Monday, September 22, 2008

Election update: Democrats will do a better job responding to the financial pandemonium?

I am a little confused why, exactly, the public thinks that Barack Obama is in the better position to deal with the financial pandemonium at hand. It is uncanny how quickly the intrade statistics changed on the day that Lehman Brothers filed for bankruptcy.

Over the last two weeks, the Fed and the U.S. Treasury have pumped hundreds of billions of dollars into the U.S. financial system. And now, with the added $700 billion blank check for bad assets that is likely to pass Congress in some shape or form, the tally is over $1,000,000,000,000! That’s 12 zeroes!

Yup, the next President is in charge of managing $1,000,000,000,000 in new debt. Why do you all think that Barack Obama will be the best man for the job?

Please leave comments. Rebecca Wilder

1 comment:

  1. He can pontificate on generalizations better than anyone.


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