Obama, McCain, Fannie and Freddie

By Churchill

September 8, 2008 8:52 AM | Link to this

McCain�s Convenient Untruth

When it comes to fighting wars, John McCain stands up and calls for sacrifice. �We never hide from history; we make history,� he declared in his convention speech. But when it comes to taxes, McCain is unwilling to demand even a teensy bit of sacrifice. In a McCain administration, Americans would not have to surrender a dime more of their money to a cause larger than themselves.

Why this bipolar attitude toward sacrifice? Start with the answer that McCain himself provides. �My tax cuts will create jobs. His tax increases will eliminate them,� he said at the convention, offering one of the speech�s few policy contrasts between Obama�s platform and his own. In other words, McCain is not calling for tax sacrifice because he believes it would be counterproductive. On taxes, he is saying, you can selfishly avoid sacrifice � and serve the public good.

This, unfortunately, is a convenient untruth. Tax hikes taken to an extreme can indeed backfire, harming growth and job creation. But it�s a stretch to assert that Barack Obama�s tax plan would do that. And it�s downright scandalous to pretend that the economy can be strengthened in anything other than the short run by unaffordable tax cuts.

Obama is not proposing to raise taxes for most Americans. To the contrary, he would triple the earned-income tax credit for low-wage earners, increasing work incentives at the bottom. He would cut taxes on people in the middle � indeed, he would do so more aggressively than McCain would. It is only the wealthiest Americans who would face higher tax bills under Obama. According to the nonpartisan Tax Policy Center, Obama�s plan would require the richest 1 percent of Americans to sacrifice a modest 1.5 percent of their after-tax income in 2012. By contrast, no-sacrifice McCain would award America�s elite a 9.5 percent increase.

How might this impact jobs and the economy? Under Obama�s plan, top earners would pay a marginal federal tax rate of maybe 46.5 percent (that includes the Medicare tax and Obama�s proposed hike in Social Security taxes), considerably more than the 37.9 percent they would pay under McCain. There�s no doubt that Obama�s higher tax rates would mean weaker incentives to work, take risks and innovate; and stronger incentives to waste time and effort on avoiding the tax man.

But those bad effects must be weighed against a good one: Higher tax rates mean a lower budget deficit. According to the Tax Policy Center, over the course of a decade Obama�s plan would result in a national debt $1.2 trillion smaller than you would get under McCain�s plan. Less government borrowing ultimately means lower interest rates and more private investment. This positive effect may well outweigh the blow to growth and jobs from weaker work incentives.

Tax hikes, in other words, are not automatic job destroyers. Joel Slemrod of the University of Michigan, a top expert on this subject, says bluntly, �There is no compelling evidence that a low-tax strategy is better for the economy over the medium or long run.� Just look at the Clinton era. In 1993, the top marginal rate (income tax plus Medicare) was raised to 42.5 percent � the same rate that Obama proposes but minus the candidate�s proposed increase in the payroll tax. During the rest of the Clinton period, the economy generated millions of new jobs, and careful academic postmortems find that the 1993 tax hike caused little to no damage to the incentives of top earners.

So McCain�s swipe at Obama�s tax plan was something other than straight talk. As a share of the economy, Obama�s plan would create an overall tax burden similar to the one that existed in Ronald Reagan�s time. It would not choke off job creation; rather, it would slow the growth of the deficit and soften inequality. But the really depressing thing is that McCain himself once knew that. He opposed the Bush tax cuts before he supported them, saying that they would deepen inequality. But now he touts a tax reduction that is larger and more radical than even President Bush proposed, and he slams his opponent for holding the view that he himself held until recently.

McCain used to be a real straight talker. On campaign finance, spending earmarks, Iraq and immigration, he has fought bravely for his principles; and that record might have been a trump against an opponent who has taken almost no such risks. But we are now witnessing what might be called McCain�s Palinization. McCain once criticized Christian conservatives as agents of intolerance, but he has caved in to their intolerance of a pro-choice running mate. McCain claims to be devoted to his country, yet he would saddle it with a vice president who is unprepared to serve as commander in chief. In the same sad way, McCain has caved in to his party�s anti-tax fanatics. The man of principle has become a panderer. The straight talker flip-flops.

By TW

September 8, 2008 8:57 AM | Link to this

Is Sarah Palin really parading her special needs child around the country to drum up votes? Gee, Can’t imagine why her underage, unwed daughter is pregnant…

Can we please get to the ‘Final Question’ Round, the Ms South Carolina part of this rightwing joke campaign?

You know, the part where we find out that lipstick on a pig is a more appropriate phrase…

By Ga Values

September 8, 2008 9:01 AM | Link to this

Our 2 RINO Senators sure put the wood to the Georgia Taxpayers with the Bank Bail out. Johnny tucked a little $18 Billion favor in for the Builder/Banker special interest. When will we get Senators that work for GEORGIA rather than SPECIAL INTEREST.

By Ragnar Danneskj�ld

September 8, 2008 9:06 AM | Link to this

Good morning all. I agree with Jim that Obama needs to change the conversation � I posted numerous great suggestions to that effect this weekend � but our friend @@ rightly chastises me for wasting my time with a futile effort telling the bad guys what they need to know, so I�ll not waste any more time on that effort.

I disagree that the Muslim stuff is an issue � I don�t hear that anywhere.

Re FNMA and FHLMC, I agree with Jim�s analysis there. That long-term decision will not arise until Jan 21, 2009 � perhaps we will get an intelligent call. Good laugh from the WSJ page A15 this morning, an article on FNMA and FHLMC:

�Sen. Obama has received $105,849 from donors tied to the companies since he ran for the senate four years ago, making him the third-largest recipient in Congress among the top 25 listed in a recent report by the Center for Responsive Politics, which examined contributions dating to 1989.

�Sen. McCain wasn�t listed in the report, and proponents of overhaul say lobbyists have tried unsuccessfully to win him over.

��There were quite a few lobbyists retained by Fannie and Freddie who tried to influence Sen. McCain, but they never were able to get their hooks into him,� said Anne Canfield, who heads the Consumer Mortgage Coalition, a leading trade group that has advocated for overhaul of the government-sponsored enterprises.�

By Redneck Convert

September 8, 2008 9:07 AM | Link to this

Well, things is looking up. Us Christians always use the same way of getting elected again. Talk about Patriotism and how good it is to be a American. Don’t mention jobs or nothing like that. Sort of hint that the other side is a bunch of Traders and Commies that will let the Terrists come in and attack us.

