Obama Talks Economic Stimulus
But the biggest “aha” moment comes when he talks about the latest Wall Street bank bail out…
To fix the economy, Obama proposed relief for homeowners and an additional $30 billion stimulus package to address the nation’s economic woes.
“If we can extend a hand to banks on Wall Street, we can extend a hand to Americans who are struggling,” he said. […]
Bemoaning the nation’s economic woes, Obama dismissed Republican rival John McCain’s approach as pure hands-off. On Tuesday, McCain derided government intervention to save and reward banks or small borrowers who behave irresponsibly though he offered few immediate alternatives for fixing the country’s growing housing crisis. Obama said McCain’s plan “amounts to little more than watching this crisis happen.”
Obama is smart to call McCain out on this, because he does face a problem by making foreign policy the only reason people should vote for him. Especially after the Fed acted so quickly to make sure Bear Stearns didn’t go down the toilet, it’s now going to become a campaign issue that if the government can do that for the big guys they can do it for the little guys, and Obama seizing on this issue now is extremely shrewd.
Also, McCain’s response hardly resonates…
Even before Obama finished his speech, McCain said in a statement, “there is a tendency for liberals to seek big government programs that sock it to American taxpayers while failing to solve the very real problems we face.”
I guess I don’t really understand what he’s getting at with a statement like that. Because the problems I’ve seen is we have over 40 million without health care, mortgage foreclosures are at an all time high, home values are plummeting and the middle class is shrinking.
So what programs does McCain have that addresses ANY of these issues? And how will they not be “big government” programs?