A clear choice

Now that the presidential race has begun, the choice between candidates becomes even clearer. Although most Americans think that Barack Obama will do a better job on the economy than John McCain, the more Obama talks, the more Americans will doubt he can. Take this from the Wall Street Journal’s Washington Wire;

 Obama economic advisor Austan Goolsbee outlined three key principles of the economic plan, which includes a $50 billion additional economic stimulus package, the creation of a $10 billion fund to ward off home foreclosures, and middle class tax cuts which include a $1,000 tax cut for families earning $150,000 or less.

“This slowdown is not a random, business-cycle event. It is very much the result of a failed philosophy,” Goolsbee said. He criticized President Bush, and alternately McCain, for a tax system that he argues favors the wealthy over “ordinary Americans.”

Advisors said Obama’s agenda would not increase the federal deficit and would be paid for by repealing tax cuts to the wealthiest of Americans, as well as funds that would become available when the war effort in Iraq is scaled down. McCain Senior Policy Advisor Doug Holtz-Eakin disputed that claim, countering that the agenda does not offer enough specifics to verify precisely how it will be paid for. “It’s an assertion without a foundation,” he said.

The Washington Times reports that the McCain campaign confidently predicts tax hikes in an Obama administration;

 On the difference between Mr. McCain – who opposed Mr. Bush’s tax cuts as too skewed toward the wealthy but now says their extension is the only way out of the economic mess – and Mr. Obama, Mr. Burr said more taxes are a foregone conclusion.

“It’s impossible for Senator McCain to run from a 20-plus-year career in the United States Senate, thousands of votes, but it’s very easy to focus on the 94 times in just three years Barack Obama has voted to raise taxes. I think there are certain things that America voters can predict, and raising taxes on the part of Senator Obama is a pretty certain thing,” the senator said.

I think we all know who Democrats consider “rich” when it comes to raising taxes. Bill Clinton promised a middleclass tax cut in 1992, but then raised our taxes in 1993. We can expect the same from Barack. Obama also promises to tax oil companies to the tune of $50 billion – who thinks the oil companies will pay that? Again, working Americans will get shafted with increased gas prices. Now Obama cn claims increased taxes will only be levied on families making over $150,000/year – but how easy is it to make it $75k after making excuses like Bill Clinton?

The Obama campaign claims that this isn’t a normal business cycle downturn that we’re in (at least they stopped labeling it a recession), but what is it when we’ve had growth in the GDP every month since March 2001? When unemployment fell and sustained it’s rate for the longest period ever?

The Democrats blamed the stalled economy in 2000 on candidate Bush’s “talking down the economy” – well, what are these clowns in the Democrat party doing these days?

So the choice for President becomes clearer –  do you want to pay more for goods and services with less money in your paycheck…and lose your 401k savings – or do you want sustained economic growth with more money in your pocket?

Category: Barack Obama/Joe Biden, Economy, John McCain/Sarah Palin, Politics