Free Rise

For the first presidential debate, I’d like for the moderators to flash this chart on the screen.

Questions:

1. What does this chart mean?

2. What happened during the Clinton years that was different from the Reagan, Bush, and Bush years?

3. Every American citizen now owes about $30,000 for past federal spending. How will you reduce that?

4. Since 1980, the federal goverment has raised income taxes twice. What effect did those tax increases have on the economy?

The seizure and failure of credit markets are the most serious economic issues of our time. And so far, neither Republican candidate has demonstrated the slightest inkling of understanding of them. Here’s Gov. Palin on the campaign trail yesterday:

Transcript: “The fact is, Fannie Mae and Freddie Mac, they have gotten too big and too expensive to taxpayers. [Applause.] The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help.”

How can we expect economic leadership from this ticket?