Legal Commentary

It's the Economy, McCain

By TChris

A "mountain of dismal economic news" released today will not help a McCain-Palin ticket that has no economic plan more sophisticated than "What Bush did" and "drill, baby, drill."

[T]he Labor Department said new applications for unemployment insurance rose by 15,000 from the previous week. That broadly missed expectations for a fourth-straight week of declines, and heightened worries that the average American — already feeling the effects of the weak housing market — will have even less means to spend. ... Economists are predicting the eighth straight monthly payrolls drop, and a rise in the unemployment rate.

That typical Americans have less to spend is evidenced by the absence of spending, as shown by poor retail sales figures last month. Crude oil prices dropped, but not as much as analysts expected. All of this contributed to another stock market plunge. If John McCain continues to cling to the Bushian belief that the economy is strong, he might have to worry that even the reddest of the red states will turn bright blue in November.

Will McCain come up with a realistic plan to turn the economy around? Listen for one tonight when McCain accepts his party's nomination.

Full post as published by TalkLeft on September 04, 2008 (boomark / email).