Way back then, way back when, in the 1960's an American writer by the Name of Theodore H. White came up with a brilliant Idea: write a Book each four Years entitled ,,The Making of the President." The Idea met with great Success. Theodore H. White, who first wrote ,,The Making of the President 1960'' about the historic Kennedy-Nixon Campaign, went on to write Sequels about subsequent Presidential Elections, none as succesful as his First One, but still, all of them succesful enough. Today, this Tradition seems to have faded.
So, one wonders, what insightful Issue might be noteworthy enough to bring to the Forefront if one were to write a Book titled ,,The Making of the President 2012.'' Several Campaign Issues which have been played up by the two Candidates come to mind.
§ Jobs - this is an Issue that impacts every American.
§ The Economy - again, this is an Issue that also impacts every American as well.
Other Issues, be they in the Area of Foreign Policy, Women's Rights, Homosexual Rights, Minority and Immigration Issues, are all Policy Issues, which, while being important enough and likely to affect the Outcome of the Election in a profound Manner, are still issues which, directly, ipso Facto, do not directly and imminently affect every American in the same Way that Jobs and the Economy (Two Facets of one and the same Issue) do.
However, there is another Aspect which does affect each and every American and, at that, in a profound Way and that is the Deficit. Currently at $ 16 Trillion (it was 11 Trillion when President George W. Bush left Office) it is projected to rise in the upcoming Four Years, regardless of which Candidate wins the coveted Office.
http://economywatch.nbcnews.com/_news/2012/10/15/14453514-whether-its-obama-or-romney-either-will-face-huge-obstacles-on-economy?lite
And, aside from Generalities which are difficult to pin in Terms of tangible Policies, neither Candidate has a stark, aggressive and palpably effective Plan to deal with this Morass. Even more worrysome is the Fact that the Federal Debt is held largely in foreign Hands, China, surprisingly, Japan (No. 2), according to several Reports and then followed by other Countries.
More worrysome is the Fact that under Mr. Bernanke's Policies, the Federal Deficit has become more susceptible to short Term Effects, this, because of Mr. Bernanke's Implementation of something he calls ,,Operation Twist'' under which the Fed is retiring as much as possible of the Long Term Debt, in exchange for Short Term Debt at somewhat lower Interest Rates.
This, of course, has the Effect of reducing, in the Short Term, the Federal Deficit which would be worse if the Interest Rates paid by the Federal Government were higher rather than lower, as they would become and are becoming, under the Policy of swapping higher Interest Long Term Debt for (slightly) lower Interest Short Term Debt, sometimes as short as a Month, a Week, or even a Day.
http://bottomline.nbcnews.com/_news/2012/10/11/14370868-washington-must-avoid-fiscal-cliff-goldmans-blankfein-warns?lite
However, there is serious Danger in the Policy being pursued by Mr. Bernanke. Any Increase in the Interest Rates (on which the Fed has mercilessly kept the Lid on), would be ruinous for the Federal Debt. Higher Interest Rates would push Interest Expenses into the Stratosphere, worsen the Deficit and Situations like that are ocurring right now not only in Greece, but also in places like Italy and Spain. Mr. Bernanke does not tell us what Plan he has to deal with these Dangers and, what the Heck? He wants to retire after his current Term expires. Let someone else deal with that Problem.
But for the Presidential Candidates, there is another Aspect. The President of the United States, or an Aspirant to that High Office, the Highest Office in the Land can set an Example. An Example of a Modecum of Fiscal Discipline. And, Mr. Obama, who has been unable to exercise this and Mr. Romney who claims he has ,,Experience'' in Fiscal Discipline have both set an unglorious Example: this will be the First Presidental Election which will cost more than $ 1 Billion, which, as everyone else knows, is $ 1000 Million, that is to say, the Equivalent of $ 3,00 being spent for each Man, Woman and Child in the United States; that includes everyone, voting or non voting.
A significant Part of this Expenditure is yet to happen and it is about to happen now: in the last 10 hectic Days of the Election, on an unprecedented Advertising Blitz by both Candidates. That means, the Candidates would not be spending the Bulk of this Money on explaining or discussing the Issues which affect the Nation but rather, spending the Money on Advertising of one Sort of another. Someone even before Theodore H. White said that the campaign for President of the United States is akin to selling a Box of Cereal on Television.
http://firstread.nbcnews.com/_news/2012/10/17/14511630-ad-spending-tops-800-million-on-pace-to-reach-or-come-close-to-1-billion?lite
What Confidence can this Kind of senseless Spending instill in the Electorate that the succesful Candidate Ten Days from now, is going to have what it takes and it is going to take a Lot, an awful Lot, to bring Sense and Reason to a Financial Mumbo Jumbo built Brick by Brick by President Reagan with his Supply Side Economics Theories, President Clinton with his ,,Take the Money from here, put it there and balance the Budget'' Theories, President Bush with his we can do two Wars at the same Time and do everything else at the same Time Theories, Mr. Greenspan with his ,,Irrational Exuberence'' Theories, Mr. Bernanke with his ,,Operation Twist'' Theories and, and...Mr. Obama who, regardless of what one's Opinion might be of him, certainly was faced, for the last Four Years with a nagging Question: how do we get out of this Mess which took so long to create?
