
Sept. 18, 2008
Fiorina Defends McCain On The Economy
Political Players: Campaign Adviser Talks About Sarah Palin's Appeal, Says McCain Has Parted With Bush On Many Issues
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Palin And The Female Vote
Bob Schieffer talks with Senior Advisor for the McCain campaign Carly Fiorina on the GOP VP nomination of Sarah Palin and how Hillary Clinton's supporters might receive her.
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McCain Economic Adviser Carly Fiorina (CBS)
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Timeline
Paper Jam At HP
Track events in corporate spying scandal at computer and printer giant Hewlett-Packard.
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Palin's Path
A look at Alaska Gov. Sarah Palin's life and career
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McCain's Quest
Mileposts in the Arizona senator's race for the GOP nomination and the presidency.
• McCain Adviser Carly Fiorina
• Ex-Clinton Adviser Mark Penn
• Southern Baptist Convention's Richard Land
• Rep. Debbie Wasserman Schultz
CBSNews.com: This week, we've seen almost unprecedented turmoil on Wall Street and watched Lehman and Merrill disappear before our eyes. Your candidates--Senator McCain and Governor Palin--have both talked about better regulating Wall Street, replacing a patchwork of regulations with a better system. What does that involve, specifically?
Carly Fiorina: McCain has been saying for some time that Fannie and Freddie were an accident waiting to happen, that we had insufficient oversight from Washington on Wall Street as the subprime crisis continued to unfold. So, first, it means that we have to require a heightened level of transparency and accountability by Wall Street firms.
A lot of this problem was caused by a set of very complex financial instruments that were based on an assumption, that housing prices could only rise. That's clearly a bad assumption. There was insufficient transparency around the risk of that. They didn't have sufficient capital.
So, it's not simply pulling together the patchwork of ineffective regulatory agencies that exists today in Washington--which it certainly requires. But it's also then saying, in a more streamlined and effective regulatory regime, we're going to demand transparency of Wall Street. And we're going to demand accountability, to shareholders and to taxpayers.
CBSNews.com: There's also a broader economic problem, which is stagnant growth, weak employment, weak manufacturing numbers. Would Senator McCain support a second stimulus package to deal with those issues?
Carly Fiorina: The first stimulus package didn't do much good. We now know that. John McCain has been calling for stimulus in the form of, for example, a gas tax holiday for some time, which gives Americans relief right where they need it the most. But I think the most important thing from a McCain administration point of view is that we need to get the economy growing again in real terms.
So let's not raise people's taxes, but importantly, let's focus on creating more jobs here at home, instead of incenting corporations to send them overseas. Let's make sure that small businesses are able to hire and grow more effectively. He has very specific measures to help small businesses do that. For example, allowing them to expense their investments in one year.
I reference small business because it creates two-thirds of the jobs in this country. So we have to focus on making it easier for small businesses to form and hire. And achieving energy independence is a job creator in this country. If we build nuclear power plants, if we focus on clean coal, if we invest in green technologies, all of those things build jobs.
CBSNews.com: A number of Democrats and a number of columnists, including Tom Friedman, have criticized Senator McCain for not taking a stand for alternative energy tax credits, for supporting subsidies for the oil companies. How is that investing in green technologies?
Carly Fiorina: Well, you know, I love Tom Friedman. But Tom Friedman conveniently forgets that John McCain's energy plan is comprehensive. It's not just about oil. He has said, for example, that he would spend $2 billion in federally funded R&D to create clean coal. He has said that he would invest federal funded R&D in the creation of green technologies.
He has said all those things. He is against raising taxes on oil companies, because we know that doesn't work. It raises the price to consumers, and it decreases the supply. But he is also against big giveaways to oil companies. The 2005 Bush-Cheney energy bill was full of giveaways to big oil companies. John McCain opposed it. Barack Obama voted for it.
