Chris xx Route 66's blog: "WHO'S IN CHARGE????"

Financial crisis complicates Obama transition By TOM RAUM, Associated Press Writer Tom Raum, Associated Press Writer 2 hrs 7 mins ago WASHINGTON – As president-elect, Barack Obama faces a tricky task as he begins dealing ever more directly with the economic meltdown, grappling with the worst financial crisis in seven decades but not yet wielding the power to do much about it. He won't be a participant at President Bush's global summit next week, although the 20 leaders attending are no doubt keenly interested in his views. And he may have to eventually push back against some members of his own party in Congress over details of a new plan to stimulate the economy. Congress convenes for a lame-duck session on Nov. 17, and Obama is giving all indications that he'll play a direct role rather than keeping his distance until he is sworn in. "The president-elect has said he wants another stimulus, the president-elect therefore has views on what that stimulus should be, and the Democratic Congress should take its cues from the president-elect," said economist Rob Shapiro, a top Commerce Department official in the Clinton administration who now is on Obama's team of transition advisers. Will Obama be able to pull off a smooth changeover in economic management in such trying times? "He'll have to work very hard at it, but of course he can. This is a man who pulled off the smoothest campaign in history," said Shapiro, now associated with NDN, a think tank formerly known as the New Democratic Network The Illinois senator meets on Friday with his economic team and holds his first postelection news conference. Obama's victory emboldened Democrats and helped them expand their House and Senate majorities. "The fact is that this president goes into office with more expectations than any president I can ever remember in my lifetime," said House Speaker Nancy Pelosi. But some liberal Democrats may expect him to deliver more than they're likely to get. As Pelosi was quick to note, "The country must be governed from the middle," and that will increase pressure on Obama to make compromises. He may have to scale back some of the long-term spending programs he advocates to pay for crash legislation to keep what already looks like a recession from turning into something much worse. "The need has never been greater for the absolutely seamless transition of economic teams," said William Galston, who was a White House domestic policy assistant in President Clinton's first term. "We're in a race against time to prevent a global financial meltdown, and I think everybody knows it." Obama has called for about $175 billion in new stimulus spending, including money for roads, bridges and aid to hard-pressed states. He wants a rebate of $500 for individuals, $1,000 for families and a new $3,000 tax credit for businesses for each new job created. Many congressional Democrats have been cool to the notion of more tax rebates, on top of the $168 billion handed out earlier this year. Obama and congressional leaders will have to sort out any differences, said James Thurber, a political science professor at American University. "He has to hit the ground running or he'll be left behind on some of these key policies dealing with the economy," Thurber said. Lawmakers seem likely to settle on relatively modest measures for now — such as a $60 billion package for extended unemployment benefits, food stamps and subsidies to states — rather than risk a Bush veto. Then, with expanded Democratic majorities in both chambers, Congress can tackle a more-ambitious plan early next year. On Thursday, Obama named Rep. Rahm Emanuel, a hard-charging fellow Democratic lawmaker from Chicago, to be his White House chief of staff. Now he is under pressure to name a treasury secretary as quickly as possible. Former Treasury Secretary Lawrence Summers, who served at the end of the Clinton administration, and Timothy Geithner, president of the Federal Reserve Bank of New York, are viewed as top contenders. Geithner has played a key role in the government's response to the financial crisis and worked closely with Treasury Secretary Henry Paulson. Summers, whose tenure as president of Harvard was rocky after inflammatory remarks about women in the sciences, has been a close adviser to Obama. Other names being mentioned include another former Clinton treasury secretary, Robert Rubin, New Jersey Gov. Jon Corzine, former Fed Chairman Paul Volcker and Jaime Dimon, chief executive of JP Morgan Chase. During one of the presidential debates, Obama and GOP rival John McCain suggested billionaire investor Warren Buffett would make a fine, if unlikely, secretary. Obama has promised to keep in close contact with Paulson, who has made it clear he will leave his post in January and leave to his successor key decisions on how to spend the rest of the $700 billion financial rescue package passed last month by Congress. Paulson pledged Thursday to work closely with Obama, saying, "A methodical and orderly transition is in the best interests of the financial markets and Treasury is committed to making sure that the incoming team can hit the ground running in January." The Bush administration is already pouring $250 billion into banks in return for partial ownership. It also may use some of the money to buy bad mortgages and other toxic debt held by financial institutions. Presidents have to be careful about what they pick as their top legislative goals. Despite wide Democratic majorities, President Carter stumbled with energy proposals and President Clinton with health care overhaul. In 2004, Bush squandered political capital from his re-election victory to push a partial privatization of Social Security that he couldn't sell even to most fellow Republicans. White House press secretary Dana Perino said Thursday that the administration has been briefing Obama aides. "What we have pledged to do and we are doing is to work and consult with the Obama team on issues as we move forward, one of those being the financial summit that's coming up next week," she said. Obama declined an invitation to attend himself. Why? The Obama camp says it's one thing for the president-elect to work with his party in Congress on a stimulus package, another to participate directly in something that is the prerogative of the president. But he's expected to send a representative.

