A Day At The Congressional Races
Here's today's run-down on the Congressional races: GOP candidates are on the defensive on the economic crisis in a big way -- and in their fumbling efforts to respond are digging themselves in deeper and deeper.
Coleman Keeps Saying Government Could Net Huge Profit On Bailout
Sen. Norm Coleman (R-MN) is defending his bizarre statement on Monday that the proposed $700 billion bailout for Wall St. could make the government a profit of 10 or 20 times the principal. "If you buy assets at close to fire-sale prices and the market stabilizes, you'll see an improvement in assets," Coleman said -- forgetting that this bailout is structured in such a way as to specifically avoid buying assets at fire-sale prices, and the securities being bought would be unlikely to return to their hypothetical maturity valuations.
GOP Candidate's Staffer Uses Fake Name At Dem Candidate's Press Conference
The press secretary for House candidate Cynthia Lummis (R-WY) has been caught calling into a press conference by Democrat Gary Trauner, using a fake name and identifying herself as a Trauner supporter so as to better asked a pointed question about the Dems' energy policies. This seat has been in GOP hands since the 1978 election, but Trauner's near-win back in 2006 makes this a very competitive race for the open race this time around.
GOP Demands Dem Ad Against House Candidate Be Taken Off The Air
The NRCC is demanding that Kentucky TV stations pull a DCCC ad accusing GOP House nominee Brett Guthrie of shipping jobs to Mexico that could have been done in Kentucky, saying the ad is false.
The DCCC is standing by their claims of fact, with citations showing that some of Guthrie's factory work is outsourced to Mexican companies instead of being done in-house or through an American sub-contractor.
Dems On Track For Senate Pick-Up In New Mexico
CQ has changed its rating on the open New Mexico Senate race from "Leans Democrat" to much stronger "Democrat Favored." This seat has belonged to popular Sen. Pete Domenici (R) for 36 years, but his retirement seems to have effectively ceded it to Democratic Congressman Tom Udall.
Another Poll Gives Shaheen The Lead In New Hampshire
A new University of New Hampshire poll gives Democratic Senate nominee Jeanne Shaheen a 48%-44% lead in her race against incumbent GOP Sen. John Sununu, who narrowly defeated her back in 2002, within the ±4.3% margin of error. This is the smallest lead Shaheen has had in the polling on this race -- but like all the other polls out there, it shows her beating the incumbent.
Dems On The Air Against Susan Collins
The DSCC is on the air in the Maine Senate race with this ad against Sen. Susan Collins (R), an interesting choice:
The polling in this race shows Collins seemingly safe in her re-election campaign against Dem Congressman Tom Allen, consistently registering winning margins of ten points or better. That said, the Dems may be taking the attitude that nothing should be written off or left to chance, even if there are apparently better places to spend their money.















Coleman is a gigantic doofus.
I think my guy Al Franken just found the subject for his next campaign ad.
September 24, 2008 12:01 PM | Reply | Permalink
So Coleman thinks the bailout is actually a debt reduction plan?
September 24, 2008 12:12 PM | Reply | Permalink
talk about putting lipstick on a pig...
September 24, 2008 12:34 PM | Reply | Permalink
Maybe Coleman's math explains why Republicans can't handle finances. He said the government could buy the banks' debt for 10-20 cents on the dollar and make 10-20 times the money back. That means if government bought the debt for 10% of the debt, and got 10 times back, that would be the full value of the loan. If full value could be got, Wall Street wouldn't be anxious to dump it. To get 20 times value, the government would have to collect fully on each loan --- twice. Which Coleman apparently doesn't realize can't happen.
He also said he's against more regulation, but he does want more transparency. Yes, he said that. Here's the original story: http://www.mankatofreepress.com/archivesearch/local_story_264233751.html
September 24, 2008 4:12 PM | Reply | Permalink