Here is the latest “attack” ad that Barack Obama is running against John McCain. I put the word “attack” in quotations because to any thinking and logical American, this ad actually reveals one of the strengths in McCain’s platform and one of the few things I agree with him on. Obama is taking this economic crisis as an opportunity to scare the poop out of seniors and turn them his way. First of all, the plan to privatize social security as I understand it would be an option offered to younger Americans, not seniors. Their benefits would not be cut in half – what a lie! And this plan would only let 2% of income be used in this new social security plan for Americans to invest as they wish. What a concept – you get to keep more of your money and grow it or lose it yourself. I mean, really, who would rather do that then trust the government that has already bankrupted social security and did a lovely job with oversight in the banking world. Bravo John McCain!
Older Americans are indeed in a state of fear right now. I was dipping on a conversation at the bank (hey, bank lines are boring, I couldn’t help myself) between an elderly couple and a bank representative. I couldn’t hear what they said, but I could hear the banker so I got the feel for what they were asking. First, they must have asked if a depository account was secure and the banker said the news was getting it all wrong and that all depository accounts, not just money markets, are insured up to $100,000. I hadn’t caught it before, but I guess the news is reporting that only money markets are insured, not regular savings accounts. Of course, that is if you believe the FDIC has the money to insure any accounts which I don’t. Then she told them that the bank, which only is found here in the East, is a strong bank and can be trusted. Ha Ha! I actually giggled out loud, so I’m sure the lady behind me thought I was crazy. Yeah sure, you can trust this little bank because after all Lehman Brothers was only around for 158 years and huge and part owner of the central bank. And then finally, they must have asked for cash for something because she said that with the amount they wanted she would have to issue a check because they didn’t have that much cash on hand. I rest my case!
Next we have Barack Obama’s answer that he gave yesterday, Sept. 19th, 2008 at his press conference. A female reporter asked, “Secretary Paulson says that it’s going to cost hundreds of billions of dollars to bail out [banks]. Senator Shelby says perhaps even a trillion dollars. Do you believe that this is an appropriate amount and secondly, if you were president would you set a limit, a cap per sa, on the kind of burden that taxpayers would have in bailing out these financial institutions?”
Obama’s answer (note: this is the best I could do with all the stops and starts), “Well, keep in mind that the uh…er, and, but, what um, uh, uh, uh, uh and um, I don’t wanna comment, uh, uh, uh, uh and uh, uh, uh and um…what uh, wake up on Monday and keep doing what they’ve been doing.” I kid you not, this was his answer. Can anyone tell what the answer was if you take out all the tape running he must have been doing in his head? No teleprompter and no coaching = Obama is a nightmare on economy. And that is without his big government programs.
And finally, let’s look at Obama’s emergency economic plan. First off, on page two of the documentation Obama tells how he has been a supporter of stimulus payments and pushed for the one we had earlier this year. Is that why he didn’t vote on it? This entire document goes on and on about how this stimulus package was Obama’s idea and that Congress enacted part of it. What a liar! So he proposes that he steal from the profits of the oil companies and give it to struggling families to the tune of $500 for singles and $1,000 for couples. And the second part of this indepth plan (there were only two parts) is to start a $25 billion State Growth Fund and a $25 billion Jobs and Growth Fund. As for what he would do right now, well as the Los Angeles Times Blog says, “Obama Votes Present on New Economic Rescue Plan For Now”. That is leadership!