Posted tagged ‘Mortgage Crisis’
October 31, 2008
McCain’s spending freeze isn’t breaking news, but it’s one of his scariest proposals. He’s right about one thing: drastically increases taxes will further damage our economy. Fortunately, no one is proposing across the board tax increases. In fact, Obama–the usual target of McCain’s “tax and spend” lies–is proposing a tax cut for 95% of American workers. And that would be on top of household savings from health care costs, better health, and higher wages from a stimulated economy.
McCain is wrong about another fundamental part of the economy; government spending. His blunt force government spending freeze would eliminate jobs and drive the economy into a complete recession, if we’re not there already. It’s a dangerous proposal, and foresight into McCain’s governing style of zero attention to detail, no fact-based solutions, and policies that politically sound good, but fail to deliver.
In addition, this overzealous measure is confusing when stacked next to McCain’s plans to spend billions in Iraq and in new programs. In Governor Palin’s first “major policy address” (the week before the election) she promised to fully fund research into Autism, among other diseases. Would that fall under McCain’s own spending freeze? Who knows. These policies are only based on politics. We need strong politics for four more days to pick a winner in this race. Then, we need strong policies for four more years. If the last twenty months are any indication of what’s to come, Obama is the only candidate in this race with the ability to lead.
Categories: America, Biden, Economics, Election 2008, Energy, Environment, Health, Iraq, McCain, Obama, Patriotism, Pretenders
Tags: $700B, $700B Bailout, 2008 Presidential Campaign, 2008 Presidential Election, Bailout, Barack Obama, Ben Bernake, Campaign 2008, Chris Cox, Education, Election 2008, Energy, Fannie Mae, Fed, Federal Reserve Bank, Financial Crisis, Financial Sector, Freddie Mac, GOP Political Cartoon, Health Care, Health Insurance, Henry Paulson, Infrastructure, Joe Biden, John McCain, Massive Bailout, Mortgage Crisis, Open Market, Palin Cartoon, Palin Political Cartoon, Political Cartoon, President Of the United States, Presidential Campaign, Presidential Campaign 2008, Presidential Election, Republican Political Cartoon, Researc h, Sarah Palin, Sarah Palin Political Cartoon, Scientific Research, SEC, Spending Freeze, U.S. Treasury, Uninsured Americans, Wall Street, Wall Street Bailout
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October 14, 2008
From the debate:
Obama: So we’re going to have to make some investments, but we’ve also got to make spending cuts. And what I’ve proposed, you’ll hear Sen. McCain say, well, he’s proposing a whole bunch of new spending, but actually I’m cutting more than I’m spending so that it will be a net spending cut. […]
McCain: Do you know that Sen. Obama has voted for — is proposing $860 billion of new spending now? New spending.
That’s right, Senator Obama and Democrats are now used to the Republican rhetoric enough to accurately predict the upcoming lies and offer the Republican a chance to say something else–or at least phrase it in a different way. Yet McCain proved once again in this statement that he’s all systematic rhetoric programmed at the Republican National Committee headquarters. How is this even considered civil discourse or productive debate in choosing a president?
McCain’s best argument for the presidency is that Obama is proposing new spending, an untruthful and boring Republican standard. Of course he’s proposing new spending. McCain is too! Every candidate for every office promises new programs, new tax cuts, or maybe even both. All involve new spending.
Obama specifically said yes to new spending, including investments in infrastructure and energy jobs across the country. Then he stated in unequivocal terms that his plans involve more cuts then spending, leading to, wait for it, a “net spending cut.”
Senator McCain’s programmed statements are an insult to the American voter. Please, Senator McCain, have some respect; don’t spew Republican rhetoric at us, when we all know its absolutely false. You’re better than that, but you haven’t shown in in a long, long time.
Take Back the Flag’s Take on the second presidential debate is based on direct language from the CNN transcript.
