McCain Would Freeze Federal Spending While Giving Wall Street $700 Billion

I haven't heard anyone say much about this yet, but during Friday night's debate, Senator McCain somewhat offhandedly said "Sure," he would vote for the Wall Street bailout despite its price tag of $700 billion.

To pay for the Wall Street rescue, he cavalierly suggested the idea, "How about a spending freeze on everything but defense, veteran affairs and entitlement programs?"

So much for needed investments in infrastructure, children's programs, social services, employment programs, alternative energy, food safety, environmental protection, law enforcement, etc.

As President, John McCain would freeze spending on those essential programs indefinitely while Wall Street companies get billions of taxpayers' dollars along with another $300 billion in tax cuts that he proposes for the wealthy.

I agree that we probably need to do something with the Wall Street crisis, but McCain's choice to sacrifice worthwhile programs that help thousands of Americans and keep us all safe on the altar of the free market is a very bad idea.

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Comments

[scott89460]

Today on "Meet the Press" both Portman and Corzine agreed that a big part of the economic problem is that banks, businesses and individuals are fearful, and therefore tight with their money, and this causes a downward movement in economic activity.

The solution was to get banks, bussinesses and individuals to have more confidence, to spend more money, and increase economic activity.

Then Portman refered to John McCain's federal government spending freeze. He didn't seem to make the connection. I would think this would be obvious to Dems, but I haven't heard anyone comment on yet.

[Indtxwm]

Well what do you expect him to say. He doesn't have a clue how the economy works; what it takes to keep it going.

I have an Idea.... why don't he donate all the money has had made to help get us back on tract :). Works for me.