Tuesday, September 30, 2008

Obama Now Backs McCain's "Economy is Sound"

Last week, Obama economic adviser Jason Furman Washington Posttold the Washington Post: "This [bailout] is a major fiscal problem in the short run, but it doesn't alter the long-term fiscal picture."
Furman comes across as tone deaf to the larger economic concerns of voters, focusing on the fact that the government won't go broke doing the bailout. I don't think anyone thinks it will. It's not the FISCAL (government) problem that the candidates need to address.....

it's getting across to the American people that this bailout isn;t going to bankrupt them through higher taxes. That this bailout is about restoring the financial system that we all depend on everyday. That not doing the bailout makes about as much sense as stopping running the subway in New York...the cure is a lot worse than the disease.

The Democratic Congress, and Democratic economists such as Furman just don't seem to get it.

The context of Furman's remarks is this remark from Obama:

"After this immediate problem, we've got the long-term fundamentals that will really make sure this economy grows."

Obama mocked McCain for saying the same thing in January of this year. His top economic advisers agree with McCain. And his political advisers seem to be letting the candidate pick up McCain's message.


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