Categories: America, Democrats, Economics, Election 2008, Energy, Environment, McCain, Pretenders, Progress, Republicans, RNC
Tags: $700B, $700B Bailout, 2008 Presidential Campaign, 2008 Presidential Election, 2008 Republican Platform, Bailout, Barack Obama, Ben Bernake, Campaign 2008, Chris Cox, Election 2008, Energy, Fannie Mae, Fed, Federal Reserve Bank, Financial Crisis, Financial Sector, Freddie Mac, GOP, Green Jobs, Henry Paulson, Hypocrisy, Infrastructure, Jobs, Joe Biden, John McCain, Massive Bailout, Mortgage Crisis, Neo-Conservatives, Open Market, President Of the United States, Presidential Campaign, Presidential Campaign 2008, Presidential Debate, Presidential Election, Republican Failures, Republican Hypocrisy, Republican Lies, Republican Party, Republicans, Repulican National Committee, RNC, Sarah Palin, SEC, Take Back the Flag's Take, U.S. Treasury, Wall Street, Wall Street Bailout
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October 7, 2008
Part two of Take Back the Flag’s cartoon series. We’re a little behind schedule posting this right after the Obama-McCain debate, but we’ll get back on track. Click the cartoon for the full size, and please share your comments and suggestions below.
Categories: America, Conservatives, Election 2008, McCain, Palin, Pretenders, Republicans
Tags: $700B, $700B Bailout, 2008 Presidential Campaign, 2008 Presidential Election, 2008 Republican Platform, Alaska Political Cartoon, Alaskan Governor, Bailout, Barack Obama, Ben Bernake, Bristol, Campaign 2008, Chris Cox, Election 2008, Fed, Federal Reserve Bank, Financial Crisis, Financial Sector, First Dude, GOP, GOP Political Cartoon, Governor Palin, Henry Paulson, Hypocrisy, Joe Biden, John McCain, Massive Bailout, Mortgage Crisis, Neo-Conservatives, Open Market, Palin Cartoon, Palin Political Cartoon, Pregnant, President Of the United States, Presidential Campaign, Presidential Campaign 2008, Presidential Election, Republican Failures, Republican Hypocrisy, Republican Lies, Republican Party, Republican Political Cartoon, Republicans, Sarah Palin, Sarah Palin Political Cartoon, SEC, Teenage Pregnancy, Todd Palin, U.S. Treasury, Unvetted, Vice President of the United States of America, Wall Street, Wall Street Bailout
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October 6, 2008
John McCain’s distinguished public service career spans 26 years. In a sense, its very honorable. But looking at the character of Senator McCain revealed in the current campaign, his service looks more like a power grab to benefit himself and his friends. Now, in the midst of another financial crisis stemming from industry deregulation, McCain is trying to distance himself from Washington. One minute he’s the experience leader putting country first, the next, he’s a reforming maverick who’s ready to change Washington. 26 years later? Its about time.
The only mavericky thing McCain did was pick Sarah Palin. McCain must have felt like such an insider that he needed to bring in an extreme outsider who has no Washington experience, no credibility, and no understanding of the world around her.
Senator Obama, on McCain’s sudden reach for the outsider status:
Categories: America, Economics, Election 2008, McCain, Obama, Palin, Pretenders, Republicans
Tags: $700B, $700B Bailout, 2008 Presidential Campaign, 2008 Presidential Election, 2008 Republican Platform, Alaska, Alaskan Governor, Bailout, Barack Obama, Ben Bernake, Bristol, Campaign 2008, Chris Cox, Corporate, Election 2008, Fed, Federal Reserve Bank, Financial Crisis, Financial Sector, First Dude, GOP, Governor Palin, Greed, Henry Paulson, Hypocrisy, Inspiration, Leadership Vice President of the United States of Amer, Lobbyists, Massive Bailout, Mortgage Crisis, Neo-Conservatives, Open Market, Pregnant, President Of the United States, Presidential Campaign, Presidential Campaign 2008, Presidential Election, Republican Failures, Republican Hypocrisy, Republican Lies, Republican Party, Republicans, Sarah Palin, SEC, Tax Breaks, Tax Cuts, Teenage Pregnancy, Todd Palin, U.S. Treasury, Unvetted, Vision, Wall Street, Wall Street Bailout
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September 26, 2008
In response to Senator McCain’s desperate call to delay the first presidential debate while “suspending his campaign,” Obama explained his commitment to share his thoughts with the American people:
“It’s my belief that this is exactly the time when the American people need to hear from the person who in approximately 40 days will be responsible for dealing with this mess.” (CNN)
This suspended campaign is an insult to the intelligence of everyone in America; at no time within forty days of a presidential election is a move, statement, or motive not politically calculated. One can barely “suspend” two years before the election to tend to other issues while the parties and candidates jockey for position in the primaries.
