Some notes from watching 60 Minutes tonight---
The McCain Interview:
John McCain said that consumers don't care whether there technically is a recession or not, but still believes the economy is fundamentally strong.
Said that he doesn't regret being responsible for deregulation
Would give tax cuts to everyone (while Obama would cut taxes for most people and raise taxes for folks making over $250K)
Said that both Bush and the Congress have gone wrong the last eight years (no irony noted over his being a member of Congress the last 26 years)
Said that Obama has changed his tune many times over what taxes would be cut
Would cut defense spending and stop subsidies, such as those for sugar
Says that he is different from Bush on spending (believes that Bush let spending get out of control, resulting in many problems), conducting the war on Iraq, climate change (would treat it as a major issue), the 9-11 commission (would have embraced it) and the treatment of prisoners (presumably would improve treatment of prisoners, although he voted with Bush on torture)
Said he has stood up to his party, where Obama has not
On whether Bush has done a good job: Bush has done a good job in preventing another terrorist attack on the U.S., but has made major mistakes. Other than that, he would let history be the judge.
Says that he is different from Obama on spending (wants to spend less), taxes (would provide tax cuts to everyone including the wealthy) and Iraq (that it was a justified war, that it should go on indefinitely as needed, and that the surge worked)
Admitted he met Sarah Palin only twice before picking her.
Avoided answering the question of whether his campaign is afraid of letting Sarah Palin talk to the media.
Said that the U.S. would be justified in pre-emptively invading a country if he was certain they were a threat to the U.S.
Said that faith is why he is here today-- that it got him through difficult times.
The Obama Interview:
What caused the financial crisis was too much deregulation and not having a regulatory system that kept pace with the markets and the financial system
How he is different from Mccain on the finanicla crisis: he has a track record of believing in regulation, whereas McCain is the architect of deregulation
Believes that we shouldn't bail out shareholders and executives, and that we should protect taxpayers and keep them in their homes regardless of what happens to financial institutions
Says we are definitely in a recession
Says that his campaign (recently) got more aggressive because the election was getting nearer, and that that the silliness of Britney Spears and lipstick was enough.
Admitted that Sarah Palin gave McCain a boost, but that people want to know more about the candidates' policies.
Said that he would be a good president because by training and disposition, he understands where to take the country; that he's a practical person that can get different people in the same room and find common ground and avoid making the kind of wrong decisions of the past eight years
Says that right away he would call in the Joint Chiefs of Staff and say that we need to find a way to bring the Iraq war to a close-- instead of of focusing on reasons why we should stay
Said that wants an overhaul to the financial system that will result in markets that are stable and will ensure that people will be able to stay in their homes
Will put in place an energy plan that will increase production and result in energy production that is more efficient
Wants a health care system that is efficient and affordable, so that more people are covered
Said that if you are making less than $250K, you would not see a single tax increase; that if you were making $150K and less-- you are definitely getting a tax cut
When asked if it was a good idea to increase taxes, he said no-- not on those making under $250K-- whom he says will have a more positive impact on the economy, as they are more likely to spend money (expanding the economy) and more likely to start new businesses and create jobs.
Says that his health care proposals will cost $150 billion, but his administration will pay for it by raising taxes on those making $250K or more, closing corporate tax loopholes, and eliminating the Bush tax cuts
Acknowledges that our troops have been successful in reducing violence; but the surge is the only measure of success. Says McCain has forgotten five years' work of Iraq history before the surge-- Iraq still doesn't have provincial elections, and that oil revenues are still not at pre-war levels.
Says that McCain stubbornly clings to all kinds of reasons for staying in Iraq-- and that even Bush is now for timetables (for withdrawal)
Nuclear-armed Iran is a threat to the U.S. and unacceptable and warrants military options if other options don't work
On whether he thinks race will be a factor in people refusing to vote for him: Probably-- but that it doesn't matter. After winning a tough primary against the best field of Democratic candidates in history and after two months and hundreds of millions of dollars of attacks from the GOP and still ends up tied with McCain (or in the lead), then he is confident in the basic goodness and fairness of Americans. People that won't vote for him because he's black are probably balanced out by those who are voting for him solely because he is black-- and it just means that he was to work harder for votes.
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