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If this is a global meltdown and we are connected with the world financial system then we may want the candidate most respected world wide. Read for yourself and archive if you want for future use.
Examining America's presidential candidates | Examining the candidates | The Economist
The detailed responses are bad news for Mr McCain (the full data are available here). Eighty per cent of respondents and no fewer than 71% of those who do not cleave to either main party say Mr Obama has a better grasp of economics. Even among Republicans Mr Obama has the edge: 46% versus 23% say Mr Obama has the better grasp of the subject. “I take McCain’s word on this one,” comments James Harrigan at the University of Virginia, a reference to Mr McCain’s infamous confession that he does not know as much about economics as he should. In fairness, Mr McCain’s lower grade may in part reflect greater candour about his weaknesses. Mr Obama’s more tightly managed image leaves fewer opportunities for such unvarnished introspection.
Where the candidates’ positions are more clearly articulated, Mr Obama scores better on nearly every issue: promoting fiscal discipline, energy policy, reducing the number of people without health insurance, controlling health-care costs, reforming financial regulation and boosting long-run economic growth. Twice as many economists think Mr McCain’s plan would be bad or very bad for long-run growth as Mr Obama’s. Given how much focus Mr McCain has put on his plan’s benefits for growth, this last is quite a repudiation.
If this is a global meltdown and we are connected with the world financial system then we may want the candidate most respected world wide. Read for yourself and archive if you want for future use.
"Nearly all of the legislation passed to lower taxes had titles similar to Economic Recovery Tax Act. In the chart below though, you can see that all of that tax lowering has had no consistent effect on the Gross Domestic Product. The one period, circa 1982, that it does seem to show an effect must be put in the context of hyperinflation. The median tax rate spiked because salaries were indexed to inflation, growing, and taxes were not indexed, adjustments were made. Higher median taxes can't be meaningfully interpreted as a cause for the GDP downturn separate from oil shocks and hyperinflation.
He framed his presentation by saying that there were three problems with the Bush tax program:
It was fiscally irresponsible, creating a huge sea of red ink.
It was sold using budget gimmickry.
It was massively tilted toward the rich.
On all three points, he showed that the McCain program is worse. In his words, it would create deficits that are twice as big and is twice as regressive.
One of his strongest points was when he said (paraphrasing), if we take McCain at his word and accept that he's going to implement all the tax cuts he's calling for AND his promise to balance the budget by 2013, the only possible conclusion is that he will have to cut Social Security and Medicare by 60%, all but dismantling the programs.
Yes! Especially the part where that article analyzes the responses of only 142 economists, but then states...
the McCain campaign should be buoyed by the fact that 530 economists have signed a statement endorsing his plans.
In theory, economists support McCain - Politico.com Print View
n interviews with more than a dozen of the signatories, Politico found that, far from embracing McCain’s economic plan, many were unfamiliar with — or downright opposed to — key details. While most of those contacted by Politico had warm feelings about McCain, many did not want to associate themselves too closely with his campaign and its policy prescriptions.
Howard Beales, an economist at George Washington University, explained that he signed the letter as "an expression of support for [McCain], not necessarily each and every detail of his plan, which I may not have had time to study closely."
Economists 'Endorsed' McCain's Economics Plan? Actually, No
What's more, the statement signed by the economists didn't even mention two critical planks McCain's economic argument: "the gas tax holiday and his promise to balance the budget by the end of his first term -- there's literally nothing in the release that mentions the deficit or national debt."
Indeed, the Huffington Post surveyed economists from across the political spectrum and couldn't find a single one who supports two of McCain's signature economic/energy positions: increased off-shore drilling and a gas tax holiday.
"Mr Obama wins top marks for raw talent. He can also claim sound judgment"
There must be two Obama's, the one running for president is none of what you describe. he and his party are what put the economy where it is today...
A vote for Nobama is a vote for terrorism..
Yes! Especially the part where that article analyzes the responses of only 142 economists, but then states...
the McCain campaign should be buoyed by the fact that 530 economists have signed a statement endorsing his plans.
buoyed are you truly familiar with the meaning of the word. It means to have your spirits uplifted as in a consolation prize for coming in second in a race of two.
My economist can beat up your economist. Peter Schiff doesn't care about either of their plans. No one wants to attack the basis of the economic woes.
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