Admittedly, McCain is in a tough spot. With his party in power and America facing a financial crisis considered the worst in decades, he needs to carefully consider every move as he combats Obama’s campaign theme of change. And purely politically, this might be a good move; it show’s some type of leadership and dedication to the job he was elected to. But don’t insult us by saying this particular crisis is bad enough to “leave” the campaign trail, and everything from this point forward is only for “the good of the country.”
Why is this particular crisis worthy of this attention? No one will argue that the financial situation is dire, but Americans suffer from unfair taxes, lack of health insurance, unacceptable education, and flawed national security policies everyday. McCain’s intentional spotlight on the financial crisis is supposed to make him appear as a strong and confident leader for the American people. We’re supposed to think something like “Wow. McCain is so noble, so strong, so confident, so effective, so country first that he chose to give up campaigning to attend to this national crisis.” But really, McCain finally decided to do the job he’s getting paid for (with your tax dollars) right now. So I say: about time.
To be fair, Obama too has missed a number of votes and committee work while campaigning. But he doesn’t demean us like McCain. Obama knows he’s working for an important cause, a limited time offer, in his run for the presidency. He knows, and we know, that the missed time in the Senate is worthwhile. As usual, Obama said it best: “I think that it is going to be part of the president’s job to deal with more than one thing at once.”
Categories: America, Bush, Conservatives, Democrats, Election 2008, Iraq, McCain, Obama, Patriotism, Pretenders, Progress, Representatives, Republicans, Senators
Tags: Barack Obama, Chris Cox, Debate, Education, Election 2008, Federal Reserve Bank, Financial Crisis, Foreign Policy, Health Insurance, John McCain, McCain Suspended Campaign, Mortgage Crisis, National Security, Presidential Campaign, Presidential Campaign 2008, Presidential Debate, Presidential Election, Presidential Election 2008, Republican Hypocrisy, Republican Lies, Republican Smears, SEC, Secretary Henry Paulson, Suspended Campaign, Taxes, U.S. Senate, U.S. Treasury
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September 25, 2008
The 2008 Republican Platform addressed the mortgage crisis in America by supporting limited federal involvement, mostly focused on investigations of illegal practices. Also, the Republicans boldly asserted their stance on the guaranteed prosperity from the open market:
“We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself.”
Well, President George W. Bush has $700 billion dollars that says otherwise. Take Back the Flag will not pretend to have the necessary technical knowledge of the U.S. financial sector to judge whether or not a bailout/rescue plan is the right move. From what we are hearing in the news from both parties, it seems like we might have no other option. We do however strongly support the provisions that Senator Obama (and even in a few cases, Senator McCain) supports as edits to this bill. (Its absurd to believe that this money could go into the hands of one man with no oversight and executives could make millions while their companies crumble). This proposed bailout does not show the economic incompetence of McCain or the Republicans in times of crisis. Instead, it highlights the Republican parties unreasonable relentless pursuit of “open market” solutions and the failures the party’s uncompromising ways have brought.
Economic theory holds the general case of an open market as the most efficient mechanism for society. Strong goods are bought and sold while weaker, less desirable products and services are forced out of business. Transactional costs are minimized, and the open market requires no subsidies or other engineering spending. All this is based on some serious theoretical assumptions.
Anyone versed in even the most basic principles of economics will support the general idea of the open market. But those with more insight into the American way of life will also realize the necessity to balance market forces with regulation and yes, government intervention. The Republicans need to get off their high open market horse and work with some compromises to better our country. It is simply unbelievable that this conservative party trots around declaring government the root of evil, and promising less government involvement. Even with the obvious and egregious break from their own platform to clean up this mess they made, will the lies and campaign hype about “keeping the government out of our lives stop”? Probably not.
Categories: America, Bush, Democrats, Economics, Election 2008, McCain, Obama, Pretenders, Progress, Republicans
Tags: $700B, $700B Bailout, Barack Obama, Bush Administration Failures, Bush Failures, Democrats, Economic Theory, Election 2008, Finaicial Sector, George W. Bush, GOP, John McCain, Massive Bailout, Mortgage Crisis, Open Market, Open Market Failures, Presidential Campaign, Presidential Campaign 2008, Presidential Election, Presidential Election 2008, Republican 2008 Platform, Republican Failures, Republican Hypocrisy, Republican Lies, Republican Party, Republican Platform, Wall Street, Wall Street Bailout
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