“Senator, what economy are you talking about?”


Here’s the deal; if John McCain’s sphincter didn’t undergo a collapse bordering upon super nova proportions upon the news of Lynch getting bought out by BofA, and Lehman Brothers declaring bankruptcy, it would only be because his understanding of the economy is so poor that he would fail to grasp what is going on.

To be honest, my personal understanding of the economy isn’t that hot as well; I know enough to understand that the collapse of Lynch and Lehman, especially so soon after Fannie and Freddie, is not reason to start celebrating the fundamentals of the economy.  For me, and for many Americans, the real impact of the economy isn’t what happens to big named firms and banks we don’t really know, but instead the fear of foreclosure, or the increase in unemployment.  It’s the fact that wages for the middle class aren’t doing so hot, and a load of other things that plague the economy.

But headlines on unemployment rates aren’t particularly sexy; they don’t get a whole lot of air time.  A big name bank that’s been around for a while going down in flames, well, that’s sexy, or at least sexy enough to bring the focus of Americans back to the economy, and that’s about where McCain should be worried.

If this election becomes one that is about the economy, the only thing that McCain has as a weapon is that he will give all Americans tax cuts.  But he better hope that Barack Obama says not word one about his tax plan, because for anyone making under 112K a year, you’re going to get a bigger tax cut under the Obama plan.  Further, you’re going to get a tax cut if you’re making under 230K a year.

And unlike McCain, Obama actually does understand the economy, including those magic forces of the free market.  The primary concept behind Obama’s economic plan is to allow the market to do what it does, but also to put in place the kind of restrictions and regulations that prevent the kind collapses from excess that we’ve seen over the course of the past few weeks.

In recent presidential elections, you’ve had Democrats that have been loath to debate National Security, and begging to shift the debate to the economy where they are strong.  With fifty days left in this election, we are seeing a situation wherein we have a Democrat who is unafraid of facing McCain head on when it comes to National Security, but the debate is being forcibly shifted to the economy.  Any way you slice it, I just don’t see how this could be at all good for McCain.

(h/t C&L for the vid)

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