track regarding the illegal immigrants, he just might make a good President yet.

    Im just happy things are looking so good for McCain. Obama and Hitlary will continue to tear each other down, by the general election neither will have much left. The democrats thought they could just waltz in and steal the oval office. Not so fast liberals.

    God wants a republican in the White House at this time. He knows its crucial to this time in history to have strength in power, not weak cowardly and sinful characters. McCain will stay strong protecting us, but also crack down on the big spending and outright thievery that goes on with those damned earmarks.

    McCain in 2008 !!

    By Abomi Nation

    February 18, 2008 9:26 AM | Link to this

    Earmark spending is a drop in the bucket.

    This years defense budget is 514 billion dollars, when all is said and done it will be more like 715 billion.

    Catlady asks the question that needs to be answered, how are you going to pay for it????????

    Its easy saying “no new taxes,” its irresponsible to say nothing about how this is possible in the real world of 100 year wars.

    Go ahead and end your earmarks. LOL, that will do the trick.

    By Phyllis Sweet

    February 18, 2008 9:27 AM | Link to this

    McCain is not bound by the pledge of no new taxes at all. Didn’t anybody notice that he didn’t say, “Read my Lips” first? That’s like not saying Mother May I, or Simon sez. You’re out of the game.

    I know what you’re thinking: Bush Sr. said read my lips and he still raised taxes. Yes, but he was biting his lip when he raised taxes which totally cancelled out the rule.

    Besides, it’s an Obama landslide no matter how large McCain’s deficit projections go. No backs. no viceversas. but a lot of changies……

    By .

    February 18, 2008 9:29 AM | Link to this

    No new taxes eh? I guess that means he can always repeal old tax cuts and bring back old taxes…we need to do something to get the country out of bankruptcy…

    By Jose Vasconcelos Calderon

    February 18, 2008 9:35 AM | Link to this

    The Yanqui Tony Roberts fails to understand how very foolish both the editorialists of this newspaper and the legislators of your American state appear to an outsider who cares deeply about public education.

    Like them, the Political Papagayo can only spout psittacine platitudes of hope and change, without knowing what is to be hoped for, or what changed.

    Despite their artificial differences, they are all foolish Yanquis sinking aboard the same obsolete ships. In my beloved Nacion Cosmica, we watched with interest as the Spanish American War was decided in less than an hour when the ridiculously once-great Spanish fleet was blown to splinters by the modern American navy.

    Today it is that once-great navy which is ridiculous. How foolish it is of you Yanquis to put your children aboard that fleet.

    My powerful Yanqui friends, your Mr. Jefferson was right: it has been too long since you have had yourselves a good revolution. Unfortunately, if you come to see why he was right, your discovery will have come more than 180 years after Senor Jefferson’s warning to you.

    By Dennis

    February 18, 2008 9:37 AM | Link to this

    Mr. Wooten writes, “Having heard the Democrats on taxes and spending, it doesn’t take much for McCain to close the deal with me.”

    What Mr. Wooten doesn’t want to say it that with a pledge like this McCain will be just another GWB, borrowing money from foreign countries to pay for his “no tax”/tax breaks” for corporations and the already rich.

    In addition, if the tax breaks the corporations have been given in the past seven plus years had been invested in this country rather than over seas, this country would not now be experiencing the financial mess that it’s in.

    Some of it, maybe. But not all of it.

    Mr. Wooten pushes a little more of his brand of propaganda and fear that government might grant to many personal liberties to the American people “…along with his earlier promise to appoint strict constructionist judges, fills the bill.”

    Not all of us, Mr. Wooten, are so afraid of life that we want “strict constructionist” government to determine our personal freedoms for us.

    You don’t have to be a blind conservative not to see it, just an ignorant one to deny it.

    By Apocalypse

    February 18, 2008 9:41 AM | Link to this

    Barack Obama’s Plan Shine the Light on Washington Lobbying Centralize Ethics and Lobbying Information for Voters: Obama will create a centralized Internet database of lobbying reports, ethics records, and campaign finance filings in a searchable, sortable and downloadable format. Require Independent Monitoring of Lobbying Laws and Ethics Rules: Obama will use the power of the presidency to fight for an independent watchdog agency to oversee the investigation of congressional ethics violations so that the public can be assured that ethics complaints will be investigated. Support Campaign Finance Reform: Obama supports public financing of campaigns combined with free television and radio time as a way to reduce the influence of moneyed special interests. Obama introduced public financing legislation in the Illinois State Senate, and is the only 2008 candidate to have sponsored Senator Russ Feingold’s (D-WI) tough bill to reform the presidential public financing system. Shine the Light on Federal Contracts, Tax Breaks and Earmarks Create a Public “Contracts and Influence” Database: As president, Obama will create a “contracts and influence” database that will disclose how much federal contractors spend on lobbying, and what contracts they are getting and how well they complete them. Expose Special Interest Tax Breaks to Public Scrutiny: Barack Obama will ensure that any tax breaks for corporate recipients — or tax earmarks — are also publicly available on the Internet in an easily searchable format. End Abuse of No-Bid Contracts: Barack Obama will end abuse of no-bid contracts by requiring that nearly all contract orders over $25,000 be competitively awarded. Sunlight Before Signing: Too often bills are rushed through Congress and to the president before the public has the opportunity to review them. As president, Obama will not sign any non-emergency bill without giving the American public an opportunity to review and comment on the White House website for five days. Shine Light on Earmarks and Pork Barrel Spending: Obama’s Transparency and Integrity in Earmarks Act will shed light on all earmarks by disclosing the name of the legislator who asked for each earmark, along with a written justification, 72 hours before they can be approved by the full Senate. Bring Americans Back into their Government Hold 21st Century Fireside Chats: Obama will bring democracy and policy directly to the people by requiring his Cabinet officials to have periodic national broadband townhall meetings to discuss issues before their agencies. Make White House Communications Public: Obama will amend executive orders to ensure that communications about regulatory policymaking between persons outside government and all White House staff are disclosed to the public. Conduct Regulatory Agency Business in Public: Obama will require his appointees who lead the executive branch departments and rulemaking agencies to conduct the significant business of the agency in public, so that any citizen can see in person or watch on the Internet these debates. Release Presidential Records: Obama will nullify the Bush attempts to make the timely release of presidential records more difficult. Free the Executive Branch from Special Interest Influence Close the Revolving Door on Former and Future Employers: No political appointees in an Obama administration will be permitted to work on regulations or contracts directly and substantially related to their prior employer for two years. And no political appointee will be able to lobby the executive branch after leaving government service during the remainder of the administration. Free Career Officials from the Influence of Politics: Obama will issue an executive order asking all new hires at the agencies to sign a form affirming that no political appointee offered them the job solely on the basis of political affiliation or contribution. Reform the Political Appointee Process: FEMA Director Michael Brown was not qualified to head the agency, and the result was a disaster for the people of the Gulf Coast. But in an Obama administration, every official will have to rise to the standard of proven excellence in the agency’s mission. Barack Obama’s Record: Federal Ethics Reform: Obama and Senator Feingold (D-WI) took on both parties and proposed ethics legislation that was described as the “gold standard” for reform. It was because of their leadership that ending subsidized corporate jet travel, mandating disclosure of lobbyists’ bundling of contributions, and enacting strong new restrictions of lobbyist-sponsored trips became part of the final ethics bill that was signed into law. The Washington Post wrote in an editorial, “The final package is the strongest ethics legislation to emerge from Congress yet.” Google for Government: Americans have the right to know how their tax dollars are spent, but that information has been hidden from public view for too long. That’s why Barack Obama and Senator Tom Coburn (R-OK) passed a law to create a Google-like search engine to allow regular people to approximately track federal grants, contracts, earmarks, and loans online. The Chicago Sun-Times wrote, “It would enable the public to see where federal money goes and how it is spent. It’s a brilliant idea.” Illinois Reform: In 1998, Obama joined forces with former U.S. Sen. Paul Simon (D-IL) to pass the toughest campaign finance law in Illinois history. The legislation banned the personal use of campaign money by Illinois legislators and banned most gifts from lobbyists. Before the law was passed, one organization ranked Illinois worst among 50 states for its campaign finance regulations. A High Standard: Unlike other candidates Obama’s campaign refuses to accept contributions from Washington lobbyists and political action committees.

