Posted on 09/24/2008 11:52:13 AM PDT by Qwackertoo
Edited on 09/24/2008 12:11:21 PM PDT by Admin Moderator. [history]
John McCain announced that he will suspend his presidential campaign on Thursday to return to Washington to help with bailout negotiations. He urged his opponent Barack Obama to do the same.
The Arizona senator also asked the Presidential Debate Commission to postpone Friday’s scheduled debate with Obama so that he can work on the financial crisis bailout plan now on Capitol Hill.
“America this week faces an historic crisis in our financial system. We must pass legislation to address this crisis. If we do not, credit will dry up, with devastating consequences for our economy. People will no longer be able to buy homes and their life savings will be at stake. Businesses will not have enough money to pay their employees. If we do not act, ever corner of our country will be impacted. We cannot allow this to happen,” McCain said.
Carl seemed a bit skeptical when Major Garrett mentioned Obama's claims that the Obama team called McCain this morning and suggested a joint statement. Garrett said it took about 15 calls to the Obama campaign to even get a response to McCain's comments.
Fox is still waiting for an official statement from Obama. The White House has already released their statement in support of McCain's comments. Barry is still MIA at his Florida hotel room.
That's probably coming. And then Obama will look like a complete misogynistic butthead when he refuses.
Ummm... Why? It could be a terrific political move. "Country First"
When this gets out, people will see Obama taking the high ground, and McCain making a slick political move.
NOT GOOD. Whatever happened to the honorable MCcain that we might have disagreed with, but still admired?
So why didn't Obama take the initiative and go to Washington first...?? It was really his idea, right...?
Remember when the Obamatrons tried to accuse McCain of "cheating" at the Saddlerack forum...? That's when you knew that even the Obama camp realized McCain had trounced the "Annointed One".
McCain should offer to send in Sarah to debate Obama on Friday AND Biden Oct 2, just to show how tough she is.
Yup...reminds me of the Palin Iran speech....she was willing to go and stand with the other side.
I hear the teleprompter supports a federal capital gains tax holiday. I am interested to hear its proposal.
The capital gains tax holiday is a good idea. One other notion that I haven't seen talked about--why not let banks with huge losses transfer those losses to entities (not just banks but any corporation) that have huge gains? The bad banks get a HUGE injection of capital, and taxpayers don't have to directly fund their survival. The indirect cost is a loss of income to the treasury, but that is better than actually printing money from the treasury to the banks, and the benefits to the macro economy will increase tax revenue.
So, Exxon pays $10b to WaMu for its $20b of losses, coming out even at its 50 percent marginal rate. Wamu is swimming in new capital, Exxon comes out even, and the treasury is out $10b in possible tax revenue, but doesn't have to buy WaMu's bad loans, or own a bunch of foreclosed properties. Has this been discussed, or is it not an option for some reason I haven't thought of?
I'm betting that 65% will say that the teleprompter won the debate with O'bama.
The economic future of our country is very much at stake right now. Unless we get a grasp on the situation quickly, we could be headed for another Depression.
I applaud McCain for doing this and pray he and all our leaders are granted great wisdom in dealing with the situation.
No.
He saw it as a way to outflank Obama on the only issue Hussein has.
McCain is up in the Battlegound states, and is going for the jugular.
Waited too long in the thread to see the above...but better late than never...Senior Statesman McCain showing Obama the way! (if necessary, the driveby media will poke fun at McCain, and cover for Obama, MIA as usual)
.........McCain (Leader)..vs....Obama (can't even follow)
2006 FNMA/FRE repair
bill..... cosponsor.......vs.....'NO' (or was it present)
Surge.......YES...........vs.......NO
McCain 2
Obama 0
BS
Yeah—sort of like masturbation. He’ll get some passing pleasure from it, but nothing meaningful will happen. That’s about right for Onada.
Personally, I don’t think Onada is smart enough to figure out what happened. His first response was no doubt: “Oh good. McCain just quit campaigning. I’ll win.”
Then his campaign manager will stick the pin in his hot air balloon. Anybody wanna bet Onada sends somebody out to whine about McCain not playing fair.
Onada and his folks have to be lurching around like the cockroach that just got a dose of Raid. I can’t wait to see Onada’s face when he responds. I don’t watch Hannity and Colmes much. But I can’t wait to get a load of Colmes tonight. How high do you think his left eyebrow can go?
Leadership or pointless showboating? There will be some who see it both ways. I personally don’t see the benefit of calling additional attention to this financial situation, and I don’t think McCain should be trying to rush it along.
Whatever number of level heads we have in Congress need to take a closer look at it and understand who’s benefiting and who’ll be paying the price for the bailout, and make some modifications if it can be improved. All indications are that a plan will be passed, and McCain’s trying to force it looks a lot like showboating.
LoL! Yeah, it appears so. He's spinning fast. Time for him to waffle and flip flop.
No comparison.
This debacle has the **potential** to rival the Great Depression if not dealt with immediately.
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