Remarks of Senator Barack ObamaConfronting an Economic Crisis As Prepared For Delivery

Tuesday, September 16th, 2008

Golden, Colorado

Over the last few days, we have seen clearly what’s at stake in this election. The news from Wall Street has shaken the American people’s faith in our economy. The situation with Lehman Brothers and other financial institutions is the latest in a wave of crises that have generated tremendous uncertainty about the future of our financial markets. This is a major threat to our economy and its ability to create good-paying jobs and help working Americans pay their bills, save for their future, and make their mortgage payments.

Since this turmoil began over a year ago, the housing market has collapsed. Fannie Mae and Freddie Mac had to be effectively taken over by the government. Three of America’s five largest investment banks failed or have been sold off in distress. Yesterday, Wall Street suffered its worst losses since just after 9/11. We are in the most serious financial crisis in generations. Yet Senator McCain stood up yesterday and said that the fundamentals of the economy are strong

A few hours later, his campaign sent him back out to clean up his remarks, and he tried to explain himself again this morning by saying that what he meant was that American workers are strong. But we know that Senator McCain meant what he said the first time, because he has said it over and over again throughout this campaign – no fewer than 16 times, according to one independent count. 

Now I certainly don’t fault Senator McCain for all of the problems we’re facing, but I do fault the economic philosophy he subscribes to. Because the truth is, what Senator McCain said yesterday fits with the same economic philosophy that he’s had for 26 years. It’s the philosophy that says we should give more and more to those with the most and hope that prosperity trickles down. It’s the philosophy that says even common-sense regulations are unnecessary and unwise. It’s a philosophy that lets Washington lobbyists shred consumer protections and distort our economy so it works for the special interests instead of working people.

We’ve had this philosophy for eight years. We know the results. You feel it in your own lives. Jobs have disappeared, and peoples’ life savings have been put at risk. Millions of families face foreclosure, and millions more have seen their home values plummet. The cost of everything from gas to groceries to health care has gone up, while the dream of a college education for our kids and a secure and dignified retirement for our seniors is slipping away. These are the struggles that Americans are facing. This is the pain that has now trickled up.

So let’s be clear: what we’ve seen the last few days is nothing less than the final verdict on an economic philosophy that has completely failed. And I am running for President of the United States because the dreams of the American people must not be endangered any more. It’s time to put an end to a broken system in Washington that is breaking the American economy. It’s time for change that makes a real difference in your lives.

If you want to understand the difference between how Senator McCain and I would govern as President, you can start by taking a look at how we’ve responded to this crisis. Because Senator McCain’s approach was the same as the Bush Administration’s: support ideological policies that made the crisis more likely; do nothing as the crisis hits; and then scramble as the whole thing collapses. My approach has been to try to prevent this turmoil.   

In February of 2006, I introduced legislation to stop mortgage transactions that promoted fraud, risk or abuse. A year later, before the crisis hit, I warned Secretary Paulson and Chairman Bernanke about the risks of mounting foreclosures and urged them to bring together all the stakeholders to find solutions to the subprime mortgage meltdown. Senator McCain did nothing.

Last September, I stood up at NASDAQ and said it’s time to realize that we are in this together – that there is no dividing line between Wall Street and Main Street – and warned of a growing loss of trust in our capital markets. Months later, Senator McCain told a newspaper that he’d love to give them a solution to the mortgage crisis, “but” – he said – “I don’t know one.”

In January, I outlined a plan to help revive our faltering economy, which formed the basis for a bipartisan stimulus package that passed the Congress. Senator McCain used the crisis as an excuse to push a so-called stimulus plan that offered another huge and permanent corporate tax cut, including $4 billion for the big oil companies, but no immediate help for workers.

This March, in the wake of the Bear Stearns bailout, I called for a new, 21st century regulatory framework to restore accountability, transparency, and trust in our financial markets. Just a few weeks earlier, Senator McCain made it clear where he stands: “I’m always for less regulation,” he said, and referred to himself as “fundamentally a deregulator.”
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Sen. McCain said last night that he too will bring change to Washington DC.  Yet the same McCain has voted with Bush 90 percent of the time AND laid out an economic plan last night that is almost exactly the same as the economic policy of George W. Bush.  Perhaps someone should define change to Sen. McCain.  Simply entering office with a female version of Dick Cheney does not mean that your ticket represents change.  It means that it’s Bush style politics dressed in heels and a military cloak.  Guess what….George W. Bush also was a governor of a state outside of Washington DC.  Sen. McCain has been in the senate for 26 years!  After election day, with the amount of Rove and Bush cronies that are running McCain’s campaign, the Arizona senator will owe a slew of favors to lobbyists, special interests (oil companies), etc..  McCain’s running mate, Gov. Sarah Palin, is already involved in her second “abuse of power” investigation in only a very short political career.  If this is not a red flag indicating a Bush-Cheney style of leadership, I don’t know what is. 

In addition, Palin was an unnecessary, reckless, and impulsive political risk by McCain in a blatant political  pander to his far right conservative base.  The choice of Palin was also an arrogant, dirisive, and gratuitous risk.  There are so many female GOP candidates that would have shook up the race in terms of making history, but McCain, without conducting a proper vet, chose someone that neither he nor his campaign knew much about.  By the way, for those who say that McCain is the safer choice, McCain’s history of taking many of these types of unnecessary risks speaks against that conclusion.  As a pilot, McCain was involved in at least three crashes that may have been avoided had he bothered to read his flight manuals.  This seems like a person that not only takes unnecessary risks with his own life but risks the lives of others in the process.  How does anyone get into an airplane and wing it knowing the devastation that crashing could bring to others on the ground and in the air?  Perhaps when I was a teenager such a candidate would  have been appealing….you know……..when most of us had no sense of our own mortality.  However, as an adult member of the electorate, I am not looking for a rebel rouser making decisions regarding peace and war in the White House.  Especially a rebel rouser who has a reputation for being a war monger.  We had that with the shadow presidency of Dick Cheney.  It really takes balls to go into the White House and take a country to war based on your own personal agenda.  After the last eight years, we need a safe and steady hand on the tiller.