Obama asks McCain for help leading country By NEDRA PICKLER, Associated Press Writer Nedra Pickler, Associated Press Writer 26 mins ago CHICAGO – Barack Obama asked John McCain for his help in leading the country in a telephone call Tuesday night, moments after the Democratic senator was elected the country's first black president. Obama spokesman Robert Gibbs said Obama thanked McCain for his graciousness and told him he had waged a tough race. "Senator Obama told Senator McCain he was consistently someone who has showed class and honor during this campaign as he has during his entire life in public service," Gibbs said in a statement. "Senator Obama said he was eager to sit down and talk about how the two of them can work together." Gibbs quoted Obama as saying to McCain: "I need your help, you're a leader on so many important issues" President Bush called Obama shortly after the Illinois senator hung up with McCain, and then Obama watched McCain's concession speech from his suite in the Hyatt Regency hotel, where he had watched returns with his extended family and senior staff. Gibbs said the call came at 11 p.m. EST, moments after The Associated Press and television networks declared Obama winner of the presidential race. A few blocks away, a massive crowd in Grant Park erupted into cheers to see their chosen candidate break the color barrier. Audience members leapt into the air, waving American flags. Many shed tears. The crowd included celebrities Brad Pitt and Oprah Winfrey, who danced and sang along to Stevie Wonder's "Sign, Sealed, and Delivered," while waiting Obama's arrival. The size of the multiracial group, spread out toward the Chicago skyline a few blocks in the distance, reflected the eye-popping crowds that Obama drew throughout his campaign. Even the weather favored Obama — the temperature was around 60 degrees as he arrived at the site, unusual for a November night in Chicago. Obama began the day by casting his vote with his wife and daughters, 10-year-old Malia and 7-year-old Sasha, at his side. "The journey ends, but voting with my daughters, that was a big deal," Obama said after an epic 21-month campaign that he entered as an underdog with only two years experience in national office. He made a final Election Day campaign stop in Indiana, one of several longtime Republican strongholds in the presidential race that he tried to win in a transcendent victory. It was a symbolic ending of a campaign for a candidate who first made his name with an address to the Democratic National Convention four years ago in which he decried efforts to "slice and dice our country into red states and blue states." He unwound while waiting for returns by playing two hours of basketball with friends and staff, then eating a steak dinner at home with his immediate family and in-laws. ___

Praying for Election Day miracles Religious Americans turn to a higher power on the candidates' behalf The Associated Press updated 5:50 p.m. CT, Sat., Nov. 1, 2008 They're fasting on the steps of the Florida Capitol, hoping God will hear their pleas to put an abortion opponent in the White House. Prayer warriors will staff the get-out-the-vote command center Tuesday at Ebenezer A.M.E. Church in Fort Washington, Md. A rabbi is distributing a prayer to be said in the voting booth. Prayer circles are seeking courage and protection for Barack Obama and his family. The faithful are busy as Nov. 4 nears. While politicians are making their final pitch to voters, religious Americans from across the political spectrum are appealing to a higher power on the candidates' behalf. "We have just days to pray that someone who upholds the sanctity of life and marriage between one man and one woman will win," said Pam Olsen, co-pastor with her husband of the International House of Prayer in Tallahassee, Fla. Olsen, who personally supports Republican John McCain, is organizing a marathon of prayer, fasting and Bible reading at the Capitol starting Saturday until the state's polls close. "The outcome is up to God," she said. Rabbi David Seidenberg of Northampton, Mass., has written a prayer in Hebrew and English that can be recited just before filling out a ballot. Posted on his blog neohasid.org, and distributed through e-mail, it includes a voter pledge to heal the world and a wish for the country to "pursue righteousness and to seek peace." "There still is so much hope and feeling connected to this election and I want to say that in as nonpartisan a way as possible," Seidenberg said in an interview. "It really feels like so much hangs in the balance and so many dreams and hopes hang in the balance right now." Many of the election-related prayers seek wisdom for voters to choose the right leader. 'Please get them off the sofa' For the first time, the nation's Roman Catholic bishops have published prayers for immediately before and after the election. They focus on dignity for all, an end to poverty and for "ears that will hear the cries of children unborn." At the bishops' urging, many Catholic parishes on Oct. 27 began a novena, or nine-day prayer cycle, for the election. Other appeals get into the nitty gritty of campaigning. Seidenberg's text reads, "May it be Your will that votes will be counted faithfully." Among the prayers Olsen's group suggested in the run-up to Nov. 4 is for "the Lord to move in swing states." At presidentialprayerteam.net, where people post their appeals on a "prayer wall," Denise from Texas asked God to reach people who haven't yet committed to voting. "Let them not be phased by polls, TV ads, political sound bites," she wrote. "And for those, Dear God, who need to vote for Your will to be done ... please get them off the sofa and to the voting booth." Prayer efforts Praying for campaigns and for the health of the nation is hardly new in elections. But this year has seen a more public display of faith among supporters of the Democrat