McCain wants to spend $300 billion to buy up bad mortgages; Martin Feldstein behind it
Scroll down for updates…McCain’s April 15 remarks added below…Economist Martin Feldstein pitched the plan in the WSJ…see response below…
I can’t underscore enough what a rotten idea John McCain’s ACORN-like government mortgage buy-up is. I said it during my liveblog. And I’ll say it again: “HE WANTS TO EXPAND THE BAILOUT. He wants to do what ACORN wants to do. We’re Screwed ‘08.”
This was his supposed “game-changer.” This was the very first thing out of his mouth during the debate tonight — his big pitch right off the bat. The McCain campaign immediately sent out this fact sheet on the proposal, which will cost at least $300 billion. The proposal involves directing the Treasury Secretary to “purchase mortgages directly from homeowners and mortgage servicers.” That’s on top of the trillion-dollar crap sandwich (update - McCain says it would be included in the crap sandwich), the $85 billion to AIG, the $25 billion to automakers, the $200 billion in capital and credit lines to Fannie and Freddie, and who knows what else we’ll be forking over to California, Massachusetts, etc., etc., etc.
He spent the entire debate assailing massive government spending — while his featured proposal of the night was to heap on more massive government spending to pursue home ownership/retention at all costs. If Obama had proposed this, the Right would be screaming bloody murder about this socialist grab to have the Treasury Department renegotiate individual home loans and become chief principal write-down agents for the nation.
As I put it this morning: “Getting credit is not a constitutional right. Preserving home ownership should not be a government imperative to be pursued at all costs. Neither should foreclosure prevention at all costs.”
Read and weep:
AMERICAN HOMEOWNERSHIP RESURGENCE PLAN
John McCain will direct his Treasury Secretary to implement an American Homeownership Resurgence Plan (McCain Resurgence Plan) to keep families in their homes, avoid foreclosures, save failing neighborhoods, stabilize the housing market and attack the roots of our financial crisis. America’s families are bearing a heavy burden from falling housing prices, mortgage delinquencies, foreclosures, and a weak economy. It is important that those families who have worked hard enough to finance homeownership not have that dream crushed under the weight of the wrong mortgage. The existing debts are too large compared to the value of housing. For those that cannot make payments, mortgages must be re-structured to put losses on the books and put homeowners in manageable mortgages. Lenders in these cases must recognize the loss that they’ve already suffered.
The McCain Resurgence Plan would purchase mortgages directly from homeowners and mortgage servicers, and replace them with manageable, fixed-rate mortgages that will keep families in their homes. By purchasing the existing, failing mortgages the McCain resurgence plan will eliminate uncertainty over defaults, support the value of mortgage-backed derivatives and alleviate risks that are freezing financial markets.
The McCain resurgence plan would be available to mortgage holders that:
· Live in the home (primary residence only)
· Can prove their creditworthiness at the time of the original loan (no falsifications and provided a down payment).
The new mortgage would be an FHA-guaranteed fixed-rate mortgage at terms manageable for the homeowner. The direct cost of this plan would be roughly $300 billion because the purchase of mortgages would relieve homeowners of “negative equity” in some homes. Funds provided by Congress in recent financial market stabilization bill can be used for this purpose; indeed by stabilizing mortgages it will likely be possible to avoid some purposes previously assumed needed in that bill.
The plan could be implemented quickly as a result of the authorities provided in the stabilization bill, the recent housing bill, and the U.S. government’s conservatorship of Fannie Mae and Freddie Mac. It may be necessary for Congress to raise the overall borrowing limit.
Read that last paragraph again. He would enact this new spending plan using the authorities provided in the stabilization bill — the same ones I reported on in my special column for the NYPost today championed by Obama’s friends at ACORN.
It’s a great idea…for everyone who bought overpriced homes with Adjustable Rate Mortgages. Those who rented or bought within their means or locked into fixed-rate loans that they can afford are out of luck, naturally.
Question: Will he propose a similar plan for those who bought mutual funds at or near the market top?
Dude, where’s their bailout?
***
Stephen Spruiell gives thumbs down:
Yeah… didn’t Congress just enact major legislation to address this problem? The Housing and Economic Recovery Act of 2008 created a federal mortgage-insurance program for lenders who agree to reduce mortgage payments for struggling borrowers.
How is McCain’s plan different? I’ll try to explain. Let’s say you have a $200,000 adjustable-rate mortgage. Your home’s value has declined, your interest rate has gone up and you can no longer afford to make the payments. Under current law, the government will guarantee your mortgage if your lender agrees to work out a deal with you.
Under McCain’s plan, the Treasury Secretary would buy your mortgage from whoever owns it and then deal with you directly. In many cases, the Treasury Department would already own your mortgage, because it is about to buy up $700 billion worth of mortgage-backed securities. But under McCain’s plan, Treasury would also become your loan servicer…McCain’s plan is redundant, and it would create significant new responsibilities (and costs) for an already-beleagu[e]red agency. I’m not sure what the campaign was thinking.
Let me repeat what I said about this plan in my ACORN column, because every word applies to McCain:
This will radically expand the federal role in meddling with mortgage loans. The key sections mandate that the Treasury “consent” to rewriting loans to prevent foreclosures - not only by reducing interest, but also by cutting loan principal.