    By Apocalypse

    February 18, 2008 9:43 AM | Link to this

    Barack Obama’s Plan Ending the War in Iraq Judgment You Can Trust: As a candidate for the United States Senate in 2002, Obama put his political career on the line to oppose going to war in Iraq, and warned of “an occupation of undetermined length, with undetermined costs, and undetermined consequences.” Obama has been a consistent, principled and vocal opponent of the war in Iraq: In 2003 and 2004, he spoke out against the war on the campaign trail; In 2005, he called for a phased withdrawal of our troops; In 2006, he called for a timetable to remove our troops, a political solution within Iraq, and aggressive diplomacy with all of Iraq’s neighbors; In January 2007, he introduced legislation in the Senate to remove all of our combat troops from Iraq by March 2008. In September 2007, he laid out a detailed plan for how he will end the war as president. Bring Our Troops Home: Obama will immediately begin to remove our troops from Iraq. He will remove one to two combat brigades each month, and have all of our combat brigades out of Iraq within 16 months. Obama will make it clear that we will not build any permanent bases in Iraq. He will keep some troops in Iraq to protect our embassy and diplomats; if al Qaeda attempts to build a base within Iraq, he will keep troops in Iraq or elsewhere in the region to carry out targeted strikes on al Qaeda. Press Iraq’s leaders to reconcile: The best way to press Iraq’s leaders to take responsibility for their future is to make it clear that we are leaving. As we remove our troops, Obama will engage representatives from all levels of Iraqi society – in and out of government – to seek a new accord on Iraq’s Constitution and governance. The United Nations will play a central role in this convention, which should not adjourn until a new national accord is reached addressing tough questions like federalism and oil revenue-sharing. Regional Diplomacy: Obama will launch the most aggressive diplomatic effort in recent American history to reach a new compact on the stability of Iraq and the Middle East. This effort will include all of Iraq’s neighbors – including Iran and Syria. This compact will aim to secure Iraq’s borders; keep neighboring countries from meddling inside Iraq; isolate al Qaeda; support reconciliation among Iraq’s sectarian groups; and provide financial support for Iraq’s reconstruction. Humanitarian Initiative: Obama believes that America has a moral and security responsibility to confront Iraq’s humanitarian crisis – two million Iraqis are refugees; two million more are displaced inside their own country. Obama will form an international working group to address this crisis. He will provide at least $2 billion to expand services to Iraqi refugees in neighboring countries, and ensure that Iraqis inside their own country can find a safe-haven. Iran The Problem: Iran has sought nuclear weapons, supports militias inside Iraq and terror across the region, and its leaders threaten Israel and deny the Holocaust. But Obama believes that we have not exhausted our non-military options in confronting this threat; in many ways, we have yet to try them. That’s why Obama stood up to the Bush administration’s warnings of war, just like he stood up to the war in Iraq. Opposed Bush-Cheney Saber Rattling: Obama opposed the Kyl-Lieberman amendment, which says we should use our military presence in Iraq to counter the threat from Iran. Obama believes that it was reckless for Congress to give George Bush any justification to extend the Iraq War or to attack Iran. Obama also introduced a resolution in the Senate declaring that no act of Congress – including Kyl-Lieberman – gives the Bush administration authorization to attack Iran. Diplomacy: Obama is the only major candidate who supports tough, direct presidential diplomacy with Iran without preconditions. Now is the time to pressure Iran directly to change their troubling behavior. Obama would offer the Iranian regime a choice. If Iran abandons its nuclear program and support for terrorism, we will offer incentives like membership in the World Trade Organization, economic investments, and a move toward normal diplomatic relations. If Iran continues its troubling behavior, we will step up our economic pressure and political isolation. Seeking this kind of comprehensive settlement with Iran is our best way to make progress. Renewing American Diplomacy The Problem: The United States is trapped by the Bush-Cheney approach to diplomacy that refuses to talk to leaders we don’t like. Not talking doesn’t make us look tough – it makes us look arrogant, it denies us opportunities to make progress, and it makes it harder for America to rally international support for our leadership. On challenges ranging from terrorism to disease, nuclear weapons to climate change, we cannot make progress unless we can draw on strong international support. Talk to our Foes and Friends: Obama is willing to meet with the leaders of all nations, friend and foe. He will do the careful preparation necessary, but will signal that America is ready to come to the table, and that he is willing to lead. And if America is willing to come to the table, the world will be more willing to rally behind American leadership to deal with challenges like terrorism, and Iran and North Korea’s nuclear programs. Israeli-Palestinian Conflict: Obama will make progress on the Israeli-Palestinian conflict a key diplomatic priority. He will make a sustained push – working with Israelis and Palestinians – to achieve the goal of two states, a Jewish state in Israel and a Palestinian state, living side by side in peace and security. Expand our Diplomatic Presence: To make diplomacy a priority, Obama will stop shuttering consulates and start opening them in the tough and hopeless corners of the world – particularly in Africa. He will expand our foreign service, and develop the capacity of our civilian aid workers to work alongside the military. Fight Global Poverty: Obama will embrace the Millennium Development Goal of cutting extreme poverty around the world in half by 2015, and he will double our foreign assistance to $50 billion to achieve that goal. He will help the world’s weakest states to build healthy and educated communities, reduce poverty, develop markets, and generate wealth. Strengthen NATO: Obama will rally NATO members to contribute troops to collective security operations, urging them to invest more in reconstruction and stabilization operations, streamlining the decision-making processes, and giving NATO commanders in the field more flexibility. Seek New Partnerships in Asia: Obama will forge a more effective framework in Asia that goes beyond bilateral agreements, occasional summits, and ad hoc arrangements, such as the six-party talks on North Korea. He will maintain strong ties with allies like Japan, South Korea and Australia; work to build an infrastructure with countries in East Asia that can promote stability and prosperity; and work to ensure that China plays by international rules. Nuclear Weapons A Record of Results: The gravest danger to the American people is the threat of a terrorist attack with a nuclear weapon and the spread of nuclear weapons to dangerous regimes. Obama has taken bipartisan action to secure nuclear weapons and materials: He joined Senator Dick Lugar in passing a law to help the United States and our allies detect and stop the smuggling of weapons of mass destruction throughout the world. He joined Senator Chuck Hagel to introduce a bill that seeks to prevent nuclear terrorism, reduce global nuclear arsenals, and stop the spread of nuclear weapons. And while other candidates have insisted that we should threaten to drop nuclear bombs on terrorist training camps, Obama believes that we must talk openly about nuclear weapons – because the best way to keep America safe is not to threaten terrorists with nuclear weapons, it’s to keep nuclear weapons away from terrorists. Secure Loose Nuclear Materials from Terrorists: Obama will secure all loose nuclear materials in the world within four years. While we work to secure existing stockpiles of nuclear material, Obama will negotiate a verifiable global ban on the production of new nuclear weapons material. This will deny terrorists the ability to steal or buy loose nuclear materials. Strengthen the Nuclear Non-Proliferation Treaty: Obama will crack down on nuclear proliferation by strengthening the Nuclear Non-Proliferation Treaty so that countries like North Korea and Iran that break the rules will automatically face strong international sanctions. Toward a Nuclear Free World: Obama will set a goal of a world without nuclear weapons, and pursue it. Obama will always maintain a strong deterrent as long as nuclear weapons exist. But he will take several steps down the long road toward eliminating nuclear weapons. He will stop the development of new nuclear weapons; work with Russia to take U.S. and Russian ballistic missiles off hair trigger alert; seek dramatic reductions in U.S. and Russian stockpiles of nuclear weapons and material; and set a goal to expand the U.S.-Russian ban on intermediate- range missiles so that the agreement is global. Building a 21st Century Military The Problem: The excellence of our military is unmatched. But as a result of a misguided war in Iraq, our forces are under pressure as never before. Obama will make the investments we need so that the finest military in the world is best-prepared to meet 21st-century threats. Rebuild Trust: Obama will rebuild trust with those who serve by ensuring that soldiers and Marines have sufficient training time before they are sent into battle. Expand the Military: We have learned from Iraq that our military needs more men and women in uniform to reduce the strain on our active force. Obama will increase the size of ground forces, adding 65,000 soldiers to the Army and 27,000 Marines. New Capabilities: Obama will give our troops new equipment, armor, training, and skills like language training. He will also strengthen our civilian capacity, so that our civilian agencies have the critical skills and equipment they need to integrate their efforts with our military. Strengthen Guard and Reserve: Obama will restore the readiness of the National Guard and Reserves. He will permit them adequate time to train and rest between deployments, and provide the National Guard with the equipment they need for foreign and domestic emergencies. He will also give the Guard a seat at the table by making the Chief of the National Guard a member of the Joint Chiefs of Staff. Bipartisanship and Openness The Problem: Under the Bush administration, foreign policy has been used as a political wedge issue to divide us – not as a cause to bring America together. And it is no coincidence that one of the most secretive administrations in history has pursued policies that have been disastrous for the American people. Obama strongly believes that our foreign policy is stronger when Americans are united, and the government is open and candid with the American people. A Record of Bringing People Together: In the Senate, Obama has worked with Republicans and Democrats to advance important policy initiatives on securing weapons of mass destruction and conventional weapons, increasing funding for nonproliferation, and countering instability in Congo. Consultative Group: Obama will convene a bipartisan Consultative Group of leading members of Congress to foster better executive-legislative relations and bipartisan unity on foreign policy. This group will be comprised of the congressional leadership of both political parties, and the chair and ranking members of the Armed Services, Foreign Relations, Intelligence, and Appropriations Committees. This group will meet with the president once a month to review foreign policy priorities, and will be consulted in advance of military action. Getting Politics out of Intelligence: Obama would insulate the Director of National Intelligence from political pressure by giving the DNI a fixed term, like the Chairman of the Federal Reserve. Obama will seek consistency and integrity at the top of our intelligence community – not just a political ally. Change the Culture of Secrecy: Obama will reverse President Bush’s policy of secrecy. He will institute a National Declassification Center to make declassification secure but routine, efficient, and cost-effective. Engaging the American People on Foreign Policy: Obama will bring foreign policy decisions directly to the people by requiring his national security officials to have periodic national broadband town hall meetings to discuss foreign policy. He will personally deliver occasional fireside chats via webcast. On Israel Ensure a Strong U.S.-Israel Partnership: Barack Obama strongly supports the U.S.-Israel relationship, believes that our first and incontrovertible commitment in the Middle East must be to the security of Israel, America’s strongest ally in the Middle East. Obama supports this closeness, stating that that the United States would never distance itself from Israel. Support Israel’s Right to Self Defense: During the July 2006 Lebanon war, Barack Obama stood up strongly for Israel’s right to defend itself from Hezbollah raids and rocket attacks, cosponsoring a Senate resolution against Iran and Syria’s involvement in the war, and insisting that Israel should not be pressured into a ceasefire that did not deal with the threat of Hezbollah missiles. He believes strongly in Israel’s right to protect its citizens. Support Foreign Assistance to Israel: Barack Obama has consistently supported foreign assistance to Israel. He defends and supports the annual foreign aid package that involves both military and economic assistance to Israel and has advocated increased foreign aid budgets to ensure that these funding priorities are met. He has called for continuing U.S. cooperation with Israel in the development of missile defense systems.

