In at least four posts (here, here, here and here), I have pointed out that while John McCain has proposed reforms that, if enacted, might have prevented the financial crisis of the past few months, Barack Obama has done nothing. Â
Well, this week, while misrepresenting McCain’s record on reform, Obama did let us know exactly what he has done:
When I was warning about the danger ahead on Wall Street months ago because of the lack of oversight, Senator McCain was telling the Wall Street Journal â€” and I quote â€” â€˜I’m always for less regulation.’
The Democrat even claims “he was ‘ahead of the curve’ in calling for more regulation of the financial industry.”
That’s right. Obama claims he was warning us about the danger. And calling for more regulation. But, while he was warning, he was serving in the United States Senate where members get to propose legislation to address problems facing the nation. People like that can do more than warn and call for. They can act.
We have at least two examples of significant legislation that John McCain pushed for while serving in the very same Senate where Obama now serves. Indeed, he sponsored the first bill (in 2002) together with the then-House Democratic leader. In short, John McCain has a record. Barack Obama has rhetoric.
With actual legislative proposals to promote, that’s all “warning” and “calling for” is. Rhetoric. Words. Once again, with Barack Obama, the substance is missing. Sounds like a “chronic avoidance of tough decisions” to me.