Add Bob Schieffer to the growing ranks of journalists who buy into the neo-hooverism spreading like wildfire among the punditocracy. This austerity-for-austerity's sake posturing isn't helping anyone understand the real issues that underlie the economic crisis and the policies the U.S. should adopt to get out of it. As I write this, McCain is firmly denying that he is George Bush. Give one to McCain, he is on point tonight, confident and aggressive. Unfortunately, Obama is standing his ground well and looks composed -- his quick list of policy positions that contradict Democratic conventional wisdom was an excellent response, and he turns it back around to go after McCain's support for the Bush administration adroitly.
-- Tim Fernholz