    By Glenn

    February 18, 2008 9:48 AM | Link to this

    Aloha, jbm!

    Jim, no deal.

    If I came out and publicly promised that I would stop stealing from you, would you elect me President? Would that close the deal with you, Jim?

    By the way, when are you going to pull your conservative head out of your liberal canal and get behind an effort to restructure the delivery of education services? You get more feckless with every passing season. Methinks you’re a lib in drag. (I hesitate to speculate about the political bedroom predilections of your new heartthrob Rep. Jones.)

    Apocalypse,

    Very cool stuff on Obama. Thanks. (I’ll bring it to Dennis’ attn. also, if you don’t, as he and I had promised to swap Obamiana.

    By .

    February 18, 2008 9:49 AM | Link to this

    Apo, dude, no one is going to read verbal puke like that.

    By Apocalypse

    February 18, 2008 9:50 AM | Link to this

    That’s all for now folks. These posts are for individuals who say they don’t know the specifics of Obama’s plans.

    Tune in later for his foreign policy and fiscal policies for America……

    By Tobacco is King, Again

    February 18, 2008 9:54 AM | Link to this

    Remember, the ajc can still replace woodenhead, cindy the racist, and luckydraw with real reporters from the new york times, a hundred plus of whom have just been laid off…..

    By Apocalypse

    February 18, 2008 9:55 AM | Link to this

    P.S.

    My 9:43 is a tad bit long.

    Sorry ‘bout that.

    By .

    February 18, 2008 9:55 AM | Link to this

    Apo, I’m an Obama fan but just post a link. All that stuff runs together and most of your target audience will just blow it off.

    By Phyllis Sweet

    February 18, 2008 9:56 AM | Link to this

    Luckovich’s cartoon was a real tour d’force on Clinton’s tour d’eiffel, her wearing the french beret and all, you know it was a real head-cozy, if’n you get the drift. If I were to criticize the cartoon for accuracy, I’d have to say that Monica wouldn’t have had so much lipstick left.

    Obama landslide. Isn’t it time to give the BJ a rest? Are we all titillated enough yet now that we’ve got elementary kids talking about it on the school buses?

    Can we address some real problems like where is OBL? You wont see any of his interns wearing a beret I can tell you that right now.

    By Tobacco is King, Again

    February 18, 2008 10:02 AM | Link to this

    The next president will be helpless: the dollar will be virtually worthless on foreign markets: the unemployment rate will be 25% and growing: oil will no longer be priced in dollars: imported oil will be out of reach of most americans: food prices will be very high and rising daily: there will be rioting from one end of the country to the other: the federqal printing presses will run day and night, producing currency that is worth less than the paper it is printed on. Thanks Georga, Al, and you neocon traitors out there…

    By Abomi Nation

    February 18, 2008 10:02 AM | Link to this

    Jim any way you can control all the spam that nobody reads? Can all the crazy people be confined to the Luckovich blog?

    Later

    By Phyllis Sweet

    February 18, 2008 10:12 AM | Link to this

    Obama Lanslide!

    By Phyllis Sweet

    February 18, 2008 10:13 AM | Link to this

    Obama Lanslide!

    By Phyllis Sweet

    February 18, 2008 10:13 AM | Link to this

    Obama Lanslide!

    By Phyllis Sweet

    February 18, 2008 10:13 AM | Link to this

    Obama Lanslide!

    By Glenn

    February 18, 2008 10:14 AM | Link to this

    Well I’m interested in the curriculum vitae, AporiginalNot, but I can look up his staff’s policy palaver on the website as easily as I can read that stuff here.

    And somewhat more than incidentally, it’s not “Obama’s Plan” that you’re spamming us with. Strictly speaking it’s your republication of a hearsay account of what Obama’s “plan” is, if indeed that plan exists at all in the head of the actual candidate, because even though you’ve pasted it from his putatively “official” website, the webmeisters of that site are so amateurish as to state these prolix “plans” of “Obama’s” in the Third Person; e.g. “Obama wants to do this” and “Obama doesn’t believe that”.

