10/31/2008 05:12 am ET | Updated May 25, 2011

It's the Economy, Stupid!

During this election season, we have watched and heard moods change, trials and tribulations arise, political tricks performed, American Idol-style vice presidential candidate selections, race and gender issues circumvented, ministerial militancy, war stories recounted and much, much more.

And that's fine, but now, ladies and gentlemen, we must get down to brass tactics. The real deal.

It's all about the economy.

America is in an economic bind. Billionaire Warren Buffet says we are confronting a momentous financial disintegration that would be far worse than The Great Depression. He told congressional negotiators, "... if they can't agree on a proposed financial bailout, the nation will face its biggest financial meltdown in American history."

This is as serious as it gets. The capitalist system is on the brink of collapse. President Bush, in his last address before the election, read the teleprompter and looked like he was in an absolute daze.

The presidential candidates, Obama and McCain, must address the economy. The fun and games are over. In the first presidential debate, McCain constantly referred to Obama as inexperienced and proposed that he didn't understand, when all the while it was McCain who appeared not to understand this brand new world in which we live. However, his act of intimidation and mind games did not work. Obama was regal, presidential and most of all, he gave us solutions and the right answers. The basic difference in the debate on the economic question was that McCain spoke for the failed Republican Party; he spoke for the rich. Conversely, Obama spoke for America's middle class; he spoke for the average American who, at this moment, is concerned about his job, home, education and savings.

"What do we do and where do we go?" is the question on America's mind.

The polls show that Barack won. Who did the best job tonight? Fifty-one percent said Barack and 38 percent said McCain. Who would better handle Iraq? Fifty-two percent said Barack and 47 percent said McCain. Who would better handle the economy? Fifty-eight percent said Barack and 37 percent said McCain.

The campaign is now facing the real issues, and the leaders are showing real judgment and position as we consider these issues, which is where the campaign should be. We will now see the difference of leadership styles as we listen to the candidates' tales and plans.

I wonder if the Republicans, the White House and the Bush clan are playing politics with the American public.

The timing of the economic collapse is coincidental. This problem has been brewing and is not a yesterday forthcoming. If insight means anything, young Senator Barack Obama wrote a letter to the powers-that-be addressing the financial crisis. He suggested it needed immediate attention and addressing. It appears that the banking rules were relaxed too much, and that greed was allowed to dominate the financial community. Is the collapse at the end of Bush's term so that his administration's consequences are minimized? Is the coincidence contrived to positively impact a McCain win? Can the people who created the problem be the ones who solve it? With the war and the economy in question, the Bush Administration will assuredly go down in history as one of the worst presidencies in American history.

He came into office with a surplus from Democrat Bill Clinton and he leaves office with bankruptcy looming. What a difference eight years make. This economic fact of the White House is enough reason to vote for Barack Obama, so that the Democrats can put the country back on track.

As we consider the bailout of the large financial corporations and the auto industry to save the country, it supports the old adage that the "rich get richer."

It sends a message that the larger companies can fail and receive government support in some shape or form. They are just too colossal to fall because they get a sophisticated form of welfare. But what happens to the mid- and small-sized businesses? Where is that bailout? Can a company be too small to fall? Where is their fix-it plan? Where is that trickle down business welfare? What happens to the small- and mid-sized businesses that are auxiliaries to larger companies?

If America is going to get into the bailout business, it should be for businesses across the board.

Since someone made a bad decision and the industry changed, then bailout should be an option for everyone so that employees of all companies can keep their jobs and company doors open. The hardest job in America right now is being an entrepreneur. You must: try to stay with the flow of it all, tighten your belt, stay clear of the big boys, watch the new trends, keep the doors open, and make payroll.

No matter who the next president is, what the American people can expect is a big increase in taxes. We cannot afford both war and business welfare at the same time. We need to increase our revenue as we save the world and miss ourselves. Let the Iraqis battle it out. Saving American homes and jobs should be the priority. It has never been more serious, and whereas we are in the midst of an election, it is not time for political games. It is frightening to know that Bush is at the helm of all of this, as he has demonstrated total ineptness.

So much for the "C" student ruling the world.

At a time of crisis, intelligent rule and leadership are crucial for the masses and the world's economy. I am praying that level heads prevail, to save our country and our economy.

We all have a critical stake in seeing that the right decisions are made and new leadership is chosen.