McCain vs Obama - my thoughts on the debate

So I went over the details of the entire debate a couple of times and I want to share my observations.

First of all we start with Senator Obama and the first question of what is going on with the bailout of the mortgage crisis. The initial thought that Senator Obama brings to fore is the separation of Wall Street and Main Street. That concept in itself is dumb. Millions of regular people are as much a part of the stock market as the corporations on the market. The 401k’s, mutual funds, and investments held by individual investors are as critical to the market as any other group. What affects one, affects the other.

But in making the distinction as he does he infers that the stock market is a matter of a class war. This thinking is the backbone of many of the financial proposals made by most Democrats, and Obama. But to view the economy or stock market in such a manner is to view it as if it were in a vacuum, that anything affecting one has no bearing on the other. That presumption is both a lie and idiotic.

He goes on to discuss oversight of the bailout funds. Currently Democrats that are most in favor of a fast tracked deal are the very people responsible for failing to identify the problem. That is Barney Frank and Chris Dodd directly. Having them continuing to be in charge is a joke if it were not for the damage they have allowed to occur.

As for getting the money back, the proposal that was rejected Friday is again of interest. House Speaker Nancy Pelosi, Frank, Dodd, and Harry Reid loved the deal. Senator Obama was willing to back it as well. Republicans were not. Because instead of giving the money back to the public they instead had a provision in the deal that would take the money and put it into ACORN. An organization that is currently under federal investigation for mismanagement of federal money and a pet project of Democrats.

But in the 3rd point I think everyone can agree. There is no reason why a CEO who has damaged a corporation deserves to benefit to any extreme point. That does not mean they are not entitled to a retirement package, but to reward them with tens of millions of dollars for weakening a company is dumb. If the company makes money, thus ensuring jobs and increased value to shareholders (which means you the public ultimately) then I can see a bonus. But without that success paying enormous sums of money is just wasteful.

Homeowners that failed to read the contracts they entered into do not merit help. Their rash actions do not necessitate contributions from my pocket. That may sound harsh, but as a homeowner who did read my mortgage documents, got a fixed rate loan, and ensured I could afford the home I own with room to spare I have little pity. In necessitating me to give up my money they are in fact placing a second mortgage into my finances, one that I receive no reward for paying. That is a bad plan indeed.

And for all the concern of Senator Obama for the middle class he fails to mention that he has voted to increase the taxes of those making $31,850 or more in March 2008.

As for the McCain view on this same question, it is not enough that politicians are working together. They should work together more often, in fact as a norm. The fact that politics are so partisan in general is a problem that helped to create and magnify this problem. But if politicians fail to think about what they have done, or the plan by which they promise us a resolution, the mere fact they joined hands in the failure is small consolation.

But another problem I must note with Senator Obama is the fact that he loves to look backwards on issues that are in America’s present. He look backward on Iraq – seeking who to blame, he looks backward on the bailout as well. What he said 2 years ago is as important as what McCain said 3 years ago, or the bill that McCain tried to pass to change the regulation of Fannie Mae and Freddie Mac (which Democrats voted down and Republicans gave up on).

And if any politician was so brilliant as to have seen this problem a year ago, where were they when Barney Frank was telling the public everything was ok in July? Or Paulson said they had things under control in February?

And as for Republican spending under President Bush, it has been atrocious. And I don’t mean the earmark spending which has been bad enough. $18 billion is insane, but that hardly is the same as the hundreds of billions that are being wasted in every department of the Government.

Still in a down turning economy adding new spending is a dumb idea as well. Obviously adding these new sources of spending can’t happen when we have already spent that money on the bailout. And both candidates need to be honest enough to mention that either taxes will be increased because of this or that social entitlement programs will be cut, or both.

And if anyone thinks that raising business taxes will not affect workers they are insane.

Also, everyone needs to keep in mind what Obama keeps rewording. 95% will receive a pay cut from Obama’s plans. But what he drives at is avoiding anyone hearing the part that is important. 95% that receive a paycheck. That means business owners of all sizes will pay more in taxes – separate of the increase in taxes from the bailout.

