Rough day on Wall Street
September 15th, 2008 by Jason PyeThe big news today is on Wall Street. The Dow is down 504 points at I write this. Many of us, myself included, have money tied up in 401k plans, stocks and other investments and we are watching nervously while Sen. John McCain and Sen. Barack Obama point fingers at each other and call for more regulation.
I want to point readers to a press release sent out from the campaign earlier this afternoon about the financial crunch. In the release, Bob says that the government must let capitalism work by getting out of the way and resisting another costly bailout like Fannie Mae and Freddie Mac where taxpayers are on the hook for billions of dollars.
Bob also adds that Washington must take a good look at itself:
“Next year the deficit is almost certain to exceed half a trillion dollars. These deficits come on top of an already staggeringly high, $9.5 trillion national debt,” says Barr. “We must eliminate all nonessential programs, as well as those with no constitutional authority or which are properly left to the states. The good times when Congress could spend as if there were no limits are long gone.”
“America’s biggest problem is an entitlement explosion resulting from an aging population and rising health care costs,” Barr notes. “Social Security and Medicare have unfunded liabilities in excess of $100 trillion. That is more than seven times our annual GDP. Finding answers will become more painful, both economically and politically, the longer we wait to act. Addressing entitlements should be a top priority of the next administration.”
We simply cannot afford to continue on with the status quo politics of John McCain and Barack Obama. The only way to truly fix Washington is to put Bob Barr in the White House. That is the only way we will restore the Constitution and save our Republic.
September 15th, 2008 at 5:34 pm
Why has the campaign not let us know why we have NOT sued to remove Obama and McCain from Texas?
Why hasn’t the campaign given us an update on Massachussetts in substituting Barr for Phillies? and why hasn’t the campaign told us if Phillies would be removed from New Hampshire all together?
Supporters want to know
September 15th, 2008 at 5:58 pm
Maybe the Barr campaign doesn’t want to spend its limited resources on such a lawsuit in Texas.
As Richard Winger has stated elsewhere, courts have held that the kind of deadlines Obama and McCain missed in Texas are not strictly enforced, and such a lawsuit would be “futile.”
If I was advising the Barr campaign, I’d recommend spending its limited resources on campaigning instead of more lawsuits.
September 15th, 2008 at 6:10 pm
I am like the biggest supporter of Bob Barr yet I’m getting thumbs down because I want to know here we stand, very interesting……
September 15th, 2008 at 6:18 pm
I suspect you’re getting the thumbs down because you keep posting the same off-topic comment over and over again.
September 15th, 2008 at 6:57 pm
I am trying to mass a major Blog Bomb Day on October 1st. My plan is to have 50 people blog on McCain, Obama, ABC,FOX,CNN, and MSNBC web pages every 2 houre on the latest blog post. This will let the media and other people know we are out their and willing to fight. Some far I have only 5 people to do this.
If you would like to help E-mail me at Hillman.N@gmc.edu
September 15th, 2008 at 7:47 pm
Even I get a thumbs down now and then.
September 15th, 2008 at 10:58 pm
Well i remember bob saying that if we give a bailout to freddie and fannie we have to give one to everyone but Lehman Brothers didnt get it and this is what i will use as a background to my next part.
The social welfare people get isnt exactly fair either. some people dont deserve it and others arent getting enough. It kinda reminds me of corporate welfare and how only certain things are propped up and how a guarantee of the government to “help” us is really an invitation to mess it up. Or how the government is giving heating assistance this year. They messed up by not freeing up the market to let this new technology be developed without special interest getting their hand in it. Now we are letting the government steal our money to pay for their mess up.
Please vote libertarian to stop both of these failing ideas and get our market back. We cant keep systematically bailing everyone out this way without someone messing it up eventually.
September 16th, 2008 at 1:56 pm
You haven’t heard an update on NH and MA because there have been no court decisions. I think the first hearing for MA just happened. The hearing for NH hasn’t been scheduled yet.