Sep 29 2008
Quote of the day
“Senator Obama and his allies in Congress infused unnecessary partisanship into the process. Now is not the time to fix the blame. It’s time to fix the problem.” — Sen. John McCain, R-Ariz., speaking in Des Moines, Iowa on September 29, 2008.
A bit of a senior moment perhaps? In one sentence he blames “Senator Obama and his allies in Congress” for the failure of the economic rescue package in Congress today and in the very next sentence states that “now is not the time to fix the blame.” Does he not review the stuff his minions write for him before he stands up and reads it?
We’ve had eight years of George W. Bush already. We not need another four!
P.S. The Dow Jones industrial average closed down 777.68 points today. It now stands at 10,365.45. On Bill Clinton’s last day in office it stood at 10,587.59. So… are you better off today than you were before eight years of Republican administration?
P.P.S. While Senator Obama and his team of advisers were leading (see previous post), Senator McCain and his team were sending out press releases…
Their partisan attacks were an effort to gain political advantage during a national economic crisis. By doing so, they put at risk the homes, livelihoods and savings of millions of American families. Barack Obama failed to lead, phoned it in, attacked John McCain, and refused to even say if he supported the final bill. Just before the vote, when the outcome was still in doubt, Speaker Pelosi gave a strongly worded partisan speech and poisoned the outcome. This bill failed because Barack Obama and the Democrats put politics ahead of country.
It kind of defeats the whole purpose of accusing someone else of partisan attacks if you do it in a partisan attack, don’t you think? Kind of?
Plus, them accusing Senator Obama of phoning it in is simply hilarious. Earlier today top McCain advisor Mark Salter said that McCain had decided to spend his time at home or at his campaign headquarters instead of visiting Capitol Hill during marathon negotiations over the bailout bill over the weekend because “he’s calling members on both sides, talking to people in the administration, helping out as he can. He can effectively do what he needs to do by phone.” In other words, Senator McCain phoned it in. (Besides, everybody knows that Senior Citizen McCain does not work weekends.)
Our Republicans… a laugh a minute.
7 Responses to “Quote of the day”
From things I have read and seen and without any bias, I am convinced that it is plain and simple greed that is causing all these financial turmoil in America.
Some say, most American workers are overpaid, I don’t know if there is any truth to that. Some say, that most, are too pre-occupied the verbs, buy, consume, accumulate.
And perhaps, worse they handle plastics as if there’s no tomorrow.
I could be wrong, though.
@lotusflower : The average hourly wage of the American worker now stands at around $18.00. That works out to be about $37,400 per year. That amount of money, though I realize it seems like like a lot to people in some third-world countries, simply does not have a lot of purchasing power in today’s American economy… especially when you are trying to support a family or send kids to college. Overpaid? No, not really.
We could definitely do a better job of recycling plastics. On that, I will agree.
Greed has definitely played a part in putting the United States into the crisis in which she finds herself today, but it was not greed on the part of “most American workers.”
Greed did not create the financial mess.
Social engineering created the financial mess. Home ownership is not a civil right. Unfortunately the Democrats and the bureaucrats at HUD and their buddies at community groups like ACORN and La Raza decided that banks which did not lend money to minorities were guilty of racism. The credit-worthiness of the borrowers had nothing to do with the banks’ inability to extend loans; oh no, only racism explained why so few minorities owned homes. So the banks created mortgage vehicles that would allow people with bad credit to buy a house. Those mortgages were structured around no down payments and low monthly payments consisting of interest only (or in some case less than than the minimum interest due resulting in negative amortization) and low teaser interest rates.
The banks created these loans for minority borrowers but soon marginal borrowers of all stripes took advantage of them. The housing boom was on and so long as the prices of houses kept going up everybody was able to float bigger and bigger loans. When it collapsed the banks were left holding the bag.
Add in the Enron era “mark to market” accounting rules and you’ve just created a liquidity crises of epic proportions.
But nobody wants to hear this. Nobody wants to admit that the Community Reinvestment Act was the trigger for the biggest economic bust in our nation’s history. Because then they’d have to admit that “social justice” is a crock of bs and the bailout is just more of the same socialism.
@Chris : It’s easy to slap a label of “racism” on it and then walk away, isn’t it? A rather simplistic view of the situation, I think.
The mortgage giveaway played a part, greed on the part of brokers looking for million dollar bonuses played a part, good old-fashioned back-room politics played a part, billion dollar golden parachutes played a part. There were a lot of factors (some that I don’t think have even come to light yet) that played a part in putting us where we are today. Blaming it all on racism and “social justice” is just too easy.
Nice try, though.
I don’t think the congressmen explained the real situation America is in to their consituents. That is why Americans were so against the bill. Notice how governments around the world are infusing money in their financial institutions to keep the economy afloat through liquidity. Now that the bill is dead, Americans should really brace for the big one. If the world market loses confidence on the US economy, expect America to be isolated. Regret always comes in the end.
Can you believe Obama is now being blamed for failure of the “economic rescue package”? What a mess! There is just no end to Republican nonsense with this election.
Davida
http://glue4families.today.com
At the same time he was making the speech his campaign, or maybe it was the RNC, blameing Obama for the financial crisis. He has provin to be one of the most deceitful candidates in history. It is amazing to me that conservative minions follow lock step and do not try to open themselves to other information and see him for what he really is.