The financial meltdown will change many things in America, and we can start with campaign promises. You can say goodbye to universal health care, a cornerstone of Barack Obama's campaign strategy. Massive medical benefits are now impossible because the bailout will take all the money.

Also, it's sayonara to John McCain's across-the-board tax cuts. The Democrats will likely control Congress again and, in the face of a $750-billion expenditure, there is little chance taxes will decline in any significant way.

So, both candidates find themselves losing a major core issue because of the greedy, stupid mortgage scandal.

Polls show that the folks are angry, as they should be. A Fox News survey puts President Bush's approval rating at 26 percent. Shortly after 9/11, the president had an approval rating of 88 percent, so you can clearly see how the once mighty have fallen.

Just two weeks ago, the Palin bounce had John McCain leading Barack Obama in just about every national poll. Now McCain has fallen behind Sen. Obama, and it's directly because of the economic madness.

Some Americans object to the feds bailing out companies that trafficked in risky mortgages. But if the government does not allocate taxpayer money to stop the economic bleeding, then what? Do you let the United States slide into a depression? The American economy is greatly dependent on foreign investment -- oil sheiks and Chinese entrepreneurs buying our stocks and bonds. If overseas investors believe the U.S. economy is fundamentally unstable, they will pull their money out. That would be catastrophic for America.

Basically, the feds are playing a confidence game right now. They are assuring the world that our economy will not collapse. That assurance is vital. Continued...