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October 11, 2008

ECONOMISTS.... Yesterday was not a good day for the McCain campaign when it came to professional economists. First, the campaign released a statement blasting Barack Obama's economic program, signed, ostensibly, by "100 economists."

Then someone counted, and noticed that McCain could only find 90 economists willing to sign on to the "warning." Indeed, two of the 90 actually work for McCain, suggesting there were pretty loose standards at work here. (There are over 17,000 economists in the American Economics Association.) As Jonathan Chait noted, "The takeaway here is that, even with the most generous standards, the campaign couldn't find 100 economists in the country to badmouth Obama's proposals, let alone endorse their own."

And to add insult to injury, the Huffington Post decided to check in with the very same professional economists who endorsed McCain's economic plan a couple of months ago, asking what they think of McCain's new "Homeowner Resurgence Plan." McCain probably won't care for the response.

In interviews with the Huffington Post, roughly a dozen of McCain's economist supporters said they disagreed with the Senator's recent proposal.... Several viewed it as a gimmick, driven mostly by political circumstance. Only one pro-McCain economist spoke up in favor of the plan.

"This is just political gamesmanship," said Robert H. Heidt, a professor at the Indiana University School of Law. "The bill is wildly over-ambitious in trying to rescue home buyers from the downturn in real estate appreciation. Its costs would never end. I will end up voting for McCain but this is ridiculous."

Added George Viksnins, a retired professor of economics at Georgetown University: "Even though I support McCain I think this is an ill-considered program. This was something to get press time and face time, and that is the problem with our political system. This was done as a sound bite and without analysis."

If I only had a nickel for every time that last sentence has come up in reference to a McCain campaign decision....

Post Script: For what it's worth, as Hilzoy recently explained, The Economist, one of Sarah Palin's favorite periodicals, recently surveyed actual academic economists, asking which candidate had the superior economic plan. Overwhelmingly, the economists preferred Obama's approach.

Steve Benen 4:45 PM Permalink | Trackbacks | Comments (16)
 
Comments

'Overwhelming, the economists prferred Obama's approach.' That's why The Economist one of Governor Palin's favorite periodicals.

Posted by: deggjr on October 11, 2008 at 4:52 PM | PERMALINK

Hmm, I wonder why so many economists are Democrats...

Posted by: MNPundit on October 11, 2008 at 5:18 PM | PERMALINK

The darling of the conservative christian right, Lying Palin, has been given new marching orders to tackle the age old staples of abortion, gay marriage, and immigration. The tactics aren’t changing, it is still muster up hate within the troops, just the topic is modified.
Lack of ethics and racism and breaking the commandment of bearing false witness, run hand in hand all in the name of the god of this female false prophet.
McCain will bandy about this next week with the other falsehoods about ACORN, and tout his economic bribe policies at the wall street, banking and corporation entities; all along proclaiming it’s for the average American ( and not a mention of the illegal vote purging that the GOP has already accomplished). All the while, Fox propaganda machine spewing their affirming lies 24 hours a day.The addition of ministers, evoking their two cents (and retaining their tax exempt status) goes unanswered as well, instilling their false prophet threats of their god that apparently condones lies and fear.
Meanwhile the Democratic party says and does nothing about the hundreds of thousands of voters that have been purged. Meanwhile the justice department does nothing about the hundreds of illegally disenfranchised voters (after Obama wins, there will be plenty to prosecute this current AG).
It is up to the bloggers to incite the network news to address the vote purging truth and not these false distractions that the GOP and McCain campaign is spoon feeding the networks. Where are all the true journalist. Why isn’t Brad Friedman on a network news show.
McCain only refrained from this last weeks continuation of hate speeches so that he could appear like the maverick he so maliciously tries to say he is; the harm has been done. The real ugliness of the GOP was becoming too evident and it was hurting him, he did not do this for the sake of the nation; once again America did not come first with this man and his demon like not repented unethical and lying side kick. The lying will continue this week, just new victims, the same hate format continues.

