The Presidential Debates were proof positive that both candidates are hopelessly caught up in “PCS-Polically Correct Speak”. Even with Jim Leher’s promptings, both candidates backed away from spelling out:
1)the causes of the bailout problem ;
2)the what should be done in the short term and why it makes sense;
3)what has to be done in terms of regulations to prevent these ever more disasterous bubbles from recurring;
4)what effect these would have on the economy in general and their promises in particular.
John McCain was a broken record on earmarks and “we are going to rid ourselves of the lobbyists and excesses….”. Barack Obama had to be harangued into admitting that bailout would have an impact on his ambitious plans. But clearly Trickle Down Economics, which McCain still strangely clings to, has seen its last days if either candidate is even remotely true their promises.