I'll Call Your 700 And Raise You 300
There are plenty of people who don't like McCain's $300 billion bailout plan. (How it would be implemented--under the authority of the $700 billion plan or not--is still unclear.) But one group you think would keep their mouths shut are Democrat politicians, who like government bailouts.
But this hasn't stopped Barack Obama from raking McCain over the coals for his idea. So let's get this straight. The $700 billion bailout (let's call it the Bush plan) was necessary to save the economy, but a $300 billion bailout is an economic disaster that will drive us into a depression. Okay, gotcha.
posted by LAGuy @ 12:17 AM
11 Comments:
It is gross political stereotyping to state that Democrats "like government bailouts." The details matter. Why don't you address the specifics of Obama's criticisms of this particular "proposal."
By the way, after $700 billion have already been spent, I would think another $300 billion might be of a concern to any thinking person. Is there a time when we might reach a limit? Or do you agree with Cheney that "Reagan taught us deficits don't matter."
No, the details don't matter. They changed enormously through the two weeks of negotiating. The main thing was the government was taking more control of the economy--that's what the Dems love.
And it's absurd to say a huge number like 700 billions--which no one knows is anywhere near what we need--maybe we need ten times less, maybe we need tens times more--is acceptable and in fact absolutely necessary RIGHT NOW NO WAITING--but I've got to draw the line at 300 billion more (even if the 300 billion were a separate cost, which it doesn't seem to be--if anything, the Dems might be annoyed that they don't get their clutches on all of the 700 billion).
The point about the 300 billion is that John McCain pulled it out of his a** during the debate -- why don't we buy all your mortgages? It's another example of McCain doing and saying whatever he thinks will get him some points in a desperate situation.
Ironically, McCain's commercials say we should choose him for leadership and to avoid bad judgment. McCain's judgment is scary. He will leap at anything that he hopes will give him the turn-around -- from an unvetted VP pick (just determined to have abused her power to try to get her brother-in-law fired)to "Hey, here's $300 billion if you'll vote for me!" I am absolutely frightened what will happen if he is elected. He is a loose cannon.
By the way, it's the Republican administration saying: "You must do this $700 billion bailout right now." I don't know if they're right, but I don't think the Democrats have run into this happily at all.
The Dems couldn't wait to get this deal done. They were salivating. The only thing that held them back were the House Republicans.
McCain may seem "erratic," to use Obama's terminology, but Obama's opposition to McCain isn't principled, it's opportunistic. This is the kind of thing he might have come up with, but since McCain did it, he now opposes it.
Obama is much more conservative than that -- what was stopping him from saying "Here's $300 billion to buy all your mortgages" if that's what he wanted to do? It's not that hard to think of. No question that an Obama administration will be much more fiscally responsible than the Bush Administration. I can't say for sure about a McCain Administration, because we have absolutely no idea what he would do.
"No question that an Obama administration will be much more fiscally responsible than the Bush Administration."
I don't know how anyone can say that with a straight face. He's been quite vague about anything in particular except that we know he wants to raise taxes much higher, he wants to spend trillions on new programs, and he probably wants to heavily regulate industry. (He also doesn't want to cut military spending as far as I can tell--he wants to move our troops out of Iraq eventually so they can go to Afghanistan.) Oh yeah, he'll also likely have a rubber stamp Congress.
Wow, I'm gone for less than a week, and this place goes kinda wild. LAGuy, in the course of this once thread you've said: "Democrat politicians. . . like government bailouts"; "the government [] taking more control of the economy--that's what the Dems love"; and "Dems couldn't wait to get this deal done. They were salivating."
That's one hell of a caricature you're painting there, man. You're essentially saying that Democratic politicians are so eager to spend government money at every opportunity that they're thrilled to do so even just to buy worthless corporate bonds.
Welcome back, QueensGuy.
It's hardly a caricature. It's the essence of the Democrats. They believe the government is good, except for maybe the military, and any programs that expand its purpose and allow it to spend more money are a good idea. The only slight fear some of them had about this new program was that it might be helping rich people.
And Republicans are a combination of the heartless wealthy, bent on keeping the populace in indentured servitude and clueless troglodytes who base their every decision on their desire to be raptured and soon. WHat an elevated discussion.
Obama now supports a moratorium on foreclosures. I'm sure glad he's not an erratic guy who goes for gimmicks.
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