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Markets Ignore Bailout





McCain gets nasty in New Mexico, which has conservatives in a swoon.

Obama hits McCain on the economy in North Carolina:


I think it is very important for Secretary Paulson and Federal Reserve Bank chairman Bernanke to move swiftly and try to restore confidence as quickly as possible to effectuate the plans based on the authority that has been given to them by Congress. I think it is still critical for us to move forward on an economic stimulus package that can provide people with some relief from high gas prices, food prices, help states and local governments maintain their payrolls. I think we have to extend unemployment insurance after the statistics showing that 159,000 additional jobs were lost just last month. And we are going to have to then move on an aggressive plan to deal with some of the underlying structural problems in the economy, including the continuing decline in the housing market.

… I was a little surprised over the last couple of days to hear Senator McCain say, or Senator McCain’s campaign say, that we want to turn the page on discussions about the economy and the campaign, a member of Senator McCain’s campaign saying today that, if we keep on talking about the economic crisis, we lose. I have got news for the McCain campaign, the American people are losing right now. They are losing their jobs, they are losing their healthcare, they are losing their homes, they are losing their savings, I cannot image anything more important to talk about than the economic crisis, and the notion that we would want to brush that aside and engage in the usual political shenanigans and smear tactics that have come characterize too many political campaigns, I think is not what the American people are looking for.

Obama is wrong about this bailout plan, though I understand everyone was pushing for something to get done. Still, the option picked is a disaster. Something Obama will have to deal with if he wins in November. It’s got the potential to haunt all of the Democrats who voted for it. So Obama-Biden need to come up with a new New Deal. They’d better start working on it, because they’re going to need it and so are we.

I now return you to the presidential mud slinging contest. Down and dirty, baby, which can only benefit Obama.

About Taylor Marsh

Veteran political analyst and author of "The Hillary Effect - Politics, Sexism and the Destiny of Loss," now available in print at Amazon.com, and 1 of 4 books chosen by Barnes and Noble to launch their "NOOK First" Featured Authors Selection program. Former Miss Missouri, Broadway dancer, & relationship consultant at LA Weekly, produced & wrote one woman show "Weeping for JFK."

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