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Monday, September 15, 2008

Obama: GOP Ignores Economic Problems

Campaign quote of the day, on today's "turmoil" on Wall Street:

I certainly don’t fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to. It’s a philosophy we’ve had for the last eight years – one that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else. It’s a philosophy that says even common-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises.

—Senator Barack Obama, quoted on Politico.com, 2008.09.15

Leadership means anticipating and averting problems, not waiting for crises to lead you to action.


  1. We can't let Bush take all the blame for this one. We need to blame every president who squandered opportunities to lead us away from the path of rampant consumerism. We need to look at ourselves in the mirror and own our part of the problem. We are all greedy and rotten to the core.

  2. chuck ritter9/15/2008 1:15 PM

    Do all of you know 'The Fed' has nothing to do with the Government?

    It is it's own entity. Congress and the President have no influence on the flow of money other than governmental regulations and taxes.

  3. Except all the blame can't be placed on the President. Didn't we have a Democrat Congress the last two years? What did they do to avoid this situation. Show me what Obama has accomplished, or even tried (besides income redistribution), to change the economy. The blame falls on Dems and Repubs alike.

  4. pennypincher9/15/2008 8:33 PM

    Bush shouldn't take all of the blame, but he has also stated that he said that we would have to just ride this out (oil prices, economy, etc.).

    I agree, Dems and Repubs alike are all to blame. Biden and Obama state they have made changes. McCain states he has stood up and made changes in Washington. What changes has either of them made?

    In my opinion, OPEC is partially to blame for oil prices the way they are. I just heard the comment on the news that OPEC was cutting production so that oil wouldn't fall much below that $100/barrel. Ok, oil is killing everyones check books and OPEC doesn't want to give anyone a break. Hmmm... Sounds fishy to me. Maybe I am just off my rocker.

  5. Just checked the Cody Enterprise (newspaper) online poll for the election. As of this writing ...

    McCain/Palin = 71%
    Obama/Biden = 26%
    Undecided = 3%

    The Cody area is booming. I guess the people out in western Wyoming are too ignorant to realize that the the economy is tanking and it's the Republicans' fault.

    How come they don't wake up and panic?


  6. pennypincher9/16/2008 4:50 AM

    Stan, I think it is unfair to just blame the republicans for this mess. There are more democrats in Washington right now than Republicans and I haven't seen one thing done to help out the situation.

  7. Pennypincher,

    I was attempting to use some dry humor! Actually, I agree with you completely, and my intent was to convey that sentiment.

    Alas, I commited a Bidenism (bye-den-izm). Way too dry, and on the rocks.

    I think the current economic problems are being exploited by the Democrats. That much is fair. The sad part is that such exploitation may increase the danger of a general panic, hurting us all.

  8. To quote Cory, "Leadership means anticipating and averting problems, not waiting for crises to lead you to action."

    Well, apparently McCain did anticipate this problem in 2005 and called for oversight over Freddie and Fannie. But guess who among others blocked all attempts to do so (Obama of course!).

    And one reason why may be that Obama received the second highest amount of money from Freddie Mac/Fannie Mae of all Senators (while only being in the Senate for three years), even surpassing John Kerry who had been in the Senate for 20 or so years. Evidently the money spent by Fannie and Freddie in this case was well spent!

    So, once again, by your own words, Cory, you should be supporting McCain since "leadership means anticipating and averting problems, not waiting for crises to lead you to action!"



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