Archive for October 2nd, 2008

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McCain Decries Bailout Earmarks

October 2, 2008

By Andy Barr / Politico

John McCain expressed outrage over earmarks in the Senate bailout package, a bill he voted for Wednesday night.

“It’s insanity, and it’s obscenity because it’s a waste of taxpayers’ dollars, and it goes on,” McCain said on MSNBC.

“And until we stop it, until we get, frankly, a president who will say I’m going to veto those bills, I’m going to make the people famous that put them on there, famous — and by the way, Joe, you know that this problem has grown and grown and grown,” McCain added. “There’s a sharp difference, a total difference between myself and President Bush on the issue of pork barrel and earmarks and out-of-control spending and the growth of government without paying for it. Don’t forget that part.”

The bill includes tax breaks for rum producers in Puerto Rico and the Virgin Islands as well as producers of wooden arrows used for children’s toys.

Asked why he voted for the bill, which passed 74-25, if it was “insanity,” McCain said he did it because the country is on the “brink of economic disaster.”

Defending his vote, the Arizona senator pointed to the “plenty of other bills that I fought against.”

“I voted against the Medicare prescription drug program,” McCain declared. “If you look at the Citizens for a Sound Economy, the National Taxpayers Union, the Citizens Against Government Waste, I have been a hero to them because I have fought continuously, continuously against these.”

“I fought the leadership of my party and I have had success,” the Arizona senator added. “I saved the taxpayers $6.8 billion on a tanker deal that was going to cost the taxpayers that much because of this cozy deal. It ended up with people in jail.”

McCain then attacked Barack Obama, who he said “has never stood up to the leadership of his party on any issue. Not a one.”

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Chicago Politics Coming to Washington? No Thank You.

October 2, 2008

Dear Illinois Leadership – All Democrats:

Senators Obama and Durbin,
Rep. Jesse Jackson, Jr.
Governor Rod Blogojevich
House Leader Mike Madigan
Attorney General Lisa Madigan (Mike’s Daughter)
Mayer Richard M. Daly (Son of Mayor Richard J. Daley)

Perhaps the U.S. should pull out of Chicago?
- Body Count: 292 killed (murdered) in Chicago …. 221 killed in Iraq.

Perhaps you will do better with the Social Security System? I don’t think so.
- IL State Pension Fund $44 Billion in debt, worst in country.

Perhaps your tax policy is better? Not unless you get high grades the higher taxes are.
- Cook County (Chicago)sales tax 10.25% – highest in the nation.

Perhaps your education policy is worthwhile? Not really.
- Chicago school system rated one of worst in the country.

This is the political culture that Obama surrounded himself with in Illinois and he’s going to “fix Washington”?

Perhaps not.

-AP

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McCain Thinks Ifill is Unfit for Moderating

October 2, 2008

Mike Allen of Politico reports:

Hours ahead of the vice presidential debate, Sen John McCain (R-Ariz.) criticized the selection of PBS’s Gwen Ifill as moderator because she is writing a book called “The Breakthrough: Politics and Race in the Age of Obama.”

“Frankly, I wish they had picked a moderator that isn’t writing a book favorable to Barack Obama — let’s face it,” McCain said on “Fox & Friends.” “But I have to have confidence that Gwen Ifill will handle this as the professional journalist that she is. …

“Life isn’t fair, as I mentioned earlier in the program.”

Ifill is moderator and managing editor of “Washington Week” and senior correspondent of “The NewsHour with Jim Lehrer.” She is viewed as one of Washington’s fairest journalists.

Okay, so let the bets begin. Does the MSM play the race card and say that McCain wouldn’t complain if she was a pretty white woman or does the media go and paint McCain as a whiner using the “Life isn’t fair line”? Perhaps a combo of both

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Even More Voter Fraud in Ohio

October 2, 2008

Courtesy of MM:

Yesterday they were registering homeless people who were not even from Ohio. Now we learn that election observers can even watch as the homeless get their thug thizzle on?  If the Opacalypse happens, he can directly thank Ohio Sec. of State Jennifer Brunner who may be able to fraud her way into his cabinet.

We re taking action mind you:

The GOP fights Back
Party working on multi-tiered plan The Ohio Republican Party always encourages EVERYONE to register to vote. But, they do not encourage fraudulent activities. The Ohio Republican Party is not taking this full scale assault on the law lightly. We have defensive and offensive options. 1. The Defensive- litigation A lawsuit has been filed with the Ohio Supreme Court to stop the 5 day window. Hopefully the Court will rule our way and close down the window. Then we can go back to the business of campaigning. We are hopeful the Court will rule by Monday. If the Supreme Court does not rule against Brunner in time, we will need to go on the offensive and use the 5 day window to our own advantage. We need to make sure all of our unregistered family and friends are registered and vote this week. We need to drive them ourselves if necessary. 2. The Offensive
The ORP is doing all sorts of things to inform the public about the 5 day window. On your way to church tomorrow, you may hear our new radio ad on Christian Radio stations around the state. We are also doing phone banking and door-to-door. We are also pushing our message via email to everyone we possibly can. Please forward this email to anyone you can think of.

