Monday, July 05, 2010
A reminder that we dodge a bullet when McCain lost
Speaker Nancy Pelosi even enlisted Mark Zandi — a former economic adviser toRepublican John McCain’s presidential campaign — to make the case to her caucus for more spending. Zandi’s warning Tuesday: boost aid to the states or risk a “double-dip” recession — which House Democrats clearly understood could cross-check their chances of retaining the majority in November. [Emphasis added.]
It has always been my belief that the deflationary depression we are in cannot be stopped, only mitigated. Like Japan, Obama seeks to borrow for the future to prop up the economy now spreading the pain out of years rather than tearing off the band aid. The quote above is just a reminder that the McCain administration would have tried the same tactic and it would have been a huge disaster for the Republicans because they would not have gotten the favorable media coverage that liberals enjoy.
Imagine constant heartbreaking stories about people whose dreams are shattered by prolonged unemployment and the heartless, old, clueless John McCain.
Labels: John McCain