Posted on Tuesday, September 30th, 2008 by campaign2008
Responding to news of the failure of the Wall Street bailout legislation, Sen. John McCain (R-AZ) said it is “time for all members of Congress to go back to the drawing board.” He reiterated principles he hoped the bill would follow, including “responsible oversight, effective transparency, added protections for the taxpayers, and a cap on excessive salaries for executives.” He also said the bill should “have no earmarks.”
Sen. Barack Obama (D-IL) responded by assuring voters that an emergency package will be passed and that “we are not going to lose jobs at an even faster clip than we are doing right now.” On Tuesday, Obama proposed raising the current limit on federal deposit insurance from $100,000 to $250,000 as part of the economic rescue deal.
TRADE: Congress on Monday passed the Mercury Export Ban Act of 2008, which Obama introduced in March 2007. The bill bans the export of mercury from the United States. “I am proud this bill will now remove a significant portion of mercury from the global market,” Obama said in a statement.
Posted in Economy, General Election, Morning Update, Trade | 0 Comments »
Posted on Monday, September 29th, 2008 by campaign2008
Both presidential candidates said Sunday they will likely support the proposed $700 billion federal financial bailout deal. On Face the Nation Sunday, Sen. Barack Obama (D-IL) repeated his call (PDF) to “update our 20th century regulatory framework for a 21st century global financial system.”
Asked on ABC’s This Week whether the proposal satisfied his principles, Sen. John McCain (R-AZ) replied, “Yes, protect the taxpayer, make sure that there isn’t excessive compensation for CEOs, a oversight body, not leaving all the decisions in the hands of one individual.”
DEBATE: The New York Times pointed out a “role reversal” among the presidential candidates policy toward Pakistan in Friday’s debate.
The Atlantic’s Marc Ambinder examines the candidates’ argument about negotiating with Iran.
Posted in Economy, General Election, Iran, Morning Update, Pakistan | 0 Comments »
Posted on Friday, September 26th, 2008 by Joanna Klonsky
The American public is increasingly optimistic about the situation in Iraq, but is not as interested as it once was in global engagement, a new survey from the Pew Research Center for the People & the Press and CFR shows.
–According to the poll, 58 percent of Americans say U.S. military operations in Iraq are going well. Still, 45 percent say the United States should keep troops in Iraq, while 50 percent say the United States should withdraw. By comparison, a recent Chicago Council on Global Affairs public opinion survey (PDF) showed 67 percent of Americans say the United States should withdraw right away.
–The study shows major differences between the political parties on other issues. 28 percent of Republicans and 43 percent of Democrats say strengthening the United Nations should be a priority. The Chicago Council on Global affairs survey showed 39 percent of all Americans said strengthening the United Nations is very important.
–22 percent of Republicans say dealing with climate change should be a priority, compared with 64 percent of Democrats. 76 percent of Americans rated energy independence a top priority. This figure corroborates the findings of the Chicago Council on Global Affairs study, which showed 80 percent of Americans said securing adequate energy supplies is “very important.”
–In 2004, 47 percent of Americans listed the prevention of genocide as a top foreign policy goal for the United States. Now, the study shows, only 36 percent prioritize genocide prevention.
The poll also looked at presidential politics, noting that a large majority of swing voters view Sen. John McCain (R-AZ) as better equipped to deal with foreign policy than Sen. Barack Obama (D-IL). 60 percent of Americans say the next president should focus on domestic policy rather than foreign policy.
Posted in Climate Change, Energy Policy, General Election | 0 Comments »
Posted on Friday, September 26th, 2008 by campaign2008
Both presidential candidates spoke at the Clinton Global Initiative conference on Thursday. Sen. John McCain (R-AZ) stressed the need to limit carbon emissions. “To make the great turn away from carbon-emitting fuels, we will need all the inventive genius of which America is capable,” he said. “We will need as well an economy strong enough to support our nation’s great shift toward clean energy.”
Sen. Barack Obama (D-IL) pledged to reduce greenhouse gas emissions by 80 percent by 2050. He also emphasized the security threats posed by spreading poverty, saying it “leads to pockets of instability that provide fertile breeding grounds for threats like terror and the smuggling of deadly weapons that cannot be contained by the drawing of a border or the distance of an ocean.”
PALIN: In an interview with CBS Evening News on Thursday, McCain’s runningmate, Gov. Sarah Palin (R-AK), said she does not believe Pakistani President Asif Ali Zardari is protecting al-Qaeda. She added she believes the Pakistani people “want democratic values to be allowed in their country, also. They understand the dangers of terrorists having a stronghold in regions of their country.”
Posted in Climate Change, General Election, Morning Update, Pakistan | 0 Comments »
Posted on Thursday, September 25th, 2008 by Joanna Klonsky
As the presidential candidates and President Bush met in Washington (USA Today) to try to move along the financial bailout plan on Thursday, global banking experts gathered at the Federal Reserve Bank in Chicago to discuss the effects of U.S. market turmoil on European and emerging markets.
Until recently, countries outside of the United States and Europe were “relatively unscathed” by the sub-prime mortgage crisis, said Laura Kodres, an official in the Monetary and Capital Markets Department at the International Monetary Fund. In recent weeks, that has changed.
