With the election in its final days and political attacks taking center stage, Midnight wants you not to forget two very scary things! Sarah Palin and John McCain each said one very telling and very ominous thing in their debates. Take these two at their word and you will be scared, very scared.
Sarah Palin: Dick Cheney is a role model
At the VP debate, Sarah Palin was asked about the role of the Vice President and she said that she agreed with Dick Cheney that "we have a lot of flexibility in there." The NYTimes, in an editorial on October 4th, said that:
It is hard to tell from Ms. Palin’s remarks whether she understands how profoundly Dick Cheney has reshaped the vice presidency — as part of a larger drive to free the executive branch from all checks and balances. Nor did she seem to understand how much damage that has done to American democracy.
Transcripts (courtesy of CNN) show that Palin is in fact talking about the move by Cheney to argue that he was not subject to the laws governing the executive branch because he was not part of the executive branch. This was a move at least in part to avoid scrutiny of Cheney's possibly illegal activity. As a country we cannot take another VP as dangerous as Cheney.
IFILL: Governor, you mentioned a moment ago the constitution might give the vice president more power than it has in the past. Do you believe as Vice President Cheney does, that the Executive Branch does not hold complete sway over the office of the vice presidency, that it it is also a member of the Legislative Branch?
PALIN: Well, our founding fathers were very wise there in allowing through the Constitution much flexibility there in the office of the vice president. And we will do what is best for the American people in tapping into that position and ushering in an agenda that is supportive and cooperative with the president's agenda in that position. Yeah, so I do agree with him that we have a lot of flexibility in there, and we'll do what we have to do to administer very appropriately the plans that are needed for this nation.
John McCain: We'll buy up mortgages and renegotiate them
This sounds innocuous enough - in fact the current bailout plan calls for something like this. But McCain insisted in the debate that this was his idea and that it was new. Why? What McCain is now proposing is an extremely expensive plan that will give banks full value for failing mortgages and then renegotiate the mortgages to the current market value - which still may not be affordable to the homeowner! With this plan the banks win, the homeowners might win, but the taxpayers are going to absorb the losses on loans that exceed the value of the homes. Essentially it rewards banks for their poor lending decisions. Here's a picture that explains why McCain's new plan completely screws over the American taxpayer and gives our money to banks.
Lest you think Cats are the only ones complaining loudly about this horrible proposal, here are a few reactions from liberal and conservative observers:
Paul Krugman says it "manages to take everything that's wrong with the Paulson plan and make it worse." Brad DeLong: "Out of the blue, McCain has just proposed a large, no-strings-attached gift of taxpayer cash to bank executives who failed at their business of risk management, and to bank shareholders who failed at their business of hiring executives. That's simply corrupt."
The National Review says "Here's what's wrong with McCain's new housing proposal: it can't improve on current law without rewarding an unacceptable amount of bad behavior." And finally, the Wall Street Journal notes that it "appears to offer no upside for taxpayers."
- Midnight
www.cats4obama.com
My humans went to see Barack Obama speak in Westminster, Colorado today! Their favorite line from Barack's speech: 



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