    When it comes from Obama, then you’d be doing just fine to pitch it to us as his. In the meantime you’re regurgitating for our consumption that which was premasticated for you by the wrong species in the first place. So if you’re on friendly terms with those dodos, you might suggest that they take off their beaks and ask their candidate to sign off on their stuff, which sign-off would be more than amply demonstrated to the voting public by the quaint gesture of Mr. Obama’s deigning to speak directly to the blog’s visitors to tell us of his plans, as signified by the universal code, the First Person Singular.

    Got it? Because alternatively, he could send them packing back to Geffen or wherever he got them and hire a team of adults.

    By Phyllis Sweet

    February 18, 2008 10:20 AM | Link to this

    Obama Landslide. New America.

    By Phyllis Sweet

    February 18, 2008 10:20 AM | Link to this

    Obama Landslide. New America.

    By Phyllis Sweet

    February 18, 2008 10:20 AM | Link to this

    Obama Landslide. New America.

    By Phyllis Sweet

    February 18, 2008 10:20 AM | Link to this

    Obama Landslide. New America.

    By Apocalypse

    February 18, 2008 10:26 AM | Link to this

    Glenn,

    I’ll remember the next time Obama and I have lunch to ask him to video record himself on a tape recorder so that I can then repeat first hand what his policies are and post what he said to me so that you will be satisfied.

    I foolishly assume that the mechanism by which we get all of our info concerning the candidates was good enough for you.

    Sorry ‘bout that.

    By Glenn

    February 18, 2008 10:33 AM | Link to this

    And don’t you forget it.

    By Glenn

    February 18, 2008 10:38 AM | Link to this

    Yaaaaaay!

    I beat Apocalypse! This gay thing hasn’t taken away my manhood after all.

    By Glenn

    February 18, 2008 10:41 AM | Link to this

    No, Apocalypse, it’s the mechanism by which you get “all” your “info concerning the candidates.” Pathetic, that.

    Also pathetic that the designers of Obama’s website, together with his old staff, were too arrogant and too callow to make the play in hand: to draft the text of “Obama’s” site so that the candidate speaks directly to the voter, and speaks for himself. It’s not a big deal, but it is telling, and all the more so when you republish it, taking the bait that it is Obama’s stuff when it isn’t.

    If you have any connection to the campaign whatever, then presumably you can let his muffins know that they’re romping in his Kindergarten class at his expense. If you do not have such a connection, then what value are you adding by pasting the putative Obamagrams here?

    Should you seek such a connection, the better to inform us, then I’d suggest that you contribute enough cash to that campaign to warrant their listening or responding to a sensible and straightforward suggestion from a lone voter.

    By Mid-South Philosopher

    February 18, 2008 10:43 AM | Link to this

    Good morning, Jim,

    Alas, I remember another corporatist Republican who made that glorious pronouncement…No New Taxes!

    I would feel much better about McCain, if he talked a little bit about true tax reform.

    We shall see, but just to be on the safe side, keep the Vaseline handy.

    By Apocalypse

    February 18, 2008 10:47 AM | Link to this

    Gee thanks Glenn.

    What else do you want to impress us with?

    By Dusty

    February 18, 2008 10:53 AM | Link to this

    McCain is proving his worth to be President, with these wise pronouncements on taxes. The libs had better get ready to be disappointed again come November and be prepared for another eight-year assault of lies against another Republican President.

    And, Glenn, did you have to eat yellow cornflakes this morning? Cheer up! Life is good! The future for libs looks mighty bleak.

    By Tobacco is King, Again

    February 18, 2008 10:58 AM | Link to this

    When the libs win in November, what say we all get together and hang dusty…..

    By Glenn

    February 18, 2008 10:59 AM | Link to this

    Evidently polymoron is namejacking me again. And I don’t know what has caused his homophobia to flare, but the answer to your question is whatever I choose, Apocalypse. Whatever I fecking well choose, and if you’re shallow enough to be impressed, that is a very personal problem of yours I’m sure.

    By Dennis

    February 18, 2008 11:00 AM | Link to this

    Sweet Phyliss and others will do well to remember that 99% all of our impressions of “candidates” are concoctions of the propaganda machines and the media.

    And beside that, Americans do not chose their candidates, that’s already done for them.

    What Americans do is reaffirm the candicacy of one over another.

    The “another” is chosen for you by corporations.

    Don’t you wish the ideals you were taught in your high school civics classes were the real thing….

    You don’t have to be a blind conservative not to see it, just an ignorant one to deny it.

    By getalife

    February 18, 2008 11:01 AM | Link to this

    “McCain’s Advisors: Don’t Appear Too Close To Bush”

    Too late for that and the green zone in Iraq is under attack.

    Guess what?

    FISA expired and we did not die.

    The spy is falling, the spy is falling!

    Sniveling cowards.

    By The Desk of John McCain, War Hero

    February 18, 2008 11:07 AM | Link to this

    Dear Jim Wooten:

    I am so glad to welcome you aboard! I can’t thank you enough for your support!

    It’s time for us “common sense conservatives” to join together to win this election for me. As you know, not every lunatic right-wing so-called conservative voter is convinced as easily as you were by my promises on your two favorite issues.

    Too many today fail to understand that a half-bright Republican has got to run with Democrats, for years and years if necessary, if he’s to have a shot at winning the White House for their party. But you understand the realities of the game, and for that I thank you. Clearly all those years wasted in the galleries and hearing rooms of the Georgia State Capitol have stood you in good stead. I’m proud to call you a supporter, the newest member of Team War Hero.

    For a few days there, my friend, I was afraid that I’d have to promise to stop raping your daughter just to get you to see the light. But as it stands, no harm no foul, eh, old friend?

    Eh-eh.

    By Bart King

    February 18, 2008 11:07 AM | Link to this

    That’s polimoron to you, pal.

    By TW

    February 18, 2008 11:08 AM | Link to this

    If McCain can really ‘inspire’ like he has proudly stated, why does he need to buy votes with ‘no new taxes’?

    Mute point.

    Gladly accepting Bush’s stench nails his political coffin shut. Let those who cling to failure be forever known as the real culprits in the murder of conservatism.

    By Craig

    February 18, 2008 11:15 AM | Link to this

    Nah Tobacco, we need to keep her around - just for the comic relief. Eight more years of the Bush-McCain Administration! Now there’s a winning strategy!

    By Dusty

    February 18, 2008 11:22 AM | Link to this

    I see that I’ve been here already. NOT! PoFo is out of school for President’s Day and namejacking already.

    Maybe you can hang PoFo your tobacco Highness? Now that would be soemthing worthwhile!

    By Curious Observer

    February 18, 2008 11:24 AM | Link to this

    Glad to see ol’ “read my lips” endorse “100 years in Iraq” McCain this morning, while McCain praised Dubya in response to a question.

    He just threw away 73% of the vote. Maybe the Republicans can figure a way to cancel the general election in November, pleading the Dustyian “we’re at war” argument. That’s the only way a Republican will be in the White House at the end of next January.

    Maybe Redneck Convert should have stayed in the race. Even he could beat McCain.

    By Glenn

    February 18, 2008 11:28 AM | Link to this

    My apologies. It’s “Polimoron”. You’re quite correct.

    Dennis,

    Powerful, direct and true, yours. Why do they not get that? Why do they pretend to the cynicism that would lead one perpetually to distrust all politicians, and then put on their bobbysox for Barack?

