iOS app Android app More

Jim McKay

Jim McKay

Posted: September 27, 2008 03:33 AM

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.

Follow Jim McKay on Twitter: www.twitter.com/wabisabi