Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Thursday

Debate No. 1: Change v. Maverick

Jim Lehrer moderated the first 2008 presidential debate, held on September 26. While intended to cover national security and foreign affairs, the U.S. financial crisis weighed heavily during the opening questions. Lehrer's attempt to encourage eye contact during the opening was somewhat futile.

Senator McCain hammered Senator Obama on earmarks and pork barrel spending. Obama chastised McCain's complicity during an orgy of spending under President Bush. "You voted for almost all of his budgets. To stand here and say that after eight years you're going to lead on controlling spending and balancing our tax cuts for middle-class families ... it's kind of hard to swallow."

On foreign policy, McCain cited his reputation as a maverick, particularly when it came to banning torture. McCain touted his many foreign travels and relationship with foreign leaders, and claimed Obama's views on foreign policy to be naive.

Obama challenged McCain's effectiveness. "Over the last eight years, this administration, along with Senator McCain, has been solely focused on Iraq. That has been their priority. That is where all their resources have gone. In the meantime, Osama bin Laden is still out there. He is not captured. He is not killed. Al Qaeda is resurgent."

By 12:22 a.m. on September 27, MTV News published a comprehensive debate report on their website. Spirited commentary ensued.

Culture of Distraction

In 2008, during the weekend of September 13-14, the political media couldn't get enough of Sarah Palin and her "lipstick" joke, "drill, baby, drill" mantra, and sightings of Russia.

Meanwhile, as Hurricane Ike raged through Texas, ominous economic news was leaking - the world's largest financial firms were in trouble. Bank of America was taking over the struggling Merrill Lynch, and another giant, Lehman Brothers, was collapsing.

Barack Obama's campaign, falling in the polls and beset with pleas from supporters to "fight back," tried to rally a New Hampshire crowd: "They've been talking about lipstick, and they've been talking about pigs, and they've been talking about Paris and Brittney," said Mr. Obama. "They will spend any amount of money and use any tactic out there in order to avoid talking about how we're going to move America forward to the future."

Friday

Economic Anxiety

On August 24, 2008, Frank Rich wrote a piece in The New York Times calling on candidate Barack Obama to "rekindle the 'fierce urgency of now'" but not in reference to civil rights or withdrawal of troops from Iraq. Rich urged Obama to move on to "the bigger picture for everyone else" saying "Economic anxiety is the new terrorism."

Four years later, voters are still anxious about the economy and it remains a top campaign issue.