October Surprise?

WHERE'S THE BEEF?

What is Barack Obama waiting for? As all hell breaks loose in the financial markets, presented to the candidates is the perfect opening to make an impact, rise above the noise, tell us what they would do as president in this situation and show us how presidential they are. Of course, both candidates have economic advisors working on plans for the future, plans to prevent crisis, plans to create jobs or lower taxes or grow the middle class or lower taxes again. And so, this is the time. Tell us what you will do!

John McCain released a statement today (Political Wire was kind enough to present the presidential candidate statements from the Wall Street Journal) that outlines a five- or six-point plan (I read it, but the last couple of points kind of blended, so I wasn't sure how to count it). It addresses the financial market crisis, health care costs, and energy policy - all of which adds up to the economy in general. I don't much like his plan, but the guy's got a plan. Excellent. Information on which Americans can base their vote this November. It makes me realize that I'll never vote Republican, but it's not a crazy plan and it is a plan.

So, Barack Obama must have a plan, too? And he has released it today, as well? Not so much. What is he thinking?!!! In Obama's statement, he tell us . . . not much. First he tells us that he is not going to tell us what he would do. Then he tells us the principles on which he will base his plan, the plan that he is not revealing yet. Of course, Obama is trying to be responsible, telling us that this crisis is so serious that there is no room for partisan politics. Obama will wait until the Fed-Treasury proposal is released.

Uh, what?

Senator Obama, take the bull by the horns and use this opportunity, maybe not to address the type of regulatory reform needed or other complex financial market dynamics, but Good G_d! You can address the economy.  This is it! This is the perfect opportunity for you to roll out your broad economic plan, the two-prong plan that is straight-forward and simple, yet elegant and effective. The plan that talks about a brand-new, fresh works program centered around green jobs, how this plan will not only build America's infrastructure and fulfill its energy needs, but it will also stem global warming! The plan that has as its second prong your detailed health care reform proposal, which will lower health care costs for America as a whole, which will help the economy as a whole, as well as provide individual Americans both financial relief and actual health care! What are you waiting for???

Maybe he is waiting for October. It's a good month. Any bounce he gets in October, as opposed to September, is more likely to last through November 4. Maybe that's it. He's waiting to produce his own October Surprise. Maybe that's it.

I am (still) very worried.