FOX Forum

Obama’s Economic Plan: What Would Normally Be Called a ‘Pander’, Is Now Called a ‘Rescue’

As seen on FOX News Channel’s “Special Report” on October 13

CHARLES KRAUTHAMMER, SYNDICATED COLUMNIST/FOX NEWS CONTRIBUTOR: I think the brilliance of this [plan] is that Obama understands that the economic meltdown has helped him in two ways. First of all, obviously, it makes people want to throw the incumbent rascals out and bring in Democrats.

But, secondly, because the government had passed a package of $700 billion, which is a huge number and which is impressed itself in the national consciousness, everything else seems like lunch money.

So here he is proposing $60 billion in spending that in ordinary times you would have an argument about. People would say you are exploding the deficit. You would have a debate about each of these elements, all of which are the traditional Democratic, liberal, tax and spend stuff that you would expect in a pending or looming recession, including not only the elements we have heard, but a 10 percent rebate from the government. It pays 10 percent of your mortgage, extending unemployment insurance, relief of property taxes for municipalities, all kinds of goodies. And $25 billion extra thrown at the auto companies. We already had a piece of that $25 billion thrown in a week or two ago that nobody noticed, again in the shadow of the $700 billion.

So he is using that, in a time of national emergency, in which the $700 billion was really an exception, but using it cleverly as a way to cover handing out the usual goodies to Democratic constituencies on the eve of an election.

Normally it would be called a pander and now he calls it a national rescue.

BRIT HUME, HOST: Well, you have told us what you think about it politically–brilliant. What do you think about it economically?

KRAUTHAMMER: It’s money thrown in the wind and will have no effect.

212 Responses to “Obama’s Economic Plan: What Would Normally Be Called a ‘Pander’, Is Now Called a ‘Rescue’”

Pages: [3] 2 1 » Show All

Comment by Stan

I don’t understand why you conservatives, which is what you claim to be aren’t up in arms over the very liberal plans John McCain has. You people would vote for the devil if he said he was a Republican. Go Obama!!

 
Comment by Joey

Where is the outrage about Election Fraud by Obama’s Acorn.

First the liberals controlled the Media now they control the election process.

Welcome to the United states of Venezuela

Welcome to the United States of Zimbawawa

 
Comment by Joey

Does Obama H. campaign symbol remmind you of a Nuclear Bomb?

 
Comment by Joey

Abomination/// Obamanation

Welcome to Obama H.

 
Comment by mike sommer

To me and maybe others that we think [ Obama is a wolfe in sheeps clothing ].

 
Comment by Paul Shipton

This is all interesting, however; at the crux of the matter is the liberal mentality that assumes there is so much money that they can be benevolent with tax payer dollars. Senator Obama mentions eight years of failed economic policy and obviously, avoids major democratic party involvement.
Energy
The liberals have blocked legislation that would provide energy in the form of clean coal and nuclear only to move recklessly toward bio fuels which as a result created a global hunger incident of major proportions. Bio fuel incentives brought about by democrats used the wrong plant material which caused farmers to sell corn to make fuel additives that would have otherwise gone to cattle feed and other starving nations around the world. The democrats have also block the energy independence movement by adding massive regulation to the construction of refineries responsible for making gasoline. The result, 1 hurricane hits 1 state and the entire south east region has an instant gasoline shortage. The democrats also block legislation to allow oil exploration on the coasts of the nation and when that too fails; they allow exploration in the 12% of the coast (50 miles off shore) that returns the least amount of return on investment. Why not exploration in the 88% of the coast (10-50 miles off shore) that allows the likelihood of positive return on investment.

The unexpected rise in oil caused a rise in gasoline which caused a rise in all items transported. Food, durable goods and transportation felt the grip tighten. Prices went up, layoffs began, jobless numbers increased and mortgages went to default. Energy independence may not have helped the sub-prime mortgage meltdown, however; homeowners working two jobs to maintain the ARM and live in their homes could not withstand the loss of second jobs because of increased fuels costs and the depletion of discretionary income. Something had to give.

Credit
The liberals have contrived to create an atmosphere of lending in spite of good business sense. Under Clinton, the bar was raised by HUD via Andrew Cuomo. The so called red line was encouraged to be met by the administration. Capitalists saw an opportunity to make money with the federal government backing it up simply by making bad loans.

The liberal Democratic Party owns energy dependence, the sub-prime market debacle, soaring unemployment and they own a record of not delivering what they promise, i.e. Clinton promising a middle class tax break. A government surplus of cash is over taxation, not fiscal responsibility.

Obama has demonstrated through his words (spread the wealth) that he understand little of the complex economic structure and has consistently failed to garner advice from all experts, not just liberal ideologues.

