Obama is Skating on VERY THIN ICE...
As much as I would like to see Sen. John McCain defeated come November, I am finding it harder and harder to support Sen. Obama. And it all has to do with the Bail-Out. It is bringing out a "new perspective" on most of the current politicians, Obama included.
Prior to the bailout, many people told me when I voiced support for Obama that he was an elitist, that he didn't really represent the working class as he claimed. I found, however, that his speeches and public discourses were directed at that same working class and he projected an image of being someone who was concerned about the plight of middle class America.
Then the crash occurred and calls for a bail-out started. Those screaming for a bail-out, however, are not middle class Americans. In fact, the screams of the average Americans is almost completely united AGAINST the bail-out.
Obama, however, is still trying to find a way to get this bail-out to pass. There are only a couple of reasons why he would do so in the face of such overwhelming opposition from the constituency. 1. He has a vested interest in the salvage of these institutions (meaning he perhaps own stocks that are in danger should the bail-out fail), 2. He believes he knows better than the average American what is going on.
Either way, he comes of as elitist in the extreme. And if the second choice is the true culprit, he is not only elitist, but ignorant as well.
Why would I say that? I challenge you to find a professional financial adviser outside of this mess (no one from a failing company or from the Bush Administration/Congress counts) that supports the idea of a bail-out. Now granted, I am not saying you are not going to be able to find anyone--because there are kooks out there. But when the majority of financial consultants who work regularly with universities, governments, and the private sector are all claiming that this bail-out is bogus, Obama should be taking notice. And when the overwhelming majority of the constituency is saying the same thing, his choice should be a "no brainer"--no bail-out.
But he still clamors on about the necessity of a bail-out. In fact, one of the suggestions he put out today was to increase the FDIC insurance limit on an account from $100,000 to $250,000. I almost wanted to consider this elitist until I really started thinking about it. Now I think he is just being plain silly.
First off, who in the middle class has more than $100K in an account? That sounds more like upper class to me. But wait, what kind of rich person puts more than $100k in a single account (let alone a single bank), when they have known for years that in a bank failure any amount above $100K would be lost?
So, basically Obama is throwing a hail-mary pass to stupid rich people...??? I kinda think that's a pretty small demographic.
I am finding it harder and harder to justify voting for him. And he needs all the votes he can get.
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