Notes on Nov 4th

Three Loves

We do love Thomas Friedman around here.

"Given that Times columnists are not allowed to “formally” endorse candidates and given that the context of this election has changed so much from the policy positions the candidates started with, all I can suggest is that you vote for the candidate with these character traits....Vote for the candidate you think has the smarts, temperament and inspirational capacity to unify the country and steer our ship through what could be the rockiest shoals our generation has ever known."

And we do love British neo-liberals, too.

"For all the shortcomings of the campaign, both John McCain and Barack Obama offer hope of national redemption. Now America has to choose between them. The Economist does not have a vote, but if it did, it would cast it for Mr Obama. We do so wholeheartedly: the Democratic candidate has clearly shown that he offers the better chance of restoring America’s self-confidence. But we acknowledge it is a gamble. Given Mr Obama’s inexperience, the lack of clarity about some of his beliefs and the prospect of a stridently Democratic Congress, voting for him is a risk. Yet it is one America should take, given the steep road ahead."

And finally, we cannot help but love Ralph Nader with all our hearts.

"I believe in I.F. Stone's dictum that in all social justice movements, you've got to be ready to lose. And lose and lose and lose. It's not very pleasant, but you have to accept this if you believe in what you're doing."

Happy voting.

Sarah Palin, you're breaking my heart.

I love Sarah Palin. She's basically every mom of every friend I had growing up in the Midwest, only way hotter. She's the new face of the new feminism (I can't even remember who the old face of the new feminism was anymore). She's everything Bush Republicanism could hope for in a not-so-much-ugly-old-white-man package. She's funny, she charming, she's got great taste in eye wear. She can shoot a gun and bake cookies and manage an entire state while raising a family. In other words, I want to build a time machine and marry her in place of the that bozo, pretty-boy Todd McGoofyPants. Why should he be so lucky?

But I don't want Sarah Palin to be my vice-president.

Gov. Palin has been/will be the downfall of the McCain campaign. For all the people who love her for all the same reasons I do (but who also plan on voting for her), there are even more Americans who see this selection for what it is: a desperate attempt by the McCain camp to seem younger, less Beltway, and more family friendly.

It's no secret McCain is old. It's no secret McCain has been involved in Washington politics for almost 30 years. And it's no secret that McCain has leaned centrist in the past when it come social conservatism. Picking Sarah Palin was supposed to solve all that. And for the Republican base, it did. But for the rest of America, it pretty much scared the bejesus out of us. I love Sarah Palin with all my heart. But she cannot, under any circumstances, be our vice-president in 2009. And this is why:

1) According to FactCheck.org (and check out their sources for further reading), until Palin became a VP candidate, she had no problems with the types of congressional earmarks John McCain has spent a good part of his career opposing. (McCain is on record as criticising three specific earmarks that went to Mayor Palin's old Wasilla stomping grounds; earmarks secured by a Washington lobbyist hired by Palin during her tenure as mayor.) She also failed to come out against the "Bridge to Nowhere" until after it was dead in Congress. And she still accepted the earmarked, pork-barrel funds anyway, spending them on her state's general transportation budget. We need someone who understands this budget mess. And Sarah Palin is not that someone.

2) Palin (along with McCain) also seriously misunderstands Obama's tax plan. Palin is on record criticising it as "painful tax increases on working American families." This in spite hard data that shows Obama's plan will lower taxes for 81% of all households (and 95% of those households with children), while raising them for those at the top of America's income bracket (those families making over $250,000 a year). Yes, rich people work, too. But chances are Joe Sixpack is making much less than a cool quarter-mil a year. Obama's tax plan takes care of him. And it's time for McCain-Palin to kill this stupid misconception/lie.

3) She has absolutely no experience in either of the biggest problems we are mired in today: managing a messy war in Iraq while simultaneously governing over a sluggish 13.8 trillion dollar economy. At the very least, McCain, Obama and Biden have congressional experience in these matters. Palin has managed the 45th largest economy of the United States of America for 22 months. This gives me pause. And these things tell me she just isn't ready for this position.