 
Comment by Bill in Vegas

Furthermore, the energy crisis is also not a new issue, but the environmental wackos (another product of the permissive liberal mindset) who intimidated the legislators into denying any new nuclear power plants, any new oil refineries, offshore drilling, and other possible remedies which could have prevented our increasing dependence on foreign sources of energy resulting in our sending $700 Billion each year to foreign interests. Also maintaining tighter watch on trade, such as equating the price of grain to the increased price of oil would have helped, but is now too late. The reason for this is we let other countries get into the market for wheat, cutting the demand for our product.
Ethanol subsidies have negatively impacted food prices, while farmers devote more acreage to producing corn for ethanol than for food products.
Do you know why there is no wind turbine farm in the Long Island Sound? Ask Ted Kennedy.
I blame spineless legislators who caved on these issues instead of fighting against these ridiculous ideas, the same way cell towers are not allowed in certain areas.
When has anyone on welfare provided a job for anyone? Oh, yeah, I forgot all the bureaucrats it takes to administer the program, to process the paperwork, to create the paperwork, to conduct(?) the interviews, to monitor the results and produce the reports which justify their jobs in the first place.

 
Comment by LAURAJ

I AM ALWAYS ASTONISHED AT THE DIFFERENT VIEWS AMERICANS HAVE ON POLITICS BECAUSE THEY WANT TO BELIEVE THEM! WE ALL KNOW OBAMA IS LYING ABOUT PRACTICALLY EVERYTHING HE SAYS, BUT YET THERE ARE SOME THAT JUST CANT FACE THE FACT THAT THIS “ELOQUENT SPEAKER” HAS AN ULTERIOR MOTIVE AND WE KNOW ITS NOT GOOD NEWS. YET WE WANT TO CLING TO IT! SAY IT ISNT SO AS IF THAT WILL CHANGE THE FACTS.

PUNDITS, THEY GET PAID JUST LIKE ANYONE ELSE WHO WORKS!! THEY HAVE NO IDEA WHAT THE PULSE IS OF MOST AMERICANS. THEIR POLLS ARE ALWAYS WRONG, THEIR ASSESSMENTS SKEWED!!

HEY, SOLID AMERICANS, AND YOU KNOW WHO YOU ARE, USE YOUR JUDGEMENT. GO TO THE POLLS AND EXCERCISE YOUR RIGHT TO VOTE!! IT WILL NEVER BE MORE IMPORTANT THAN THIS ELECTION!!

M-I-C-K-E-Y MOUSE! COULDNT RESIST! LMAO ROTF

 
Comment by Bill in Vegas

I think it is about time that someone took off the blinders and said what is really the cause of the problems in our country today. Democrats and other Liberals are to blame for the backsliding which has taken place over the past 40 years. This is not some recent development that caught us all by surprise. Their liberal tendencies have fostered “Political Correctness”, legislated the mediocrity which pervades our school systems and academic institutions. Instead of fostering excellence, we have been continually lowering standards, coddling the lazy and unproductive members(?) of our society, and taking the approach that we should not embarass anyone or question their ability, lest we lower their self-esteem. We have little league and most other childrens’ sports where no one has to compete, everyone MUST be given a turn, no matter how lousy they are. Test are continually lowered to allow the poorer students to move ahead. Now exactly who is hurt by all this?
The liberal thought has so polluted our reasoning that Republicans were afraid to stand up for their convictions, whether out of fear of losing their elected position, or just being PERCEIVED to be against seemingly harmless ideas of “Fairness”, and equality. Why shouldn’t EVERYONE have a car and a house and health insurance and a great job? It is very simple - everyone is NOT equal in their ability, their thought processes, their ambition, their goals and their dreams. People who ordinarily would never in the world qualify for home ownership were given the “right” to a home by deluded legislators who were pressured by radical groups whose intentions were to bring down the country, and they are succeeding.
The disintegration of the family unit also contributes to the problem. We no longer have a system where families are comprised of two parents, where only one works, and the other stays home and raises the children. Madison avenue convinced us that we need more and more, and, to do that, both parents have to work, creating a new industry of child care and “absentee parenting”.
I am not pushing for a return to the good old days - that is a long forgotten dream which we will never again see. What is necessary is for everyone to take a good hard look at their politicians and remove EVERY INCUMBENT from office this election cycle. We may get more lousy politicians in the bargain, but at least we can watch them with a microscope, and vote them out again until we finally get decent people in office, recognizing that term limits are absolutely necessary now to prevent any recurrence of the rampant abuses on both sides of the aisle.

 
Comment by scott

kpsilverman doesn’t break down the lies…he continues the cover-up. The Obama camp doesn’t want to talk in detail about his radical left associations because the truth will cost him the election.

Obama is 100% lip service. He is a great speaker and will tell you what you want to hear. His policies will certainly send this country into a depression. Kinda like the Pied Piper leading his followers to certain doom. Hopefully Americans will see the true Obama, who he is and what he stands for and then pull the lever for McCain when it counts.

