Quote from 377OHMS:
I think McCain would have been much better.
He isn't quite a republican so I think he would have followed a similar flawed line of thinking regarding stimulus and bailouts.
The difference would have been that the stimulus would not have been sent straight to the labor unions and the bailouts would not have been targeted to benefit left-wing ideology. McCain's "stimulus" would likely have been directed at a wider portion of the economy and not directed merely at huge institutions. There would have been some new kind of small business loan apparatus (agency if you like) to keep small businesses funded and probably a reduction of income taxes on the middle-class in an attempt to stimulate consumerism.
Would it have worked? I don't know because by 2008 most (well, many) people got it into their heads to save money at historically high rates so I think that money would have disappeared into savings accounts, bonds etc.
Certainly billions would not have been dumped into ill-advised "green industries" unless there was a solid market behind them.
Yeah, McCain would have done a better job with the economy.
But what about the wars?
It is entirely possible maybe probable that we would be kicking Iran's ass right now. It is not rational to allow Iran to possess nuclear weapons and something would have been done about it particularly while we already have troops in almost every border country. McCain would have propped up Mubarek, he would have had Assad deposed and would likely have directly gone after Ghaddafi.
So, I think McCain would have made a safer world than Obama.
War with Iran alone would have made the whole presidency a nightmare. McCain's stimulus would have been a tax cut for the rich. Worked real well before.