Aug. 26 2008
The Denver Dems Aren’t Making the Sale
National Review: A Close Race And Unanswered Questions Put The Pressure On Obama
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Democratic presidential candidate Sen. Barack Obama, D-Ill. talks at a rally at American Airlines Overhaul Base hanger at Kansas City International Airport in Kansas City, Mo., Tuesday, Aug. 26, 2008. (AP Photo/Alex Brandon)
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There is no Biden bounce according to the latest Gallup tracking poll, as John McCain actually is taking a 46-44 lead over Barack Obama. Scott Rasmussen reports a 46-46 tie after the Democratic National Convention’s first night, which reverses a 3 percentage point Obama lead.
Meanwhile, another Gallup poll says 50 percent expect their taxes to be raised under Obama, despite the complaints of his economic advisors that they’re only raising taxes on the top few percent.
Make no mistake about it: There are many doubts and unanswered questions about the Illinois senator regarding his experience, his foreign policy, his economics, and his prior political and spiritual relationships. And despite some good moments last night, I don’t think Michelle Obama made the sale. At the end, only her husband can do it. Hillary can’t do it. If the badly split Democrats can be united at this late date, only Obama can do the job. No one else.
Reagan united a split GOP in 1980. George W. Bush united the McCain, Forbes, and cultural-conservative factions in 2000. Goldwater couldn’t do it in ’64. Neither could Humphrey in ’68. Of course, Jerry Ford couldn’t do it in ’76. And Carter failed dismally in 1980. But Bill Clinton succeeded in 1992.
Now it’s Obama’s task in 2008. That’s his job. No one else can do it for him.
And as the stock market looks on warily, falling slightly today after plunging yesterday, the lead story in this morning’s Wall Street Journal is a serious indictment of Obama’s economic program. “Senator Obama is proposing to use the government to remake economic policies in a way that hasn’t been seen in Washington in decades.” And if it’s a three-house Dem sweep, it will be Katy bar the door. Big-government spending programs, tax increases, trade restraints, a government health-care plan, cap-and-trade on climate change - all without any real deficit restraints, which are accorded a low priority.
Incidentally, while the public clamors for drill, drill, drill, Obama wants high-cost, cap-and-trade carbon regulation enforced by the Environmental Protection Agency. Now, McCain also wants cap-and-trade, but not if India and China don’t go along. Apparently Obama will not be constrained by the rest of the world.
Sure, the economy is languishing. But do we really want a big-government, high-tax solution? Do we really want higher investment taxes that would leave government bigger and private enterprise smaller? Do Americans really blame “rich” people? Or do they actually believe success is a good thing and should not be punished? Do rank-and-file working folks really want to do away with the secret ballot for unionization in the form of the so-called card check? And if there were a three-house Dem sweep, wouldn’t Obama’s middle-class tax credit be overturned in favor of even more government spending, just as Bill Clinton’s plans were subverted back in 1993? The National Taxpayers Union says Obama’s new spending would total $344 billion. That’s a big number. One has to wonder if that’s the opening bid or the final one.
The Obama economists sincerely believe that theirs is a growth program. His advisors are friends of mine - all of them terribly smart: Jason Furman, Austan Goolsbee, Robert Reich, Jarrod Bernstein. So this is surely not personal on my part. But I question their economic model. Raising marginal tax rates will minimize - not maximize - economic growth and jobs. Ditto for enlarging the size, scope, and sweep of government.
Business cycles come and go. Each has its own set of excesses and subsequent corrections. It is the nature of free-market capitalism. But heavy-handed government solutions are being rejected worldwide, and it seems foolhardy for the USA to move away from economic freedom when virtually the rest of the world is moving toward it.
One of the greatest tax reformers of all time was John F. Kennedy. He slashed marginal tax rates across the board for businesses and people of all income levels. The economy boomed in the 1960s. Reagan copied the JFK model in the 1980s. Are we turning back this supply-side model? I fear the Obama men are doing just that. I think that fear is worrying the stock market right now.
John McCain’s economic program is certainly not flawless. And his ad bashing business, oil, and others nearly reaches the class-warfare level of Obama-Biden. It’s a Big Mac mistake. Nor does McCain have a solid tax-cutting program for the middle class. More on all that later.
