One of Obama's plans to "rescue" the American economy includes a "windfall" profits tax to punish oil companies for their "obscene profits." But the price of a barrel of oil fell from $147 per barrel in July to $101 today. Speaker Nancy Pelosi, D-Calif., assails the "oilmen" in the White House for rising oil prices. But the same "oilmen" remained in the White House during the more than 30 percent decline in prices. For what it's worth, the United States produces almost 7 percent of the world's crude oil supply. So somehow, someway, the greedy oilmen managed to push oil prices to worldwide historic levels, despite controlling only 7 percent of supply.
So what does this all mean for the presidential race between Sens. Barack Obama and John McCain? Issue No. 1, for most voters, remains the economy. Obama recently said he may delay tax hikes in the event of continued economic sluggishness. Obama thus admits that higher taxes negatively affect the economy during hard times. But during good times, higher taxes affect the economy positively? And as to the war in Iraq, polls show Americans now confident of victory. Credit the "surge" -- an increase in forces and a change in tactics long championed by McCain. Obama not only opposed the surge but also predicted its failure. He was wrong, and McCain was right.
Obama offers the George McGovern/Walter Mondale/Al Gore/John Kerry prescription of class warfare and class envy. It blames American "aggression" for its alleged loss of "respect" in the eyes of the world.
The other side shows greater belief in free markets and free trade, and considers American success in Iraq a matter of national security. Democrats attack McCain and his image as a "maverick" by claiming that the Arizona senator voted with President Bush 90 percent of the time. But Sen. Barack "hope and change" Obama, in the past three years, voted with his party nearly 97 percent of the time.
Americans, in the final analysis, want a strong economy and wish to live in safety and security. So the choice is simple. It's McCain.