This post will come in parts. Here is part 1 for you to ponder. And don't forget to go visit her blog as well.
Disclaimer: This is not the typically insightful and impassioned post you see here at blog de la Lauren. In fact, you should know that I was nervous while watching the debate knowing I would be reporting on it for Lauren. And I was possibly hyperventilating. And I was quite possibly guzzling a margarita, on the rocks, because this was some serious sh*t. That being said, you can exercise the appropriate caution.
Round 1: The Financial Recovery Plan
Obama was up first. He was his usual poised pontificating self. He stated, “This is the worst financial crisis since the Great Depression.” Oh really? Thanks for clearing that up for me with only a fleeting provocative statement.
He went on to propose that there are four elements essential to the recovery plan.
1. Strict oversight of the $700 billion
2. Taxpayers get the money back with gains
3. No padding for CEOs
4. Help for homeowners
He also stated that the measurement for success is how the middle class is doing. Wow. That’s amazingly specific (not). But, I could hear liberal Americans all over the country nodding their heads. Of course, it’s what people want to hear—“I’ll take care of you. You’re my peeps.” Easy to say, harder to accomplish.
When directly asked, Obama would not say straight out that he favors the plan. Instead he said, “Constructive work needs to be done.” Uh-huh. Duh. Later on, he actually said that McCain was right about the response (i.e. accountability) but that it should not just be in a time of crisis but day-in and day-out. From there he managed to diverge into healthcare and energy. Me thinkith you have nothing more of substance to say and are now just pandering to the liberal voters.
McCain seemed a bit less eloquent, as is his style, but confident. He stated that the fiscal crisis is represented in failures on Main Street, in loss of jobs, and loss of homes. He said the recovery plan needs to include:
Loans (not government takeovers) for failing businesses
Yes, indeed. You can have all the regulations in the world, but if oversight and integration of all financial sectors into the larger economic issues are not effective, you may as well still kiss your ass goodbye. I worked for a financial institution for nine years. I lived with regulations; I know they can only do so much.
When asked if he supports the recovery plan McCain stated, “I hope to vote for the plan.” He explained that accountability has been lacking, that greed has been rewarded, and that there has been a failure in responsibilities. Therefore he supports fixing the system’s fundamental flaws and implementing stricter interpretation of regulations. He presented a positive outlook stating, “I believe our best days are ahead.” This created an interesting juxtaposition to Obama’s gloomier 'let’s blame all the economic failings on the Bush administration and by association on McCain'.