 
Comment by Dave M.

Also, try to remember that buying banks is socialism, and this was a republican idea. Also remember, that some of these ripoff senior managers, that taxpayers are bailing out, take their bonuses as Capital gains. This means that they will pay alot less than you or I.

 
Comment by Dave M.

You have got to be joking, McCain would keep giving the CEO’s the bonuses, and parachutes, that have driven these companies into the ground. Also, those of you who vote for McCain shouldn’t complain about your investments. Have some of you republicans been sleeping the last eight years??

 
Comment by bishop

I cannot understand why it is non mentined that people making 250k are already paying more taxes than the middle class. They alread pay their fair share of taxes. Obama will destroy the American Dream all together. Why bother to work hard to succeed if when you do you are rewarded with higher and higher taxes. The wealth that you worked so hard for is taken away and given to some one else. This is clearly socialism and is very unfair to those that have struggled to achieve success. I am a small business owner. If Obama gets in I will probably have to close my doors. I definitely will not be able to add to my work force, his tax increases with take care of that.

 
Comment by john williams

john Mccain is better to handle the economy—has much more experience—I wonder where Obama is going to get all the money to pay for all those giveaway programs he proposes–I say go for Mccain is a safer bet

 
Comment by Jean

Comment by QuakerDave
October 15th, 2008 at 6:18 pm
“the original bail out bill was 20 percent for ACORN…”

Lie.

ACORN was in the original bail out plan, to recieve money. They are an umbrella to several other groups….so I’d bet they are in the 2nd bail out….somewhere.

Also….I read a few weeks ago, that a carbon based tax was added. Don’t leave to much, or you might get a whopper of a tax bill for it.

 
Comment by Jean

Just a friendly message!

It won’t be Obama you should thank for your hand outs. Turn to each and every person you see doing a job, and thank them!

Those that work, and approve of the socialists plans……Venezuela is waiting for you! There’s room now. Most of their citizens that could, are living here now…but probably not for long.

 
Comment by kpsilverman

republicans are so desperate, they’ll believe everything.

i break down the lies at kpsilverman.wordpress.com. check it out.

i just hope we don’t end up bombing iran to create a distraction from the economy.

 
Comment by David

It’s easy to sum up what Obama is trying to do:

“Privatize all gains and Socialize all losses”

Like the people say, “Do your own research!”

 
Comment by Sniper 48

Your right Sue, The United States of America is the Greatest Nation on GOD’s green Earth, Because of men like Rummy, Donnie, Hannibal and others like myself who served GOD and Country.
We took and still hold dear the Oath we took to defend Our Sacred Constitution for enemies foreign and DOMESTIC! Our new Battle cry ” Defend AMERICA, defeat a liberal!

ALL AMERICAN Class of 69

 
Comment by Jim

All I can say about Obama - he’s a great orator - so was Hitler and look what happened to Germany! I’m praying for McCain to win this thing. Socialism is right around the corner and it came directly from his mouth about “sharing the wealth” to that plumber guy. What are people thinking and why can’t they see the facts - even teachers are falling for this rubish from Obama - WOW - can I ever trust a teacher to educate kids from this point on - looks bleak. Obama has no real right to talk about economic policies in my mind with this ACORN deal that was connected to the Fannie May and Freddie Mac mess up - then there is the Bill Ayers deal - if Obama hasn’t openly denounced this guy who is to say he won’t strike up a nice deal with Iran or Russia or Cuba or Venezuela???? Obama has shown in his record that he’s not afraid to deal with shady individuals to achieve his own political aspirations. We just don’t know what we are going to get from this guy. If Obama gets in office - this country is going to be down the toilet.

 
Comment by Big Dave

To Mom,

I think you’d better redo the math on that calculation. Two hundred million people would not receive $425,000 each, they would get $425 dollars a person.
You probably calculated too many zeros in that 85 billion.

 
Comment by Camille

The only thing Obama has changed is his public political views. He changed from voting from the far left to saying he is really closer to the middle. Its easy people. RESEARCH!!! Be an informed voter. Anyone can look up the voting records in Congress.
To those that like to blame the President….re-take civics. The Congress (which has been controlled by Peloisi and her fellow donkeys for the past 2 years) pass laws and raise taxes, not the President.

 
Comment by markb

To “Mom” above:

Try: 85,000,000,000 (85 Billion) divided by 200,000,000 (2 Hundred Million)

85,000,000,000 / 200,000,000 = 425

You are not going to send your child to college or pay off all your bills with $425.00.