Two and half weeks ago conservative columnist David Brooks was quoted as saying that Palin was in no way ready to be vice-president:

"The more I follow politicians, the more I think experience matters, the ability to have a template of things in your mind that you can refer to on the spot, because believe me, once in office there's no time to think or make decisions."

What Brooks is saying here resonates tremendously with me. Presidents need to have wisdom, experience and a worldview in place before they take office, because once you're there, there's little time to formulate these things. You can't be catching up on William Buckley, Russell Kirk and Richard Weaver in the middle of a heated presidential campaign.

Maybe once Palin is safely ensconced in her vice-presidential office, she would have time for such things. But with McCain's age being what it is, she could be called on to serve as president before she is actually ready to be president. And because of that, I can't in good conscience vote for her. We just elected (and re-elected) a president who wasn't ready for the job, and look where that got us. We need to learn from our mistakes and vote for folks with the experience to lead from Day 1. Even Obama, with his political career only 12 years old, is light years ahead of Palin in that regard.

As a country in the midst of a teetering economic crisis, drawn out wars in the Middle East and Asia, problems with a resurgent Russian state, run-away health care costs and record budget deficits, we deserve a presidential team that's up to the task. And unfortunately, with Sarah Palin on the Republican ticket, the Republicans have failed to provide us with one. It's time to look elsewhere for a president if this is the best that McCain and the Republican Party can do.

(Sort of) live blogging the first presidential debate

Not only have I been (sort of) live blogging the debate, but in the spirit of Tony Reali's Around the Horn, I will dole out points arbitrarily to whomever for whatever reason I deem appropriate. This is what blogging is all about!

9:06 Kick-off!

9:07 I hate the lazy "Main Street" vs. "Wall Street" comparison. Our Main St is called Merchants Row. Or Highway 7. O-1

9:08 A 4-point plan for the bailout, GObama! O+1

9:09 Teddy's sick again. Really, McCain? M+0-1

9:10 Bipartisanship! The mark of old McCain. Where did he go? M+0

9:12 Blah, blah, I can't say whether I approve this plan. Blah, blah, Hillary had bigger balls than both of us. O/M -1

9:14 And forever....Go D-Day! M+0

9:15 They're being waaaaaay too nice. This just proves the point I've been trying to hammer home. These guys don't know enough about economics to have an honest conversation about the Economy. O/M -1

9:20 Yeah! Burn that tax plan to the ground Obama! Check out the Obamaculator to see your tax cut under the distinguished Senator from Illinois. O+2

9:22 "The sheriff". Nice nickname. I guess. M-1

9:24 "Pork-Barrel Obama". Much better nickname. True. O-1

9:26 Close the loopholes! Close-close the loopholes! O+1

9:27 Why can't they just be buddies? JK. Interruptions+1 

9:30 Ohio! Michigan! Electric cars! O+1

9:32 Ethanol subsidies? McCain's right. Stoooopid! M+1

9:33 Eliminate the waste. M+1

9:35 Google the govt. O+1

9:35 Why is the eagle facing McCain? PBS-1

9:36 Education. Mmm-hmm. Woulda given you another point had you mentioned after-school education. O+1

9:37 Nuclear power. It's gotta be on the table. There's no way around it if we want to decrease our coal burnin' ways. M+1

9:37 Nuclear does next to nothing to wean our dependence on foreign oil. That's an outright lie. M-2

9:39 Health care needs the govt's help. Plain and simple, Johnny. M-1

9:40 Cutting taxes helps a hurtin' economy. But so does increasing spending on domestic projects that create American jobs. M+1-1

9:41 "Orgy of spending"! Great quote! O+1

9:41 Yes, McCain you've opposed him at times, but you've really fallen in love with Bush since 2004. M-1

