Due to our economic problems John McCain announced today that he will be suspending his campaign tomorrow morning. Senator McCain will go to Washington tomorrow to meet with leaders of both parties.
Not to be out done, Obama came out afterward saying he first went to McCain to do something about he economy but McCain went behind his back and announced he was suspending the campaign. Obama went on to say that the next President will take office in 40 days and needs to debate these issues in front of the American public. (Note to Barack Obama: the election is November 4, 2008. The next President is inaugurated on January 20, 2009. You will have to wait until then to change America.)
While John McCain is out doing something, Barack Obama plays politics. As you know, the first debate is scheduled for Friday night. John McCain plans to be in Washington Friday night working...Obama plans to be in Mississippi spinning his socialist policies on America at the debate. Who do we want to lead this country in 2009... A DOER or A TALKER?
Time after time Barack Obama, Nancy Pelosi and Harry Reid continue to show that they put party first, country second. Is that the kind of policies we need for the next 4 years?
On another note, President Bush is campaigning for a massive bailout of our financial system. The plan basically nationalizes up to $1 trillion dollars in bad loans. Bad loans handed out by banks and applied for by people who knew they could not afford it. Now Bush wants YOU, the American taxpayer, to pay for this mess.
This could have all been avoided if we never passed laws mandating banks loan to people who could not afford it. Banks should have been more responsible.
We do not need this bailout. Assuming all the bad debt of banks will take away the risk people take when they apply for a loan. This bailout just prolongs the inevitable. We will most likely end up in a recession. It was the New Deal policies that prolonged the recession in 1929 into the Great Depression. Now Democrats (and George Bush) are calling for the largest expansion of the federal government - EVER! Haven't we learned from the past?
Assuming that the whole $700 billion dollars is used for bailouts (not all the loans have defaulted but the government still wants to bail them out anyway) it is not the end of the world. Let's ride out this storm and let the free market right everything. Great Depression socialist policies will only hurt us more. The American people do not need other peoples risky loans on our backs! The one thing that the federal government should be doing is prosecuting those who got rich on these loans like the executives of Fannie and Freddie who made millions (and donated hundreds of thousands to Obama and is now his financial advisor).