CBSNews.com: McCain and President Bush used to disagree on the 2001 and 2003 tax cuts, both of which Senator McCain opposed. Now he wants to make them all permanent. So, is there a substantive economic issue on which John McCain and President Bush disagree?
Carly Fiorina: Oh yes, many. For example, the regulatory reform necessary on Wall Street. John McCain has said for some time, the FCC isn't doing its job. John McCain has called for cap and trade, for many years, and said global warming was real. John McCain voted against the 2005 Bush-Cheney energy bill, because it was full of giveaways.
John McCain voted against the 2008 farm bill, because it's filled with subsidies that increased the price of food. By the way, Barack Obama voted for it, and it was Bush and Cheney's bill. Many Republicans, most Republicans voted for it. John McCain voted against it. There are many issues upon which John McCain and George Bush disagree.
CBSNews.com: John McCain, if elected president, will face what seems like a half a trillion dollar budget deficit. Even if you eliminated all the earmarks, which nobody thinks is particularly likely, you'd only save about $20 billion a year. Where else would he cut spending? And since he's ruled out raising taxes, how does he close that gap?
Carly Fiorina: Well, in part, he would close that gap by doing what Bill Clinton, as a Democratic president, did with a Republican Congress. He would do that by coming to a bipartisan agreement, around a package of tax cuts and spending cuts. I think the question you just asked also needs to be asked of Barack Obama, who now, finally, agrees that we shouldn't raise taxes on the American people.
He too now believes that the Bush tax cuts shouldn't be repealed. He too now agrees that it is counterproductive in a faltering economy to raise taxes on the American people, which is what would happen if you repealed the current tax structure. But he also is proposing massive increases in government spending.
These financial institutions failed today, in part, because they had borrowed too much money, and couldn't pay their debts, when the price of the assets that they had borrowed to buy, i.e. homes, began to fall. We have to get the government's financial house in order as well. John McCain has a track record of demanding that. He has a track record of reform. Barack Obama will grow the size of government dramatically.
CBSNews.com: But if you're going to not only oppose raising taxes but also do additional tax cuts, and you're facing a half a trillion dollar 2009 deficit, how do you close that gap if you're not clearer about where you would cut spending, beyond finding efficiencies in more government agencies?
Carly Fiorina: The facts are that John McCain has said for a number of years now that it is irresponsible that a Republican administration and a Republican Congress presided over a 60 percent increase in discretionary spending in the last seven years.
So specifically, just to give you two examples, he would review every government agency and post the results on the Internet. Now I can tell you, as a businessperson, that when you create that kind of transparency, so that every American taxpayer can see how their tax dollars are actually getting spent, it will create a lot of impetus to reform a lot of agencies.
Second specific example is government procurement programs, defense procurement programs. John McCain has a track record of going in and saying, these huge contracts are insufficiently transparent and are corrupt as a result. And if you look at the size of government procurement today, there is ample opportunity to save money.
CBSNews.com: Does McCain's plan tax employer-provided health benefits?
Carly Fiorina: It doesn't tax employer-provided health benefits. It gives employees a choice. An employee can choose to continue to receive employer-provided health care--or if an employee is, for example, not covered by an employer plan, or they change jobs, they are able to receive a $5000 tax credit, which allows them to purchase their own health insurance.
CBSNews.com: Can you think of any specific policies where Senator Clinton and Governor Palin agree?
Carly Fiorina: Senator Clinton?
CBSNews.com: Yes.
Carly Fiorina: And Governor Palin agree?
CBSNews.com: Yes.
Carly Fiorina: Gee, I would have to think about that.
CBSNews.com: Because, obviously, your campaign has made a big deal of reaching out to Senator Clinton's voters, and has cited Governor Palin as somebody who could help do that. And I'm just trying to think of a specific policy where the two of them would agree.
Carly Fiorina: Well, I would tell you that one of the things that I think attracts Hillary Clinton's supporters to Governor Palin, and I'm someone who's spoken to a great many of them, is in Hillary Clinton, they saw someone that they thought understood what their lives were like.