But as the Democrats discuss the economy tonight, I’m willing to bet they are not gonna make the sale. Obama’s task Thursday night will be a monumental challenge.
By Larry Kudlow
Reprinted with permission from National Review Online.




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See all 105 CommentsI would be deeply, deeply suspicious if Kudlow had ANY ''common-cause'' in the Obama campaign, the Democratic agenda, or anything on the left.
He''s a committed neocon, never saw a gov''t debt he didn''t want to double, never saw a MidEast country he didn''t want to invade.
Getting anything close to a unbiased reportage from this person is like wishing for the tooth-fairy. He''s one of those whose sold America out to the Chinese and Arabs.
I would be deeply, deeply suspicious if Kudlow had ANY ''common-cause'' in the Obama campaign, the Democratic agenda, or anything on the left.
He''s a committed neocon, never saw a gov''t debt he didn''t want to double, never saw a MidEast country he didn''t want to invade.
Getting anything close to a unbiased reportage from this person is like wishing for the tooth-fairy. He''s one of those whose sold America out to the Chinese and Arabs.
Yes we are. Kennedy was right to cut taxes on the rich, because their taxes were overbearing at a time of national prosperity: they had gone too far into ''punishment'' of the rich, and needed to be scaled back.
Reagans action was a knife into the backs of the poor, by contrast. He slashed taxes on the well-to-do, leaving the nations coffers bankrupt. They''ve been bankrupt ever since. Honestly, Kudlow, staring at a $10 trillion debt, what kind of blinders must you have on to suggest we NOT turn away from supply-side economics? At this point, supply-side economics is just a shell-game in which you temporarily stimulate YOUR economy by rolling your taxes onto the backs of your children. Its, basically, unethical.
This doesn''t mean there''s no place for the Republican party to go. Americans would vote for a party of small government, IF THERE WAS ONE. The Republicans of the last 30 years have cut taxes but refused to cut spending to make up the losses, and the result is the deeply unethical prospect of them charging their lifestyles to their children and grandchildren. I could never vote along with such a group of people who could do that. They aren''t even American, in my book.
He''''s a committed neocon, never saw a gov''''t debt he didn''''t want to double, never saw a MidEast country he didn''''t want to invade.
Getting anything close to a unbiased reportage from this person is like wishing for the tooth-fairy. He''''s one of those whose sold America out to the Chinese and Arabs. "--Posted by ubrew12
As if NRO ever would publish an unbiased article in the first place.
It''s just a mouthpiece for the Neocon Bushites, and stuff just pours out of it like sheeyit out of an a$$hole.
Hey, CBS, it''s good to support contrasting views. It''s bad to support death, destruction and greed. Get smart. Get rid of NRO.
Because the media do not cover facts, instead they repeat McCain''s lies. There has been almost no sign of professional journalistic ethics.
Whoever is elected President will be expected to work magic on a disastrous economy.
Because the media do not cover facts, instead they repeat McCain''s lies. There has been almost no sign of professional journalistic ethics.
Whoever is elected President will be expected to work magic on a disastrous economy.
NRO is purely an *** rag.
I''m tired of Obama supporters making these blanket statements about McCain being elite and a liar. Who has ever thought of McCain as elite? Seriously. Obama made over $4 million last year. Doesn''t that make him elite?
And what are the lies exactly? I''m sure I can match every lie with one from Obama.
You use the term "rich elite". I was wondering how much money someone has to have to be considered the "rich elite". Can you let me know?
Make sure you take a look at who you support. Obama and Biden are not exactly poor. In fact I believe that most of the country would trade their bank accounts for those of Biden or Obama.
How many times in your adult life has an American presidential candidate promised you these wonderful tax breaks? And every time they get in office, your taxes are in fact RAISED! And how many times has the tax base ever changed? NONE! And how many times has the wealth been re-distributed in some pinko commie plan? NONE!
You people have been bought and sold by pinko commie propaganda screeching hate your country, it''s bad, it''s wrong, you''re being screwed, your country is EVIL! And in your rather muddled mind you expect the world to respect your country, when you don''t! You''ve become a bunch of weenies with no balls, no pride, and no individual successes because you''re too lazy to make your own economy and make it work for you!