So, regardless of how “maverick” McCain claims that he will shake up or bring change to Washington,  it may be more of a credible argument if his party were not the party currently in power and he had not voted with Bush 90% of the time during Bush’s tenure in office and 95% of the time in this last year.  It is McCain’s policies that will be implemented in his administration, and McCain’s policy proposals are very, very, similar to the policies of the Bush-Cheney administration, especially when it comes to the economy and foreign policy.  Unfortunately for McCain, CHANGE is much more than a banner.

Governor Sarah Palin gave a speech last night laced with sarcasm and mocking rhetoric directed at Senator Obama and his wife Michelle.  While Sen. Biden’s speech appealed to the best part of us, Gov. Palin’ speech appealed to the worst part of us.  Still keeping in mind that this race is about John McCain and his judgment because he is the person to whom the buck would stop (one 15-minute VP interview), we feel the need to devote at least one post to Gov. Palin’s speech.  Palin’s speech had the Cheney style smugness that is the hallmark of the current administration.  It wasn’t a surprise when we found out that Dubya’s speechwriter crafted the speech. One wonders how  she will do on her own without the strategists and speechwriters.  If she is the new light of the right…..then put her out there.  There are questionable reports that the teleprompter may have broken during Palin’s speech last night….okay, so Palin can actually memorize a speech after practicing for several days.  What skill!  Anyone who thinks that any part of that speech last night was not scripted is either smoking something or thinks the rest of us are smoking something.  During the day yesterday the McCain campaign portrayed Palin as a victim of sexism, yet as the camera panned the auditorium last night  we saw buttons like ” we have the hottest VP”  and “hot chick.”  The hypocrisy is palatable.  Also, Palin did a good job of not mentioning her extremist views regarding abortion (no abortions even in cases of rape or incest), global warming ( not man made), etc..  The Alaskan governor failed to mention that after being in office for less than 20 months she is already the subject of an ethics investigation.  In addition, she failed to mention that she raised taxes as governor, she coveted pork-barrel projects as mayor, she attempted to ban books at the local library, and she believes the war in Iraq is “a task from God.  Palin also told a number of lies in her speech last night but because she gave a good delivery to the GOP audience the media is spinning it as brilliant. Now it’s time to look at her speech without the beer goggles.  There were gross mischaracterizations of her own history as well as that of Sen. Obama’s.  She said that she told Congress “thanks but no thanks” to the “bridge to nowhere” when she lobbied for and received millions in earmarks ($223 million “bridge to nowhere” funds to be exact).  Also, the “bridge” led to a town of about 50 residents…….that works out to be about 4.5 million per resident…..very fiscally responsible with our tax dollars.  Not to mention that she was for the “bridge to nowhere” before it became politically unpopular in Alaska and then she was against it.  So tell me, how much do you trust someone who in their first national speech to a national audience looks straight into the camera and tells easily refutable lies.  Brazingly, unapolagetically lied in an effort to dupe the public.  That takes balls.  Do you trust that this person will do anything that she promises?  Isn’t that exactly what George Bush and Bill Cheney did when selling the war in Iraq, etc..  Palin described how she had actual responsibilities as mayor and mocked Sen. Obama’s experience as a community organizer even though as a community organizer Sen. Obama was able to get laid off steel workers jobs that had been shipped overseas among his many other accomplishments during that time.  Palin exact quote was the following:  

Before I became governor of the great state of Alaska, I was mayor of my hometown. And since our opponents in this presidential election seem to look down on that experience, let me explain to them what the job involves. I guess a small-town mayor is sort of like a ‘community organizer,’ except that you have actual responsibilities.

Yes Gov. Palin, as a “small-town” mayor you did have responsibilities.  You had the responsibility not to leave your town that boasted a surplus as you entered office but a $20 million deficit as you left.  This is a town with a $6 million dollar budget and 53 employees.  I guess Palin’s motto is spend, spend, spend.  Like the current Bush, Palin’s overconfidence overshadows her incompetence.

Palin also asserted:

“There is much to like and admire about our opponent. But listening to him speak, it’s easy to forget that this is a man who has authored two memoirs but not a single major law or reform _ not even in the state senate.”

Well Gov. Palin, Sen. Obama worked with Republican Sen. Richard Lugar of Indiana ”to pass legislation that expanded efforts to intercept illegal shipments of weapons of mass destruction and to help destroy conventional weapons stockpiles. The legislation became law last year.”  Sen. Obama also successfully co-sponsored major ethics reform legislation.  I will not even go into Sen. Biden’s record.   Exactly what legislation have you written……you didn’t mention that last night.

Further, is the McCain/Palin ticket really taunting itself as change when it is the party currently in office and is responsible for the majority of the problems that our country is mired in. Why are you telling us how bad the opponent is without telling us what your plan is?  There was nothing about how you will be able to improve the lives of the average American.

Sarcasm is not an effective negotiating tool when you’re facing a crisis in Georgia or the Middle East.  Sarcasm is not an effective tool in a sinking economy.  In other words, lots of zingers mixed with sarcasm does not a competent leader make.  Oh…by the way….Sen. Palin….you received 1500 votes to become mayor of Wasilla, Sen Biden received almost 80,000 votes during the primary.

Today is the 45th anniversary of Martin Luther King’s “I Have A Dream” speech.  On this historic day Senator Barack Obama will officially accept the Democratic Party nomination to be the party representative in the general election to become the President of the United States.  And ProgressPolitics will be there.  This marks the first time that an African-American has ever achieved this high honor and this writer predicts that there will not be a dry eye in the house.  As an African-American that will be sitting in the audience during this once in a lifetime experience, it is impossible to explain the range of emotions that are going through me right now.  Pride, Excitement, Optimism, and Joy are just a few of the adjectives that come to mind.  There are many people who have worked tirelessly for Sen Barack Obama because of his vision, his character, and his plan to return America to its former greatness.  All we can say is that this is the first step for many of us.  For many African-Americans who have never seen a person that looked like us in such a position, I would say that the predominate emotion is pride.  Sen. Obama has reached this great milestone not by changing who he is but because of who he is.  As a African-American male raised by a single mother, this is an all to common way that many African-Americans start out.   Witnessing someone who came from such humble beginnings achieve this great thing sends a message to every African-American child that anything and everything is possible regardless of how you start out.  The pundits may decide to try and spin this, by pundits I mean the Right (Fox, Limbaugh, Hannity), because of the size of the stadium and the aestetics of the venue but the truth is that Sen. Barack Obama is a candidate of the people.  It is the blood, sweat, and tears of millions that will have put Sen. Obama on the Invesco Field stage tonight.  The idea that it is a mistake to allow them to partake in this historic occasion is absolutely ludicrous.  There are thousands upon thousands of people who want to witness this historic event and to limit it to only a few people would be an injustice to all the volunteers and voters who are responsible for Sen. Obama being there.  For the first time in history we have an African-American of a major party as an official contender for President of the United States.   We are in the beginnings of a “dream” realized.