9:43 The troop surge worked. McCain is right, and he was right when it wasn't popular to be right. M+3

9:44 You opposed the war in the Illinois Senate. Good job. O-2

9:45 Sports analogies. Took our eye off the ball in Afghanistan. Double points. O+2

9:47 Don't lean on Joey too much. O-1

9:48 Take him down, Obama!!! We screwed the pooch in 2003, no doubt. O+2

9:48 Tactic/Strategy? Ass-hole-ish joke, McCain. M-1

9:50 Troop funding. John McCain, don't lie about your opponent's record. M-1

9:52 Move the troops from Iraq to Afghanistan.  I agree. But we can only do that successfully because the surge worked. O+1-1

9:53 Yeah, Obama! That's not true! Call a liar a liar. O+1

9:54 Obama can talk foreign policy and not sound like a novice. I guess we should expect that from a candidate, but I'm still giving him a point. O+1

9:55 3-point plan for Afghanistan! O+1

9:56 I have a soft spot for politicians who admit mistakes. M+1

9:56 Pakistan's a crazy/precarious situation. Walk softly is the correct way to handle it. M+1

9:57 No matter what happens, at the very least, we're going to have a sharp, whip-smart president. Rarely is the questioned asked: Is our children learning? M/O+1

9:58 Call him on it, Obama.We don't attack Pakistan on a whim. Ending bin Laden, no matter where is resides, is the right strategy. O+1

10:02 I like success as much as the next guy, but at what cost, Senator McCain? M-1

10:03 Who can tell the most heart-warming troop story. Why, o why??? M-2 for bringing it up; O-1 for stooping to his level.

10:05 We didn't put enough emphasis on Afghanistan after 2003. McCain, you may have visited the area, but you and the Republicans dropped the ball. M-2

10:06 There's only a connection between Iraq and Afghanistan because we created that connection by mistakenly going after Iraq. M-1

10:07 Yes, John. We cannot allow a second Holocaust. Way to go out on a limb. M+0

10:07 I love the name "League of Democracies". It sounds like an awesome superhero group. And not necessarily a bad idea. Easy points because I'm a sucker. M+2

10:09 We cannot allow the situation in Iraq to spill into Iran. Shame on McCain O+1

10:10 We need the Ruskies and the Chinese, too. O+1

10:11 Preconditions. I really don't care, to be honest. But only if we can talk directly to the Dalia Lama as well. Jonny+3

10:12 Ahmadinejad's a crazy bastard. I know no one's arguing that, but still give him a point. M+1

10:14 Talk to North Korea, John. Il's crazy, too, but we weren't getting anywhere by ignoring him. O+1

10:18 I just microwaved some pizza. Are we really still talking about preconditions? M/O -1

10:18 I've never met Kissinger. He's not been my friend for 35 years. But I know this: He's a crazy bastard, too. Jonny+1

10:20 Cold war dumb. Reagan+1

10:21 Soul jokes! O+1

10:23 Prof McCain. Teach it! M+2

10:26 Russia's kind of boring. Russia-1

10:27 Clean coal. What happened to that?!! Has it been delayed along with my flying car? O+1

10:28 Offshore drilling will not help anytime soon. M-1

10:30 9/11 Commission. Oh man, I loved the old McCain. What happened to that guy? Straight-Talk+1

10:30 Torture is bad. M+1

10:31 No just our borders, but our ports, too! M-1

10:32 OBAMA MENTIONED PORTS RIGHT AFTER I TYPED IT. Psychic?!? O+1

10:33 Obama loves 'merica! O+1 (and I'm sure McCain does, too M+1)

10:34 Missile defense if a ridiculous boondoggle. M-1

10:34 How much longer does McCain feel we need these sort of troop levels in Iraq? Even Bush is ready for a phased withdrawal. Whaaaa? M+1

10:36 I love investing in science! Go NASA! Go NOAA! Go Scientists! O+1

10:38 "I love veterans, and I'll take care of them." One of the least political moments of the night. McCain was wearing his heart on his sleeve there.  M+1

10:39 We need more kids loving 'merica! Obama's Dad+1

10:40 Like I said, these guys are two smart cookies. I don't think this election is as black & white as we tend to make it. (If i say' no pun intended,' does that make me an asshole?)

