Skip to main content

It's 3 am and we're in the midst of a once-in-a-century economic crisis. Who do you want answering the phone? Well, let's start by taking a look at where we are after 8 years of Republican economic policies.

The housing market is soft, credit is scarce, mortgage foreclosures are at an all-time high, and we're $10 trillion in debt. While labor productivity has risen 13.5 percent, middle class real wages have fallen roughly $1700. At the same time, the cost of healthcare, college, gas, and food have skyrocketed.

(Crossposted from Our Republic)

Earlier this year, federal taxpayers bailed out one of the world's largest investment banks. Earlier this month, taxpayers bailed out the country's two largest mortgage lenders. Earlier today, another of the world's largest (also U.S. based) investment banks filed for bankruptcy. And just a few hours ago, John McCain told Floridians that he still believes "the fundamentals of our economy are strong."

To his credit, McCain has conceded that "the issue of economics is not something I’ve understood as well as I should." But as McCain made clear today, he remains not only completely out of touch, but hopelessly ill-equipped to take on the economic challenges we face.

Originally posted to Republicus on Mon Sep 15, 2008 at 12:12 PM PDT.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site