Thursday, October 23, 2008

Burbank vs. Winn in the CT-5

Ok... this post doesn't have much to do with either Harold Burbank or Tom Winn... but I'm tired of the two-party system in which others are blocked from debates... debates which should be a debate of ideas.

And what sort of debate is America hearing between McCain and Obama?

Obama: "I support the $850 billion bailout!"

McCain: "Senator Obama is a big spender! We should only support the $700 billion bailout!"

There is far too little debate of ideas because everyone agrees that we "need" to spend more money.

Anyway, the Litchfield County Times has an interesting piece on the CT-5 race:

State Sen. David Cappiello (R-Danbury), the GOP candidate in the Fifth District, said that the United States, starting with the federal government, is a savings-short country that has relied far too heavily on credit.

I absolutely agree. And I'm happy to say that, barring any unforeseen circumstances, I'm expecting to finally have my credit cards paid in full within a week or so... that's a big deal to me. Credit card debt is a pet peeve of mine.

The article continues:

New York Times columnist David Brooks reported in June that national credit-card debt went from $238 billion in 1989 to $937 billion last year.

From there it paints a picture of Cappiello saying that Washington, including Murphy, has failed America. I agree. But more on the Washington part, than on the Chris Murphy part. Thing is, I absolutely view Dodd as having been a major part of this problem... but not Murphy. He's only been there two years.

Further on, I agree with Cappiello that the Congress has failed to uphold its "pay-as-you-go" promise. Else they would've had to cut $850 million in spending when they bailed out those Wall Street Billionaires. And when has Congress ever met a spending cut it liked?

Speaking of the bailout... about a month ago I detailed that all the recent bailouts were up to $2 trillion. But more recently I've heard the bailout is now in the $4 to 5 trillion range. I'm not entirely sure how, but believe it has something to do with America's Central Planners at the Federal Reserve issuing huge amounts of new credit that weren't included in the bailout.

This whole thing stinks. I wish I could cast a vote against The Incumbent Party. I know Pelosi and Reid aren't about to get booted... but Porkmeisters McConnell and Stevens may get tossed... so that'd be a start.

Tim White

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