Let's see who won according to this ridiculous scoring system.

Obama +16      McCain -1

I have no idea what this means. Also, I have no desire to check my figures. Good debate, though.

Okay fine. Obama wins.

Let the spin begin!

More of the same....but better

Seriously America. Let's all take a deep breath and read.

Issue Is Payback, Not Bailout (NY Times)

Take it away, David Leonhardt:

"The first thing to understand is that a bailout plan doesn’t have to cost anywhere close to $700 billion, so long as it’s designed well. The $700 billion number that you see everywhere is an estimate of how much the government would spend to buy deteriorating assets now held by banks. Eventually, the government will turn around and sell these assets, for a price almost certain to be greater than zero. So this $700 billion is very different from $700 billion spent on a war or on Medicare."

In other words, we'll spend money, but we'll get some of it back.

"Figuring out how much to pay for the assets is the first problem. The drop in house prices and rise in foreclosures have made it clear that these securities are worth considerably less than banks expected. But there is enormous uncertainty about how much less.

Based on the underlying fundamentals (like the current foreclosure rate and the one forecast for the future), many of the securities appear to be worth something on the order of 75 percent of their original value. But thanks to the fear now gripping the market — not necessarily an irrational fear, given that most forecasts have proven far too sunny over the last year — very, very few of those securities are trading hands. Among those that have, the sales price has been roughly 25 percent of the value."

This is a much better way of saying what I tried to explain in my last post. The Treasury (and more accurately, we, the taxpayers) doesn't want to overpay too much more than these assets are actually worth. If we do, we could very well end up losing a large chunk of that $700 billion when we sell these assets back to the market.

"It [The Government] clearly shouldn’t pay 75 cents on the dollar, or anything close to it. That would mean the Treasury Department — which, in the end, is really you and me — was assuming nearly all the risk. But it probably can’t pay 25 cents. That might fail to fix the credit markets, because it would do relatively little to improve financial firms’ balance sheets. Firms might then remain unwilling to lend money to businesses and households, which is the whole problem the bailout is meant to solve."

BUT, BUT, BUT! We can't pay the low price either, because no matter what these assets are worth, if we pay too little, it might not be enough of a cash-kick-start to get the markets going and banks lending and borrowing again.

"The most obvious solution is to pay more than 25 cents on the dollar and then demand something in return for the premium — namely, a stake in any firm that participates in the bailout. Congressional Democrats have been pushing for such a provision this week, and it’s one of the most important things they have done.

The government would then be accomplishing three things at once. First, it would take possession of the bad assets now causing a panic on Wall Street. Second, it would inject cash into the financial system and help shore up firms’ balance sheets (which some economists think is actually a bigger problem than the bad assets). And, third, it would go a long way toward minimizing the ultimate cost to taxpayers.

Why? The more that the government overpays for the assets, the larger the subsidy it’s providing to Wall Street — and the more it is pushing up the share prices of Wall Street firms. As Senator Jack Reed, Democrat of Rhode Island, notes, the equity stakes allow the government to recapture some of the subsidy down the road. It’s a self-correcting mechanism."

In other words, if this works, we spend cash, and then down the road, we make some of it back. All $700 billion? Who knows!? But this isn't money thrown down the drain. If we pay enough for these assets to get the economy flowing, but not so much that we won't get a healthy return when we decide to sell, this plan really does become a Payback, not a Bailout.

Now it's time to tell your friends and family. We need to understand this. And then we need to tell our elected officials to get off their rears and make it happen. And hey Obama. Hey McCain. Why you don't you try leading for once? Right now, this hand-ringing, card-holding, who can be more mysterious BS just isn't working for me. Come right and out either fully support this plan or reject it. With words like, "Hey, maybe it's not perfect, but we need this America!" Or, "This a bad idea, America. We gotta come up with something entirely different."

