McCain´s Political Gamble
Rizwan Ghani
September 25, 2008
The million-dollar question is why McCain did what he did. The answer is the Economy. The current economic crisis with Republican president occupying the White House in second term leaves little political space for McCain to go out to the voters and sell himself as their man and upcoming Friday´s faceoff with Obama in presidential debate was not the start McCain wanted in a close election.
He therefore, resorted to an unprecedented political gamble by unilaterally suspending his campaign for political resuscitation on the pretext of building bipartisan support on Capitol Hill. It is nothing but Bush´s supporter running to save his old friend and mentor at the cost of average people and their tax money.
McCain move to suspend the campaign has been termed as holding political process hostage for (his) personal gains. He has made passage of bailout package conditional to his return to Friday debate. McCain campaign has also asked for moving of VP debate forward by one week to Thursday which has enraged Palin skeptics who believe Republicans are trying to save their VP candidate from one more week of media scrutiny. ´It is an attempt to get Palin elected without America to know her´, remarked one commentator on CNN. McCain cannot hold political process hostage to financial crises. Obama aptly pointed out his post-address press conference that Presidents have to deal with more than one problem at a time. Things don´t come to a stop due to single event.
McCain´s campaign suspension decision is a serious reflection on his administrative abilities. It is a failed attempt to avoid facing America on economic crisis. Obama has a point in going ahead with the Friday debate. He said that the debate should go on because America needs to hear from a person, who could be country´s president in 40 days, how he plans to deal with this mess.
McCain dash to Washington to save Wall Street has drawn strong comments on Main Street. Average Americans failed to see McCain acting with similar fervor during Katrina crisis, Gustav victims or mortgage meltdown.
McCain calling for bipartisan support is all but hard politics. He represents the Republicans economic model supporting deregulation, no accountability of Wall Street and corporate America. Democrats stand basic principles of 1936 New Deal including accountability, which Republicans abhor. Logically speaking despite agreeing Obama should not be part of joint statement. Obama has promised to should support what is good for American people.
The Democrats should stay on watch because had this financial crisis unfolded during Obama´s presidency the Republicans would have been singing a different tune. Similarly, the 14 percent rating of Congress with Democrat majority leaves little space for a misstep by Obama and the Democrat Party leadership.
Obama´s short statement clearly shows that Democrats have a clear understanding of what needs to be done. In view of Obama´s statement and press conference it can ascertained that at this stage Democrats plan to protect the interest of taxpayers, pensioners and homeowners, only, no welfare program for irresponsible Wall Street and form an independent board that will deal with: 1) complex issues including banking reforms and improvement of regulations in due course of time. 2) protect interests of tax payers/investors in case of any bailout. The Republicans should be careful at this stage seeking an immediate bailout for greedy and unscrupulous Wall Street while America watches.
Average America is not interested in financial crisis vehemently touted by the Republicans because it has nothing to do with public health plans, education improvement or hourly wage increase. The fuss is all about extending golden parachutes to handful of unscrupulous corporate executives who have been bluffing the stockholders with allegedly false information. Reportedly, FBI´s financial watchdog is already in advanced state of investigation. It is said that some 26 companies including four investment institutions have already been included in the process to investigate mortgage fraud, misleading of shareholders and relevant laws.
McCain by bringing presidential campaign to Washington is trying to give a message to America as if Bush is no more the president, which is so wrong. Bush is the president and he is doing what needs to be done to end the crisis. In all probability McCain in his zeal to support his financers and Bush is undermining the office of the president.
The progress on the financial crisis should determine Obama´s visit to Washington not what McCain wants. Obama is not going to follow McCain. The Republicans instead of pushing for Obama´s presence in Washington need to respond to six points position of Democrats on the crisis first to initiate the process for bipartisan consensus that in turn will bring president in the picture. McCain cannot reverse the process. There is little concrete progress on Democrat proposal out there to protect interests of the taxpayers, pensioners and mortgage crisis victims.
Obama´s short statement and press conference has shown that he and his party are in control to save interests of average American. Similarly, McCain´s gamble to suspend the campaign has exposed his weakness as leader and raised serious questions about his capability to deal with 3 a.m. morning telephone call crisis. In all fairness, McCain should resume his campaign in country´s political interest, let America hear his solutions to historic economic crisis and salvage what little is left of his political future following his political gamble.
Finally, in case there is a bailout deal on economic crisis by Friday it will leave Democrats high and dry because economy is now the eye of US presidential election campaign. US presidential elections at this stage are more about tactics than substance and McCain aware of his falling ratings by returning to Washington is trying to show Republicans that he is their ´Maverick´ troubleshooter who is willing to go an extra mile and in the unprecedented move, he has staked his bid for presidency.