Ladies and Gentleman we give you Martin Luther King, Jr. 

I am happy to join with you today in what will go down in history as the greatest demonstration for freedom in the history of our nation.

Five score years ago, a great American, in whose symbolic shadow we stand today, signed the Emancipation Proclamation. This momentous decree came as a great beacon light of hope to millions of Negro slaves who had been seared in the flames of withering injustice. It came as a joyous daybreak to end the long night of their captivity.

But one hundred years later, the Negro still is not free. One hundred years later, the life of the Negro is still sadly crippled by the manacles of segregation and the chains of discrimination. One hundred years later, the Negro lives on a lonely island of poverty in the midst of a vast ocean of material prosperity. One hundred years later, the Negro is still languishing in the corners of American society and finds himself an exile in his own land. So we have come here today to dramatize a shameful condition.

In a sense we have come to our nation’s capital to cash a check. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the unalienable rights of life, liberty, and the pursuit of happiness.

It is obvious today that America has defaulted on this promissory note insofar as her citizens of color are concerned. Instead of honoring this sacred obligation, America has given the Negro people a bad check, a check which has come back marked “insufficient funds.” But we refuse to believe that the bank of justice is bankrupt. We refuse to believe that there are insufficient funds in the great vaults of opportunity of this nation. So we have come to cash this check — a check that will give us upon demand the riches of freedom and the security of justice. We have also come to this hallowed spot to remind America of the fierce urgency of now. This is no time to engage in the luxury of cooling off or to take the tranquilizing drug of gradualism. Now is the time to make real the promises of democracy. Now is the time to rise from the dark and desolate valley of segregation to the sunlit path of racial justice. Now is the time to lift our nation from the quick sands of racial injustice to the solid rock of brotherhood. Now is the time to make justice a reality for all of God’s children.

It would be fatal for the nation to overlook the urgency of the moment. This sweltering summer of the Negro’s legitimate discontent will not pass until there is an invigorating autumn of freedom and equality. Nineteen sixty-three is not an end, but a beginning. Those who hope that the Negro needed to blow off steam and will now be content will have a rude awakening if the nation returns to business as usual. There will be neither rest nor tranquility in America until the Negro is granted his citizenship rights. The whirlwinds of revolt will continue to shake the foundations of our nation until the bright day of justice emerges.

But there is something that I must say to my people who stand on the warm threshold which leads into the palace of justice. In the process of gaining our rightful place we must not be guilty of wrongful deeds. Let us not seek to satisfy our thirst for freedom by drinking from the cup of bitterness and hatred.

We must forever conduct our struggle on the high plane of dignity and discipline. We must not allow our creative protest to degenerate into physical violence. Again and again we must rise to the majestic heights of meeting physical force with soul force. The marvelous new militancy which has engulfed the Negro community must not lead us to a distrust of all white people, for many of our white brothers, as evidenced by their presence here today, have come to realize that their destiny is tied up with our destiny. They have come to realize that their freedom is inextricably bound to our freedom. We cannot walk alone.

As we walk, we must make the pledge that we shall always march ahead. We cannot turn back. There are those who are asking the devotees of civil rights, “When will you be satisfied?” We can never be satisfied as long as the Negro is the victim of the unspeakable horrors of police brutality. We can never be satisfied, as long as our bodies, heavy with the fatigue of travel, cannot gain lodging in the motels of the highways and the hotels of the cities. We cannot be satisfied as long as the Negro’s basic mobility is from a smaller ghetto to a larger one. We can never be satisfied as long as our children are stripped of their selfhood and robbed of their dignity by signs stating “For Whites Only”. We cannot be satisfied as long as a Negro in Mississippi cannot vote and a Negro in New York believes he has nothing for which to vote. No, no, we are not satisfied, and we will not be satisfied until justice rolls down like waters and righteousness like a mighty stream.

I am not unmindful that some of you have come here out of great trials and tribulations. Some of you have come fresh from narrow jail cells. Some of you have come from areas where your quest for freedom left you battered by the storms of persecution and staggered by the winds of police brutality. You have been the veterans of creative suffering. Continue to work with the faith that unearned suffering is redemptive.

Go back to Mississippi, go back to Alabama, go back to South Carolina, go back to Georgia, go back to Louisiana, go back to the slums and ghettos of our northern cities, knowing that somehow this situation can and will be changed. Let us not wallow in the valley of despair.

I say to you today, my friends, so even though we face the difficulties of today and tomorrow, I still have a dream. It is a dream deeply rooted in the American dream.

I have a dream that one day this nation will rise up and live out the true meaning of its creed: “We hold these truths to be self-evident: that all men are created equal.”

I have a dream that one day on the red hills of Georgia the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood.

I have a dream that one day even the state of Mississippi, a state sweltering with the heat of injustice, sweltering with the heat of oppression, will be transformed into an oasis of freedom and justice.

I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.

I have a dream today.

I have a dream that one day, down in Alabama, with its vicious racists, with its governor having his lips dripping with the words of interposition and nullification; one day right there in Alabama, little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers.

I have a dream today.

I have a dream that one day every valley shall be exalted, every hill and mountain shall be made low, the rough places will be made plain, and the crooked places will be made straight, and the glory of the Lord shall be revealed, and all flesh shall see it together.

This is our hope. This is the faith that I go back to the South with. With this faith we will be able to hew out of the mountain of despair a stone of hope. With this faith we will be able to transform the jangling discords of our nation into a beautiful symphony of brotherhood. With this faith we will be able to work together, to pray together, to struggle together, to go to jail together, to stand up for freedom together, knowing that we will be free one day.

