McCain pushes Gas Tax holiday again, Obama team slams him

On the same day Barack Obama suggested that John McCain talked about Iraq at the expense of domestic issues, the Republican reiterated his support for a summer suspension of the federal gas tax while blasting “elites” and his likely Democratic rival for opposing the measure.

Right at the top of his remarks before taking questions from the Nashville crowd — where regular unleaded goes for about $3.85 — McCain said he wanted to discuss “what’s on everybody’s mind, the price of oil.”

McCain said he was struck by the loud opposition by “the elites in this country.”

“The hysterical reaction was a little bit funny,” he said.

In Washington, McCain noted, “the wealthiest people live in Georgetown” and can walk downtown to work. By contrast, he said, the lowest-income workers live the furthest away.

McCain explained that Barack Obama had called the plan “a gimmick”

“Well, I’d like to have some more quote gimmicks to give-low income Americans some relief,” he jabbed back.

UPDATE: Obama spokesman Hari Sevugan hits back:

“John McCain has said the he doesn’t understand the economy, and by trying to score political points with an idea that nearly all economists agree may in fact increase demand and gas prices, he’s proven himself right. Offering our struggling families more of the same Washington gimmicks instead of real relief is not ‘straight talk’ and not the kind of change that America needs.”

Wow McCain makes it too easy for Obama, I mean to go back onto the issue that proves you have a poor grasp of economics is laughable

Soldiers Discuss “Drop Weapons

Basically weapons carried in order to plant on Iraqis killed by US forces.

Obama hits McCain

Since Obama is in Michigan he’s tailoring his speech to the area, since the economy is the big issue in the state, and points out how McCain is avoiding the topic, sticking with foreign policy and Iraq:

And now it seems like all Senator McCain is talking about on the campaign trail is Iraq – instead of offering real solutions to the problems you face every day.

In fact, Senator McCain conceded not long ago that he didn’t know much about the economy. That’s not his interest. That’s not his priority. But it will be mine.

McCain camp responds:

“In Michigan, a state he’s largely ignored, Barack Obama appears desperate to divert attention from his weak judgment on foreign policy. Barack Obama failed to support the ‘Surge’ strategy that drastically reduced violence in Iraq, he’s failed to meet with General Petraeus, and failed to see the conditions first-hand in Iraq for 875 days. With a miserable absence of dealing with the on-going issues in Iraq, Barack Obama’s shift in focus amounts to little more than damage control.”

The McCain camp response is weak for a few reasons, first, as was recently pointed out, Americans agree with Obama’s policy, both on Iraq and on meeting with our enemies.  In addition it proves Obama’s point that McCain wants to stay away from economic issues, for obvious reasons.

Investor optimism plunges

According to a Gallup poll

Commentary

Gallup’s Index of Investor Optimism suggests that the average American investor is a lot less optimistic than the professionals on Wall Street about the current investment outlook. In particular, average investors remain pessimistic about the prospects for the U.S. economy — not as pessimistic as they were when the Bear Stearns financial crisis was developing, but still at their pre-2008 pessimistic high.

Nothing indicates the divide between Wall Street and the average U.S. investor more than the way many of those on the Street are cheering the recent uptick in interest rates and the speculation that the Fed could actually increase interest rates later this year. Right now, the American consumer faces major challenges ranging from surging food and energy prices to plunging housing prices and a lack of job growth. The last thing Main Street needs is higher interest rates.

It is true that the global financial markets are highly emotional and it is argued that they tend to look past short-term economic events and focus on the 6 to 12 months ahead. Many on Wall Street seem to feel the U.S. economy will perform much better in the second half of 2008 and into early 2009. Gallup’s Index of Investor Optimism suggests that the average U.S. investor is not nearly so confident that such will be the case.

American’s favor meeting with enemies

Seems the Public agrees with Obama’s stance on diplomacy according to a new Gallup poll

Interesting is how even among Republicans this idea has strong support

Gallup says this:

Bottom Line

McCain may eventually persuade more Americans that there is nothing for the president of the United States to discuss with hostile foreign leaders like Iranian President Mahmoud Ahmadinejad, and that to do so only undermines U.S. efforts to destabilize such regimes.

However, for now, whether it’s the leader of an “enemy” country, generally, or the president of Iran, specifically, Americans think it’s a good idea for the president of the United States to meet directly with the nation’s adversaries.