Or just cancel a debate. I know you don't want to embarrass yourself by speaking about economics, Johnny McCain. But this isn't the right way to go.

Speaking of Sorkin...

Mauren Dowd, who's true calling I'm sure was a Harlequin Romance novelist, had a column last week titled "Aaron Sorkin Conjures a Meeting of Obama and Bartlet." I say 'had' because she really didn't write a word of it. Aaron Sorkin did. Because I can't stand her picture, with that come-hither stare that only a 50-something, post-mid-life crisis, New York male could love (like, say, Aaron Sorkin), I reprint the column in its entirety so that you won't be forced to redirect to the NY Times website. And that scary, scary picture.

Really, Maureen. What were you thinking on photo day? Really.

**************************

BARACK OBAMA knocks on the front door of a 300-year-old New Hampshire farmhouse while his Secret Service detail waits in the driveway. The door opens and OBAMA is standing face to face with former President JED BARTLET.

BARTLET Senator.

OBAMA Mr. President.

BARTLET You seem startled.

OBAMA I didn’t expect you to answer the door yourself.

BARTLET I didn’t expect you to be getting beat by John McCain and a Lancôme rep who thinks “The Flintstones” was based on a true story, so let’s call it even.

OBAMA Yes, sir.

BARTLET Come on in.

BARTLET leads OBAMA into his study.

BARTLET That was a hell of a convention.

OBAMA Thank you, I was proud of it.

BARTLET I meant the Republicans. The Us versus Them-a-thon. As a Democrat I was surprised to learn that I don’t like small towns, God, people with jobs or America. I’ve been a little out of touch but is there a mandate that the vice president be skilled at field dressing a moose —

OBAMA Look —

BARTLET — and selling Air Force Two on eBay?

OBAMA Joke all you want, Mr. President, but it worked.

BARTLET Imagine my surprise. What can I do for you, kid?

OBAMA I’m interested in your advice.

BARTLET I can’t give it to you.

OBAMA Why not?

BARTLET I’m supporting McCain.

OBAMA Why?

BARTLET He’s promised to eradicate evil and that was always on my “to do” list.

OBAMA O.K. —

BARTLET And he’s surrounded himself, I think, with the best possible team to get us out of an economic crisis. Why, Sarah Palin just said Fannie Mae and Freddie Mac had “gotten too big and too expensive to the taxpayers.” Can you spot the error in that statement?

OBAMA Yes, Fannie Mae and Freddie Mac aren’t funded by taxpayers.

BARTLET Well, at least they are now. Kind of reminds you of the time Bush said that Social Security wasn’t a government program. He was only off by a little — Social Security is the largest government program.

OBAMA I appreciate your sense of humor, sir, but I really could use your advice.

BARTLET Well, it seems to me your problem is a lot like the problem I had twice.

OBAMA Which was?

BARTLET A huge number of Americans thought I thought I was superior to them.

OBAMA And?

BARTLET I was.

OBAMA I mean, how did you overcome that?

BARTLET I won’t lie to you, being fictional was a big advantage.

OBAMA What do you mean?

BARTLET I’m a fictional president. You’re dreaming right now, Senator.

OBAMA I’m asleep?

BARTLET Yes, and you’re losing a ton of white women.

OBAMA Yes, sir.

BARTLET I mean tons.

OBAMA I understand.

BARTLET I didn’t even think there were that many white women.

OBAMA I see the numbers, sir. What do they want from me?

BARTLET I’ve been married to a white woman for 40 years and I still don’t know what she wants from me.

OBAMA How did you do it?

BARTLET Well, I say I’m sorry a lot.

OBAMA I don’t mean your marriage, sir. I mean how did you get America on your side?

BARTLET There again, I didn’t have to be president of America, I just had to be president of the people who watched “The West Wing.”

