party plan business
Democratic National Committee: Small Business Community
- Dow Plummets to Lowest Point Since 2004
This weekend, campaign advisers to John McCain say they want to "turn the page" on the economic crisis and explore new depths of dishonorable and sleazy campaigning. This morning, the Dow Jones sank below 10,000 points for the first time in four years.
Wall Street joined a “selloff around the world” today, with the Dow Jones dropping more than 400 points and falling to below 10,000 for the first time in four years. As the AP reports, the “markets have come to the sobering realization that the Bush administration’s $700 billion rescue plan won’t work quickly to unfreeze the credit markets, and that many banks are still having difficulty gaining access to cash.”
Think about it -- while untold thousands of Americans lose their life savings or retirement funds because of the greed of Wall Street, John McCain wants to "turn the page" on the financial crisis.
Then again, we've seen this before from John McCain. He knows a thing or two about thousands of Americans losing their life savings.
- McCain Doesn't Want to Muddy the Election Debate with Policy Details
At a time of great uncertainty in the economy, millions of Americans of all ages, working and retired, are worried about their economic future -- before and after they retire. That's why voters want to know more about John McCain's plans for Social Security.
It turns out, they won't get them.
John McCain, whose support for privatization of Social Security is well known, refuses to provide the details of his plan because it would, according to one senior adviser, "politicize the debate."
Consider McCain campaign senior adviser Taylor Griffin’s description of his candidate's plan for fixing Social Security:"The history of the Social Security debate has taught that too many specifics, especially during a presidential campaign, has polarized the debate," he said of the program that McCain called "an absolute disgrace [that's] got to be fixed."
Will he contrast his plan to that of his opponent? "Sen. McCain believes this is so important that we do not politicize this debate during an election season."
This explains why John McCain's "Jobs for America" economic plan is only thirteen pages and economists widely criticized as thin on the details. It is not that John McCain wants to hide his massive tax cuts for the rich, and massive corporate tax breaks, he just does not want to politicize the debate.
And really, who needs to discuss policy details in a presidential campaign? John McCain doesn't want to cause a distraction from talking about Britney Spears and Paris Hilton -- you know, the things that matter.
- Jobless Rate Rises
John McCain says the "fundamentals" of the economy are strong. But, in the real world, 51,000 Americans lost their jobs last month as the jobless rate hit a four-year high. Associated Press:
The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.The numbers for July continued the troubling effects of Bush/McCain style economic policies.
July's reductions marked the seventh straight month where employers eliminated jobs. So far, this year, the economy has lost a total of 463,00 jobs.Young people are heading back to the classroom in a few weeks, but many of them will be doing so a little lighter in the wallet than in the last sixteen years, as the economic downturn kept many of them out of work this summer.
This year, however, fewer of them were able to find work, the government said. The unemployment rate for teenagers jumped to 20.3 percent, the highest since late 1992.Like George Bush's economy? Hire John McCain. He's too busy talking about Britney Spears and Paris Hilton.
Meanwhile, Senator Barack Obama is talking about what's on the minds of Americans: how we can turn our economy around.
- DNC Web Video: McCain and Gramm: It's All In Your Head
John McCain, who doesn't know what he is talking about when it comes to the economy, often pivoted to his "dear friend" and "respected economist," Phil Gramm. He even claimed there was "no one more respected on the issue of economics," and many called Gramm the "econ brain" for McCain.
Gramm told the Washington Times an interview published last week that the economy has "never been more dominant" and said we have become a "nation of whiners" constantly "whining and complaining." The McCain campaign may be quick to throw a top economic adviser under the bus but that does not hide the fact that John McCain offers four more years of George W. Bush on the economy.
We released this web video highlighting the shared belief of John McCain and Phil Gramm that these troubling economic times are "psychological" and a figment of your imagination.
- McCain Myth Buster: John McCain and America's Small Businesses
John McCain says he will stand up for America's small businesses and that "[e]ntrepreneurs are at the heart of American innovation, growth and prosperity." But in reality as president Senator McCain's health care plan would overburden small businesses, hurting both the entrepreneurs running them and the workers needing coverage. According to FactCheck.org and the blog Think Progress, McCain's plan would "encourage some employers, mainly small businesses, to drop health benefits," it "could eventually eliminate job-based insurance altogether," and would "weaken small business protections." McCain's voting record backs this up--in 2000, he actually voted against a tax credit for small businesses offering employee health insurance for low-income workers. [johnmccain.com, accessed 6/9/08]
The economy is the number one issue this election, yet time and again McCain makes it clear he's out of touch with the challenges Americans are facing. How else can you explain a voting record and plans that make it harder for small businesses to succeed?MCCAIN'S HEALTH CARE PLAN WOULD OVERBURDEN SMALL BUSINESSES
Fact Check: McCain's Plan Would Result In Employers, Particularly Small Businesses, Dropping Coverage. According to Factcheck.org, "McCain's plan to tax workers on the value of their employer-provided health care plans and provide tax credits would encourage some employers, mainly small businesses, to drop health benefits, say experts, and the proposal could eventually eliminate job-based insurance altogether." Director of the health research and education program at the Employee Benefit Research Institute Paul Fronstin "says a tax credit plan like McCain's likely would mean the end of employer-sponsored health care." [Factcheck.org, "McCain's $5,000 Promise, 5/1/2008, http://www.factcheck.org/mccains_5000_promise.html ]
McCain Offers Little On Specifics On Affordable Health Care For Small Businesses. When asked about a "support system for small business" to keep workers comp down, and a more affordable health care program for small business and their employees, McCain discussed how expensive "free" health care from the federal government will be, his "$5,000 refundable tax credit," and his "outcome-based treatment" plan. [CNN Live Feed (Santa Ana, CA), 3/25/2008]
McCain's Plan Would "Weaken Small Business Protections." According to the blog Think Progress, McCain's health care plan would "weaken small business protections by enabling businesses to simply market insurance policies around the country from states with weak protections." [Thinkprogress.org, 4/25/2008, http://thinkprogress.org/wonkroom/2008/04/25/mccain-business-health-care/#more-736 ]
2000: McCain Opposed Tax Credits For Small Businesses Who Offer Insurance. In 2000, McCain voted against allowing businesses with up to 25 employees to receive a tax credit for employee health insurance for low-income workers. [Senate Vote #205, 7/17/00]