Economy economy economy economy

iVillage Member
Registered: 08-20-2008
Economy economy economy economy
139
Tue, 10-28-2008 - 10:54pm

economy economy economy economy. That's what this election is about.

This election is a referendum on Bush and the economy. It's about Bush, with the full backing of McCain on his tax cut, big spending budgets, expensive war in Iraq and economic policy.

So if you think things are great and that after 8 years we've got a strong economy to show for Bush and McCain's economic policy, go ahead and vote for McCain and the Republicans.

If you are like the rest of us you know what happened. Bush, McCain and the Republicans deregulated us into the worst economic mess since the Great Depression. It was a giant, free-for-all spending spree for the super rich while everyone else, including the Republican "regulators", watched. Now everyone else is paying the price for the greed and incompetence that the Republicans fostered.

So go ahead and vote Republican and reward them if you are happy with their job. Or go ahead and make lots of excuses for them if you like. Complain about all the things that happened to them rather than holding them accountable for steering our ship. You know these Republicans are out there in the life boats watching everyone else in the boat go down.

Or vote for Obama and the Democrats if you want to bring back balance, competence and fairness to our government and our society.

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iVillage Member
Registered: 09-08-2008
Wed, 10-29-2008 - 12:52am
Great post. The balance really got my attention. The GOPers dropped the ball, and as you said deregulated us into this economic mess - McCain's weakest topic. So,

iVillage Member
Registered: 08-20-2008
Wed, 10-29-2008 - 7:58am
Thanks. When people walk into the polls next Tuesday, I think their view of the economy is going to guide them. I think they will be disgusted with the performance of the Republicans. I think people will sweep the Republicans out of the White House and make them a much smaller minority in Congress. The Republicans had their shot. The Republicans messed up, are still in denial coverup mode, and have no plan for the future.
iVillage Member
Registered: 08-27-2005
Wed, 10-29-2008 - 8:48am

The funny thing is that people seem to forget that the economy grew under bush. 20% to be exactly. Also the fact that we are in this mess is not deregulation it was too much regulation. Can I please ask you to go and look at CRA...


Another point is that allot of Liberals seem to have this hate for rich people. Why is that? Why not just try to work just as hard, and aspire to be as successfully as them. Why want to get them to share their success?


Please Know that those rich republicans provide the jobs, and they invest in our economy. They will be rich no matter who gets elected, but they will stop investing on the economy if Obama will increases their taxes, and then the employment rate will really start to increase.


iVillage Member
Registered: 09-21-2004
Wed, 10-29-2008 - 9:50am
I don't think it is accurate or fair to blame one party for all the economic woes of the country. Think back to Clinton and signing NAFTA.....many would argue that the US lost jobs from that action and it hurt our economy.
iVillage Member
Registered: 03-30-2007
Wed, 10-29-2008 - 10:24am

The only things I've heard out of McCain is:

iVillage Member
Registered: 08-20-2008
Wed, 10-29-2008 - 10:42pm

"The funny thing is that people seem to forget that the economy grew under bush. 20% to be exactly. Also the fact that we are in this mess is not deregulation it was too much regulation."

I like your arguments. They are so divorced from reality that they will help Obama get elected. Less regulation really would have stopped the sub-prime crisis, that's the ticket! That's why even all the Republicans on this board somehow blame the Democrats for stopping Republican regulatory reform and regulations that could have prevented the sub-prime crisis. Uh huh. The Republicans are all over the map. Cya. Blame. Denial.

It's time for a change. You say the Bush Administration and the Republicans have been a success. The rest of America says we can't afford four more years of this kind of success.

iVillage Member
Registered: 08-20-2008
Wed, 10-29-2008 - 10:45pm

"I don't think it is accurate or fair to blame one party for all the economic woes of the country."

It's never all one sides' fault. But then again sometimes one side is a lot worse than the other. We elected Republicans to lead. That's what they didn't do.

And there is precedent for this. This is the worst economic crisis since what? The Great Depression. Guess who was in charge with their deregulatory attitude for many terms before the Great Depression. Hint: it wasn't the Democrats. Nope. The Democrats are the ones who saved America. Thank God for FDR. Thank God for FDR and the Democrats.

