Wednesday, October 8, 2008
John McCain proposed that government use $300 billion dollars of the $700 billion dollar bailout package to buy up bad mortgages and re-negotiate these mortgages so homeowners who would otherwise face foreclosure would be able to stay in their homes. This was one of the first things he talked about in the debate last night, and it is something that conservatives should not be happy about. For obvious reasons, this is something that liberals have pushed for a long time. It is a step away from Conservatism towards Liberalism. I can understand how he would lean towards ‘bailing out’ homeowners instead of bailing out large corporations, but that is not the bill he voted for. The bill he voted for does not include this provision. We need people in Washington who will speak up about the changes they would like to see in a bill BEFORE they approve the bill. If you are a “conservative” who is going to approve a bailout bill (I don’t see how you can call yourself a conservative when you vote for a bill with such huge tax implications for the taxpayer) you would think that this idea would be brought up and debated before it is approved. I am calling out McCain on this one, even though his support of the bailout is cause enough to be unhappy with his economic policies.