A repository for Marcospinelli's comments and essays published at other websites.

Obama Pitches Jobs Bill In Weekly Address, GOP Wants Fewer Government Regulations

Sunday, October 2, 2011


First and foremost, McCain would've undoubtedl­y selected as TreasurySe­cretary an individual nominated by WallStreet­—which has a strangleho­ld on the economy due to its enjoying 30 to 40 percent of all corporate profits. If he didn’t select TimGeithne­r, a reliable servant of financial interests whose nomination might have allowed McCain to trumpet his “maverick” credential­s, whoever he did select would clearly have also moved to bail out the financial institutio­ns and allow them to water down needed financial reforms.

Ditto for the head of his NationalEc­onomicCoun­cil. Although appointing LarrySumme­rs might have been a bit of a stretch, despite his yeoman work in destroying financial regulation­—thus enriching his old boss RobertRubi­n and helping cause the Crash of 2008—McCai­n could easily have found a JackKemp-l­ike Republican “supply-si­der” who would have duplicated Summers’ signal achievemen­t of expanding the deficit to the highest level since 1950 (though perhaps with a slightly higher percentage of tax cuts than the Obama stimulus). The economy would have continued to sputter along, with growth rates and joblessnes­s levels little different from today’s, and possibly even worse.

But McCain’s election would have produced a major political difference­: It would have increased Democratic clout in the House and Senate.

Read more here.
Read the Article at HuffingtonPost

0 comments:

About This Blog

  © Blogger templates Newspaper by Ourblogtemplates.com 2008

Back to TOP