 
Comment by DanN

WHO SAID WHAT….
(http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=print). ‘The current regulator does not have the tools, or the mandate, to adequately regulate these enterprises,” Republican Rep. Michael G. Oxley, chairman of the Financial Services Committee said at the hearing. ”We have seen in recent months that mismanagement and questionable accounting practices went largely unnoticed by the Office of Federal Housing Enterprise Oversight,” the independent agency that now regulates the companies. ”These irregularities, which have been going on for several years, should have been detected earlier by the regulator,” he added. After the hearing, Representative Oxley, and Republican Senator Richard Shelby, chairman of the Senate Banking Committee, announced their intention to draft legislation based on the administration’s proposal. Not everyone agreed unfortunately - ”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Democratic Rep. Barney Frank, who lead democrats on the House Financial Services Committee.

John Mccain, May 2006: I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole. I urge my colleagues to support swift action on this GSE reform legislation. (http://www.govtrack.us/congress/record.xpd?id=109-s20060525-16&bill=s109-190)

 
Comment by Larry D. Crumbley

Hello,
I have got to mention one thing right up front, and that is that Mr. Obama is letting everyone know that has a brain, and that is not in lock-step formation with his army that is starting to try, and get ready to screw this nation over to the tune of over a “TRILLION” DOLLARS, and everyone that has the ability to look on the internet at videos can see on youtube some of the things that has been done by these people. But just in case you need some help here is a GOOD web-site to go to, and see some viral videos that will confirm all the things that have been said about the dems. in congress, and the sen. When you finish looking at these videos you most likely will be as disgusted at them as I am, or you will not know what to do, and my suggestion to you get as MAD as HELL-(I AM SORRY I DO NOT LIKE TO SAY THESE KIND OF WORDS BECAUSE I AM A CHRISTIAN)-and then vote your convictions from your heart, and HOPEFULLY, AND PRAYERFULLY YOU WILL KNOW WHOM TO VOTE FOR, AND THEN THIS NATION WILL BE BETTER FOR IT. HERE IS THE WEB-SITE THAT HAS THOSE VIDEOS ON IT—-
SAVAGE-POLITICS.COM Please give a look at some of the videos and let me know what you think.
I know two things real well here, and that is (1)— GOD IS STILL IN “FULL” control of everything in
in this nation, and (2)—- A lot of what has happened is “OUR” own fault for taking Jesus Christ, and the
Lord God Almighty out of things to do with this great nation. He is a GOOD, and DECENT GOD, but how long does man in this world expect Him to continue to put up with what we do to Him on a daily bases.
Tell me what you think, and I will be happy to get any, and all e-mails from whomever God Bless for now, and I Pray that God will Bless America again.

Thanks and God Bless again,
Larry D. Crumbley
bearone7777@yahoo.com

 
Comment by QuakerDave

“the original bail out bill was 20 percent for ACORN…”

Lie.

 
Comment by QuakerDave

Charles Krauthammer got his degree in economics from where again?

Oh, yeah. I forgot. He’s a shrink by training.

Perhaps he could better deal with John McCain’s PTSD/anger issues. Or Gov. Palin’s delusions of grandeur.

THEN, his words might actually have some relevance. Maybe.

 
Comment by BamaGirl

Obama is only leading in the presidential race due to the economy. I remind people that it was
DEMOCRATS that pushed through all this Fannie Mae & Freddie Mac stuff. Also, all the pork that both Democrats & Republicans attach to legislation has helped our debt. If the democrats are so concerned about spreading & sharing the wealth, then why don’t they go after Franklin Raines & the millions that he took? In order to fix this problem, we need to quit spending money and try living within our means. That is something that my family does on a daily basis. We need someone as our president that is going to literally clean house and get rid of alot of the big government junk. Obama will only make government bigger and cause our taxes to go up. I think we as a nation need to look at what we want in the future. Is it socialism where more people are dependent on government or is it capitalism where if government will be less of a problem & smaller then we are able to provide for our families? America, the choice is clear.

 
Comment by Colleen, Colorado

I am also a small business owner. I employ 16 people. If Obama is elected president then surely we will have to close up shop. We are an incorporation (an S corp) and all of the “income” of the business gets attributed to us as personal income. However, we have substantial payments on heavy equipment that do not get to be deducted from “income”. Since Obama has stated that he will not renew Bush policy regarding depreciation-we will be screwed. Now there will 16 additional families added to the Obama “entitlement” payroll and the mortgages these families pay to go along with it. He is inexperienced but a beautiful orator. Come on people, the emporer doesn’t have any clothes on.

 
Comment by me

Reading these comments from both sides, I have come to the realization that we are a country of incredibly misinformed people. The drivel and platitudes and inaccurate information being spouted by both sides on these comment boards is frightening. Please people, before stating something, do some real research to see if it is accurate, and by that I mean somewhere other than a blog that just tells you what you want to hear! Spend less time in writing indignant messages online, and more time researching. The truth is out there, but you have to search! Please!

