McCain Hesitates as Bernanke Revives Stimulus Debate (won't commit one way on another)

[maddezmom]

Source: Bloomberg

Oct. 21 (Bloomberg) -- John McCain is withholding endorsement of another economic stimulus package for the sagging U.S. economy, giving Barack Obama a fresh opening to attack him on the top issue in the presidential campaign.

With two weeks until Election Day, the idea -- advanced by Obama and other congressional Democrats -- that lawmakers should enact legislation to boost the economy gained traction when it won support from Federal Reserve Chairman Ben S. Bernanke and the Bush administration said it is ``open'' to proposals.

McCain, though, wants to wait to see the impact of the $700 billion financial rescue plan passed earlier this month, his top economic adviser said.

``He looks forward to any proposals and would evaluate them on their merits,'' Douglas Holtz-Eakin said today in an interview. He said the best way to stimulate the economy is McCain's plan for the government to purchase troubled mortgages.



Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aweCO7t.r6Cw&refer=home

[2QT2BSTR8]

1. Chicken s@#t!

He should just say, I want to see IF I win the election,(which he wont) so my fatcats can get fatter or not. I said it before, and I will say it again. When I lived in AZ 10+ years ago, I really did admire McCain at times. He has become quite the hypocrite in this GE though! What a disappointing end to his career.

[HeraldSquare212]

McCain has said repeatedly in speeches that additional spending would be unwise

and that he would fight it, since we've already added so much to the debt. Translation: Wall St. got all the money, sorry!

[Kalifornia.Kid]

2. Phil Gramm was busy in the bathroom

[PSPS]

3. It's kind of a stupid idea anyway

First, as for McCain's "hesitation," he's just waiting to see how Obama reacts so he can mimic it. That's been him modus operandi in the campaign.

Second, while doling out money in paltry "stimulus checks" may help some people get through another couple of weeks or a month, it isn't exactly sound economic policy to simply borrow money from China to send everyone a few hundred dollars. What's needed is more living-wage jobs, a modern-era WPA, along with a rational tariff policy so our country can begin making things again.

[MurrayDelph]

4. He's going to wait until a decision is made,

and then take credit for the decision.

(or denounce it, depending on which way the wind is blowing).

[Supersedeas]

5. maybe he should suspend his campaign again TO THINK IT OVER

[radfringe]

6. mccain should be against this (sarcasm ahead)

why is mccain hesitating? It's obvious any stimulus package where the government hands out money in this manner is nothing more than "spreading the wealth".

the government helping people is "socialism"

the government buying troubled mortgages is "socialism"

turning the treasury into a ATM machine is "socialism"

the government bailing out corporations is "socialism"

Democrats want to pump billions of dollars into the economy, largely by jump-starting construction projects such as road and bridge building. They also say a government boost to consumer spending through expanded unemployment benefits and more help to the poor to pay for food and heating costs would get money into the economy quickly. States hard-hit by the rising costs of health care could get some help from a Democratic stimulus plan too.
http://www.reuters.com/article/vcCandidateFeed2/idUSTRE49K7PZ20081021?pageNumber=3&virtualBrandChannel=10112&sp=true

---end sarcasm---

mccain is waiting to see what obama would endorse/propose and then will come out against it. For the moment mccain seems to be siding with bush......again

White House: 2nd Economic Stimulus Not Likely
By VOA News
21 October 2008
http://voanews.com/english/2008-10-21-voa69.cfm

U.S. President George Bush will not press ahead with a second economic stimulus package, despite suggestions it could stop the country from sliding into a prolonged slowdown.

White House spokeswoman, Dana Perino said Tuesday the president is open to all good ideas, but that officials have not seen any new proposals that would give the economy a boost.