The post convention bounce, if there is one, is AFTER the convention! NOT AFTER ONE NIGHT OR TWO NIGHTS!
But, I guess we shouldn''t be surprised that the reporters at the National Review don''t KNOW THAT---as we often see, in the form of their articles, that they simply do NOT know what they''re talking ABOUT!
At least wait until after the convention until you publish your PARTISAN attack B.S. story, boys!
The polls I don''t get. mccain basically is offering four more years, at least, like the last eight we''ve already suffered through and I don''t know anyone who wants that.
Bye Bye A Holes
If McCain is elected, he won''t sign any tax legislation passed by a Democratic Congress. As a result, the 2001 tax cuts will expire, and the rates will roll back to what they were in 1996. A huge tax increase across the board!
A vote for Obama=a small tax increase on the top 5%.
A vote for McCain=a large tax increase for everybody!
I just wonder if it gets embarrassing for the NRO to keep defending war and death and the fascists in the Grand Oil Party. Support stem cell research so we can grow the people at the NRO and GOP brains.
CORepublican
Actually co can take criticism, can rationally discourse with someone. can talk about pros and cons of rational ideas. but do get kinda annoyed at neocons that YELL AT ME ALL THE TIME thinking that is any way to convince anyone of anything other than you are a blithering idiot.
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The main event of the Dem Convention, Hillary''s speech, is now over. The remaining bureaucratic/administrative minutia are best ignored by all Americans that believe in democracy.
Just as the clear winner of the popular vote in 2000 was Al Gore, the clear winner of the popular vote in the Dem primaries was Hillary. Just as Gore was denied his rightful victory by manipulations and un-democratic procedure, so too was Hillary gored.
Time has not healed the result of the 2000 debacle. In fact, the thief of that election is now regarded as the WORST ever by the overwhelming majority of Americans and people of the entire world. The same will occur with the Dem primaries of 2007/2008. History will eventually label "sweetie" hussein, and his equally unethical side-kick Plagiarist-Joe, as the WORST - regardless of what happens subsequently in 2008 and beyond.
Americans do not like cheaters. The stench of his action in hijacking the nomination is permanently attached to hussein. Plagiarist-Joe should steal a word other than "clean" to describe him.
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That the NRO-GOP *** would write such an "article" denouncing the Democratic convention.
Do we really want more unemployment, more debt, more foreclosures, more wars and more of our money going to Exxon and Chevron. Vote Obama and Dems. Vote the fascist GOP out.
Posted by NaVVet2
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You are so RIGHT. I spent 27 years in service, Korea and Viet Nam and I get sick of reading all these liberals that think they know everything. Some of the dumbest people I know are Harvard grads and liberals.
They all should serve some time in service and in some of the other countries and I think their attitude would be different.
Posted by noloyalisti
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I''m sure glad most people in this country are not as intelligent as you. If they were this country would be up the creek. Your type is the kind that will destroy this country.
What are you talking about? Look what Bush and the Republicans have done to this country! What do the Republicans have to do for you to not support them? Punch you in the face? Bring the country to total collapse? Send the last job to China? Borrow the last dollar from the Chinese?
What is wrong with this country that 50% of the people would actually consider voting for McCain? Insane.
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It''s going to be fun tonight! Here''s the game: see how many people you can identify whose words are stolen by Plagiarist-Joe and used in his speech - without attribution. If you get:
0-10 right = you are an ignoramus who would vote for anybody, including a liar and plagiarist
11-100 right = you are not a totally brain-dead democrat, and there might be hope for you
101-1000 right = you actually seem to have some discernment and ethics and probably did not cheat on your law school exam
1001+ = you are a winner! you are clearly too smart for the hope-change, change-hope, hopeable-change, changeable-hope BS and will vote for somebody other than sweetie hussein.
Good luck!
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I am going to handwrite my name in on the ballot and then I will have the same chance of winning the presidency as Chuck Baldwin. In fact, when I win I will make him my VP.
Thank you for your service. With all due respect, what did all the experience that Bush had do for this country over the last 8 years? Are you happy with this idiot in charge? How many people in the service did he get killed for nothing? Bush went from a surplus to a $9 trill debt financed by China. How great does that make you feel as an American?
