Both candidates supported the contemptible bailout. Indeed Senator McCain made a special point of supporting a Federal buy up of mortgages so that “people could pay at the new values and stay in their homes”. As the securities which the United States government is buying up are based on mortgages this is at least “logical” I suppose.
However, there were economic policy differences:
Senator Obama told some truly absurd lies, for example he claimed he would cut more spending than he would increase (in reality he would increase Federal government spending by close to a trillion Dollars on top of the various bailouts), and Senator Obama also repeated his lie about cutting taxes for 95% of the population – a lie because he treats welfare payments as ‘tax cuts’.
But I found the differences on health care policy most interesting.
Senator Obama denounced the very idea of buying health cover over State lines – competition is evil and would allow wicked places to attract business by having less regulation “as Delaware does with insurance and credit cards” perhaps Senator Obama should tell Senator Biden how evil the State of Delaware is.
Clearly the chance of competition being allowed to reduced health costs under a President Obama is zero.
Instead there are to be mandates and regulations. given the absurd notion that lack of regulation, rather than credit bubble finance and the government backing of Fannie Mae, Freddie Mac and ACORN, is the source of all of America’s problems… with fines to make small business enterprises give health cover to their employees. Senator Obama refused to say what size these fines on individuals and business enterprises would be.