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Joseph A. Palermo

Joseph A. Palermo

Posted: October 22, 2008 09:51 AM

John McCain's Economic Plan: Laissez-Failure


John McCain is running one of the most divisive, negative, and dishonorable presidential campaigns in modern history. By spreading the Big Lie that Barack Obama is a "terrorist sympathizer" who is not from the "real" America, McCain is fanning the flames of latent racism and xenophobia. He is doing everything in his power to divide and conquer the country. His robo-call smears and his surrogates' McCarthyite attacks against his Democratic opponent are strange ways to put "Country First." McCain wants to be president so badly he will do anything: Adopt the extreme social positions of James Dobson; put Karl Rove's Swift Boaters on the payroll; appoint a Christian Nationalist ditz as his VP to stir up the faithful into a froth; and launch a racially-tinged class war against anyone who thinks the government might be able to do something positive for the working middle class.

Millions of Americans are reeling from record home foreclosures, rising unemployment, and shrinking retirement accounts and John McCain -- who married into a $100 million fortune and doesn't even know how many houses he owns -- is going around the country accusing Obama of being a "socialist" and ridiculing the idea of "spreading the wealth around." He promises to continue the Republican class war of recent years. McCain has shown that his real "base" consists of millionaires, billionaires, and huge corporations. Why else would he be still proposing, even after the epic failure of laissez-faire capitalism, more "trickle down" tax cuts to the wealthiest corporations and individuals along with more deregulation?

And what do you call a wealthy old white man who spends most of his time lying about, sliming, and producing false accusations and innuendo against the first African-American presidential candidate to be nominated by a major political party as well as against ACORN, a community organization that consists largely of low-income people of color?

A McCain administration would be a carbon copy of the Rovian "permanent campaign"; that epic failure Scotty McClellan outlines in What Happened, and the former head of Bush's faith-based programs, John DiIulio, summed up back in 2002: "What you've got is everything -- and I mean everything -- being run by the political arm. It's the reign of the Mayberry Machiavellians." The way McCain and his surrogates dismiss any criticism no matter how legitimate is strikingly similar to the Bush style. And the McCain campaign seems to have struck that perfect balance between incompetence and arrogance that characterized the Bush administration.

In the last year the average American household has shelled out nearly $3,000 in additional living expenses just to break even. Gasoline and home heating oil are far more expensive; health care premiums have increased exponentially (for those lucky enough to have health care); home values have declined steeply (for those lucky enough not to be facing foreclosure); and tuition costs for college have skyrocketed. We are bracing for an economic contraction the likes of which we have not seen since the Great Depression. Poverty, unemployment, and homelessness are going to increase over the next 18 months. (Just ask Fed Chair Ben Bernanke.) And the grand neo-con nation-building experiment in Iraq is draining away $10 billion each month that certainly could be put to better use here at home.

Meanwhile, the $1 trillion government welfare program called the "Wall Street Bail Out" is being squandered on a relative handful of individuals who need it the least. It is an outrage that the nine investment banks that have received $250 billion from the Treasury insist on paying dividends to their shareholders to the tune of $25 billion! Why don't we cut out the middleman and just hand over the $25 billion directly to the fat cats who still own most of the stock in those banks? There are golf junkets and pedicures and prostitutes to be procured! We mustn't deny these innovative people Republicans love so much -- these Wall Street "Joe the Plumbers" -- who pumped up the notional value of "credit default swaps" to $62 trillion the fruits of their labors! They deserve their first-class amenities! To deny them that which is rightfully theirs would be "Socialistic!"

The epic failure of the laissez-faire ("laissez-failure"), "supply side," Milton Friedman, market fundamentalist ideology has only just begun to wreak its damage on American society and the world. Back in 1974, in the wake of Watergate and Richard Nixon's resignation, President Gerald Ford said: "Our national nightmare is over." Today, Bush's Treasury Secretary, Hank Paulson, who was a young assistant to Nixon's indicted hatchet man, John Ehrlichman, should lapse into a rare fit of honesty and tell the American people: "Our national nightmare is just beginning." The contraction is on; there isn't going to be a "soft landing." Send your "thank you" cards and letters to the Republican National Committee.