    Dusty,

    I’m quite cheerful, thank you. I just happen to think that our work just now is destructive, whereas you, having found your candidate, have decided that it is time to be constructive. I respect your conclusion. If you don’t respect mine, that’s OK.

    getalife,

    What makes your Kosbots and MoveBowels think that the Commander in Chief did not have a finding in the safe contingent upon your party’s foolhardy worship of the sunset of (portions of) FISA? It it because they better than anyone would know whether the defenders of the nation’s security have slackened their vigilance as a result of your party’s inaction?

    By getalife

    February 18, 2008 11:45 AM | Link to this

    On this President’s Day, I would like to express President Clinton’s great victory in Kosovo, since the blogs and the corporate media hate too much to congratulate him and America:

    In declaring independence, Kosovo’s prime minister, Hashim Thaci, a former leader of the guerrilla force that just over 10 years ago began an armed rebellion against Serbian domination, struck a note of reconciliation. Addressing Parliament in both Albanian and Serbian, he pledged to protect the rights of Kosovo’s Serbian minority. “I feel the heartbeat of our ancestors,” he said. “We, the leaders of our people, democratically elected, through this declaration proclaim Kosovo an independent and sovereign state.”

    Meanwhile, w is in Afica.

    By Dennis

    February 18, 2008 11:47 AM | Link to this

    By Glenn February 18, 2008 11:28 AM “Dennis, Powerful, direct and true, yours. Why do they not get that? Why do they pretend to the cynicism that would lead one perpetually to distrust all politicians, and then put on their bobbysox for Barack?”

    Shhhh…. Don’t tell Jim Wooten.

    You don’t have to be a blind conservative not to see it, just an ignorant one to deny it.

    By No more posts

    February 18, 2008 12:18 PM | Link to this

    Just filling in because of the half-hour gap. Feel free to jump in the water folks.

    By OneForTheRoad

    February 18, 2008 12:20 PM | Link to this

    More old taxes. No. Wait a minute. That didn’t come out right. How about less spending to go along with that No new taxes. Anyway, I am starting to warm to McCain as well. He can still blow it though if he hints that Huckabee is on his short list for V.P. I’d have to write in SpiderPig (Dusty, I stole that word from Homer Simpson.).

    Glenn, I was catching up on some reading from yesterday’s topic and noticed that you were really getting into the education thing. I think you are also the one that has posted about pushing the rock uphill in the past. Well, I think that rock is just getting bigger and the hill is getting steeper. I wish you the best in making some headway there. Anyway, I was told by a neighbor of mine that he was trying to get the commissioners to pave part of our road and a commissioner told him that they could not do anything without first getting a deed to some land from someone up the street (that was a lie but that’s for another story). The commissioner apparently told my neighbor that he would just have to wait until this other person died and hope that the new owner would be willing to work with them (I have long since ceased to be alarmed at the lies that some politicians and other government employees are capable of.). Well, my point is that maybe something that is the functional equivalent is needed here as well. I’m sure ready to see some change. Who do we need to vote out of office?

    By GayGreyGeek

    February 18, 2008 12:33 PM | Link to this

    OFTR @ 12:20 - Who do you need to vote out of office? How’s about starting with anyone with a “-R” after their name?

    By jm

    February 18, 2008 12:39 PM | Link to this

    Well, Senator McCain has made the easy choice with his “no new taxes” pledges. Now, let’s hear how he plans to reduce expenses. Eliminating earmarks makes for nice soundbites but they make up a relatively small percentage of the budget. Where does Senator McCain plan to swing his budget axe to bring government spending more in line? That is where the fun is.

    By jbmlaw

    February 18, 2008 12:49 PM | Link to this

    Although it is 12:45 your time, good morning all. HIDT, your work is great except for the fact that 8:23 is 3:23AM my time - too early even for me. The judicial pledge is more meaningful for me, but I am not yet fully comfortable because I am uncertain how Mr. McCain would evaluate the credentials of his judicial nominees. Certainly the no-tax pledge is meritorious. I will vote for him, and probably would vote for him even if he were only slightly-less leftist than his opposition. Headed even further South, back to you HIDT.

    By John

    February 18, 2008 12:54 PM | Link to this

    Did Hussein Obama inspire Larry Sinclair: http://therightperspectivepodcastblog.blogspot.com/2008/02/larry-sinclair-interview-excerpt.html

    By Tobacco is King, Again

    February 18, 2008 12:56 PM | Link to this

    While the children fuss about political W hores, the adults face The Facts:

    Financial Guarantee Insurance Co. (FGIC), the nation’s third largest, just lost its triple-A rating last week. Moody’s literally gutted its rating by a full six notches in one fell swoop.

    At the same time, Moody’s warned that unless FGIC can raise the needed capital, it’s ready to cut FGIC’s rating to a hair above junk.

    To underscore that it means business, Moody’s has already downgraded FGIC’s senior debt to junk, threatening to drop it to deeper junk.

    Ambac’s triple-A rating was zapped by all three major rating agencies in late January.

    Next, MBIA is on the chopping block, slated to lose its triple-A rating within a matter of days. All three of the largest bond insurers are engulfed in the mess. And all three are trapped between two major business lines — their traditional business of insuring municipal bonds against default, which is supposedly still stable … and their newer business of insuring mortgage- and debt-backed securities, which is in total disarray.

    Meanwhile, the nation’s banks and other big investors — the last hope for bond insurers — have so far failed to come forward with the needed capital.

    So, in a surprise announcement on Friday, New York Governor Eliot Spitzer threatened to intervene with massive, radical action. He said he would …

    take over the two bond insurers which are regulated by New York State — MBIA and Ambac …

    strip out all their supposedly good assets (insurance policies covering municipal securities) …

    pack away those assets in newly formed separate companies, and …

    leave behind strictly the bad assets (polices covering the disaster-plagued mortgage and debt sectors). The bankers were shocked and dismayed. Instead of being the first to hear the news as part of their intense, ongoing discussions with New York State regulators, they heard about it on CNBC. And instead of responding with fear and remorse, their primary reaction is anger and rebellion.

    What’s next? Follow along with me, and you’ll see that, like four different pathways engulfed by the same forest fire, all four likely scenarios lead to essentially the same result: Credit collapse.

    Scenario A Bank Rescue

    Despite their instincts not to get dragged into the morass, bankers and other investors come through with 11th-hour capital infusions for the bond insurers.

    Consequences: The banks take a big step closer to insolvency, creating an even broader threat to the financial system.

    Reason: The true liabilities of the bond insurers are incalculable. The potential exposure to losses is virtually unlimited. And before the bond insurance crisis, the banks were already buckling under their subprime mortgage losses.

    Scenario B No Rescues, No Takeovers

    The banks stay out. But despite his warnings, Spitzer fails to move forward promptly to take over the bond insurers.

    Consequences:The current downward spiral of the bond insurers continues unabated. MBIA, the last of the Big Three to be downgraded, loses its triple-A rating. FGIC is downgraded to junk; Ambac, to near junk. The $2.6 trillion municipal bond market virtually dies.

    Reason: When the bond insurers are downgraded, the hundreds of thousands of municipal bonds they cover are automatically downgraded — a ratings collapse that’s so massive, it can shut off the credit spigot to all city and state governments, whether insured or not.

    Scenario C New York State Takes Over

    Spitzer acts this week to take over MBIA and Ambac, promptly splitting them in half and creating new companies for each. According to plan, the pre-existing bond insurers are stuck holding the sick insurance business; the new companies get the supposedly healthy insurance business.

    Consequences: The existing bond insurers are immediately downgraded to deep junk, and that’s generous. By all reasonable measures, they are insolvent from day one. And any floating ships still remaining in the market for mortgage- and debt-backed securities are sunk.

    Meanwhile, local governments are the winners. But it’s a pyrrhic victory.

    Reason: The municipal bond market isn’t in trouble just because of what’s happening to the bond insurers. It’s also in trouble because municipal governments all over the country are suffering falling property values — and falling property tax revenues.

