- When Bush and the GOP Congress started out this decade, they projected a $5.6 trillion surplus from 2002-2011. Instead, we will have a $3.8 trillion deficit. Thanks, GOP, for pissing away $9.4 trillion.
- The "credit swaps" legislation passed by McCain's economic adviser Phil "nation of whiners" Gramm directly contributed to the current crisis. Thanks, GOP.
- We've enjoyed stronger "fundamentals" under Democratic presidents than Republicans (I mentioned one of these fundamentals a while back -- income inequality)
- Republicans are all for "capitalism"...so long as that means letting really really wealthy people make billions, then bailing them out: privatized profits & socialized losses. When the really wealthy power brokers of the GOP are getting hurt, it's time to step in with nationalized finance...but not when people like you and I are.
- McCain and the GOP have no clue on health care, the leading cause of bankruptcy in America, causing 1.9 M / yr.
- McCain's strong de-regulation emphasis goes all the way back to the Keating 5 scandal, and he has been shown to have been a major player in the S&L crisis that resulted.
- On that note, McCain is advised by a bunch of financial lobbyists, while Obama is endorsed by economists 2:1 over McCain.
Friday, September 19, 2008
Democrats v. Republicans on the economy
Americans will be hearing a lot from the media in the next few days about the underlying causes of the financials market freeze-up, but they won't be hearing the hard facts: