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McCain’s Unsteady Hand

September 22, 2008

John McCain continues to prove that his “Unsteady Hands” should not steer America’s economic ship. After one of the most dangerous moments in our nation’s fiscal history occurred last week, probably worst than anything since the great depression; caused not unduly by our leaderships dereliction of its responsibility to oversee our financial institutions and regulate them as to ensure soundness – John McCain takes the occasion of his latest 60 Minute’s interview to affirm his support for less regulation.

[WATCH]

Truly, John McCain must be suffering from a great delusion. It is nearly universally ascribed by economists that the lack of “STRONG” regulation has greatly, GREATLY assisted in this economic crisis.  It was the lack of regulation that allowed the Bear Stearns and the Lehman Brothers to hedge their bets, for lack of a better term, on the Sub-Prime market, adding a level of risk that would have been unheard of before.  The nation needs to be taking copious notes – John McCain’s lack of reason in this crisis moment is a clear indication of what we can expect from him, if he were (God forbid) to win the Presidency.

However, as some of us are harder to convince than most, a further look into John McCain’s economic plan brings another scary notion – this time as it pertains to health care.

Barack Obama in a new ad, has now exposed John McCain’s intention to use the same deregulatory mind-set to approach the reform of our failing health care system.

[WATCH]

If you didn’t know John McCain was out of touch yet, that bit of information should sober you completely to any notion of his ability to administer this countries economic affairs fairly and effectively.

About 60 percent of all Americans, 180 million people, get health insurance through their job or from a family member. If John McCain has his way, we will find ourselves in the midst of a “free market” run on health care, which would result in a dismantling of the employer based health care system that has been the back-bone of American heath care since “The Greatest Generation” came back from war.  Instead we would have a hard bargained private insurer based system that would have such high administrative overhead that we (the consumers) are likely to find ourselves paying higher premiums for lesser protection.

All in all a poor alternative to our current broken system.

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