This will be the day when all of God’s children will be able to sing with a new meaning, “My country, ’tis of thee, sweet land of liberty, of thee I sing. Land where my fathers died, land of the pilgrim’s pride, from every mountainside, let freedom ring.”

And if America is to be a great nation this must become true. So let freedom ring from the prodigious hilltops of New Hampshire. Let freedom ring from the mighty mountains of New York. Let freedom ring from the heightening Alleghenies of Pennsylvania!

Let freedom ring from the snowcapped Rockies of Colorado!

Let freedom ring from the curvaceous slopes of California!

But not only that; let freedom ring from Stone Mountain of Georgia!

Let freedom ring from Lookout Mountain of Tennessee!

Let freedom ring from every hill and molehill of Mississippi. From every mountainside, let freedom ring.

And when this happens, when we allow freedom to ring, when we let it ring from every village and every hamlet, from every state and every city, we will be able to speed up that day when all of God’s children, black men and white men, Jews and Gentiles, Protestants and Catholics, will be able to join hands and sing in the words of the old Negro spiritual, “Free at last! free at last! thank God Almighty, we are free at last!        

Progress.

The natives were restless in Denver today in anticipation of what the former President Bill Clinton. Fear no more because Bill Clinton HIT IT OUT OF THE PARK!!!!   The audience went wild during several point sin his speech.  Congressman Meeks introduced President Bill Clinton. The former president expressed his honor to be appearing at the convention.  He then said that he is here first to support Barack Obama and second to warm up the crowd for Joe Biden.  President Clinton then said that he will do everything he can to elect Barack Obama for president.  The former president reiterated that the nation is in trouble and that our position in the world has been weakened.  President Clinton then said that the job of the next president is to rebuild the American dream and restore our leadership in the world Clinton then stated with conviction that Barack Obama is the man for this job.  The former  President said that Barack Obama is ready to lead and honor the oath to preserve, honor, and defend the Constitution of the United States.  The President received a standing ovation several times during his speech.  And the coupe de gras, Clinton stated indisputably that “Barack Obama is ready to be the President of the United States.”  President Clinton emphasized the importance of diplomacy first in this new world.  It was a great performance by President Clinton.  The torch has been passed. 

There was quite a bit of anticipation for Sen. Hillary Clinton’s speech last night amongst the chattering class.  Punditville was falling all over themselves hoping for something, something unexpected to happen so that they would be able to chatter about it for a few weeks.  We can tell you that the mood on the floor of the convention was not as a buzz as the chattering class is reporting.  As a matter of fact there is really no drama at all.  The mood on the streets and in the Convention hall is excitment and gratitude that the democratic party has such a great candidate.  There have been a few protests but they are usually par for the course at any party convention.  Anyway, back to Sen. Clinton’s speech.  Chelsea Clinton introduced her mother, and Sen Clinton came out to thundering applause.  The speech was well received by the delegates and all the other attendees lucky enough to secure credentials.  We stood just behind Governor of Virgina Tim Kaine and Virginia Congressman Jim Moran.  Both of whom seemed pleased by the speech.  We also interviewed a few Clinton delegates afterwards to get their opinion.  Most of whom said that they are democrats first and will be voting for Sen. Barack Obama in the fall.  One said that she will be voting for Sen. Obama but needs a little more time to come to terms with the idea that her 92 year old mother might not see the first female president.  This particular delegate also said that she would not be able to vote for John McCain given his position on several key issues that are deal breakers for her.  We also spoke with Sen. Chuck Schumer of New York who said that the speech was great.  He also said that he thought that Clinton’s speech hit just the right note because it gave people reasons to be for Sen. Obama rather than to simply vote for Sen. Obama.  Sen. Schumer went on to say that the speech had substance and stressed the importance of helping the middle class.  He said that the speech was “well done, well thought out, and given with real conviction.”  Finally the Senator of New York concluded that “it wasn’t easy to do.” We also spoke briefly with Gov. Bll Richardson of New Mexico who said that the speech was “well done.” 

There were a few celebrities in attendance including Richard Dreyfuss and Jane Seymour.

As a brown-skinned woman, Michelle Obama made me very proud last night. The prospective first lady alighted the stage with grace and dignity. She began telling her story about growing up in the south side of Chicago and all the sacrifices that her parents made so that her and her brother would accomplish great things. She talked about the challenges of her father who was struck with MS at 30 years old. She talked about her passion for public service and how she left the big law firm because she wanted to give back. She emphasized how much she loves this country and how nowhere else in thie world would her story be possible. She also empasized her family as her top priority. Mrs. Obama did it with a gracefulness that was illuminating. Being on the floor with all the energy was absolutely amazing. Witnessing Mrs. Obama hit every point that she needed to hit made it the most memorable speech given by a prospective first lady that I have ever heard. She handled herself with grace, style, and dignity. When Mrs. Obama hit the stage the crowd went absolutely wild. Mrs. Obama had the crowd with her and everyone in the convention hall, from what this writer observed, exuded excitement. Mrs. Obama told her personal story in a direct and deeply personal way. She reminded us all why we are so inspired and excited by her husband. Then to top it off her two little girls, Malia and Sasha, hit the stage and gave a real peek into the lives of the Obama family. It was absolutely AMAZING!!

If this is not a reason to suspect Sen. John McCain’s judgment I don’t know what is.  Last Monday, Rush Limbaugh suggested on his show that John McCain go out to an oil rig and give a speech in support of his proposal to drill offshore.  A great photo-op said Limbaugh.   Yesterday, all of sudden, the McCain campaign announces that it will be giving a speech from an oil rig to counter Obama’s speech in Berlin. Are you serious???  McCain is taking strategy suggestions from the guy who proclaims himself the leader of the dittoheads…seriously…….I mean seriously!! 

A funny thing happened on the way to the rig.  The actual rig where McCain was set to deliver his speech is very near the 400,000 gallon oil spill that occurred yesterday in the Mississippi River.  There is a time when you have to ask yourself……is the universe trying to tell me something?   I can’t remember when the last time we had an oil spill this big….and the day before McCain campaign is scheduled to give a speech on how offshore drilling is the panacea for solving all our energy problems. 