Update: This is getting some fair and balanced coverage. At least people will know.

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VDH: Sarah Biden

October 2, 2008

Great parody from renowned historian, Victor Davis Hanson

Journalists continue to ask, “What was John McCain thinking in selecting the gaffe-prone Gov. Sarah Palin?”

In what has now become a disturbing pattern, the Alaska governor seems either unable or unwilling to avoid embarrassing statements that are often as untrue as they are outrageous. Recently, for example, in an exclusive interview with news anchor Katie Couric, Palin gushed, “When the stock market crashed, Franklin D. Roosevelt got on the television and didn’t just talk about the, you know, princes of greed. He said, ‘Look, here’s what happened.’ ” Apparently the former Alaskan beauty queen failed to realize that in 1929 there was neither widespread television nor was Franklin Roosevelt even President.

Sometimes the Idaho-native Palin seems to confuse and embarrass her own running mate. Shortly after her nomination, she introduced a “John McAmerica;” then she referred to the Republican ticket as the “Palin-McCain administration;” and finished by calling Sen. Obama, “Senator George Obama.” The Palin gaffes seem to be endless: on her way to Washington to meet the national press corps, Palin, the mother of five, once again stumbled — this time characterizing Senator Biden as “Congressman Joe Biden,” who, she chuckled, was “good looking.”

But then Palin only compounded that growing image of shallowness when introducing her own snow-mobiling husband Todd, “as drop-dead gorgeous!” And when asked about the controversial McCain ad suggesting that Barack Obama had introduced explicit sex education classes to pre-teenagers, the Christian fundamentalist Palin scoffed that it was “terrible” and that she would have never had allowed such an unfair clip to run — before retracting that apology under pressure from the now exasperated McCain campaign staff. But then, according to press reports, wild Sarah only made things worse still by announcing that paying higher taxes was the “patriotic” thing for Americans to do.

This week, the gun-owning, moose-hunting Palin also promised blue-collar Virginians that she would protect their firearm rights — even, if need be, from her own running-mate: “I guarantee you, John McCain ain’t taking my shotguns, so don’t buy that malarkey. Don’t buy that malarkey. They’re going to start peddling that to you. I got two. If he tries to fool with my Beretta, he’s got a problem. I like that little over and under, you know? I’m not bad with it. So give me a break. Give me a break.”

Palin may have had some experience in Alaskan politics, but at times the former small-town mayor seems unaware of the pressures of running a national campaign in a diverse society. For example, Palin — who has had past associations with reactionary groups — caused a storm earlier when she characterized Democratic Presidential nominee Barack Obama in seemingly racialist terms: “I mean, you got the first mainstream African-American who is articulate and bright and clean and a nice-looking guy.” Such stereotyping suggested that the Alaskan was not aware of the multiracial nature of American politics — an impression confirmed when in her earlier gubernatorial run, she had once suggested that to enter a donut shop was synonymous with meeting an Indian immigrant.

The recently-elected Governor Palin was further rattled by media scrutiny, when, in a moment of embarrassing candor, she confessed, “Mitt Romney is as qualified or more qualified than I am to be vice president of the United States of America. Quite frankly he might have been a better pick than me.” That confession followed an earlier deer-in-the-headlights moment, when the nearly hysterical Palin urged a wheel-chair bound state legislator to rise: “Sally, stand up, let the people see you!”

The Palin gaffes are no surprise to those who have followed closely her previous races. They cite her aborted governor campaign, when she was forced to pull out after fraudulently claiming that her working-class family had been Idaho coal miners — in an apparent case of plagiarism of British Prime Minister candidate Neal Kinnock’s stump speech. Palin once boasted: “I started thinking as I was coming over here, why is it that Sarah Palin’s the first in his family ever to go to University . . . is it because our fathers and mothers were not bright . . . who worked in the coal mines of Northeast Idaho and would come up after 12 hours and play volleyball?” It did not help Palin that reporters quickly discovered that while as a student at the University at Idaho she had been caught plagiarizing and also misrepresented her undergraduate transcript.

Most recently on the campaign trail, Governor Palin apparently promised a vocal supporter that the United States would certainly not burn coal to produce electricity — even though roughly half of current U.S. power production is coal-fired. The same uncertainty seems to extend to foreign policy. Under cross-examination, Palin appeared confused about her own recent trips abroad, first claiming that her helicopter had “been forced down” in Afghanistan, although other passengers suggested the landing was a routine cautionary measure to avoid a possible snowstorm. Palin likewise had alleged that she was shot at while in Baghdad’s Green Zone, although there was no evidence from her security detail that she had, in fact, come under hostile fire.

