Quote:
Originally Posted by MicroBrew
John McCain was full of shit because he said the fundamentals of the economy is strong only for him to do a 180 shortly after. McCain was saying the fundamentals was strong right now. Obama is saying that long term prospects is not indicative of present situation. Its a nuance but an important nuance none the same.
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After reading both of their statements here’s my interpretation.
McCain
Although the financial markets are in turmoil and times are tough, the
fundamentals of our economy are still strong (unemployment, inflation, manufacturing, consumer spending, etc). After this crisis is over…my policies on lower taxes and lower government spending will make things better.
Obama
In addition to the financial market turmoil, we have high gas prices, high food prices and inadequate unemployment insurance. After I get elected I will increase unemployment insurance, lower taxes for 95% of the American people (implying an increase on 5%), enact other government spending programs and then the
long-term fundamentals will be strong.
Analysis
IMO, McCain is right and Obama is wrong. Increased taxes and spending from any group and for any group will make matters worse. I understand about 50% of the voters agree with Obama, 42% agree with McCain and 8% don’t know WTF is going on.