During the bitter 1988 presidential campaign, George Herbert Walker Bush's smear-meister, Lee Atwater, famously declared that he was going to make voters believe that Willie Horton was Michael Dukakis's running mate. Steve Schmidt, the Karl Rove wannabe, is now trying to make voters believe that Bill Ayres is Obama's running mate.

And this brings me to the freak show that is Governor Sarah Palin.

Sarah Palin is a liar. She lied about being against the infamous "bridge to nowhere"; she lied about her abuse of power in "Troopergate" and her violating the Alaska Ethics in Government Act; she lied about charging per diem expenses to the state of Alaska for time spent at home; and most recently she lied about pilfering over $21,000 from Alaska taxpayers so her kids could go on expensive trips. The RNC forked over $150,000 so this "Jane Sixpack" could go on a lavish spending spree. She spent more money on stylish clothes in a matter of weeks than most families will spend over the course of a lifetime.

Palin is also a racist. According to a waitress who overheard her in a diner in Wasilla when Palin first heard about Obama's victory over Hillary Clinton in the Democratic primaries she exclaimed: "So Sambo beat the bitch!" But one does not have to turn to second-hand reports from waitresses in Wasilla to confirm Palin's racism, her thinly coded jabs at Obama during her pep rallies saying "he is not one of us," and her blather about "pro-America" parts of the country where there are no black people speak for themselves. Even the New York Times' Adam Nagourney, who started out this campaign season writing love letters to McCain, was forced to admit that Palin is disingenuous.

But far more disturbing than Palin's venality and her racism are her extreme Christian Nationalist religious beliefs. Just go to Youtube and see her standing there on stage, trancelike, praying while her pastor at the Wasilla Assembly of God Church talks about how Alaska is going to become a state of refuge for people when Armageddon comes. Palin not only holds the most extreme right-wing Christian views on abortion, gays, and creationism, she apparently believes we are in the Last Days. And she could be a heartbeat away from having her finger on the nuclear trigger. The only reason why McCain's boys, Rick Davis and Steve Schmidt, haven't thrown Reverend Wright in the faces of voters in the closing days of the campaign is because they know that Palin's whack-job pastors, including Pastor Thomas Muthee who specializes in exorcising witches, would immediately flood the airwaves.

And what about John McCain himself? What a Faustian bargain that man has made. He sold his soul, his heart, his liver, his spleen, and his mind. When George W. Bush was riding high so was John McCain. "My Friends" and "Maverick" will be perennial punch lines. He will be forever remembered for running one of the meanest, most discreditable presidential campaigns in American history. He sold out his country by choosing division over unity, lies over truth, jingoism over patriotism. And he did so at a time when the nation faces major peril and the American people are clamoring for thoughtful, steady, and honest leadership.

"Country First." Indeed.

John McCain is running one of the most divisive, negative, and dishonorable presidential campaigns in modern history. By spreading the Big Lie that Barack Obama is a "terrorist sympathizer" who is no...
John McCain is running one of the most divisive, negative, and dishonorable presidential campaigns in modern history. By spreading the Big Lie that Barack Obama is a "terrorist sympathizer" who is no...
 
 
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04:24 PM on 10/24/2008
Man... wow, that like pure GOSPEL!

