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April 11, 2008

Did I say 'little' Fed intervention? By 'little', I meant: 'Lots'. [krakatoa]

I for one, am not the least surprised at this turn of events from John McCain (r - McCainland)

Last week, JMac offered up base populism but he still managed to recommend restraint from the government:

In a speech March 25, he said: "It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." He also said that any assistance shouldn't "reward people who were irresponsible at the expense of those who weren't."[emphasis mine]

In following interviews he had more to say:

[H]e said he supported a more limited bill with widespread support in the Senate offering new tax breaks for home builders, financial counseling for home owners and money for local communities to buy up foreclosed properties.

Earlier, on Fox News Sunday, Sen. McCain said: "I understand the challenges and I'm prepared to meet them. And that is limited government intervention."[emphasis mine]

This week, the wheel turns inevitably to the Left:

John McCain called for an aggressive federal government role aimed at stabilizing the housing market, rejecting a largely hands-off approach he outlined two weeks ago...

Sen. McCain's speech also was notable for negative comments about Senate legislation he had spoken favorably about last weekend.

This really steams me (and yes, Bush's response steams me as well). About 3 years ago I bought my first house, and instead of getting an ARM and enjoying 500/month, I did the responsible thing, got a fixed 30 year at 6.2% and am paying just north of 900 a month.

So now I figure, might as well refinance and enjoy the latest rate cuts. Anyone been checking out the interest rates lately looking for a refi? You'd think with the Fed cutting rates, maybe mortgage rates would drop too. You'd think wrong, bub. The banks and the Fed are depending on the responsible people to bail out the banking industry's mistakes.

So, anyone care to make any predictions on which way he'll lean in the next 2 weeks?

Thursday's speech was intended to outline the Arizona lawmaker's ideas for short-term economic fixes. Next week, he plans a broader address detailing his long-term economic vision, including energy independence, job creation and growth.

Warning: Bloviating after the break.


I've asked die-hard McCain supporters many times before and received no response: At what cost would a vote for the Maverick be too high? On a whole raft of issues that seem to grow daily, he moves the conservative plank so far to the left as to be essentially indistinguishable from his Democrat opponents.

Is the war the only issue (don't get me started on single-issue voters), and if so, if Iraq stabilizes in the next few months, would you be willing to sit back and let a (D) president take office rather than have a McCain presidency that changes the definition of Conservatism?

Or is it just too horrible to contemplate that we might have a keystone cops-esque (D) White House that might or might not be able to pass the same types of bills that McCain is so eager to pass himself?

I had my Road to Damascus moment after Fred dropped out and I came to the realization that for now, the Republican party is a party for itself first; for its name in bright lights and all the bragging rights to go with that; and if a few of its principles get steamrolled on the way, that's ok because, well... fuck principles, that's why.

I'm not going to try to convince any of you to not vote for McCain, but I am truly puzzled that so many believe this election so vital that you are willing to take amnesty, weak borders, big government, Global Warming trutherism, no viable alternative energy (unless he's come out in favor of Nukes that I missed), 'moderate' judicial appointments (anyone here be happy with another John Paul Stevens or three?)...

What conservative or even Republican values (that are likely to be legislated upon in the next 4-8 years) does he stand for again? I hear he's pretty queer for the military and I haven't heard him dis the 2nd amendment yet, so I suppose that's something.

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posted by xgenghisx at 01:36 AM

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