McCain has been in power for over 30 years. He was there at Bush''s side through it all. Doesn''t McCain deserve the blame (or if you prefer credit) for what has happened?
If you are a fiscal conservative, a believer in smaller government and not larger - then those 2 reasons alone should have you quitting the Republican party. The dems are more fiscally conservative and smaller government than George Bush has ever been. This is not an opinion but fact.
Obama is not perfect and not my first choice. But compared to McCain he is the only option.
All the righties can do is character assassinate because they are out of material. Their Grand Oil Party has allowed fascism to take hold and all they sell is war and death and higher taxes for my kids. In short look around and see what has happened the last 8 years. And 50% of the country want more of the McSame. No one is that stupid.
I look back at the Bush Presidency and can''t help but feel that we would have been better of with no President at all. McCain gives me the same feeling and to a lesser degree, so does Obama.
kennedy7955: I beg to differ. Obama will spend in such a way it will make Bush look good? McCain is catching a lot of flack for his votes against nobel projects that were financially irresponsible. Remember, Obama gave the Tax breaks to big oil. McCain voted against them. These guys will shift all over the place but when the dust settles and one wins he will revert to his true colors. McCain is a fiscal conservative at heart and will fight to balance the budget. He won''t be able to, but he will try. I wish I could tell you what Obama was going to do other than spend, But he is to wish washy to pin down. I think it will soon be official that he has covered every possible position from not drilling to drilling from no flag pin to every Democrat has a flag pin. I almost expect him to flip flop from a Democrat to a Republican some time soon.
Posted by kennedy7955 at 05:52 PM : Aug 27, 2008
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get your facts straight, there was no surplus. From the US Treasurey website:
Fiscal Year - 2000
Year Ending - 09/29/2000
National Debt - $5.67418 trillion
Deficit - $17.91 billion
Let us agree that using past history as an indicator and not assumptions is the best way to forecast how either of the candidates would perform.
So let us compare Clinton with Bush. Who spent more? Who increased the size of the government more? Who was overall more fiscally conservative? Which of these 2 parties was more fiscally responsible?
The Republican party of smaller government, lower taxes and smaller government is a fallacy, a complete an utter lie. It was under Bush, under Reagan and certainly will be if McCain become President. It is time for you to leave the Republicans as I did 4 years ago and see the truth.
Posted by kennedy7955 at 05:52 PM : Aug 27, 2008
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get your facts straight, there was no surplus. From the US Treasurey website:
Fiscal Year - 2000
Year Ending - 09/29/2000
National Debt - $5.67418 trillion
Deficit - $17.91 billion
Posted by Xyno
Dear Xyno, you are right and wrong. The actual debt of the country is likely as you have stated. The account current, the amount the government was spending vs. what it was taking in, was a surplus of over $1 trill in the last year of the Clinton presidency.
That doesn''t mean the "national credit card" was paid off - but for the first time in 45 years our country had a budget surplus.
Nice try.
I hate abortion and I do not need religion to feel this way. But the fact is that abortion has been around since the beginning of time. To go back to a time where women had abortions in back alleys and in 3rd world countries is senseless. You can make abortion illegal but it will not go away.
Prohibition did not stop alcohol consumption. Laws right now do little to nothing to stop illegal (and legal) drugs from being used and abused. Laws against speeding don''t stop speeding, and laws against gambling don''t stop illegal gambling. The clamor for the overthrow of Roe vs. Wade would not solve this problem either.
The only answer is education and support for these pregnant women. All you religious nuts should be sending piles of money for education, prevention and support of mothers and children faced with poverty. But all I ever hear from the religious is to change the law.
The truth lies somewhere in the middle. The problem is neither side wants to give an inch, for political reasons. First is the "slippery slope" argument: To compromise means to leave yourself open for more compromise. Second, to compromise means to admit that some of your cherished dogma will have to be abandoned, and that your opponent is at least partly right. Third, to compromise means having one fewer enemy to bash and vilify, thus one fewer way to galvanize your base.
So the conflict goes on and on, because nobody really wants a solution.
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