 
Comment by Constance

Even if Obama cannot tax and spend the way he wants because of the economy, which I believe will become a severe Depression with him in the White House, you can bet your life that he, Nancy & Harry will be passing bills fast and furiously to take away 2nd Amendment rights, remove any mention of God from anywhere visible by the public, establish the Fairness Doctrine to take away talk radio and line up judges who legislate from the bench from one side of the country to the other. They’ll invent ways to devastate our country financially at any possible indication of an upturn in our economy (which won’t happen), forcing as much universal health care on us as they can which will lead to hospitals going out of business and fewer people choosing fields in medicine. We’ll not have enough gas or oil for heating our homes or running our vehicles, and they’ll throw money at alternative sources which we won’t see in a practical way for years to come. I believe anarchy will become a way of life in our cities, food will become scarce and the elderly will fall by the wayside in favor of the young who tend to vote for Democrats. The military will be reduced, and when WHEN the next big terrorist attack happens, it will be the final blow from which our country won’t recover. Have a nice day.

 
Comment by john

People, Bush is not a true conservative. He is just a social conservative, other than that the only thing he supports is low taxes which contrary to the liberal media they benefited the poor more (lowering top rate from 39.6 to 35 is a lot smaller percentage wise than lowering 15 to 10). That doesn’t even count things such as deductions which help the bottom and the Earned Income Credit which is wealth redistribution.

Anyways, my point is that Bush is really a liberal in disguise. And now we are about to elect a marxist in disguise.

 
Comment by Tom Logie

The only legitimate purpose of the bailout was to prevent a chain reaction failure of financial institutions, which apparently was possible and has actually occurred in Iceland. That would have crushed everyone. I must observe that both borrowers and lenders have been irresponsible. Fannie and Freddie are near or at the top of the list on the lending side, and Barney “Frankenstein” and Obama participated in shielding them from scrutiny. Sen. McCain tried to get them under control — so did President Bush himself. Our next problem is going to be to avoid the inflation that all of this new money will generate once the fear abates. We could start a new stagflation cycle. Sen. Obama does not deserve to get the boost he is getting for the moment. Democrats as a whole are at least as responsible as Republicans. Where are Bill Proxmire and Harry Byrd (segregation aside) when we need them? Everett Dirksen could help too. It is sad to see how far we have slipped by comparing the present Senate with the Senate of the 1950s and 1960s. Spending money will hike the deficit, hike debt service, etc. Restoring the uptick rule and reforming “mark-to-market” to clearly exclude securities not for sale and to add a longer time lag to prevent panic would do more than more money. The spending will come home to roost. Sen. McCain has a better sense of this than Sen. Obama.

 
Comment by Lynn

I cannot believe how the majority of americans are ready to trade their freedom off for socialism because they have developed an “Entitlement Mentality” by Obama promising free health care, welfare checks, and free housing. I thought only kids could be bribed.

 
Comment by george

I don’t pretend to be a financial wizzard but one thing strikes me as interesting. It has been reported that our retirement accounts have lost 2trillion dollars over the last year. Now europe is throwing 2 trillion dollars into the “bailout”. Makes you wonder. I think they found a way to scam us out of our money.

 
Comment by Bruce

This is for all the paranoid, conspiracy theory, lovers out there. When you look at the major economic indicators that have been used in this country for generations to judge the state of the national economy, most of them still look good. So why is the economy in trouble? IS the economy really in trouble? Or have we been led by the nose to a point where a majority in the country now willing agrees to the nationalization of our banking system? Watch out Wall Street, because if Barak Obama is elected, you are on deck.

I know everybody loves the idea of a “bread and circuses government” The corrupt emporers who presided over the decline and fall of the Roman Empire maintained their power by providing free food and entertainment for the masses by distributing bread in the streets and creating the Circus Maximus. The Roman Empire crumbled around the ears of the population and nobody even noticed. Most historians will confirm that once the citizens of a democracy realize they can vote into power those who will give them gifts from the public treasury, the decline of that democracy has begun.

Welcome to the Socialists’ vision of the 21st century.

 
Comment by Chuck Doup

if there is no blood on the floor tonight john mc caine does not deserve to be president. his talking points should be nancy palosi, harry reid chris dodd and barney frank, barack obama, after the last two weeks how in the world can we expect the democrat to fix anything but thier wallets. give us all a break john at least go down swinging.

 
Comment by John

Let’s see. I’ve lived within my means and owe about $60,000 on my mortgage, so, if Obama is going to pay 10% of it for me, I guess that means I’ll get $6,000. On the other hand, someone who has purchased more house than they can aford (which is what got us into the mess to begin with) and owes, say $400,000, would get $40,000. Sounds “fair” to me, and Obama is always talking about fairness.

