McCain Urges Bush To Spend $1 Trillion On Bailout -- Without Congressional Approval

I'm not making this up. John McCain today urged the Bush Administration -- on more than one occasion -- to immediately and uniliterally spend $1 trillion buying up home mortgages.

I was watching live when he made the proposal this morning, and it seemed like such a staggeringly insane idea that I assumed he couldn't be serious. He couldn't think that Bush should just spend $1 trillion without asking Congress for permission...could he?

But then I saw his economic adviser try to back the idea up, and then I saw McCain make the proposal again during the NBC Nightly newscast. So he's serious. He really thinks that Bush should just spend $1 trillion without talking to Congress, without seeking approval, without building any sort of consensus -- without getting any protections whatsoever for taxpayers.

Update: Here's video of him making the proposal on three separate occasions Tuesday.

End update.

::: ::: :::

This is the same John McCain who just a couple of days ago was railing on the $1 trillion price tag of the bailout (when it was actually $700 billion).

But just a few days after railing against the unbridled power of government, McCain now seems to envision the presidency as a dictatorship. He now thinks that Bush should just spend $1 trillion without allowing anyone to ask any questions -- and he supports doing it just one day after the House of Representatives voted down a $700 billion bailout.

This won't suprise anyone on the left. The question I have is this: when are conservatives going to wake up and realize that despite all his bluster about being a conservative, the Republican nominee for president has proposed the single largest expenditure in the history of this nation -- and that he's proposed that it be made without the approval of Congress?

Comments

[kusellout]

I hate the cost of the bailout as much as anyone else, maybe even more considering I am a young American and stand to inherit a larger percentage of the tax burden than older folks. However, McCain consistently argued for more regulation, but Democrats like Barney Frank and Maxine Waters refused. Mr. Frank has certainly changed his tune now! You can see the facts at:

http://www.bideau.com/scott/wordpress/?p=13

[Mujokan]

Did Sarah Palin finally get back to you?

The only thing he backed was more GSE oversight, and that was blocked by Republicans until the Democratic Congress.

[Everybody Should Vote]

Oct 1 Polling Update
http://voteforamerica.net/editorials/Comments.aspx?ArticleId=83&ArticleName=Poll+Update

A New Republic..­.an Party
http://voteforamerica.net/editorials/Comments.aspx?ArticleId=82&ArticleName=A+New+Republic...an+Party

Will McCain Re-suspend his Campaign?
http://voteforamerica.net/editorials/Comments.aspx?ArticleId=80&ArticleName=Will+McCain+Re-suspend+his+Campaign%3f

Obama 339, McCain 199
http://voteforamerica.net/electoral.aspx

[WritusMaximus]

I guess McCain has jettisoned out the window his previous "save the taxpayers' money" mantra.

[nellie]

How can anyone support McCain? It's impossible to know what he stands for. Because he changes his stance daily.

Anyone supporting this man has some other reason than political. Because politically, McCain has no identity.

[booker52]

For a Senator who claims he doesn't do earkmarks, this one would be a hellva one. Has he lost all sense of reason?? Yes, I guess he has. They ought to send him to the home without delay, do not pass go, do not collect one trillion dollars!!!

[JCB360]

You have got to be kidding me? McSame is WORST than bush! I started thinking this a while ago, but this solidifies my case. He would be worse then bush and just do things unilaterally that he wanted to do and further distance the Presidencey from the Constitution.

Wake up America!

If you support Barack Obama and Joe Biden visit

www.republicansareliars.com

[tigerakabj]

I second that. I realized back in August that Obama was wrong -- McCain is not the same as Bush, he is worse. I am increasingly thankful that McCain did not win back in 2000. If we thought the last 8 years were bad under Bush, imagaine what it would have been with McCain as president.

