Financial Crisis Seriously Harms McCain

The New York Times confirms what you’ve predicted for weeks:

With the first presidential debate completed and both candidates grappling with the turmoil on Wall Street and in Washington, Senator Barack Obama is showing signs of gaining significant support among voters with less than five weeks left until Election Day, while Senator John McCain’s image has been damaged by his response to the financial crisis.

The CBS News poll showed that Mr. Obama had a nine-percentage-point lead over Mr. McCain – 49 percent to 40 percent. It is the first time Mr. Obama has held a statistically significant lead over Mr. McCain this year in polls conducted by CBS or joint polls by CBS and The Times. And a series of polls taken in highly contested states released by other organizations on Tuesday suggested that Mr. Obama was building leads in states including Florida, Pennsylvania and Virginia.

The CBS News poll found that President Bush had tied the presidential record for a low approval rating – 22 percent, matching Harry S. Truman’s Gallup approval rating in 1952, when the country was mired in the Korean War and struggling with a stagnant economy. That finding put a new premium on Mr. McCain’s effort to distance himself from Mr. Bush, and suggests that Mr. Bush will continue to be a prominent figure in the Obama campaign’s advertisements attacking Mr. McCain.

The contest between Mr. McCain and Mr. Obama is far from over. It is being fought against the continued uncertainty over the turmoil on Wall Street and in the bailout negotiations in Washington. There are three potential turning points ahead – a vice-presidential debate on Thursday night and two more debates between Mr. McCain and Mr. Obama – and this election has regularly been shaken up by outside events that have tested both candidates and altered voters’ views…

19 Community Comments, Facebook Comments

  1. cdsmith says:

    with news that McCain is pulling out of Michigan to focus on defending Bush states that are in jeopardy, Colorado becomes even more important.

  2. redstateblues says:

    Two more presidential debates and the VP debate tonight could definitely sway voters who are leaning one way or another.

    And to everyone who thinks that Palin will crash and burn tonight, I seem to remember people saying the same thing right before her RNC speech. And that turned out to be one of the single most important moments in Republican party history is you ask me.

    • Fidel's dirt nap says:

      and not just read from a teleprompter.  Even moreso than she had to think on her feet during the Gibson or Couric interviews.  

      That’s an awful lot of pressure for someone who just walked onto the national stage a few weeks ago.

      • redstateblues says:

        But there is no better time to paint herself as a Washington outsider than debating a Washington insider.

        I’m not saying she’s going to win, but all she has to do is not crash and burn and people will say she won. Similar to Obama in the first presidential debate.

        • Fidel's dirt nap says:

          Anything could happen tonight, and I am betting there will be more fireworks than any of the Presidential debates.

          Break out the popcorn…

        • Ray Springfield says:

          I have to agree that the pundits will give her the ez over….

          All she has to do is show up  

        • themonk77 says:

          Here is where I get horribly confused on the expectation game.

          If we expect someone to be “Presidential” than isn’t there some sort of expectation already?  If we set the expectation for the candidate/vp candidate, than how is it that this is a win?  I mean, I look at Palin performances thus far, she has not wowed me.  If she were to not fall over, drool, or somehow mangle an answer to a simple question like “How are you doing today?” than I consider that I am going to have a boring night of TV.  She is still not qualified, nor is she somehow beating my expectation of a candidate that is a cheeseburger away from President.  She has beaten my expectation that something amusing or stupid will happen tonight.

          So how is beating my amusement expectation a win?  If nothing else, I’ll watch her less because I won’t even have the joy of watching the flubs.  Is it that I have 2 different sets of expectations?  Do most people set the expectation of the candidate only against him/herself?

        • ajb says:

          Democrats are trying to raise expectations.

          Republicans are trying to lower them.

          If she can stick to her non-sequiters and vague platitudes (a noun, a verb, and “maverick”), she will be deemed as having made no mistakes. Then many will call her the winner.

          What really got her into trouble with the Gibson and Couric interviews was when they asked for specifics. If that somehow happens, and she flubs it as badly as those interviews, then she loses.

          And she takes McCain down with her. Game over.

          • Gilpin Guy says:

            The devil is in the details.  I’d bet that Palin is prepared to regurgitate specifics this time.  The trick will be whether she can link specifics to concepts in a clear and Republican way that makes sense.  Of course Republicans with their deregulation and government runs on tax cuts philosophy haven’t made any sense for quite a while but who knows.  This might be her chance to resurrect Reaganomics and breath life into that dead corpse again.

            The pressure on her must be terrific.  This should draw more viewers than the presidential debates.  Huge spotlight on her.  She is walking a tight rope over the Grand Canyon.  PRESSURE WITH A CAPITAL P.

  3. Half Glass Full says:

    Let’s see – both McCain and Obama voted for the bailout, both seem not THAT far apart on the economy … but McCain has been flailing about in a panic and has appeared surly and petulant on air while Obama has seemed cool, presidential and gracious to McCain.

    Gosh, I wonder why Obama’s pulling away.

    If Biden can also project presidential calm while Palin talks about “fixin’ the economy” while not seeming to know that much about what she’s talking about, the Dem ticket will be in great shape.

    This focus on the economy desperately hurt the GOP because McCain has frankly admitted he doesn’t know much about economics, and Palin obviously doesn’t. Some people might like Palin’s take on emotional issues like abortion and other social “wedge issues,” but when their own pocketbooks are at stake they want someone halfway competent to be at the helm.

    “It’s the economy, stupid.”

  4. sxp151 says:

    Who knew? Turns out it’s just in a different way than we were thinking.

    From Politico:

    The Republican Party may be deeply fractured over the bailout, but supporters and opponents of the measure agree on one thing: an obscure Carter administration policymaker named Bill Isaac helped kill the bill on Monday.

    Now, with a second shot at the rescue package in the House, Republicans are battling some of their members over whether they should keep listening to Isaac, a former Federal Deposit Insurance Corp. appointee who has become the brains behind bailout opposition on the Hill.

  5. Gilpin Guy says:

    He can leave it to Obama to finish off McCain in the next two debates.  This is one of those nights where being feisty will be a negative.  Biden being a fool would hurt Obama more than Palin being intelligent will help McCain.  It would arrest the momentum swinging towards Obama.

    You can bet that Palin has been programmed to repeat all the attacks they have on Biden to make him get agitated.  My prediction is that Palin will be personally attacking Biden the same way that McCain tried to attack Obama.  If they can shift the debate to personalities then they can avoid discussing the issues.  The one thing Palin wants to stay away from are the issues.  She will recite lots of cute stories and then throw in some insult about Biden.  The narrative will be that he is a crooked insider.  If Biden takes the bait then I’m going to be really really disappointed in him.  You have to figure he prepared as hard for this debate as she did.  It will be interesting to see what his strategy is.

  6. guesswhosreadytolead says:

    FACT 1: Obama sued banks for not giving away enough subprime loans.  “Obama represented Calvin Roberson in a 1994 lawsuit against Citibank, charging the bank systematically denied mortgages to African-American applicants and others from minority neighborhoods.”


    FACT 2: Senator Mccain did everything in his power in 2005 to both warn and legislate against the current subprime loan financial crisis.

    source 1: Bill title is – S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005

    source 2 :

    FACT 3: The root of this whole mess is the Clinton administration for both giving out and making popular subprime loans to people who had a stressed ability to pay them back, and Democrats who later repeatedly blocked regulation reform.

    source 1:

    source 2:





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