Economics of McCain vs that of Obama الفروقات ف المنهج الاقتصادي للمرشحين أوباما-ماكاين

What are the economic courses of both? no better way to know than examining their advisers:

Obama :

• Austan Goolsbee, a univ of Chicago economist; a conventional free-trader. mainstream in general, not associated with the supply side movement.
• Robert Rubin; former Treasury Secretary, his influence permeates the Obama team- which means there will be a serious check on the activities of “tax and spend” Democrats.
• Jason Furman, protege of former and was an economist at the Council of Economic Advisers under Clinton.
• Karen Kornbluh, another Robin protege.
• Michael Froman worked with Rubin at Citigroup.
• David Culter, a Harvard economist with interest in Health economics.
• Alan Blinder, a former vice chairman of the Fed, who has written repeatedly on danger of succumbing to protectionism.

On McCain’s side - you may note the lack of academia presence compared to Obama’s side.

• former rep. Jack Kemp ; author of the Kemp-Roth tax bill.
• Pete Peterson, a former Commerce Secretary
• Phil Gramm, a former Senator with a PhD in economics.
• Warren Rudman, former Senator.
• Douglas Holtz-Eakin, an academic.

Its notable the limited affiliation of academia people with the republican side. This recalls to my memory a topic I read in The Orange and Blue – a student conservative magazine at the UIUC – the main theme was about academics who were affiliated with conservatism and the republican line across the life of the university. Even those young American students noted the scarcity of academic affiliation with their line in the midst of this intense liberal environment. It seemed to me as if they where placating their fellow students who might question the reasons behind the lack of approval from those heavy weight thinker of conservatism.

Now, to the core of this post, there is unlikely to be any radical move to curb the ballooning budget deficit -the major fiscal policy concern of the last five years – by either candidate. Obama has the health care plan and extension of welfare benefits. McCain has the ambitious corporate tax cuts besides making it permanant the tax cuts of George W Bush. Both would do more damage to the fiscal position of the US.

They seem to go along on these aspects( perhaps due to the fact that candidates need to further their appeal to the wide spectrum of constituents):

both promise new regulations on future tradings (oil price increase). both also propose a bigger role for government in stemming home foreclosures.

But both candidates are deeply divided on tax issues. The tax system will be more progressive in the hands of Obama transferring wealth from upper to lower. McCain plan is quite the opposite, in addition to extending tax cuts Bush offered to the wealthy, he will do the same to corporate taxation.

The other main difference has been on trade issues. Obama wishes to renegotiate NAFTA. McCain remained unapologetic of trade deals.