Posted by
Tom G. on Thursday, November 06, 2008 4:03:37 PM
John McCain was racing in the polls, to a slight lead thanks to the energy brought by the pick of Sarah Palin. The base finally came out for the Senator, began to support the campaign, add bumper stickers to their cars and signs to their yards, man phonebanks and speak of the virtue of McCain the man!
Then the bottom fell out of the financial markets...Paulson a Democrat comes to Bush and says you must go on TV and press for a BailOut...McCain had a choice to make...No,... not whether to debate or not (his decision to put the debate into question caused a free fall of support from moderates), but rather whether to support the FED in Bailing out the Markets by using the Treasury to fund Selelcted Businesses...
John McCain held one card in common with the Base of his Party, that of Fiscal Conservativism. ON the day he decided to support the bailout and not fight and rail against it, he lost the campaign.
Obama was elected the day McCain supported the Bailout...and the GOP paid dearly.
The one issue that could have demonstrated his leadership in Spending, Fiscal Management and his DISTANCE from the BUSH ADMINISTRATION was presented to him on a golden platter...BUT alas, McCain failed the test of his Campaign.
Assuming he would have challanged the logic, ethics and ideals behind government selecting the winners of the fiscal gambles made in the markets as pressed by Government Entities like Freddie/Fannie. McCain could have placed himself as the one, lone voice, protecting the people of the United States. He could have used this as the moment of truth about the difference of experience and frivolity. He could have used the Bail Out as a tool to place into contrast himself, and Obama, Pelosi, Frank, Dodd, and perhaps most importantly--BUSH!
The Election turned out to be a referendum on BUSH, but if Obama and Bush were on one side of the most historic financial crisis in the US in 70 years and McCain stood on the other for the little guy, Joe Six-pack, Joe the Plumber and the rest of us...who would be cheering today would be McCain and his transition team.
Rather than arming the Obama folks with more BUSH=McCAIN ammo, it would have derailed the BUSH in the REARVIEW MIRROR ads being played by the DNC in Congressional Races and by Obama in Swing State advertising.
The ultimate test of his campaign sealed the deal for Obama...when McCain chose to support the BAILOUT and thusly the President, he alligned himself with Bush to the bitter end. Irrespective of the fact Obama supported it too, the fact was that Obama crafted a more quiet and sublime support while McCain pinned himself to the success of a quick fix that was never going to come.
The irony that presented itself from the earlier quote McCain uttered about not being the brightest on economics proved pivitol in this campaign, not becuase it was true, but becuase it was proven!
McCain bought into the Paulson, Goldman Sachs self preservation plan of a BAILOUT not realizing it could not protect the markets from the tide of fear. Once the Tidal Wave of financial doubt crept in, it could not be saved...McCain failed to grasp the severity of the cirsis, and thus tied himself to the logic of an illogical plan.
McCain suffered a loss in November for his failure to stand with his principles of fiscal conservativism...he stood alone at times trying to prevent mismanagment at Fannie and Freddie in the early years of the Bush Administration, but failed to recall his own advise...Government should not play loose and free with the peoples money...government should not pick winners and losers!
McCain by picking the Bailout, picked the next President...hello President-elect Obama