This is a description of the disaster by a local paper:

Residents in Algiers, Gretna, St. Bernard Parish and Plaquemines Parish are also being asked to conserve water, as water intakes for those communities are closed to prevent contamination of the drinking water supply. Water flowing through the tap is from reserve supplies, which could run out in many areas by afternoon or early evening, officials said.

Oil from the spill is visible along the New Orleans riverfront, with a thick coat of black muck washing up along the rocks near the Moonwalk. Farther away from the bank, the muck broke off into small islands.

A thick blanket of oil stuck to the hull of a Coast Guard cutter patrolling the area between the wrecked barge and the riverfront near the Aquarium of the Americas. The surrounding air there smells like it would near a gas station or in a traffic jam, only stronger.

The McCain campaign claims that the photo-op was cancelled due to weather.  WE THINK NOT!  An oil spill of this magnitude does not exactly bolster McCain’s position for offshore drilling.  Can you say poetic justice??!

Not to mention the fact that this is what happens when you take campaign strategy advice from, of all people, Rush Limbaugh!!  Are you kidding me? 

Highlights of Obama’s economic plan:

– A $50B stimulus package

–Tax cut for the 90 percent of Americans making less than $250,000 a year

– A $1K tax rebate for 95 percent of workers and their families

– Eliminate income taxes entirely for seniors making less than $50K

– A $4K college tax credit

– Eliminate capital gains taxes for small businesses and start-up companies

– And a promise to “cut health care costs by $2,500 annually for the typical family” 

Barack Obama Economic Plan

An Agenda for Middle-Class Success

Press Avail

Monday, July 7th, 2008

St. Louis, Missouri
As prepared for delivery
Since we had to change venues this morning, I just want to speak briefly about the economy for a few minutes and then I’ll take your questions.

This is going to be a defining issue in this campaign, because Senator McCain and I have very different views of where our economy is today, and where we need to go.

Senator McCain said earlier this year that America has made “great progress economically” over the past eight years. He believes we’re on the right track, and he’s launching a new economic tour today with policies that are very much the same as those we have seen from the Bush Administration.

In fact, the central component of Senator McCain’s economic plan is $300 billion more in tax cuts for big corporations and multimillionaires – less than a quarter of which will benefit the 80% of American families that make up the bulk of our middle-class. Less than a quarter.

Under Senator McCain’s economic plan, Exxon Mobil – a company that recently reported the biggest profit in history – would get $1.2 billion in tax breaks, while less than a quarter of the benefits would go to the middle-class. What’s worse – he has no concrete plan to pay for these tax breaks, so his policies would actually add more than $2 or $3 trillion to the national debt over the next decade and weaken our economy even further. If this sounds familiar, it’s because it’s exactly what George Bush has done for the last eight years

Now, I won’t stand here and pretend that we can or should undo the economic transformations that have taken place over the last few decades. There are jobs that aren’t coming back and this world will always be more competitive. But I do believe that if all of us are willing to share the burdens and benefits of this new economy, then all of us will prosper – not just because government makes it so, but because we’re willing to take responsibility as individuals to work harder and think more and innovate further.

Last week I outlined an agenda to keep America competitive by providing all Americans with a world-class education, investing in researching and innovation, devising an energy policy that creates job and reduces our oil dependence, and making sure that our trade policies work for American workers.

But today I want to talk about my plan to not only ensure the economic security of middle-class families in the short-term, but to give them the chance to achieve economic success in the long-term; to make sure that Americans aren’t just getting by, but getting ahead – that they’re able to get a world-class education, build a nest egg and provide a better life for their children.

The first step is to offer immediate relief to families who are struggling right now while helping to jumpstart economic growth and create jobs. Between a sluggish economy and gas prices rising above $4 a gallon, the American people cannot wait another six months for help. Instead of Washington gimmicks like a three-month gas tax holiday that will only pad oil company profits, we need to do what I called for months ago and pass a second stimulus package that provides energy rebate checks for working families, a fund to help families avoid foreclosure, and increased assistance for states that have been hard-hit by the economic downturn. A few days ago I called on Senator McCain and all members of Congress to come together – Republicans and Democrats – in support of this $50 billion stimulus package. There are many policies we’ll disagree on, but immediate relief for families who are struggling shouldn’t be one of them. And so while I haven’t received a response from Senator McCain yet, I look forward to hearing one soon.

The second step in my agenda is to help provide economic security for families who’ve been dealing with skyrocketing costs and stagnant wages for years. I believe it’s time to reform our tax code so that it rewards work and not just wealth. So when I’m President, I’ll shut down the corporate loopholes and tax havens, and I’ll use the money to help pay for a middle-class tax cut that will provide $1,000 of relief to 95% of workers and their families. We’ll also eliminate income taxes for every retiree making less than $50,000 per year, because every senior deserves to live out their life in dignity and respect.

And if Senator McCain wants a debate about taxes in this campaign, that’s a debate I’m happy to have. Because if you’re a family making less than $250,000, my plan will not raise your taxes – not your income taxes, not your payroll taxes, not your capital gains taxes, not any of your taxes. In fact, what Senator McCain should explain is why his tax cut for the middle class would leave out 101 million households, and why, for families that are lucky enough to get the tax cut, it would be worth only about $125 in the first year. The difference is – he trusts that prosperity will trickle down from corporations and the wealthiest few to everyone else. I believe that it’s the hard work of middle-class Americans that fuels this nation’s prosperity.

I’ll also help families who are struggling under the crushing burden of health care costs by passing a plan that brings the typical family’s premiums down by $2500 and guarantees coverage to everyone who wants it. Senator McCain’s health care plan not only fails to cover every American and holds out less hope of cutting health care costs, it would actually tax your health care benefits for the first time ever. Over time this tax would grow and after just a few years it would be so large that middle-class families would face an overall tax increase from his plans. So that is a real choice in this election.

As we help families deal with rising costs, we also have to help those families who find themselves mired in credit card debt. That’s why I’ll establish a Credit Card Bill of Rights that will ban unilateral changes to credit card agreements; ban rate hikes on debt people already had; and ban interest charges on late fees. I’ll also reform our bankruptcy laws to make sure that if you can demonstrate that you went bankrupt because of medical expenses, you can relieve that debt and get back on your feet.