    By sacrificing mortgage securities for the sake of protecting municipal securities, Spitzer doesn’t do local governments any long-term favors. They depend on a healthy mortgage and real estate market to sustain their own finances. When mortgages and real estate go down, so do they.

    Scenario D Federal Bailout

    The federal government steps in to bail out the bond insurers — either with or without the plan Spitzer’s proposing. The hope is that the good credit of the U.S. Treasury uplifts the bad credit of the insurers.

    Consequences: Precisely the opposite happens. The bad credit of the bond insurers — and their boundless exposure to defaulting mortgages — drags down the good credit of the U.S. Treasury.

    Treasury notes and bonds fall in price, while their yields rise. And since 10-year Treasury-note yields are closely tied to the rates on 30-year fixed mortgages, rather than supporting the housing market, the federal government inadvertently drives it into a deeper hole with a spike in interest rates.

    Reason: The sheer volume of mortgages outstanding in America is far bigger than the volume of U.S. Treasuries.

    Moreover, with $150 billion being spent on the economic stimulus package, with inevitably huge federal deficits in a recession, and with looming seas of red ink in Medicare … the U.S. Treasury Department’s long-term credit is not exactly fool-proof.

    Bottom line: There’s no scenario that ends in a soft landing for the bond insurers. The underlying assets are rotten. The credit markets are sour. And no type of bailout — public or private — can cover up the stench.

    Meanwhile …

    At Least Five More Credit Market Sectors Are Now Collapsing

    You’ve no doubt heard about the disasters in subprime mortgages, Alt-A (intermediate quality) mortgages, prime mortgages, credit cards, auto loans and student loans.

    Now, brace yourself for five more credit sectors that are falling victim to collapse:

    The nation’s largest mortgage insurers — responsible for protecting lenders and investors from defaults on millions of homes — are being ravaged by losses. MGIC Investment Corp., swamped with claims, just posted a $1.47 billion loss. Triad Guaranty, a much smaller mortgage insurer, reported a $75 million loss.

    Municipalities, public hospitals and other institutions have been slammed by the failure of nearly 1,000 auctions for their “auction-rate” securities. Their borrowing costs have tripled and quadrupled — to 15%, 20%, even 30%. Survival money is drying up.

    Low-rated corporate bonds, which had fueled a wave of leveraged corporate buyouts in recent years, are being abandoned by investors. Their prices are plunging to the lowest levels in history. Property and casualty insurers, among those loaded with corporate bonds, are taking it on the chin.

    More hedge funds are getting slammed. CSO Partners, for example, has lost so much money and suffered such a massive run on its assets, its manager (Citigroup) was recently forced to shut the hedge fund’s doors to further withdrawals by investors.

    Commercial real estate credit is collapsing. Regional and super-regional banks are taking big hits. Life and health insurance companies will get smacked. Even some sectors of the short-term money markets are affected. Treasury-only money funds are safe. But beware of market funds that put your money in commercial paper, CDs and other non-Treasury instruments.

    The End of an Era: America Supreme No More

    By OneForTheRoad

    February 18, 2008 1:11 PM | Link to this

    GayGreyGeek,

    I have n -R after my name. It stands for Retired though. I don’t know that focusing just on the -R folks will really solve anything. How about -I for Incumbents?

    By John

    February 18, 2008 1:13 PM | Link to this

    YES HE DID!!! YES HE DID!!! YES HE DID!!!

    http://therightperspectivepodcastblog.blogspot.com/2008/02/larry-sinclair-interview-excerpt.html

    By GayGreyGeek

    February 18, 2008 1:15 PM | Link to this

    OFTR - Good point, and really was my main thought, since the preponderance of -I’s in Georgia are also -R’s. :-)

    By Dennis

    February 18, 2008 1:22 PM | Link to this

    By Tobacco is King, Again February 18, 2008 12:56 PM “While the children fuss about political W hores, the adults face The Facts:”

    Ah!, comedy at its best. The corporations “we can govern ourselves”,”we need to be free of government regulation”, “tax breaks”, “free market”.

    And when they get it, and blow it, as they have in the subprime housing market, for example, but not limited to that, they want the government to bail them out.

    They still want to call it “free enterprise”, but it’s more like “free interprize.”

    You don’t have to be a blind conservataive not to see it, just an ignorant one to deny it.

    By Jackie

    February 18, 2008 1:26 PM | Link to this

    @Tobacco Is King Again

    Dubya is presiding over the biggest financial collapse in American history. It sounds like it will be worse the crash of the 1920’s.

    By Glenn

    February 18, 2008 1:44 PM | Link to this

    catlady,

    As for whether McCain intends to pay for his liberal conception of central governance by selling the People’s first born, when he wrests the NEA endorsement from Huckabee you’ll have your answer.

    OneFer,

    Thanks for identifying that stone, that slope, those pavers. I’ve seen people rolled by that stone. And yes, the stone is getting bigger.

    It gets bigger every time someone who ought to be a blockbuster takes a convivial citizen legislator and her stupid liberal “reform” idea for a blockbuster. Frankly it gets bigger every time Jim Wooten writes about education, especially on those occasions when he quips that the latest person to make a fool of himself in public presumably is “another product of Georgia’s public schools.”

    I myself am tired of “putting my queer shoulder to the wheel”, as Ginsburg so beautifully put it, and would stop trying to help hold back the stone but for the fact that dear ones lie below.

    You ask whom to dethrone. The last elected official who was, to my knowledge, serious about educational restructuring was, of all people, Pennsylvania Governor Tom Ridge. As you know, our President Midas tapped Mr. Ridge right out of office.

    Some of the penal Olympians are abdicating on the natural. Others need to be driven from their seats with pitchforks. To my mind those persons necessarily would include Gov. Perdue, Spkr. Richardson, Reps. Jones and Casas, Sen. Pro Tem. Johnson, the education committee members and the remaining candidates for President save the idiot savant, Dr. Paul, who clearly belongs in the House.

    This answer, this destructive project, may seem grandiose and self-aggrandizing, but actually it’s largely feasible and it’s our job. It’s a straightforward and surprisingly simple matter to remove the Governor for his conspicuous and unconstitutional refusal to govern. The Senate Pro Tem and the Speaker can be toppled at any time by a simple majority of their respective colleagues, who surely would be sent running by a Governor’s recall. The two State Representatives unwittingly held up to ridicule by their prominence in this Sunday’s paper, and their colleagues on the House Education Committee, could be pulled off that committee with the stroke of the Pro Tem and the Speaker, or could be picked off one by one by any citizens’ education coalition worth a grain of backing from any deep-pockets conservative with a charitable organization. And the People of the United States will eliminate all but one of the schooled-up presidential candidates in no time.

    That leaves on person to work against: whichever remaining candidate you think likeliest to become President, assuming that that person is not Rep. Paul. And as a practical matter, the President need not be allowed to press from behind Georgia’s stone because until the Constitution is amended Georgia can always tell DC where to stick its education funding, and can then declare its financial and policy independence.

    But to do that, Georgians would have to get the idea that they can and should demand that the deliverers of public education services do demonstrably—-not putatively—-more with less. Are Georgians that sensible?

    Jim Wooten doesn’t think so.

    By JK

    February 18, 2008 1:45 PM | Link to this

    The Bushies attacked McCain’s family in 2000. He ate it like a pile of rancid poo on the promise that someday, he’d get their endorsement. Today is payback day! Hope it’s worth it, you delusional sellout… Ewww.

    By getalife

    February 18, 2008 1:45 PM | Link to this

    “On torture, McCain is a hypocrite and also a classic enabler. He publicly abhors a practice, apparently reflecting his genuine sentiments, but then covertly supports it for his own personal political gain.”

    Worse than w but the radical right will vote for him anyway to finish off our country.

