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Friday, September 26, 2008

As members of Congress continue to flail about trying to come up with a financial rescue plan, much of what is driving the debate is the knowledge that so many Americans are opposed to bailing out Wall Street. It is that simple fact which is preventing the Democrats from just using their majorities in both houses to pass a plan, secure in the knowledge that the President will sign it. Fearing the wrath of the voting public, they want to make sure that the Republicans are also on board, so that it will be seen as a bipartisan plan. Republicans in the House sense the dilemma, and are using it to slow the process down with an eye toward passing a plan more palatable to their members, i.e. one that does not spend $700 billion of taxpayer money. Thus, the talks broke down last night and I, for one, am not sure when they can get started again.

Meanwhile, the credit markets are in lockdown, as lenders simply aren't willing to part with their cash until the issue of all this toxic debt is addressed.

Who can end the deadlock? John McCain. He can move Republicans in Congress toward a solution in a way that the lame-duck, and terribly unpopular, George W. Bush cannot. Bill Kristol examines some of the alternatives McCain should consider.

The McCain people have another problem, as a series of poor interviews has led influential Conservative columnist Kathleen Parker to call for Sarah Palin to remove herself from the ticket. I've seen bits of the interviews in question, and I get the distinct impression that Sarah Palin is clueless on issues of foreign policy and global economics. Of course, as a hockey mom, small-town Mayor, and even as a first-term Governor of Alaska, she has absolutely no reason to be well versed in these subjects. I think the McCain people know this, which is why they have tried to insulate her from these interviews. Of course, on the other side, the Obama people must be tearing their hair out every time Joe Biden opens his mouth. Perhaps we'd all be better of if both V.P. selections suddenly developed "health problems", so the men at the top of the tickets could get a re-do.

Pollster John Zogby says that despite the razor-thin margins in the current polls the election will probably end in a landslide, one way or the other.

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