Then when we get elected again ram it home. Get a supreme court that will let us lock women up for getting a abortion. Put prayer back in schools and teach Adam & Eve. Get rid of teaching about You Know What and this evolution. Let You Know What be a suprize to the kids when they get older. Get rid of using our tax money to help poor people and other lazy bums. Give the big tax breaks to the people that make the big money. Cut our taxes. It’s the Republican and the American way.

Anyhow, this Obama wasn’t going to get elected anyway. Millions of good White people were just waiting to see to it that we wouldn’t have a jungle bunny and his mad wife in the white house. We told poll people we hadn’t made up our mind but we know who we were going to vote for and against.

Have a good day everybody and Praise the Lord. White is Right!

By Jimmy Joe Bob

September 8, 2008 9:08 AM | Link to this

Yes, we had the Bush tax cuts, but their beneficial, growth-enhancing effects have long since been swamped by an explosion of government spending. As Milton Friedman long ago taught us, government spending is the ultimate tax on the economy: It extracts real resources from productive, private use and puts them to unproductive, public use. And there is the rub.

By Ragnar Danneskj�ld

September 8, 2008 9:18 AM | Link to this

Dear Churchill @ 8:52, your long cut-and-past shows you do not get it. Americans reasonably do not sacrifice to causes larger than themselves, only to causes more worthy. While the government is undoubtedly larger, it is not more worthy in any sense. Other than the military, I can think of no desirable purpose for the Federal government. That is a mainstream philosophy, after decades of nanny government.

The big-government mantra is what is killing Obama now. Not even Carter or Clinton ran on a �bigger government� platform. Lyndon Johnson concealed the breadth of his plans, and thus brought the whole �big government is good� philosophy into disrepute. I think Obama needs to seize the discussion with a completely different course. (Apologies to @@ for my lie � but that will be the last speech on the topic.)

By Jimmy Joe Bob

September 8, 2008 9:21 AM | Link to this

Rising public deficits are necessary�in fact, indispensable�to sustaining GDP because so much of the nation�s wealth has been transferred from those who, as a matter of necessity, spend it to those who, as a matter of taste, do not.

By JohnnieB

September 8, 2008 9:21 AM | Link to this

Dear host, These comment sections are a breeding ground for false statements and unproductive speech. They do us no good. Please disable them.

By Hilary Smith

September 8, 2008 9:22 AM | Link to this

McCain = death to the middle-class

By JohnnieB

September 8, 2008 9:23 AM | Link to this

Dear host, These comment sections are a breeding ground for false statements and unproductive speech. They do us no good. Please disable them.

By macca

September 8, 2008 9:38 AM | Link to this

JohnnieB@9:21 While it is true the political discourse in this country is sarcastic, biting, rude, disrespectful, and deceitful, and it’s no wonder the two sides hate each other so much when they get to Washington and find it hard to agree on the color of pen ink. no one is holdng a gun to your head to read this or any other political blog.

By getalife "whiners"

September 8, 2008 9:44 AM | Link to this

The American people will lose again because the spineless dems ran another loser.

By Plae G. Wrist

September 8, 2008 9:46 AM | Link to this

“… the political discourse in this country is sarcastic, biting, rude, disrespectful, and deceitful, and it�s no wonder the two sides hate each other so much when they get to Washington and find it hard to agree on the color of pen ink.”

Read that somewhere else this morning. And, it wasn’t the AJC, but either politico.com or cnn.com.

By No socialism for me, thank you

September 8, 2008 9:49 AM | Link to this

Obama and liberals do not really understand economics. Here is your brief tutorial. Hopefully you will learn something.

Fact 1: We are in an international economy. Businesses now move out of the USA to cheaper labor markets. Even within the USA business moves to states with more favorable tax status.

Fact 2: Capitalism generates the strongest growth of any economic system because people are motivated to produce things of objective value when they get paid in proportion and get to keep that pay. The Soviet Union could not compete with a capitalist system and collapsed in the cold war.

Liberals tend to think of the economy as a fixed pie. To feed everyone, you have to reduce the slices of those who have more. What they fail to see is that the best way to feed the most is to make a bigger pie, or grow the pie.

When you tax business, you incentivize it to move out of the USA, and with it goes jobs, resulting in more hungry mouths to feed in your diminishing socialist economic pie. When you do your best to minimize the burden on business, other businesses want to start up here, which generates more jobs here and grows your capitalist pie, feeding more people.

If you tax the rich too much, eventually they say ‘the hell with it’ and go to some tax haven like Bermuda, and now you don’t have them paying into your tax pool at all. There are plenty of other countries out there who would like to get wealthy Americans to move.

If you have all you need because of government handouts and you are happy with your lot in life in that state, there is little incentive for you to go through the long hard work necessary to retrain/school/earn your way to a better income bracket. It is not easy acquiring a skill set of objective value. When there is pain at the bottom there is strong incentive for people to better themselves. There are plenty of economic opportunities out there.

Now Obama may say that he feels the pain of workers unemployed by businesses who relocate overseas, but the way you get those guys to stay here is by not taxing the living hell out of them. His proposals to penalize businesses who relocate jobs will not encourage them to bring jobs back, it will only encourage them to move the entire operation overseas.

Small business which elects to remain here under a higher tax structure will either (1) lose out to overseas competition with lower tax structure and see business sales decline, or (2) absorb those costs by either increasing the price they charge for their goods (passed along to the consumer in a higher cost of living) or by cutting pay or hours. Either you are hurt by unemployment, or you find your dollars dont buy what they used to.

By Ga Values

September 8, 2008 9:49 AM | Link to this

Under the terms of his employment contract, Daniel H. Mudd, the departing head of Fannie Mae, stands to collect $9.3 million in severance pay, retirement benefits and deferred compensation, provided his dismissal is deemed to be �without cause,� according to an analysis by the consulting firm James F. Reda & Associates. Mr. Mudd has already taken home $12.4 million in cash compensation and stock option gains since becoming chief executive in 2004, according to an analysis by Equilar, an executive pay research firm.

