Blame Others

Democratic presidential nominee Barack Obama said Monday the upheaval on Wall Street was "the most serious financial crisis since the Great Depression" and blamed it on policies that he said Republican rival John McCain supports.

"This country can't afford another four years of this failed philosophy," Obama said after the shock-wave announcements that financial giant Lehman Brothers was filing for Chapter 11 bankruptcy while titan Merrill Lynch was being bought by Bank of America for about $50 billion.

Obama's statement, issued as he prepared to fly to Colorado to begin a swing through contested Western states, was intended to serve two purposes: to link McCain with the unpopular presidency of George W. Bush and to express sympathy with the anxiety of most Americans who say the economy is issue No. 1 in the election.

"The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren't minding the store," Obama said in a statement. "Eight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans have brought us to the most serious financial crisis since the Great Depression."

"I certainly don't fault Sen. McCain for these problems," Obama said, "but I do fault the economic philosophy he subscribes to."

Well, let's take a peek here.  When tax cuts were put into place, we had record tax revenue.  Now that financial outfits have made poor decisions, Obama wants to blame the policies that he follows?  How are those two intermixed?  If I am given tax breaks for my business, and then I turn around, make more money, and thus, give the government more tax revenue, how are those policies failed if I make a poor business decision that leads to my bankruptcy?

It's simply Obama trying to blame everyone else for a problem that has nothing to do with the policies in place, and the everything to do with the greediness and the lack of preparedness for the future these businesses did.

Stop blaming others Obama.  Remember when you said you wanted to "stick with the issues"?  How about you actually do that instead of trying to place blame where it doesn't belong?

 

Travis

travis@rightwinglunatic.com