McCain disappoints me

[fossten]

This Senate bailout bill passed 75-24. It's filled with pork, as well as being a total disaster of epic socialist proportions.

McCain promised during the convention that he would expose pork in any bill that crossed his desk. He would name names, he would make them famous. He should be leading, doing the things he would do as President NOW, to set the tone ahead of time.

I haven't heard one word from him about the pork in the bill. In fact, he supported the bill. This goes to his lack of integrity. Why should I believe he would veto a pork bill as President, when he supports one as Senator?

And don't tell me about the importance of the bill - that would always be the ready excuse. It's how Bush has lived throughout his Presidency. It's how Clinton went back on his promise not to raise taxes.

Somebody tell me why I should trust McCain anymore.

This entire lot of government is filled with corruption.

McCain will lose the election over this.

 

[02V8Sport]

+1

 

[turborich]

This entire lot of government is filled with corruption.

I agree!

 

[Joeychgo]

I second that...

McCain will lose the election over this.

SHHHHH -- dont tell Bryan.... He'll have a meltdown.

 

[Calabrio]

..in regards to politics, voting against the bill would likely have been suicide, it would have been spun by the left as "John McCain hates mainstreet."

A reminder, Republicans are the minority. The fact that we saw a few sort-of right leaning elements thrown into the deal to sweeten it was a bonus. But the Democrats won't do anymore.

The Republicans have another proposal in the House, but it's virtually guaranteed that the Democrats won't even consider it.

If we're lucky, by the time this reaches the President, the bill will come out of the House a little different. But most people are convinced that because of the impending disaster, something radical needs to be done quickly. Some who are holding their noses while supporting are doing so thinking that it'll at least delay an impending economic disaster for a few more years. And we can't get anything positive accomplished with Democrat majorities.

Obama can't even grasp the concept of reducing federal spending.
At the debate, they were basically talking in terms of a depression, and Obama was saying that increasing Pre-K education was a top federal priority?

 

[fossten]

1. This bill should not have been treated politically. McCain disappointed his base by doing so.

2. I have to disagree with you about public opinion, Cal. Most polls have people NOT wanting this bill passed, and in a big way. The only people who want this bill passed are the Wall Street CEOs and the Congresspeople, who want to cover their own butts for causing this crap in the first place.

3. I am no longer convinced that failing to pass this bill will result in a collapse. But here's a tidbit I found from survivalblog:

The second Trouble is that while the "contentious debate" is going on, on Capitol Hill, the Federal Reserve is busy handing out cash (electronically) by the dump truck load, to "pump" liquidity back into the banking system. In just the last 10 days, they've made "emergency loans" to American banks that have exceeded $1.2 Trillion, and there is no end in sight. The end result of all of this "bailing" and "pumping" will be the inevitable monetization of mountains of public debt. There is no way to generate tax revenues to cover even a fraction of it, so, the requisite "dollars" are being created out of thin air. (Read: monetization.) This will of course dilute the value of the dollars already in circulation. So, sooner or later, mass currency inflation will be the end result. I predict that if this monetization goes on unchecked for long enough, it will result in a hyperinflationary death spiral for the US Dollar. In our modern, technologically complex, and fragile society, hyperinflation will first result in a tragedy for pensioners and anyone else living on a fixed income. Then as time goes on, it will wipe out any and all holders of paper currency dollars and then the holders of virtually all investments that at denominated in dollars.

 

[Calabrio]

I don't understand how bad this economic issue is.
If it were a local issue, just the U.S. markets, I'd have one response.
However, I don't have a deep enough background to fully understand the world markets. And because of the reckless politicization of this issue by the Democrats, and the efforts of the Bush administration to dumb down the explanation for mass consumption, I doubt I'll hear a sufficient answer.

If this problem were containable, that the hit would cause some short term pain in the U.S. yet we were able to allow the free market to resolve it, that would be best.

However, the only reference I have is the Asian Crisis back in the 90s. Interestingly enough, that was orchestrated by the Goldman Sachs guys as well...... (side note: when are we going to start seeing "Goldman Sacks conspiracy theories along with the CFR, illuminati, and the various Bush ones?)

While globalization is a great thing that can help stabilize the world, the interconnection of the markets mean that a hiccup in our economy can cause a worldwide crash, huge political instability, and we're not safe hiding behind the oceans from the resulting calamities.

Because of this lack of understanding on my part, I'm inclined to support a response from D.C. I don't like this enormous transfer of wealth and power, this hasty response, Democrats desperate attempt to find a quick resolution so that they can bury the story and avoid any investigation of their reckless, ignorant policy, and the long term problems this will cause. I also know that the Democrats will absolutely refuse any free market response to this, for political reasons. And they're not going to embrace the house Republicans, also for political reasons.

The GOP failed us. In doing so they allowed the Democrats to sweep back into power.
Because of them, we don't have the power to negotiate a good response to this. The only option we have is to leverage as much as we can, hopefully regain power, then spend the next 25 years fixing the damage.

 

[foxpaws]

Well, I'll be sure to mention all of your disappointment about this to him. Off to some town hall meeting for 'women only' that he is having here in Denver this afternoon...

I wonder why he is doing the 'woman thing' and not Palin at a later date?

Your favorite format Calabrio...

Then it is the debate - Sushi, Sake and Political S@#t. We liked your idea of drinking games Calabrio - so since we are a mixed group - it will be interesting to see who gets to take advantage of who later in the evening. Dems have to drink when Biden claims quotes are his own, and to be fair, when he gets history wrong (TVs, FDR, '29 - hahahahaha). And the Reps have to drink when Palin mentions Alaska and Russia within 2 sentences, and whenever she gets that blank look or says "I'll have to get back to you on that..."

 

[fossten]

I'd love to join you guys in a running debate thread, but I have another engagement...

The World Series of Poker is in town, which means the outer cash tables will be filled with...shall we say...those who are easily divested from their fundage.

I'm off to oblige them.

I'll commiserate with you guys about the badly moderated debate tomorrow. Have a good one!