He therefore, resorted to an unprecedented political gamble by unilaterally suspending his campaign for political resuscitation on the pretext of building bipartisan support on Capitol Hill. It is nothing but Bush´s supporter running to save his old friend and mentor at the cost of average people and their tax money.
McCain move to suspend the campaign has been termed as holding political process hostage for (his) personal gains. He has made passage of bailout package conditional to his return to Friday debate. McCain campaign has also asked for moving of VP debate forward by one week to Thursday which has enraged Palin skeptics who believe Republicans are trying to save their VP candidate from one more week of media scrutiny. ´It is an attempt to get Palin elected without America to know her´, remarked one commentator on CNN. McCain cannot hold political process hostage to financial crises. Obama aptly pointed out his post-address press conference that Presidents have to deal with more than one problem at a time. Things don´t come to a stop due to single event.
McCain´s campaign suspension decision is a serious reflection on his administrative abilities. It is a failed attempt to avoid facing America on economic crisis. Obama has a point in going ahead with the Friday debate. He said that the debate should go on because America needs to hear from a person, who could be country´s president in 40 days, how he plans to deal with this mess.
McCain dash to Washington to save Wall Street has drawn strong comments on Main Street. Average Americans failed to see McCain acting with similar fervor during Katrina crisis, Gustav victims or mortgage meltdown.
McCain calling for bipartisan support is all but hard politics. He represents the Republicans economic model supporting deregulation, no accountability of Wall Street and corporate America. Democrats stand basic principles of 1936 New Deal including accountability, which Republicans abhor. Logically speaking despite agreeing Obama should not be part of joint statement. Obama has promised to should support what is good for American people.
The Democrats should stay on watch because had this financial crisis unfolded during Obama´s presidency the Republicans would have been singing a different tune. Similarly, the 14 percent rating of Congress with Democrat majority leaves little space for a misstep by Obama and the Democrat Party leadership.
Obama´s short statement clearly shows that Democrats have a clear understanding of what needs to be done. In view of Obama´s statement and press conference it can ascertained that at this stage Democrats plan to protect the interest of taxpayers, pensioners and homeowners, only, no welfare program for irresponsible Wall Street and form an independent board that will deal with: 1) complex issues including banking reforms and improvement of regulations in due course of time. 2) protect interests of tax payers/investors in case of any bailout. The Republicans should be careful at this stage seeking an immediate bailout for greedy and unscrupulous Wall Street while America watches.
Average America is not interested in financial crisis vehemently touted by the Republicans because it has nothing to do with public health plans, education improvement or hourly wage increase. The fuss is all about extending golden parachutes to handful of unscrupulous corporate executives who have been bluffing the stockholders with allegedly false information. Reportedly, FBI´s financial watchdog is already in advanced state of investigation. It is said that some 26 companies including four investment institutions have already been included in the process to investigate mortgage fraud, misleading of shareholders and relevant laws.
McCain by bringing presidential campaign to Washington is trying to give a message to America as if Bush is no more the president, which is so wrong. Bush is the president and he is doing what needs to be done to end the crisis. In all probability McCain in his zeal to support his financers and Bush is undermining the office of the president.
The progress on the financial crisis should determine Obama´s visit to Washington not what McCain wants. Obama is not going to follow McCain. The Republicans instead of pushing for Obama´s presence in Washington need to respond to six points position of Democrats on the crisis first to initiate the process for bipartisan consensus that in turn will bring president in the picture. McCain cannot reverse the process. There is little concrete progress on Democrat proposal out there to protect interests of the taxpayers, pensioners and mortgage crisis victims.
Obama´s short statement and press conference has shown that he and his party are in control to save interests of average American. Similarly, McCain´s gamble to suspend the campaign has exposed his weakness as leader and raised serious questions about his capability to deal with 3 a.m. morning telephone call crisis. In all fairness, McCain should resume his campaign in country´s political interest, let America hear his solutions to historic economic crisis and salvage what little is left of his political future following his political gamble.
Finally, in case there is a bailout deal on economic crisis by Friday it will leave Democrats high and dry because economy is now the eye of US presidential election campaign. US presidential elections at this stage are more about tactics than substance and McCain aware of his falling ratings by returning to Washington is trying to show Republicans that he is their ´Maverick´ troubleshooter who is willing to go an extra mile and in the unprecedented move, he has staked his bid for presidency.
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