I shudder at the thought of Obama, Pelosi, Reid, et-al lining up in tandem with no system of “checks and balances” in place.

 
Comment by davidmoylephoto

I recently had a conversation with a few friends of mine. It boggles my mind when politicians can now say “it only adds a few billion dollars to our bill” as if a few BILLION dollars is the same as adding 3 dollars to a hundred dollar tab at dinner.

When did we become numb to the number of decimal points the word after the number correlates to?

 
Comment by Carlos

Nice article and I agree with it to some extent.. But to be fair and balanced one should also mention the 300 billion McCain wants to waste buying bad home loans at full cost :)

 
Comment by Josh Neumann

Obama=end of free America and the OFFICIAL beginning of communism.

 
Comment by Lyn

For you Obama supporters - if you think one dime is going to go to help the downtrodden, you are sadly mistaken. What always happens is just another group lines their pockets. The money will get passed around to their own cronies. And if it should by some miracle go for the “downtrodden”, how much money do you think they ought to get to get themselves out of their plight? What would be enough? The fact that everyone has the right to go to school and get an education is proof enough that you should be responsible for your own self and your children. Schools right now are feeding kids who can’t even get breakfast at home cause their parents are on drugs and not because they’re poor. Dallas right now has changed their education system to let students take a test several times if they don’t pass it. I don’t get why people think expecting less is helping anyone. Expect more and demand it. I think people can rise to the ocassion. I see it in the very well-off when they hand everything to their kids and expect nothing and I see it in many of the poor when they expect nothing of themselves.

 
Comment by Will - Denver, CO

I always thought that being successful was the whole idea
now it seems anyone who is has been labeled as part of the
problem. Gee, if no one was successful then who would you
work for ?

It is not a sin to own multipule homes or cars and
why this is being held against McCain amazes me.

You get out of life what you put into it and I have what I have
due to lots of hard work and good decision making, not because
any one gave it to me or from accepting hand outs. Helping
someone is one thing but giving it to them on a silver platter
with nothing expected in return is just dumb.

 
Comment by Will - Denver, CO

Wake Up People,
Obama thinks we are all rich. He wants to eliminate the 401K tax credit
that alone will increase my personal taxes by 20% and I am far from rich.
Just wait and see what that will do to the stock market. You will be better
off saving cash in little jars and burying them in the yard then investing in
a 401K and it won’t take long for people to realize that. Then all the cash
that was going into the stock market will dry up and our economy will perish.

Only those who want to see this country fail or are dumb enought to believe
Nobama’s lies are going to vote for him. Too bad the media has so badly
let us all down by not reporting the facts but only the hype.

Also, with his fines he plans to impose any possible savings on your taxes
will be offset by the penalties for not insuraning your children. Here’s a
good question for Obama. If my employer does not provide health care
for me and my family and I can’t affort to buy on my own then what in the
world makes you think I can affort to pay a fine (dollar amount still not disclosed) ?

The evil is in the details people and those details are what is going to make
every person who votes for him regret it.

If it sounds to good to be true, it usually is and with Obama that saying
has never been more true.

 
Comment by dave

The gifts keep on coming from this do nothing other than think of new ways to blow money congress. This bailout plan was sold on big warnings of financial disaster if not passed first by that Friday and nothing happened then by the weekend and nothing happened an dthen once passed the market tanked. These folks don’t know what they are doing and these Havard and Yale educated people seem to clueless to the point that they couldn’t even balance checkbook. Bush’s comments bring me no sense of security and he looks scared and clueless everytime he on the TV. They need to let this thing correct on its own, the government in my opinion will only make this thing worst as they do with everything. All us hard working saving folks out here have been screwed and the losers who are voting for Obama who have nothing to loss anyway are cheering this canidate on who plans to take more from us productive citizens and give it to the losers who don’t invest in themselves and always have their hand out. Fortunately I got out of the market before this downturn because I saw it coming, but others had blind faith that system wouldn’t fail them and they bet wrong. You think it bad now wait to the government get its sticky fingers into the mix your talking mayhem.

 
Comment by Don Henley

To the Democrats and Mr. Obama:
As a small business owner, if Mr. Obama is elected President, I will enact the following immediately after the election:
1. I will put all new hiring plans on hold.
2. I will carefully review all business planning to make sure my company will not net $250K; if this means that I must let some people go, so be it.
3. Since I will net less than $250K, I will now recieve a government tax reduction and
4. Rather than working 60 hrs plus per week, I will take some time off to celebrate with the democrats by singing “We’ll All be Drinking That Free Bubble-up and Eating That Rainbow Stew”.

Thinking small

 
Comment by Chris

If you work every day and pay taxes, please realize that if the Bush tax cuts are allowed to expire in 2010, you WILL pay more tax in order to “spread the wealth”. Your hard work will pay for homes for others, medical insurance for others, etc. I’ve always donated to charity but to be forced is something entirely different.

