Most everyone knows John McCain has admitted admitted that "the issue of economics is not something I've understood as well as I should." What has gone mostly unnoticed is the significance of McCain’s answer at the second debate when asked who he had in mind for Treasury Secretary. McCain first identified Warren Buffett as an example of who he would consider for that position—"somebody who immediately Americans identify with, immediately say, we trust that individual."
Since McCain admits he does not understand economics, it would seem logical to look to who McCain identifies as knowledgeable in economic matters rather than McCain.
Unfortunately for McCain, Warren Buffett has already endorsed Barack Obama and is one of Obama’s economic advisors about our current economic crisis. With respect to McCain, Warren Buffett was pretty explicit:
I THINK IT'S UNLIKELY THAT, YOU KNOW, UNLESS HE HAS A -- I WOULDN'T SAY A SEX CHANGE, BUT A LOBOTOMY OR SOMETHING, I DON'T THINK McCAIN IS GOING TO CHANGE HIS VIEWS TO BE IN ACCORD WITH MINE. I ADMIRE HIM A LOT. I THINK HE'S AN ABSOLUTELY FIRST CLASS HUMAN BEING AND THE REPUBLICANS ARE GOING TO ELECT SOMEBODY I HOPE IT IS JOHN McCAIN. BUT HE HAS TOO MANY IDEAS THAT ARE DIFFERENT THAN I DO, PARTICULARLY IN TERMS OF WHAT I WOULD CALL SOCIAL JUSTICE.
In other words, according to Warren Buffett not only does McCain not get it, but he is not capable of getting it! He would need brain surgery to get it. This is the guy that McCain identified as Treasury Secretary material and someone he would look to for advice. Ok, John, take Buffett's advice and listen to Obama.
McCain has therefore embraced Obama’s judgment regarding who in this country is the key economic advisor. That advisor rejects McCain’s policies and embraces Obama’s. If the economy is the number one issue, the only logical vote is for Obama. I can imagine the killer ad with McCain identifying Warren Buffett for Treasury Secretary to be followed by Buffett slamming McCain and ending with his endorsement of Obama. It would seem to be political checkmate on economic issues.