Wednesday, September 10, 2008

Palin's First Blunder

Making it worse, it has to do with one of the next administration's first problems - the housing market.

Speaking before voters in Colorado Springs, the Republican vice presidential nominee claimed that lending giants Fannie Mae and Freddie Mac had 'gotten too big and too expensive to the taxpayers." The companies, as McClatchy reported, "aren't taxpayer funded but operate as private companies. The takeover may result in a taxpayer bailout during reorganization."

Economists and analysts pounced on the misstatement, which came before the government had spent funds bailing the two entities out, saying it demonstrated a lack of understanding about one of the key economic issues likely to face the next administration.

"You would like to think that someone who is going to be vice president and conceivable president would know what Fannie and Freddie do," said Dean Baker, co-director of the Center for Economic and Policy Research. "These are huge institutions and they are absolutely central to our country's mortgage debt. To not have a clue what they do doesn't speak well for her, I'd say."

What's another big priority? Iraq, and Presidential Candidate John McCain isn't even sure where it is. BOY it feels good to be able to be honest about these things. GOP moderates, come on over!

1 comment:

TomC said...

What's even better is that none of this matters. She has Jesus on her side and therefore anything she says is irrelevant. God will provide and all that jazz... I'm impressed with your posting volume.