Is Chili Mac next on the list of bailouts?

By S.J. Masty

Tomorrow, After Lunch - The epic nationalization of mortgage giants Fannie Mae and Freddie Mac is expected to cost taxpayers "between $50 billion and $500 billion" or more, say economists abandoning pocket calculators for a dartboard.

Next, Lehman Brothers sold the cow for a handful of magic beans and were allowed to collapse. But it is an election year, government's heels are rounder than usual, so it may not be the end of the bailouts.

Both presidential candidates have responded dynamically by adopting a concerned, mature, "I've got gas" expression as though they are auditioning for Alka Seltzer ads, then saying that somebody needs to do, um, something.

Republican John McCain - standing for smaller government, paying debts and rugged individualism - won't admit that the supposed remedy for Fannie Mae and Freddie Mac is pure socialism, as found in those goofy little Third World countries whose legislatures vote to repeal the law of gravity, and earn most of their Gross National Product by selling postage stamps to collectors.

For Democrat Barack Obama, who has never seen a problem that cannot be solved by borrowing your Visa card, blowing a few hundred billion is probably, well, necessary. Change we need - because all the folding money is going to Washington.

Meanwhile, none of the candidates has dared to speak out on another crisis: Chili Mac.

For more on this commentary, go to The D.C. Examiner

Gov. Sarah Palin's address to 2008 AIP convention

Click the following link to find out more about the Alaskan Independence Party

McCain, Obama Equally Ignorant on Solving Gas Price Crisis

by Radley Balko

In an interview last week on National Public Radio, Barack Obama was asked about his proposal for a "windfall profits" profits tax on oil companies. To her credit, the interviewer prefaced her question by noting that nearly all economists from across the political spectrum oppose the idea. Taxing oil company profits won't make gas any cheaper — it'll likely make it more expensive in the long run by discouraging exploration — and it won't speed the development of alternative energy sources. Obama's answer was pure demagoguery, pitting senior citizens and working class families against oil companies, who he says are reaping profits "hand over fist."

Obama's opponent John McCain has smartly opposed a tax on oil company profits — and Obama has promptly attacked him for it.

But McCain isn't much better. McCain has proposed an equally ridiculous "gas tax holiday," which will also do almost nothing to provide relief at the pump. Obama has smartly opposed the idea — and McCain has promptly attacked him for it.

Economic ignorance is nothing new in politics. Neither is the idea that a candidate would perpetuate economic idiocy he knows to be false because it plays into the narrative he's pitching to the voters. But no issue seems to prompt more jaw-dropping sophistry and anti-capitalist demagoguery than gas prices.

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