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Politics & Power

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It’s The Economy, Stupid!

With less than two months left in this campaign season it seems that only one of the two major presidential candidates really gets the idea that the conservative agenda of the last eight years is at the heart of what is going on with our faltering economy. While Republicans deregulated the banking and financial sectors their donors made piles of money but not a whole lot of sound business decisions. As we reap the fruits of creative loan financing and loosely controlled creative investment tactics in the form of crashing stocks and collapsing financial institutions it seems that John McCain lives in some sort of fantasy bubble of unreality.

While the nation has been fawning over the Republican eye candy that is Sarah Palin, attention has been diverted from the real crisis in our financial markets. Merrill Lynch, one of the nation’s most respected financial firms had to be rescued from financial ruin by Bank of America while Lehman Brothers declared Chapter 11 bankruptcy, Fannie Mae and Freddie Mac had to be bailed out by the federal government and AIG, one of the largest insurance companies in the nation, needed an 85 billion dollar emergency loan from the federal government to remain solvent. While this was going on, John McCain gave speeches talking about how the foundation of our economy is strong. One of his top advisors called the current financial crisis a “mental recession” and referred to Americans as “whiners” for being concerned about the apparent failing infrastructure of America’s financial sector.

With this past weekend’s collapse of Lehman Brothers and barely avoided collapses of Merrill Lynch and AIG attention seems to be refocusing on the economy. One can only hope that people in America will start to put two and two together and figure out that more deregulation and tax breaks for business are not the answer to the nation’s financial woes. It is time to hold the executives who made the bad decisions personally accountable for the hardships our nation is bearing due to their bad decisions and it is time to cut the strings of the golden parachutes to keep CEO’s from bankrupting companies and then getting multi-million dollar severance packages when they leave the company. It is time for accountability to be the mantra of Washington and that will not come from people preaching the gospel of “business knows best”.

Some within the McCain campaign seem to have figured out that the message needs to be modified for the current crisis as the candidate has recently begun to ease off on his business tax breaks rhetoric but at this late date it appears to be more politics than belief when taking his statements of the last few months into account. In contrast, Obama has been steadfastly holding to his assertions that there needs to be more accountability for business and that regulations to protect people from unethical business practices should be the law of the land.

As we approach the November elections we need to remember who has been siding with big business and who has been calling for more scrutiny of how businesses do business in America. A woman on a major party ticket is interesting news but it is not the solid basis for making a decision about who to put in the White House. While we struggle to pay our mortgages people like John McCain and his backers forget how many houses they own because it’s tough to keep track of so many. This election is not about black or white or male or female. This election is about who will look out for average working folks struggling to keep their lives together while the millionaire lobbyists and CEO’s backing the old guard struggle to decide if they want to buy a Bentley or a Rolls with this year’s bonus check.

Troy Wilson-Ripsom - Staff Writer | Give your feedback on this article. | Click icon to Digg this article



Get Involved

Do you sit and yell at the TV when politicians come on? Do you shake your head sadly whenever you see a homeless veteran? Is that all you tend to do?

It's time to put up or shut up America. We all love to talk about how we could do things better or how we would do it if we were in charge. Well, it's time to put your money where your mouth is. If you can think of it, you can write it down. If you can write it down, you can type it. If you can type it, you can e-mail it and if you can e-mail it, you can send it here.

We at Reform America are committed to giving voice to anyone who wants to put their ideas out there to make our nation a better place. As the readership grows, we are able to take those views to a wider and wider audience. Grassroots campaigns begin with voices speaking out. You have opinions. Voice them. We aren't about conservative or liberal. We aren't about pro-this or anti-that. We're about Americans and the First Amendment. Reform America is about politics by, for and of the people. You are the people. You only need to speak up. America is listening. Send your article to: stories@reform-america.net



Have You Been Downsized Due to Outsourcing?

For several years now we have listened to some within the business community tell us that America can't compete on a global scale unless they send our jobs overseas where they can be done cheaper. The question becomes, if we don't have good paying jobs here, how can we sustain our own economy? We want to hear from you. Have you lost your job? Have you been forced into a lower wage job due to outsourcing? Has outsourcing been a success for you? Did you end up in a better job?

Tell us your story so we can make sure the politicians see how outsourcing really impacts the workers who are backbone of America. Send your story to stories@reform-america.net

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