Where do we go from here?

I had been working on a post yesterday about a recent op-ed piece by Thomas Friedman, titled "Green the Bailout" -- A little ditty that encouraged our government to look beyond the bailout and work toward a Green buildup.  The idea is that plenty of countries do fossil fuel extraction and gasoline fueled autos better than we do. So why don't we switch our focus to the next step in energy -- green energy. If we can't be number one in the old way of powering the World, why not be number one in the new way? Why not replace lost blue collar jobs with what author Van Jones is calling "green collar" ones? It was going to kill.

Then the shit hit the fan and Congress gave into millions of Americans who can't bother to read a newspaper.

Whoops. Guilty as charged. I'm a print-journalism elitist. CNN and Fox News can kiss my ass.

The House of Representatives should be ashamed of themselves. Instead of taking the lead, getting out on the stump, bumping elbows with folks at potlucks and community centers and Wal-Marts all across America, convincing Americans that though this plan isn't perfect, it would help regular Janes and Joes as much as it would help the Big Bad Banks on Wall Street, they sat back and went with whichever way the wind blew. Good job, Leaders of the Free World. You may have just won re-election....but you're completely responsible for where we go from here.

(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!

A Debate! A Debate!

Ha! Ha! I shamed McCain into debating tonight! Booyah!!!

More to come this weekend. Yezzir.

EDIT: Now let the game of lowered expectations begin!

Obama spokesman Bill Button sent an e-mail to reporters quoting news stories indicating McCain was the stronger debater, particularly on foreign policy.

"If he slips up, makes a mistake or fails to deliver a game-changing performance, it will be a serious blow to his campaign," Button said of McCain.

McCain, for his part, praised Obama's debate skills this week, suggesting his rival's performances against Hillary Rodham Clinton during the primaries had helped him win the Democratic nomination.

Next up, insane amounts of spin! I can't wait!!!

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.

Blah-Blah, Blah-Blah, Money

Bailout Proposal Gets Hung Up Over Central Issue: Will It Work? (WS Journal)

Yeah, it's a hellova lot of dough. Yeah, it's gonna fall onto you and me (but probably mostly guys like him and him) to pay for it. And yeah, there's the danger that the Treasury might pay too much for these nearly worthless mortgage-related securities; and there's the danger that they might not pay enough for them either, and in turn, fail to jump-start the ailing market. But it's getting harder and harder to borrow on credit. Right now, it's just the big guys who are stuck neither buying or lending. But here's what happens if that trend continues:

• Less credit for homeowners to buy new homes or refinance current mortgages.
  
• Further decline in home prices, as people find it harder and harder to buy a home or keep their current one.
  
• Less credit to buy new cars, borrow money to fix old ones, and hence, get to work.
  
• Less credit for businesses to buy materials and produce goods.
  
• Less economic activity all around.
  
• Slower job growth, as people can't get to work, are busy fighting for their homes, lose their jobs because their employers go under, or a scary combinations of all three.

From the Journal, an op-ed by Kenneth Lewis, one of those overpaid CEOs, who in spite of all that, can still expound coherently why this bailout is good for everyone:

"The proposed rescue legislation accomplishes one simple goal: It provides a buyer (the Treasury) for financial assets that cannot be priced today because the market for such assets has temporarily frozen up, enabling financial institutions to stabilize their balance sheets, regain confidence in the system and one another, and start lending again....In the meantime, consumers [that's people like you and me*] will see value as money starts to flow, home prices stabilize, and the economy avoids what could otherwise be a deep -- and preventable -- recession.

Overblown hype? Probably more than a little. But can we risk sitting on our hands and doing nothing, while we lose the means with which to make home loans, car loans, and business loans which make our jobs work and keep us working?

Mr. Economist, I agree with you. Congress should pass it. And soon.

*Added by me, not that it makes more/less sense with or without it.

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}

In case you missed it...

Tina Fey returned to SNL last night to play Joe Biden Sarah Palin Tina Fey with-a-Canadian-accent. Hot!

*Sigh* Tina Fey. The more I see fake versions of Sarah Palin, the more I love her despite her complete lack of vice-presidential credentials.

In what respect, Charlie?

Don't worry Sarah Palin, I don't really understand the Bush Doctrine either. And neither do people who actually work/worked for President Bush.

Many Versions of 'Bush Doctrine' (Washington Post)

One of my favorite quotes from the piece comes from Philip Zelikow, who worked for the White House and the State Department under the president:

"I actually never thought there was a Bush doctrine...Indeed, I believe the assertion that there is such a doctrine lends greater coherence to the administration's policies than they deserve."

Zing!

Two Americas

One that thinks this picture is brimming with awesomeness, and one that is bewildered and crapping their pants.

Seriously. Is the political Left really this far out of touch from the average American? I mean, don't we all don crazy Viking hats every other Thursday? From the Economist:

Gloria Steinem, the founder of Ms magazine, says that “Palin shares nothing but a chromosome with Clinton”. Kim Gandy, the president of the National Organisation of Women, dismisses her as a “woman who opposes women’s rights”. Debbie Dingell, a leading Michigan Democrat, said that women felt insulted by the choice. Joe Biden says that, if Mrs Palin becomes the first female vice-president, it will be a “backward step for women”. “Eighteen million cracks”, says the New Republic, (referring to Mrs Clinton’s 18m votes and the glass ceiling) “and one crackpot.”

Sometimes I think "the culture wars" are just lazy journalism. Americans agree more often than we disagree, right? We all bleed red, white and blue. We would never criticize someone simply because we don't understand them or their values, right?

Right?!?!

Good job alienating 50 million Americans Biden. Just because President Bush does it every other day doesn't make it right.