The Political Dispatch

The Fallacy of Higher Taxes and Job Lose

October 26, 2008 in Uncategorized | Tags: 'market value', 'real value', Budget Surplus Clinton, business cycles, causes of real estate bubble, Clinton tax policy, Clinton's Economy, consumer spending, distribution of wealtheconomic polarities, economic expansion, Free Market Economy, job creation under Bill Clinton, Obama's tax policy, stock market 'bubbles and bursts', systemic imbalances, tax cuts for the rich, Taxes and Job Lose Fallacy, trickle down fallacy | No comments

We have heard the arguments from McCain and others that Obama’s plan of raising taxes for the top 5% income earners (while giving tax cuts to the other 95% of workers) will result in lose of jobs and the further deterioration of the Economy. This argument has been made before by Republicans and requires closer examination. It was made by the Republicans in their efforts to defeat the Clinton tax plan in 1993. The Clinton tax policy then is very similar to what Obama is proposing now. Clinton did raise taxes for the top 5%. So what happened? We had eight years of unparalleled economic growth with some 23 million new jobs created by the Clinton Economy of the 90’s, and budget surpluses “as far as the eye could see” by the time that George W. Bush took over as President. These budget surpluses were to pay down the National Debt and strengthen Social Security and Medicare. Instead, the Republican Administration used the Clinton Budget Surpluses for tax cuts to the rich (”Why do Republican Administrations Love Budget Deficits?”). That’s what recent history teaches us. But the fallacy does not stop there!

What do the rich do with their tax cuts? McCain and the Republicans argue that the rich expand their businesses and so create new jobs. But that’s just plainly false. Economic expansion is driven by greater demand and consumer spending. When the working middle class has no money to spend, they curtail their consumption and so reduce demand and the economy slows down. Tax cuts going to the rich will not solve this problem. The rich can already buy anything they need whenever they want. It’s what makes them wealthy! So more disposable income going to the rich will not increase demand and economic growth. If anything, it will simply drive prices up since the ‘value of money’ is diluted when there’s more money in their pockets to spend.

The argument is also made that tax cuts to the rich will go into wages for new workers. Again plainly wrong. The wages of a worker come from their productivity. They earn their pay by the work they do. Businesses hire more workers because of increased demand, not because of tax cuts. And if the consumers are not spending, businesses plainly will not expand and hire. Consumer spending is what drives the Economy. By putting more money in the pockets of the working middle class (as Obama wants to do for the 95% of the income earners) we are able to stimulate greater economic activity ‘from the bottom up’. This will build a stronger economy that will benefit everyone.

A strong argument can also be made that tax cuts to the rich go to buying stocks in Wall Street. This extra disposable income that is pumped into the stock market has the effect of raising stock prices and creating ‘bubbles and bursts’ in Equity Markets. Free Markets act like auction blocks. The purchase goes to the highest bidder. When there are significant systemic imbalances in the purchasing power of buyers the prices obviously will go up for everyone, resulting in an imbalance between ‘market value’ and ‘real value’ with subsequent ‘bubble bursts’ market corrections.

The Real Estate Market is also a place where the prices of houses are their ‘market value’ as determined by ‘comparable sales’. The more capital (through easy mortgages and huge tax cuts to the wealthy) the higher the ‘market value’ for houses. But such ‘market value’ does not reflect ‘real value’ (what the average consumer can afford to pay). And so you get once again ‘bubbles and bursts’ in the real estate values, as we have been experiencing recently. This tension and contradiction between ‘market value’ and ‘real value’ may also account for the ‘business cycles’ our Economy regularly goes through.

When there are significant systemic imbalances in the distribution of wealth in the Economy, ‘market value’ will far exceed ‘real value’ resulting in severe and abrupt disruptions in our Economy. We are experiencing this now. Though the causes may be many and technical, an aggregate overview would spot extreme polarities, tension and imbalances in our Economy and would recognize this as the true underlying dynamic and cause to our current crisis.(”Wall Street Meltdown and the Collapsing Middle Class“). The working middle class are the building blocks of our Economy. They collectively give form and substance to the Economy. But even the best design cannot hold up a building if the bricks are deteriorating and crumbling.