That's what we need again. We need the Dems to help us out of this. We need the Dems to help real Americans with real problems, instead of targeting aid to the super-rich in the form of lower taxes that we all pay for in the increased deficit.

iVillage Member
Registered: 07-03-2008
Wed, 10-29-2008 - 10:51pm
OH pulease, my Dh said in 2000, if Bush Jr wins he will take us into another WAR. My Dh was right.
iVillage Member
Registered: 07-25-2006
Wed, 10-29-2008 - 10:55pm

Since you have posted several times about the deregulation Republicans gave us under Bush/ Cheney


iVillage Member
Registered: 08-20-2008
Wed, 10-29-2008 - 11:16pm

"wild accusations"

Oh my. Don't talk to me if you don't want to believe John McCain is a long-time deregulator who supported Bush's deregulatory policies that got us into this ditch. Talk to John McCain. Go write him a letter after you read what he said below. The first link is from the Republicans for Obama web site.

"McCain's Deregulation History
Wed, 09/17/2008
Last night Fox News’s Hannity and Colmes, former governor Mike Huckabee emphasized McCain’s past as a dergulator who would allow the market to “correct itself”:

Huckabee: Regulation isn’t the answer to this. In fact, if we go back and overregulate and tinker with it, we’re going to do more damage than we are in terms of a fix. … John McCain has a long history of being against an overreaching government, regulatory environment. It’s a dangerous place for us to go, and what we need to do is recognize the marketplace will correct itself. It’s painful, but it will correct itself. - Watch it

Huckabee is right that McCain “has a long history of being against… regulatory environment.” He has consistently opposed the kind of robust regulation and oversight that could have helped prevent the current crisis.

“I am a deregulator. I believe in deregulation.” "

http://www.republicansforobama.org/?q=node/2343

Here is a good clip to watch of this quote:

"Q: In 1999, you were one of the senators who helped pass deregulation of Wall Street. Do you regret that now?

McCAIN: No. I think the deregulation was probably helpful to the growth of our economy."

http://thinkprogress.org/2008/09/21/mccain-deregulation/

Here is a very good summary of John McCain's long history of deregulation:

"John McCain: The Deregulator Filed Under: deregulation
By Ari on Sep 17th, 2008 at 10:39 am
John McCain: The Deregulator
I don’t think anyone who wants to increase the burden of government regulation and higher taxes has any real understanding of economics and the economy and what is needed in order to ensure the future of this country.”
– John McCain

McCain Is An Avid Supporter Of Lax Rules For Financial Institutions

McCain Supported A Banking Bill Because It Eliminated “The Tremendous Regulatory Burden Imposed On Financial Institutions.” While speaking in favor of bank deregulation on the floor of the senate, John McCain said, “This legislation takes a small but important step toward eliminating the tremendous regulatory burden imposed on financial institutions… One principal reason banks are unable to make loans is the bewildering array of statutory and regulatory restrictions and paperwork requirements imposed by Congress and the regulatory agencies. While a case can certainly be made that every law and regulation is intended to serve a laudable purpose, the aggregate effect of the rapidly increasing regulatory burden imposed on banks is to cause them to devote substantial time, energy and money to compliance rather than meeting the credit needs of the community.”

McCain Supported A Bill To “Takes A Small Step Forward Toward Eliminating Unnecessary Regulatory Burdens Imposed On Banks.” While speaking in favor of bank deregulation on the floor of the senate, John McCain said, “While a case can certainly be made that every law and regulation is intended to serve a laudable purpose, the aggregate effect of the rapidly increasing regulatory burden imposed on banks is to cause them to devote substantial time, energy and money to compliance rather than meeting the credit needs of the community … This bill recognizes this fact, and takes a small step forward toward eliminating unnecessary regulatory burdens imposed on banks.”

McCain Said The Best Thing Government Can Do For Business Is “Stay Out Of Its Way.” While speaking about the American Competitiveness in the Twenty-First Century Act on the floor on the Senate in 2000, John McCain said, “I am convinced that the best thing government can often do to advance the fortunes of the private sector is to stay out of its way. I support this bill because it makes progress toward that end, by improving companies’ flexibility to hire the talent they need, while providing for the regulatory framework and new educational opportunities to protect and promote American workers.”