    By Disgusted

    February 18, 2008 1:53 PM | Link to this

    “No new taxes.” Sounds good, but what McCain isn’t talking about is the return of old taxes—the lapse of the tax cuts that occurs on December 31, 2010. And there’s nothing he could do about it as president. Congress doesn’t have to lift a finger. And there’s no way a Democratic Congress will allow the Bush tax cuts to be reinstated. After all, that’s the money to be used for universal health care and balancing the budget.

    So go ahead—be beguiled by this “no new taxes” pledge. It is a meaningless and cynical ploy. Maybe Wooten is too enthusiastic or stupid to recognize it as such.

    By AmVet

    February 18, 2008 1:56 PM | Link to this

    Holy moly, these blogs are getting boring! With a capital B.

    Jim’s vacuous topic is so utterly uninspired, that between it and President’s Day Monday, this GOP malaise seems almost infectious today.

    (I have yet to confirm this, but is it true that President’s day in Georgia is in honor of Ronald Reagan and John Birch?)

    And over at Luckovich’s the neo-con meltdown continues unabated. The only mildly interesting thing happening there is that ML has been hammering the Clinton’s lately, but the usually apoplectic “faithful” can’t really respond, as to do so would expose their tripe about “the scribbler” only poking fun at the revered Republicans.

    I am really starting to miss Fenceman Hunter, Who? Tancredo, Flat-earth Brownback, Lazy Fred, 9/11 Rudy and Flip-flopping Mitt.

    By Glenn

    February 18, 2008 2:10 PM | Link to this

    Tobaco King:

    Hope you’re not a Reynolds. Unsavory bunch.

    Since you have the money to play at the adult table, perhaps you’d favor us with a little inside skinny on your estimate of the cost to the American economy and its taxpayers of Georgia’s counterproductive school system.

    Pretty please, with sugar on top? I promise your answer won’t be over the heads of those of us at the kiddie table. OK?

    By Phyllis Sweet

    February 18, 2008 2:10 PM | Link to this

    Obama Landslide. Change and Hope.

    Save the country from Bush clones. McCain set an entire aircraft carrier on fire once. He’ll do it again, he’s a loose cannon.

    It’s Obama. He never set fire to nuthin.

    By Joe Bland

    February 18, 2008 2:12 PM | Link to this

    AmVet wrote: Holy moly, these blogs are getting boring! With a capital B.

    True. And you didn’t change things a bit.

    By Phyllis Sweet

    February 18, 2008 2:21 PM | Link to this

    Obama!

    By Phyllis Sweet

    February 18, 2008 2:21 PM | Link to this

    Obama!

    By Phyllis Sweet

    February 18, 2008 2:21 PM | Link to this

    Obama!

    By Phyllis Sweet

    February 18, 2008 2:21 PM | Link to this

    Obama!

    By Joe Catatonia

    February 18, 2008 2:24 PM | Link to this

    Obama!

    By Joe Catatonia

    February 18, 2008 2:24 PM | Link to this

    Obama!

    By Realist

    February 18, 2008 2:34 PM | Link to this

    To Curious Obstructor, In most every poll Ive been able to find, McCain is neck and neck with both Hillary and Obama, on the question “who would you vote for President today”.

    You dems keep thinking this thing is going to be easy. Keep thinking that please. You will be curiously observing a defeat come November.

    By getalife

    February 18, 2008 3:03 PM | Link to this

    OMG,OMG,OMG!

    “Be afraid. Be very afraid.

    The Protect America Act expired Friday night.

    So here we sit like ducks. The terrorists are poised to attack.

    And the telecoms are unprotected by retroactive immunity.”

    Lets face it, Jim and his party are nothing but sniveling cowards.

    Real Americans are not scared to allow them to spy on us.

    Jim and his party allowed obl to win and change our country.

    They are pathetic.

    By Tobacco is King, Again

    February 18, 2008 3:04 PM | Link to this

    Glenn: Ga schools educate the brats too well for the future I have in mind for them: pulling a plow for 12 hours per day, seven days per week. I do not want them to be able to read or write, reading gives them ideas and writting allows them to organize against me. What the brats need to learn is fear and obedience…Fear I can quickly teach, obedience they will have to learn more slowly and painfully..Not all bad from my perspective…I will pay them in oats to live on, the same as I will pay my mules…The cotton and tobacco they grow will be exported to China and India, for hard currency…Wheat, beef, pork, mutton, and such will be for my table only….

    By Craig

    February 18, 2008 3:06 PM | Link to this

    Realist actually I think that’s good advice. We can’t get overconfident. The right wing smear machine will be out in full force, whichever of the Dem candidates wins the nomination.

    By getalife

    February 18, 2008 3:20 PM | Link to this

    Yes, mcloser talks tough on the mistake of Iraq but votes for corporate amnesty and torture.

    Just another cowardly gop who does not care thousands of Americans have died for our freedom.

    He votes it away like it is nothing.

    By OneForTheRoad

    February 18, 2008 3:21 PM | Link to this

    The future of tobacco is in India, China, etc. I wonder if RJR and others will ever be subjected to lawsuits due to smoking related health expenses. Who was it that made the comment about putting some sort of fact-acting poison in select smokes? Maybe some other countries have already thought ahead to new methods of population control. As long as the tobacco executives get their cut? It’s just business.

    By Glenn

    February 18, 2008 3:26 PM | Link to this

    Tobacky Daddy,

    You do sound like a Reynolds. Well, in that case you’re getting what you pay for. Your education was for callousness; theirs, for calluses.

    By Bosch

    February 18, 2008 3:31 PM | Link to this

    getalife,

    Did you read Bob Barr’s opinion article today?

    By getalife

    February 18, 2008 3:53 PM | Link to this

    Bosch,

    Just posted a comment there.

    By Glenn

    February 18, 2008 3:55 PM | Link to this

    Sorry you find us so dull upon your return, AmVet. But in fairness we did warn you that it might be lonely for you and your neoprivate neolanguage.

    By Bosch

    February 18, 2008 3:59 PM | Link to this

    getalife,

    Isn’t it scary to agree with Bob Barr? It gives me chills, but it seems ol’ Bob has come around!

    What has happened to Luckovich’s blog today?

    Geez!!!!

    By Dusty

    February 18, 2008 4:09 PM | Link to this

    Ohh, I am sooo good. This is my first time here today and I’ve already posted twice. Stolen ID @ 10:53 & 11:22 Not Dusty but PoFo at work.

    Jim Wooten got it right, indeed. McCain closes the deal with no new taxes. The economy will grow with joy. Papa Bush and Brother Bush have endorsed McCain which is good news.

    What a great four years we will have with John McCain, patriot, fighter and sensible thinker. Break out the red, white and blue!! We have a winner before us.

    By Realist

    February 18, 2008 4:15 PM | Link to this

    getalife, Do you wake up each day and take your breif case down to the unemployment center and use thier computers to blog all day while pretending to look for a job? I hardly think the state would appreciate your using thier resources like that. Give someone else a chance to use the jobfinder.

    By getalife

    February 18, 2008 4:33 PM | Link to this

    Bosch,

    It is so obvious w lied again, the gop have stopped their fake outrage.

    To me, the ultimate form of cowardice by the gop is stealing our freedoms.

    This should be unacceptable and unforgivable by real Americans. The Americans who died fighting for our freedom means nothing to these cowards.

    It does to real Americans.

    By Glenn

    February 18, 2008 4:35 PM | Link to this

    McCain got the endorsement of Neil Bush too? Really?

    Wow.

    By Phyllis Sweet

    February 18, 2008 4:45 PM | Link to this

    Who rules a blog? The one that everyone else thinks is the id jacker. Shoutout to all the little trolls befuddling the pudwits. Good job.

