Alaska's Largest Newspaper Endorses Obama

Obama for president

Palin's rise captivates us but nation needs a steady hand

Published: October 25th, 2008 07:37 PMLast Modified: October 25th, 2008 08:10 PM

Alaska enters its 50th-anniversary year in the glow of an improbable and highly memorable event: the nomination of Gov. Sarah Palin as the Republican vice presidential candidate. For the first time ever, an Alaskan is making a serious bid for national office, and in doing so she brings broad attention and recognition not only to herself, but also to the state she leads.

Alaska's founders were optimistic people, but even the most farsighted might have been stretched to imagine this scenario. No matter the outcome in November, this election will mark a signal moment in the history of the 49th state. Many Alaskans are proud to see their governor, and their state, so prominent on the national stage.
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.

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