Obama Pummels McCain on Economic Policy
by Damozel Finally.
As Big Tent Democrat says, it is a barnburner.
Great speech. Great delivery. As close to being like Bill Clinton on the economy as I have seen him. The Barack Obama I saw today will win this election easily. (Talk Left)
Some of my favorite bits:
Make no mistake: my opponent is running for four more years of policies that will throw the economy further out of balance. His outrage at Wall Street would be more convincing if he wasn’t offering them more tax cuts. His call for fiscal responsibility would be believable if he wasn’t for more tax cuts for the wealthiest Americans, and more of a trillion dollar war in Iraq paid for with deficit spending and borrowing from foreign creditors like China. His newfound support for regulation bears no resemblance to his scornful attitude towards oversight and enforcement.
Cutting The Bull ” Breaking the buck
The Wall … Breaking the buck. One of my earliest posts examined the potential risks in … money to insure that its money markets did not break the buck: …
Why Iran’s Oil Bourse can’t break the Buck Energy Bulletin
Why Iran’s Oil Bourse can’t break the Buck. by F. William Engdahl … That advisory paper, “A Clean Break: A New Strategy for Securing the Realm” …
John McCain cannot be trusted to reestablish proper oversight of our financial markets for one simple reason: he has shown time and again that he does not believe in it. (TPM)
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[T]he truth is, what Senator McCain said yesterday fits with the same economic philosophy that he’s had for 26 years. It’s the philosophy that says we should give more and more to those with the most and hope that prosperity trickles down. It’s the philosophy that says even common-sense regulations are unnecessary and unwise. It’s a philosophy that lets Washington lobbyists shred consumer protections and distort our economy so it works for the special interests instead of working people.
Breaking the Buck - GoldSeek.com
… suffer from lack of U.S. bucks…more to life than soybeans and … For the first time ever, the funds may “break the buck,” meaning, they might not …
Hannah upp found
We’ve had this philosophy for eight years. We know the results. You feel it in your own lives. Jobs have disappeared, and peoples’ life savings have been put at risk. Millions of families face foreclosure, and millions more have seen their home values plummet. The cost of everything from gas to groceries to health care has gone up, while the dream of a college education for our kids and a secure and dignified retirement for our seniors is slipping away. These are the struggles that Americans are facing. This is the pain that has now trickled up.(TPM)
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Americans have always pursued our dreams within a free market that has been the engine of our progress. It’s a market that has created a prosperity that is the envy of the world, and rewarded the innovators and risk-takers who have made America a beacon of science, and technology, and discovery. But the American economy has worked in large part because we have guided the market’s invisible hand with a higher principle - that America prospers when all Americans can prosper. That is why we have put in place rules of the road to make competition fair, and open, and honest.
Too often, over the last quarter century, we have lost this sense of shared prosperity. And this has not happened by accident. It’s because of decisions made in boardrooms, on trading floors and in Washington. We failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices. We let the special interests put their thumbs on the economic scales. The result has been a distorted market that creates bubbles instead of steady, sustainable growth; a market that favors Wall Street over Main Street, but ends up hurting both.
Free Preview - WSJ.com
SEI, Rival Money Funds Go on Offense to Avoid ‘Breaking the Buck‘ … that mark — known as “breaking the buck” — could send investors running for the door. …
Let me be clear: the American economy does not stand still, and neither should the rules that govern it. The evolution of industries often warrants regulatory reform - to foster competition, lower prices, or replace outdated oversight structures. Old institutions cannot adequately oversee new practices. Old rules may not fit the roads where our economy is leading. But instead of sensible reform that rewarded success and freed the creative forces of the market, too often we’ve excused an ethic of greed, corner-cutting and inside dealing that threatens the long-term stability of our economic system.(TPM)
He then lays out the mechanics of his own economic acheter cialis plan. I liked all of it, but the above remarks are things I needed to hear him say. Let other Democrats take up the cry.
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Yes, that’s the speech I’ve been wa
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