McCain chimes in on bailout/mortgage crisis

And he proved again that he has no idea what he’s talking about. Restating the obvious (“there was a crisis of confidence” and “lenders were too lax”) is all fine and good but the fact remains that McCain’s top economic guru is Phil Gramm, retired Senator who helped to set up this sticky situation when he was in the Senate. McCain also tells his right wing guests at the Orange County fund raiser that he will “not allow dogma to override common sense” but let’s be straight about who is on his economic team.

They are all pro-business let-business-self-regulate types. They all talk a big talk about controlling spending but when they had the chance with control of Washington, what were the results? How much cutting did they do then? Why should we suddenly believe them now? The record is quite clear that they can spend as well as anyone. When they talk about cuts, they’re actually talking about cuts for programs that most people want but heavens no, it’s not possible to cut corporate welfare. Oh no, that’s just not possible. How else will corporate America be able to afford lavishing riches upon the business leaders? Maybe it’s time corporate America starts to show a little interest in joining the cause of cutting back.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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