In 1999, McCain Supported Phil Gramm’s Banking Deregulation Bill. In 1999, John McCain voted for passage of the Senate version of a bill that would eliminate current barriers erected by the 1933 Glass-Steagall Act and other laws that impede affiliations between banking, securities, insurance and other firms. The bill also would exempt small, non-urban banks from the 1977 Community Reinvestment Act (CRA), revise the Federal Home Loan Bank system and require that owners of automated teller machines (ATMs) provide notice on the ATM and on-screen of any charges imposed for the use of the terminal. The bill passed 54-44.

McCain Missed The Vote For Final Passage Because He Was Campaigning In New Hampshire. John McCain missed the final vote on Phil Gramm’s banking deregulation bill because he was campaigning in New Hampshire.

McCain Has Based His 2008 Campaign On Promoting Less Regulation

McCain: “I Don’t Think Anyone Who Wants To Increase The Burden Of Government Regulation And Higher Taxes Has Any Real Understanding Of Economics.” During a McCain Town Hall in Inez, Kentucky, John McCain said, “When we come out of this recession and we will because I believe that the fundamentals of our economy are good … Sen. Clinton wants the government to make the decisions for you on your health care, I want the families to make the decisions on their health care. I don’t think anyone who wants to increase the burden of government regulation and higher taxes has any real understanding of economics and the economy and what is needed in order to ensure the future of this country.”

McCain: “I Understand Why The AFL-CIO And Maybe Other Unions May Oppose My Free Market, Less Regulation, Right To Work.” During an appearance on Fox’s “Special Report with Brit Hume,” John McCain said, “I understand why the AFL-CIO and maybe other unions may oppose my free market less regulation right to work. I think we have honest differences of opinion. I respect those labor unions, but I’m sure that those differences are very intense and very real.”

McCain: “Let’s Reduce Regulation.” While speaking about the economy in St. Louis, Missouri, John McCain said, “I’m asked all the time are we in a recession or not in a recession. And I don’t know the answer to that because it’s kind of a technical term… I do not believe we should raise your taxes. I think it would be the worst thing we could do. And that means to me I think the tax cuts need to be made permanent. When you’ve got a bad economy, the worst thing you can do is increase people’s tax burden. Let’s reduce it. Let’s reduce regulation.”

McCain: “We Need To Return To The Reagan Years… We Need Less Regulation.” As shown on PBS’s “Washington Week,” John McCain said, “We need to return to the Reagan years. We need to have fiscal conservatism. We need less government. We need less regulation. We need to end of spending spree which has eroded our base of Republican support.”

McCain Promised To “Give Them Lower Taxes, Less Regulation, Less Government In Their Lives.” As shown on CNN’s “CNN Newsroom,” John McCain said, “We’ve got to do the other things necessary to encourage business and give them lower taxes, less regulation, less government in their lives, and that means a simpler, fairer — tax code. The tax code in America is broken and it needs to be fixed.”

To Fix the Economy, McCain Would “We’ve Got To Take Specific Actions, Keep Their Taxes Low, Less Regulation.” As shown on ABC’s “Good Morning America,” John McCain said, “That our economy is in terrible shape, that we’ve got to take specific actions, keep their taxes low, less regulation, get - start exploring and exploiting offshore oil deposits.”

McCain Said The Difference Between Obama & Himself Would Be “More Regulation Or Less Regulation.” During a media availability in Phoenix, Arizona, John McCain said, “I think the important thing is that there will be stark differences between either Senator or Senator Obama and me because they are liberal Democrats and I’m a conservative Republican… whether we pursue the present strategy in Iraq or whether we — or whether we set a date for withdrawal, which will mean Al Qaida wins; whether we have more regulation or less regulation.”

McCain: “Less Government, Lower Taxes, Less Regulation, Safer America Is What I Can Give America.” During an appearance on CBS’s “60 Minutes,” John McCain said, “I can make a case that a less government, lower taxes, less regulation, safer America is what I can give America. But I don’t underestimate the size of the challenge.”