Richard F. Syron, the departing chief executive of Freddie Mac, could receive an exit package of at least $14.1 million, largely because of a clause added to his employment contract in mid-July as his company�s troubles deepened. He has taken home $17.1 million in pay and stock option gains since becoming chief executive in 2003.

Both executives stood to make millions more from restricted stock grants and options, but those awards are now worthless because of the plunge in the companies� share prices. Even so, their past pay � and the idea that they might receive more � irks some investors.

�This is completely outrageous,� said Richard C. Ferlauto, the director of corporate governance and investment for the American Federation of State, County and Municipal Employees, a large pension fund. �It is really a slap in the face to shareholders and homeowners whose loans are at risk and taxpayers footing the bill for a bailout.�

Whether Mr. Mudd and Mr. Syron will collect their severance package is unclear. A spokeswoman for the Federal Housing Finance Agency, the companies� primary regulator, declined to provide details about their exit packages. F.H.F.A. officials said the compensation of their successors, Herbert M. Allison Jr. and David M. Moffett, both longtime financial industry executives, would be �significantly lower� than that of the departing chief executives.

Fannie Mae and Freddie Mac have enriched their top executives for years. Mr. Mudd�s predecessor at Fannie Mae, Franklin D. Raines, took home more than $52 million while he was chief executive from 1999 to 2004, according to Equilar data.

Mr. Raines later agreed to forfeit several million dollars� worth of stock and options to resolve personal claims over allegations that Fannie Mae had inflated its earnings to raise executive bonuses. Even though Fannie Mae was forced to restate its earnings, Mr. Raines walked away with at least $25 million in pension benefits, as well as stock options he did not cash in � many of which are now worthless.

Mr. Syron�s predecessor at Freddie Mac, Leland C. Brendsel, took home more than $28.4 million from 1993 to 2003, the only part of his pay package that was publicly disclosed during his 13-year tenure as chief executive.

The shareholders of Fannie Mae and Freddie Mac, including many employees, will not be so lucky. The companies� share prices have plunged about 90 percent this year, wiping out about $70 billion of shareholder value. The shares are likely to be worth little or nothing under the government�s rescue plan.

By bearcasey

September 8, 2008 9:51 AM | Link to this

I LOVE IT! The Republican Party is supposed to be the Party of business expertise and financial savvy. Why is it then the three largest economic screw-ups of the last 100 years have ALL happened on the Republicans’ watch?

the crash of 1929
the crash of 1987 and Savings & Loan meltdown
the current mess

* can you say: “greed is good!”

By BS Aplenty

September 8, 2008 9:52 AM | Link to this

Americans tend to look askance at political candidates who tell us, “Do as I say, not as I do.”

Jim, I think the issue many Americans have with an Obama candidacy are based on a life’s record and their opinions are unlikely to be changed by a speech, no matter how well-spoken. Obama’s lifetime is one spent collaborating and associating with fringe-level (Wright & Pfleger) and criminal-level (Ayers & Rezko) leftists and is hard to explain away in a speech. In fact, the mere appearance of trying to “explain away” such a lifetime’s worth of effort is telling.

But more to your point may be his membership at a church which purports to be “Christian” while endorsing and promoting the racist philosophy of James H. Cone. This issue has undermined Obama’s candidacy in many Bible-belt homes as few other can. In an area that still very much views Christian doctrine as sacred, this type of apostasy will not be dismissed by a speech - no matter how well made.

Obama’s dated “Muslim connection”, through his father and youth, are simply additional fuel in the Christian community for this fire. Not the tinder to necessarily start the political fire but additional fuel that keeps it burning. The less Christian he is, due to the nature of his church, the more importance these kinds of Muslim associations will have.

My experience is that a political candidate should never underestimate the country’s desire for a candidate with (Christian) morals.

By lwwmm7

September 8, 2008 9:57 AM | Link to this

Newly released top-secret documents reveal that the U.S. used fake Zeroes to bomb Pearl Harbor so that we could get into WWII and be able to steal land from the arabs and give it the Jews. I now have no doubt that we bombed the Twin Towers ourselves too.

By macca

September 8, 2008 10:01 AM | Link to this

Plae G. Wrist:

FULL DISCLOSURE: It was Peter King’s “Ten Things I Think I Think” on SI.COM. Doesn’t make it any less true.

By macca

September 8, 2008 10:06 AM | Link to this

Besides, 90% of the dung on this blog is copied and pasted WITHOUT ATTRIBUTION anyway, so why pick on me?

By Dusty

September 8, 2008 10:11 AM | Link to this

After reading Churchill’s inconvenient untruth and RedNeck’s undercover trash, I may almost agree with JohnnieB. She believes that these comment sections are a breeding ground of false statements and unproductive speech.

Quite true, Johnnie, but if you read long enough you will find conservative diamonds among the unremiting umbrage of liberals. They lay it on thick in desperation as the new St. Joan stands staunchly against the Socialistic sycophant.

So stick around a bit, Johnnie. The repetition of the reprobates gets tiresome but you will get the hang of speed reading.

For entertainment use these words: patriotism, motherhood, faith, Bush, Cheney, flag, POW, ethics, morals and a few lines of God Bless America. You won’t believe the acceleration.

You DO have to have a sense of humor to love a liberal. But they are worth every bit of the entertainment.

By getalife "whiners"

September 8, 2008 10:12 AM | Link to this

Two months to go, McCain is up by 10 and Obama is turning to the ones he called racists to help.

The Clintons can�t help him now but looks like you folks will get more of the same from the gop.

Country first?

BS. Our country and the American people will continue to lose because the spineless dems ran another loser instead of a sure winner

By VOTE NO TO HALF-BLACK UPPITY BLACK RACIST MUSLIMS

September 8, 2008 10:14 AM | Link to this

My mohammedan faith as puked up by Hussein Obama to the oily Greek on Sunday morning on ABC … Amercia’s Barry Channel.

At last Hussein Obama tells the truth to the folks about its open secret truly poisonous religion.

