Tag Archives: obama

World Economy Continues to Spiral Downwards

Today the House of Representatives convened to vote on the $700 billion dollar bailout plan that would buy bad mortgage debt from large banks and firms and give them an opportunity to get back on their feet. The plan failed with a vote of 228 to 205. Both President Bush and UK Prime Minister Gordon Brown expressed their disappointment in bill’s failure.

Traders on the floor in Wall Street were not pleased. Shares dropped a record amount today, falling 770 points. Wachovia, the fourth largest bank in the US, sold to competitor Citigroup.

The problem is no longer just here in the US as major foreign markets fell drastically today. Without the bailout plan, many more banks and investment firms will bust. Nancy Pelosi stated, “The legislation has failed, the crisis has not gone away.” Republican house leader claimed a speech given by Pelosi, “poisoned our conference, caused a number of members that we thought we could get to go south.”

Presidential candidate John McCain claims that the Democrat’s partisan speech as being unhelpful. He stated, “Now is not the time to fix the blame, it’s time to fix the problem.” He encouraged congressmen to try and work out a new deal immediately.

Opponent Barack Obama expects a bailout bill of some form to pass. He is upset that the mess on Wall Street has transferred to the average citizen. He says, “If I am president I will review the entire plan the day I take office to make sure that it is working to save our economy and that you get your money back.”

SOURCE

xPirate’s thoughts on the situation: I’m very worried now that the bill has failed. With the markets falling as much as they have recently, we are heading very quickly toward another Great Depression. I personally expected the bill to pass, but once again, Republicans bring a halt to our glimmer of hope. I’m pissed that once again partisanship and stupid bickering in Washington has led to nothing being done! Do these politicians just not realize that we are in a state of crisis? We can’t wait for the parties to agree on everything.

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McCain, Obama, and Bush to Deal with Economic Crisis

It’s no news that the current US economy is facing a huge crisis. This afternoon John McCain announced that he was suspending his campaign to return to Washington in hopes to fix the troubled economy. President Bush has invited both candidates as well as various Democratic and Republican leaders from congress to the White House to discuss a deal on a financial bailout. Bailout is an economic term used to describe the situation where a bankrupt corporation or bank is given a fresh injection of liquidity in order to meet short term needs. (Wikipedia)

Both political parties, in the midst of all their petty fighting, agree that something must be done about the crisis that this country’s economy now faces. Bush made a short 12 minute address to the nation earlier this evening. Both Obama and McCain have issued a joint statement saying,

“Now is a time to come together Democrats and Republicans in a spirit of cooperation for the sake of the American people.The plan that has been submitted to Congress by the Bush administration is flawed, but the effort to protect the American economy must not fail. This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe.”

Candidate John McCain recently met with a group of economic advisers and have come up with a $700 billion dollar proposal. It was after this meeting that McCain called for Bush, not famous for dealing with issues on a personal level, to bring the candidates to the White House. McCain has also suggested that the presidential debate scheduled for Friday be postponed in the midst of this economic crisis. Obama has no plans to cancel the debate or suspend his campaign.

Source 1 – MyFox Colorado
Source 2 – MTV News

xPirate’s view on the situation: I’m surprised. Given how divided our country has become politically, it really makes me feel good that these leaders are willing to put partisanship behind them to work out this crisis. Of course, something should have been done sooner, but at least something is happening. I’ve been living in fear of another Great Depression these past few weeks, so I’m hoping that something is able to be done.

John McCain made a smart move by calling for this meeting. I’m no economist, so my opinion on whether McCain’s proposal will work or not really isn’t valid. I’m just happy to see something being done about our economic plunge to death! He probably just won some votes for this.

I do believe that the presidential debate scheduled for Friday is important and would like to see it take place. However, if there’s still work to be done in Washington, that should be the first priority. While I support Obama, he constantly is talking about the “change we need,” so now is his time to prove to our nation that he really can bring about this change that we need.

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11-Year Old Suspended for Political T-Shirt

An 11 year-old student, Daxx Dalton, that attends an elementary school in Aurora, Colorado was suspended today after wearing a shirt that said, “Obama is a terrorist’s best friend.” The school system said that the shirt was disruptive to the learning environment and gave the student the option to change, turn it inside out, or be suspended. The student chose to be suspended saying that his right to free speech was infringed upon.

The students father is a self proclaimed “proud conservative” that has taken part in many anti-abortion protests across the state. He claims that the public school system is “full of liberal loons.” The school claims that Daxx was not suspended for the content of the shirt but for his “willful disobedience and defiance.” The boy’s father plans to pursue a lawsuit against the school district.

What does xPirate think of this shenanigan? Well, just having read the story, I am thinking in the back of my mind that no 11-year old boy is going to be paying close enough attention to the campaigns to make an educated decision on which candidate they like better. What further stirs my suspicion is that Daxx’s father is so actively involved in the conservative community. Knowing from personal experience the influence parents have over a child’s political viewpoints leads me to believe that the student’s father gave him the idea to make and wear the shirt. He wanted an excuse (or proof as he might call it) to call all teachers “liberal loons.”

So was Daxx’s right to free speech infringed upon? In my opinion, no. Wearing any shirt that insults another human being is inappropriate to me. Daxx has a right to express his opinion. “Obama is a terrorist’s best friend,” is not an opinion, it’s libel which is illegal. Had he worn a shirt that called a Muslim classmate a terrorist, he would have been reprimanded. Schools have dress codes that ban inappropriate content and have the right to enforce that as they will. Had the student worn a shirt that said, “Vote for McCain”, I doubt anything would have happened to him. Moreover, had a student wore a shirt libeling McCain, they too would have been reprimanded.

Furthermore, not only have mudslinging campaigns mudded up political campaigns for years, it’s just downright annoying. I want to know why I should vote for a specific candidate. I could care less if Obama is friends with a terrorist, if he can get this country back into shape after the great Bush fuck-up, I’d still want him to be president.

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