Posted by: Anthony Look on October 11, 2008 at 5:26 PM | PERMALINK

"(There are over 17,000 economists in the American Economics Association.) As Jonathan Chait noted, "The takeaway here is that, even with the most generous standards, the campaign couldn't find 100 economists in the country to badmouth Obama's proposals, let alone endorse their own."

This reminds me of the Swift Boat Liars campaign against Sen. John Kerry in 2004.

Out of over 10,000 veterans who are members of the Swift Boat Association, whoever funded the Swift Boat Liars could only find 250 to endorse the right-wing smear campaign against Sen. Kerry.

And this 250 figure, as the Rocky Mountain News reported, was inflated, because several honorable Swift Boat veterans demanded that their names be deleted from the Swift Boat Liar list.

After the U.S. Navy Department announced three weeks before the November 2004 election that the Navy Department stood firmly behind their awarding of medals to Lt. John Kerry over thirty years earlier, I contacted some of the Swift Boat Liars via e-mail, asking them if they realized that in attacking the validity of Lt. John Kerry's medals for valor they were also calling into question the validity of any medals they may have received...because you see, they attacked the medal awards process itself, with the Swift Boat Liars intimating that the U.S. Navy Department screwed up...which is why the Bush Navy Department spoke up in defense of their medal awarding process.

But what the Swift Boat Liars did went even further. In attacking the U.S. Navy Department's medal award process, they actually called into question the medal awards process at all of our military departments, slamming the medals ever awarded anyone in any branch of our military, spitting no only on their medals but on the medals of everyone, past and present.

But the statement by George Viksnins sums it up: "This was something to get press time and face time, and that is the problem with our political system. This was done as a sound bite and without analysis."

He's talking about McCain's economic bail-out plan, but it could just as easily apply to what the nefarious Swift Boat Liars did back in 2004, who besmirched the good name of the Swift Boat Association and all of its members by what a few (less than 250) did.

Posted by: The Oracle on October 11, 2008 at 5:37 PM | PERMALINK

Louis Rukeyser used to say this:

If you laid all the economists end to end, they still wouldn't reach a conclusion.

Posted by: fostert on October 11, 2008 at 5:37 PM | PERMALINK

"This is just political gamesmanship," said Robert H. Heidt, a professor at the Indiana University School of Law. Its costs would never end. I will end up voting for McCain but this is ridiculous."

Added George Viksnins, a retired professor of economics at Georgetown University: "Even though I support McCain I think this is an ill-considered program.

McBush is an economic troglodyte but he's their economic troglodyte and they love him. These guys are going to spend their whole careers teaching this stuff and the worst disaster in their field in their lifetime occurs and a candidate puts forth ideas that they don't agree with and even say will do further damage but they support him anyway.

Thanks for taking us into your confidences there Bob and George. It's good to know who's part of the problem and who's part of the solution.

Posted by: burro on October 11, 2008 at 5:44 PM | PERMALINK

Louis Rukeyser used to say this:

If you laid all the economists end to end, they still wouldn't reach a conclusion.

Posted by: fostert

I am not sleeping with any economist!

Posted by: The Galloping Trollop on October 11, 2008 at 5:44 PM | PERMALINK

For me, right now it is hard to believe that the Republicans will be in control after this election. It is all across the board on all the major cable news now America is in trouble deep, deep trouble like nothing ever see before. I can’t image that in two years with marginal power Democrats could screw up the system this much. For the past eight years six were driven by the Republicans. No vetos ever on any Bush and company spending.

Watching CNBC the money channel has intensity and continued uncertainty.

Please there is some type of quality control in this mess that is totally suppressed by the major media. All of a sudden about two week ago America is center core for a cash crisis or credit melt down. You mean it is like no one talks to each other about money either, till a mess happens. Ladies and Gentlemen of America when big business recognizes John Doe citizen is behind in credit payments, letters are sent out, and phone calls are made, and then legal action taken. Here, whats incredible is the poor way, we the people, are informed and educated by just saying over and over the sky is falling.

All this adds to the complicity of the major media with Bush and Company deliberately keeping this information below the radar as long as they could. Also, adds to perhaps even a fixed drama in this politics, where the media now creates panel after panel with round table talks over and over, that spell one thing in common. Greed. But where is Attorney General. Likely packing his bags to escape to another country.

