In the last presidential debate, John McCain threw out a populist bomb right out of Liberal Land--A mortgage rescue plan that calls for the government to pay full face value for troubled mortgages on properties that are now worth less than the loans. What!? When I first heard McCain utter his proposal I thought that I had misunderstood him but that is not the case. It seems that some liberal groups have actually praised McCain’s idea which has immediately raised the ire of fiscal conservatives everywhere.
I wish McCain would just stick to fiscal conservative principles and just stop worming his way towards a populist center-left which is already occupied by Obama. There should be no doubt that we are experiencing a massive systemic change in America's financial and economic paradigm. This is the moment that Progressives have been waiting for--a moment of financial weakness to pounce on with leftist propaganda and to send us into even more crony-capitalism and corporatism. McCain should be the maverick that he claims to be and rage against the machine.
3 comments:
Exactly. I've been reading Atlas Shrugged, and it's scary some of the similarities between that world and our own modern world. Particularly when it comes to having "friends" in Washington.
Hi VH,
I, too, was hoping he misspoke. unfortunately, he didn't. That idea, difinitely is a bad one. Hope he'll reverse his stance on it.
Have a good weekend,
Tasha
Sadly, it's either a desperate ploy to compete in the campaign (likely, but knowing McCain not the only explanation), or he really believes that plan will help. I suspect the latter, which demonstrates his pathetic lack of understanding of economics and a worse understanding of morality.
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