The Testing of a President

October 23, 2008 in Uncategorized | Tags: 'cowboy diplomacy', Barack Obama, campaign 08, change we need, Colin Powell, Cuban Missile Crisis, election 08, Financial Meltdown Crisis, John McCain, Kennedy, prominent Republican leaders, testing of a President | 3 comments

It is true that John McCain, the soldier, has been tested in the prisons of Hanoi. He is a true hero deserving our admiration and respect. But Presidential leadership is markedly different from a soldier’s endurance in enemy hands. A President has to have the right judgment and temperament to make wise decisions. A President needs to have intimate knowledge of the lives of people and the problems the country faces. And a President needs to be steady, calm and reassuring in the face of serious national crisis with dire consequences for all of us.

Both Obama and McCain have been tested in the recent Financial Meltdown Crisis. Obama passed the test with flying colors. McCain dismally failed it! He showed us that at a time of national emergency he is erratic, reckless, contradictory, unpersuasive and unwise (”McCain Miscalculates – Again!”). If President Kennedy had shown such qualities during the Cuban Missile Crisis, we would have had a Nuclear Holocaust. That young McCain was sitting ready in the cockpit of a navy jet during that Crisis does not give him any special credentials of handling a similar crisis as President.

We need a change in direction, both domestically and in our foreign policy. The election of Barack Obama as our President will signal to the World that Americans are ready for change. The election of John McCain as our President will confirm the failed policies of the last eight years. It will embolden our enemies (who gained much strength and credibility by our ‘cowboy diplomacy’) and disillusion our friends at a time of a Global Economic Crisis. The choice is clear! It’s the choice of Colin Powell and many other prominent Republican leaders: Barack Obama!

John McCain’s ‘Class Warfare’

October 22, 2008 in Uncategorized | Tags: 'amassed wealth', 'Class Warfare', 'Cost of Everything Accounting', 'costs to business operations', 'exorbitant wealth', 'Free Market Economics', 'Joe the plumber', 'paper wealth', 'produced wealth', 'redistribution of wealth', 'social polusion', 'Spreading the wealth', 'systemic redistribution of wealth', 'taking from the rich', 'the rich and the rest', 'true earnings', Conservative thinking and policies, economic polarization, election 08, Obama, reverse class warfare, Socialism, socioeconomic costs | No comments

When all else fails, count on the Right to raise the red flag of ‘Class Warfare’. Barack Obama’s comment to ‘Joe the plumber’ about “spreading the wealth around” was quickly seized by McCain to accuse him of Socialism. In light of the trillion plus dollar bailout and government ownership of failing banks by a Republican Administration, voted by McCain himself, this charge on the face of it seems desperate and hypocritical. But it’s more than that! It reflects a selfish attitude that only the 5% of Americans are entitled to the country’s wealth and any attempt to ’spread the wealth around’ will unfairly leave the privileged wealthy less wealthy. Underlying this view is the feeling that such exorbitant wealth was earned only through hard work and exceptional intelligence.

Don’t misunderstand my position. I have great admiration and respect for all great achievements of any human being. I am as reverent of our great thinkers (Pythagoras, Newton, Einstein and so many other great geniuses whose intellectual products are the heirloom of all Mankind), as I am of capable entrepreneurs that can create great wealth. And I would never advocate ‘taking from the rich’ to ‘give to the poor’. But even the greatest achievements do not happen ‘in a vacuum’. That even the most successful entrepreneurs do not make their money in isolation and all by themselves. They need an Economy and a Political System and Intellectual Products and Technology that make wealth possible. They need a country that functions well and a social order which carries with it socioeconomic costs to maintain. When a factory pollutes our environment we all suffer and pay. When a factory moves overseas for cheap labor and unregulated operations it leaves behind much ’social pollution’ with costly consequences for all of us. The natural resources used by private businesses took nature an eternity to produce and their use depletes all of us now and forever. These are costs to business operations that are never accounted in Free Market Economics. We need a ‘Cost of Everything Accounting’ to measure true earnings of individuals.