After all if the panderer to illegal leeches Sen McLiar is to have his 100 years in Iraq shamelessly distorted and endlessly repeated by the leftist surrender monkey scum then surely Hussein Obama’s long overdue honesty about its poisonous religious beliefs/faith is equally fair game. But wait …. the nasty half-black black racist hypocrite Hussein Obama always screeches about how ANY honest/fair comment commentary about it is “racist”. Such despicable dishonesty is just the latest demoNcrat attempt at demonising anyone with an objective, non-fawning POV about Hussein Obama.

LMFAO AT THE GLORIOUS NEWS @ THE MCLIAR-PALIN POLL LEAD.

So the black racist messiah is now behind in many of the liberal run polls. The writing is on the wall. McLiar will win this and the moveyourbowels.org and code pinKKKo et al screeching and ranting will be freaking hilarious. Better entertainment than even the AlBore’s inevitable defeat in 2000.

Watching the resident anal stalker on here puking up its trademark PIG ignorance about EVERYTHING, including which league the Foxes play in, is enormously amusing. Glad to see how effortlessly I have managed to get a sick and twisted turdbrained maggot like this to ENDLESSLY obsess over me.

All U have to do on here to get anal sicko lefties to stalk U and obsess over U is state the IRREFUTABLE facts about Grand Cyclops Wright and the hate pig feminaziPelosibitch and smug corrupt criminals freeloading off their family’s gangsta racketeering prohibition days criminal illgottengains - like the alcohol soaked DUI killer Kennedy.

One almost assumes its an anally unfunny wannabe comedian with a sick weird slavish obsession about puking up witless moronic sexual innuendo on here.

DEATH TO LIBERALISM!!!

VICTORY TO McLIAR AND PALIN

By Dusty

September 8, 2008 10:18 AM | Link to this

lwwmm7 @9:57

Talk about entertainment, you take the cake. Fake zeros at Pearl Harbor from the USA? Wow, that’s a new one. I hope you post some more stuff before the little men from your flying saucer carry you to another planet.

(Sorry, Jim Wooten, it is hard to get serious this morning.)

By Common Sense

September 8, 2008 10:23 AM | Link to this

Not really Dusty you should as a so-called Christian love everyone.

Just because people do not agree on issues does not mean we should not like them!

If we are really Christians we are not sending out false information about anyone.

Also tax payers if you believe polictians are morally convicted to do the right thing you really are diluted in your thinking!

By Stop Pretending!

September 8, 2008 10:23 AM | Link to this

“Obama continues to be bedeviled by questions about his religion, something I picked up repeatedly from people who aren�t political junkies. It�s not surprising that Obama lashed out on that issue Sunday. He can�t shake the believe that he is a Muslim, the religion of his father and religion of at least part of his childhood.”

Mr. Wooten, I usually just read your columns and not respond to things no matter how ridiculous they may sound. But you attempt to be helpful to Mr. Obama came across to me as a way to perpetuate this thought on his religion. My father is Methodist and I have attended church with him, but guess what, I’m not Methodist. My parents have been married for over 55 years. My mother made the decision on what religious affiliation her children would be. If you don’t like the man, fine, don’t vote for him. But please don’t pretend to be helpful when that is not your true motivation.

By VOTE NO TO HALF-BLACK UPPITY BLACK RACIST MUSLIMS

September 8, 2008 10:24 AM | Link to this

My mohammedan faith as puked up by Hussein Obama to the oily Greek on Sunday morning on ABC … Amercia’s Barry Channel.

At last Hussein Obama tells the truth to the folks about its open secret truly poisonous religion.

After all if the panderer to illegal leeches Sen McLiar is to have his 100 years in Iraq shamelessly distorted and endlessly repeated by the leftist surrender monkey scum then surely Hussein Obama’s long overdue honesty about its poisonous religious beliefs/faith is equally fair game. But wait …. the nasty half-black black racist hypocrite Hussein Obama always screeches about how ANY honest/fair comment commentary about it is “racist”. Such despicable dishonesty is just the latest demoNcrat attempt at demonising anyone with an objective, non-fawning POV about Hussein Obama.

LMFAO AT THE GLORIOUS NEWS @ THE MCLIAR-PALIN POLL LEAD.

So the black racist messiah is now behind in many of the liberal run polls. The writing is on the wall. McLiar will win this and the moveyourbowels.org and code pinKKKo et al screeching and ranting will be freaking hilarious. Better entertainment than even the AlBore’s inevitable defeat in 2000.

Watching the resident anal stalker on here puking up its trademark PIG ignorance about EVERYTHING, including which league the Foxes play in, is enormously amusing. Glad to see how effortlessly I have managed to get a sick and twisted turdbrained maggot like this to ENDLESSLY obsess over me.

All U have to do on here to get anal sicko lefties to stalk U and obsess over U is state the IRREFUTABLE facts about Grand Cyclops Wright and the hate pig feminaziPelosibitch and smug corrupt criminals freeloading off their family’s gangsta racketeering prohibition days criminal illgottengains - like the alcohol soaked DUI killer Kennedy.

One almost assumes its an anally unfunny wannabe comedian with a sick weird slavish obsession about puking up witless moronic sexual innuendo on here.

DEATH TO LIBERALISM!!!

VICTORY TO McLIAR AND PALIN

By Stop Pretending!

September 8, 2008 10:27 AM | Link to this

“Obama continues to be bedeviled by questions about his religion, something I picked up repeatedly from people who aren�t political junkies. It�s not surprising that Obama lashed out on that issue Sunday. He can�t shake the believe that he is a Muslim, the religion of his father and religion of at least part of his childhood.”

Mr. Wooten, I usually just read your columns and not respond to things no matter how ridiculous they may sound. But you attempt to be helpful to Mr. Obama came across to me as a way to perpetuate this thought on his religion. My father is Methodist and I have attended church with him, but guess what, I’m not Methodist. My parents have been married for over 55 years. My mother made the decision on what religious affiliation her children would be. If you don’t like the man, fine, don’t vote for him. But please don’t pretend to be helpful when that is not your true motivation.

By Truthifier

September 8, 2008 10:30 AM | Link to this

Did I miss Jim’s piece on how Obama lead McCain 50% to 42% in the Gallup poll following the Democratic convention?

By norman ravitch

September 8, 2008 10:33 AM | Link to this

Yes, capitalism is wonderful! Until it bites you, then you suddenly become a socialist — or more correctly a state capitalist which is more or less a fascist.

