< Back to Front Page Text size – +

McCain defends mortgage proposal

Posted by Foon Rhee, deputy national political editor October 9, 2008 04:35 PM

The tag team of John McCain and Sarah Palin, trying to body-slam Barack Obama to the mat, said today that his Democratic rival is more interested in helping Wall Street than Main Street.

Obama has criticized as a handout to financial institutions McCain's proposal to spend $300 billion of the $700 billion rescue package to directly buy troubled mortgages so homeowners can stay in their houses.

But defending the plan, McCain said it's essential to get people into "manageable mortgages" and stem the foreclosure crisis. "We must stabilize housing values in America," he said.

While Obama supported the bailouts of AIG, Bear Stearns, Fannie Mae, and Freddie Mac, "he's opposed to us helping the homeowners of America," McCain told voters in Waukesha, Wisc. "I want to help the homeowners of Wisconsin and all over this country."

In answer to a question about prosecuting those to blame for the housing meltdown, McCain argued that Democrats -- including Obama, Senator Chris Dodd of Connecticut, and Congressman Barney Frank of Massachusetts -- are taking credit for the rescue package, but stood idly by as the subprime crisis festered.

"Willing co-conspirators," he called them.

At the town hall meeting, he addressed the young people in the crowd, saying it's unfair to burden them with more debt. McCain pledged to freeze non-defense spending, and criticized Obama's spending plans, casting doubt on whether he can pay for his programs without raising taxes.

"Only Senator Obama could sell that," McCain said. "It's remarkable, remarkable."

UPDATE: Obama campaign spokesman Tommy Vietor responded in a statement, “It’s now clear that John McCain would rather launch angry, personal attacks than talk about the economy or defend his risky bailout scheme that hands over billions in taxpayer dollars to the same irresponsible Wall Street banks and lenders that got us into this mess – a scheme that guarantees taxpayers will lose money. While Barack Obama ensured that the rescue plan that passed Congress protects taxpayers and homeowners, John McCain’s scheme has been panned by experts and observers from across the political spectrum.”

  • CommentComment
  • EmailEmail
» Back to Front Page
.

John McCain, Maverick or Judas Horse?

Maverick
1: an unbranded range animal ; especially : a motherless calf 2: an independent individual who does not go along with a group or party

OR?

Judas Horse
1: A domestic horse which has been trained to lead wild horses into a trap. ie the slaughter house.

Posted by D Miner October 9, 08 01:52 PM
.

I watched all day on news showing McCain’s interview on Fox News about wanting Obama to come out with the truth about Ayers so the public can decide. Why isn’t anyone calling out McCain on his hypocrisy on TROOPERGATE? He asks that Obama come clean, yet he sends his lawyers to Alaska to coverup TROOPERGATE. Why doesn’t McCain let Palin testify about her TROOPERATE connection so the American Public can decide – the same standard he wants to apply to Obama.

I don’t want to hear this crap that TROOPERGATE is politically motivated and that the AYERS connection isn’t. American people are not stupid. One thing we can’t stand is a hypocrite.


I’m upset that the media televises McCain's hypocrisy when applying the standard of truth for Obama yet ignores his effort in covering up his VP involvement in TROOPERGATE. If judgment is what McCain is questioning about Obama, shouldn’t the American pubic question McCain’s judgment for picking a VP that may be using her powers for personal reasons? Especially after 8 years of Dick Chaney. After all, Palin's character could be a heart beat away from the Presidency if McCain is elected. If McCain wants the American pubic to decide what is true, than let Palin testify. She seems to have some CHARACTER flaws so she is the last person who should be pointing fingers


The media keeps dropping the ball. Everything McCain seems to criticize about Obama seems to apply in his own campaign. Please, Sir, show McCain for the Hypocrite he is.

Posted by steeve October 9, 08 01:55 PM
.

McCain campaign: I think your best salesperson for Barack Obama is AGAINST Main Street and for Wall Street is Cindy McCain. Send her back into battle again today!

Posted by Mavsreader October 9, 08 02:51 PM
.

Any $ dollar plan will be helpful for homeowners and Mccains plan isn't bad at all.

Posted by skmj October 9, 08 02:55 PM
.

