Specifics on fixing the economy could win election for Obama
Straight-talker McCain was anything but straight during last Tuesday’s presidential debate when asked about his plans to fix the economy. Unlike McCain “That one,” also known as Obama laid out a specific plan to fixing the economy, which according to recent polls could win him the election.
“(My friends) It was Fannie Mae and Freddie Mac that started this economic crisis,” said McCain, pinpointing the largest economic crisis in the last decade on two financial firms.
McCain’s responses also included ramblings on bi-partisanship and democratic overspending stating Obama has the most liberal spending record in the Senate and the planetarium projector in Chicago was a million dollars waste of tax payer money.
But no where in his long ramblings on spending or talk about his political background did he lay out a detailed plan for improving the biggest issue in our country today. Even his ambitious new $300 billion dollar plan to buy up bad mortgages from home owners had no detail and was confusing rather than uplifting.
Obama not only personalized the problem but demonstrated his knowledge and on how the crisis began. He said the financial system is not regulated and his goal is to improve the financial process by including more government intervention on banks and lenders. He not gave us a detailed plan, he tailored his plan to needs of the struggling homeowner.
As a past employee of the Federal Reserve Bank of Chicago, I couldn’t agree more with Obama’s plan. I witnessed the start of foreclosures and the sub-prime mortgage crisis and noticed little was done by the central banking system and their core function of supervision and regulation. As a result, millions of people lost their homes and lenders who knew these people could not afford these loans were giving people loans anyway.
The issue is not about liberal spending history, pork barrel spending, or the planetarium projector as McCain mentioned, the issue is about better regulation of the banks, and turning this economic crisis around. Obama understands the economic crisis from the beginning and has a detailed plan on fixing it. If this is not a president in the making then I don’t know is.
3 years ago