erik lundegaard

Thursday September 25, 2008

NY Times Offers Lack of Leadership

Christ, the NY Times editorial did the exact same thing Gail Collins just did. They started off with a good, deserved swipe at Pres. Bush:

It took President Bush until Wednesday night to address the American people about the nation’s financial crisis, and pretty much all he had to offer was fear itself.

But then they say this about our absent leadership:

Given Mr. Bush’s shockingly weak performance, the only ones who could provide that are the two men battling to succeed him. So far, neither John McCain nor Barack Obama is offering that leadership.

Really? Both? Obama isn't offering leadership? So you keep reading and discover that the brunt of the article is about how badly McCain has handled things:

First, he claimed that the economy was strong, ignoring the deep distress of the hundreds of thousands of Americans who have already lost their homes. Then he called for a 9/11-style commission to study the causes of the crisis, as if there were a mystery to be solved. Over the last few days he has become a born-again populist, a stance entirely at odds with the career, as he often says, started as “a foot soldier in the Reagan revolution.”

After daily pivoting, Mr. McCain now says that the bailout being debated in Congress has to protect taxpayers, that all the money has to be spent in public and that a bipartisan board should “provide oversight.” But he offered not the slightest clue about how he would ensure that taxpayers would ever “recover” the bailout money.

Mr. McCain proposed capping executives’ pay at firms that get bailout money, a nicely punitive idea but one that does nothing to mitigate the crisis. And that is about as far as his new populism went.

What is most important is that Mr. McCain hasn’t said a word about strengthening regulation or budged one inch from his insistence on maintaining Mr. Bush’s tax cuts for the wealthy.

Their complaints about Obama, meanwhile, are hardly complaints:

Mr. Obama has been clearer on the magnitude and causes of the financial crisis. He has long called for robust regulation of the financial industry, and he said early on that a bailout must protect taxpayers. Mr. Obama also recognizes that the wealthy must pay more taxes or this country will never dig out of its deep financial hole. But as he does too often, Mr. Obama walked up to the edge of offering full prescriptions and stopped there.

In other words, McCain is running around with his head cut off, flip-flopping and flop-sweating all over the country, while Obama offers exactly what we need but somehow doesn't go far enough, and this, in the NY Times' mind, equals a lack of leadership from both

Somebody get me rewrite. Please.

Posted at 11:32 AM on Thursday September 25, 2008 in category Politics  
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