Stuck with a $300,000 mortgage you can’t pay? Get the government to wave its magic wand and cut your debt to $150,000.The deal is only for those who have fallen behind on their mortgages, of course - not for all you chumps who’ve been paying on time.
And it’s a good bet that ACORN mortgage counselors will “help” decide which distressed borrowers benefit, and how.
The group’s housing arm, the Acorn Housing Corp., is already funded with millions of taxpayer dollars to renegotiate loans for low-income people who should have never received them in the first place. Loan modification is ACORN’s bread and butter.
And when the group doesn’t get what it wants, it will sue, protest and shake down until business and government bend again.
Rep. John Culberson (R-Texas) foresees havoc: “Liberals who manage these programs will give away millions of free or reduced homes in neighborhoods all over America to families who could not otherwise afford them.
“The federal government now has the power to create federal housing projects, house by house, in neighborhoods all over America. Just imagine what that means for property values and the safety and security of your neighborhood.”
All this comes on top of the $5 billion ACORN-backed housing bill passed in July, which hands $600 million-plus to ACORN and similar groups to bail out homeowners under water and help countless more risky loan prospects.
During the floor debate on Friday, Reps. Frank and Waters assured Democratic colleagues that they had personally lobbied Treasury Secretary Hank Paulson on these measures and would press him to consent to “do the kind of loan modifications we’ve been urging.”
Waters exulted: “We’re in charge! . . . We own them now.”
If the banks and others that collect payments on these distressed mortgages don’t write down enough loan principal to keep Rep. Frank happy, he threatens hearings and new legislation next year.
He’ll have the backing of ACORN. ACORN President Maude Hurd warns that her “members plan to hold Secretary Paulson accountable and ensure he uses this authority to make streamlined loan modifications a priority for struggling American families.”
What’s next? Principal write-downs on credit cards and car loans? What incentive do responsible borrowers have left to pay their bills on time?
***
Commenter astonerii adds: “It does not matter whether it is on top of the current $700,000,000,000.00 bailout. It is the simple fact that McCain thinks that house prices need to be stabilized by government mandate . That the government has any business at all to do with the price of a home. That the government’s duty is to keep people in their overpriced homes. That the government should discriminate against non home owners by helping establish home prices that are outside the range of many if not most people who work near where the homes are located. The government is not the economy, unless you are communist marxist socialist. Get the God Damned American government out of my pocket and my choices and do it now.”
Andy McCarthy counts the many other ways that McCain’s performance was a disaster.
Andy, I’m with you.
***
Ugh. McCain talked about his home loan plan in April:
These reforms must wait on the next election, but to help our workers and our economy we must also act in the here and now. And we must start with the subprime mortgage crisis, with the hundreds of thousands of citizens who played by the rules, yet now fear losing their houses. Under the HOME plan I have proposed, our government will offer these Americans direct and immediate help that can make all the difference: If you can’t make your payments, and you’re in danger of foreclosure, you will be able to go to any Post Office and pick up a form for a new HOME loan. In place of your flawed mortgage loan, you’ll be eligible for a new, 30-year fixed-rate loan backed by the United States government. Citizens will keep their homes, lenders will cut their losses, and everyone will move on — following the sounder practices that should have been observed in the first place.
***
Reader reaction is pouring in. A few of the best ones:
From e-mailer Danny…
Sorry to say - during tonight’s debate - all I had to hear was: (1) McCain offer additional housing bailouts in response to the 1st question and, (2) a dedicated lack of confrontation in response to (a) Obama’s ‘Bush = McCain’ rhetoric and, (b) lack of willingness to drive a stake into Fannie Mae + Franklin Gaines + Obama & Democrats - that I had to fight myself from turning the TV off.
Clearly - the wrong Republican on the ticket was out there tonight.
What about all of McCain’s talk about “victory”? It matters in Iraq, but not in Michigan, not in tonight’s debate?
Gov Palin sounds like more of the leader I am looking for - not someone to call me “friend” - but someone to show me some fight. If I feel this way - I wonder what our servicemen and servicewomen in Iraq and Afghanistan will think about when they see this performance and truly study it with a critical eye?
Take the gloves off - and put on the brass knuckles.
I will still vote for the McCain-Palin ticket - but only because Gov Palin is on it. Truly, I feel sorry for her. At least she FIGHTS. Sen. McCain’s performance tonight was more like Captain Hazelwood of the Exxon Valdez - playing slalom with icebergs.
Jimmie at The Sundries Shack:
And what about the non-homeowners who have worked hard and decided, responsibly, not to live under the Damocles’ Sword of an Adjustable Rate Mortgage knowing that, at some point, that rate was going to adjust upward and put them in serious trouble?
Screw us, apparently.
Here’s the thing, though. The value of housing fluctuates with the demand for housing. The government is hideously bad in picking the value of anything. Don’t believe me?
The government has been helping to set the value of health care through Medicare for decades. How’s that been working out?…
And from commenter DirkBelig:
While on points tonight’s debate was a draw, in all practicality it was the beginning of the end for the once-great nation of the United States of America.
