Igorsky

The Economics of Political Spin

Correction to my above blog on Bush...

"He did NOT understand the consequences of a lot of bills that got to his desk so he signed them all

The Economics of Political Spin

Please allow me to set some things straight here.

Reagan/Bush 1 passed on a big deficit to Cinton, but for a very good reason. It was needed to bring down the Soviet empire. An excellent return on investment indeed. This in turn (now with the world at peace) allowed Clinton to bring down the deficit.

Then, Clinton's administration, in it's ineptness, did not recognize the threat from Al-Queda and missed many opportunities to get rid of the group. Because of this we had 9/11 and Bush 2 had to address our vulnerabilities. This cost a lot of money, billions of deficit money, for it does not increase nor produce any products -- mostly just security services.

Bush further expanded the deficit by going into Iraq without understanding the consequences of conquering a country. He compounded this with his policy of getting as many people to own a house. These two actions is responsible for much of the financial problems we find ourselves in. Yes he has an MBA, but remember, he got it by just getting by. Intellectually, he is a light weight - incapable of thinking through a subject. Hence, on the two ventures, he did not have a plan after conquering Iraq, and he did not add to his expanding housing ownership policy that only people who had sufficient income should be given a loan. He did understand the consequences of a lot of bills that got to his desk so he signed them all....until the stem cell issue, his first veto that had little economic impact. Most of what he signed had big economic impact one of which is the limited milage improvement on CAFE standards .... hence, we are now in trouble with the high gas prices. He (including many Republicans) could not understand the science of Global Warming, hence did not push really hard on nuclear energy.

On McCain. He is doing the minimum to what he needs to do to get elected without compromising his philosophy too much. Once in office, he can pretty much be the maverick he is.by nature. Lately, he has shown that when he sees a problem, he will address it quickly. He has started advocating for building 45 nuclear plants but should he become President he will be calling for 100 or more. In contrast, Obama wants to solve the waste problem first as if it will take only a year or two to solve it (solutions will take a little longer to be proven and accepted), or he is really against it but does not want to say it.

McCain will be working hard to accomplish is goals in 4 years. He is not saying it for he does not want to become a lameduck President. He will get serious election reform passed, get rid of earmarks and work hard on lowering the deficit to balance the budget. He will set an energy policy for the country.