OBAMA That would make it easier.

BARTLET You’d do very well on NBC. Thursday nights in the old “ER” time slot with “30 Rock” as your lead-in, you’d get seven, seven-five in the demo with a 20, 22 share — you’d be selling $450,000 minutes.

OBAMA What the hell does that mean?

BARTLET TV talk. I thought you’d be interested.

OBAMA I’m not. They pivoted off the argument that I was inexperienced to the criticism that I’m — wait for it — the Messiah, who, by the way, was a community organizer. When I speak I try to lead with inspiration and aptitude. How is that a liability?

BARTLET Because the idea of American exceptionalism doesn’t extend to Americans being exceptional. If you excelled academically and are able to casually use 690 SAT words then you might as well have the press shoot video of you giving the finger to the Statue of Liberty while the Dixie Chicks sing the University of the Taliban fight song. The people who want English to be the official language of the United States are uncomfortable with their leaders being fluent in it.

OBAMA You’re saying race doesn’t have anything to do with it?

BARTLET I wouldn’t go that far. Brains made me look arrogant but they make you look uppity. Plus, if you had a black daughter —

OBAMA I have two.

BARTLET — who was 17 and pregnant and unmarried and the father was a teenager hoping to launch a rap career with “Thug Life” inked across his chest, you’d come in fifth behind Bob Barr, Ralph Nader and a ficus.

OBAMA You’re not cheering me up.

BARTLET Is that what you came here for?

OBAMA No, but it wouldn’t kill you.

BARTLET Have you tried doing a two-hour special or a really good Christmas show?

OBAMA Sir —

BARTLET Hang on. Home run. Right here. Is there any chance you could get Michelle pregnant before the fall sweeps?

OBAMA The problem is we can’t appear angry. Bush called us the angry left. Did you see anyone in Denver who was angry?

BARTLET Well ... let me think. ...We went to war against the wrong country, Osama bin Laden just celebrated his seventh anniversary of not being caught either dead or alive, my family’s less safe than it was eight years ago, we’ve lost trillions of dollars, millions of jobs, thousands of lives and we lost an entire city due to bad weather. So, you know ... I’m a little angry.

OBAMA What would you do?

BARTLET GET ANGRIER! Call them liars, because that’s what they are. Sarah Palin didn’t say “thanks but no thanks” to the Bridge to Nowhere. She just said “Thanks.” You were raised by a single mother on food stamps — where does a guy with eight houses who was legacied into Annapolis get off calling you an elitist? And by the way, if you do nothing else, take that word back. Elite is a good word, it means well above average. I’d ask them what their problem is with excellence. While you’re at it, I want the word “patriot” back. McCain can say that the transcendent issue of our time is the spread of Islamic fanaticism or he can choose a running mate who doesn’t know the Bush doctrine from the Monroe Doctrine, but he can’t do both at the same time and call it patriotic. They have to lie — the truth isn’t their friend right now. Get angry. Mock them mercilessly; they’ve earned it. McCain decried agents of intolerance, then chose a running mate who had to ask if she was allowed to ban books from a public library. It’s not bad enough she thinks the planet Earth was created in six days 6,000 years ago complete with a man, a woman and a talking snake, she wants schools to teach the rest of our kids to deny geology, anthropology, archaeology and common sense too? It’s not bad enough she’s forcing her own daughter into a loveless marriage to a teenage hood, she wants the rest of us to guide our daughters in that direction too? It’s not enough that a woman shouldn’t have the right to choose, it should be the law of the land that she has to carry and deliver her rapist’s baby too? I don’t know whether or not Governor Palin has the tenacity of a pit bull, but I know for sure she’s got the qualifications of one. And you’re worried about seeming angry? You could eat their lunch, make them cry and tell their mamas about it and God himself would call it restrained. There are times when you are simply required to be impolite. There are times when condescension is called for!

OBAMA Good to get that off your chest?