When is Kathleen Parker going to demand that McCain drop off the ticket to spare Sarah Palin the embarrassment? After Palin finally forced Obama’s radical pals into the light where even CNN had to acknowledge their existence, McCain doddered into the debate tonight and blew it, allowing the pundits on Nightline to declare such talk the desperate actions of a rapidly fading candidate “talking about 40-year-old events when the public is worried about the economy today.” He sent his wingman out on a mission and left her hanging out to dry.
Buying up bad mortgages was his big idea for the evening? Why not just hand him a horn labeled “ME TOO!” for him to honk whenever Obama promised to give everyone (but Mean Rich People) a tax cut and a kitten that will only poop rainbows? Allowing Obama to twist the “he doesn’t understand” riff back on him allowed a demerit on Obama become a slam on McCain that taps into the public’s fatigue with a seemingly-endless war that Dubya never was able to articulate the need for when it counted.
We are four weeks until the Election and the only one speaking the Truth about Obama is Sarah Palin. McCain isn’t getting his message out thru the Treason Media’s filters. Obama’s ACORN cronies are rounding up homeless people to commit voter fraud in Ohio already. With conservatives already leery of McCain and only staying interested because of patriotism and Palin, the longer he shuffles along, the more likely this “imperfect servant’s” last public act will be to deliver the United States into the hands of the fascists and communists that he once fought against and suffered under. I wonder if he even knows how badly he is failing - not only himself, but his country?
Too bad I never developed a taste for therapeutic alcohol because if I did, I’d be self-medicating something fierce now. Cheers!
***
Apparently, some conservatives think this individual home loan mortgage nationalization plan is okay because economist Martin Feldstein proposed it. If you think falling housing prices are the “problem,” then of course you’ll go along with massive government intervention to stop the “crisis.”
I agree with this guy:
This has got to be the stupidest idea I’ve ever heard.
The argument about a low-cost loan cutting back on monthly payments has a tiny degree of merit, but the idea that the homeowner is going to think about his mortgage obligation differently because it is split into two pieces is just plain dumb - especially if the new loan is full recourse and from the U.S. government!
The whole idea of somehow propping up home prices is just sickening and the notion that renowned economists still think the root cause of the current problem is falling home prices rather than the policies that allowed home prices to rise to their previous bubble heights - well, that’s even more sickening.
More reax:
Dumb idea. Only someone with a degree in Keynesian economics would think splitting a mortgage into two parts is somehow “helping” the upside-down borrower.
Plus, anyone who is foolish enough to borrow from the government with full recourse would be asking for trouble. Ask anyone who is behind on their student loan payments. Miss a payment or two and the penalties and interest will multiply the balance due beyond the point where you will ever catch up, and the IRS will garnish your wages to get the money back.
As with any government “deal”, the likely downside far outweighs the possible upside.
***
The trouble with the government changing the terms of existing mortgages is that they will have to totally destroy contract law. Any advantage given to one party in a contract will be a disadvantage to the other party. We will no longer be a country of laws but a country of arbitrary government edicts.
Feldstein is nuts. He claims to be worried about “overshooting” on the way down. History shows that declining home prices don’t overshoot the way stocks often do. Instead, the decline slows as prices approach fair value. Then nominal prices stop falling as inflation gradually eats away at the real value of real estate. Nominal prices start rising again only when they have roughly reached fair value. The reason real estate prices don’t overshoot on the way down is because they are sticky upwards.
Feldstein’s concern about overshooting suggests that he thinks the fair value for real estate is a lot higher than it actually is. Notice that he thinks a 15% decline over the coming year would be enough to return housing to reasonable levels. (He’s using real numbers, not nominal. With our current 4% inflation rate, he’s talking an 11% nominal decline over the next year.) Feldstein’s real aim is to prevent a much-needed real estate correction.
Feldstein is a Republican. I thought Republicans were supposed to believe in the free market. I guess they do except for when they don’t.
Yeah, that ship has sailed.
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1. McCain is on record as calling Roe “established law”.
2. McCain is for amnesty.
3. McCain is a known supporter of Americans for Firearm Safety which, despite its gentle name, is nothing more than a gun-grabbing organization.
4. McCain was the guy who wrote campaign finance reform, which was a blatant repeal of the First Amendment, particularly where elections are concerned.
The reason none of these was brought up is simply because the two candidates’ differences on them is negligible at best.
RWR
http://www.rightwingrocker.com
We are in the 4th quarter and our team is LOSING. So he threw a Hail Mary.
Some of you people make for terrible fans. Your QB, who you never liked, is back in the pocket looking for a receiver to throw a long bomb to.
Keep our eyes on the prize (victory), not the individual plays of the game.
The alternative is 8 years of devolution into a full socialist society. Permanent recession/depression serves the will of the Obama style of Democratis government.
Please keep in mind, to them payback is a bitch and they feel we could all use a dose of pain.
Aside from the crying going on here who of you will vote other than McCain? Honestly now!
I can’t believe it has come to this.
Well, you are going to get your way… no McCain. A grateful nation will applaud your efforts from our re-education camps.
CAN YOU IMAGINE??? NOT ASKED????
It boggles the mind.IT SCARES THE CRAP OUT OF ME.
Obama has silenced all opposition for over a decade, taught it, loved it, ate it, married it.
He is the black SaulAlinsky Marxist socialist.
Homeownership is at risk. I’ll fight for our freedoms, and our property. These are not up for grabs, Barry Alinsky. STAY AWAY!