But let’s focus on the issues the debate was really supposed to be about. Foreign policy.

The big question is Iraq. We know Obama was always against the war, and he never lets us forget his position in the past. And McCain was for it, as was nearly every Democrat and Republican at the time. Including Senator Hillary Clinton, who insisted Congress vote in favor of the war.

But the fact is we are in 2 wars today and when the next President takes office. Not wanting to be there has nothing to do with where we are now. I don’t want to have to bailout the banks for the mortgage crisis, but that doesn’t change the fact that we are about to anyway. The question is what are we going to do going forward?

Is running away a good plan? According to McCain it is not. Iran is a big part of that reason. And there is no one that can convince anyone in the world that Iran is not in favor of America being destroyed.

The surge has worked. Even Obama has admitted that. But he still refuses to accept the consequences of that, or the need to finish the job. By refusing to accept the new conditions, which he barely saw in a day during his recent run through the nation, he fails to see how to make America safer in the future.

But McCain must also accept that the cost of the war is outrageous. We need to get Iraq to do more, and pay for their share of the work being done. Especially since we know they have the money to do so.

By the way, the series of items that Obama quotes as things that McCain said is incorrect. Those were the claims of the Bush Administration. And McCain is wrong about Obama’s oversight of Afghanistan. Not that either man has really done any work they were elected to do, other than McCain working on the bailout. And in hearing Obama’s comment about tactics and strategies, I agree he has no idea what the difference is. Of course that may partially be because he has not been in Iraq 1/3 as much as McCain has.

And I want to ask a simple question. If you are in a bar fight, it doesn’t matter who started the fight, and you look at your watch and say “I’ll stop fighting in 5 minutes.” You keep fighting for 5 minutes, then step away, turn your back and walk off. What do you believe will happen next? What are the odds that you will get a barstool smacked against your head? And how is this different than declaring a timetable in a war?

It is interesting how close both candidates are on Pakistan. Though the means by which they want to enact their actions in that nation, and the terrorists hiding there, differ to a degree. Again, as with many of Obama’s policies, we see the junior Senator telegraphing his intentions.

I have to mention though that neither man mentioned Darfur. They speak about Bosnia, and Georgia, Pakistan and Iraq. They cover all the media popular and pundit laden hotspots around the world. But when it comes to a genocide that has been ongoing for the past 4 years, they seem satisfied to continue the same see no evil policy the Government has maintained from the start of fighting. America should do more.

Thank goodness each candidate agrees that Iran is a threat to stability and U.S. safety. This is a bit of a reversal for Senator Obama. His comments during the Primaries and just after Senator Clinton gave up were of a very different tone.

And his continued instance on speaking to Iran reflects that early position. Though what he claims about Mr. Henry Kissinger backing up his views is an outright lie. Or as politicians like to say, he misunderstood or misspoke. As is the thought that we are not currently speaking with Iran, which we are doing currently on low levels. And following Obama’s wishes we would empower Iran and other similar nations.

Of course I would feel better about many of Senator Obama’s positions if he was more consistent. Like his comments about Georgia and Russia. From his initial flubs about UN action – which Russia can veto – to his eventual adoption of the McCain response on the first day. It’s just more examples of inexperience in this arena.

Lastly, we all realize that another 9/11 style attack is not only possible, but likely. Nothing can prevent such acts forever. Every major city in the world has had to deal with these events, and the best any country can do is delay an event and minimize the effects.

I also find it interesting how Senator Obama is so focused on the image America has in the world. Since the 1960’s I believe America has been seen as a superpower, free and rich. And it is those things that have prompted the determined hatred of America for 40 years and counting.

Overall I think both candidates made interesting points. Each identified things that are important to Americans. Each highlighted weaknesses and failures in the other. But if we are to draw a conclusion for the entire debate it would have to be that experience in foreign policy, while under war at the least, is critical for America.

I think McCain won the debate. Not in a landslide but that is not important. Because the point is not how stunning a President we have, but how effective they are.