As we look to history to help craft our views and track economic wins and losses, we must ask ourselves does Sen Obama have the experience to tackle the current problem of our economy. Bill Clinton and Sen Obama clearly have differing points of view on reality in the economic arena.
Can anyone actually show me one article or evidence of ANY EXPERIENCE Sen Obama has in running any annual operating budget of at least $10 Billion? Sarah Palin as Govenor of Alaska has an operating budet of $11.2 billion. While she might be less eloquently trained in debate as Sen Obama is from his Harvard days, she has far and away the most economic experience than either Democratic candidate. I can’t wait for the debate tomorrow.
Bill Clinton sets the record straight on the path towards the current economic crisis. He states he does not regret signing the deregulating bill Gramm-Leach-Bliley Act that repealled the Glass-Steagall Act of 1933 into law.
The Gramm-Leach-Bliley Act passed the Senate on a 90-8 vote, including 38 Democrats and such notable Obama supporters as Chuck Schumer, John Kerry, Chris Dodd, John Edwards, Dick Durbin, Tom Daschle — oh, and Joe Biden. Mr. Schumer was especially fulsome in his endorsement.
Mr. Obama’s “deregulation” trope may be good politics, but it’s bad history and is dangerous if he really believes it. The U.S. is going to need a stable, innovative financial system after this panic ends, and we won’t get that if Mr. Obama and his media chorus think the answer is to return to Depression-era rules amid global financial competition. Perhaps the Senator should ask the former President for a briefing.