But even as we take these steps, we also know that it’s not enough to just get families back on their feet. We need to help hardworking families get ahead. That’s why the third step in my agenda is to give families the help they need to build that nest egg and provide a better life for their children.

To make saving easier, we’ll automatically enroll every worker in a workplace pension plan that stays with you from job to job. And for working families who earn under $75,000, we will start that nest egg by matching 50 percent of the first $1,000 you save and depositing it directly into their account.

To make a college education affordable for every American family, we’ll provide $4,000 of tuition if students will provide community or national service when they graduate. To make it easier for families to own their own home and stay in that home, we’ll crack down on predatory lenders, help more Americans refinance their mortgages, and provide ten million homeowners a mortgage tax credit that will take ten percent off their interest rate.

To help those mothers and fathers who are juggling work and family, I’ll expand the Child Care Tax Credit, extend the Family Medical Leave Act, and make sure that every worker in America has access to seven days of paid sick leave. I’ll make sure that women get equal pay for an equal day’s work. And to help those families who own small businesses that are the engine of prosperity in America, I will eliminate all capital gains taxes on start-ups and small businesses to encourage more innovation and job creation.

There is no doubt that this agenda is ambitious. It will take resources in the wake of policies our debt like a war in Iraq that’s costing us $10 billion a month. But the answer to our fiscal problems is not to short-change investments that will help our families get ahead – investments that are vital to our long-term growth as a nation. The answer is to make sure that we are finding a way to pay for these investments but cutting where we can. My plan is detailed and specific when it comes to cutting spending. In fact, all my new spending proposals would be more than paid for by spending reductions. I have a plan to responsibly end the war in Iraq and reduce overpayments for private plans in Medicare, something John McCain has no specific plan to do. I would also curb subsidies to banks making student loans, return earmarks to their 2001 levels and reform no-bid contracts. I do this because I believe we can have a smarter government that pays its way while investing in our country’s future.

John McCain Speech on the Economy 

Thank you very much. I appreciate the hospitality of the National Federation of Independent Business. And I am honored to be in the company of so many men and women who represent the best of American enterprise.

I have never run a small, struggling enterprise — unless you count my presidential campaign last year. But I do know that more than anything else, small businesses are what make the American economy run. You’re the ones who take the risks, often with little start-up money and nothing to fall back on. You are the ones who do most of the innovating in this country, and most of the hiring, too. For women, for immigrants and for people of every background, small businesses are the path to success and to the American dream.

In this very tough time for our economy and for workers and families across our country, job creation among small businesses is crucial. The African-American and the Hispanic-American small business communities are one of the fastest growing segments of our economy. That is a credit to the entrepreneurs of America, and America’s prosperity depends on your success.

Job creation is just one reason why the government should never take the hard work, sacrifices, and earnings of small businesses for granted. As president, my goal will to get our economy running at full strength again. And that starts by supporting small businesses across America.

Now that we know who I will be facing in the general election, the real debate over economic policy can begin. And as you may have heard, Senator Obama and I might well be meeting soon in a series of town hall discussions. Just the two of us, in direct conversation with voters. No need to turn it into a big media-run production with process questions from reporters, a spin room, and all the rest of it. To keep things friendly, I also suggested that my opponent and I travel to these town hall meetings together in the same plane.

Our disagreements in these town hall meetings will be civil and friendly, but they will also be clear for all to see. On tax policy, health-care reform, trade, government spending, and a long list of other issues, we offer very different choices to the American people. And those choices will have very different consequences for American workers and small business owners.

Read the rest of this entry »

John McCain recently spoke at Wake Forest University and during his speech about appointing “activist judges,” McCain also spoke about eminent domain.  In doing so, McCain made the following statement:

There is a very clear standard in the Constitution requiring not only just compensation in the use of eminent domain, but also that private property may NOT be taken for “public use.” (video)

For those who are who are unable to summon up that high school constitutional law class, the doctrine of eminent domain is the exact opposite of McCain’s statement.  The core concept of eminent domain, as described in our Constitution, is that the government CAN take private property for public use as long as the owner of such property is justly compensated.  It is exceedingly important that our future President has a grasp of the issues that are facing our country.  During the next administration, at least two Supreme Court justices may retire.  Therefore, the new President will likely be appointing two new Supreme Court justices.  One important pre-step to that process is reading the bleeding CONSTITUTION!  Especially if you are giving a speech about the justice selection process.  McCain has already admitted to not knowing much about the economy and is now demonstrating that his grasp of the Constitution also leaves much to be desired.  This is not a one issue presidential election.  With so many challenges facing our country, we need a person who is knowledgeable across the board about all issues.  Not to mention the small fact that this is the document that our country was founded upon.  Perhaps this is something that McCain has very little interest in, similar to the economy, and therefore cannot be bothered to take the time?  Another thing that is really disturbing about this particular McCain mistake is that the McCain campaign attempted to cover it up.  If you go to the page on McCain’s website  the video and the statement has been doctored.   This is troubling and is very reminiscent of Bush administration tactics.  If you don’t like the record, alter it.  What happened to the man who talks about integrity and “straight talk?”  I can assure you that altering the record because you disagree with what you said is not by definition “straight talk.”  It’s more like CYA.  It is very important that we as voters know our candidates strengths and weaknesses thereby enabling us to make an informed decision about who should be the next leader of the United States.  When candidates start altering the public record and skewing voter access to critical information then that candidate is essentially lying to the American people. 

Philadelphia Inquirer Editorial:

With his brilliant speech on race relations yesterday at the National Constitution Center, Barack Obama showed why his campaign for president has the aura of a mission.

Pittsburgh Post-Gazette Editorial:

As an example of contemporary oratory, it was stunning. As political rhetoric, it was designed to do far more than damage control and, in the end, distilled the essence of his candidacy.

New York Times Editorial:

We can’t know how effective Mr. Obama’s words will be with those who will not draw the distinctions between faith and politics that he drew, or who will reject his frank talk about race. What is evident, though, is that he not only cleared the air over a particular controversy — he raised the discussion to a higher plane.