nominee. The Obama campaign's prayer conference calls went from weekly to daily four months ago, and will continue through Election Day. Supporters of the Illinois senator have started prayer circles, enlisting friends to join them online, on the phone or in person to pray for wisdom for the candidate. Many churches, including Olsen's, started prayer efforts a month or more ahead of Nov. 4. The Ethics & Religious Liberty Commission, the public policy arm of the 16 million-member Southern Baptist Convention, is wrapping up its 40-day effort with round-the-clock prayer ahead of the election. The commission says more than 4,000 churches are participating. The hourly prayers begin with repenting personal sin and include appeals for "candidates to adopt biblical positions on issues" and remember they are accountable to God. In a practical turn, participants also pray for God to "help churches find ways to help Christians get to the polls." For leaders making personal endorsements, the prayers are unapologetically partisan. Steve Strang, publisher of Charisma, a popular Pentecostal magazine, asked his many readers in an e-mail to pray, fast and "believe for a miracle to see John McCain get elected." But many pastors are warning against asking God for a specific outcome. The Rev. Adam Hamilton, senior pastor of the 12,000-member United Methodist Church of the Resurrection in Leawood, Kan., has urging his congregants simply to pray for help choosing the right leader for the country. Author of the book, "Seeing Gray in a World of Black and White: Thoughts on Religion, Morality and Politics," Hamilton said no one knows "who God's person for the hour is." And considering the state of the economy and the other daunting problems facing the U.S. and the world, Hamilton said churches would do better to focus on asking God to help whoever succeeds President Bush. "Who wants this job right now?" Hamilton said. "Whoever wins this election, we're going to have to pull together to pray for them." Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. URL: http://www.msnbc.msn.com/id/27488710/ I dispute this claim. It's not up to God, who wins this election, it's up to the American people thru free will given to us by the God of our understanding I've made it clear who, I want to win on Tuesday. Here's a thought to all the religious wingnuts, Why not pray that, who ever wins, does what God would want them to!! Hey, what a concept

The laborer is worthy of his wages. Luke 10:7 The laborer is worthy of his wages. Luke 10:7 The “company town” of Pullman, Illinois owned the lives of their workers. The lowest paid workers were given the simplest shelter, the craftsman had better housing, and the executives and potential customers were provided lavish Victorian homes. The company owned the housing, set their rent, the price of groceries, and even owned the bank. In a depressed economy in 1893 Pullman decreased the workers wages and laid off many while keeping the rent and other expenses the same. Out of desperation and in solidarity the workers demanded fair wages. The members of the United Railway Union all across the nation stood with them. Executives continued to live in luxury while the workers were facing homelessness, hunger, crime and disease but President Grover Cleveland deployed 12,000 troops to break the strike. US marshals fired on protesters and two were killed. The union leader was imprisoned and the workers were forced to sign a contract promising they would never strike again. Many other industrial unions were disbanded and destroyed until the great depression when workers again tried to organize. Grover Cleveland sought the growing labor vote in 1894 and created Labor Day. Several years later Samuel Gompers, the head of the American Federation of Labor said it is a day in which “toilers look forward“, when their “rights and their wrongs will be discussed“, when they can “lay down their tools for a day“, and “touch shoulders as they march” with their co-laborers. Today, for the lowest paid workers, Labor Day only means more people to serve in the restaurants, at the check out counters, hotels, resorts and places of amusement. With the advancement of the “free market” the workers have often been judged to be selfish, lazy, wasteful, greedy and unwise. Even many Christians today praise company executives for being “good managers” as they get more work out of fewer people, hire desperate people willing to work for lower wages and who are willing to live in crowded and/or substandard housing. Latest figures show that many executives make as much as 500 times that of their workers. As in the days of the Pullman executives, those with the most money have the most influence over government and media. This unfair advantage results in the repealing of hard won labor laws, designed to protect workers, and restricts workers rights to organize. The contracts awarded to areas hard hit by Katrina last year offer an excellent example of power and worker abuse. The AshBritt company gained a $500 million contract to remove debris. This amounted to $23 a cubic yard. AshBritt sub-contracted the job to a company who bid it for $9 per cubic yard and they hired a company who charged $8. This company sub-contracted to a company who charged $7 who then hired a company who charged $3. Desperate workers did the hard work for almost nothing. When these workers are not paid for their work they have no recourse because they have no resources. In many cases they can be deported or imprisoned. The Bible has a lot to say about work and the paying of wages. Jesus always stood with those who had no power and took to task those who did. In the United States, where the citizens elect people to make decisions in Washington, we each have a responsibility to stand with and vote for the interests of workers who are oppressed and taken advantage of. A laborer is still worthy of his wages.

