With apologies to my Canadian visitors, I’m going on a political rant here. And despite previous attempts to be at least somewhat non-partisan, after this is written everyone is going to know where I stand. And I guess that’s OK. For those who disagree with me, feel free to state your case in the comments. As long as differences are stated respectfully, I’m open to hearing what everyone has to say. I have been known to change my mind.
Over the past several days, the economic situation in the United States has been playing out on the world stage. How the situation is handled has ramifications for the entire globe, so it is appropriate that there is so much focus from other countries. In fact, Germany has already declared the U.S. dominance in the world economy is at an end. China and Japan are especially interested because of the amount of U.S. debt they are holding. To say that the situation is critical, and an effective solution is needed would be a gross understatement. Decisions made in Washington are going to affect the lives of millions of people in this country and abroad for years to come.
The American people are sending millions of e-mails to their representatives in Washington SCREAMING their displeasure at the idea of bailing out Wall Street. And those e-mails are going to members of Congress on both sides of the aisle. Republican constituents are angry that their party is going against the basic tenets of Republican philosophy in even considering a plan that will not only add to the Federal deficit, but will increase the role that government plays in their daily lives. Democratic constituents are bristling at the idea that stockholders and corporate executives may end up fattening their wallets at their expense.
With all of this going on, I can’t help but wonder what John McCain is thinking? In what universe does he think it is a good idea, with a little over a month left until the election, to suspend his campaign? Better yet, why wouldn’t he want to take advantage of every opportunity to communicate his philosophy and his plans for the future of his country? He is asking for voters to support him in his quest to become the most powerful man in the world, but does not want to give them the information to make an informed decision. Instead we are to rely on sound bites taken from his preaching to the choir (Republican campaign rallies) where he recites platitudes and campaign slogans. Nothing of substance and nothing in the area of details.
Instead, Senator McCain places his campaign on hold, asks for Friday’s scheduled debate to be postponed, and catches a flight back to Washington. Oh, but not before he makes a quick stop in New York to make a statement to the Clinton Global Initiative. All to create the illusion that he is the champion of bipartisan cooperation and is only interest in putting the welfare of the United States first. The reality is that cooperation on both sides in Washington was already leading to a compromise solution that would address the economic crisis.
Senator McCain contributed greatly to the current situation with his support in 1999 of the Gramm-Leach-Bliley Act, which removed the separation between banking, insurance and brokerage activities. This allowed the risky investments which caused the collapse of several major financial institutions in recent days. What in the world can he contribute to a discussion of reinstating controls on financial institutions? Especially since, by his own admission, he’s not as informed on economics as he should be? Let those in Washington who are negotiating the solution complete their work, submit a proposal and then go back to Washington to cast his vote.
Another issue of contention for me is the tactic adopted by McCain’s campaign that denies press access to his running mate, Governor Sarah Palin, and recently, himself. What in the world are they afraid of? Given the developments of the past couple of weeks, I think they are afraid that if the American public is exposed to unscripted responses to tough questions they will find out how highly unqualified Governor Palin is to be put into the office of Vice President. Without going into a lot of detail, her responses in her interview with Katie Couric are less than Presidential. In fact, her responses sounded like those of a beauty contest candidate. Don’t take my word for it, go check out the transcript for yourself.
In the last eight years, the United States has lost millions of jobs overseas. Manufacturing plants have closed all over the country, contributing to the number of jobs lost. Anecdotally, I can personally testify that even though my salary has increased over those eight years, what I am able to buy with the money is much less. In the shadow of the Bush administration, gasoline prices are at record levels, and we are no closer to putting an end to our dependence on foreign oil than we have ever been. Yet, the richest individuals in the country have increased their net worth.
In addition, we have witnessed some of the most distressing acts of corporate mismanagement and ethical violations ever experienced in the history of the world. Companies have been bankrupted, sold out and run into the ground with the only ones suffering the consequences being employees and stockholders of those companies. And in many cases, those stockholders are the pension plans that my generation was depending on to finance their “Golden Years.” Meanwhile, CEOs and other corporate executives walk away with millions of dollars as a result of their compensation plans that provided a “Golden Parachute” for them leaving, regardless of the circumstances or job performance.
I don’t want to experience another eight years of similar circumstances. So, I’m taking Senator Barak Obama at his word: that he will work to change the way Washington works. Given the current crisis, it is going to be very difficult to implement some of his proposals, because the budget is already going to be bloated with the proposed bail out of the financial sector. But if Senator Obama is a man of his word, and at this point I have no reason to believe otherwise, he will work to balance the budget, improve the financial security of working Americans, and begin to hold Wall Street accountable for doing business in a way that damages our country. And most importantly, I believe that he will work diligently to put an end to the war in Iraq that is costing our country billions of dollars each month, yet taking the necessary steps to protect the security of the United States and our allies.
I realize that this post is rather heavy and lengthy compared to my normal missives. This is a topic that has weighed heavily on my mind the past several days and it helps to get ideas down on the page. One of the greatest aspects of blogging is that I end up feeling that at least I have been heard. I have no illusions that I always have things right, or that my views are more important than anyone else’s. So I want to thank those of you who take the time to read this for indulging me. And if you have alternative views, I’m ready to hear them. Maybe I’ll hear something that will make me feel better.
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