Los Angeles Times Editorial:

No single speech will recalibrate America’s consideration of race and politics, but we are closer today, thanks to this remarkable address, to facing our history and perfecting our nation.

Dallas Morning News Editorial:

Has any major U.S. politician in modern times ever given a speech about race in America as unflinching, human and ultimately hopeful as the one Barack Obama delivered yesterday? …

It was possibly the most important major speech on race in America since Dr. King died, and it probably saved Mr. Obama’s candidacy. If, in the end, Barack Obama does not win the nomination, let it never be said that he did not serve his country.

Chicago Sun-Times Editorial:

So Obama, in that exceptional way he has of brushing aside polemics, stepped up to a podium in Philadelphia and challenged us to see all the shades of gray, to embrace our greater and shared humanity.

It was a moving moment in American history to hear a man who could be president dissect the rancorous matter of race with such candor, and it called to mind other piercing addresses by the likes of FDR, Kennedy and King.

Sacramento Bee Editorial:

This was not a campaign speech; it was Barack Obama speaking to the ages. Clearly, he has thought about this issue for a very long time. Americans can learn from him, no matter what course the campaign may take.

Boston Globe Editorial:

… Obama took the opportunity to engage the question of race in America, starting a bold, uncomfortably honest conversation. He asked Americans to talk openly about the deep wells of anger and resentment over racism, discrimination, and affirmative action. It’s a call to break out of the country’s racial stalemate and finally reach a new national understanding.

Seattle Times Editorial:

In the annals of American history, a watershed moment should come from “A More Perfect Union,” Sen. Barack Obama’s powerful speech linking 221 years of race relations.

Washington Post Editorial:

Mr. Obama’s speech was an extraordinary moment of truth-telling. He coupled it with an appeal that this year’s campaign not be dominated by distorted and polarizing debates about whether he or his opponents agree with extreme statements by supporters — or other attempts to divide the electorate along racial lines. Far better, he argued, that Americans of all races recognize they face common economic, social and security problems.

St. Louis Post-Dispatch Editorial:

On Tuesday morning, at a moment of maximum peril to his own ambitions, Sen. Barack Obama delivered not just a speech, but an extraordinary gift to America: A way to transcend racial divisions and political cynicism and set about the task of forming a more perfect union.

The 45-minute address, delivered to an audience of 200 elected officials and religious leaders at Philadelphia’s Constitution Center, would have been remarkable under any circumstances. Under the circumstances that beset the senator from Illinois, it was the equivalent of a World Series walk-off grand-slam home run, a singular moment in the history of American political rhetoric.

Houston Chronicle Editorial:

Obama, confronted with flaws in his own church “family,” passes these tests. His thoughtful exploration of those flaws certainly was good for his campaign. But by fully and realistically exploring and discussing the hard topic of race, Obama did more. He showed deep understanding of this complex culture, and faith in the strength of the national family.

Newsday Editorial:

The complex calculus of racial animus in this nation is real. And it is powerful. And, as Obama said, “to simply wish it away, to condemn it without understanding its roots, only serves to widen the chasm of misunderstanding that exists between the races.” This nation needs to bridge that chasm. One speech won’t do it. Nor will one candidacy. But it would help if we stop using race as a political cudgel.

Charlotte Observer Editorial:

But Sen. Obama had a larger purpose in mind: not merely to handle a political problem, but to talk about race and the future of America. In a quiet, insightful, at times powerful speech he examined the reasons for both anger and hope. It was a message our nation sorely needs to hear, and one he is uncommonly qualified to deliver.

Newark Star-Ledger Editorial:

This was not a speech written by a political spinmeister just back from taking the pulse of the latest focus group. It was the heartfelt speech of a man who has spent a good part of his life thinking about what it means to be an American.

Milwaukee Journal-Sentinel Editorial:

When we think of words in politics or governance that had to be said, we think of the Gettysburg Address or Franklin Delano Roosevelt’s admonition that all we had to fear was “fear itself.” And now we think of Obama’s speech on race - words that sorely needed saying.

San Jose Mercury-News Editorial:

If Obama is, as we hope, the leader who can draw people across political divides to create real change and a renewed optimism in America, then confronting race head-on was inevitable. Perhaps Pastor Wright did us all a favor.

The Oregonian Editorial:

But every American, young and old, should hear this speech. Obama certainly isn’t a post-racial candidate, if there is such a thing, and he didn’t claim to be one Tuesday. But he did offer an inspiring vision of a nation where unity eclipses division, and where the identity we cherish most is the one we all share:

American.

Des Moines Register Editorial:

His speech was frank and honest. And it offered hope that by confronting the racial resentments that continue to divide us, this nation can move forward toward becoming a more tolerant and understanding place.

Rochester Democrat and Chronicle Editorial:

Then again, Obama has already astounded conventional wisdom with the progress he’s made in this year’s presidential campaign. For the nation’s sake, hope that America’s conscience was at least pricked to want to do better.

Kansas City Star Editorial:

It would have been politically expedient for Obama to disown Wright totally. But in a reflection of his own integrity, Obama said Wright was instrumental in the development of his faith and had other virtues that his critics were ignoring.

Eugene Robinson, Washington Post:

Yesterday morning, in what may be remembered as a landmark speech regardless of who becomes the next president, Obama established new parameters for a dialogue on race in America that might actually lead somewhere — that might break out of the sour stasis of grievance and countergrievance, of insensitivity and hypersensitivity, of mutual mistrust.

Andrew Sullivan, The Daily Dish:

I have never felt more convinced that this man’s candidacy - not this man, his candidacy - and what he can bring us to achieve - is an historic opportunity. This was a testing; and he did not merely pass it by uttering safe bromides. He addressed the intimate, painful love he has for an imperfect and sometimes embittered man. And how that love enables him to see that man’s faults and pain as well as his promise. This is what my faith is about. It is what the Gospels are about. This is a candidate who does not merely speak as a Christian. He acts like a Christian.

Courtland Milloy, Washington Post

Rep. Elijah E. Cummings (D-Md.), who co-chairs the Maryland for Obama campaign, hit the nail on the head when he told me: “Obama has the ability to elevate our thinking beyond the chicken-yard scratching and biting. He calls on us to soar like eagles. And if he can’t always take you there, he can sure dare you to go.”

