Nathan Tyree: Meltdown
Times are tough all over. Economically speaking, the signs and portents are not at all good. The stock market suffered its sixth worst day ever and may be approaching free fall. Banks and investment firms are tumbling like badly placed dominoes. Unemployment is rising quickly. The mortgage crises is deepening. Inflation is becoming a staggering reality fuelled by high gasoline costs and a sinking dollar. The trade deficit is growing out of control. John McCain says that "the fundamentals of the economy are strong". This is not a slip of the tongue. McCain has repeated this talking point again and again on the stump. The architect of McCain's economic plan, Phil Gramm (who is also the deregulatory fiend most responsible for the current crises), has said that the recession is "mental" and that Americans are "whiners". McCain is the titular head of the party that has brought us to this dark time, and yet he insists that he should be given four more years to continue the pillage of our futures. He even wants to turn Social Security over to the same corporate pirates that have outsourced our futures.
Alan Greenspan has said that the nation cannot afford McCain's tax policy. That policy includes massive tax cuts for the wealthiest individuals and bizarre tax breaks for corporations that ship American jobs over seas. It also includes hidden tax increases for the middle class and working poor. McCain wants to treat employer provided health insurance as real income and tax it at the same marginal rate as other income. This is a regressive, destructive measure that deserves more attention than it has received.
Most economists agree that the current mortgage crises is a direct result of deregulation. McCain favored those measures, and still favors them. He is unable to admit that he was wrong. Further, McCain does not want to focus on the economy. He would rather the debate be about personality. Who can blame him? If American's are thinking about issues, then he is dead in the water.
So, he will continue to make outlandish, false attacks. He will send Palin on the stump to spread snark and disinformation. He will lie and obfuscate. Yet, the truth will shine through. People will learn about the corruption inherent in McCain's camp. They will see through the lobbyists running his campaign. They will learn about the mounting Scandals that haunt Sarah Palin. As she refuses to cooperate with the investigation into her abuse of power, the word will spread. In the end, the good guys will win.
I do not believe that we can afford a John McCain presidency. I hope that the American electorate comes to the same rational conclusion.
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