George Wenschhof
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Today, Obama is in Dayton and Jacksonville, Florida - Biden is in Castlewood, Virginia
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Obama 47.3, McCain 45.3 per RealClearPolitics.com national poll average - from 9-9-2008 to 9-19-2008. Read more here. This shows the McCain momentum achieved immediately after his choice of Sarah Palin for VP has been stopped. The current economic crisis facing the US should also help Obama as McCain has supported the Bush administration and deregulation which is what got the country into this financial mess. Governor Palin will be of no help in reassuring American voters on the economy and that is their number one concern.
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Details of Government Bail Out being hammered out - Reportedly, the White House has sent some of the details to Congressional leadership and a bill will be introduced and voted on this week. In what appears to be the largest government bail out in history, part of the plan provides for the government to buy all the bad debt from banks which theoretically would encourage them to free up new loans. CNN.com has more here.
It is a huge risk, but lawmakers were presented with a doomsday projection by Bernanke and Paulson of a complete market meltdown if they did not accept this plan quickly. This is not the best scenario in which to be making 1 Trillion decisions. The current 9.7 trillion national debt and 450 Billion annual budget deficit is already way past any reasonable limits. Avoiding panic by the American public is important, but do not expect this plan to be a quick fix to the problems the Republican Bush administration has led the country into. Stay Tuned.
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Bank of America CEO Ken Lewis says only 1/2 of existing Banks will survive 5 years - he goes on to say that this will probably be a good thing and the surviving banks will be stronger. McClatchydc.com has more here.
Actually, the problems the banking system is experiencing is due in part, to the many bank absorptions by the larger banks which has lead to a monopoly on the money supply. Helping the financial meltdown along was the continued practice by the Republican Bush administration to deregulate the financial markets. The NY Times has more here.
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Hillary Clinton to step up campaigning as election remains close - she has emailed her supporters, pointing out the urgency and asking that they work to get out the vote. She ends by saying, tell them Hillary sent you. Read more here.
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Pakistan President Zardari addresses Parliament, says Pakistan will not tolerate foreign infringement on it's soil - newly elected Asif Ali Zardari expressed displeasure over the recent US military strikes targeted on the Taliban and Al Qaeda within Pakistan. Former President Musharraf was a ally of the Bush administration and received Billions in military aid from the US. Reuters.com has more here.
This is another one of many foreign policy issues to be addressed by the incoming U.S. administration.
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UN General Assembly to meet in New York next week - Palin to meet foreign leaders for the first time - In an effort to boost what is absolutely zero foreign policy experience, the McCain campaign is busy lining up meetings for Governor Palin to attend. The Washington Post has more here.
The first is with the President of Afghanistan, Hamid Karzai. Karzai is unable to travel freely within his own country due to threat of assassination and is kept constantly under US military protection. The Taliban and Al Qaeda continue to be a presence in Afghanistan and Poppy remains the number one export. It will be interesting to see what Palin has to say after her meeting with President Karzai.
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Today, Obama is in Dayton and Jacksonville, Florida - Biden is in Castlewood, Virginia
--------------------
Obama 47.3, McCain 45.3 per RealClearPolitics.com national poll average - from 9-9-2008 to 9-19-2008. Read more here. This shows the McCain momentum achieved immediately after his choice of Sarah Palin for VP has been stopped. The current economic crisis facing the US should also help Obama as McCain has supported the Bush administration and deregulation which is what got the country into this financial mess. Governor Palin will be of no help in reassuring American voters on the economy and that is their number one concern.
--------------------
Details of Government Bail Out being hammered out - Reportedly, the White House has sent some of the details to Congressional leadership and a bill will be introduced and voted on this week. In what appears to be the largest government bail out in history, part of the plan provides for the government to buy all the bad debt from banks which theoretically would encourage them to free up new loans. CNN.com has more here.
It is a huge risk, but lawmakers were presented with a doomsday projection by Bernanke and Paulson of a complete market meltdown if they did not accept this plan quickly. This is not the best scenario in which to be making 1 Trillion decisions. The current 9.7 trillion national debt and 450 Billion annual budget deficit is already way past any reasonable limits. Avoiding panic by the American public is important, but do not expect this plan to be a quick fix to the problems the Republican Bush administration has led the country into. Stay Tuned.
--------------------
Bank of America CEO Ken Lewis says only 1/2 of existing Banks will survive 5 years - he goes on to say that this will probably be a good thing and the surviving banks will be stronger. McClatchydc.com has more here.
Actually, the problems the banking system is experiencing is due in part, to the many bank absorptions by the larger banks which has lead to a monopoly on the money supply. Helping the financial meltdown along was the continued practice by the Republican Bush administration to deregulate the financial markets. The NY Times has more here.
--------------------
Hillary Clinton to step up campaigning as election remains close - she has emailed her supporters, pointing out the urgency and asking that they work to get out the vote. She ends by saying, tell them Hillary sent you. Read more here.
--------------------
Pakistan President Zardari addresses Parliament, says Pakistan will not tolerate foreign infringement on it's soil - newly elected Asif Ali Zardari expressed displeasure over the recent US military strikes targeted on the Taliban and Al Qaeda within Pakistan. Former President Musharraf was a ally of the Bush administration and received Billions in military aid from the US. Reuters.com has more here.
This is another one of many foreign policy issues to be addressed by the incoming U.S. administration.
--------------------
UN General Assembly to meet in New York next week - Palin to meet foreign leaders for the first time - In an effort to boost what is absolutely zero foreign policy experience, the McCain campaign is busy lining up meetings for Governor Palin to attend. The Washington Post has more here.
The first is with the President of Afghanistan, Hamid Karzai. Karzai is unable to travel freely within his own country due to threat of assassination and is kept constantly under US military protection. The Taliban and Al Qaeda continue to be a presence in Afghanistan and Poppy remains the number one export. It will be interesting to see what Palin has to say after her meeting with President Karzai.
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