The second presidential debate. Overall, McCain performed pitifully. Obama was OK. I hate to hear from him the requisite "tough talk" re: foreign policy, but he at least was able to articulate his thoughts in a coherent manner. McCain was just all over the place.
And point of fact, McCain actually name-checked the "freedom fighters" (dig that Reagan-era term) that he claimed defeated the Soviets, with American help, in the early 80s, and then said "we made a mistake and stopped supporting the freedom fighters and let the Taliban back in." I'm paraphrasing, but this is the brunt of what the man said. Is he really unaware that the "freedom fighters" who expelled the Soviets and the Taliban who came to power in 1997 are one and the same? And beyond that, that they both defeated the USSR and gained control of Afghanistan with the money and weapons that the US provided them? Does John McCain know this? Does he know anything??
Snap polls say it was an Obama smackdown. This, coupled with the Biden dismantling of Sarah Palin, and the McCain camp's gung-ho move towards ultra-negative campaigning, could signal the demise of the Republican candidate.
08 October 2008
06 October 2008
29 September 2008
The Bailout Is Dead
Such high drama on Capitol Hill these days. It's riveting.
A few thoughts...
The Paulson plan deserved to be killed for a number of reasons, but the most important is that it went looking for a solution in the wrong place, that is the buying up of troubled Wall St assets. Pual Krugman, Brad DeLong, Nouriel Roubini, and others have argued convincingly that the best way to fix the problem is a recapitalization of failing banks, not simply taking their junk off their hands. This is how Sweden avoided calamity in the early 90s, so there is precedent as well. The Paulson plan would amount to suturing someone's leg when their head has a hole in it.
The politics of the matter are downright ugly. The House Republicans killed this bill, and the reasons seem to vary wildly, from simple cover-your-ass mentality in an election year to actual principled opposition to funding this rescue with taxpayer money. But the failure on both ends lies with the GOP, from their President and Congress who allowed this mes to happen, to the partisan posturing that resulted in the No vote.
But, Democrats should not be so eager to pass something just to be seen as proactive, especially when the major tenets of the bill are and always have been Republican-authored. Again, some Democrats voted Nay on principle, some on political considerations. But the key is to get sensible, take a deep breath, and get to the bottom of it, thereby crafting a plan that addresses the problem properly, protects the taxpayer, and installs a frameork for prevention of future disaster.
A few thoughts...
The Paulson plan deserved to be killed for a number of reasons, but the most important is that it went looking for a solution in the wrong place, that is the buying up of troubled Wall St assets. Pual Krugman, Brad DeLong, Nouriel Roubini, and others have argued convincingly that the best way to fix the problem is a recapitalization of failing banks, not simply taking their junk off their hands. This is how Sweden avoided calamity in the early 90s, so there is precedent as well. The Paulson plan would amount to suturing someone's leg when their head has a hole in it.
The politics of the matter are downright ugly. The House Republicans killed this bill, and the reasons seem to vary wildly, from simple cover-your-ass mentality in an election year to actual principled opposition to funding this rescue with taxpayer money. But the failure on both ends lies with the GOP, from their President and Congress who allowed this mes to happen, to the partisan posturing that resulted in the No vote.
But, Democrats should not be so eager to pass something just to be seen as proactive, especially when the major tenets of the bill are and always have been Republican-authored. Again, some Democrats voted Nay on principle, some on political considerations. But the key is to get sensible, take a deep breath, and get to the bottom of it, thereby crafting a plan that addresses the problem properly, protects the taxpayer, and installs a frameork for prevention of future disaster.
28 September 2008
James Fallows Throws Down
Check it.
For kicks, just try and parse this nonsense from Sarah Palin during her Katie Couric interview:
Couric: Why isn't it better, Governor Palin, to spend $700 billion helping middle-class families who are struggling with health care, housing, gas and groceries? Allow them to spend more, and put more money into the economy, instead of helping these big financial institutions that played a role in creating this mess?
Palin: That's why I say I, like every American I'm speaking with, we're ill about this position that we have been put in. Where it is the taxpayers looking to bail out. But ultimately, what the bailout does is help those who are concerned about the health care reform that is needed to help shore up our economy. Um, helping, oh, it's got to be about job creation, too. Shoring up our economy, and putting it back on the right track. So health care reform and reducing taxes and reining in spending has got to accompany tax reductions, and tax relief for Americans, and trade -- we have got to see trade as opportunity, not as, uh, competitive, um, scary thing, but one in five jobs created in the trade sector today. We've got to look at that as more opportunity. All of those things under the umbrella of job creation.
It's just sad. When you can't handle questioning from Katie fucking Couric, you know you're pathetic.
Remember - Palin has undoubtedly been briefed about what will be asked of her. She's been sequestered away and tutored and trained and told what to expect. And she still fails. I think she's actually worse than George W. Bush.
For kicks, just try and parse this nonsense from Sarah Palin during her Katie Couric interview:
Couric: Why isn't it better, Governor Palin, to spend $700 billion helping middle-class families who are struggling with health care, housing, gas and groceries? Allow them to spend more, and put more money into the economy, instead of helping these big financial institutions that played a role in creating this mess?
Palin: That's why I say I, like every American I'm speaking with, we're ill about this position that we have been put in. Where it is the taxpayers looking to bail out. But ultimately, what the bailout does is help those who are concerned about the health care reform that is needed to help shore up our economy. Um, helping, oh, it's got to be about job creation, too. Shoring up our economy, and putting it back on the right track. So health care reform and reducing taxes and reining in spending has got to accompany tax reductions, and tax relief for Americans, and trade -- we have got to see trade as opportunity, not as, uh, competitive, um, scary thing, but one in five jobs created in the trade sector today. We've got to look at that as more opportunity. All of those things under the umbrella of job creation.
It's just sad. When you can't handle questioning from Katie fucking Couric, you know you're pathetic.
Remember - Palin has undoubtedly been briefed about what will be asked of her. She's been sequestered away and tutored and trained and told what to expect. And she still fails. I think she's actually worse than George W. Bush.
27 September 2008
There's Always Something Beneath The Surface
The Washington Post offers a fascinating glimpse into the political wrangling over the financial bailout plan. Remember that this is the backdrop for Friday's presidential debate, the one McCain said he wouldn't do if there wasn't a deal, but which went ahead anyway after McCain's very presence in the negotiations ruined the deal.
As more and more leaks out about McCain's true character, it's clear that he is just a nasty bastard. His not looking at Barack last night was just the surface.
As more and more leaks out about McCain's true character, it's clear that he is just a nasty bastard. His not looking at Barack last night was just the surface.
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