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Tuesday, September 30, 2008

Dem Campaign Chatter 9-30-2008

George Wenschhof

Today, Obama is in Reno, Nevada - Biden remains in Wilmington, Delaware.


Obama calls for an increase in FDIC insurance -yesterday, while others were busy pointing fingers and raising fears of Americans after the bailout bill failed passage and the Dow fell in record numbers, Obama said to stay calm and stated a bill would be passed.

He released a statement today saying the FDIC should increase limit of insurance on deposits to $250,000 from the current $100,000. This is a good idea to help gain confidence from individuals and small businesses in the banking system. He also urged Congress to move legislation forward on the economic crisis. has his statement here.


President Bush gives early morning address on the failure of the House to pass the bailout bill - at 8:45 AM ET, Bush addressed the nation and expressed his disappointment that Congress had failed to act. He warned of dire circumstances for many Americans if Congress does not act soon. has more here.

Yesterday's loss of 777.68 was the largest single day ever of the Dow. To put it in perspective, it represented a loss of 1.2 Trillion. Let's see how the market rebounds today. Stay Tuned.


A little perspective on the Bush economy - when President Bush took office in 2001, the national debt was 5.7 Trillion and the Dow was at 10,588. Eight years later, the national debt ceiling was just raised to 11.3 Trillion and the Dow closed yesterday at 10,685.

A national debt that has doubled and a financial market teetering on the edge of collapse will be added to the Bush legacy of a misguided war in Iraq and a failed foreign policy.


Meanwhile, the McCain campaign was busy changing it's response to the failed Bail Out bill - They started out the day yesterday saying it was McCain's efforts that led to the compromise bill that was headed for passage in the House. Oops, the bill didn't pass! So, it was Obama's fault by the middle of the day. Will McCain suspend his campaign again? Stay Tuned.


The McCain campaign continues to dig a deep hole for themselves - after Governor Palin answered a question concerning Pakistan while waiting for her Cheese steak. She answered a voter's question about if the U.S. would go inside Pakistan to go after the Taliban of Al Qaeda and she said of course the U.S. would. You can watch the exchange here.

The only problem? This is the type of US unilateral action McCain criticized Obama for supporting during last Friday's presidential debate. The McCain campaign issued a statement that you should not take serious a comment made to a voter in the middle of ordering a sandwich. Read more here.

Just to make sure voters understood what she meant to say, both McCain and Palin were interviewed yesterday by CBS anchor Katie Couric. You can watch it for yourself here. And, you wonder why Palin was being sheltered from the press?


Attorney General Mukasey appoints Special Prosecutor to probe attorney firings - after a long period of requests that this investigation take place, Connecticut U.S. Attorney Nora Dannehy was appointed special prosecutor. This, after an internal Justice Department report indicated that under former Attorney General Alberto Gonzales, the firings of attorneys may have been the result of partisan politics. has more here. The good news is this is finally happening - the bad news is it will not conclude until way after the election.


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