Just caught the Obama speech on Fox and something that caught my attention was near the end where he is talking about how proud he is in us???? UM isn’t this some person who once sat calmly in the audience while his pastor said “God D@** America” and once claimed this same pastor as his great spiritual adviser?
He really will say anything to get elected. Its worse than Clinton in the 90’s.
as for the problem / bailout?
The WRONG PEOPLE ARE STILL IN ALL OF THOSE HOMES. Whether they were speculators or ACORN people.
GOVERNMENT can NOT fix an Economy. EVER.
On October 8th, 2008 at 11:00 am, walterc said:
Perhaps because he’s a ChiCom candidate.
McCain must step away from the nomination, and we must pair Sarah up with a God-fearing, strict constructionist. I still have faith that our next President will be someone other than McCain or Obama.
McCain will likely be inaugurated our next president.
This is unfortunate, no matter how you look at it. We are stuck with 4-8 years of a liberal president that the liberals will call “ultra-conservative” when we COULD have had any of the other candidates, ALL of which would be better.
It took 4 years of Jimmy Carter to bring us Ronald Reagan. Four years of Barack Obama can do no worse.
Perhaps that would even show America that it’s time to force these socialist political parties to either change their ways or cease to exist.
RWR
http://www.rightwingrocker.com
Obama;
Ask him again if/when he loses.
Yup. And the same guy that expressed such disappointment that we so cling to guns and religion.
RWR
http://www.rightwingrocker.com
We can pray.
RWR
http://www.rightwingrocker.com
Also not to parrot talk show hosts but honest question about the whole taxing the rich. Has anyone ever gotten a job from a poor person?
Grow the economy from the bottom up he says. How about holding people accountable for their bad decisions.
And the Bailout is the beginning? And he said it we need tax increases…
After the election, we won’t be hearing much from Barack Oblahma.
Instead we’re going to be hearing Donks ad nauseum telling us how the US is a racist country because we didn’t elect a black candidate to the White House.
Never mind that we don’t want a guy with his beliefs and record, regardless of race.
What would be fun would be to REALLY get a lot of support for Alan Keyes (I’m voting for him anyway - I only disagree with him on the issue of the drug war) who happens to be both black and conservative.
So we cut into McMoron’s margin … who cares?
KEYES ‘08
RWR
http://www.rightwingrocker.com
Another quick question: how can you give a tax cut to 95% of people when 40% of them don’t pay taxes in the first place?
Also by cutting taxes on companies doesn’t that mean that those companies can hire more people or increase the dividend payments to stock holders?
Only the people who work for me.
Unfortunately, though I get them good money, we’re still building and there’s just not enough work yet to support anyone just on what they make with me.
RWR
http://www.rightwingrocker.com
My plan was to avoid all 3 POTUS debates because I won’t vote for either of these guys. I already know all I need to know about both of them. Both are entrenched politicos, wallowing in DC sleaze.
While I’ll check the McCain box on the ballot, my vote will really be for Gov. Palin and the hope that she can drag his sorry a$$ over the finish line before Obama / Biden.
On October 8th, 2008 at 12:47 pm, shooter said:
That’s why Mike Huckabee challenged John McCain to debate the issues that matter during the primaries. McCain refused. Here is the letter Huckabee sent to McCain:
Still considering not paying my mortgage.
I got mine, screw you bill of 2008.
Feldstein is still alive?
Obama, if you’re out there, this is why we’re clinging bitterly to our Bibles and guns.
Sarah, you rock and you deserve better.
Did anybody else spit out their drink last night when McCain strayed from his “My friends” to “Comrades”?
As I recall, about a year ago….McCain was way down in the polls (for the Republican nomination)…and it seemed as if his chances of ever being the Republican nominee were slim.
Or as I call that period….THE GOOD OLD DAYS.
On October 8th, 2008 at 12:46 pm, Bill Grant said:
Bill Grant:
I have two things to say to you:
What I think about your “Whine & Awe” attack…
The answer to your “Whine & Awe” stategy!
So, instead of whining, DO SOMETHING about it! You were all big words:
So, when things get tough, you whine?
Good job, have no fear: you fit perfectly into Obie’s world!
RWR,
I see a lot of FUD here. A lot of people who whine & complain, snark those who try to carry the load, and pretend that they are carrying too…
I am really glad you’re not with that crowd!
You have a nice site, BTW, (…though the colors are hard on my old eyes…).
You’re not alone, vic. I wonder this every time I see him. Every time AZ is in the news re illegals, the legal residents are furious. And they keep re-electing this guy? Does anyone know which way AZ is trending?
Early on, I had a relative who said she worried about McSame’s McSanity because of those years in the Hanoi Hilton. Now I see she was right.
I haven’t read this thread yet, but wanted to jump in here. Hope I’m not repeating. I just heard on FOX that there have been over 46,000 evictions in Cook County, Illinois (That’s Chicago) for non-payment of mortgage, or what I fondly refer to as “The Obama Effect”. Now, just one problem with kicking all these people out on the streets. Many of them are just renting and have been paying all their bills on time. It is the OWNERS of these homes (Rezco anyone?) who are defaulting on the mortgage, not the renters. So, the wrong people are being punished. Another bit of fallout from this whole fiasco. Why in the name of heaven, don’t they go after the people who are actually at fault??? Just another case of the lunatics running the asylum. There is much more in our future, I fear. Maybe Michelle should do a column on this travesty!
