John Mccain and the Shell Game - It’s All About the Economy

This election season, John McCain would like you to spend your time arguing about whether or not Barack Obama is an empty celebrity. He’d love it if you spent your time arguing about community organizers’ level of responsibility. The McCain campaign will do anything to distract you from the pressing issue of the 2008 election: the economy. If John McCain had to give himself a wedgie to keep the American people from noticing our faltering economy, he would reach behind his back with both hands. This fall the McCain campaign will bait you into big arguments over small things, and they will try to keep that shell game running until November 4th. His campaign has decided that no political stunt is too foolish; no lie is too big, if it can keep your eyes off the crumbling U. S. economy. Alas, the economy refuses to be ignored, and this week it made so much noise that no squealing pig with lipstick smears could drown it out. In the space of 48 hours, the global investment bank Lehman Brothers filed for bankruptcy; Bank of America took over Merrill Lynch; and the Federal Reserve Board took over AIG, the world’s largest insurer, in an $85 billion rescue plan. Oh yeah, did I mention the Dow Jones industrial average fell over 800 points? In one week, we have seen the biggest financial disaster in the 80 years following the market crash of 1929. Alan Greenspan called the crisis a “once-in-a-century type of event,” the worst “by far” in his career. In a statement almost as stunning as the magnitude of this financial crash, John McCain declared that the economy was just fine. At a rally in Jacksonville Florida, he claimed, “the fundamentals of our economy are strong. ” Needless to say, his timing for an economic gaffe was poor. However, this was no gaffe. John McCain has repeated the exact same line 22 times on the campaign trail since January. By no measure is the U. S. economy strong. Over 650,000 jobs have been lost so far this year, and the current unemployment rate stands at 6. 1% and growing. The federal budget deficit is over $357 billion, and our national debt is $9. 7 trillion. Both these factors have led to a weak dollar, which in turn contributes to rising consumer prices. There are over 10,000 home foreclosures every day in the United States, contributing to a loss of the leading source of wealth for the middle class, and to a steady reduction in the value of homes not at risk for foreclosure. Just today, the Federal Reserve said it expects the economy to grow far more slowly in 2008 than previously thought, and predicted further increases in unemployment. Gas is $4 a gallon, and John McCain says our economy is strong. Seniors lost roughly 5% of their retirement income in one day due to falling stock prices, and John McCain says the economy is strong. Students now routinely assume $100 thousand in debt to pay for a college education, and John McCain says the economy is strong. We are borrowing $10 billion a month to fight a war with no end in sight, and John McCain says the economy is strong. Is McCain talking about the same economy as the rest of us? So, we can expect big distractions from the McCain campaign in the coming days. Today the McCain campaign was pushing the “troopergate” scandal to the media to try to keep them from talking about the economy. They would rather have the news dominated by an ethical scandal involving their vice presidential candidate than discuss their lack of plans to fix the economic legacy of the Bush administration. I wouldn’t venture to guess what crazy story they will push tomorrow, but I bet it’s a doozy. This election season, do the smart thing. Don’t be distracted by large flaps over small issues. Don’t let McCain substitute phony controversies, or righteous indignation, for the facts. Pick up your money and walk away from the shell game. We don’t have time for small talk.