    You know, I feel jaded. I just realized I will never step foot inside any mall ever again. there’s nothing I want or need. I’m 57, and I’m pretty much gonna go the rest of the way with the underwear and socks I got. Flash! No cell phone for me. Havent’ had a cell phone for ten years. Why not? Cause I’ve got nothing to say. To Anyone. I certainly dont want to hear any of you say anything. Phone calls are pure torture. That’s why people text message, they loathe the “how are you? good. good. What up” bunch of dickbite that our society has somehow forced us all into thinking we’re supposed to say. Why do we say, Hello when we answer the phone? What is that? Like some password you have to get past so the phone works proper? Why not say “What?” or “yes?”. What does hello mean anyway? I hate hello. I hate thank you too. You say thank you, and the other person says thank you. WRONG! after thank you, comes you’re welcome, but nobody says that, cause they’re too busy thanking each other for nothing.. Well not me. I’m out. Look at this blog. Not one word worth reading, not one. Just hacks, jacks, and paddywhacks.

    i said patty whack.

    By Tobacco is King, Again

    February 18, 2008 4:48 PM | Link to this

    Glenn, your whinning will get you nine lashes with the cat come the future I have forseen…

    By Bosch

    February 18, 2008 4:52 PM | Link to this

    getalife,

    Couldn’t agree more (@4:33), and how ironic it is that we are the ones who usually get called cowards.

    By Jackie

    February 18, 2008 4:58 PM | Link to this

    The Repubs are doing a very good job of deflection. Speak about everything but those things that are important to our well being as people and citizens of this country. They speak of tax cuts, as if that is the panacea to stop the economy from falling further into this “yogurt.” They speak of reconciliation - McCain embracing Dubya after he was summarily humiliated in 2000; speaking so loudly about his opposition to torture, yet speaking out of the other side of his mouth about waterboarding not being torture. The Repubs need to realize that when they speak publicly, they leave a paper trail, unlike Dubya who erased e-mail’s in violation the law. Mr. McCain was “given” the Washington state primary because the Repubs stopped the counting at 97% and declared him the winner because Hucabee was closing fast. Wait until November. Their lies will be Long, Convoluted and Continuous.

    By Glenn

    February 18, 2008 5:14 PM | Link to this

    Jackie,

    Yeah. Agree with you that McCain and his entourage are all about damage control with the conservatives right now. He’ll get around later to caring about folks like, say, folks.

    What do you make (so far) of Apocalypto’s rundown of Obama’s Senate accomplishments?

    Phyllis,

    Hang in. Today’s fishwrap brings news of a new mall that may yet rejuvenate you. Are you far from Alpharetta? Paper sez they’re calling it a “mini city”, but it’s really the newest and latest in shopping malls and other such devices for guiding your movements whilst you are separated from your cash. You’re gonna love it!

    King Tobacco,

    Yessuh Massa. Yessuh Boss Backa. I’s gwine shut up soon is Mistuh Wooten he shut up too. Dat man don’t make no licka sense. Dat man he de one what need a whuppin.

    By @@

    February 18, 2008 5:24 PM | Link to this

    Like you Jim, I’ve come to expect my Presidents piecemeal.

    The whole knock-worst offered by the left has made it so.

    It’s the media and their inteference in the decision-making process that disgusts me the most.

    Every journalist who is not too stupid or too full of himself to notice what is going on knows that what he does is morally indefensible. He is a kind of confidence man, preying on people’s vanity, ignorance, or loneliness, gaining their trust and betraying them without remorse.

    JANET MALCOLM, “The Journalist and the Murderer*

    By Dusty

    February 18, 2008 5:35 PM | Link to this

    Glenn @4:35 (If that was really you.)

    I was referring to Brother Jeb Bush’s endorsement of McCain. Haven’t heard anything about Neil.

    By Glenn

    February 18, 2008 5:44 PM | Link to this

    @@,

    An NBC reporter told me more prosaically much the same thing that you and Ms. Malcolm relate, a kind of crossroads of the journalistic conscience. And an attorney in Sacramento, a loyal Democratic Party donor, told me last month that he suspects that this will be regarded in retrospect as the year in which it became evident that journalism had vanished from the USA. A highly decorated Vietnam veteran, a take-a-bullet friend of McCain’s, made similar noises two weeks ago.

    These are fairly upbeat people of considerable professional pride. They are dismayed by how rapidly the standards of journalism evaporated, as seen suddenly in this current presidential campaign. A dark epiphany.

    Teddy White RIP.

    By Jackie

    February 18, 2008 5:48 PM | Link to this

    @Glenn,

    If you are old enough to remember, this EXACT SCENARIO was played out in the early 60’s with LBJ and McNamara. Same words, same conditions, same cast of characters. Texas, neo-cons, military-industrial complex, budget suprlus, budget deficits, citizen upheaval, Recession. The list goes on an on! Barack Obama will TRY to bring some sanity back to politics. However, until we elect a new cast of characters in the House and Senate, he will bump his head against a brick wall. I think the citizens of this country have to stop acquiescing to the will of the lobbyists and liars. If they do what they can to help everyone, keep them in office, otherwise, kick them to the curb! Barack is much like the Kennedys; he has high ideals that require much help from an informed citizenry.

    By @@

    February 18, 2008 5:57 PM | Link to this

    Glenn:

    A dark epiphany indeed. It has never been so blatant and without shame as I have seen during this election season.

    But then there’s always the blogosphere, right?

    Take a look ^^^ up or “down” if you will.

    Visit Luckovich’s and then talk about “the government’s education” of its’ people or the lack thereof.

    Kinda makes you wonder, don’t it?

    I enjoyed a full day with some intelligent, determined little folk today, but it wasn’t here in the blogosphere.

    By Glenn

    February 18, 2008 6:00 PM | Link to this

    Jackie,

    Barack Obama may be somewhat like Bobby 66-68 and rather like the Bobby of the last four months, but he’s used his legal training far more in the public interest than RFK did, and he didn’t earn his spurs as a fixer and a hawk. (A bagman, maybe; more anon.)

    He’s like Jack in that he’s an inexperienced Senator, especially in foreign affairs, who found his voice sometime after beginning a presidential bid. Unlike JFK in his leftism and make-nice foreign policy; JFK was a helluva Cold Warrior, or at least he wanted to be.

    The McNamara connection, mm-mmn. Hafta think about that one. Again, which McNamara?

    By Jackie

    February 18, 2008 6:00 PM | Link to this

    @Glenn,

    Read Mein Kampf and be shocked at the amazing parallel to today’s current political conundrum.

    By Glenn

    February 18, 2008 6:02 PM | Link to this

    You’re blessed, you know. You really are. Especially in that you do know it.

    By GaLiberal

    February 18, 2008 9:26 PM | Link to this

    Moron Jim says: What’s more, he [McCain] said, he could “see an argument, if our economy continues to deteriorate, for lower interest rates, lower tax rates, and certainly decreasing corporate tax rates.” He also supports allowing filers to write off depreciation and he would eliminate the alternative minimum tax.

    What Moron Jim doesn’t tell you is that to pay down the $300+BILLION deficit ran up by Bush with the unnecessary and reckless Iraq war and tax cuts for the rich there will have to be significant cuts in spending. So what will the Rethuglicons want to cut? Programs and safety nets for those on the lowest rung of the social ladder. Of course, military, DHS, ICE, ATF, and DEA spending will escalate. And no cuts for the corporate welfare agencies like air traffic control and meat inspectors. So keep up the spending and keep the Bush tax cuts for the wealthy. And if the economy doesn’t improve, cut taxes more; particularly that evil ‘corporate tax.’ Hell, even Ronald Regan knew that budget deficits don’t mean anything.

    This is just more of the same old Bush policies that have left the economy on the brink of recession, caused the value of the dollar to plunge to third-world status, and allowed China to become our biggest creditor. A vote for McCain is a vote for more of Bush’s failed policies both at home and abroad.

    When you vote Rethuglicon, you vote against your own best interests. And John McCain is living proof.

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