The Obama campaign has lost no time in hammering at the former hockey-mom Palin’s foreign-policy judgment, alleging that shortly after September 11 she once suggested sending $200 billion to Iran as a “good will” gesture, and reminding journalists that in repeated interviews, Palin had called for dividing Iraq into three separate nations, despite Iraqi resistance to such outside interference. Palin, the nominal head of the Alaskan National Guard, has also falsely insisted that Chairman of the Joint Chiefs Admiral Mullen had once suggested that we were losing the war in Iraq and that the Bush administration had sent Undersecretary of State William Burns to Teheran to meet with Iranian officials.

In response to Palin’s unbridled misstatements, journalists have coined the term “Palinism” — the serial voicing of sweeping declarations that are either insulting, or untrue — or both. No wonder rumors mount that Sen. McCain is now seeking a possible graceful exit for the gaffe-prone Palin, even as the Obama campaign continues to make the contrast with their own sober and circumspect Joe Biden.

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Homer Simpson for Obama

October 2, 2008

From Hotair

I consider myself an Al Bundy Voter

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Wolf: On the Suspension of Mark to Market

October 2, 2008

Leon H. Wolf of Redstate:

One of the items in the proposed bailout that a number of Republicans seem to be insisting on is either a suspension or outright end to mandatory mark to market accounting rules. It is supposed by many people that this will somehow aid the unfreezing of the credit markets and/or provide liquidity to the market. Count me among those who are not so sanguine about the long-term prospects of suspending MTM; in fact, I suspect that it may make the situation worse.

In the very, very short term, the suspension of MTM may help certain companies who have built in balance sheet triggers in contracts, credit agreements, or corporate charters and/or bylaws to avoid immediate catastrophic consequences. But as a systemic matter, the suspension of MTM would seem to inject more uncertainty into the market, which is frankly the very last thing the market needs right during the middle of a crisis of confidence.

To review, the accounting fiascos of 1999-2002 that brought us mandatory MTM accounting taught us that traditional accounting methods make it easier for a company – through “aggressive” accounting – to appear solvent for much longer than the company actually is solvent. Everyone in the lending world remembers this. To further review, a large part of the genesis of the current crisis is a widespread fear that certain assets are toxic, and that it’s impossible to identify the toxic assets from the good ones. So… I guess we’re supposed to assume that allowing a change of accounting rules which leads the credit markets to believe that companies might be (but no way to tell for sure) faking solvency is a good thing?

If we suspend MTM in the current climate, what exactly is supposed to happen? Will companies hire accountants to come in and hastily rewrite their accounting books? If they do, will any lender actually extend them credit without forcing them to crack open the old MTM books instead? And if they can’t force that, will they lend at all? Like I said, the market will go from widespread uncertainty about certain classes assets to having widespread uncertainty about every company, especially in these uncertain times. I fear that this may make the credit markets freeze even tighter than they are, even if we inject a bunch of liquidity into the system.

 

Interesting take as I have hear mixed things on both sides about mark to market

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Obama’s Singing Kids: The Remix

October 2, 2008

From Reason

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Fudge! A House Bill I Can Actually Support?

October 2, 2008

I just ran across H.R. 7071, introduced September 25, 2008 entitled: To establish a commission to recommend the elimination or realignment of Federal agencies that are duplicative or perform functions that would be more efficient on a non-Federal level, and for other purposes.

I’d repost it in totality, but it is long.  While I have no doubt in my mind that the commission will do absolutely nothing, it is a good start. Realizing that two agencies do the same thing can help reduce the size of government, increase efficiency and get more money back into taxpayer pockets

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Ed Morrissey on Debate Points

October 2, 2008

Ed Morrisey of HotAir

  • Sarah Palin: She has to stay aggressive with both Joe Biden and moderator Gwen Ifill.  She has to attack the assumptions behind the questions, as Ifill will attempt to box her into desired responses.  Biden will damn her with faint praise, being condescending while on the surface seeming courtly.  She needs to push back against that.  Most importantly, she needs to stop worrying about details and speak to themes and concepts, similar to what Barack Obama needed to do in his debate, and mostly failed.  Best attack point: Biden’s pork.
  • Joe Biden: He has a tougher assignment.  He has to give the appearance of jabbing while trying to throw haymakers.  Normally, I’d expect a man with Biden’s experience to attempt to drown Palin with details, but Biden has a habit of inventing those on the fly.  Would Ifill call him on that?  Doubtful, but the post-debate spin could get brutal.  He can’t attack on experience, either, given Obama’s own short record of service, and can’t get by with the Joe Sixpack routine, either.  He’ll want to press his advantage on foreign policy.  Best attack point: Foreign travel. :
  • I agree that attacking the assumptions is a key point. Sarah has been going with the flow as far as the questions that have been thrown her way.  She needs to rephrase the questions to her strengths. Again, 2006 debates dealt with her home territory and she destroyed them.  She can do it again tonight and take back some of those ceded votes.  She needs to speak directly to the Pennsylvania suburbs that can win this for us.  There are people out there who are passionate and we need them if we are going to win this.

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