Bill Manzi.com

The Obama blueprint for energy independence for the United States. Note that he endorses clean coal technology, and gives a tepid tip of the hat to the potential for nuclear. Whether you are a Democrat or Republican the need for energy independence has never been more important, even with the slight decline in the price of a barrell of oil. A major difference between the campaigns, as McCain continues to focus on the non-substantive, and Obama presses on talking about things that matter. I would much rather talk about this subject than Bill Ayers.

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Sarah Palin appeared on SNL, and apparently drew the show’s biggest ratings in fifteen years. The liberal media elite opened the airwaves for Governor Palin, and she did just fine. Seeing her and Alec Baldwin together may be something that never happens again!

http://widgets.nbc.com/o/4727a250e66f9723/48fc9a5fd90520c4/48fc8ac1f744d8fc/f136e4d7/-cpid/ebd058c0d763da8c/clipID/773761/video_title/Saturday+Night+Live+-+Gov.+Palin+Cold+Open?storeInPid=true

Former Bush Secretary of State General Colin Powell endorsed Barack Obama today, abandoning the Republican Party and decrying their “narrow focus” on personal attacks instead of a concentration on the very serious issues facing the country. From MSNBC:

“I don’t believe [Palin] is ready to be president of the United States,” Powell said flatly. By contrast, Obama’s running mate, Sen. Joe Biden of Delaware, “is ready to be president on day one.”

Powell also said he was “troubled” by Republican personal attacks on Obama, especially false intimations that Obama was Muslim and Republicans’ recent focus on Obama’s alleged connections to William Ayers, the founder of the radical ’60 Weather Underground.

Stressing that Obama was a lifelong Christian, Powell denounced Republican tactics that he said were insulting not only to to Obama but also to Muslims.

“The really right answer is what if he is?” Powell said, praising the contributions of millions of Muslim citizens to American society.

“I look at these kind of approaches to the campaign, and they trouble me,” Powell said. “Over the last seven weeks, the approach of the Republican Party has become narrower and narrower.”

The hurdle gets a little bit higher for John McCain.

http://www.msnbc.msn.com/id/22425001/vp/27265490#27265490

Yesterday’s Washington Post and today’s Boston Globe detail the fiscal mess that may lead us to a one year federal fiscal deficit of one trillion dollars, enormous by any of the traditional measurement standards. And yet the notion that there is no need to balance the budget seems to be taking hold on the left, with the argument appearing to be that Bush spent irresponsibly for eight years, and his train wreck of a fiscal policy was wrong only insofar as his spending priorities were wrong. The fact that you cannot just run these types of deficits forever is ignored on the premise that important needs have gone unmet for so long. So the fact that the spending is “good” means that fundamental math can be ignored, or that Democrats now buy into the Dick Cheney argument that “deficits don’t matter”. It is dangerous hogwash, and a goodly part of the notion that everyone seems to have that good programs, or a strong military, or wars may be necessary, but lets defer talk of how to pay for them until the future. For now we can just borrow the money and worry about the consequences later. It was insane when Bush put it forward, and would be insane for a Democrat to embrace that type of nonsense now. Lets look at some of the sobering numbers from the Post story.

The Treasury Department so far has borrowed nearly $500 billion from pension plans, foreign governments and other investors to replenish the coffers of the Federal Reserve. Since the end of August, the national debt has jumped from $9.6 trillion to $10.3 trillion, with borrowing for the bank bailout yet to come.
Meanwhile, the budget deficit — the annual difference between government spending and tax collections — has risen rapidly. It jumped from $162 billion last year to $455 billion in the fiscal year that ended in September, largely because of the cost of the stimulus package, as well as slowing tax revenues and rising expenses in Iraq and Afghanistan. The budget picture looking forward is even bleaker. While the deficit is projected to be about $550 billion for the fiscal year that began Oct. 1, budget analysts have yet to figure in the effects of a recession, which could easily tack on another $100 billion. They also have not included the first $250 billion being spent on the bailout plan, which the White House budget office said this week must be added, even though much if not all of the money is eventually expected to be returned to the Treasury.

And with options for a second round of stimulus spending starting at $52 billion — the size of the package proposed earlier this week by Republican presidential candidate John McCain — it’s not hard to imagine the deficit rising to $1 trillion. That would approach 7 percent of the economy, a yawning budget hole not seen since 1946.

The Post talks of some of the costs of both McCain and Obama’s proposed programs, and asks the question that has been asked repeatedly to both candidates. Does the fiscal situation warrant some retrenchment on costs, or a revision of the thoughts on how to pay?

The spending proposals come on top of promises by both candidates to dramatically cut taxes. In addition, Obama has pledged to pursue expensive new initiatives to expand health care coverage and improve education. The candidates’ top economic advisers, Jason Furman of the Obama campaign and Douglas Holtz-Eakin for McCain, said they have no plans to reconsider those promises in light of the new economic realities.

McCain has even said that he could balance the federal budget by the end of his first term. More nonsense!

In the final presidential debate on Wednesday, McCain even repeated his pledge to balance the budget by the end of his first term, though Holtz-Eakin acknowledged that “the events of the past few weeks have made that considerably more difficult.”

You cannot balance the budget in four years, or eight years, without making difficult choices. Making difficult choices is not on any radar screen anywhere. And leaving partisanship aside it is that mindset that has put us into a real difficult situation economically. If it is worth spending then it is worth taxing for. Read the Washington Post story here.

A pretty good ad by Obama, not only continuing to tie McCain to Bush but cleverly using the facial expressions made by McCain during the debate to advantage here. McCain said during the Al Smith dinner that Obama had a pet name for him: George Bush. As he explains himself during this ad he voted with Bush even more than his Republican fellow travelers. I wonder how President Bush feels about everyone denying any proximity to him?

Shattering financial records Barack Obama has raised $150 million dollars in September, pushing his financial totals over $600 million and giving him the financial muscle to pressure John McCain in traditionally Republican strongholds. The financial disparity between the camps has given Obama a huge edge, and forced McCain to play defense almost everywhere. Astounding numbers!

Here is McCain taking some punishment from Letterman. Good sport for taking this on.