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McCain, Obama duel on economic fix-it plans

Tuesday 08th July, 03:24 AM JST

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5 Comments

  • Betzee at 01:00 PM JST - 8th July

    According to Paul Krugman's column today there are four reasons for this lousy economy. One is the soaring cost of raw materials and food, owing to competition from China (which is scouring the globe). Another is the housing slump that is tied into the sub-prime mortgage mess and has caused a downturn in the construction industry, among others. A third is rising energy costs and the fourth, rising health care premiums.

    Indeed, GM now spends more on employee health care than steel. This makes it unattractive to take on new people unless you can hire them part-time, or sans benefits. Managed care was presented as a market-driven aleternative to national health care in the early 1990s. It contained costs for a while but they've shot up again. By sticking with this system of employer-paid health care it makes American exports, now a prospect given the low dollar, uncompetitive vis-a-vis companies based in countries where health care is the government's responsibility. By the same token, it makes out-sourcing more attractive to CEOs looking to trim costs.

    I will be interested in the candidates' proposals on how to fix the system.

  • Betzee at 02:12 PM JST - 8th July

    "Government has grown by 60% in the last eight years. That is simply inexcusable.”

    This is the essential dilemma for conservatves. They want to shrink government yet that requires getting into government. I read it was McCain's marriage to Cindy which made him an Arizonian. That was what 30 years ago? A pretty long time to hold a Senate seat.

    Indeed, as someone observed recently in this vein "Incumbents have a better chance of holding on to power in most democracies than they do in the upper echelons of the Chinese Communist Party."

    http://www.washingtonpost.com/wp-dyn/content/article/2008/06/26/AR2008062603846.html

  • Madverts at 06:56 PM JST - 8th July

    "But who’s to blame"

    Bill Clinton?

  • SuperLib at 12:26 AM JST - 9th July

    Both candidates have shortfalls in their plans. Neither is immune.

  • adaydream at 12:33 AM JST - 9th July

    John McCain, who doesn't understand economics, is going to keep george bush's tax cuts, stay in Iraq and balance the budget in 4 years.

    Oh gawd, I'm about to die laughing.

    He really is going to keep george bush's policies alive another 4 years. And the dum**ss mentality. < :-)

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