More symptoms of the “super subprime” problem today, with Lehman Brothers declaring bankruptcy, Merrill Lynch’s takeover, and the Dow suffering its worst decline in seven years (more than 500 points).
Guess it’s time for voters to start paying a little more attention to what the candidates have to offer in terms of a true change in direction for economic policy–as Chris Cillizza and Dan Balz suggest on their Washington Post blogs today. If I were the McCain campaign, I’d stop calling attention to all their deficit-financed tax cuts for the rich (which would include the CEOs they were so critical of today) and their general philosophy of (as Sarah Palin put it) getting government “out of the way…of the private sector” (which would seem to preclude McCain’s promise today to “clean up Wall Street”). And if I were the Obama campaign, I’d stop calling attention to how close to Bush policy extended their proposed tax cuts are, in that contest they seem to be having with the McCain campaign about who’s cutting taxes (and increasing the deficit) more.
(Oh, glad to see Brad DeLong noticed the irony in McCain’s comments about the CEOs, too, in a thread with an even shorter title than this one.)
Yes, it’s time for all of us to start paying attention to the real issue of the economy in this campaign–time to listen to the substance of what these candidates are actually proposing to change regarding the course of economic policy. I know it’s not as fun as talking about lipstick, but we’ve got to try.