Dems sketch Obama staff, Cabinet By: Mike Allen October 31, 2008 07:29 PM EST Republican insiders close to John McCain are spending much more time in the campaign’s final days trying to pull off an upset victory on Tuesday than focusing on who might be in a McCain Cabinet. But sources close to Barack Obama have quite specific ideas about his most likely choices for a wide array of top jobs. The list is heavy on campaign heavyweights and Washington insiders, many of them from the administration of President Bill Clinton. So while surprises can be expected to crop up — especially on any Republican members of the Cabinet — many of the selections would likely be proven hands who would provoke little controversy. Obama has not communicated his final choice on any of these posts but plans to move very quickly if he is elected, according to the sources. They point to the political price that Clinton paid for dilly-dallying on his appointments and nomination. Obama could name his White House chief of staff within a week of his election, advisers say. Obama would also likely make a rapid announcement on an economic team in an effort to show command of the most pressing issue that would face him on moving into the Oval Office on Jan. 20. Larry Summers, who was Clinton’s last Treasury secretary before becoming president of Harvard, is considered a favorite for Treasury secretary for Obama. See Also * A peek at a potential McCain cabinet Obama transition planners have been working to line up a national security team, which would also likely be named sooner rather than later. Here is the list of names being widely discussed in Democratic circles, compiled with the help of ABC’s Jonathan Karl and Politico’s Ben Smith. Some of the names are more likely than others, but all are being seriously considered by Obama advisers. Some of the sources would be involved in decision making, and some were making educated deductions. Politico 44 - The Next President. Minute by Minute. Coming November 5th In any case, ask a well-positioned Democrat, and this is what you’ll hear. White House chief of staff: Former Sen. Tom Daschle (D-S.D.); Rep. Rahm Emanuel (D-Ill.); or dark horse candidate Bill Daley, Commerce secretary under President Bill Clinton and now an executive with JPMorgan Chase & Co. Deputy chief of staff: Pete Rouse, chief of staff in Obama Senate office; Ron Klain, former chief of staff to Vice President Al Gore; longtime Obama adviser Valerie Jarrett; Jim Messina, campaign chief of staff Senior adviser: David Plouffe, David Axelrod, Steve Hildebrand Outside adviser: Abner Mikva Ambassador at large on climate change: former Vice President Al Gore National security adviser: Jim Steinberg, the deputy under Clinton; Gregory Craig, special counsel to Clinton; Susan Rice; retired Marine Gen. Anthony Zinni; Samantha Power of Harvard’s Kennedy School White House counsel: Bob Bauer, campaign counsel; Chris Lu, Obama legislative director and member of transition staff; Heather Higginbottom, campaign senior policy strategist and longtime aide to Sen. John F. Kerry; Mike Strautmanis, congressional affairs for campaign and former chief counsel in Senate office Chief of staff to the vice president: Tony Blinken, chief of staff, Senate Foreign Relations Committee (Biden is chairman) and senior campaign adviser for Biden; Stephanie Cutter; former Biden aides Mark Gittenstein, Alan Hoffman and Ted Kaufman. Chief of staff to first lady Michelle Obama: Alyssa Mastromonaco, campaign director of scheduling and advance; Melissa Winter; Linda Douglass, senior spokeswoman for campaign Counselor: Robert Gibbs; Anita Dunn; Valerie Jarrett; Jon Favreau Communications director: Robert Gibbs; Dan Pfeiffer, who has that post in the campaign Deputy Communications Director: Josh Earnest Press secretary: Robert Gibbs, Linda Douglass, Bill Burton, Stephanie Cutter Director of media affairs (regional and specialty media): Blake Zeff Speechwriting director: Jon Favreau; Jeff Nussbaum Deputy press secretary: Karen Dunn, currently Axelrod’s deputy Press staff morale chief: Tommy Vietor Assistant press secretary: Isaac Baker, Reid Cherlin, Ben LaBolt, Moira Mack, Hari Sevugan, Nick Shapiro Press secretary to the first lady: Katie McCormick Lelyveld White House economic adviser: Austan Goolsbee, senior policy adviser to campaign and University of Chicago economics professor; Jason Furman, director of economic policy for the campaign; Michael Froman, former Treasury chief of staff, Citigroup executive and Harvard Law classmate with Obama Domestic policy adviser: Heather Higginbottom, Jason Furman, Neera Tanden Director of scheduling: Marvin Nicholson Personal aide: Reggie Love Cabinet secretary: Christine Varney, who held that post under Clinton White House staff secretary: Cassandra Butts Director of legislative affairs: Chris Lu; Mike Strautmanis Political director: Erik Smith Defense secretary : Sen. Chuck Hagel (R-Neb.); Richard Danzig, Navy secretary under Clinton; John Hamre, president and CEO of CSIS and former deputy secretary of Defense; President Bush’s incumbent, Robert Gates — would be for at least a year so he wasn’t a lame duck. Attorney