And I think many people see Sarah Palin and say, she understands what my life is like. She understands what being a working mom, making choices every day, is like. I will consider your policy question, because I haven't looked at Senator Clinton's policy record in some time. But I would tell you that Senator Clinton and John McCain worked on a number of issues together, and are real friends.
CBSNews.com: Do you really believe that Senator Obama was referring to Sarah Palin as a pig last week?
Carly Fiorina: You know what? I don't know what he was referring to. I truly don't. But in the context of what was going on, it was a foolish remark, which I'm sure he regrets.
CBSNews.com: But didn't it seem the pig was the GOP record and the lipstick was trying to package it as change? I mean, a number of news organizations have said that that seemed clear from the context.
Carly Fiorina: I don't know. I truly don't know. So, I won't ascribe exact motivation to him. I will just say it was a foolish comment. For a man who's careful with his words, I found it surprising. But I would also say that the Obama campaign people are champions at taking sound bites out of context.
By Brian Goldsmith
© MMVII, CBS Interactive Inc. All Rights Reserved.
Video and Galleries from Political Players
- Latest in Political Players
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See all 81 Comments* If your total resume is: local weather girl, 4 years on the city council and 6 years as the mayor of a town with less than 7,000 people, 20 months as the governor of a state with only 650,000 people, then you''re qualified to become the country''s second highest ranking executive.
Our economic crisis is directly caused by Senator McCain''s irresponsible actions. I pray the media talks about this fact.
Her opinion on Hillary is strictly a campaign talking point. Doubtful if she really cares about that part ~ a bit like Palin, trying to use Hillary to promote Palin. The differences are glaring.
I guess if she continues to make up stories for the McCain/Palin campaign, she hopes they will owe her and will give her something cushy in the their administation if she helps them win.
If we know anything about the Republicons Party, they aren''t keen on competence as long as you are loyal and willing to regurgitate the daily talking points, you can be put into any position at all.
LMAO!!!
JOHN McCAIN AND THE ECONOMY
PHIL GRAMM (JOHN MCCAIN''''S ECONOMICS ADVISOR) ------------ RESPONSIBLE FOR THE GRAMM-LEACH-BLILEY ACT THAT DIRECTLY CONTRIBUTED TO THE MORTGAGE CRISIS AND SUBSEQUENT BANK MELTDOWNS
ENRON LOOPHOLE -------WIFE WENDY GRAMM WAS ON BOARD OF DIRECTORS AT ENRON ---S&L BANK MELTDOWN IN THE 80''''S ALONG WITH JOHN MCCAIN AND THE KEATING 5
WANT TO CRASH THE ECONOMY???? JOHN MCCAIN AND PHIL GRAMM ARE JUST WHAT YOU NEED! !!!!
ENRON, S&L, KEATING 5, DEREGULATION, MORTGAGE MELTDOWN, BANK MELTDOWNS .......... ALL CONNECTED DIRECTLY TO GRAMM AND MCCAIN
GONNA TRUST THIS GUY WITH OUR ECONOMY????? HELL NO!!!!!!!!!
SARAH PALIN''''S SOLUTION???? "THE ECONOMY NEEDS SOME SHAKIN'''' UP AND SOME FIXIN" .......... SPOKEN LIKE A TRUE IGNORAMUS!!!
http://www.politico.com/
news/stories/0308/9246.html -McCain guru linked to subprime crisis
http://www.apfn.org/enron/gram
m.htm - ENRON and Gramm
http://en.wikipedia.org/wiki/Sa
vings_and_Loan_crisis
S&L, MCCAIN, GRAMM and KEATING
http://en.wikipedia.org/wiki/Gramm-L
each-Bliley_Act
Why doesn''t McSame just have Bush come out and vouch for his economic plan.
After all it''s identical to Bush''s failed economic plan.
lol!