By SaveOurRepublic

September 8, 2008 10:35 AM | Link to this

Ga Values @ 9:01 AM - “Isakscum” & “Shameless” are typical Neocons who fully embrace & pursue corporate welfare (on the taxpayer (fiat) dollar). Like most of the Republicruds on “Crapitol sHill” (save for rare patriots like Ron Paul), these two Globalist pawns also endorse the myth of “free” trade which means outsourcing of American jobs & insourcing of 3rd rate H-1B visa workers (displacing American workers).

On the flip side (of the same coin) is the Demoncrap’s Marxist “Bacrock Obummer” who spoke on the negative impact of NAFTA, but (of course) stopped short of vowing to end it. Like “Juan McAmnasty”, “Obummer” is merely a servant of the Internationalists.

Uncle Scam’s bailout of the financial sector is just another method of corporate welfare & empowering the private Federal Reserve (arm of the Central Banking cartel). It’s all part of the Globalist Elite’s SOP.

http://www.baldwin2008.com

By Peadawg

September 8, 2008 10:35 AM | Link to this

When Obama goes to Rev. Wright’s church for 20 yrs, of course I’m going to question whether or not Obama is a true Christian.

By Dusty

September 8, 2008 10:37 AM | Link to this

Dear Common Sense,10:23

You are correct. As Christians, we SHOULD love every citizen of this world. I’m not sure we are required to LIKE every thief, murderer, liar and dictator. But I believe that is a discussion for church school not a political blog.

By Common Sense

September 8, 2008 10:37 AM | Link to this

To Mr. Economist,

It’s not that we need bigger government because it does not get any bigger than what we have right now.

Did we actual need homeland security or could we have just use the FBI and expanded the department. WASTE of money!

Also since we are in a global economy our companies seem to leave regardless of the support they receive from their local,state and federal government.

Yes it is true some movement is base upon taxes but a lot of our companies receive tremendous tax rebates from both all our government entities!

How about this our companies need to stop worrying about major shareholders and worry about their employees. America costs more to live-in then third world countries so instead of trying to produce cheap products to maximize profits at the expense of the AMERICAN WORKERS let’s produce quantity products and sell to the AMERICAN WORKERS. After all we are the biggest consumers in the WORLD!

Jim why do you let racist comments on this blog?

By Ragnar Danneskj�ld

September 8, 2008 10:39 AM | Link to this

Dear NoSoc and Ga Values, both @ 9:49, great tutorials, well done.

Dear Bearcasey @ 9:51, you are mostly correct: every time the democrats create a ludicrous Rube Goldberg financial entity (FSLIC, FNMA, FHLMC, PBGC) guaranteed by the taxpayers, it always seems to be the serious people, i.e., conservatives, who have to clean up the mess. If you wish to think ahead, let�s say it together: FDIC. In all fairness, the stock market crash was caused by the collapse of international free trade, and that is strictly attributable to republicans (Smoot-Hawley). I think republicans mostly learned from their error, but I note Obama said he wishes to renegotiate NAFTA, the growth engine that made the Clinton years good for economics.

By Ralph

September 8, 2008 10:42 AM | Link to this

Churchill,

You are an idiot. People like you are the problem with the US. Obviously, you idolize Obama, a nobody ‘but’ black, which justifies me saying this. If you attempt to take from the rich the way you and master Obama envision (good luck), they will only move MORE of their money out of the US. I did!

By AmVet

September 8, 2008 10:43 AM | Link to this

But I believe that is a discussion for church school not a political blog.

Probably true, Dusty. It’s just too bad that the Religious Wrong was successful at fully injecting their dogma into national policy via the Republican party.

That’s just one reason for the many daunting troubles facing the neo-cons now…

By glenn129

September 8, 2008 10:44 AM | Link to this

The overpaid salieries, perks, and bonuses of the executives of the Fannie Mae, and Freddie Mac were criminal they should be fined for their criminal actions as well as the board which gave them these amounts. In fact jail time would be in order for these crooks. Who do all these people think they were working for, Delta Air Lines?

By Stop Pretending!

September 8, 2008 10:48 AM | Link to this

Peadawg, when people continue to go to Mass at the same churches where priest have been convicted of molesting countless boys, do we question their faith?

By ron

September 8, 2008 10:48 AM | Link to this

Good morning,Freddie and Fannie.’bout time.The excs are gone,but they’ll resurface in another scheme elsewhere.

Obama doesn’t need to do anyting different as far as I’m concerned.Whatever he does to lose is good.

Obama a Muslim? No.

This place is a nest of lies,deceit,innuendos,half-truths and sparkling gems.Entertaining,isn’t it?

lwwmm7 @9:57—Your mind works in mysterious ways.

Did I read somewhere yesterday that Obama thinks now that stopping the Bush tax cuts in January may not be such a good idea after all,given the state of the economy?I think I did.

Mrs Palin’s going on ABC.I don’t get that channel.One PBS station is all I receive.

By maz hess

September 8, 2008 10:49 AM | Link to this

McCain: Dead man walking into presidency?

By Dave

September 8, 2008 10:50 AM | Link to this

TW - keep up your trash mouth. guys like you only help folks realize how scared the demorats have become… thanks

By Stop Pretending!

September 8, 2008 10:51 AM | Link to this

Peadawg, when people continue to go to Mass at the same churches where priest have been convicted of molesting countless boys, do we question their faith?

By pan

September 8, 2008 10:52 AM | Link to this

Wow, do we slant when we write about politics? Who would be stupid and dull enough to even GO to the convention? Is Palin as stupid as her daughter? And, by the way - you article has typos so you are pretty stupid too

By deegee

September 8, 2008 10:53 AM | Link to this

“”This is a historic event,” Brian Gardner, senior vice president at Washington Research, told MarketWatch.com. “It could be the biggest potential government bailout of a generation, much bigger than the savings and loan crises of the 1980s.”

McCain and Neil Bush were prominent figures twenty years ago during the S&L bailout. The underlying cause of that crisis is not much different than the underlying cause of the mortgage crisis. It’s twenty years later and we’re supposed to vote for John McChange. Sure…

By hillbilly ragger

September 8, 2008 10:53 AM | Link to this

Jim, gosh, thanks so much for the unsolicited advice. Rest assured we’ll take it under careful consideration and give it exactly the treatment it deserves!