 
Comment by Michael

Actually Obama is bribing the american people with middle class tax cuts that will never exist. He has no grasp of the econmy or the world in general… Obama supporters will not be voting for obama but for binden instead as it has been hinted he will be in the oval office “helping” obama make decisions cause he knows he is incapable with his inexperience…and for all you Palin bashers…at least she is number 2 not number 1 on the ticket… she will have four good years to learn and not be the primary disicion maker.

 
Comment by Bobby

Hey Russell you and all the other idiots out there casting blame allover the place are right about Lehman Bros CEO, but he’s one of yours registered democrat!!!

 
Comment by Nannette McGowan

Obama told a plumber worried about making more than $250,000 that he would just be “spreading the wealth.” It came up in a Fox newscast a few minutes ago and a democrat said that this guy should decide how much of a salary he takes out of his business and if it’s less than $250,000, he won’t pay more taxes. This idiot of a democrat must have never been or never known anyone who is self-employed. If this guy’s business is not incorporated, all his money is considered income. If he is incorporated, he has to pay a corporate tax which is already higher than every other country in the world except Japan. Democrats don’t hesitate to lie to the public. They seem to want our country to become the United Socialist States of America!

Nannette McGowan
Destin, FL (where Obama’s ads tell us we’re in worse shape than most in the US, we’re all hurting)

 
Comment by Karen

Well - looking back when the Republicans were in control of the purse strings we complained about their overspending and now that seems like a mere pittance to what the Democrats are doing and will do in the future and especially if Obama wins the presidency and signs off on all of it. Now I wish the Republican big spenders were back in charge at least they didn’t raise taxes with their spending. The Democrats will do both in spades (no racial pun intended).

One of my favorite Bible verses is: Proverbs 3: 5 & 6 “Trust in the Lord with all thine heart and lean not unto thine own understanding. In all they ways acknowledge him and he will direct they paths.”

Thank God for THE GOD.

 
Comment by J.b.patrosi

Why hasn’t OBAMA come forth of his writings while at HAAAvard, the ones expressing the socialist tendencies. His papers have not been fully released. How can one concieve of his being president when he could not qualify for the president of a university. Granted MCCain is not as peachy as one would like, but he is a citizen of patriotism, fire tested, and proven with a great deal of experience. Common sense would tell one that were one to choose between them in times of trial, McCain would stand the course, however, Obama would run to his 250 advisers and they in turn would run.

 
Comment by lee

why is mccain not talking about obamas advisors (such asvalerie bartlett who was born in iran ,bob mcnalley who was removed for his talks with hamas or his two college roomates from pakistan who paid for a trip he took around the world or his friend rezko, who was born in syria amazing set of friends from the middle east who gave him the money to buy a house for 1.5 milliondollars this guy gets in you will have to leave the country

 
Comment by Andrew

Will somebody correct me if I am wrong. The USA was founded on Christianity and capitalism, right? When was the vote to change the constitution? I must had been at work when that happened and did not get the memo. When did the entitlement law get passed? That if you can not afford something, it’s OK we will take money from people who do work, save, and pay their bills properly and pay your bills with it. Talk about HOOD ROBIN. If you can not afford a house, thats fine, there are these neat things called apartments and renting, hopefully they might be used in the mean time until college is finished, student loans are paid off, promotions at work happen, marriage/ dual income……..do I really need to keep the list going?

All incumbents need to be voted out of office! They are all guilty of stealing from the tax payers and need to be prosecuted! Either way we are done! How many people put God first before $? Obama has associated himself/campaigns with some very despicable people, Ayers, Raines, Wright………..
and we can not even run a back ground check on his colleges years before he takes employment of the most powerful job on this planet.
Everyone, stop drinking the kool aide! If you were hiring Obama to work at your business, wouldn’t you run a back ground check on him? Even Steve Wonder could see through the hipe!
How did we end up with th two worst candidates? oh yeah, the media.

God bless

 
Comment by Matt

rummy, great post. Only problem is the republican party has abandoned those principles as effectively as the democrats.

To all you “regular joes” who believe Obama is going to save you: how long will it be before the democrats decide $250k is too high? How long before the bar is dropped to $200k? $100k? $50k? If you think this is a silly exercise, it was Obama himself who said (paraphrasing) that the line (between too much income and not too much) is difficult to draw, and then quoted values ranging from $100k to $250k. He started at the high end for his campaign platform, but it will drop.

It will drop for four reasons: (1) no amount of money will be “enough” to make things “fair”; (2) no system can succeed which rewards mediocrity and punishes excellence, but they’ll read any such failure as requiring more money; (3) many folks who _would_ make more than $250k will work out alternative ways of getting that additional income, to avoid the obscene tax rate (good for them); (4) the brain trust of this country will finally give up and leave for other countries that reward excellence, rather than punish it.

