On a day when the Federal Reserve puts up an $85 Billion loan to AIG, after Lehman Brothers fell yesterday and Bank of America ate up Merril Lynch, both Presidential candidates are releasing new commercials pushing their economic plans. The economy is not likely to get better anytime soon, and neither candidate is doing anything to create new jobs, other than talk about the problem.
In comparing the two candidates’ positions, Obama has a slight edge in terms of credibility: his economic plan was not created by the lobbyists and former Republican congress folk (like Phil Gramm) who got us into this mess in the first place. To hear McCain say that he is going to set up a Commission, like the 9/11 Commission that was virtually ignored by the current administration, is a confirmstion that he will talk big but do nothing. At least Obama has posted a fairly detailed economic plan that would change the government’s overall approach significantly.
The best thing the political discussion on the economy has done is that it has removed the ongoing fluff about Sarah Palin from the Main Stream Media. That, in a way, is a blessed relief. Since she is not going to be interviewed directly by the press and will continue in highly controlled and scripted appearances, it is better to have the media looking away from her. There is nothing there and so many important things – like the economy – need to be on the active agenda.
As we get closer to the Presidential debates, having real issues to discuss will elevate the campaigns (and Reuters/Zogby has just put out the latest poll that has once again pulled Obama ahead – it looks like folks don’t think the “fundamentals of the economy are strong.”)
Let’s watch closely where we go from here. There are 48 days left.