BARTLET Am I keeping you from something?

OBAMA Well, it’s not as if I didn’t know all of that and it took you like 20 minutes to say.

BARTLET I know, I have a problem, but admitting it is the first step.

OBAMA What’s the second step?

BARTLET I don’t care.

OBAMA So what about hope? Chuck it for outrage and put-downs?

BARTLET No. You’re elite, you can do both. Four weeks ago you had the best week of your campaign, followed — granted, inexplicably — by the worst week of your campaign. And you’re still in a statistical dead heat. You’re a 47-year-old black man with a foreign-sounding name who went to Harvard and thinks devotion to your country and lapel pins aren’t the same thing and you’re in a statistical tie with a war hero and a Cinemax heroine. To these aged eyes, Senator, that’s what progress looks like. You guys got four debates. Get out of my house and go back to work.

OBAMA Wait, what is it you always used to say? When you hit a bump on the show and your people were down and frustrated? You’d give them a pep talk and then you’d always end it with something. What was it ...?

BARTLET “Break’s over.”

******************************

Sorkinized!

Well they're no Jed Bartlett, that's for sure

 

Yes, yes, the sky is falling, but there's still an election going on. So dagnabbit, let's do this.

From the NY Times: In Candidates, 2 Approaches to Wall Street

With both candidates trying to convince America that they hold the answers to all our financial woes, it's worth noting that neither man has much more economic experience than you or I. Both guys have their strengths, to be sure. It's just the economy isn't one of them. From the Times: 

"One reason for both men’s sketchy records on financial issues is that neither has been a member of the Senate Banking Committee, which has oversight of the industry and its regulators. Under both parties’ leadership, the committee often has been a graveyard for proposals opposed by lobbyists for financial institutions, including Fannie Mae and Freddie Mac, which last week were forced into government conservatorships.

Industry lobbyists’ success in killing such regulations meant senators outside the banking panel did not have to take a stand on them."

This shouldn't surprise us. It's typical Washington-think: "If it's not up for a vote, why should I care?" McCain seems to be toeing the party line as closely as possible, allowing for greater regulation during times of crises, to be replaced by deregulation as soon as the market rights itself (with nary a thank you to Uncle Sam).

What's wrong with this thinking is that it's essentially reactive. By default, it does nothing to prevent something like this from happening again. Greater regulation in response to the subprime mortgage fiasco is fine and dandy, but we really could have used it six years ago when lenders were handing out shady home loans like candy. McCain, in deference to his esteemed free market colleagues, doesn't seem to get this.

And while Obama has little more economic experience than McCain, at least he sees the inherent value in (continued) government oversight over profit-hungry financial institutions. In that sense, Obama is the truer Conservative on the matter. Conservative because he recognises the depravity of humans to put their personal interests over the interests of others. Conservative because he's not afraid to use established power to keep unchecked greed in check.

{/End quasi-Sorkin clap-trap}

Obamaculator

Change we can all believe in, even if we vote for the other guy (unless you're a richie).

While we've been discussing how you shouldn't trust pollsters, and how voting for one of the Big Two is like voting for ranch dressing vs. thousand island*, here is a story that ignores both from the Nation.

According to a recent Gallop poll, half of Americans expect their tax burden to rise if Senator Obama is elected. Not so according to Tax Policy Center -- an independent, non-partisan off-shoot of the center-sometimes-center-left Brookings Institution -- whose latest study finds that 95% of American families would receive a tax cut under Obama's plan:

Obama would give larger tax cuts to low- and moderate-income households and pay some of the cost by raising taxes on high-income taxpayers. In contrast, McCain would cut taxes across the board and give the biggest cuts to the highest-income households.

To find out how you would benefit under Obama's plan, check out Obamataxcut.com, a neat-o tax-cut calculator based on three simple questions. And no, not those questions three.

*Which makes sense to me, because both taste terrible; you on the other hand might love ranch, or Republicans.