Democrats Criticize McCain over Economy
If John McCain has one major weakness (not his age) it’s the economy. He has admitted in recent months that he really doesn’t know much about this subject, and that he’s dependent on good advisers for a good economic policy as president. Not only that, McCain has also flip-flopped on, say, the Bush tax cuts. Where he was a moderate with regards to spending and taxing once, he has moved significantly to the right ever since he announced he would run for president.
The Democrats understand all the above as well and have decided to take McCain on over the economy:
I am afraid that the dem talking points about McCain and the economy are already accepted wisdom, even though incorrect.
He did not say he doesn’t know much about the subject, just that it is one area that he would like to know better, and it was in a wide ranging interview on the fact that he wants to surround himself with good advisers, and not yes men:
His economic vision - less government, less spending, less taxes - still sound much better to me than Clinton’s & Obama’s knee jerk reaction to the credit issue - government bailout, government regulation, create new government bureaucracies. And I think I would put his knowledge of economics up against theirs any day.
I do not want to live in a nanny state. I want free markets to figure this out, and they do. We had "irrational exuberance" in the stock market in the late ’90’s which led to short term economic crisis & correction in early part of this decade, and this credit crunch will pass too - and hopefully in the process will flush a few financial institutions that were getting too fancy with their "financial instruments" and risk taking down the toilet. Prosecution if any of them broke laws by hiding the risks they were taking. That is a "market correction" that has some lasting impact - shareholders will demand better protections from the surviving institutions, and punish them with low stock prices - just as they did to Enron and other firms that even smelled like Enron after the stock bubble burst.