Bush and Company highly and likely bought off every finance Minister he invited over for discussion. All these bankers are connected to America’s Federal Reserve; the Jekyll Island gang that ruled for about a century, the money fat cats is being challenged. Serious International implications have been breached knowingly ignored for profiteering.

With America and Bush admitting to secret prisons and torture over the years, it is my firm believe all of a sudden with the likely hood of Barrack Obama being elected all these Finance Ministers that are corrupt and bought off now finding themselves in jeopardy for International crimes as money for war issues circulated through these countries. This is not just a credit crisis it is a world wide crime crisis perpetuated by all this secret mercenaries, CIA, FBI, FISA, torture, and prison by those connected to big money, especially Bush and Company.

It is past an out rage, that’s why some shout treason.


Posted by: Megalomania on October 11, 2008 at 6:59 PM | PERMALINK

Megalomania, thy name is misdirected paranoia.

That being said, and going completely off topic, I have to say this:
As an outside observer, (I'm a Dane), I really am shocked that this election is as close as it is.
Not that it is SUPER-CLOSE, because it isn't, but the mere thought that a campaign as mismanaged and disorganized (not to mention insane, incoherent, bloodthirsty and bigoted) as McCains' is probably going to get at least 40% of the vote, is enough to make me think that the U.S. was a failed experiment from the start.

Posted by: HairlessMonkeyDK on October 11, 2008 at 7:36 PM | PERMALINK

McCain's idea of an economic plan is to obfuscate the real costs.

When you visit his website you see all kinds of juicy tidbits but no real substance.

I'd say he's very much in the tank for the wealthy.

His healthcare plan is beyond believeable.

I will say, if you support John, but don't like his economic plans, then you'd better not vote for him.

He and Sarah are snake-oil salespeople, no more, no less.

But we have seen loyal Repugnacans time and time again vote for being selfish rather than for their country.

Posted by: Tom Nicholson on October 11, 2008 at 8:02 PM | PERMALINK

This was something to get press time and face time, and that is the problem with our political system. This was done as a sound bite and without analysis."

Right. Not McCain's fault. Obama's got a reasonably sensible plan. Must be another political system he's in with fewer problems, huh? Right.

Bulleting for ya, dudemar: the cossacks work for the czar. McCain's in charge of what McCain says. If what he comes out with is crap, it's because he's crap.

Posted by: DrBB on October 11, 2008 at 8:10 PM | PERMALINK

The McCain campaign is perfectly understandable, once you realize that, a few months ago, they fired their regular consultants and hired

Howard, Fine, and Howard

Posted by: Prup (aka Jim Benton) on October 11, 2008 at 8:12 PM | PERMALINK
"This is just political gamesmanship," said Robert H. Heidt, a professor at the Indiana University School of Law. "The bill is wildly over-ambitious in trying to rescue home buyers from the downturn in real estate appreciation. Its costs would never end. I will end up voting for McCain but this is ridiculous."

Uh, Heidt isn't on the list, which is a good thing because he isn't an economist.

He's a neo-con asshole who was infamous for hitting on the female students.

Posted by: tAwO 4 That 1 on October 11, 2008 at 8:46 PM | PERMALINK
Higher taxes in a recession and trade wars are really stupid, you don't need an economist to tell you that.

Actually, in a Keynsian sense, you might be wrong.

Posted by: roger Tang on October 11, 2008 at 9:22 PM | PERMALINK

Anyone claiming to be a professional economist that couldn't envision the current train wreck from at least a year ago should find a new profession.

Posted by: AJB on October 11, 2008 at 9:50 PM | PERMALINK

I guess we better keep track of those 'conservative' economists.

Once Obama becomes the new POTUS, we'll have to watch out for those nuts when they appear on Fox News, with their drivel that doesn't work.

They've proven to be on the wrong side of the "right thing to do"

Posted by: Bruno on October 11, 2008 at 11:31 PM | PERMALINK




 
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