We are almost certainly in a recession. It could be short or long. It could be shallow or deep.
A vote for Senator Obama is a vote for long and deep for the simple reasons that Senator McCain explained last night: Raising taxes and restricting trade is the recipe used by Herbert Hoover and it is the program being pushed by Obama..
This is the ground on which to fight the last three weeks —Joe the Plumber’s ground. Americans don’t want their taxes raised. They don’t want trade barriers thrown up right now. They do want growth back asap and the equity markets to recover their losses and get to new highs. The Greatest Generation doesn’t want to leave their estates to Obama’s massive expansion of the public sector. In short, Obama’s pleasant smile shouldn’t be enough to sell the American people on the repudiation of the 28 years of nearly unbroken growth and prosperity launched by Reagan’s tax cuts.
This is a pro-growth, anti-tax country, and Obama is running on a high tax “spread the wealth” European program.
Rasmussen has the race down to four points, and there is extraordinary volatility in the country. The question about Obama’s judgment is real and won’t go away as the Ayers, Rezko, Wright and ACORN issues remain on the table and certainly tell us how Obama will staff his 3,000 appointments if he becomes president. Catholic voters got a reminder last night why Obama is the most radical abortion rights candidate for president in history, and Princeton philosopher Robert George has penned the perfect essay to send all your Catholic and pro-life friends who think a vote for Obama is acceptable because he makes the right noises in the campaign.
“The Gang of Three” –Obama, Pelosi and Reid– are already planning how to spend your money on their friends. Markets are watching the race closely, and a McCain surge now would be the beginning of a huge restoration of confidence in the American commitment to growth.
McCain did what he had to do last night, and must keep the focus on Obama’s recipe for Depression 2.0. The Chicago Machine is already measuring the drapes, but there’s a slight wind blowing in a new direction today, and both camps know it.