If Senator Obama truly won the economics portion of the 9/26 debate, winning must not depend on truth of content. Obama’s portion of the economic debate rested on blaming Republicans for the current crisis, offering universal health care, and the oldest game in Washington-- the class warfare card.

      While Obama is right it is important to understand how we got into this current economic mess, his analysis is wrong that blames Republican-based failed economics including lack of regulations. If the subprime mortgage crisis is the main precipitant for the other dominoes falling, it was caused by Clinton Era affirmative action regulations forced on Fannie Mae, Freddie Mac and others. A majority-Democrat Congress mandated granting mortgages to the poor and minorities, to people that couldn’t afford the down-payments or other usual measures of credit-worthiness, and mortgage companies were threatened with lawsuits of racism if they didn’t comply. Economists foretold these loans would fail when the housing market slowed because irresponsible borrowers wouldn’t be able to get out of their loans by selling their houses. Now, at enormous cost to taxpayers, we bail out the irresponsible wealthy bankers and welfare recipients in one fell swoop.

      Obama promises universal health care to all Americans. Sounds great, but understand his billions of dollars program will be funded by your taxes. Based on Canada, England and other countries rethinking their failed government-controlled health systems due to rising costs and lack of access to care, our imperfect quality of care and accessibility measures superior to theirs. Hillary Clinton’s efforts failed to develop a universal health program in the 1990s; she thinks Obama is naïve in his boast of what he can do. I don’t believe he’s naïve; he’s a demagogue, pandering to our desire to be taken care of and our ignorance of the price we will pay for it.

      It is appealing to most of us when Obama says he’s only going to raise taxes on small businesses and those families making over $250,000. This class warfare tactic feeds jealousy we have for others who have more than we do. He knows exactly what he is doing in pitting one group against another: he’s getting votes. This age old tactic is as misleading as it is divisive. Many small business owners struggle. Having their taxes raised from 35% to Obama’s 50.3%, many will fold, and they are major sources of jobs, supporting many families. Obama lies about Republican tax cuts bringing less taxes to the wealthy. The top 10% of household incomes, $100,000 or greater, pay roughly 70% of all federal income tax, up from 50% in 1980. These individuals are often enterprising and creative and major sources of jobs and economic stimuli. While Obama wants to tax them more, he wants to increase to 40% those who don’t pay any taxes. Working class people paying their share will be supporting those 40% who pay no taxes.

      I hope and pray voters will have discernment regarding our present economic crisis and Obama’s audacious deceit.

Annie Bukacek MD