What can you really do now though (economically)? Rolling back the Iraq War is one. Stopping unnecessary government spending i.e subsidies for lobbyists is second.
The only thing different I see is Obama talking about reverting globalisation as well as eventually stopping the war outright.
If you start trimming the Iraqi War effort, that is hundreds of billions alone. Permanent bases aside, hundreds of billions are spent there annually. I heard it was about $12 billion a month but it could very well be more (Nobody ever wants to give the straight up numbers and that is for a reason).
I think that McCain will begin the withdrawal. The US has no financial flexibility anymore. Iraq is now getting to be old hat. Iran and Russia are the new big things. What is worse for the hawks is that the US is cash strapped. If the US didn't have that Iraq monkey on our back, we'd be rolling around in Tehran right now.
I also believe McCain will increase taxes. With Fannie Mae and Freddy Mac, that is trillions of dollars. They can't just make more bonds or try to rack up more debt because that will push them well past the 100% GDP limit or very close to that, which will make investors extremely nervous, namely foreign investors who are already starting to move to the Euro anyway. McCain knows this, even though he is an economic buffoon. He no longer has the flexibility Bush had in just piling up debts. He's going to have to get the money somewhere and the answer is with the taxpayers. That or risk hyperinflation.
I think that in the name of reducing costs, McCain will start slashing any Democratic initiatives, unfortunately. Education will get cut, scientific research will get cut, the EPA will be reduced to an OSHA like organization (little enforcement). I could see the government selling environmental credits and selling them off and allowing businesses to trade. I know they do that already but it isn't to the fullest extent and they can skim a little off the top, bringing in billions.
There is no guarantee that Obama wouldn't do this either though. The US is in bad financial situations and will have to take some cuts on programs no matter where. It is that Obama would probably be more likely to keep the education and research grants and more likely to take more money away from defense. As for socialized medicine? Not a chance.
Administration wise, I think McCain and Obama will operate in similar fashions. Of course, another issue is possible SCOTUS and middle level cabinet positions. McCain might be more likely to put in more religious fundamentalists in these positions than Obama. Then again, Obama may put them in as an olive branch to the fundies.
Either way, I'm not too optimistic. I hope I'm wrong about all this though.
