The Dark Side Of The Obama White House

First and foremost, McCain would have undoubtedly selected as treasury secretary an individual nominated by Wall Street—which has a stranglehold on the economy due to its enjoying 30 to 40 percent of all corporate profits. If he didn’t select Tim Geithner, 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 National Economic Council. Although appointing Larry Summers might have been a bit of a stretch, despite his yeoman work in destroying financial regulation—thus enriching his old boss Robert Rubin and helping cause the Crash of 2008—McCain could easily have found a Jack Kemp-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. First off, there would have been no tea party, no “don’t raise the debt limit unless we gut the poor,” no “death panel” myth, no “Obama Youth” nonsense. Although there would have been plenty of criticism from the likes of Rush Limbaugh, the fact would have remained that McCain, a Republican, Caucasian war hero would never have excited the tea party animus as did the “Secret-Muslim Kenyan-Born Big-Government Fascist White-Hating Antichrist” Obama. Glenn Beck would have remained a crazed nonentity and been dropped far sooner by Fox News than he was. And Vice President Sarah Palin, despised by both McCain and his tough White House staff, would have been deprived of any real power and likely tightly muzzled against criticizing McCain’s relatively centrist (compared to her positions) policies.

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