McCain Is Long-Time Supporter Of Deregulation

McCain: “I Am A Deregulator. I Believe In Deregulation.” While speaking about the cable and satellite television during an appearance on CNN’s “On the Money,” John McCain said, “I am a deregulator. I believe in deregulation.”

McCain: “The Basic Core Principles Of The Republican Party… Less Government Is Best Government, Less Regulation.” When asked how the Republican Party can recover after the losses in the 2006 election, John McCain said, “By returning to the basic core principles of the Republican Party, very careful stewardship of tax dollars, less government is best government, less regulation, lower taxes, strong national defense, community and family values.”

McCain: ���I Have A Long Voting Record In Support Of Deregulation.” The St. Petersburg Times quoted McCain at a Senate Commerce Committee hearing as having said, “I have a long voting record in support of deregulation.”

McCain: “I Continue To Believe In A Strong National Defense, Free Trade, Deregulation.” During an appearance on CNN’s “Wolf Blitzer Reports,” John McCain said, “I continue to believe in a strong national defense, free trade, deregulation. I’m pro-life. There are many, many issues that I feel would make it very difficult for Democrats to embrace me.”

McCain: “Keep The Regulation Of The Government As Much As Possible Out Of People’s Lives.” During an appearance on PBS’s “NewsHour with Jim Lehrer,” John McCain said, “If you inspect my 17-year voting record, it’s a proud conservative Republican who acts on principles and one who obviously has a very strong commitment to the leadership role the United States has to play… I think that’s probably one of our first efforts - keep the regulation of the government as much as possible out of people’s lives.”

McCain: “I Believe In Smaller Government… Less Regulation.” During an interview on PBS’s “NewsHour with Jim Lehrer,” John McCain said, “, I would argue that I have 17 years of legislative experience with a clear voting record of a strong conservative. I believe in smaller government, stronger defense, lower taxes, less regulation, encouragement of entrepreneurship, encouragement of legal immigration. I think that my fundamental philosophies and beliefs are very clear, and I’ve articulated them for years and years. And most importantly, I voted on them.”

McCain: “I’ve Been A Good Party Member. I Agree On Most Issues, Fundamentals Of Lower Taxes, Less Regulation.” During an appearance on CNN’s “Crossfire,” John McCain said, “I’ve been a good party member. I agree on most issues, fundamentals of lower taxes, less regulation, smaller government, coherent foreign policy, strong national defense.”

McCain Supports Deregulation Whenever Possible. The Journal of Commerce reported, “A McCain aide notes in the past he has supported deregulation of other industries. ‘Any time you can responsibly deregulate, Sen. McCain wants to deregulate,’ the aide said.” "

http://progressiveaccountability.org/2008/09/17/john-mccain-the-deregulator/#more-102

Here's another pretty good summary by a random blogger- you don't have to look far for examples:

"McCain: Deregulation Hawk
One could argue, quite accurately, that John McCain is responsible for the Nation's economic crisis. McCain has worked his entire career to deregulate the financial industry - with disastrous results.
In the 1980's McCain was a key figure in deregulating the savings and loan industry. McCain parlayed it into highly profitable graft for himself. That led to wholesale theft and the collaspe of many S&Ls. McCain got caught in the the ensuing scandal but successfully used his POW line to wiggle free.
McCain's economic guru, Phil Gramm, slipped the "Enron Loophole" into legislation in the year 2000. This deregulatory loophole was used by that infamous company to game the electricity markets so egregiously that it led to Enron's own collapse. Since then, McCain has blocked every effort to close the loophole which is now being used by energy traders to game gasoline prices.
The current banking crisis traces back to the repeal of the Glass-Steagall Act in 1999. Again Phil Gramm get direct blame for deregulating banks. Again, John McCain followed Gramm like an servile puppy in the effort. The effect is an economic crisis the world has not seen in 75 years.
McCain has said he will make Phil Gramm Treasury Secretary.
McCain's son, Andrew, ran an Arizona bank into bankruptcy earlier this year under curious, at least, circumstances.
Not content with the nation's economy, McCain is campaigning on a platform of deregulating health care."

http://alittlereality.blogspot.com/2008/09/mccain-deregulation-hawk.html

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