general: Virginia Gov. Tim Kaine; Eric Holder, who was deputy AG under Clinton and is now with Covington & Burling and led Obama’s vice presidential search; Massachusetts Gov. Deval Patrick; Arizona Gov. Janet Napolitano. Supreme Court nominee: Washington superlawyer Robert Barnett; legal scholar Cass Sunstein; Massachusetts Gov. Deval Patrick; 2nd U.S. Circuit Court of Appeals Judge Sonia Sotomayor of New York; Elena Kagan, dean of Harvard Law School. Consensus is it would most likely be a woman. Secretary of State: New Mexico Gov. Bill Richardson; Sen. John F. Kerry (D-Mass.); Sen. Richard Lugar (R-Ind.) Deputy secretary of state: Gregory Craig Director of State Department policy planning (internal think tank): Samantha Power U.S. ambassador to the United Nations: Susan Rice, senior campaign national security adviser and State Department and National Security Council official under Clinton; Caroline Kennedy Treasury secretary: former Clinton treasury secretaries Larry Summers and Robert Rubin; FDIC Chairman Sheila C. Blair; New York Fed President Timothy Geithner, former Treasury under secretary and Assistant Secretary; former Federal Reserve hairman Paul Volcker. Deputy Treasury secretary: Jake Siewert. Secretary of Health and Human Services: Tom Daschle; Democratic National Committee Chairman Howard Dean, a physician; John Kitzhaber, medical doctor and former Oregon governor. Health care czar in White House: Tom Daschle. Education secretary: David Boren, president of the University of Oklahoma and former U.S. senator and former Sooner State governor; Former New Jersey Gov. Tom Kean (R), who was chairman of the 9/11 commission; Rep. George Miller (D-Calif.) Environmental Protection Agency administrator: Former Sen. Lincoln Chafee (R-R.I.); Kathleen McGinty, former head of the Pennsylvania Environmental Protection Agency Commerce secretary: Penny Pritzker; Kansas Gov. Kathleen Sebelius; Sen. Olympia Snowe (R-Maine). Homeland Security secretary: Former Sen. Gary Hart (D-Col.); William Bratton, Los Angeles police chief and former New York police commissioner; former Rep. Tim Roemer (D-Ind.), a member of the 9/11 Commission; Rep. Jane Harman (D-Calif.); Sen. Susan Collins (R-Maine) CIA director: Former Rep. Tim Roemer (D-Ind.); Rep. Jane Harman (D-Calif.) Director of National Intelligence: Rep. Jane Harman (D-Calif.) Secretary of Housing and Urban Development: Longtime Obama adviser Valerie Jarrett; Rep. Jesse Jackson Jr. (D-Ill.) Secretary of Veterans Affairs: Former Sen. Max Cleland (D-Ga.); Tammy Duckworth, the director of Illinois Veterans’ Affairs, Iraq veteran and former Democratic House candidate; Bush’s incumbent, James Peake Secretary of the Interior: Rep. Jay Inslee (D-Wash.); Robert F. Kennedy Jr. Secretary of Energy: California Gov. Arnold Schwarzenegger (R); Sen. Jeff Bingaman (D-N.M.) Secretary of Transportation: Rep. Earl Blumenauer (D-Ore.); Rep. Jim Oberstar (D-Minn.) Secretary of Labor: Former Rep. Richard Gephardt (D-Mo.); Andrew Stern, president of the Service Employees International Union; Kay Hagan of North Carolina (if she loses her challenge to U.S. Sen. Elizabeth Dole); Jeanne Shaheen, former New Hampshire governor (if she loses her challenge to U.S. Sen. John Sununu) Secretary of Agriculture: Former Iowa Gov. Tom Vilsack; Rep. Collin Peterson (D-Minn.) Director, Office of National Drug Control Policy: William Bratton Director, Council for Faith-Based and Neighborhood Partnerships (Obama's renamed faith-based office): Josh DuBois, campaign's director of religious affairs © 2008 Capitol News Company, LLC

Beaten down, American consumers burrow deeper Friday October 31, 2:23 am ET By Jeannine Aversa, AP Economics Writer American consumers clobbered by housing, credit and financial fallout WASHINGTON (AP) -- Beaten down and watching their wealth shrink, Americans are burrowing ever deeper -- cutting back on spending and spelling more trouble for the sinking economy. One of the biggest problems saddling the country is damage from the housing market's collapse. Mounting foreclosures, falling home prices and soured mortgage investments are taking their toll on both individuals and businesses alike. ADVERTISEMENT Federal Reserve Chairman Ben Bernanke, who is scheduled to speak via satellite Friday at a Berkeley, Calif., conference on the mortgage meltdown, is likely to call on government officials and lawmakers to keep working on ways to provide more relief. The Bush administration is considering a plan that would help around 3 million struggling homeowners avoid foreclosure by having the government guarantee billions of dollars worth of distressed mortgages. The plan also could include loan modifications that would lower interest rates for a five-year period. Fallout from the housing meltdown has spurred the worst global credit and financial crisis in more than a half century. To combat the problems, the government has taken a flurry of bold steps. The Treasury Department is pouring $250 billion into banks in return for partial ownership and the Fed this week started buying mounds of debt from companies. It also slashed interest rates to 1 percent, a level seen only