McCain’s plan would wreck home prices for responsible owners while in essence destroying the home values by letting these deadbeats stay in homes. This kills a person’s ability to sell their home at a profit. What about mobility? What if they need to move to another city or state for a better paying job? Will they just happily take the hit?
Another short-term government “fix” (they NEVER solve anything) for a long-term problem made even longer-term by their intervention.
Well, republicans, aren’t you sorry you allowed yourselves to be brainwashed by the MSM to select McCain as our candidate? That is exactly what the liberals wanted, so they wooed him and gave him tons of air time and put out the message that McCain is the only candidate who could beat Hillary in the election. The lemmings bought into it. Then, as soon as he was nominated, the MSM turned their backs, the same way they were in the tank for Obama and screwed over Hillary. It is so obvious that the media is electing our President this time. The American people have been snookered. And, by the way, this big mortgage crisis is directly connected, in part to the illegal immigration issue. Another reason we should never have chosen McCain as our candidate. I find myself angry these days and I never used to be that way!
Perhaps people were afraid of a “thread-jacking”, so:
I’ve just posted version #2 of “A Proposal For Action: Saving the Constitution of The United States Of America” on Dad’s site here.
Where did Drive-By-Bill go?
Best quote of today:
Obama isn’t willing drill for energy but is willing to drill for votes.
Gov Palin.
The one good thing that’s come of the McCain Mistake is Sarah Palin, Scrapper. It’s pathetic when the #2 on a ticket is the only one who is willing to name names and kick butt. But she, and other good people like her, will be good to go in 2012 when the populace is ready to clean house.
The Socialist Democrat vs the Socialist. Amazing what the world has come to.
Yup, Socialist that is Democrat versus the Socialist that is Republican, a good choice.
If John McCain is elected, it will be hard for the republicans to be able to hold a filibuster against him. McCain will just drive the Republican name down the drain, further than it is already, these may become the good old days. By 2010 Democrats will have absolute authority in the legislative branch of government.
If Barack Obama is elected president, the Republicans will easily be able to hold a filibuster, will be able to fight against The One and his minions, and maybe just maybe in 2010 win back some seats in congress.
We lose either way who ever becomes president, the only difference is that we will be able to win back our country if Barack Obama becomes president.
I have been a staunch backer of McCain since Giuliani dropped out, and the bottom line is last night was a disaster because McCain would not take off the d@mn gloves and hit hard.
Giuliani would never let such challenges go to waste. He would also not be scared of Obama’s race. He took on David Dinkins and won.
McCain is so scared of being called a racist that he will not call Obama a socialist.
Brokaw-Obama…excuse me Barack Obama…is not qualified, and not honest.
Either McCain points this out, and starts caring more than I do, or I am going to hold my checkbook.
I have had it. Enough with the niceness and kind words toward Ted Kennedy.
They hate us, and we need to rip their throats out.
Get Karl Rove on the phone NOW!
Respectfully,
eric aka the Tygrrrr Express
http://www.tygrrrrexpress.com
Why isn’t Plain giving any statements against these irresponsible spending?
Is she a ‘half conservative’ like McCain or she just does’nt want to talk to press and will keep on blocking press or continue avoid taking unscripted questions from press? Sometime I feel McCain campaign may be forcing Palin to not talk to press. They should just let her be herself.
Because, it isn’t the place of the VP to set the ROE for the ticket. What we’ve seen with Palin’s toe-over-the-line-quick-draw-it-back stuff, where she hits Obie in the chops & is then is in hidden for a few days is McCain reasseting control over the ticket’s jr. partner.
I’ve witnessed this scenario in the AF too many times during my career. When the self-important officers under me in the TOC would pull that crap, I’d stomp’em flat. The source of good ideas shouldn’t matter… it usually doesn’t with the Warriors. I’ve found, however, that most of the rest are just looking to pad an OPR.
I was afraid this situation would obtain, since I have always been convinced that McDumb&Nasty’s only reason for picking her was to keep an uprising from leading to a brokered candidate.
Now, if McCain were to announce, right now, his selection of Rudy Guliani as Attorney General with the promise that he was going to kick butt and indict each and every corrupt person in this financial mess, including politicians, maybe I would feel better. That would be HUGE! My husband reminded me that Guliani has some scandals in his past, but so what? Nothing that big, and he cleaned up New York City with incredible success.
You know that’s what gets me. I don’t know ONE single person who voted for mccain in the primary. Nobody. Granted my little world is not a representative sample but still. Heck, I am in Texas and by the time the primary reached us only mcamensty and huckster (yep, I didn’t like him either b/c he is not much better) had not droppe dout. However, Tancredo was still on the ballot and guess who I voted for? Darn sure not mccain and I won’t vote for him in the election. I hope he wins nonetheless, but I am voting 3rd party. We’re screwed in ‘08 is the understatement of the century.
#164
I like your plan, Mike.
The problem as I see it is we need to get a viable third 3rd party off the ground before we consider implementing a plan like yours. As long as both parties know they’re the only game in town they’ll never listen to us. I don’t care how many letters we send.
Is that Martin Feldstein or Marty Feldman behind this?