Typical that the CONS that SET UP this CRISIS would "BLAME THE VICTIM".
At least with KEATING 5 and ENRON we STILL had the NERVE, OUTRAGE and ABILITY to INVESTIGATE,BRING CHARGES and PROSECUTE some of the TOP MANIPULATORS that destroyed so many ordinary citizen''s lives!
As it looks NOW the FAT CATS that used LOBBYISTS to push through SUCH DIRTY DEALINGS will "GET AWAY WITH IT" this time.
Guess "Financial Crisis Fatigue" has set in.
So many of the American people are acting like a BEATEN HOUSEWIFE who STAYS WITH the MONSTER that beats and abuses her!
It''s been a long and convoluted CON JOB based on SELFISHNESS and GREED by people who ALREADY had MORE THAN THEIR SHARE of the Nation''s WEALTH yet in their BOTTOMLESS PIT OF GREED - Wanted MORE!
They wanted it ALL AT ANY COST even up to and Including the DESTRUCTION of the American People and their way of life!
So, this TINY SLICE of people AT THE TOP a"worked" over decades to STEAL the ENTIRE WEALTH of our great Nation slowly inserting laws that FAVORED them, buying politicians, destroying leaders they could not buy and through careful media control and education "mismanagement" -DUMBING DOWN millions.
Still a pig, no matter how you look at it.
The developing NEO-DEPRESSION hitting NOW is OPENING NIGHT for their Financial "Harvest".
The best chance left now is International Outrage as the financial collapse of the US PULLS their nations down with it.
Posted by steeepe at 11:59 AM : Sep 18, 2008
Yes, about 20 MILLION Golden Parachute (A true GOP term) for driving her stock price down and company to the edge of the cliff, outsourcing jobs while throwing expensive parties while flying around in her HP Exec corporate jet.
JUST THE PERSON I WOULD GO TO FOR ECONOMIC ADVISE - If I wanted to royally SCREW all my friends...
This from a woman who nearly drove HP into bankruptcy and was thrown out of her job by the HP board of directors for making STUPID decisions!
Can''t John McBush McCain find ANYONE who is competent enough to know what they are doing? If this is the staff he has "advising" him, God help us if he gets elected!!!!!
SIG HEIL, BUSH!!!!
sig heil, THE ECONOMIC WHIZ KID, McCain!!!!
sig heil, HILIARY WHO???, Palin!!!!
JOHN McCAIN AND THE ECONOMY
PHIL GRAMM (JOHN MCCAIN''''S ECONOMICS ADVISOR) ------------ RESPONSIBLE FOR THE GRAMM-LEACH-BLILEY ACT THAT DIRECTLY CONTRIBUTED TO THE MORTGAGE CRISIS AND SUBSEQUENT BANK MELTDOWNS
ENRON LOOPHOLE -------WIFE WENDY GRAMM WAS ON BOARD OF DIRECTORS AT ENRON ---S&L BANK MELTDOWN IN THE 80''''S ALONG WITH JOHN MCCAIN AND THE KEATING 5
WANT TO CRASH THE ECONOMY???? JOHN MCCAIN AND PHIL GRAMM ARE JUST WHAT YOU NEED! !!!!
ENRON, S&L, KEATING 5, DEREGULATION, MORTGAGE MELTDOWN, BANK MELTDOWNS .......... ALL CONNECTED DIRECTLY TO GRAMM AND MCCAIN
GONNA TRUST THIS GUY WITH OUR ECONOMY????? HELL NO!!!!!!!!!
SARAH PALIN''''S SOLUTION???? "THE ECONOMY NEEDS SOME SHAKIN'''' UP AND SOME FIXIN" .......... SPOKEN LIKE A TRUE IGNORAMUS!!!
http://www.politico.com/
news/stories/0308/9246.html -McCain guru linked to subprime crisis
http://www.apfn.org/enron/gram
m.htm - ENRON and Gramm
http://en.wikipedia.org/wiki/Sa
vings_and_Loan_crisis
S&L, MCCAIN, GRAMM and KEATING
http://en.wikipedia.org/wiki/Gramm-L
each-Bliley_Act
Why doesn''''t McSame just have Bush come out and vouch for his economic plan.