once before in the last half century. A new batch of economic reports out Friday is likely to offer fresh confirmation of the stresses weighing on American consumers. Income growth is expected to barely budge in September, inching up just 0.1 percent, according to economists' estimates. Consumers probably trimmed their spending during the month by 0.3 percent, economists predict. And, given the weak jobs market, employers aren't expected to be overly generous with compensation to their employees. Workers' wages and benefit costs are expected to rise 0.7 percent during the third quarter, economists are forecasting. If that happens, it would mark the same size increase from the previous quarter. All in all, the economy as a whole contracted at a 0.3 percent pace in the July-to-September quarter, reflecting a sharp pull-back by consumers. They ratcheted back spending by the largest amount in nearly three decades, the government reported Thursday. Consumers' disposable income took its biggest drop on records dating back to 1947. Retailers are bracing for a grim holiday buying season. Economists say tougher times are still ahead. Believing consumers are cutting back even more right now, they predict a much larger economic decline -- anywhere from a 1 to 2 percent rate -- during the current October-December period. That would meet a classic definition of a recession -- two straight quarters of shrinking GDP. The grim news comes just days before the nation picks the next president. Either Democrat Barack Obama or Republican John McCain will inherit a deeply troubled economy and a record-high budget deficit that could cramp spending plans. "I think it's very, very important not to hold out the prospect of silver bullets that will correct these crises," Lawrence Summers, a Treasury secretary in the Clinton administration, said in Boston on Thursday. "One of the difficulties has been there's been a succession of silver bullets that turned out to be hollow," he said. "So I think one just has to be really careful and sober about recognizing there are very serious risks in the situation ... and that the process of improvement will take time."

The Nation's Students Pick Barack Obama in the Just Completed Weekly Reader Presidential Election Poll Last update: 5:00 a.m. EDT Oct. 29, 2008 PLEASANTVILLE, N.Y., Oct 29, 2008 /PRNewswire via COMTEX/ -- America's most trusted and accurate student survey has predicted the winner in 12 of the past 13 elections. Just days before Americans choose our next president, voting has concluded in the Weekly Reader Student Presidential Election Poll. And the nation's students resoundingly say that Barack Obama will be the country's next leader. In the 14th Weekly Reader election survey, with more than 125,000 votes cast from kindergarten through 12th grade, the result was Obama 54.7% and John McCain 42.9% (with "other" candidates receiving 2.5% of the student vote). The Obama victory in the classroom electoral vote was even more resounding: The Democrat won 33 states and the District of Columbia, garnering 420 electoral votes, while McCain took 17 states and 118 electoral votes. For the past 52 years, the results of the Weekly Reader poll have been consistently on target, with the student vote correctly predicting the next president in 12 out of 13 elections. (The only time the kids were wrong was 1992, when they chose George H.W. Bush over Bill Clinton.) This year, as in 2000 and 2004, the student election was conducted in conjunction with noted polling organization Zogby International. Below are more thought-provoking, and perhaps prescient, results from the Weekly Reader Student Presidential Election Poll: -- While the election results may appear one-sided, they actually were extraordinarily close in many places. In three states, less than a tenth of a percentage point separated the winning ticket from the losing one. Iowa and Missouri were the states where Obama barely squeaked by, while in North Dakota, McCain won by the same slim margin. -- Most, but not all, swing states went to Obama. The Democrat took Colorado, Florida, Indiana, Missouri, Nevada, New Mexico, Ohio, Pennsylvania, and Virginia. McCain won Minnesota and New Hampshire, each by a surprisingly wide 8 points, as well as North Carolina in a 4.6% victory over Obama. -- McCain took Republican strongholds Alabama, Idaho, Kansas, Kentucky, Nebraska, Oklahoma, South Carolina, Tennessee, Utah, and Wyoming. Obama romped in the deep blue states of California, Illinois, Maryland, Massachusetts, New Jersey, New York, and Washington, and the District of Columbia. -- The Democratic candidate had a few startling triumphs -- such as sweeping the vote in the Republican slate's two home states of Alaska and Arizona, registering a big win in Georgia, receiving 82% of the student vote in Nevada, gaining a 34-point win in Mississippi, and logging a 10% victory over McCain in George W. Bush's home state of Texas. -- Obama was the victor in every grade -- except grade 10, which chose McCain. The results were the tightest in the 11th grade, where Obama slid by with a 1.5% victory, followed by second grade, where Obama won by a