Yikes! I just found out that Martin Feldstein was chairman of AIG Financial Products. Maybe not the best person to be giving advice.
All of the people who want government intervention are unaware what made this country great. We did not get great by central planning and governmental market intervention. Rather we became great by our collective reliance on the individual within the confines of the constitution.
Seems to me that there is one 800 pound gorilla in this room that nobody’s mentioned……
At the core isn’t this really about buying votes?
And BTW Mike.Musculus…..I bookmarked your page for further perusal…I’ve got a busy day going and just don’t have the time to give it the attention it deserves at the moment…
1st, please excuse spelling, using Dad PDA during my shift sitting w/him. No spell-check– and it drops character. I don’t know how he managed…
Thanks Solo!
I actually, I tried to take our current situation into account.
The check on a 2-party situ. is the “endure your challenger” stipulation. It certainly depends on our keeping after them reminding them every day that we’re out here and unwavering. Let them chop votes, let them pull the same crap they did with this vote. Come election, bye-bye.
The LDS Church has a saying: avoid not just impropriety, but even the appearence of impropriety. They vote, those up for election that cycle are toast. As each blackhat comes up for re-election, toast him. Any hint of “hall passes” during the vote, bye bye.
What I do in my job is detect patterns not normally discernable to other intel. I am very good at my job.
While pondering our elected oafs, I realized they can be tokenized as a cross between children & lemmings. They emotionally they’re like spoiled 2yr olds (sorry any 2yr olds…): selfish, self-important and self-centered, with a hint of bully… BUT, they easily stampede into blind action: i.e. they easily become afraid for their jobs.
Once 3 or 4 bite-the-dust, they’ll start to toe the line. They’ll trample each other to flee the arm-twisting leadership.
Again, thank you. I’m going to think about what you’ve said. There might be additional controls I or others can build in!
Darn its hard to use this thing. I wonder if all PDAs are this bad.
If you don’t mind, leave a comment on Dad’s blog, that way I’ll have your email. I want to setup some interchange where any who contributes can cross-polinate ideas. I know one thing: if this does destablize, and a revolt starts, foreign powers will move in. While I won’t wear chains, I don’t want that to happen either. It is definitly a Last Resort!
Oh, BTW, I will not use any email you give me for anything other than this info exchange project.
I am so sick and tired of this! Every time I think I’ve overcome my nausea enough to pull the lever for McAmnesty/McSpend, something this strikes the fan. I am more and more convinced that both candidates are a disaster for this republic. Yes we will not fare well for some time to come, but if B. Hussein wins, at least it can’t be blamed on “conservatives.” PALIN 20016!
On October 8th, 2008 at 12:45 pm, FireBlogger said:
You don’t win football games by badly imitating your opponent’s plays.
I don’t care what country you’re in, you don’t win elections by adopting the philosophy of your opponent.
Given the following choice…
1) A full-blown collectivist neo-socialist with charisma, eloquence, and media support.
2) A grumpy old collectivist with no media support.
… the typical electorate will pick #1 any day of the week.
Mike.musculus, put an easy to find link to click on your website for email exchange.
FilmmLad:
I only started blogging when I took over Dad’s political stuff in August(?), after his hospitalization. More than 2/3 of that times’ been spent at various bases because of my job. I just don’t know how to put such a link there.
I’m somewhat ashamed to admit it, but my ancient Dad knows more than I do about this than I do. I must be feeling whimsical: right now, that a man born early last century is more tech-savy than I am, strikes me as sit-com funny!
Tell me how and I’ll have it done by tomorrow afternoon, in any event, by Friday approx 1800h.
Thank you again for the feedback so far!
Which presidental candidate would you rather smoke a joint with?
Answer: The drug user of course…
I think it is amazing that someone with the law breaking history of Obama can even be running for president….
Neither, Rob. The evil weed does nothing more than feed one’s delusional images of oneself….whether those be nice or not so nice.
Obama is a creature of his own delusions. McCain for all of his flaws has served his country.
Who does Obama serve besides his self-created parody of a messianic narcissist?
Marijuana is a lethal weapon doing great harm to this nation, IMHO.
Bear1909 out.
Rob!
(Jimmy Duranti voice)
I like it! Haat-cha-cha-cha!
Oh! wife brought dinner for us to share! I didn’t think the nurses would let you bring it into the room!
Bye, Now!
I still say that McCain can run the country. It is less a matter of him, than it is who he brings to the table to run the bureaucracy.
First, he may clean house and run the Clintonistas out that Bush left in their holes.
Second, he will be at home with being Commander in Chief. (Can you imagine BHo in his first situation room meeting with his foppish chief of staff taking notes? LMAO) And he understands how the military functions– and function it does.
Third, what are most of us going to be doing in our seventies? This guy keeps on clickin— love him or hate him–he is a survivor. What has Obinkee survived besides that battle axe of a bride?
Fourth, McCain may be an insider in Washington. But what about Oflambe? The Washington establishment is going to give him 100 days exactly before they begin to defy him and whatever he thinks he is. He hasnt paid enough dues to justify or engender basic respect. The sharks want the White House— and if they get it, get this, Biden is first in line to be President. He would make Bush look like Einstein.
I wont criticise McCain the Man. McCain the Senator, of course, he is not the best of the bunch. But i think slamming him is bad for business.