Amen and Amen.
05:07 PM on 10/22/2008
I think the most troubling aspect of John McCain's campaign is his choice for running mate. Ideally, this close to election day we should all be discussing differences in ideology, foreign policy, and experience. Instead, I can't even get passed the stupidity, ignorance, and lies that spew from Sarah Palin's mouth every time she speaks to the media. The vice president should be someone fit for presidency, not someone who caters to the neo conservatives on everything from abortion to tax cuts for the wealthy. If by some miracle John McCain does pull off a huge come back to win this presidency I will seriously think about moving out of this country, as I can't deal with another 4 years of republican reign.
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Joseph A. Palermo
Author/Historian
03:57 PM on 10/22/2008
Thanks for the great comments. To the person who claims that "free market" solutions have always led to "prosperity" etc., just take a long hard look at Latin America and behold the wholesale rejection of the failed neo-liberal policies that have now failed on an even larger scale in North America. It's time to study the Great Depression, the Savings and Loan bail out, the LTCM bail out, the dot-com bust, the housing bubble, and now the biggest bail out of Wall Street since the 1930s -- throw in the collapse of currencies in Mexico, Thailand, Japan, and elsewhere in the 1990s -- regulations and progressive taxation and, yes, a little "socialism" is the only course to tame the system and bend it to serving human needs instead of the interests of huge corporations and a miniscule global ruling elite. Everybody does well when everybody does well -- remember that!
BrighterStar
Let Freedom Ring
03:22 PM on 10/22/2008
If you look around the world you will see that the more countries embrace free markets the more proserous they are. The more countries look to the government for answers to problems the worse off they are. Socialism has been a faillure every where tried and it will be no different in this country under a president obama.
04:16 PM on 10/22/2008
Too bad you subscribe to the lie that obama is a socialist. Just because McCain, who is wrong just like bush on his economic policies and history only proves this, said so doesnt make it true. Do some real research into Obama's economic plan and you will find no bit of socialism. You will find a plan to help bring the dwindling middle class back to a level that made america such a strong and prosperous nation in the first place.
01:25 PM on 10/22/2008
Outstanding article. This sums it all up
01:14 PM on 10/22/2008
Well most of what you have said have unfourtunatly been circulating the air waves for some time and yet still there are a group of mindless zombies who are going to vote for McCain or are undecided. Luckily the media is doing a minimal amount to smear Palin, thanks to the like of SNL, the daily show, and just her own dumb mouth thats impossible to put a complete muzzle on. However the thing that gets through my skin the absolute most is when you mention bernanke and his one trillion dollar bailout. One trillion dollars! to get this economy slowly moving again and not a single person has been investigated, indicted, or fired. The uk required the CO's of the banks all step down, and their plan is working with a hellova lot less than one trillion dollars. Its been so long since i have seen accountability come from anywhere but my own boss that i cant imagine a polititian getting blamed for anything anymore.
12:58 PM on 10/22/2008
Can't wait to read the books written about this campaign!
12:09 PM on 10/22/2008
What is missing with this post, is mention of what happens if we don't bail out the financial sector. Seems to me, the world goes into a recession. The rest of the world adopts the Euro, and climbs out of the recession. The U.S. tags along, and our financial system rebuilds on a European-led financial system. In other words, we would experience exactly what we're experiencing now, only our recession is going to be a lot longer and a lot deeper than the rest of the world. This logic assumes the rest of the world will tire of the games we're playing with our bail out and move on at some point in the coming months.

Corporate welfare is not tolerated in America. We have to wait out the election and the transition, but by next Spring, when Obama is installed as President, we do, indeed, have an opportunity to express this feeling in quite tangible ways.

First, we impeach the Bush gang. Second, we enact the Obama plan to create jobs. Third, we explain, using really big crayolas, that corporations don't dictate decentralized energy solutions, and don't dictate decentralized telecommunications solutions. It's easy, doesn't take 100 days, and does benefit all of us, not a handful of corporate special interests.

The most amazing stories will be about those Party of Corporate Welfare members that suddenly realize they've been duped for the last eight years.
01:40 PM on 10/22/2008
Awhile back, when I was visiting in Europe, I had the good fortune to meet several of the gentlemen who were setting up the banks for the changeover to the Euro. After talking with them, I certainly agree with what you posted here.
11:44 AM on 10/22/2008
Here here! This could be the greatest article I have read, it completely sums up all of my feelings for the Repubs and the hideous campaign they have attempted to run. I am anxiously awaiting the day when McCain spends his days drinking lemonade on one of his seven front porches, and Palin is remembered only as a trivia question.
10:22 AM on 10/22/2008
Enough is quite enough, which doesn't mean it won't
get worse over the next 2 weeks, much worse perhaps.

If McCain & Palin weren't bad enough, their increasingly
desperate measures to gain the presidency are reason
enough to vote against them both, and for Obama+Biden.

NO VOTES FOR THE REPO MAN & HIS ALASKAN FRIEND.

Not just for this election, think about the NEXT one, put a stop to this stuff.
11:57 AM on 10/22/2008
Wow, Palermo. That's one of the best commentaries I've read. I'm not American and I can't vote so I don't affect the process either way. But that is an excellent, thorough, analytic article. Well done!