10.08.2008

Which Side Is He On?

WASHINGTON (AP) - Republican presidential candidate John McCain is proposing a $300 billion program for the federal government to buy up bad home mortgages and allow homeowners to keep their houses.

McCain said: "Until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy and we've got to get some trust and confidence back to America."

In an unusual step, McCain announced the plan during Tuesday's debate. He said that as president he would direct the federal government to purchase mortgages directly from homeowners and mortgage providers. The loans would be replaced with fixed-rate mortgages, ostensibly at a loss to the government.

"Is it expensive? Yes," McCain said.

Thoughts:

(1) Isn't this exactly what the government just did with the almost $1 billion billion bailout? That is, buying bad mortgages and trying to work them out?

(2) We need $300 billion more in welfare?

(3) Since when is it the government's job to "stabilize home prices"?

(4) This guy is a Republican? If Obama wins, part of the reason has to be that conservatives aren't remotely energized by McCain who sounds more like a Democrat than a Republican.

23 comments:

Anonymous said...

OH HELL BARRY!!
DO YOU KNOW WHAT YOU'VE SAID!?????
WordKyle is probably charging up his defibulator...........
get ready for some serious posts on this one.........lol

M-M said...

1) Should be "almost $1 Trillion"

You are exactly right Barry. Pure craziness.

Anonymous said...

McCain won the debate on the economy with his plan to freeze spending expect for military, veterans and defense and a real plan to stabilze the home market. The plan to buy up mortgages going into foreclosure will allow the homeowner to stay in the home. This will help main street and not allow the voltures to come in and buy up the homes! This will stablize the market for all homeowners because too many homes in foreclosure or vacant in your neighborhood reduces the value of all properties.

Fannie Mae and Freddie Mac made too many bad loans to people because Obama and other Democrats refused to reign them in. After John McCain bill died in committee, Fannie and Freddie put $1 trillion dollar in subprime loans and reduced to 2% for bad debt. Banks have a much higher requirement for reserve for bad loans. Fannie and Freddie are not regulated by the SEC but are under Congress. The housing bubble was destined to burst leaving the taxpayer to cover the goverment backed mortgage securities. The blame for where we are now goes to the very liberal Democrats who have been in charge of Congress for the past twoo years.

The plan McCain came up with was the same as Hillary Clinton and conservative economist. Clinton is a centrist; not to the far left.

$300 billion to stablize the home market from a free fall is more important than preventing a free fall in the stock market. Losing your home value or losing your home will be another depression unless action is taken to stop it now.

If Obama wins, heaven help us because not only are home values will drop, many will lose their jobs when Obama tax plan for small business is passed. If he is elected, there will be no check and balance. Also, small business will be fined for failure to provide workers the kind of health care the liberals think they should. His health care plan cannot be funded during a severe depression.

Voters need a reality check before the election because reality is going to hit after he is elected.

Every voter must answer the question of character when they step into the voting booth. What did Bill Ayers see in Obama? Why did Obama start his political campaign in his living room. Ayers hates our way of life and I think down deep Obama does also. The change they have in mind for us will change our country forever. Obama is too dangerous to lead during two wars and a global economy in crisis.

Voters are very angry but their anger is misdirected at Republicans and George Bush. Obama is a weak candidate who is an opportunist taking advantage of the anger.

Get mad at those who allowed $6 trillion dollars in loans at Fannie Mae and Freddie Mac. Obama did nothing to stand up to stop it. That is his record.

I'm a life long Democrat who is mad as down under at the Democrats who let this happen. Not one more penny or one more vote will they get from me until they stand up for the working people they claim to represent. The Democratic Party as I know it is gone becasue it has been hijacked by Howared Dean, George Sorros and the far left wing.

I'm voting for a true reformer during a crisis like I've never seen in my lifetime.

Anonymous said...

Did anyone catch Obama say last night that Healthcare is a right?
Well, great!!
That means if your a citizen of this Country and you grow up to be a do nothing, lazy ass, who mooches off the system, you gonna get you some free health care boy!! Hell, don't go to work!! Let the Government keep feeding the problem. Let's see, what could be the problem with health care today? Lazy ass people, illegals, yea, let's just take care of all of them, we can afford it!

Anonymous said...

can you imagine the damage this congress could do with a dem. president. God help us.

Anonymous said...

Being in this country illegaly is a right according to some.

Anonymous said...

