Liberal Values Defending Liberty and Enlightened Thought

The Anchorage Daily News has endorsed Barack Obama. Despite their interest in having their governor on the ticket they acknowledge:

…few who have worked closely with the governor would argue she is truly ready to assume command of the most important, powerful nation on earth. To step in and juggle the demands of an economic meltdown, two deadly wars and a deteriorating climate crisis would stretch the governor beyond her range. Like picking Sen. McCain for president, putting her one 72-year-old heartbeat from the leadership of the free world is just too risky at this time.

The primary reason for endorsing Obama was based upon the economy:

Gov. Palin’s nomination clearly alters the landscape for Alaskans as we survey this race for the presidency — but it does not overwhelm all other judgment. The election, after all is said and done, is not about Sarah Palin, and our sober view is that her running mate, Sen. John McCain, is the wrong choice for president at this critical time for our nation.

Sen. Barack Obama, the Democratic nominee, brings far more promise to the office. In a time of grave economic crisis, he displays thoughtful analysis, enlists wise counsel and operates with a cool, steady hand. The same cannot be said of Sen. McCain.

Since his early acknowledgement that economic policy is not his strong suit, Sen. McCain has stumbled and fumbled badly in dealing with the accelerating crisis as it emerged. He declared that “the fundamentals of our economy are strong” at 9 a.m. one day and by 11 a.m. was describing an economy in crisis. He is both a longtime advocate of less market regulation and a supporter of the huge taxpayer-funded Wall Street bailout. His behavior in this crisis — erratic is a kind description — shows him to be ill-equipped to lead the essential effort of reining in a runaway financial system and setting an anxious nation on course to economic recovery.

Sen. Obama warned regulators and the nation 19 months ago that the subprime lending crisis was a disaster in the making. Sen. McCain backed tighter rules for Fannie Mae and Freddie Mac, but didn’t do much to advance that legislation. Of the two candidates, Sen. Obama better understands the mortgage meltdown’s root causes and has the judgment and intelligence to shape a solution, as well as the leadership to rally the country behind it. It is easy to look at Sen. Obama and see a return to the smart, bipartisan economic policies of the last Democratic administration in Washington, which left the country with the momentum of growth and a budget surplus that President George Bush has squandered.

On the most important issue of the day, Sen. Obama is a clear choice.