Political Punch
Power, pop, and probings from ABC News Senior White House Correspondent Jake Tapper
RECENT POSTS
- In Shift, US Calls for "Amnesty" for Journalists in NK
- Obama Pushes Back Amid Criticism Over G-8 Progress on Iran
- While the President's Away, Health Care will Stray?
- 'My Cousin In Kenya Can't Get a Job Without Paying a Bribe': Obama Tells African Leaders to Get Their Houses in Order
- 'Camp Obama' for Malia and Sasha
- When In Rome...? Actually, not so much
- President Obama Shakes Hands with Qadaffi
- More Qs for O's WH - 7/9/2009
- President Obama Urges Major Economies Forum Nations to Act on Climate Change
- Today's Qs for O's WH - 7/9/2009
MONTHLY ARCHIVES
« Previous | Main | Next »
Krugman Finally Provides Some Oppo for Obama
September 20, 2008 10:24 AM
Throughout the primaries, New York Times columnist Paul Krugman was Sen. Hillary Clinton's most oft-quoted columnist to assail Sen. Barack Obama in her flyers and mailers. A supporter of her health care plan -- and an opponent of Obama's -- Krugman provided Clinton will a seemingly never-ending stream of quotes in which the Princeton economist eviscerated Obama's various policy proposals.
In a blog entry last night, however, Krugman finally kicked in with an assist by digging up a quote of McCain's that will assuredly become a part of the Obama stump speech tout de suite.
It comes from the Sept./Oct. issue of Contingencies, the magazine of the American Academy of Actuaries, in an article by McCain titled "Better Health Care at Lower Cost for Every American."
The graph in question -- with the key part bolded here:
"I would also allow individuals to choose to purchase health insurance across state lines, when they can find more affordable and attractive products elsewhere that they prefer. Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation. Consumer-friendly insurance policies will be more available and affordable when there is greater competition among insurers on a level playing field. You should be able to buy your insurance from any willing provider—the state bureaucracies are no better than national ones. Nationwide insurance markets that ensure broad and vigorous competition will wring out excess costs, overhead, and bloated executive compensation."
Writes Krugman: "So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago — and promising that if we marketize health care, it will perform as well as the financial industry!"
I would be shocked if Obama isn't saying within the next 24 hours that McCain pledged to de-regulate the health care industry as he and the GOP has done with the banking industry.
UPDATE: I see in Obama's prepared remarks, just sent to me by his campaign, that he will in fact be quoting from this "Contingencies" article in Daytona, Florida, today.
UPDATE 2: The McCain-Palin campaign says that the Obama/Krugman interpretation of McCain's comments is wrong, that he was talking about "giving American families greater access to health care and the ability to buy it across state lines – which would be in the same spirit of the updated regulation that allows Americans to do their consumer banking across state lines."
From McCain-Palin campaign senior economic advisor Douglas Holtz-Eakin: "This is absurd. If Barack Obama thinks that today’s financial troubles were caused by policies which allowed Americans to use an ATM anywhere in this country, then it is better that he continue to be silent about solutions to the crisis on Wall Street. That crisis arose from corruption and regulators asleep at the switch. It's also possible Senator Obama is simply a dishonest politician who will say anything to get himself elected and just isn't ready to be President."
-- jpt
September 20, 2008 | Permalink | Share | User Comments (90)
You can follow this conversation by subscribing to the comment feed for this post.
In TNR, Cohn responds convincingly to the ideological cluelessness of the McCain Camp.
Deregulation across states will just make it easier for predatory scams on people who can't get health insurance due to pre-existing conditions.
Posted by: SinatrasTra | Sep 22, 2008 12:35:48 AM
From darnobama:
"If I were Obama, I will never use Krugman's research to out balance McCain. it is krugman's sweet revengeand ploy to make Obama look ridiculous for which Obama is really had been the butt of the joke. Thanks for cheating the primary, Krugman will destroy the credibility of Obama by giving him a coup d'etat research lines."
Obama doesn't have to use Krugman's research, just use McCain's quote.
Posted by: Bowiemom | Sep 21, 2008 6:29:49 PM
Krugman was quite correct!! I heard today and saw on news Republicans are not in favor stipulations for protecting Americans, keeping CEO from receiving excessive payout bonuses, etc. I was shocked, but not too surprised. Republicans have always supported corporations more than the true American people. They want us Americans Taxpayers to pay for the corporate greed, CEO's payouts in the millions, and all mistake by our government, but Republicans want no restriction applied to these corporations and CEO's to bailout??