8:26, this is the sort of spill I would expect from someone who blames everything on someone else. The facts are that the Republicans controlled all three branches of government for over six years and they could have done something if they wanted to. Fact is that they relaxed the controls on their wealthy supporters and gave them a free reign of the market and look what we have now. The Democrats have had control of both houses for less than two years but Mr. Bush would not let anything go thru except what he wanted. So pull your head out of your behind and get a view of the real world.

Jarhead said...

R.I.N.O.

Been saying it all along.

wordkyle said...

Not much for me to get crazy about. McCain is not a Conservative by any stretch of the imagination. He outlasted the Conservatives in the primaries. (During the primaries he was the media darling.) What he is, though, is a much better choice than Obama.

8:26 said it more eloquently than I could.

Anonymous said...

To 8:29 AM

Here is the deal. I worked all of my life and lived well below my means so I could build a retirement account that would carry me thru my golden years. All thru those 35 years, I paid into Social Security, medicare and more than my share of income tax, property tax, sales tax, school tax and on and on. Additionally, I have volunteered numerous hours and made financial contributions to community betterment.

News reports today indicate $2 trillion in personal retirement accounts have been lost in the last 15 months. My lifetime of hard work and savings are are in there.

Everyone agrees SS and Medicare are underfunded and not to expect anything from them.

Now are you sure I have no right to health care?

Anonymous said...

we are becoming more and more socialist all the time..when obama becomes president, you can believe change is really gonna come. the fed gov. will rule in favor of the have-nots..working class people will contribute more than ever in history. what happened to freedom, are we free..?? WWWWD..(w wallace)

Anonymous said...

it looks more and more everyday that putin, castro, chavez, kim dong, and the chinese guy must have it right because we're headed in the exact same direction...can anybody else see this..???

Anonymous said...

9:12, you misunderstood what I said! I'm not talking about someone such as yourself who has paid their dues all their life. Yea, if you paid into it you deserve it, by all means. The people I was talking about were those who have never "hit a lick at a snack" and never will because they know there are people out here such as you and myself that will pay-in to taxes so they get their free health care without lifting a finger. The "true" poor in this Country should be taken care. The drug abusers who can't hold a job or even attempt because they are so messed up on drugs shouldn't be able to get free health care, it's their choice. Obama said it was a right, he didn't clarify who's right but you can bet as liberal as he is, he meant everyone from the lazy to the illegals to the welfare scammers to the drugies and that money you worked so hard for, will take care of them. Now, are you sure they have a right to health care?

Anonymous said...

8:54 I think you have it wrong about the blame game. Democrats are pointing their finger at Bush when they pushed though $1 Trillion in loans between 2005 and 2007! All of us who read know Obama worked with ACORN back when he first went to Chicago forcing banks to make loans to people who couldn't afford them. Making loans to people without income/debt ability to pay is bad business. That is why we are in the mess we are in today.

John McCain has a plan to take $300 Billion of the $700 Billion to buy the bad loans and stabilize the housing market. If you live in a neighborhood with a lot of homes under foreclosure, your biggest investment is at risk. Once the home market is stabilized, the economy will be on the way to recovery.

Congress failed at oversight thinking the value of homes would just keep going up and up and up. McCain took action in 2005 while Obama didn't sign on.

Stay angry at the Republicans and vote for Obama. Your anger is simply misplaced allowing Obama the opportunity to sell snake oil and allow you to stay out of reality.

If he is elected don't count on the tax break because he has a record of not keeping campaign promises. And who knows who he will surround himself with; perhaps more of his anti-American associates.

Anonymous said...

don't think McCain said 300 of the 700, Think he said 300!!!!!!!!!

its always fun to see McCain adopt Hillary's plan.

Anonymous said...

freedom was lost under fdr(small caps on purpose).its just taken this long for it to hit home.

Denney Crane said...

Man, are you that far evolved?

1 No its not
2 It is not welfare. Buying up bad mortgages could be profitable.
3 It's not...and it cant
4 He's a liberal Republican or a conservative Democrat...which means he still has lots of problems.

The Republicans tried to stop Freddie Mac and Fannie Mae in 2002 and 2003, but a group of Democratic Senators led by Barnie Frank shut them down. Most of these same people are on Obama's finance committee...go figure.

You gotta hand it to McCain for at least one thing; if there's too much pork, he votes against it...not popular but right.

Anonymous said...

