What is happening to our economy? I am so fortunate to have another 40 years before I have to retire because my portfolio and my home value are plummeting. How can John McCain truly say that the fundamentals of our economy are strong when so many people are out of work, our banking system is crashing and people are losing their homes?
I know McCain restated it later as, "the American worker and their innovation...those are the fundamentals of America," so even though I believe that is just another poor attempt at backpeddling, fear gets in the way of innovation. Unemployment, low wages and questionable financial markets all create fear. Therefore, we are in deep trouble.
I know historically Democrats have been known to raise taxes. In fact that is all we have heard from the McCain/Palin ticket. They have said over and over that Barack Obama will raise taxes. Well, first I have to point out that in the eight years that Bush has been in the White House, my taxes have gone up. After reading Barack Obama's plan, it is clear my taxes will go down for a change by up to $1000 more then under McCain's plan. That sounds like something that will actually help the middle class during economic turmoil.
How did this economic turmoil happen anyway? Phil Gramm was instrumental in pushing legislation that allowed this investment and mortgage crises to spiral out of control. Who is Phil Gramm? Well, it turns out he has been McCain's right-hand man on economic policies throughout his campaign. He was the person that pointed out so eloquently that we were, " a nation of whiners" while at the same time claiming that our current economic crisis was "a mental recession." That sounds pretty out of touch too.
We need someone who will lead this country through this economic crisis; someome who is willing to crackdown on predatory lenders and punish corporations who send American jobs overseas. This also has to be someone that clearly recognizes there is a problem because if you can't see a problem, you won't find a solution. That is why we need Barack Obama and Joe Biden.
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