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A Vote For Obama Is A Vote For Great Depression 2.0

Monday, October 6, 2008  |  posted by Hugh Hewitt

Just interviewed Michael Barone, who correctly pointed out that high taxes and protectionism were hallmarks of Hoover’s failed effort to stem the bad news after the Crash of 1929.

What’s Obama running on again?

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Ayers, Rezko, Wright and the Economy

Monday, October 6, 2008  |  posted by Hugh Hewitt

As more details emerge on the Obama-Ayers connection (here’s a short story from 1997 on Ayers that features both Obamas and which suggests that Michelle Obama organized the program that featured both Ayers and her husband), the Obama talking heads are hysterical with outrage, which is a clear signal to Team McCain to keep digging and swinging on the subject of Obama’s judgement. Just who, after all, does he intend to staff the 3,000 executive branch jobs with? Who will be at Defense and Justice and Treasury and State?.

The message also has to be targeted at the reality that the dizzying declines in the markets cannot be arrested and reversed with tax hikes and unemployment benefit extensions. Even as people shudder at the rapid decline in their savings and retirement accounts, they have to be trusted to know that anti-growth polices of the sort being pushed by Obama will simply drive business, jobs and growth overseas. A tax hike agenda of the sort pushed by Obama right now is economic suicide, and John McCain has to forcefully say so.

As I wrote on Friday, the crisis in the markets is just one of many factors working against doubling down on the Democrats who blew into town with majorities in the House and Senate in 2006. Obama, Pelosi and Reid are blaming Bush, but they have held the power for the past two years and the economic wreckage is everywhere to be seen, as is the spike in oil that was in part engineered by the Dems’ steadfast refusal to do anything about production for more than a decade. Part of today’s sell-off has also got to be the reaction of the business community to the prospect of Obama in power backed by a filibuster-proof majority in the Senate. The full agenda of the modern left, never a realistic possibility in this country until this month, now seems possible if not plausible. Of course capital is scared and cash accumulating on the sidelines. The prospect of radical change is never comforting to investors.

The very panic that has caused the sell-off could also deeply damage Obama’s recent momentum. He is, after all, a complete rookie and without any executive experience in good times much less a crisis. Is the country really going to roll the dice on Ayers’ friend and neighbor and Rezko’s partner, so that he can team with Nancy Pelosi and Harry Reid to redesign the American economy in the middle of a global financial crisis and a war?

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