After all it''s identical to Bush''s failed economic plan.
lol!
Yes, about 20 MILLION Golden Parachute (A true GOP term) for driving her stock price down and company to the edge of the cliff, outsourcing jobs while throwing expensive parties while flying around in her HP Exec corporate jet.
Sounds like the Democratic way. Look at Freddie Mac and Fannie Mae. Democrats couldn''t run a lemonaid stand and get a profit.
- WHAT ELSE WILL HE CUT FROM THE POOR and MIDDLE CLASS to LOWER THE DEBT???
Social Security?
Education?
What little Health Care there is out there?
Veteran Pensions?
VA Hospitals?
Military Benefits?
Military Pay?
Military Equipment?
Disaster Recovery?
Collapsing Roads and Bridges?
Clean Water?
Border Security?......
Or Does he thing we can just INCREASE NATIONAL DEBT FOREVER???
no, the democrats are doing a good job of that befoe the election. i.e Freddie Mac, Fannie Mae.
@homespunlady- breath in and out of a paper bag for a min. and relax. Come back to reality.
It''s silly to talk about Democrats as socialists. If you use the same definition it would describe the Republicans. The democrats just want MORE benefits to come back to the people who are paying the bills (and their children) for everything, taking the biggest risk, and losing more than anyone else.
Government supports infrastructure and subsidizes business primarily and pays for big programs like defense, social security. That takes the biggest part of the budget. Republicans hobnob with big business lobbyist and write bills to make their business more profitable and competitive oversease.
America is not a land of pure markets and freely operating capitalism. It never has been. It is a myth that people subscribe to to get their way. Furthermore, businesses try everything they can to rig the system to not be. The trick is to get an advantage through government and have government pay for infrastructure and more. We all need to understand that big businesses have the time and money to game the system with highly paid and well-connected lobbyists. They game the system because it works and because groups such as McCain/Bush/Cheney Republicans believe in it and support it.
ps. It is Obama who will lose dramatically- and it will feel so good to hear the goodbye speech from a man who thinks he hs qualified for anything.
Posted by john43218 at 01:01 PM : Sep 18, 2008
It will be you Republicans who will lose dramatically and it will feel so good to see all of you lying family values war mongering racist non-inclusionist crooks crawl back into your caves and finally start to pay your fair share of taxes. McSame and McPalin aren''t qualified to run their private lives. In fact, here in Phoenix Arizona, he hasn''t done a freakin'' thing for this state other than maintain his status as a senator based upon his record of being a POW for the last 26 years (amazing the media hasn''t inquired about what he''s done here in his home state). That doesn''t exactly qualify him to be President, especially since he admits he knows nothing about economics!
and he didn''t blink, Charlie, he didn''t blink
1 It is Clinton''s fault 9 years after he was in office.
2 It is the democratic congress''s fault that has been in office for only two years.
Yes, the conservatives are GODS on earth and can do no wrong. The right wingers have a superiority complex that does not allow them to see the truth. This is all the republicans fault. Their classic deregulation to let Wall Street run the country is the cause. This is an old republican pattern. Plus the republicans and Bush have become obstructionist and have stalemated congress to keep their policies in place and to maintain power. Now McCain is confused and wants an economic commission to figure out how to further protect Republican interest. Some right wingers call this a plan. Crazy!
McCain/Palin Republican first, Country second.
We wont.
Remember McCain wrote in his book...it''s all about ambition for him, not about the country and certainly not about the issues. He will lie, cheat and steal his way into the WH!
ENOUGH!