One Way, admittedly four Years later that both he and Mr. Romney could have done was: don't spend this Kind of ,,Irrational Exuberance'' Money to be elected President.
So, one wonders, what insightful Issue might be noteworthy enough to bring to the Forefront if one were to write a Book titled ,,The Making of the President 2012.'' Several Campaign Issues which have been played up by the two Candidates come to mind.
§ Jobs - this is an Issue that impacts every American.
§ The Economy - again, this is an Issue that also impacts every American as well.
Other Issues, be they in the Area of Foreign Policy, Women's Rights, Homosexual Rights, Minority and Immigration Issues, are all Policy Issues, which, while being important enough and likely to affect the Outcome of the Election in a profound Manner, are still issues which, directly, ipso Facto, do not directly and imminently affect every American in the same Way that Jobs and the Economy (Two Facets of one and the same Issue) do.
However, there is another Aspect which does affect each and every American and, at that, in a profound Way and that is the Deficit. Currently at $ 16 Trillion (it was 11 Trillion when President George W. Bush left Office) it is projected to rise in the upcoming Four Years, regardless of which Candidate wins the coveted Office.
http://economywatch.nbcnews.com/_news/2012/10/15/14453514-whether-its-obama-or-romney-either-will-face-huge-obstacles-on-economy?lite
And, aside from Generalities which are difficult to pin in Terms of tangible Policies, neither Candidate has a stark, aggressive and palpably effective Plan to deal with this Morass. Even more worrysome is the Fact that the Federal Debt is held largely in foreign Hands, China, surprisingly, Japan (No. 2), according to several Reports and then followed by other Countries.
More worrysome is the Fact that under Mr. Bernanke's Policies, the Federal Deficit has become more susceptible to short Term Effects, this, because of Mr. Bernanke's Implementation of something he calls ,,Operation Twist'' under which the Fed is retiring as much as possible of the Long Term Debt, in exchange for Short Term Debt at somewhat lower Interest Rates.
This, of course, has the Effect of reducing, in the Short Term, the Federal Deficit which would be worse if the Interest Rates paid by the Federal Government were higher rather than lower, as they would become and are becoming, under the Policy of swapping higher Interest Long Term Debt for (slightly) lower Interest Short Term Debt, sometimes as short as a Month, a Week, or even a Day.
http://bottomline.nbcnews.com/_news/2012/10/11/14370868-washington-must-avoid-fiscal-cliff-goldmans-blankfein-warns?lite
However, there is serious Danger in the Policy being pursued by Mr. Bernanke. Any Increase in the Interest Rates (on which the Fed has mercilessly kept the Lid on), would be ruinous for the Federal Debt. Higher Interest Rates would push Interest Expenses into the Stratosphere, worsen the Deficit and Situations like that are ocurring right now not only in Greece, but also in places like Italy and Spain. Mr. Bernanke does not tell us what Plan he has to deal with these Dangers and, what the Heck? He wants to retire after his current Term expires. Let someone else deal with that Problem.
But for the Presidential Candidates, there is another Aspect. The President of the United States, or an Aspirant to that High Office, the Highest Office in the Land can set an Example. An Example of a Modecum of Fiscal Discipline. And, Mr. Obama, who has been unable to exercise this and Mr. Romney who claims he has ,,Experience'' in Fiscal Discipline have both set an unglorious Example: this will be the First Presidental Election which will cost more than $ 1 Billion, which, as everyone else knows, is $ 1000 Million, that is to say, the Equivalent of $ 3,00 being spent for each Man, Woman and Child in the United States; that includes everyone, voting or non voting.
A significant Part of this Expenditure is yet to happen and it is about to happen now: in the last 10 hectic Days of the Election, on an unprecedented Advertising Blitz by both Candidates. That means, the Candidates would not be spending the Bulk of this Money on explaining or discussing the Issues which affect the Nation but rather, spending the Money on Advertising of one Sort of another. Someone even before Theodore H. White said that the campaign for President of the United States is akin to selling a Box of Cereal on Television.
http://firstread.nbcnews.com/_news/2012/10/17/14511630-ad-spending-tops-800-million-on-pace-to-reach-or-come-close-to-1-billion?lite
What Confidence can this Kind of senseless Spending instill in the Electorate that the succesful Candidate Ten Days from now, is going to have what it takes and it is going to take a Lot, an awful Lot, to bring Sense and Reason to a Financial Mumbo Jumbo built Brick by Brick by President Reagan with his Supply Side Economics Theories, President Clinton with his ,,Take the Money from here, put it there and balance the Budget'' Theories, President Bush with his we can do two Wars at the same Time and do everything else at the same Time Theories, Mr. Greenspan with his ,,Irrational Exuberence'' Theories, Mr. Bernanke with his ,,Operation Twist'' Theories and, and...Mr. Obama who, regardless of what one's Opinion might be of him, certainly was faced, for the last Four Years with a nagging Question: how do we get out of this Mess which took so long to create?
One Way, admittedly four Years later that both he and Mr. Romney could have done was: don't spend this Kind of ,,Irrational Exuberance'' Money to be elected President.