It’s too late. The republic is already dead. The only thing that will save us now is the 2nd revolution or a mass exodus to greener pastures.

 
Comment by Vince in Skippack, PA

Russel - You really need to stop drinking the Kool Aid and start to think of this rationally. Are you trying to blame the current financial mess soley on Bush/McCain and the republicans? You better start to do a little historical research about the proposals of Jimmy Carter along with Bill Clinton’s extension of the Community Reinvestment Act of 1977. This basically loosened the lending standards and allowed people who would have typically been denied a loan to have access to a loan. Pressure from the Governement was brought to bear on institutions like freddie and fannie to extend themselves to otherwise unsafe borrowers. In 2005 when a hearing was held regarding additional oversight of Freddie and Fannie, your beloved democrats lined up like pretty maids in a row to fight against additional regulations. And now they want to say it’s because of deregulation that the republicans traditionally favor that caused all of this. Pathetic! This is the problem with these comment sections, people’s uninformed opinions are given some sort of credibility and you know what they say about opinions; They are like the exit hole in our bodies, everybody has one and they all STINK! In should be mandated that if you post a message, you should have to actually back it up with some sort of facts not just your lame opinion. “Here endeth the lesson” Sean Connery in “The Untouchables”

 
Comment by Greg Higley

It doesn’t matter how much we spend to try and “rescue” the economy now. Without manufacturing jobs in this country we will be in the rescue mode until such time when we can no longer borrow money from other countries that have it. Giving another 25 Billion to the auto industries will only help them further expand their plants in Mexico. What other way is our government going to try to screw us? If Obama is elected I can only beleive our downhill slide will become more like a jump off a cliff!

 
Comment by Fear the Reaper

obama’s economic plan: Make campaign promises he has no intention of keeping if he becomes President. Next, tax the top 5% earners, but instead of giving it to the poor, it will go to the usual suspects, ayres, rezko, wright, frank, dodd, pelosi, reid, schumer, etc… He might throw a bone to the very poor as he has used them as his mantra in his campaign.

Right now, dems, he is and his friends listed above are having one great laugh at your expense. Hope you know the jokes on you.

obama = the greatest con in American History.

 
Comment by A Howe

Some of the comments here really amaze me. Wall Street did NOT create this problem. No one put a gun to the head of consumers to sign their mortgage contracts. So lets start with root cause. The public (aka main street) became convinced that they had discovered a unicorn asset that could only appreciate. For such an asset no amount of leverage is too great and creditworthiness is beside the point (don’t pay, we’ll take and liquidate the appreciated asset). This is root cause people. One degree of separation from this is the ACORN/Fannie/Freddie/Obama/Dodd tsunami which opened up the doors to people who had no business receiving credit. One additional degree of separation from this is Wall Street which helped create liquidity for this small fire by creating collateralized debt obligations.

But I have to laugh at those of you that think Wall Street / banking is being bailed out. Please do tell that to equity holders of AIG, Wachovia, Lehman, Bear, Fannie, Freddie, etc. When passed the $1 trillion steaming credit pile from Main Street, Wall Street ate as much as it could (some $300 billion). But ultimately the system cannot sustain this magnitude of problem and they had to hand it back to Main Street (read taxpayers). That is if any of you wanted to have credit for anything in the future (cars, homes, credit cards, student loans, etc.). The mortgage backed securities market became so illiquid that these assets (and others like commercial real estate loans) could not be valued nor used as collateral. Banks stopped lending to other banks (i.e. there is NO SYSTEM when this happens). It is unprecedented and very scary stuff.

BUT you Obama supporters need to pipe down because (a) your man is at ground zero of the problem and (b) many of you aren’t paying the bill (taxes) anyway. As for this being Bush’s fault please decide. If he is the simpleton you claim, then how did he get every country in the world to do his bidding (that’s pretty clever and dastardly)? And if he’s to blame, why did the absolute explosion in home prices begin in 1998 (2 years before he assumed office). Seriously people, you’re screaming ads for a voter testing requirement and it’s a shame your votes count the same as mine.

 
Comment by DK

Why do you “average joes” want the rich to pay all your bills? I certainly don’t.

 
Comment by Rob

Congratulations Russel,

You have been nicknamed RusselOMSNBC,

NOW GO BACK TO THE POST YOU ORIGINALLY BELONG AND TAKE YOUR LIBERAL PROPAGANDA ELSEWHERE!!!!

WE NOW HAVE:

CNNSteve
RusselOMSNBC

and if I can find that jerkhole of Paul, he will be known as CBSPaul

 
Comment by Obamatard

“McCain “palled around” with Keating on lavish vacations”

So that would be why a Democratic investigator found McCain completely innocent, and said it was a “disg