US is almost in a financial meltdown!! STock Market Crisis!!
John McCain does in black and white print want US Health Care deregulated. Less government oversight for rule to protect US Americans. John McCain does not want an American to have right to sue if major medical malpractice against you is committed. I am college educated medical professional. Every American has absolute right to defend themselves for good medical care. Less regulations will indeed cause a medical disaster just as it has with banking industry.
I also have compared John McCain and his stances on social security. John McCain is all for privatizing social security - believe me. I have saved lots of news articles with his quoted statements on this. Please be aware this has been Republican push all along to privatize. What does this mean?? He wants to put our accounts in the stock market. Look at what Republican President has gotten us into today!! We are in financial crisis!! No protection for our accounts?? No recourse for us to protection our funds!! No legal stance to stand on for us!! Republicans in Washington have made and pushed bank rules for less oversight(deregulation). John McCain most definitely is privatizing social security! Our social security will be in jeopardy if John McCain gets his way!!
This Republican has had it with her party!! America is a disaster. No more!!
Posted by: Sharonklim | Sep 21, 2008 5:18:32 PM
patti,
Perhaps because the number one issue to Americans all along has been the economy? We kept telling you war-mongers that the economy was the issue, but you refused to listen. Guess McCain thought we'd get scared and let the republicans turn this election into another war and abortion election. Out of touch losers!
Obama/Biden 08!
Posted by: Common Sense | Sep 21, 2008 1:39:12 PM
patti,
Because only a fool throws good money after bad? McCain's a loser, so why would anyone invest in him or his already failed policies? This is not a hard question at all.
Obama is the ONLY candidate that has stood up against the usury of the banks and credit industry. You don't charge poor people 300% interest in the name of providing color-blind credit.
Obama/Biden 08!
Posted by: Common Sense | Sep 21, 2008 1:34:35 PM
You people who keep lying about Obama getting more money than McCain from Freddie Mac and Fannie Mae need to do your homework! Fact Check states that McCain actually received more money from Freddie Mac and Fannie Mae than Obama did! Obama refused to take money from PACS, giving him a total of $16,000 in contributions from employees of Freddie Mac and Fannie Mae! You republicans are such liars!
----------------------------------------
Actually OBAMA has gotten more money from all of them:
Let’s start with the numbers. Why is a first term Senator pulling down almost $300,000 a year from Goldman Sachs, Lehman Brothers, Bear Stearns, Fannie Mae, Freddie Mac, AIG, Countrywide Financial, and Washington Mutual? He has not even completed his fourth year in the Senate and received a total of $1,093,329.00 from these eight companies and their employees. (all data from OpenSecrets.org). John McCain’s numbers, according to OpenSecrets.org for the period 1990-2008 (i.e., 18 years worth of data) only collected $549,584.00. In other words, Barack is receiving $273,582.25 (and 2008 is not over) per year while McCain raised a paltry $30,532.44.
Geeze it looks like Obama is in BIG with the Wall STreet freaks..
Posted by: patti | Sep 21, 2008 12:33:00 PM
If someone is dishonest it's McCain. The deregulator, lier, reckless, lack of judgement, who's temperament has to be questioned. He has 19 lobbyist running his campaign. Our Nation will be destroyed shoul McCain win. We are at war thanks to Bush and his lies. Now he wants to go to war with Russia and Iran. Palin will go on witch hunts with her preacher from Alaska.
Posted by: Steve | Sep 21, 2008 11:18:02 AM
If I were Obama, I will never use Krugman's research to out balance McCain. it is krugman's sweet revengeand ploy to make Obama look ridiculous for which Obama is really had been the butt of the joke. Thanks for cheating the primary, Krugman will destroy the credibility of Obama by giving him a coup d'etat research lines .
Posted by: darnobama | Sep 21, 2008 10:22:17 AM
From McCain-Palin campaign senior economic advisor Douglas Holtz-Eakin: "This is absurd... That crisis arose from corruption and regulators asleep at the switch. "
-------------------------
Perhaps McCain-Palin camp was talking about Paulson and Cox. Both are republicans.
U.S. Secretary of the Treasury, Henry Paulson is a Republican. He was also the CEO of Goldman Sachs, the company that forced Lehman out of business with short-sales and rumor-mongering. Lehman is the only company the Bush regime forced into bankruptcy while all the other Wall Street gang gets a bail-out.