If what I personally gathered from a recent Rolling Stone article is true about John Sydney McCain, III, I rescind any respect I ever had toward him. His "psychic apparatus" is as, or more, f^cked up than George W. Bush's is. I don't know if I have the stomach for much more that their shiate.

Anonymous said...

Republicans are so "skeered" about socialism. They bleat like sheep (that they are) at the very mention of the word. However, they have and live by many socialized services that they would not (maybe they do!) want to do without. And besides that, commies, just like the NAZIS, are not very generous with liberties or rights. NAZI's were very conservative, and maybe commies are more conservative than everyone gives them credit for. Commies have little toleration, just like our conservatives here. Maybe many young brainwashed Limbaugh Republicans do not remember/have not had the chance to view, the films we watched at school during the 50's and 60's about how mean the Russian Communist Regimes were to their citizens. Executing them for minor crimes, or political disagreements were standard. Even now communist China (and Russia) can be vicous toward it's own people. Now, Conservatives probably really like this kind of thinking, so maybe they have just as much social commie thoughts as real commies, and just can't recognize the symptons. Our country, as stated by observant writers, already has socialized highway/transportation systems, law enforcement, fire departments, city water is a socialized service, socialized military. Yep, why do we need a socialized military anyway when we have a well armed civilian militia with all the citizens and rednecks with complete arsenals in their homes? Look at the money we could save to make big, big tax cuts if we could just cancel the military out of our country. Families can take turns going to Iraq and shooting those "bad men" and "evil doers" and making Iraq free. Hell, after the surge, there is so little danger there anyway. Most of us has paid a buttload of taxes, so heaven forbid, there would be any kind of benefit resulting from it. Oh, I forgot, our tax money is needed help those poor souls that have a lot of money with socialism dollars. Who would have thought it.

Anonymous said...

John McCain is a:
R.I.N.O.

George W. Bush is a:
W.I.N.O.

Wise County Republicans are a:
W.H.I.N.O.

Wait, correct that.

Wise County Democrats are a:
W.H.I.N.O.

Wise County Republicans are a:
N.O.N.O.

wordkyle said...

1125 - Conservatives have always believed that there are a few things that government does well, and a huge list of things that government does not do well.

Healthcare, mortgages, and banking are among those things that government does not do well.

If you want to convince someone of your beliefs, then explain how the Liberal Democrat political philosophy is different from the Communist philosophy:

From each according to his abilities;
To each according to his needs.

Anonymous said...

No WK, you explain why some socialism is good and other socialism (the ones Pugs don't like) don't work.
If you want to convince someone of your beliefs, then explain how Conservative Republican political philosophy is different from NAZI liberty robbing and citizen control thinking.
Also, what about Democrat politcal philosophy that does not execute innocents, or near innocents, or execute ones that just don't think like a conservative group believes and thinks they should be? Communist do not mind killing those that disagree with them, just like NAZIS, and other extreme conservative groups. Such as the Taliban. Such as Al Quaida. Such as Muslim Extremist that are really conservative. You conservatives have some real classy company.

wordkyle said...

As I figured you would, you disregard the similarities between Communism and the Democrat party.

Here's Wiki's definition of socialism: "state or collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society"

Conservatives believe that although all men are created equal in the eyes of God, it's ridiculous to believe in -- or try to create -- a society in which every person has equal conditions. By trying to create an egalitarian society, socialists merely limit the potential of the individual. As for collectivism, mankind has forever known that some things work better when people work together. But history has shown that in some cases it doesn't -- Social Security, Medicare, the Veterans Administration, the Spice Girls -- the list is endless. Conservatives have never said that people should not work together on some things. Merely that government should stay out of most things.

The rest of your tirade is simply crazed. But to spell it out for you, here goes:
Conservatives do NOT want to rob you of liberty (but Liberal Democrat laws to control smoking, global warming, "save" endangered species, etc. fit that description well;)
Conservatives do NOT want to control citizen thinking (Liberal Democrat attempts to silence Conservative voices might fit the description, though;)
Conservatives do NOT want to execute innocents (although Liberal Democrat support for abortion is pretty darned close.)

Something a little more creative and original next time, okay? Oh yeah, and more truthful and intellectually honest, too.

All I asked was a simple question: How is the Democrat plan to tax the "rich" even more than they already do, and redistribute it to those people the government decides are "in need," different from the Communist philosophy of:

From each according to his abilities;
To each according to his needs.


A simple question that no one ever answers.