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Click here to visit the new home of Politics Daily!Stepping away from the debate for a moment, today we learned that employment in America declined for the ninth straight month. We lost 159,000 jobs in September, the biggest number in 5 years. And news has also come in today that California Governor Arnold Schwarzenegger has just written to Treasury Secretary Henry Paulson to say that his state may need an emergency loan of $7 billion from the federal government. Why? The credit noose. They can't get the usual short term loans to cover their expenses. With McCain's numbers tanking, and the campaign pulling out its troops from Michigan, it ...
The conventional wisdom is that John McCain's campaign is in serious trouble. Long a champion of deregulation, McCain has had to radically shift course to keep up with the economic events of the day. For a man who admitted the economy was not his forte, and who, as recently as two weeks ago, said that the "fundamentals of our economy are strong," the shift away from international affairs has proven disastrous. But there is still hope. Yes, to hear some people tell it, the fate of McCain's final run at the presidency now rests in the hands of Sarah Palin. Here's First Read:The McCain campaign ...
Update: The Associated Press agrees with my assessment, saying that, without a bailout agreement, McCain's campaign has reached "a political dead end.The McCain campaign has been reduced to trying to blame the side that overwhelmingly favored the bill, whose failure precipitated the biiggest one-day point loss in the Dow's history, while defending the crybabies who voted it down because Nancy Pelosi hurt their feewings. Richer still is their insistence that this is no time for the "blame game." The fact that the ostensibly uber-neutral AP is reporting thiscould be devastating for McCain. It ...
Campaigning today in Westminster, Colorado, Sen. Barack Obama effectively abandoned his criticism of rival Sen. John McCain over the fundamentals of the economy. Obama had been hitting McCain hard for his statement from two weeks ago that the "fundamentals of our economy are strong." But today, in remarks about the current financial crisis, Obama agreed with McCain, saying, "After this immediate problem, we've got the long-term fundamentals to really make sure this economy grows."Besides canceling out his campaign message, the remarks were ill-timed, coming as they did on a day when the House ...
As the McCain campaign says, "ICYMI" (In case you missed it) John McCain, in the midst of an economic meltdown, said that the "fundamentals of our economy are strong." He then, idiotically, tried to explain that when he said "fundamentals," he was referring to good old Johnny Sixpack, out there working every day to earn folks like Carly Fiorina their $21 million severance packages.Well, McCain did a little glad-handing with those fundamentals yesterday, and the hardworking folks at a GM plant in Michigan let McCain know just how they thought America could strengthen the other, non-fundamental ...
Sen. John McCain drew sharp criticism from Sen. Barack Obama yesterday for declaring that the "fundamentals" of the U.S economy are "strong." Obama cited the remark as evidence that McCain does not understand the nature of the economic situation in the country after a weekend that saw another Wall Street investment bank collapse. "How can John McCain fix our economy if he doesn't understand it's broken," Obama said.But many economists agree with McCain that underlying economic conditions are sound, despite the turmoil in the investments sector. David Wyss, chief economist for Standard and ...
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