Not all of the ‘wealth amassed’ is ‘wealth produced’ with real products in the real economy. Much of the recent wealth made in Wall Street is only made ‘on paper’, often overnight without any ‘real wealth’ added to our Economy. Yet this ‘paper wealth’ can buy real goods and services. It can send kids to expensive schools and buy houses in the best of neighborhoods. This is one way you get redistribution of wealth from ‘the bottom up’ –- wealth going to the ‘rich’ taken from the ‘rest’. Every ‘financial bubble and burst’ is a redistribution of wealth with nothing of real value added to our economy. There are other ways as well that wealth gets distributed through government policies, including the unregulated manifold leveraging by Investment Banks of ‘real money’ to ’borrowed money’. Simply stated, policies and practices put in place by Republican pro-business political thinking has created a system that has polarized our country and our Economy. This systemic redistribution of wealth to the top 5% is the true ‘class warfare’ that is now bringing down our Economy. But it is not the ‘class warfare’ that McCain is ‘fighting’. McCain is just not fighting for us or our country. Sadly, he’s adding to our economic woes (”McCain: more bull, more pork, more risky“) and does not understand that we are all connected. When imbalances in our Economy are allowed to persist for a long time we’re all at risk and suffer (”The Wall Street Meltdown and the Collapsing Middle Class“). Obama clearly understands this and is the reason why he is running for President. McCain is just running!

State of Denial

October 15, 2008 in Uncategorized | Tags: 'knee-jerk diplomacy', election 2000, exit polls, Florida 2000 election, Joe Libbermann, McCain campaign strategy, McCain on foreign policy, McCain's election, McCain's primary resurgence, McCain's propensity, McCain-Bush, Obama, political meddling, political spin, recent Presidential elections, Republican campaign strategy, rescue of economy, Russia-Georgia crisis, state of denial | No comments

Yesterday (Oct. 14) in an interview with CNN reporter Dana Bash, McCain exuberantly proclaimed his campaign was doing “just fine”, that he had Obama “just where we want him”. This is in stark contrast to all the political polls and trends of voter shifts towards Obama. As red state after red state turns purple and blue, it’s hard to believe that McCain was mindlessly spinning facts and hoping for miracles. Certainly we have politicians put on a ‘good face’ and ‘contagious optimism’ bending perceptions to their political will. This is a successful campaign strategy when issues are not so momentous and crucial. An energetic confident political posture would be often enough to attract voters. But this time, conditions are different and voters are compelled to choose change and solutions to our pressing problems. But not McCain. (”McCain’s Choice: Politics before Country“)McCain is still stuck to the past and spoiled by the success of Republican campaign tactics. McCain is in a ’state of denial’. As much over his campaign failures, as over the real life that people live every day.

Just a week before the Wall Street Meltdown, McCain thought the “fundamentals of the economy are strong”. He is out of touch with our economy and he is out of touch with our foreign policy. He strongly supported Bush’s War on Iraq, confuses (”Major Gaffe”) Afghanistan with Pakistan (often to be corrected by Joe Lieberman at his side), thinks the ’surge has succeeded’ in Iraq, and America should strongly condemn and punish Russia over their incursion into Georgia this summer. Yet, it is now very apparent, and European leaders agree, that Georgia provoked this crisis. (”McCain Revealed!”) McCain’s ‘knee-jerk diplomacy’ is not what we need. His propensity to ‘act first, think later’ is risky and dangerous. His flight to Washington to ‘lead the rescue’ of our Economy in a crisis shows political meddling with delicate economic issues he knows little about. His erratic and rash behavior threatens our well-being. (”McCain Miscalculates - Again!”)

So what makes McCain so confident about his election as President? Being out of touch and in a state of denial is one explanation. I’m apprehensive, however, that there may be more to this than psychology. McCain’s resurgence in the primaries after being written off by everyone points to hidden underlying forces and actions that politically advance him. (”Bush-love! paying homage to ‘the Don’ and the turning of McCain“) We’ve seen much volatility and unexpected outcomes in recent Presidential elections, starting with the 2000 election of George W. Bush. And this election may be the most important in our lifetime. The Presidency is not going to be so easily given up by those now in power.

In the 2000 election all exit polls had Florida going to Gore. These polls had never been wrong before. But in a TV interview of the Bush family watching the returns, Barbara and Bush Senior were confident that Florida was going to go to George W. That brother Jeb, the Governor, assured them as much. Such confidence in the final outcome then is very reminiscent of McCain’s confidence now. I await with apprehension how it will ‘go down’ this time.