Love and kisses, Team Obama

By What IF?

September 8, 2008 10:54 AM | Link to this

What if our financial industry had not been de-regulated to the extent that it is? What if our financial institutions, and specifically mortgage lenders, had operated under just a LITTLE more scrutiny in the two decades since the S&L travesty left a few individuals rich (Neil Bush and friends) and the taxpayers stuck with the bill? What if the CEOs and CFOs and had only been required to show a LITTLE more “personal responsibility” with regard to ther business practices, and a LITTLE more “accountability” for their actions and those of their underlings? What if the bloviating worshippers of the “free market” (who do indeed put greed before God) had been a LITTLE less vocal about “executive’s rights” and a little more vocal about common sense business practices?

Hmmmm…. Would we, the taxpayers, be looking at another multi-billion $$ bailout while the perpetrators skate away to their island hideaways with barely a slap on the wrist, IF THAT?

What do you think our economy would be like right now?

By Peadawg

September 8, 2008 10:54 AM | Link to this

*By Stop Pretending!

September 8, 2008 10:48 AM | Link to this

Peadawg, when people continue to go to Mass at the same churches where priest have been convicted of molesting countless boys, do we question their faith?*

As long as that priest is no longer there, no I wouldn’t question their faith. But to keep going to a church w/ someone as hateful as Rev. Wright preaching every Sunday, I do question it.

By Drew

September 8, 2008 10:55 AM | Link to this

Every time I hear crude accusations spread by the whispering campaign against Sarah Palin, it becomes more obvious (and more importantly, transparent) that leftists are just as hateful, sexist and intolerant as any ‘rethuglican’ out there… and it firms up my support for the GOP this year. A leftist media that was reluctant to even investigate Edwards’ infidelities shows no hesitation in reporting mere speculations about Palin. Absolutely transparent.

By Common Sense

September 8, 2008 10:58 AM | Link to this

Rags you should change your name to Dummy!

The Replublicans are bailing out FAnnie and Freddie just like that bailed out the Saving and loans institution when THE SUPERDUPER Ronald Reagan was in office.

I guess that was o.k. since it was a REPUBLICAN who use the tax payers money.

Hey fiscals conservative most righteous and honest people on this planet.

Did you know you GOD Ronnie baby raised taxes 6 times during his adminstration?

Look it up!

To: Save our Replubic

Did you escape from the white jacket?

By rarringt

September 8, 2008 11:00 AM | Link to this

Good morning all,

Regarding the new polling information, I read with interest this morning as to how McCain has seized a post-convention lead clear of the margin of error. This is, of course, the same as what happened with Obama after the DNC.

Basically, bases get energized, independents lean, and the numbers reflect that, until everything settles back down. My point? We shouldn’t make too much out of a lead immediately after the conventions.

Regarding religion, all I really care about is whether the person is of good character, believes in something greater than themselves, and aspires to follow the golden rule of doing unto others. The rest, is really immaterial when trying to push through a new tax code, working a trade agreement that doesn’t involve shipping jobs overseas, or supplying funding for the nation’s beleaguered infrastructure.

By rc

September 8, 2008 11:05 AM | Link to this

maybe the repubs deserve one chance to clean up the mess bush made. can we get mccain to promise us he’ll last one term and keep palin in deep background? if not i think we need the ability to recall the presidency. if this isn’t the late 1920’s …

By AmVet

September 8, 2008 11:06 AM | Link to this

Go ahead “conservatives”! Keep eating your own. And do vote for the RINO. Just maybe he can restore some sanity, credibility and integrity to the debacle that is the Republican Party…

Barack Obama isn’t John McCain’s only opponent. Sometimes McCain sounds like he’s running almost as hard against President Bush and the Republican Party as he is against Obama, his Democratic rival for the White House.

The GOP is guilty of indulging in a spending spree of taxpayers’ money, McCain laments. They haven’t solved huge problems such as the looming insolvency of Social Security and Medicare, passing on huge IOUs and perplexing issues to future generations instead of fixing them as they had promised. He doesn’t name Bush but the implication is clear: It happened on his watch and he signed bills that made the deficit soar.

“We began to value power over principle,” McCain said in Colorado Springs, Colo. Some lawmakers turned corrupt and wound up in jail, he told a rally in Albuquerque, N.M.

By Th

September 8, 2008 11:06 AM | Link to this

I wonder if Sean Hannity knows that he helped pay Obama’s salary as a community organizer that he treats so condescendingly now? Yes, Obama worked for the Catholic Church when he was a community organizer paid for by good Catholics all across America who put their hard-earned money in the collection box at mass. Of course, now that same work is paid by us taxpayers through Bush’s “Faith Based Initiatives” funding. That is really good form to make fun of people who work to make others’ lives better. Kind of tells me where they are coming from.

Obama already made a speech about his religion. He could make 50 and it would do him no good. Abramoff’s good buddy, Michael Scanlon explained pretty well why making a speech will not sway the opinions Wooten heard: “The wackos get their news…”

By Mrs. Godzilla

September 8, 2008 11:09 AM | Link to this

Sarah Palin�.

Wants to see creationism taught in schools.

Wants to ban books.

Is currently under ethics investigation.

May have an issue with Brad Hanson.

Wants to overturn Roe V. Wade.

Is against civil rights for gays.

Is a lifelong member of the NRA.

Does not think polar bears should be on endangered species list and is suing the Alaska Department of Interior.

Stood in her former church and stated that the Iraq War was God�s will.

Will award the Alaska Gasline Inducement Act license to TransCanada .

Left Wasilla, AK 20,000,000 in debt.

Stated in public after learning that Obama won over Clinton in the primaries, � So S@mbo beat the b!tch�

Belongs to church that believes you can pray gay away.

Asked for almost $300 per person in requests for pet projects from one of McCain’s top adversaries: indicted Sen. Ted Stevens. That’s more than any other state received, per person, from Congress for the current budget year. Other states got just $34 worth of local projects per person this year, on average, according to Citizens Against Government Waste.

Won’t Do Interviews Until It Knows She’ll Be Treated with “Deference”. (Does Charlie Gibson do deferential?)

