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Election 2008: A McCain Victory Won’t Mean Same Old Republican Story
One thing is clear about John McCain’s economic policies: They won’t be a mere continuation of George W. Bush’s policies. They can’t afford to be. While Bush’s tax cuts have been highly beneficial both to the stock market and to investors directly, the Bush Administration has taken what was a $150 billion federal budget surplus and transformed it into a $400-billion-plus deficit. That’s at a time when stock markets and real estate markets have been ebullient, producing lots of bonuses and capital gains to tax.
Most of the deficit increase has resulted from sloppiness on spending; only about one third of…
3Sep2008 | Money Morning | Comments Off | ContinuedElection 2008: Dawning of Democratic Convention Illuminates a Few Bright Spots For Investors
No matter who wins the looming presidential election – Barack Obama or John McCain – investors are likely to see a similar outcome: The new president will quickly remove the distortions in the U.S. and world economies that have resulted from this lengthy period of low interest rates, and he’ll do so without eviscerating portfolio values.
But while the outcomes will be similar – as we’ve reported – the routes the candidates will follow to achieve those similar outcomes are decidedly different. This week – in observance of the Democratic National Convention in Denver (see accompanying graphic) – I will look…
26Aug2008 | Money Morning | Comments Off | Continued
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