In an interview with the Omaha World-Herald, Nebraska Sen. Chuck Hagel (R) suggested that Palin doesn''t have the foreign-policy experience to be president. "''She doesn''t have any foreign policy credentials,'' Hagel said in an interview. ''You get a passport for the first time in your life last year? I mean, I don''t know what you can say. You can''t say anything.''"
Check out this other Hagel line: "''I think they ought to be just honest about it and stop the nonsense about, "I look out my window and I see Russia and so therefore I know something about Russia,"'' he said. ''That kind of thing is insulting to the American people.''"
And this one: "''I think it''s a stretch to, in any way, to say that she''s got the experience to be president of the United States,'' Hagel said."
FIORINA IS THE SAME LADY THAT RAN H.P. INTO THE GROUND, OH YEAH I STAND BY YOUR WORD...
HEY BUSH RAN HIS OIL COMPANY IN THE BANKRUPTCY BEFORE HE BECAME PRESIDENT......
WHAT A GREAT CHOICE......
OH WELL WE ARE JUST A BUNCH OF WHINERS!
DAM THATS BETTER THAN AL GORE INVENTING THE INTERNET!
Where''s the LIB media story about that tax cheating Charlie Rangel (LIB-NY). The guy in charge of writing tax laws cheated on his taxes, but the MSM doesn''t want to report the HYPOCRISY of another LIB.
Fiorina is the failed ex-CEO of Hewlett-Packard. The led it on a big spending spree buying up other companies in the 90''s and eventually ran the stock into the ground. The HP board eventually fired her and her lawyers got her a golden parachute of about $20 million.
She really deserved a golden shower!
She really deserved a golden shower!
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Posted by gce65 at 02:41 PM : Sep 18, 2008
Why is Mc Same listening to Phil Graham and a failed ex CEO Carly Fiorina, because he has no clue about economics, so why should we even listen to his idiotic rhetoric, are we not in enough trouble without the two liars on the campaign trail. Not just fibs, but out and out lies, and I am John Mc Same and I approve this lie.
It was interesting to see Bill O''Reilly tell Sheppard Smith that he has no faith a McCain administration would effectively address this country''s addiction to oil -- very interesting.
obama 08 for real change!
Posted by mcwhitey4u at 02:07 PM : Sep 18, 2008 "
Well mcwhitey4u; you are one sick puppy. The guy governor Palin fired is a political appointee who serves solely at the choice of the Governor; and she needed no reason at all to fire him; but did so for simply being insubordinate. That''s one thing experienced administrators do; fire employees who don''t obey lawful orders. Palin was elected my the people of Alaska who clearly have more common sense than you exhibit.
As for your Obama 08 real change; if I wanted to live under National Socialism dictated by a Sol Alinski Marxist Communist who wants to have his power backed up with a modern Brownshirt "civilian army"; (financed and armed beyond the level of the entire US military), well I would emigrate to one of the world countries that already "enjoys" that sort of change. I prefer that we change to the sort of Government that our founding fathers prescribed for us in Our Constitution.
Obama is a childish brat with delusions of grandeur. I suggest you read his two books, and then Read "Mein Kamph" so you can see what happened to the last great country that was duped by a messiah for change, and didn''t believe what he told them in HIS book he would for them in the name of change.
-John McCain, 2000
''I''m always for less regulation.''
-John McCain, March, 2008
Today, though, he is trying to quickly re-cast himself as a ''tough regulator'' and will call for the firing of the SEC Chairman (appointed by Bush).
If this wasn''t so sick it would be funny.
Senate Majority Leader Harry Reid said yesterday, "no one knows what to do'''' at the moment.
how reassuring
He''s already done enough damage to the economy.
They both understand the complex financial instruments (greed, greed and greed) that drive our economy under the Republicans.
And the change that they bring use the solution of Bill Clinton. Sound familar? Bush is now working to solve problems in the Middle East using OB ideas.
So much change and new ideas.
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