margin of 1.8%. The widest spread appeared in the ninth grade, where Obama's gigantic 85.6% beat McCain's 12.4% -- a whopping 73.2% margin! "Historically, our poll has been an amazing indicator of the presidential race's outcome, so we're all waiting with great anticipation to see what happens on Election Day," said Neal Goff, President of Weekly Reader. "Throughout the past few months, we've delivered cutting-edge multimedia election materials directly to schools so that students could cast an informed vote. We're excited to have given kids this important forum to express their opinions about who should be the next president." In addition to reporting the results of their in-class elections, teachers passed along enthusiastic comments from their students about the impact of participating in the Weekly Reader Student Presidential Election: -- "This is history being made!" -- "I will always remember this. It's nice to have my vote counted!" -- "Even though I am not 18, my voice is being heard." -- "I like McCain because he loves pets like I do." -- "I want to be president. I am going to be president. If Obama can run for president, so can I." (Comment from a Hispanic second-grade boy.) Teachers also contributed to the thousands of comments. One reported that, "Before we voted and as we were discussing the candidates, each 'side' spontaneously started chanting the name of the candidate they wanted to win." Another teacher proudly noted this benefit to the Weekly Reader election: "We talked about the importance of voting and the duty that we have as American citizens. What a great experience!" The student election survey is one of many ways in which Weekly Reader informs and involves the next generation of citizens. The award-winning Weekly Reader Web site features a continuously updated Election 2008 area, www.weeklyreader.com/election, which provides topical, targeted coverage of the election, specifics about the candidates and issues, fascinating election anecdotes, and instructive interactive games for students in elementary, middle, and high schools. Teachers can download exclusive lesson plans outlining the political process. Post-election coverage will continue online and in Weekly Reader's acclaimed classroom magazines through the inauguration and the new president's first 100 days in office. About Weekly Reader Publishing For more than 100 years, Weekly Reader has been a leading publisher of supplemental educational products to schools and libraries, dedicated to making learning come alive by creating engaging materials that connect what children learn to the world around them. Through its flagship product line -- Weekly Reader classroom magazines -- Weekly Reader reaches an audience of almost 8 million educators, students, and their parents annually. The Weekly Reader Publishing Group (WRPG) also includes Weekly Reader Curriculum Publishing and Custom Publishing; Weekly Reader Research; Gareth Stevens Publishing; World Almanac Education Library Services; Facts for Learning; and Funk & Wagnall's. WRPG is part of The Reader's Digest Association, Inc. For more information, visit www.weeklyreader.com. About Zogby International Zogby International is a public opinion, research, and business solutions firm with experience working in more than 70 countries around the globe. Founded and led by John Zogby since 1984, Zogby International ranks as one of the industry's leaders thanks to its reputation for superior accuracy and reliability. Zogby specializes in telephone, Internet, and face-to-face survey research and analysis for political, corporate, nonprofit, and governmental clients. The firm is headquartered in Utica, New York, with offices in Washington D.C., and Miami. Stay informed. Visit Weekly Reader Election 2008 at www.weeklyreader.com/election. SOURCE Weekly Reader Publishing

Why the economy fares much better under Democrats By Larry M. Bartels Larry M. Bartels Tue Oct 21, 4:00 am ET Princeton, N.J. – John McCain is a maverick and Barack Obama is a postpartisan problem-solver. But you wouldn't know it by looking at their economic plans. Both candidates' proposals faithfully reflect the traditional economic priorities of their respective parties. That makes the track records of past Democratic and Republican administrations a very useful benchmark for assessing how the economy might perform under a President McCain or a President Obama. The bottom line: During the past 60 years, Democrats have presided over much less unemployment and much more robust income growth. The $52.5 billion plan Senator McCain announced last week includes $36 billion in tax breaks for senior citizens withdrawing funds from retirement accounts and $10 billion for a reduction in the capital gains tax. Those are perks for investors, most of whom are relatively affluent. (McCain is also proposing a two-year suspension of taxes on unemployment benefits, but that's a fraction of the plan's cost.) He also favors broader tax cuts for businesses and wants to extend President Bush's massive tax cuts indefinitely, even for people earning more than $250,000 per year. McCain's proposals reflect the traditional Republican