Maybe I just am naive or don’t understand…
Pardon me while I talk about politics for a post…
Clearly I must be crazy. In the first five minutes of the debate tonight McCain said the following about fixing the economy:
“We have to keep Americans’ taxes low. All Americans’ taxes low. Let’s not raise taxes on anybody today.”
Then McCain said this:
“So we’re going to have to tell the American people that spending is going to have to be cut in America. And I recommend a spending freeze that — except for defense, Veterans Affairs, and some other vital programs, we’ll just have to have across-the-board freeze.”
but that was after saying this:
“We obviously have to stop this spending spree that’s going on in Washington”
and then followed it with the following:
“We’ve got to have a package of reforms (codeword for money) and it has got to lead to reform prosperity and peace in the world” (actually the thought of McCain’s version of spreading prosperity and peace seems like it would be similar to Bush’s way of spreading democracy)
“And I think that this problem has become so severe, as you know, that we’re going to have to do something about home values.”
“As president of the United States, Alan, I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes — at the diminished value of those homes and let people be able to make those — be able to make those payments and stay in their homes.
Is it expensive? Yes. But we all know, my friends, until we stabilize home values in America, we’re never going to start turning around and creating jobs and fixing our economy.”
“So this rescue package means that we will stabilize markets, we will shore up these institutions. But it’s not enough. That’s why we’re going to have to go out into the housing market and we’re going to have to buy up these bad loans and we’re going to have to stabilize home values, and that way, Americans, like Alan, can realize the American dream and stay in their home.”
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I’m not a mathematical genius. But I don’t see how you can have a spending freeze, not raise taxes on anyone while spending money overseas with what sounds like ’spreading democracy’ while BUYING UP ALL THE BAD MORTGAGES!!! What constitutes a bad mortgage? Should I stop paying now so that my mortgage qualifies? Won’t that create an unequal balance in the Real Estate market unless ALL mortgages are reduced? Really? Really this is a good idea? Something tells me he didn’t run this buy his financial adviser first.
So he’s screaming socialism when it comes to health care being made available to everyone- but basically paying to refinance the entire countries loans is what now?
Wow. Just wow.
The entire country (especially the people in government) need to watch this video.
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I didn’t feel like there were any real answers from either candidate. I felt like OBama beat around the bush as well.
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I don’t like either of them. I’ve never felt less like voting in an election. I don’t like the fact that both of them say they don’t want to increase spending and yet, like you point out here that McCain says, they both have things that they want done that are going to cost money.
I don’t think anyone should be bailing this country out of anything. If we keep getting bailed out, when are we going to learn our lesson?
Bleh.
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I’ll keep this brief. I’m not thrilled with the bailout AT ALL. However, I think the immediate ramifications of NO bailout would be horrendous to the citizens of this country. Even worse than the ramifications of a bailout. In the long run, I think no bailout would be best, but I’m not sure many would survive to that point to reap the benefits. It’s a no-win situation in my book, but at this point, I think the bailout is the better of the 2 choices.
And you know where I stand as far as my vote in this election
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I’ll add my two cents as well. I also think that the fact we have to do a bailout is ridiculous, but it has gotten to a point where it seems like something has to be done. There was a piece on CNN that the “experts” were saying people and companies should just be able to declare bankruptcy instead of the country doing a bailout. I think that would be insane. Don’t forget though that Obama full heartedly supports the bailout and that buying up bad mortgages is part of the bailout, not a separate thing. McCain wants to use some fo the bailout money to those things, not additional funds. Also, both Obama and McCain have tax cuts and spending cut promises, so don’t forget to look at both sides here. This bailout and buying mortgages is supposed to be considered an investment (though not a very good one). The government hopes to get some or all of this money back, and to possibly gain a bit of profit over time. That is different from wasteful spending that never comes back.
I just want to know how! The candidates keep saying they are going to do all of these things, but I would like to see a plan. How much money is it going to cost me as the American tax payer who already pays 40% plus in taxes? I’ll always vote for the most conservative guy, but this election we basically have a choice between to pretty liberal guys. The Republican party isn’t all that conservative anymore.
I didn’t like last night’s debate. It was boring, all I heard were the same talking points I’ve heard for months and months, and they didn’t have a direct conversation. It didn’t help, and I’m still undecided.
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CRAZY! I notice he left defense out, so let us continue to fund a war based on lies and bail out the rich, and we will do this how???? grrr.
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Oh I know McCain isn’t the only one making outlandish promises- I’m just wondering how he’s getting away with calling Obama a big spender. Pot I’d like you to meet the kettle.
From what I understand about 300 billion of the 700 billion is ‘available’ for homeowners- but it’s to the secretary of the treasury’s discretion. McCain’s plan is likely to cost more then the $300 billion. Much, much more. Also his origional plan had the mortgage company’s taking some of the hit rather then taxpayers. The amended plan (released 8ish hours after the first) has the government (our tax dollars) taking the loss and the companies that played a large part in this walking away counting their money.
http://www.politico.com/news/stories/1008/14414.html
This is a good article: http://www.usnews.com/blogs/the-home-front/2008/10/08/john-mccains-bottom-up-housing-bailout.html
One question I’d like to see answered is the one that’s been asked in BOTH presidential debates and in the Vice presidential debate- but none of them have answered.
Basically, ‘The economy is in the crapper- we need to recover and you can’t do everything that you have promised. What would you cut?’ No one will answer that. I wish someone would say,
“Well, I think that we need to cut $X here and $Y here and reign in spending in these areas until the budget is balanced. I won’t pass any new spending until we’ve decide what of the current spending can be done away with. I know it’s not really a popular position- but I feel it’s the best position for our country.”
What I’m wondering is what ‘true’ conservatives are going to do? McCain is clearly NOT a fiscal conservative- no matter how many times he says that he is it simply doesn’t make it true. Obama is not (but is not claiming it).
I actually consider myself to be fairly fiscally conservative- but my bleeding heart liberal generally wins out- so those of you who are clearly conservative- do you feel like you even have a horse in this race?
I’m adding a relevant SNL clip.
I’m voting for McCain simply because I agree with him much more than I do Obama. I WISH we had a MUCH more conservative candidate to vote for, but he’ll have to do for me.
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A thought for the bleeding heart liberals. Both candidates are planning to spend astronomical amounts of money and neither of the candidates have any clue what to do about the economy. (Like they have any control over it anyway.) If Obama does get elected he will be picking the Supreme Court justices. Welcome liberal justices! That means at some point in the near future we will have legalized gay marriage and legalized abortion. That’s the reason why I’m voting for McCain, even though he isn’t a true fiscal conservative. When it comes to government spending neither candidate will do anything about it. Oh they say that they will, but it won’t happen. The budget will never be “balanced.” It will take a mighty miracle for that to happen!