All the more reason why we have to fight for every vote b/c this man is becoming more desperate by the day. I have a feeling that he will get so bad that he is going to be the October surprise we have all been expecting (Bush can't do anything we won't expect, he's already done it all i.e. Iraq war, torture, etc.).

[8IZENUF]

Nice Website! I sent to all my friends in Utah

[bayside]

This is what a man that was 4th from the bottom in education thinks..We know how they think we have one in office right now..

[bpowell1]

The reality of this situation is no one in the house nor congress wants to take credit for this bill. None of them want to pass this bill. They all would love if Bush did that so then they can blame everything on him. I am no Bush fan, but, I think they need to explain this to the American people and also take their time and really look at this from every angle. Don't be in such a rush to do this. Analyze the situation.

[nellie]

The performance of the market yesterday, regaining most of what it lost on Monday, really validates your point. If this is such a crisis, then the public needs to hear more about specific provisions in this bill, and we need to hear why the bailout will fix the problem.

It seems that the banks are withholding credit, trying to force the hand of congress and panic the public. If the bailout targets the real source of the problem—the mortgage defaults—with relief for the borrowers who were scammed, maybe congress would see more public support.

[cvarner]

No one may want it, but the Dems managed to set that aside and actually vote for it because they believe it's good for the country.

If by "no one", you're talking about the President's party, McCain's party, the guys who created & implemented the problems, sure. Cause, you know, they're philosophical and all...

[poco767c]

http://www.superpoop.com/092508/american-financial-system.jpg

McCain policy in a nutshell

[PT6]

****DELAY PASSING UNTIL AFTER ELECTIONS WHEN WE HAVE MORE CONTROL****
**********­**********­******THIS IS NOT THE OBAMA PLAN!*****­**********­**********­*********

"NO TAXES FOR RICH FOR TWO YEARS!" WHAT "COOKS"

REPUB "COOKS" ARE GOING TO PAY ZERO TAX MONEY FOR NEXT TWO YEARS
WITH NO STRINGS ATTACHED - THIS WILL COST FAR MORE THAN $700 BILLION!
WITH NO CONTROLS

VOTE NO PLEASE VOTE NO!


Tom Delay the old Repub House Leader said he wants the CAPITAL GAINS TAX REDUCED TO ZERO FOR TWO YEARS!

That would be the BIGGEST BAILOUT IN OUR HISTORY!

IT WOULD MAKE THE $700 BILLION LOOK LIKE A peanut!

ANOTHER REPUB TAKE FROM THE MIDDLE CLASS!

OBAMA CAN KISS HIS PACKAGES GOODBYE!

DON'T LET THEM DO THIS!

TO HECK WITH THE HOUSE REPUBS!

[Grunty1]

Doesn't understand the economy.
Doesn't understand foreign policy
Doesn't understand the Constitution
Doesn't understand the law of the land.
Doesn't even understand how many houses he owns.


Is there anyting McCain DOES understand?

[wizardofoz]

YEAH GRUNTY how to spend mamas money.

[TotobiAyokoh23]

This McCain guy is very ancient. This proposal is tenable only in the aristrocratic fiefdoms of bygone centuries. America be afraid, very afraid.

[SurrealPumpkin]

McCain=Bush. Any questions anyone?

[IMD]

Is this a final grand act of giving his party the finger for dissing him repeatedly over the years... is he deliberately trying to lose this election? Given his infamous history of cut-throat pay-backs, I really wouldn't put it past him, and at least on that note, his personal "surge" will have worked beyond his wildest dreams.

[ebanks84]

Just to look at his face every day is enough to make me not vote for him including all the other reasons. This man has no shame. He don't give a good cahoot how anybody feels about him at this point, so he's going for broke. How selfish and egotistical can any one person be.

[sparafucilli]

This guy is unhinged. George Will is wrong. McCain is even further gone than George thinks (unless of course George was probably just being charitable). I hate to say it but it seems to me that the time he spent under great stress as a POW may be causing him to react so inconsistently when put under stress today.