Bear1909
There should be a television commercial comparing McAmnesty’s prisoner of war story and Obama’s drug use. There MUST be people that can tell stories of Obama’s stupidity and maybe even legal troubles??…
Although, I am still hoping for the Bradley Effect…
Has anyone noticed the money is a part of the bailout plan, and Senator McCain’s proposal is to manage it better. People are not going to be able to keep their homes if they don’t make payments.
I am so disgusted that our “true” conservatives attack McCain at the drop of a hat. Are you not aware our country cannot be governed from either the right or the left. It has always been governed from the center. Obama’s phony fake out of appealing to the center is a deception to cover up his own thug behavior, his surrogate’s vile and vicious behavior, his truth squads, ACORN, and lying, with the help of the media, about his radical and frankly anti-American associates. He will not govern from the center, but so far left none of us could ever imagine. McCain will govern from the center. And that is good.
Obama / McCain
the younger years
aJ! nice ad. For real. Obinkee is a dim bulb with a closet substance abuse history that he tried to get out in front of in his “book”….. he has an addictive personality and will be devoured by it under the pressures of real leadership demands— demands he has never faced even a facscimile of.
Bob Novak is whining that all is lost. McCain is letting the chips fall where they may. running for President is a lonely way to go. As President he will have a cabinet that may give us some semblance of confident leadership.
The MSM have blown this race out of proportion— if it is so decisively in Obinkee’s corner now, why are there so many undecided voters?
Hmmmmmmmmmmm. I bet it is higher than they are saying.
Bear1909 out.
On October 8th, 2008 at 1:42 pm, mike.musculus said:
Gee…don’t go out and get a life or anything mike. Ill answer you on the other thread when I get a chance.
Is rambling sound and fury. Do I write letters to congressmen and senators? Yes. Am I going to write one a day? No. Why? Because mine get opened and read, often answered. If I sent in one a day they go in to the trash with the valuepacks and the Chinese menus.
I am. I am chocking down my own frustration and disappointment and taking time off and working to help elect someone who quite literally had me throwing things at the TV screen yesterday because I STILL think the alternative is too destructive to the USA to throw up my hands for. What are you doing other than typing unibomber manifestos and posting them here?
I don’t think you have absorbed a word I have written.
Whine? I am VERY concerned for the country. I am frustrated as hell with the stupidity that it takes to vote for Alan Keyes or Chuck Baldwin. I am disgusted with so called “conservatives” who were too ignorant to vote for Romney because he is a Mormon or Giuliani because he is a “baby killer” or whatever other excuse that got us to this point. Frustrated still that after choosing a vice presidential candidate that is every bit as inexperienced as the democrats presidential candidate, thereby taking the biggest weapon we had against Obama (his big 143 day resume) off the table JUST TO APPEASE THE CONSERVATIVES the base is still not rallied. Aggravated that McCain looked like the crypt keeper. (WOULD IT KILL YOU TO GET SOME GODDAMN MAKEUP!) (Probably) Exasperated that he can come up with these STUPID ideas. (Why the hell should I pay MY mortgage? Can someone please answer that?) AND DOWNRIGHT WORRIED about the America hating thugs who are going to drive this country in to the ground after we elect barack f-ing Obama president.
But “whiny?” I thought I was doing a pretty decent job of not complaining too vociferously about the country that I believe in being gangraped by the likes of Bill Ayres and George Soros.
Drop dead.
Carly Fiorina isn’t either - she of running HP into the ground.
I have been saying this for some time…to anyone who holds still long enough…
we don’t have Liberal/Progressive/socialists/leftists…
and conservatives/free-marketeers/Constitutionist/limited government advocates…
we have
FAST socialsists…
and SLOWER socialists…
those are our current choices, generally…
I have never intended to vote for John McCain. He is a liberal, and while less socialist than Obama, he is a very confused socialist. He has no coherent governing philosophy and will be a disaster. There is no doubt Obama will be a worse disaster. But seriously, either way the nation is destroyed.
For the first time in more than 20 years I will not vote for a GOP candidate for President. I will be voting for the Constitution Party this year. Last week McCain showed one more time why we can’t trust him. Last night he aptly demonstrated that he is only slightly less disasterous than Obama. I can’t vote for the lesser of two disasters.
This nation deserves better.
Two points that John McCain needs to make starting today and continuing every day until election day:
1. The present economic mess is a direct result of sub-prime mortgages that the Democrats authorized and touted until the day before yesterday.
Sub-prime mortgages fueled the sky-rocketing home prices.
Then when the sub-prime home owners couldn’t pay, Fannie Mae, Freddie Mac, and everyone holding the bad sub-prime paper went belly up.
2. McCain needs to explain how he is going to lead us out of this mess.
The $700 billion bailout is a done deal, but it has not had the expected effect on stock prices.
More bailouts will not solve the problems and only lead to higher taxes.
McCain needs to jaw bone stock prices and the economy.
“My friends. What you and everyone else needs is some straight talk. You can can be sure that my opponent has no idea how to get us out of this mess.”
“All he wants to do is for the Government spend more money. And with that, he will have to collect more taxes.”
“Government needs to get out of the way, so that the American people can fix what is wrong with the economy.”
