Which Presidential Candidate Is The Lesser Evil For The U.S. Economy?
Although I know some libertarians are rooting for Obama while holding McCain to be the greatest evil, that is something I don't agree with. In fact, I think that given the likely circumstances, McCain is in fact the lesser evil.
One reason is that McCain seems to be the by far best on domestic policy, promising tax cuts instead of tax increases, and at least in general unspecified terms propose spending cuts instead of promising large number of new government programs, as Hillary and Obama do. Moreover, while Hillary and Obama argue about which of them is the greatest protectionist, McCain argues for free trade. On the other hand, McCain supports a neoconservative foreign policy, which at the very least means a continuation of the current American presence in Iraq, while both Hillary and Obama promises if not a complete, then at least nearly complete withdrawal.
But the most powerful argument for why McCain is the fact the lesser evil under the current circumstances is that the Democrats are likely to hold onto and indeed increase their congressional majority, particularly in the Senate. Remember, the president is not all-powerful. In order to implement his policies he (or she, if Hillary against all odds manages to defeat both Obama and McCain) needs congressional support.
When there is united government, that is when the same party controls the White House and both chambers of Congress, and then things tend to get out of hand, as that party's statist projects get approved out of party loyalty. This is something we've historically seen under both Democratic and Republican hegemony. When, by contrast, there have been divided government, then the White House and Congress have blocked each other's statist projects because of partisan rivalry. This is something we for example saw during the last 6 years of Bill Clinton's administration, and this is what has been seen in the most recent Congress.
During the first 6 years of the Bush administration, Bush only vetoed one spending bill and that was for the wrong reason. Now, by contrast, Bush have vetoed several Democratic spending bills.
And so, with McCain as president, he is likely to block the Congressional Democrat's quest for more domestic socialism. While the Democratic Congress will block his neoconservative foreign policy initiatives. By contrast, a Hillary or Obama administration is likely to get their vast expansion of domestic socialism easily approved by their fellow Democrats in the Congress.