Since U.S. financial turbulence began over a year ago, Kodres said, emerging market currencies continued to appreciate. In the last week, though, those currencies have seen some “significant depreciation.” Likewise, those markets had been relatively stable until recently, but in the last few weeks, Kodres said, volatility has shot up.
Following the onset of the crisis, foreign investments continued to flow into emerging markets due to the common perception that those countries might be a “safe haven,” said Kodres. Though the economies in many of those countries continue to enjoy relatively strong growth rates, they are beginning to slow. As a result of financial turmoil, these markets have seen a “substantial pullback” from investors cautious about any “risky assets,” Kodres said.
Kodres said emerging markets have proven better equipped to withstand economic shock than in the past. She called for better crisis planning and improved management of financial leverage and risk-taking. That job “is not just for policy makers and government authorities, but also for private sector,” she said.
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Posted on Thursday, September 25th, 2008 by campaign2008
Sen. John McCain (R-AZ) and Sen. Barack Obama (D-IL) released a joint statement on Wednesday calling for bipartisan cooperation to solve the economic crisis. McCain announced on Wednesday he would suspend his campaign and return to Washington to help broker a deal on a financial bailout. Together, the candidates will meet with President Bush (CNN) and leaders of the House and Senate Thursday to work on the bailout plan.
DIPLOMACY: In a speech on national security on Wednesday, Obama’s runningmate, Sen. Joe Biden (D-DE), called for increased diplomacy. “The worst nightmare for a regime that thrives on isolation and tension is an America ready, willing and able to engage. Since when has talking removed the word ‘no’ from our vocabulary?” Biden asked.
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Posted on Wednesday, September 24th, 2008 by campaign2008
“There’s a short list of the forces shaping the 21st Century. No one country can control these forces, but more than any other country, we have an ability to affect them – if we use the totality of our strength. That means maintaining the finest fighting force in the world – not pushing it to the breaking point… rebuilding our alliances, partnerships and international institutions – not disparaging them… strengthening our diplomacy — not disdaining it… and using our economic might, not putting it in jeopardy.”
–Democratic vice presidential nominee Sen. Joe Biden (D-DE), in a speech on national security Wednesday in Cincinnati.
Posted in General Election, Quote of the Day | 0 Comments »
Posted on Wednesday, September 24th, 2008 by campaign2008
Sen. Barack Obama (D-IL) condemned what he called Iranian President Mahmoud Ahmadinejad’s “hateful and anti-Semitic views” at the United Nations on Tuesday. He called for strong sanctions to “increase pressure on the Iranian regime.”
Sen. John McCain’s (R-AZ) running mate, Gov. Sarah Palin (R-AK), met with Afghan President Hamid Karzai and former Secretary of State Henry Kissinger on Tuesday as the UN General Assembly debate got underway in New York. She also met Colombian President Alvaro Uribe, reportedly to discuss a proposed U.S.-Colombia Free Trade Agreement. Palin and Kissinger talked about China, Iran, and Russia (BosGlobe).
Palin, who prior to this week said she had not met with a head of state of another country, is scheduled to meet (FOX) with Georgian President Mikheil Saakashvili, Indian Prime Minister Manmohan Singh, Iraqi President Jalal Talabani, Pakistani President Ali Asif Zadari and Ukrainian President Viktor Yushchenko on Wednesday.
Posted in General Election, Iran, Morning Update | 0 Comments »
Posted on Tuesday, September 23rd, 2008 by campaign2008
Sen. Barack Obama (D-IL) said the U.S. focus on Iraq has meant diminished attention to Latin America (WashPost). He spoke with Miami’s Radio Caracol on Monday. “We spend the same amount in Latin America in an entire year that we spend in Iraq in one week. That has created, I think, a void which people like [Venezuelan President Hugo] Chavez have been able to fill,” Obama said.
IRELAND: Sen. John McCain (R-AZ) addressed U.S.-Irish relations at the Irish-American Presidential Forum in Scranton, Pennsylvania on Monday. McCain said he would increase trade between the United States and Ireland, and said he is committed to “furthering the bonds of cooperation that have been forged in Northern Ireland’s peace process”
Posted in General Election, Latin America, Morning Update, Trade | 0 Comments »
Posted on Monday, September 22nd, 2008 by Joanna Klonsky
A new public opinion study (PDF) from the Chicago Council on Global Affairs polls Americans on their views of foreign policy issues. The poll, which surveyed more than 1,500 respondents during July, shows “the American public is concerned about the country’s standing in the world and favors major changes in U.S. foreign policy,” according to the Chicago Council.
Among the study’s findings:
- A majority of Americans say the United States should “be ready” to meet with leaders of Cuba, Iran, Myanmar, North Korea and Zimbabwe, as well as Hamas and Hezbollah.
- 43 percent say the United States should withdraw most of its combat troops from Iraq within two years, while 24 percent say the U.S. should withdraw immediately.
- 61 percent say there is likely to be increased violence and greater instability in Iraq when the United States does withdraw most of its combat troops.
- 68 percent said the United States should take military action to pursue high-ranking terrorists in Pakistan, with or without of the Pakistani government’s permission.
- 88 percent of Americans said the United States should sign a treaty banning nuclear weapons testing worldwide.
Posted in Iraq, Pakistan | 0 Comments »