The Race for Obama

October 12, 2008 in Uncategorized | Tags: 'real Obama', bigotry, Bridge to Nowhere, character assasinations, conservative definition of America, conservative values, Constitutional requirements for President, country first, definition of America, dirty politics, fear and intollerance, frightened electorate, government is the problem, McCain's followers, Obama's citizenship, political hired guns, racism, Republican Presidents | No comments

In the race for President we can expect in the remaining three weeks McCain supporters to use any tactic to try to destroy the character of Obama and create doubt, mistrust and fear. There is much mindless chatter now on the web about the ‘real Obama’. Is he a natural born American? Is he even a ‘citizen’? Does he meet the Constitutional requirements to run for President? Was he born in Kenya? Was he born at all! Is he a Moslem, a domestic terrorist, a foreign agent? Confused and frightened people will ‘cling to conserve’ what’s familiar, and time after time vote against their interests. Fear, intolerance and mistrust have created deep fissures in the American political landscape. Divisions that the ‘privileged interests’ effectively used to elect Republican Presidents. Vain narcissistic politicians (”Bush-love! Paying homage to ‘the Don’ and the Turning of McCain“) become their hired guns to kill the hopes and aspirations of ordinary people, turning them against their own government and interests. “Government is the problem, not the solution” we are repeatedly told. While all the time, Government becomes the means to make the powerful more powerful and the wealthy more wealthy.

McCain, acting as statesman, can do much to bridge these divisions. Instead, he gives us a “bridge to nowhere” (”Bush-McCain’s Bridge to Nowhere“). His feeble attempts to stem the rising tide of bigotry among his supporters I view as more political calculation. He scores political points when he ‘appears’ that he is putting the ‘country first’. But close and clear examination of his actions indicate otherwise (”McCain the Divider!”). He could have reassured his frightened followers that Obama is a ‘real American’. Instead, he chose to speak of Obama as a ‘citizen’ (”Citizen Obama?”). The conservative definition of America differs greatly from ‘citizenship’. And McCain cynically (or because he also feels the same) chose to exploit these deeply held attitudes that are the breeding grounds of racism, intolerance, prejudice and fear. McCain the candidate chose not to help frightened voters overcome their irrational fears. But Obama the President will prove to them that they have ‘nothing to fear but fear itself’!

Citizen Obama?

October 11, 2008 in Uncategorized | Tags: "decent family man", Arab citizens, citizen Obama, conservative radio, election campaign, email rumors, false rumors, McCain town meeting, Obama Arab, Obama Moslem, Obama not trusty | No comments

In a town meeting event today McCain tried to reassure a scared white woman, who can not trust Obama because she believes he is an Arab, that Obama is a “decent family man, a citizen”. A “citizen” ? We have many Arabs who are citizens! McCain just could not bring himself to calling Obama an American! McCain intentionally didn’t want to dispel the false rumors circulating in emails and conservative radio that Obama is a Moslem and not to be trusted. Combine this with Sarah Palin’s association of Obama with domestic terrorists and you get a disturbing picture of a desperate campaign out of bounds, poisoning our politics and dividing our country (”McCain the Divider“) at a time when we need national unity. McCain cynically and hypocritically places himself above the fray of political character assassination. He is setting us up for more malicious nasty attacks in the remaining weeks, letting his surrogates and ads do his dirty work. His followers are getting more angry and hostile, calling for blood and getting uncontrollable. How sad that this should become the legacy of an American hero who asks that we put “country first”. For McCain, putting “country first” is another way of putting “politics first”.

McCain the Divider!

October 10, 2008 in Uncategorized | Tags: American Dream, Ayers, Conservative supporters of Sarah, dividing America, election 08, expanding financial crisis, global financial cresis, McCain erratic, McCain risky, McCain's Dream, McCain's flight to Washington, national economic crisis, National Security, Obama, political ambitions, political will, presidential election, Rescue Plan, Sarah Palin, statemanship, Wall Stree meltdown, wedge issues | 1 comment

With our financial institutions collapsing all around us and our economy on the brink, all McCain offers us is a 60’s student radical and a fund raiser for Obama held in his house some 13 years ago. These are desperate acts by a selfish and determined candidate who will do and say anything just to be elected President. McCain is dividing our country with negative innuendoes and wedge issues that aim to change the subject but keep the ’same as usual’ politics and policies. At this time of national crisis McCain puts politics ahead of country and is putting all of us at greater risk - just to achieve his dream of being President (”McCain’s Dream our National Nightmare“). We need a real ‘uniter’ not a ‘divider’ to help build the national political will to get us out of the mess we’re in. McCain’s bizarre flight to Washington couple of weeks ago to ‘lead the rescue’ has delayed urgent timely intervention and may have contributed to expanding the problem and making things worst globally.

