Obama and Biden appeared on MTV today in a very refreshing interview with Sway about Thursday's debate and what the Obama policies mean to the younger generation. Obama addressed his treatment of American voters, the problems facing Iraq and Afghanistan veterans, and the effect of the economic bailout on our generation. It's not often that you see a politician target an audience with such success.
Obama reigns when it comes to character. He obviously went the diplomatic route when Sway steered the questioning towards who won the debate, explaining the point wasn't to win, but rather to inform the American people of the differences between the two candidates. But even though Obama is still rowing a political boat, I believe that he's trying to arrive at a humane and decent destination.
"I think the pundits and the press, you guys are looking at tactics. What the American people are looking at is they might lose their job ... they might lose their house...What's relevant is the substance of this thing, which is people out there are hurting, and John McCain has promoted the same policies of George Bush, and people know they're not working. They understand we can't continue four more years of doing the same thing."
But the instance that I was most excited about (and I hope it excited any other half-interested person under the age of 25) was Obama's explanation of the $700 billion bailout and what is happening in the economy. My happiness came partly because I've spent most of my morning on the internet, trying desperately to figure out what exactly is going on in the economy and how it got this way. I've been reading The Guardian, a short history of Fannie Mae and Freddie Mac, an Economic Times article on the recent re-structuring of both Fannie Mae and Freddie Mac, the Wikipedia pages for "bailout," the SEC, and GSEs, and I even called my father to try and understand what the fuck is happening and whether it will affect me. And after reading all of that and slowly coming to grasp just the smallest crumb of understanding, it was lovely to hear Obama's rationalization of the economic crisis:
"If the credit markets collapse, what it means is banks aren't lending businesses money. Businesses then can't invest in plants and equipment and make payroll, so they shut down. And that means the suppliers of those companies, they shut down. Over time what happens is you get the whole economy coming to a standstill. That's what happened during the Great Depression," he explained. "And at that time, it was just banks that were in charge of capital. Now you've got all different ways that money flows ... but the bottom line is, that if money freezes up, businesses can't do business, and you get an enormous contraction of an economy. And that, ultimately, will affect that 20-year-old, because that 20-year-old is going to be looking for a better job after he gets out of school. ... If our businesses aren't creating jobs, they're not creating tax revenues — now it's harder for government to finance that college education or to build that new university. So it has a ripple effect."
His explanation is a little basic, but that's actually what our generation needs. We're the ones who grew up inside a nearly virtual system of currency. Most young people have no idea how to balance a check book, let alone have a detailed understanding of how banks work or how to invest in the stock market! Obama understands this, and I think that he's being honest and straightforward about the effects of the economic crisis on our future.
The bottom line is, I trust Obama. I trust that he will bring a good change to this country. I trust that he will make decisions with his electorate's best needs at heart. I trust that he is in this presidential race to spur forth America's progress, not to make himself a powerful figure in history. I trust his judgement, I trust his humanity, I trust him.