Monday, September 8, 2008

McBush & Failin': Would They Even Pass Econ 101?

Many thanks to BTD at TalkLeft for finding this:

'[T]he Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had "gotten too big and too expensive to the taxpayers." The companies, as McClatchy reported, "aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization."'

(Emphasis supplied.) Palin issued standard issue Republican nonsensical cant (See Curve, Laffer) on matters economic - which, as usual, is utter nonsense. Fannie Mae and Freddie Mac will NOW become "too expensive for taxpayers" because the government is going to bail them out. That said, the bailout plan is probably a good idea, as Krugman explains.

Is this the great gaffe of the century? Not really. To me it is standard issue GOP BS. Which seems the stronger political point to me. McCain-Palin = Bush's Third Term.

This is what we need to hit on. McCain-Palin = Bush-Cheney. None of them know how to fix the economy they broke.


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