Welcome to TBO.com. Skip directly to: our Keyword Search, Section Navigation, Content.

TBO.com - TBO is Tampa Bay Online

Highlands Today

Highlands Today > News

McCain vs. Obama

Marian Perrin

Published: October 18, 2008

The charge has been made that the election of Senator Obama would result in a redistribution of wealth in this country. In my opinion we have just witnessed the greatest redistribution of wealth, all to the top, since the beginning of the 20th century and with the same result. We are now in a full-blown recession with the distinct possibility of descending into a depression.
With the economy in the worst condition since 1930, take a good look at the advisors the presidential candidates have chosen.
In the case of Senator McCain, his top economic advisor is Doug Holz Eakins. Mr. Eakins served as chief economist for President George W. Bush. The stated purpose of the tax cuts passed by the Bush administration was to create jobs. Unfortunately for us, most of the jobs were created in China, India, Mexico and not here in the United States. This is the policy that Senator McCain wants to extend. I find it hard for Mr. McCain to distance himself from President Bush's failed policy when he is listening to the same people extolling the same ideas.
Another of Senator McCain's financial advisors is Senator Phil Gramm. As Chairman of the Senate Banking and Finance Committee, Mr. Gramm was instrumental in passing legislation that deregulated the banking and futures trading, which many economists contend has led to the present financial meltdown.
Carly Fiori was CEO of Hewlett Packard. She was fired after 60,000 employees lost their jobs under her failed leadership.
Finally, Meg Whitman, founder and former CEO of e-bay, was very successful for many years but retired from the company this year as the company was in a period of stagnation. She had failed to aggressively respond to the challenge of her competition, amazon.com, and the company has lost its leadership position.
By contrast, Senator Obama is supported and advised by Warren Buffet, Nobel Laureate Economist Paul K. Krugman and Paul Volcker, former Chairman of the Federal Reserve.
I for one would rather have Senator Obama's advisors at this time of financial crisis in our country.
Marian Perrin
Sebring