Posted on 03/28/2008 6:47:44 AM PDT by DrBombbay
Friday, March 28, 2008
CAMPAIGN NEWS
Obama Pans Bill Clinton's Economic Legacy.
The economy was the main topic on the presidential campaign trail Thursday, with both Sens. Hillary Clinton and Barack Obama addressing the issue at separate events. ABC World News reported on "what is clearly the number one issue with voters: the economy. All three candidates are talking about it these days, with major speeches about what they would do as president." ABC added, "Today for the first time a major presidential candidate said flat-out what no other candidate has said." Obama said, "As most experts agree, our economy is in a recession." ABC added that Obama "blamed much of the current economic crisis, on a lack of regulations of financial institutions, which he said were simply eliminated under Presidents Bush and Clinton."
The Financial Times reports under the headline "Obama Blames Clinton Era for Crisis," Obama said "much of the blame for America's unfolding credit crisis on the financial deregulation of the 1990s in his hardest hitting attack so far on the economic legacy of Bill Clinton's administration." The FT says Obama's speech was "the fourth so far this week by a presidential candidate focusing on America's probable recession." In calling for "an overhaul of US financial regulation" and another $30 billion in stimulus funding, the "clear target of Mr Obama's speech was the economic record of the 1990s." However, he did not mention "the Clintons by name."
The Wall Street Journal reports Obama "proposed broadening government regulation of financial markets and expanding the power of the Federal Reserve to oversee investment banks in certain cases." The plan "marks a more aggressive stance" by Obama, "who has been less willing to embrace active federal intervention in the housing and credit markets than has Sen. Hillary Clinton." The Politico says Obama "blamed lobbyists, greedy businessmen and complacent Washington politicians for creating 'an ethic of greed' that led to today's foreclosure crisis."
Clinton Addresses Economy In North Carolina Clinton also spoke on the economy yesterday, but her speech is receiving far less media attention today. USA Today reports Clinton "proposed a five-year, $10 billion program to help displaced workers get job training." The Washington Post reports on Clinton's speech in a single paragraph deep in a story on Democrats attacking Sen. McCain's economic plans, saying she "set out an agenda for workers who are laid off from their jobs, proposing additional funding for training jobs and Pell Grants that can help for retraining for a new position. McCain and Obama have both proposed similar ideas."
Both Democrats Hit McCain The AP says both Clinton and Obama said Sen. John McCain "isn't ready or willing to handle an economic emergency." Clinton "focused on job insecurity and said the government needed to take more responsibility for helping displaced workers." Clinton said, "Our government is more focused on how you lost your job than how you can find a new one." The Los Angeles Times reports Clinton tied McCain to what she said was President Bush's "neglect" of the economy, "ridiculing McCain's comment that he didn't understand the economy as well as he should."
The Washington Post says the McCain campaign, "stung by the Democrats' rhetoric," responded Thursday. Former Hewlett-Packard CEO Carly Fiorina, "who was recently tapped by McCain to head the Republican National Committee's 2008 victory fund, accused the Democrats of 'mischaracterizing' McCain's remarks, calling their criticisms 'politics of the worst sort.'"
Clintons responsible for the tech bubble and the RE bubble? Ill buy it.
Ah yes the Clinton glory years......
When did Sarbanes Oxley take effect?
“Obama said, “As most experts agree, our economy is in a recession.” “
Will anyone hold him to this statement if, in the few months, the economy doesn’t show a recession?
that kind of talk about the sink emperor
would get you unrolled from a carpet in the park.
Won’t work. Most Democrats think of the Clinton years as a Golden Age, as far as the economy is concerned.
Here’s the Financial Times’ article: http://www.ft.com/cms/s/0/39108c3c-fc68-11dc-9229-000077b07658.html
Obamahammod will make a recession happen even if he has to admit he’s half-white.
Oh, no...She was fired by Hewlett-Packard for running the company into the ground.
And I happen to agree, the Clinton economy of the '90s, full of greedy, Enron-WorldCon fraud, rolling blackouts in California, and culminating in the bursting of the Dot-Com bubble, was NOT all that great for the country...
The economy is often compared to that of a large ship in that it is very very slow to turn. I have long believed that the economic “good times” experienced during the Clinton years were the result of 12 years of Reagonomics started by President Reagan and continued under President H. W. Bush. However; under the Clinton administration, that slow moving economic ship was turned towards a new course, the outcome of which was left to President George W. Bush to deal with.
President Bush’s administration did a great job in averting what could have been a complete disaster when the .com bubble burst and was able to keep the economy growing. However; while the administration seems to be averting the worst affects of the even larger crisis of the housing bubble bursting, is is unrealistic to expect it to be able to mitigate all of the damage. All in all the current administration has been able to do an admirable job given the herculean problems it inherited.
Unfortunately; just about the time that the tremors will be settling down and American economic ship will finally be back on the course to prosperity it looks like we will likely have another Democrat in the White House. Will the next president once again change the heading of the economic ship of State? We can only hope that the lesson has been learned and that the next administration will continue along the path the the last 3 Republican administrations have proven to be effective.
What Obama knows about economy he could put in his eye and not notice it.
Hillary said she wants us to save: Her plan...If you save $1000, the government will match it with $1000. If you save $100,000, the government will match it with $100,000.
And she thinks we're going to pay for this how??
And if I can't even get the non-interest bearing money I put into SS back, I'm going to get this "double your money" back in my pocket, HOW??
It sounds good though. They don’t care if it is feasible or not.
Same thing she promised upstate NY when when she was running for NY Senator. How well did that work out?
Carly left to stop a Board dispute. She was the classy one versus a few jerks on the board.
TRUTH from the mouth of a Democrat, regarding the Clinton’s...
Just how twisted is THAT?
I’ve said it before, and I’ll say it AGAIN:
STAY AWAY FROM SMALL PLANES, AND FT. MARCY PARK, SENATOR OBAMA!!!!
“Most Democrats think of the Clinton years as a Golden Age, as far as the economy is concerned.”
Seeing the Messiah challenge the legend in this way is going to force MANY libs/Dems to reevaluate what they REALLY believe...
IF it gets coverage...
From Wikipedia...
On January 7, 2004, at a meeting with Congressional members, Fiorina said, "There is no job that is America's God-given right anymore. We have to compete for jobs as a nation."[15][16][17] Her statements angered Bay Area workers who felt that low wages overseas encouraged corporations to use less-qualified offshore workers instead of well-qualified locals.[18]...
Departure
As HP's performance slowed, the Board of Directors became increasingly concerned. In early January 2005, the HP Board of Directors presented Fiorina with a four-page list of issues the board had with Fiorina's performance.[21] A week after the meeting, the plan was leaked to the Wall Street Journal.[22] The board proposed a plan to shift her authority to HP division heads, which Fiorina resisted.[23]
On 9 February 2005, Carly Fiorina was dismissed as chairman and chief executive officer of HP... She was replaced by Patricia C. Dunn as chairman and CFO Robert Wayman as CEO.[24] Hewlett-Packard's stock jumped 7% on news of her departure.[25]
...
Fiorina has been touted as a potential Vice President in a McCain administration. She endorsed Senator John McCain as the Republican nominee in the 2008 Presidential elections and campaigned with him.[37] At an economic round-table with the senator in January 2008, Fiorina praised Senator McCain, claiming that "John McCain is a man who understands what the role of government should be, and what the role of government should not be." [38]
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