Archive for the ‘deficit’ Category

Too Late for a McCain Comeback?

October 17, 2008

With less than three weeks to go, CNN’s latest poll of polls shows Sen. McCain trailing Sen. Obama by 8 points nationwide — a mid-October deficit that only one presidential hopeful has overcome to win the White House in the last 50 years: Ronald Reagan.

Bt Andrew Mooney
CNN

(Oct. 16) – Sen. John McCain likes to say he enjoys being the underdog. After all, this is the relentless candidate who somehow managed to capture his party’s nomination after the political world left him for dead in the summer of 2007.
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But even as he spends the campaign homestretch reminding wary Republicans of his miraculous comeback last year, history suggests it may simply be too late.
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Both publicly and privately of course, neither the candidates nor their aides are ready to say the race is over.

On Thursday morning, Sen. Barack Obama warned supporters not to get “cocky,” while a few hours later McCain pledged to Pennsylvania voters he would erase Obama’s lead by Election Day.
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But with less than three weeks to go, CNN’s latest poll of polls shows McCain trailing Obama by 8 points nationwide — a mid-October deficit that only one presidential hopeful has overcome to win the White House in the last 50 years.
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In the 1980 presidential election, former California Gov. Ronald Reagan trailed President Jimmy Carter by 8 points in a late October Gallup poll. A mere 10 days after that survey was conducted, Reagan defeated the incumbent president by nearly 3 percentage points, sealing one of the biggest turnarounds in the history of American presidential politics.
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But if 2008 is at all like 1980, it’s Obama who is Ronald Reagan, not McCain.

Read the rest:
http://news.aol.com/elections/article/is-it-too-
late-for-a-mccain-comeback/215417

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McCain: A Candidate Who Embraces Opposites

October 11, 2008

At the presidential debate in Nashville last Tuesday, Senator John McCain made his case for fiscally conservative, smaller government, calling for an “across the board” spending freeze and denouncing what he described as Senator Barack Obama’s “government will do this and government will do that” approach to health care.

But Mr. McCain’s big proposal that night was to spend $300 billion in taxpayer money to buy bad mortgages from banks and refinance them, a plan conservatives quickly criticized as an expensive effort to nationalize the mortgage industry.

Republican presidential candidate, Sen. John McCain, R-Ariz., ... 

The juxtaposition of a hands-off approach to governing with an embrace of intervention — albeit intervention at a moment of national crisis — was hardly unusual for Mr. McCain. Throughout his run for the presidency, he has often proposed policies that appear to be incompatible with one another, if not contradictory.

His foreign policy, for example, calls for ostracizing Russia for its undemocratic ways by expelling it from the Group of Eight industrialized powers, a hard-line position that he took long before Russia’s war with Georgia this summer. But Mr. McCain also calls for fostering closer ties with Russia to cooperate with it on a new nuclear disarmament agreement.

Mr. McCain’s economic policy centers on extending President Bush’s deficit-swelling tax cuts and on cutting even more corporate taxes. But at the same time, Mr. McCain has vowed to balance the federal budget by the end of his term, a pledge he has reiterated even with the fiscal crisis threatening to throw the budget even deeper into the red.

His energy policy is built in part on curbing the use of fossil fuels to reduce global warming, and he was an early Republican supporter of the cap-and-trade approach. But as gas prices shot up he made a series of proposals aimed at making gasoline cheaper and more available, from his call for a gas-tax holiday last summer to his new support for drilling for oil offshore (but still not in the Arctic National Wildlife Refuge).

Read the rest:
http://www.nytimes.com/2008/10/12/us/politics
/12mccain.html?_r=1&hp&oref=slogin