These are not actions of responsible leadership that has the country’s best interests in mind. Instead of uniting us to see this crisis through, McCain is dividing us for his own political ambitions. But McCain has put us at risk before, with his selection of Sarah Palin a heart-beat away from the Presidency (”McCain’s Choice: Politics before Country“). Can anyone seriously argue that Palin has the character, temperament, experience and qualifications to step in as Commander in Chief and solve our national security economic crisis? Even her hard core Conservative supporters only argue how much she has ‘energized the base’, how well she delivers her scripted bullet points, how personally charming, poised and appealing she is – qualities that they hope will help elect McCain. These qualities may give her celebrity status, but not statesmanship. She would be an unmitigated dismal failure as President. Yet McCain has recklessly risked that chance and put all of us in grave danger just to have his dream. If only we could give him an ‘honorary degree’ of Presidency to get him out of our way and save our American Dream.

Obama the Great! reflections on the debates

October 9, 2008 in Uncategorized | Tags: American Dream, debates, energy policy, McCain, Obama, Presidential debates, renewable energy fighting terrorism, Sarah Palin | No comments

In the presidential debates Barack Obama demonstrated unequivocally that he has the knowledge, judgment and temperament to be our Commander in Chief. He demonstrated strength even in such areas as national security and fighting terrorism (”McCain Revealed!”). He showed complete grasp of the issues, had thoughtful well-reasoned responses, and was articulate and empathetic. His understanding of the problems we face as a country comes from the bottom up and he draws from his own experiences growing up in America. He is calm, focused and wise (”McCain Miscalculates - Again!”). He knows what ails America and the change we need to make us great again. His prescription for our economic woes I believe to be on target. He understands that America is strong when ordinary working Americans are doing well. (”Wall Street Meltdown and the Collapsing Middle Class“)

Many of our problems come from our over dependence on foreign oil which runs our economy, influences our foreign policy and destroys our environment. By taking a new direction and developing clean renewable energy we can put our economy on a new track, have better options with our foreign policy and national security, save our environment and lead the World once again toward a more secure, prosperous and peaceful Future.

Barack Obama has been ‘presidential’ - whether in the debates or in the Wall Street Meltdown crisis. He is reassuring and optimistic with his public statements and press conferences. He has the unique attributes to unite us and restore our credibility abroad. John McCain on the other hand offers ‘more of the same’ failed policies of the past. John McCain just wants to be President (”McCain’s Dream our National Nightmare“). His choice of Sarah Palin was purely political to help get him elected (”McCain’s Choice: Politics before Country“). In desperation, we can expect from his campaign in the remaining four weeks more negative slurs and distortions. But this election is about saving the American Dream and this time negative campaigning and cultural divides just wont work.

McCain: more bull, more pork, more scary!

October 6, 2008 in Uncategorized | Tags: country first, deterioration of financial markets, House Republican's, McCain bizare and erratic, McCain bull, McCain flight to Washington, McCain leadership, McCain pork, McCain Presidency, McCain too scary, national consensus, national crisis, political self-interests, pork barrel spending, real crisis leadership test, Sarah Palin, the Rescue Bill, unethical politicians, Washingtom reform, White House meeting Rescue Plan | 4 comments

McCain claims only he can reform Washington. That he and Sarah will stop pork barrel spending and special interest earmarks. That he would take his pen (waiving it in air) and veto any legislation with pork spending earmarks and expose the unethical politicians to public humiliation. That he McCain has the unique ability to work with Republicans, Democrats and Independents to put ‘country first’. (”McCain’s Choice: Politics before Country“)

Recent events, however, expose such claims by McCain as ‘more bull’. His bizarre, risky and erratic flight to Washington amidst a dire national crisis produced some talking points and photo ops for his campaign, but only made the delicate negotiations between Congress and the White House more difficult. The White House meeting that was to bring all the parties together and show McCain’s leadership qualities proved a dismal failure (”McCain Miscalculates - Again!”). It made matters worst. It delayed urgent timely resolution to this crisis which led to further deterioration of the financial markets worldwide. It put all of us at greater risk. And it was McCain’s own House Republicans that were the obstructionists, acting out of Ideology and political self-interests.

