McCain, Obama economic policies appear to be politics as usual

Experts say the candidates' tax plans won't narrow the income gap and don't place a high priority on the budget deficit and other long-term issues.
By Ralph Vartabedian
LA Times

November 2, 2008

As Americans head to the polls, they carry their deep fears about the economy coupled with the weight of dire warnings about the potential economic fallout of an Obama or McCain presidency.

Democrat Barack Obama is accused of having a "socialist agenda," and Republican John McCain allegedly wants to further enrich "millionaires and billionaires." To listen to the campaigns, the risks for ordinary Americans are extraordinary.

The heated rhetoric is tapping into more than politics as usual. The election is occurring at a time of serious long- and short-term problems in the U.S. economy.

Ever since the late 1960s, incomes have been growing more unequal, leaving middle-class wage earners with a smaller share of the American pie while vast fortunes have been accumulated by a tiny few at the top.

(More here.)