Election 2008
Debate Season Over….Finally

I don’t know about you but I am glad the debate season is over. They were yawners by and large. BO was the Teflon man…deflecting everything with his mantra that we “can’t afford 8 more years of failed Bush policies.” McCain was choppy in his answers and never went for the throat when given the opportunity. I heard some wag during this whole process say the both acted like senators, not presidential candidates. Neither inspire as leaders. BO is just trying not to lose; McCain is just trying…..

It seems pretty clear that barring a catastrophic event…BO will be the next POTUS. I have repeated many times to many people, whomever is elected with be a one termer. The problems are so large and systemic that the next POTUS will have grave difficulty in forging solutions. Look at the credit crisis. How much more can the government do? The Fed can cut rates again, but it will take a great deal of time to melt the lending ice jam. And, the economic crisis is still coming with a recession of who knows what magnitude upon us. The next POTUS can undoubtedly make things worse will ill advised policies, but I have a hard time seeing how he can make things better.

There will be some unfortunate outcomes of BO as POTUS. Here are a few:

1] There will be much gushing about how we have so progressed in this country by electing our first African American POTUS. I cannot remember a POTUS election cycle where the media, electronic and print, have so wanted on candidate to win. While I believe a lot of it is hatred of Geo. W. Bush and identifying McCain with him, there is a fair amount of rooting for a history making election. Why? So all the journalists can say I was there when it happened and write books about this new chapter in American history. Moderator of the VP debate anyone? In many ways this sociological factor outweighs who would be a better governor of the country.

2] With the Democrats in charge of the Executive and Legislative the investigation of the credit mess will lay the blame squarely on Wall Street ignoring the Dodd/Schumer/Frank Trinity who forced the risky lending principles on the banks and the public. These guys were big on the $700B bailout because they hope these funds can be used to cover their dirty laundry. CEOs will be correctly castigated and some many even make a visit to the Big House. But, it will be difficult to get the full picture and expose all the Congressional shenanigans in hearings controlled by Democrats and with an administration of Democrats.

3] The SCOTUS will not be changing its composition. With BO as POTUS we will have expansionist interpreters of the Constitution replaced by like minded folk. So, the 5-4 decisions will continue and there will be continual chipping away on strict construction. And, heaven forbid if one of the strict constructionists dies and has to be replaced while BO is President. Then, there will be change….and maybe that is what BO means with his change talk.

4] Another outcome of Democratic control of Executive and Legislative will be the increase of tax and spend policies. That is a tandem that goes together in policies of Democrats. And, BO’s tax breaks to 95% of the population…those earning <$250k…is actually the biggest move to income redistribution in decades. Between 35 and 40 % of Americans do not pay taxes today. So, their tax break would be to receive money from the government as a tax credit is not a break to one who does not pay taxes. And, where does that money come from? Taxpayers…which is why McCain [awkwardly] tried to make the “Joe the Plumber” connections in last night’s debate. This is what BO meant in his comment to Joe that BO wants “to spread the wealth around”.

5] The Acorn voter fraud story will be buried. As it now stands, BO looks to win decisively and if he does, there will not be any further inquiry into what happened in registering voters in what were to be key battleground states. Like the shenanigans in Congress with Fannie/Freddie and housing for all, what really happened probably will not come to light. And, the Acorn operatives will be at it again in the 2012 election instead of putting it to a stop now.

It will be interesting to see what happens over the next 19 days. No one wants any more untoward events, the kind that could swing the election, but they are always possible. With BO ahead, the economy and credit markets in the tank, and the unpopularity of the present POTUS, BO is as close as there can be to a shoe in 3 weeks before an election. Circumstances not controlled by McCain have swamped McCain. The same could be the fate of BO the next four years as POTUS.