But what really shows the ‘bull’ in McCain’s rhetoric is his Senate vote of the Rescue Bill laden with special interest pork that he promised would veto as President. True, this was a national emergency so it can be argued that he held his nose and agreed to this extortion. But if McCain can’t persuade his own Republican colleagues to put ‘country first’ and leave special interest pork out of a Rescue Bill, how could he ever sway them as President under more normal circumstances? McCain’s leadership qualities were tested in this real crisis and he failed the test! His actions were bizarre and erratic, putting ‘politics before country’ while putting all of us at greater risk.

McCain’s behavior and judgment in a crisis should make us very apprehensive about a McCain Presidency. We are facing some very difficult times and serious problems as a nation (”Wall Street Meltdown and the Collapsing Middle Class“). More than any other time in recent history Americans need to be united by a common purpose to face a dire threat from within – the collapse of our Financial Institutions and the World Economy. These are the times that beg political leaders to show calm resolve and sound judgment, putting ‘country before politics’. These are the times of responsible campaigning that seeks to build national consensus to solve severe problems. John McCain will say and do anything just to be elected President. It is scary! (”McCain’s Dream our National Nightmare!”)

The Trickle Down Fallacy: Greed Takes It All!

October 4, 2008 in Uncategorized | Tags: 'kings and barons', 'modern kings and barons', American productivity, Barack Obama, collapsing middle class, Conservative Ideology, Conservative slogans, corparate irresponsibility, corporate greed, deregulation, economic meltdown, fallacious slogans, fear of terrorism, free markets, John McCain, outsourcing of American manufactoring jobs, Religious Right, Republican Party loyalty, speculative wealth, tax cuts, tax cuts for the rich, The Patriot Act, trickle down fallacy, trickle down theory, unleashing American ingenuity, working middle class | No comments

For some forty years now we have as a nation prescribed to the Conservative Ideology that, by helping those at the top that have the most to have more, greater wealth will be created which will trickle down to the rest of us. That we can unleash American ingenuity from the top down through tax cuts and deregulation for large multi-national corporations, helping them make more profits. But the practical reality is very different from this. Corporate greed resulted in outrageous high management salaries and compensation, outsourcing of American manufacturing jobs to China and elsewhere, inefficiencies and irresponsibility, and speculative wealth creation in Wall Street that’s only on paper with nothing produced of real economic value. This ‘trickle down theory’ has created a new class of ‘kings and barons’ that possess most of the wealth of the country with ‘trickle down crumbs’ for the rest to the people.

The ‘kings and barons’ of old were able to maintain their hold on power through fear, loyalty, patriotism, religion and military strength. Certainly these parallel well our own political experience, with the rise of the Religious Right, Republican Party loyalty, flag waving patriotism, fear of terrorism, and police-state powers of ‘The Patriot Act’ . What makes our world however different from the world of old is the Modern Economy that has evolved over the last 100 years. This Economy is dynamic, cyclical and has incorporated all segments of the society, including workers, capitalists, consumers and investors. And it is also now global in scope. Any one of its components malfunctioning will send the whole organic system to a decline. Our Economy needs a large and thriving working middle class to maintain growth and stability. When the middle class is squeezed, as it is currently the case, the whole economy suffers and declines (”Wall Street Meltdown and the Collapsing Middle Class“). The ‘trickle down’ policies of the Conservative movement has left the middle class weak and collapsing.

Correct solution requires clear understanding of the problems we are facing. Barack Obama gets it! John McCain just does not get it (”McCain: Out of Touch and Out of Mind on the Economy“). He still prescribes to the same old worn out and fallacious slogans of tax cuts for the rich to unleash American ingenuity, greater deregulation, free markets to solve our problems (”Free Markets and Forest Fires“), government is the problem not the solution, and on and on. We’ve heard all these many times before. You can fool some of the people all of the time with these. But you cannot fool all of the people all of the time. In this election the harsh realities of the economic meltdown and the collapsing middle class belie all of the Conservative slogans of the past. We need instead to unleash American productivity from the bottom up through tax cuts and programs that help working middle class people provide for their families better wages, better education, better health care, affordable housing, and clean renewable energy. Barack Obama sees this clearly. John McCain does not!

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