Somehow he missed the collapse of Lehman Brothers, the forced sale of Merrill Lynch (announced the day before), and the AIG fiasco. He tried to backtrack the next day, by calling the economy fundamentally sound, what he really meant was that American workers are the best in the world.He proved he was out of touch with not only the economy but also what was happening all across America.
Instead of being a positive factor in the current mess, McCain is proving once again that he has not yet grasped that the days of Karl Rovian rhetoric are over.
The stimulus bill which Obama will sign Tuesday is “incredibly expensive,” McCain said. “It has hundreds of billions of dollars in projects which will not yield in jobs,” McCain told CNN Chief National Correspondent John King. “This was supposed to be a package that was going to create jobs.”One can only wonder what McCain would be proposing in a similar position. It scares me to think about it. He is all over television saying "the economy will come back".
I am not a big fan of the stimulus package. However, I believe it is necessary and I doubt we could get anything better in the current political environment. I am also convinced that inaction--waiting for the economy to come back on its own--would be a disaster.
Dear John, wake up.
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Stimulus bill was 'a bad beginning' for Obama, says McCain
From CNN Associate Producer Martina Stewart(CNN) – Arizona Sen. John McCain did not pull any punches in assessing a major milestone in his former rival’s nascent presidency.
“It was a bad beginning,” McCain said Sunday of the legislative process that resulted in the $787 billion stimulus bill recently passed by Congress. “It was a bad beginning because it wasn’t what we promised the American people, what President Obama promised the American people – that we would sit down together.”
While McCain said he appreciated the fact that Obama came to Capitol Hill to speak with House Republicans about the stimulus bill. But, “that’s not how you negotiate a result.” Instead, “you sit down in a room with competing proposals” and “almost all of our proposals went down on a party-line vote”
“I hope the next time we will sit down together and conduct truly bipartisan negotiations. This was not a bipartisan bill.”
But the former Republican presidential nominee was also critical of how his own party had conducted itself in the past when it came to bipartisanship.
“Republicans were guilty of this kind of behavior,” McCain said. “I’m not saying that we did things different. But Americans want us to do things differently and they want us to work together.”
The stimulus bill which Obama will sign Tuesday is “incredibly expensive,” McCain also said. “It has hundreds of billions of dollars in projects which will not yield in jobs,” McCain told CNN Chief National Correspondent John King. “This was supposed to be a package that was going to create jobs.”
McCain also spoke about the potential long-term effects of the stimulus bill.
“We are committing generational theft,” McCain said. “We are laying a huge deficit on future generations of Americans.”
Failure to bring the federal government’s spending back in line with its revenue once the economy improves could lead to inflation and debasement of the dollar down the road, McCain also told King.
McCain, who has represented the border state of Arizona in the Senate for more than two decades, also discussed illegal immigration on State of the Union.
Filed under: John McCain • President Obama • State of the Union • economic stimulus
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Foreclosure is the major cause of our financial crisis. Government should really prioritize this issue.We should really keep ourselves updated.
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