“Look what smart people like Warren Buffett are doing. Buffett is not selling his stock holdings. He is holding what he has. He is buying where there are bargains. Next year and the year after, Buffett and everyone else who buys stock now is going to be richer than they are now.”
“The way to turn things around and build the economy is to drill for oil, build 10-20 new oil refineries, build 50 new nuclear power plants.”
“If we drill for oil today, we will start having more American oil by this time next year. And the percentage of American oil will grown every year. With more American oil, world oil prices will go down.”
On October 8th, 2008 at 7:55 pm, WarEagle82 said:
So.. better to support a truther who wants to withdraw from NATO, give up overseas bases and “terminate American military presence in all foreign countries”… get rid of the patriot act and the national security act and promises to do things like ban the lottery and pornography. …K
Obama, Obama, Obama, Obama, Obama…
Another Obama supporter… yay
Bill,
In case you haven’t checked, America is winding down its troop deployment in Europe. The threat of Soviet invasion of Western Europe is over. We won. It is time reassess threats and choose new alliances for the next 40 or 50 years. Europe will do fine without us. And they don’t need tens of thousands of American troops in Germany any longer.
The Patriot Act introduces virtually no new powers that law enforcement didn’t have before it was passed.
And I have no problem with banning the lotteries or pornography. They both hurt millions each year.
We have tried it Clinton’s way and we have tried it Bush’s way. In the end, we didn’t do so well on either path. It is time to get back to the principles of limited, constitutional government and the Constitution Party seems to offer the best path there.
It is okay if you are in favor of the lottery and porn. But, I’d rather do something else with my time.
No, Rob, I guess I am a Chuck Baldwin supporter. You see, if I was an Obama supporter I’d be voting for Obama. Were I a McCain supporter I’d be voting for McCain. Instead I am for limited, constitutional government and will be voting for the only party which seems to want to take us there.
I voted for Bush twice, Dole once, G HW Bush twice and I still got socialism. I am tired of the GOP lying to me. They promised me limited government for 20 years and I got socialism and they destroyed trillions in wealth on the way there. The two major parties are utterly corrupt. I accept that now. Maybe you will too after the next trillion dollar, pork-laden bailout. Or maybe not….
Comrade, as long as you support Obama, I do not judge you…
Well, Rob, at least you are consistently illogical. No wonder the GOP is in the state it is in. Start thinking for a bit and you will see that both major parties are part of the problem. Neither will ever dismantle the huge government they created and profit from. Neither has any intent to do so.
Obama promises he will implement socialism. McCain babbles about socialist programs but doesn’t understand that he is actually suggesting socialism. In the mean time, Bush II (for whom I voted TWICE) has already created the foundation for socialism in America in 8 short years.
If you keep charging down the road the the cliff don’t blame me when you notice the hard, pointy rocks rapidly approaching the second after you step off in to thin air. The truth hurts and so do those hard, pointy rocks….
hmmmmmm… yeah, Obama’s homeless voters are logical, the black fools that are voting for him because he is black are logical, the stupid liberals that are voting for him because they are stupid are logical…
You are going to proudly be able to say that you were logical and are proud that President Obama beat that illogical McCain.
You are about as logical as a pail of sh!t.
but This is OT, I am posting this to every blog site I’m registered at because I’m so d***** mad and upset:
The US Special Counsel is launching an investigation against my brother-in-law’s cousin for using The One’s middle name at Sarah’s rally in Fort Myers on Monday
http://www.nbc-2.com/articles/readarticle.asp?articleid=22058&z=3
I think I’m gonna be sick.
Can you imagine how much it will cost him to defend against this?
Mike is a good man; he, his wife Christa, and the girls do NOT deserve this.
I guarantee Obama’s campaign got wind of this and decided to make an example of a Republican sheriff. I wouldn’t be the least bit surprised if these “phone calls” came from Obama’s goons and supporters.
These are the kind of tactics we can expect if The One gets in to the highest office in the land. Prepare for all methods to stifle free speech.
On October 8th, 2008 at 9:01 pm, WarEagle82 said:
War,
In case you haven’t checked we have NATO troops in Afghanistan and the Canadians at least have done an excellent job. Additionally, we are facing a resurgent Russia that just rolled through Georgia and routinely threatens the Ukraine and Europe itself. Every time we go the rout of isolationism it winds up dragging us in to a bigger conflict. I am the 4th generation in my family to be dragged off to fight in Europe but the first to not spend years at it because we have NATO. So that is a bad, bad, bad idea.
That isn’t true, indeed, before the patriot act the FBI couldn’t even talk to the CIA by law and we were not allowed to collect domestic intelligence. Regardless, before we toss all of that away shouldn’t we win the war that we are in? You know, the one that the moonbats at the chuck Baldwins website call the “so called” (scare quote) “war on terror” (end scare quote)?
I happen to be an adult and can gamble if I wish. I don’t trust the likes of Chuck Baldwin not to call Michelangelo’s “David” pornography because anyone who hasn’t figured out that fire CAN melt steel isn’t too stable.
Be careful, We wouldn’t want Chuck Baldwin to catch you red handed…
A vote for anyone other than McCain is a vote for Obama.
On October 8th, 2008 at 9:55 pm, marybeth said:
Can’t connect Marybeth, what’s the guys name?
Good one,