Economic crisis takes toll on campaign

October 1, 12:37 PMCongress ExaminerIgor Derysh

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Ralph Nader and Bob Barr, Courtesy of CNN

As bailouts and bank rescues continue to take their toll on the economy, some eyes are looking toward the future. In particular, how increased government spending on bailouts of corporations will affect the candidates' platforms on spending and taxes.

As several major bailouts loom, including the proposed $700 billion Wall Street bailout, Senator Barack Obama's and Senator John McCain's proposed tax cuts, health care spending increases, defense spending increases, and other expenditures are now in jeopardy.

Senator Obama himself has stated that the cost of these bailouts may require him to scale back his "ambitious plans for health care, energy, education and infrastructure."

Senator McCain had planned to make the Bush tax cuts permanent and cut taxes even further as well as increased funding for the Defense Department. Even though McCain says that he plans to cut back spending further than just earmark reform, his proposals do not seem as pragmatic anymore.

Aside from just the possible need to scale back these spending promises, the candidates' support for the $700 billion Wall Street bailout may also affect voter support.

According to a recent Associated Press poll, only 30% of Americans support the bailout plan . No, candidate supporters will not switch to the other candidate; they both support the bill.

Instead, fringe voters, an increasingly growing voting bloc, may switch their support to candidates outside of the box. Both Independent Ralph Nader and Libertarian Bob Barr have taken strong stances against the proposed bailout.

According to a recent NBC News/Wall Street Journal poll, the two independent candidates currently control 7% of the vote; five-percent for Ralph Nader, two-percent for Bob Barr.

With the two getting more and more media attention; Nader recently appeared on Late Night with Conan O'Brien and Real Time with Bill Maher while Barr has made numerous appearances on several shows on CNN and Fox News, there is a growing chance that the economic crisis may push even more voters to independent candidates.