
Here are a few articles from both the US and international media about the US Presidential race. Highlights of each article provided with a link to the full article.
It’s Still the Economy, Stupid! Obama Goes on the Attack
By Michael Tomasky in the UK Guardian.
Simply because he’s a member of George Bush’s political party, McCain has the bigger challenge over the next few days. With 81% of Americans believing the country is “seriously” on the wrong track, McCain has to explain why he’ll be so different even though he’s voted with Bush 90% of the time.
Obama has always had more trouble with packaging. He has, if anything, too many policy proposals. He finds it hard to pare them down to three or four compelling points and present them in crisp, short sentences. In US presidential politics, the packaging is more important than the thinking. And next Friday brings the first of the three important presidential debates.
No doubt, yesterday’s poll in Michigan has 73% of voters in Michigan saying the country was headed in the wrong direction and 42% tied McCain to Bush. For McCain, this may be too much to overcome.
Wall Street Woes Benefit Obama Candidacy
By Jonathan Martin & Glenn Thrush writing for Politico.
Wall Street’s breakdown and bailout are likely to improve Barack Obama’s odds of reaching the White House — a point not lost on John McCain, whose stumbles this week seemed to lend credence to the view that economics is not his strong suit.
He said the fundamentals of the economy were “strong,” then he said the economy was “in crisis.”
In politics, perception does not always match the reality. The reality is that Senator Obama is tied intimately with the former leadership Fannie Mae and Freddie Mac and has received more funds from these now seized corporations than any other Senator except for Senator Dodd. The reality is that Senator McCain called for reform at these two institutions in 2006. The perception, however, is that this mess is all Bush’s fault and by extension McCain’s.
Betting on John McCain
Economist Steve Landsburg in The Atlantic explains why he thinks McCain’s economic policies make more sense.
Free trade and immigration are my top issues, and McCain wins on both.
These are my top issues for several reasons. First, trade is the engine of prosperity not just for the United States but also for the poorest of the world’s poor. Nothing matters more than that. Second, the instinct to care about the national origin of your trading partner (or employer, or employee, or landlord, or tenant) is an ugly one, and the instinct to care about the national origin of other people’s trading partners—and on that basis to interfere forcibly with other people’s voluntary transactions—is even uglier.
Finally, protectionism, like creationism, requires an extraordinary level of willful ignorance. The consensus for free trade among economists is approximately as solid as the consensus for evolution among biologists, and it is a consensus supported by a solid body of both theory and observation. To ignore that consensus betrays a degree of anti-intellectualism that frightens me.
Free trade and energy are two of mine. McCain scores better on these. On free trade, it’s not even a contest. Obama has not a leg to stand on after his attacks on NAFTA and the Colombian FTA. On energy, it’s impossible to overlook the fact that Obama voted for the Bush Cheney Energy Policies. Contrast that vote with McCain who did not. McCain also undestands that energy independence is a national security issue. (more…)