emphasis on cutting taxes for businesses and wealthy people in hopes of stimulating investment – "trickle down" economics, as it came to be called during Ronald Reagan's administration. But will proposals of this sort really "stop and reverse the rise of unemployment" and "create millions of new jobs" as McCain has claimed? The historical record suggests not. President Bush's multitrillion-dollar tax cuts, which were strongly tilted toward the rich, could not prevent (and may even have contributed to) significant job losses. On the other hand, when Bill Clinton raised taxes on affluent people to balance the federal budget (while significantly expanding the Earned Income Tax Credit for working poor people), unemployment declined substantially. Under Clinton's watch, 22 million jobs were created. Prefer a broader historical comparison? In the past three decades, since the Organization of the Petroleum Exporting Countries oil price shocks of the mid-1970s and the Republican turn toward "supply side" economics, the average unemployment rate under Republican presidents has been 6.7 percent – substantially higher than the 5.5 percent average under Democratic presidents. (The official unemployment rate takes no account of people who have given up looking for work or taken substantial pay cuts to stay in the labor force.) Over an even broader time period, since the late 1940s, unemployment has averaged 4.8 percent under Democratic presidents but 6.3 percent – almost one-third higher – under Republican presidents. Lower unemployment under Democratic presidents has contributed substantially to the real incomes of middle-class and working poor families. Job losses hurt everyone – not just those without work. In fact, every percentage point of unemployment has the effect of reducing middle-class income growth by about $300 per family per year. And the effects are long term, unlike the temporary boost in income from a stimulus check. Compounded over an eight-year period, a persistent one-point difference in unemployment is worth about $10,000 to a middle-class family. The dollar values are smaller for working poor families, but in relative terms their incomes are even more sensitive to unemployment. In contrast, income growth for affluent people is much more sensitive to inflation, which has been a perennial target of Republican economic policies. Although McCain portrays Senator Obama as a "job killing" tax-and-spend liberal, the new $60 billion plan Obama unveiled last week also has a tax break as its centerpiece – a tax break specifically tailored to create jobs by offering employers a $3,000 tax credit for each new hire over the next two years. Obama's proposal would also extend unemployment benefits by 13 weeks for those who remain jobless, as well as match McCain's in suspending taxes on unemployment benefits. Obama's new proposal complements $115 billion in economic stimulus measures he had already announced, including $65 billion in direct rebates to taxpayers and $50 billion to help states jump-start spending on infrastructure projects. All of this is squarely in the tradition of Democratic presidents since John F. Kennedy, who have relied on public spending and tax breaks for working people to stimulate consumption and employment during economic downturns. These and other policies have produced not only lower unemployment under Democratic presidents but also more economic output and income growth. In fact, over the past 60 years, the real incomes of middle-income families have grown about twice as fast under Democratic presidents as they have under Republican presidents. The partisan difference is even greater for working poor families, whose real incomes have grown six times as fast under Democratic presidents as they have under Republican presidents. Of course, past performance is no guarantee of what will happen when the next president takes office. However, given the striking fidelity of both presidential candidates to their parties' traditional economic priorities, the profound impact of partisan politics on the economic fortunes of American families over more than half a century ought to weigh heavily in the minds of voters. • Larry M. Bartels directs the Center for the Study of Democratic Politics in Princeton University's Woodrow Wilson School of Public and International Affairs. He is the author of "Unequal Democracy: The Political Economy of the New Gilded Age."

Colin Powell brought up an interesting point the other day What if, Obama was a Muslim?? Even McCain had to calm an old woman down at one of his rally's the other day by reassuring her that, Obama was a Christian. Some of us have this notion this is a Christian nation. Our founding fathers wanted us to have freedom of religion. That being said, would you rather have a president that was a real good one that, brought us to good economic times if, he was some other religion other then Christian or perhaps, a non believer? Or, would you rather have a Christian president that, was a terrible president who's policies were terrible and left us in a mountain of debt much like the president leaving office?? Something to think about!!!!