David Corn, MotherJones.com:

With this address, Obama was trying to show the nation a pathway to a society free of racial gridlock and denial. Moreover, he declared that bridging the very real racial divide of today is essential to forging the popular coalition necessary to transform America into a society with a universal and effective health care system, an education system that serves poor and rich children, and an economy that yields a decent-paying jobs for all. Obama was not playing the race card. He was shooting the moon.

John Dickerson, Slate:

Can you give a State of the Union address before you’re president? Barack Obama talked about race in America for 45 minutes in a nearly 5,000-word speech. That was longer than some of the annual presidential addresses, and though, yes, those speeches tend to cover more topics, this one felt like it addressed the actual state of our union more than those dreary January list readings presidents are obligated to perform.

Janny Scott, New York Times:

Yet the speech was also hopeful, patriotic, quintessentially American — delivered against a blue backdrop and a phalanx of stars and stripes. Mr. Obama invoked the fundamental values of equality of opportunity, fairness, social justice. He confronted race head-on, then reached beyond it to talk sympathetically about the experiences of the white working class and the plight of workers stripped of jobs and pensions.

Jonathan Alter, Newsweek:

In introducing the speech, Harris Wofford, the former senator from Pennsylvania, hinted at the historic weight that hung over the occasion. Wofford, a friend of Martin Luther King Jr.’s and a onetime adviser to President John F. Kennedy, recalled a White House conversation with King, after Kennedy had informed King that there would be no quick vote on the sweeping civil rights legislation pending. “Martin turned to me and said, ‘I had hoped we at long last had a president who had the intelligence to understand this problem and the political skill to solve it and the moral passion to see it through. I’m convinced … that he has got the intelligence and the skill. We’ll have to see if he has the passion’.”

Wofford suggested that Obama did in fact possess all three qualities. The critics, reporters, cable commentators—and ultimately the voters—will all be weighing that assertion in the aftermath of the most personal and extensive discussion of the legacy of slavery made by any major American politician in memory. For the moment, Obama gave them much more to talk about than the sermons of Jeremiah Wright.

Jim Mitchell, Dallas Morning News:

Politicians rarely achieve such a depth of humanity, in part because they’re captive to narrow life experiences, rigid ideology or consultants. It’s one thing to know intellectually that race is still a factor in American life and how it polls. It’s quite another to eloquently express the profound stain of past racial injustices without being trite, hostile or unabashedly partisan.

Jon Robin Baitz, Huffington Post:

Today we saw and heard a preview of our brightest possible American future in Senator Barack Obama’s glorious speech. This, then, is what it means to be presidential. To be moral. To have a real center. To speak honestly, from the heart, for the benefit of all. If there was any doubt about what we have missed in the anti-intellectual, ruthlessly incurious Bush years, and even the slippery Clinton ones (the years of “what is is”), those doubts were laid to rest by Barack Obama’s magisterial speech today. A speech in which he distanced himself from a flawed father figure, Reverend Wright, and did so with almost Shakespearian dignity and honor.

Obama - A GREAT speech, from a non-supporter

This diary is written by Miss Blue from DailyKos

Many of you are very aware I am not, and have not been a supporter of Barack Obama.This is not because I support Hillary Clinton - in fact, I like/dislike Hillary and Barack equally, for very different reasons.  My goal for 2008 is to see a Democrat in the White House.  I felt there were problems with both of the remaining candidates being elected.  I supported John Edwards, in part because I felt he was the most electable in the general election.  We can see where that went.  After watching Hillary throw her campaign in the toilet, I long ago realized that Obama would be our nominee, and I have hoped for the best.  The Wright controversy made me feel we were doomed.  I have called for Obama and his supporters to address this issue, strongly and unequivocally. I have been roundly chastised by the Obama fans on this site.  Called a Republican, accused of voting for John McCain, accused of being a Hillary-bot, accused of hating Obama with the fire of a thousand suns.  None of which are true, but so goes the hyperbole on this site these days.  This speech is what I wanted to hear.  It is truly heartening to see Obama is far better at reading the average voter than are many of his supporters on this site. Being skeptical that he could put this issue to rest with one speech, or ten, I am coming away from it feeling very heartened.  It was a great speech, perfect in it’s tone and it’s talking points.   Without throwing a decades-long friend to the wolves, Obama completely renounced the inflammatory anti-America statements of Rev. Wright.  This shows me loyalty, to friends and to country.  It shows me wisdom, and political acumen.  It shows me sensitivity, to human emotions and political whim.   Senator Obama addressed the racial divide without casting blame.  He shut down the black vs. white argument that has been threatening to take over this Presidential election.  Blame for fueling a divide was put where it belongs - the Rush Limbaughs, the Sean Hannitys, the conservative coalition, the corporate whores who have used racial divides for their financial gain.  Obama’s speech was inclusive, rather than divisive.  All minorities were included in those who have suffered discrimination - not just black, but poor, women, hispanics, migrants of all ethnic backgrounds.  As a non-supporter going into this speech, and a white Catholic woman who figured I wasn’t involved in this issue other than as a worried Democrat, I felt included.  I felt like I mattered, even in a speech who’s main topic was supposed to be a Baptist preacher and his inflammatory remarks.   This speech, in my view, is the most important one of his career, as it determines where his political career is going in the near term.  He hit it out of the park.   Bravo.  And for that, Senator Obama, you have gained one more supporter.

Mitt Romney has just dropped out of the republican race for president of the United States.  Mitt Romney has effectively suspended his campaign.  Two remaining.  I suspect that we will be hearing from Mike Huckabee soon.  Mitt Romney will confirm his decision during his speech today at CPAC . CPAC is the Conservative Political Action Conference and is hosted by the American Conservative Union.  Romney said during his speech that if he were to continue, he would be aiding a Clinton or Obama win.  The former Massachussetts govenor said that he disagrees with McCain on a lot of issues but agrees with him regarding the Iraq war.  Romney then said that in this time of war, he must step aside. My question is…what will Huckabee and McCain do now that they don’t have Romney to pick on?  For now, it seems that Huckabee will continue his campaign and will speak to CPAC tomorrow morning in an attempt to convince it that he is the viable conservative candidate.