Has connections to the radical Alaska Independence Party.

Supports windfall profits taxes on oil companies.

She will self destruct.

By raise hands

September 8, 2008 11:13 AM | Link to this

Please raise your hand if you have attended obama’s former church for service more than once?

Can someone please tell me what exactly that reverend wright said that was racist.

Before you respond please flip through your thesaurus and make sure you understand the definition of the word racism.

By Ga Dem

September 8, 2008 11:16 AM | Link to this

Drew, this may come as a shock to you, but most Democrats don’t really give a rat’s fuzzy where someone else puts their p—p—. Also, most of us think people’s personal family decisions are their own darn beeswax, too. Heh. Imagine such a world if you can.

Just to make you feel better, here are MY issues with Sarah Palin, that have nothing to do with being hateful, sexist, or intolerant: — Made a big speech about being anti-earmark, when record shows otherwise. — Stated she said “No, thanks!” to bridge to nowhere, when she was all for it before she was against it, and BTW, SHE KEPT THE MONEY! — Having a person one mini-stroke away from the Presidency who was part of a political party who wants their state to SECEDE from the Union! — That she tried to fire a librarian for not banning books, and her brother in law for being a bad boy in his marriage. — That she SNEERED in that ugly hateful way you decry at someone else’s community involvement, helping people make their lives better and support their families instead of going on welfare after their jobs disappeared. — That she parades her pregnant daughter in public so Rove and Hannity can go on for hours about how intolerant the Democrats are to women with children. — That she’s against educating school children about their own bodies, and holds up a failure of that policy as an example of its success (WHA…?) — That GOP spokespeople insult our intelligence by telling us that Alaska’s proximity to Russia constitudes de facto foreign policy experience. — That she thinks the invasion of Iraq, with all its changing justifications, is a “task from God.” — That she likes to shoot animals from helicopters for fun. (Not really a disqualifier for public office, but creepy to many of us.)

By Dusty

September 8, 2008 11:20 AM | Link to this

Sorry, AmVet,10:43

Republicans are no more injecting their religion into politics than democrats are injecting socialism into their politics.

Each American chooses a political leader on the basis of who is the most like them. They do not inject dogma, they choose from what is offered. The choice is seldom perfect.

Assuming that all Republicans are fundamentalists is like assuming that all Democrats are atheists. Not so. Some liberal Democrats go to my church.

If Republicans are in trouble, they sure are happy about it. The Presidential race for Republicans has leaped with joy. Democrats are surging the dogma of innuendos. You may claim to be neither but you are still frowning and fuming.

By Mrs. Godzilla

September 8, 2008 11:23 AM | Link to this

Here’s a great piece about the lies in Sarah Palin’s speech at the RNC….

Can’t tell me she’s a Christian….she’s blown that whole “Thou shalt not lie” thing!

By Dusty

September 8, 2008 11:30 AM | Link to this

Good grief, Mrs. Godzie,11:09

You forgot to mention that Sarah Palin did not feed her family ORGANIC food. Not to mention that she once gave her children SUGAR COATED CEREAL for breakfast. Think of THAT!!

If you are going to nitpick, at least do a thorough job. And no more “lists” from Dem headquarters, please. They sent you an old copy.

By hillbilly ragger

September 8, 2008 11:33 AM | Link to this

Ga Dem, about how “she SNEERED in that ugly hateful way you decry at someone else�s community involvement”

Yeah, of all the lies and distortions spread by the Republican stooges last week, that was probably the nastiest of all.

Not just because it’s hateful on its face—what kind of a jerk would criticize such work in a national forum, with tens of millions watching? after GHW Bush had hailed those individuals as part of “a thousand points of light?—but because it’s so deliberately phony.

Obama, from a quick read of his professional timeline, spent more time (about four years) working in the private sector after graduating from Columbia, then he did as a community organizer. Refresh everyone’s memory, Sarah—how much time did McCain spend working real jobs OFF the government dole, again?

And secondly, his time as a community organizer was the very first work he did out of grad school. The reason he’s justifiably proud of it is because it was a genuine sacrifice—the pay was paltry, he’d amassed huge college loan debts, and he could’ve walked into any number of six-figure gigs out of Harvard.

The only reason you’re hearing this sneering about his relatively short gig as a community organizer is because the Republicans want to make “community organizer” sound sinister. Like—oooh!—a UNION organizer! or—woooo!—a COMMUNIST!

I’m about at the point where if our voters are stupid enough to fall for this crap from these lying stooges, maybe they deserve the government they get.

By Southern Democrat

September 8, 2008 11:37 AM | Link to this

Regarding Senator Obama’s religion, I believe in a court I would object on the grounds of “asked and answered.” Alluding to the Muslim “rumors” is very uncharacteristically irresponsible of Mr. Wooten. And, unless I’m really losing it, I do believe that Senator Obama already had a speech on religion post-Rev. Wright fiasco?

I am okay with the Fannie/Freddie bail-out so long as similar federal guarantees are provided to individual homeowners who overstated their capital and cash on hand to those reviewing their financials. What’s the likelihood of that?

By Dusty

September 8, 2008 11:38 AM | Link to this

Ah Mrs. Godzie,11:23, if I may paraphrase….

Let she who does not lie, throw the first liaraccusation at Sarah Palin. That eliminates you, Godzie.

By Shrugging Atlas

September 8, 2008 11:42 AM | Link to this

The republican party is the party of double standards. Should we recap just a couple…

Slimmy Bill O’Reily and other Repugnants slam the Spears family for unwed, underage pregnancy, but fully embraces Palin’s daughter. As does JWooten, Ragnar Danneskj�ld, Dusy, and Ralph.

The McSame group builds their campaign on a theme of experience, and then brings in a VP barely qualified to be a Governor, and even less qualified to be President, if something were to happen to the old guy. Who touted that a VP should be able to take over on day one. Hypocrit.

Palin builds her life around the preaching of abstinance only education (or lack there of), but finds her own daughter sleeping around and getting pregnant. Also, a 40 year old women with 4 kids should think about birth control herself.

Countless repugnants fight against gay rights but yet find themselves at the center of attention for practicing homosexual acts, some in public. By the way where was Larry Craig at the convention? I guess he and Bush were huddled together watching the broadcast.