Yes - send in Cindy McCain - another women spouting off a bunch of lies and hyporcacy....Every mainstream news media has called McCain on his campaign -- it IS one of the dirtiest and outright gutless campaigns ever run....Yet here she is twisting facts .... i swear these people have NO morals, no internal compass of what is right, and are simply willing to do ANYTHING to attain the highest office in the land.....they are not deserving of even being considered given their dishonesty and outright ignorance of what is just,correct, fair, and accurate

Posted by RedSoxCyr October 9, 08 03:50 PM
.

Okaayyy, troopergate should be exposed, no question there.

But it would also help if Ayers make a statement, something along the lines of, "Bombing things is a bad idea, we were desparately trying to stop the Vietnam war, our government was out of control, we only bombed that statue that glorified cops shooting peaceful civilian protesters, we did this back in the 1960s when Obama was 8 years old, I'm not a buddy of Obama's and we don't "hang out together," but I absolutely agree with his ideas for fixing our country, nowadays I'm a peaceful activist trying to improve education for America's children, and BTW I love America."

Yeah, a statement like that from Bill Ayers would go a long way toward removing the terrorist card from McCain/Palin's deck.

Posted by Wiam October 9, 08 04:43 PM
add your comment *(If you put a URL in your comment, it must be relevant )
Required
Required (will not be published)

This blogger might want to review your comment before posting it.

About Political Intelligence

Reports from Boston Globe reporters and editors about the Obama administration, the Massachusetts congressional delegation, and other national political happenings.
see all Globe blogs

News from the Washington Bureau

Mass. congressmen push for monitoring of aid to Pakistan

Two Massachusetts representatives and witnesses at a House hearing yesterday said more safeguards may be required to make sure $1.5 billion a year in US development aid to Pakistan is not spent inappropriately or skimmed off in corruption. (Globe Staff, 12/9/09)

House votes to eliminate tax break for venture capitalists

The House voted by a wide margin and along party lines yesterday to eliminate a lucrative tax break for venture capitalists, private equity firms, and hedge funds. The measure moves to the Senate, which in past years has refused to eliminate the break. (Globe Staff, 12/9/09)

Senate health bill stalls as costs are weighed

Senator Patrick Leahy told reporters yesterday that he his wife have canceled their plans to spend Christmas at their farmhouse in Vermont, reluctantly concluding that the Senate would probably be stuck in Washington working on its massive health care package right up until the holiday. (Globe Staff, 12/9/09)

US’s long view in Afghanistan troubles many in Congress

Senior administration officials signaled yesterday that the United States will continue to commit a significant number of troops and substantial funding to Afghanistan for many years to come, despite a July 2011 deadline set forth by the president last week to begin a drawdown. (Globe Staff, 12/8/09)

Democrats reach agreement on public health insurance option

Senate negotiators reached a tentative deal last night to drop a full-fledged government-run insurance plan from the health care overhaul bill and replace it with a patchwork of new ideas to help people get coverage, according to a Democratic Senate staffer. (Globe Staff, 12/9/09)

Abortion dispute threatens accord on Senate health care bill

WASHINGTON - The battle over abortion is threatening to derail the health care overhaul package in the Senate, as liberals refuse to accept new abortion restrictions demanded by key moderates, who say that without the limits, they are inclined to vote against the overall bill. (Globe Staff, 12/8/09)

Debate on sending more US troops to Afghanistan becomes a war of words

WASHINGTON - When President Obama announced last week he would send 30,000 more US troops to Afghanistan, it sparked a war of words between supporters and opponents of the new strategy: whether it is a “surge’’ or an “escalation.’’ (Globe Staff, 12/8/09)

Obama prods Democrats on health care

WASHINGTON - President Obama made a rare Sunday visit to Capitol Hill yesterday, imploring Senate Democrats in a closed-door session to resolve their disagreements on health care and finish work on the sweeping legislation. (Globe Staff, 12/7/09)

Worries grow that health overhaul could price out many

President Obama has promised that the nation’s health care overhaul will make medical insurance available - and affordable - for everyone. But while bills in Congress would make insurance more accessible for millions of Americans, advocates worry that the Senate bill would impose significant financial burdens on some of the families who will now be required to buy ... (Globe Staff, 12/6/09)

Once again, Kerry is Obama’s go-to guy in Senate

John F. Kerry of Massachusetts has emerged as the White House’s ambassador in the Senate on a wide range of issues, a role the Democratic lawmaker will showcase in the coming weeks as he lobbies his wary colleagues to support President Obama’s Afghanistan war plan. (Globe Staff, 12/6/09)
archives