Monday, September 15, 2008
McCain and the Economy
This is great.
This is not.
Let the Federal Reserve assure Americans that the economy is "fundamentally sound."
When McCain speaks about the economy, he sounds like an incumbent. He brings verve to his promises to "clean up Wall Street" and "reform government" - but who knows what he is talking about?
Don't sound complacent. Accept the seriousness of the mortgage crisis - it is serious - and then hammer your opponent as the man who will make things worse because of his extreme ideas, his tax-rising, and his party's way-too-close relationship with Fannie Mae and Freddie Mac.
To the extent that there are scandals in this crisis, they are not Wall Street scandals. They are Washington scandals - scandals in which there appear names of one Clinton-era appointee after another.
The press and the Democrats will want to present the crisis as a crisis of regulation v. deregulation. In fact, Fannie and Freddie represent exactly the kind of disastrous "public-private partnership" that Barack Obama has long advocated. - and if you think things are bad now, just wait till he gets to do for all of America what he did to Chicago.
Instead, John McCain is presenting himself as the man offering greater regulation. Not exactly a coherent message!
09/15 11:37 PM