Ragnar Danneskj�ld Please explain to me how you and your party would react if a democratic candidate’s spouse was a member of a political party that fights for the succession of a state from the union? And what if that candidate gave the opening speach at their yearly convention, saying “Keep up the good work”. How is that not being a traitor? This is her, this is her family, this is not the pastor at her church, this is what her husband believs in, and obviously she supports it as well. And really I’m not looking for a long winded diatribe featuring lies and missinformation, I just want an honest answer to the question.

By Jimmy Joe Bob

September 8, 2008 11:50 AM | Link to this

{Ready for more of McSame?](http://budget.house.gov/)

By Shruggin Atlas

September 8, 2008 11:54 AM | Link to this

Dusty

I guess ignorance is bliss. And the mental image of repulican’s “leaping for joy” brings great images of Larry Craig. Thanks for the laugh this morning. Why don’t you seriously tell us why you like this ticket so much, and why it will only take another crappy republican to fix the mess you republican’s have gotten us into? Seriously, why should your party be rewarded for the last 8 years with 4 more years?

By Shrugging Atlas

September 8, 2008 11:54 AM | Link to this

Dusty

I guess ignorance is bliss. And the mental image of repulican’s “leaping for joy” brings great images of Larry Craig. Thanks for the laugh this morning. Why don’t you seriously tell us why you like this ticket so much, and why it will only take another crappy republican to fix the mess you republican’s have gotten us into? Seriously, why should your party be rewarded for the last 8 years with 4 more years?

By Jimmy Joe Bob

September 8, 2008 11:56 AM | Link to this

Ready for more of McSame?

Sorry about the previous post

By Jake

September 8, 2008 11:56 AM | Link to this

hillbilly - You make it sound like Hussein volunteered for the Peace Corps! Obama’s community organizer gig wasn’t exactly about unionizing the grape pickers or feeding the homeless. It was 100% about one single issue, getting out the black vote for the Dailey machine. And while he wasn’t paid very well directly, he was compensated handsomely with Michelle’s salary working for Dailey and then the hospital gig, which she got with Dailey influence.

By PTL

September 8, 2008 12:01 PM | Link to this

Jesus is a community organizer.

Pontius Pilate was a governor.

By Uh-huh

September 8, 2008 12:04 PM | Link to this

Jake, good point! What kind of hateful, intolerant, self-serving scum registers poor black people to vote and encourages them to take part in their communities, lives, and futures, instead of sitting around doing nothing and waiting for your tax dollars to feed them? And in AMERICA, too! The nerve….

By Ray

September 8, 2008 12:06 PM | Link to this

Obama can’t win without a much bigger lead in the polls to make up for the “I would never vote for a black candidate” crowd. Add the Hillary voters and just women in general (just would like to see a woman in the White House), a rejuvenated GOP , backlash against the MSM for being jerks and a fresh face on the scene. Hang it up, libs, the fat lady is singing.

By candide

September 8, 2008 12:07 PM | Link to this

In the movie The Departed Jack Nicholson sees two priest at lunch. He says: “Have a good lunch you coc….kers.”

By Salty Dog

September 8, 2008 12:09 PM | Link to this

Jesus is not a supporter of abortion. Barack Obama is. 40 million and counting.

By John1

September 8, 2008 12:09 PM | Link to this

Take away Obama’s telepromter and he’s not even sure what his message is….

By AmVet

September 8, 2008 12:11 PM | Link to this

Dusty, notwithstanding Wooten’s adoration for your most unchristian, unprovoked, scurrilous, personal attacks on MANY here, your claim, as always, simply is not supported by the facts.

The other tripe about socialism and YOUR blanket statements are irrelevant and childish.

Consider that this president stated how the Bible guides his thinking during an August, 2002 statement on the Middle East, “The choice here is stark and simple. The Bible says, ‘I have set before you life and death; therefore choose life.’ The time has arrived for everyone in this conflict to choose peace, and hope and life.”

Or his campaign remark that Jesus Christ was his “favorite political philosopher”.

Maybe this? In this2003 State of the Union address, Bush quoted an evangelical hymn that refers to the power of Christ. “‘There’s power, wonder-working power,’ in the goodness and idealism and faith of the American people,” he said.

Not enough? In 2000, he suggested that creationism should be taught alongside evolution in public schools since “religion has been around a lot longer than Darwinism.”

Yet more. In “Plan of Attack,” a book about Bush’s decision to go to war by Washington Post Assistant Managing Editor Bob Woodward, the president is quoted as saying that he prayed “for the strength to do the Lord’s will” in Iraq.

And again - the infamous quote, “I believe God wants me to be president”

It is an irrefutable fact that George W. Bush is among the most openly religious presidents in U.S. history. He reads the Bible everyday (supposedly) and he often talks about how Jesus changed his heart. He has spoken, publicly and privately, of hearing God’s call to run for the presidency and of praying for God’s help since he came into office.

He has brought into the inner sanctum and sought the repeated counsel of the greatest frauds and charlatans in American history. And not just Billy Graham, but the odious Falwell, Robertson, Dobson, Reed, and assorted other American Talibaptists, ad nauseum who GREATLY desire to shove their god in everybody’s face at every opportunity and who shamefully wish to pollute the most wonderful document ever written, the US Constitution, with useless definitions of marriage as a way to bludgeon the homosexuals with their Bible.

I do not attempt to disabuse you of your quaint notions, Dusty. All the facts, all the evidence and all of the data in the world are lost upon you and your type. It is for the benefit of other more rational participants here that I provide this information

That you choose not see these obvious truths, nor countless others on a wide variety of topics, does not mean anything but that you have demonstrated time and again that you simply cannot admit any mistakes. Nor learn anything new.

Much like your infallible president…

By PTL

September 8, 2008 12:14 PM | Link to this

Hey Salty, when did you talk to Jesus about his views on abortion? I’ve been reading my Bible and can find no mention of the subject.

By AmVet

September 8, 2008 12:15 PM | Link to this

Dusty, notwithstanding Wooten’s adoration for your most unchristian, unprovoked, scurrilous, personal and hateful attacks on MANY here, your claim, as always, simply is not supported by the facts.