Paulson has worked for Republicans his entire life -- as far back as the Nixon administration.
The Republican SEC Chairman, Christopher Cox was not asleep at the wheel. He deliberately left Lehman, Fannie and Freddie to fight off the rest of the Wall Street gang by NOT enforcing current laws on short-selling. When forced, he put in place some new rules that should have been made permanent. Instead, he let the rules expire. During the expired month which left the market unregulated, Lehman, Fannie and Freddie all failed. Immediately following these beat-downs of these companies, Cox made permanent the rules that would have saved them.
This is no coincidence. This is the Republican machine and cronism working as intended.
Just like in physical war, when it comes to financial battles, the Republican machine is as vindictive as ever. They have no shame. You're either with them or they will crush you in the name of protecting the tax payer.
Lord help us if the Republicans "deregulate" any other major industry like Healthcare.
Obama/Biden 08!
Posted by: Common Sense | Sep 21, 2008 9:07:20 AM
The comments are out of context and typical liberal trash. The concept McCain is talking about is having competition across statelines like you can go to a Wells Fargo ATM in Texas or Nevada and the fees are the same. I had to go to an emergency room in Tennessee, but I didn't have healthcare there, so guess who got stuck with the bill???
Posted by: Nick | Sep 21, 2008 3:50:28 AM
Not all Republicans are liers. I am a Republican voting for Obama, because I am tired of mcCains double talk. He picked Palin for a quick fix, but her record shows her quick fixes come with a long term price. Poor Wasila is having to deal with a debt that they will not get out of, until 2023. If Palin wins, sure she may send lots of money to cover her own debts, but that is not Ohios fault.She should think before shooting of at the mouth.
Posted by: historyforgotten | Sep 21, 2008 2:50:08 AM
You people who keep lying about Obama getting more money than McCain from Freddie Mac and Fannie Mae need to do your homework! Fact Check states that McCain actually received more money from Freddie Mac and Fannie Mae than Obama did! Obama refused to take money from PACS, giving him a total of $16,000 in contributions from employees of Freddie Mac and Fannie Mae! You republicans are such liars!
Posted by: Diane - Dallas, tX | Sep 20, 2008 11:11:08 PM
Mr. McGoo and Barbie To!!
Posted by: Leonard Peltier | Sep 20, 2008 10:17:49 PM
Douglas H-E, There is currently no more dishonest and dishonorable a politician than Republican presidential candidate John Sidney McCain. You can add his POW coverup to his mess created by his advisor Phil "I feel so sorry for your many problems, but you deserve them"Gramm.
Posted by: kravitz | Sep 20, 2008 8:48:26 PM
Douglas Holtz-Eakin I haven't had health insurance in years. My daughter and granddaughter don't have health insurance too. Obama/Biden are good people who care about us all. I think I would take my chances with them instead of someone like McCain who said on Monday that the economy is fundamentally sound.
Posted by: Lucy | Sep 20, 2008 8:13:52 PM
First the Blackberry, now the ATM.
Posted by: Gene L | Sep 20, 2008 7:42:35 PM
re: jcarob
'I guess I too share Michelle Malkins latest lament. It is sad.'
Since Malkin, Coulter, Rush, Hannity, Savage, Boortz et.al stand as the pinnacle of moron invective ..... yes, it is sad that you share anything with them
Posted by: Rex | Sep 20, 2008 4:42:19 PM
After flipping through the comments that follow each alleged "news" story proudly offered up by our big media journalists, I am coming to the inescapable conclusion that United States is fast forwarding into a country of morons. I guess I too share Michelle Malkins latest lament. It is sad.
Posted by: jcarob | Sep 20, 2008 4:11:19 PM
Belle Star
stop scaring people into voting McCain. That is very unpatriotic considering the fact that he has been proven to be wrong on all the issues. From the economy, healthcare, taxes, energy and foreign policy.
America needs a president with good judgment and new ideas like Obama.
Posted by: keith | Sep 20, 2008 3:45:15 PM
Fact is McCain`s ideology of deregulation for the past 26 years has been discredited by the current financial crisis we find ourselves. His healthcare plan and attempts to privatize social security is under serious question.
Obama has always been a supporter of regulation. Obama has been right and McCain has been wrong.
Wake up America. McCain has no judgment to lead.
Posted by: krista | Sep 20, 2008 3:40:49 PM
Post a comment
