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Former McCain Adviser Admits Bailout Support a Strategic Blunder
businessandmedia.org ^ | November 20, 2008 | Jeff Poor

Posted on 11/20/2008 6:44:58 AM PST by Rufus2007

As it turns out, swaying from conservative principles doesn’t always pay off for a Republican presidential candidate. Sen. John McCain learned that lesson that hard way.

Douglas Holtz-Eakin, a senior policy adviser to McCain’s failed campaign, said Nov. 19 that McCain’s support for the $700 billion bailout of the financial sector was the “key strategic blunder of the entire campaign.”

“We also make mistakes,” Holtz-Eakin told a group of conservatives at The Heritage Foundation in Washington, D.C. “There’s no doubt about it--20/20 hindsight. I think the key strategic policy error of the entire campaign, that is mine, is believing that the bailout bill would help.”

...more (w/audio)...

(Excerpt) Read more at businessandmedia.org ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: bailout; election; holtzeakin; marines; mccain; mccaintruthfile; moneylist
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To: Ann Archy

I doubt it, since she never spoke up in favor of it and couldn’t oppose it without undermining the campaign (apparently, McCain staffers had all the shovels).


61 posted on 11/20/2008 7:46:13 AM PST by Doohickey (The more cynical you become, the better off you'll be.)
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To: spacejunkie

It was a republican....Chris Cox, head of the SEC.

and then Andrew Cuomo to replace him! hey at least he didn’t name Eliot Spitzer.


62 posted on 11/20/2008 7:46:18 AM PST by ari-freedom (So this is how Liberty dies... with thunderous applause)
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To: Rufus2007
“We also make mistakes,” Holtz-Eakin told a group of conservatives at The Heritage Foundation in Washington, D.C. “There’s no doubt about it--20/20 hindsight."

Hindsight!? Pfffffttttt... Why don't these policy experts log into FreeRepublic once in a while? How hard would it be for them to actually get a measure of the people's sentiments on such issues regarding VOTERS! Sheeze...

63 posted on 11/20/2008 7:47:45 AM PST by avacado
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To: Condor51
In English, he was the worst GOP candidate since sliced bread was invented.

You know, I had to think about it a little, but McCain was worse than Bob Dole.

64 posted on 11/20/2008 7:48:07 AM PST by Eddie01 (Telling it like it is since "revolver" was released)
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To: Eric in the Ozarks
I think had John McCain suspended his campaign and returned to Washington to announce his opposition to the bailout, we would be looking forward to his inauguration in January.

I don't think that would have been nearly enough to overcome the tsunami of American stupidity this time. Too many people wanted to believe Saint Barack was coming down the chimney with presents for everyone.

65 posted on 11/20/2008 7:49:49 AM PST by Mr. Jeeves ("One man's 'magic' is another man's engineering. 'Supernatural' is a null word." -- Robert Heinlein)
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To: Rufus2007

So, what this is saying is that McCain doesn’t stand on principle? Or that maybe his was standing on principle? Or that McCain needs other people to tell him what to think? Most likely there wasn’t any principle involved at all; the political tea leaves were just misread.


66 posted on 11/20/2008 7:50:00 AM PST by Doohickey (The more cynical you become, the better off you'll be.)
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To: ari-freedom

First presidential election you’ve followed?


67 posted on 11/20/2008 7:50:31 AM PST by 1rudeboy
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To: ari-freedom
I don't believe that..if you read the posts of folks who acvtually saw her in person and heard hew words you will conclude that she was personally opposed but played the good soldier to the political loser we had at the top of the ticket. Furthermore, just knowing her philosophy of government would make one conclude she was not buying that bit of of socialism
68 posted on 11/20/2008 7:50:43 AM PST by mick
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To: Sans-Culotte
"McCain simply looked foolish when he suspended the campaign, flew to Washington, and accomplished...nothing."

It was a huge Drama Queen moment for McCain.


69 posted on 11/20/2008 7:50:59 AM PST by avacado
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To: 1rudeboy

no....if Bush could handle the media and win 2 elections then certainly mccain, who has kissed up to them for years...


70 posted on 11/20/2008 7:54:06 AM PST by ari-freedom (So this is how Liberty dies... with thunderous applause)
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To: KarlInOhio
He would have been better off if he had been completely for the bailout. He would have been better off if he had been completely against the bailout. He would have even been better off if he had ignored the bailout. Instead he just looked panicky and innefective.

He was losing ground rapidly as this trumped up "Oh no! If we don't do something immediately the whole economy will collapse!" theme penetrated the culture. Treading water wasn't good enough, the issue was dragging him under. He needed to do something to make voters see him as decisive in the face of a crisis.

His solution was to cancel his campaigning with great fanfare and then, as you point out, accomplish nothing other than support a bill that Obama also supported and 80% of the country didnt. The issue was dead with voters after that, the two were the same but Obama seemed less silly.

McCain wanted to gamble on a game changing moment but then he didnt change the game! Had he come out and said the bailout was unconstitutional and he refused to support it he would have had an issue to go directly against Obama on, a clear contrast. But, he's McCain. The squishy safe middle is where he lives.

71 posted on 11/20/2008 7:55:47 AM PST by pepsi_junkie (Often wrong, but never in doubt!)
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To: ari-freedom

LOL


72 posted on 11/20/2008 7:56:28 AM PST by 1rudeboy
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To: mick

It comes from what she said during the Hannity interview (I assume everyone can agree that she had a fair chance with hannity). I posted part of it in post #55


73 posted on 11/20/2008 7:56:48 AM PST by ari-freedom (So this is how Liberty dies... with thunderous applause)
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To: Rufus2007
My representative in congress was reelected because she listened when I asked her not to vote for that bailout. A more emphatic message to John McCane had the opposite result.

What do you think we can attribute the difference to?

74 posted on 11/20/2008 7:57:10 AM PST by An Old Man (Lead, Follow, or get the hell out of the way)
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To: Ann Archy

CBS 9/17/08 re Palin: “Disapointed that taxpayers are called upon to bailout another one,” she said. “Certainly AIG though with the construction bonds that they’re holding and with the insurance that they are holding very, very impactful to Americans so you know the shot that has been called by the Feds its understandable but very, very disappointing that taxpayers are called upon for another one.”

For the big FM/FM bailout, IMO, she was muzzled by her ‘partner’.


75 posted on 11/20/2008 8:00:43 AM PST by polymuser (Bye, bye Miss American Pie.)
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To: Eric in the Ozarks

Ditto!


76 posted on 11/20/2008 8:01:19 AM PST by Prov3456
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To: 1rudeboy

Newt literally had to deal with the starving babies because of welfare reform. And he pulled it off.

But all the real lefties were against the bailout. Even Dennis Kucinich complained about how the government was now picking winners and losers in the private sector.


77 posted on 11/20/2008 8:01:41 AM PST by ari-freedom (So this is how Liberty dies... with thunderous applause)
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To: Eddie01

If the GOP had run a genuine conservative, that candidate would probably have picked a RINO running mate, and Sarah Palin would still be toiling away in obscurity in Alaska.

The GOP may be thankful to McCain for that much.


78 posted on 11/20/2008 8:01:57 AM PST by Loyalist (Tory! Tory! Tory!)
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To: wmfights

They’re drinking a drink called “power,” “influence,” and “being invited to all the ‘right’ parties.”


79 posted on 11/20/2008 8:04:46 AM PST by Prov3456
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To: Mr. Jeeves

It might have been the spark to set off more than we think. I read that phone calls into the DC switchboard were 90 percent opposed.


80 posted on 11/20/2008 8:05:01 AM PST by Eric in the Ozarks
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