McCain Campaign Blames Obama for the Bailout Bill Failure »
Posted By capj71 1 year, 2 months ago in NewsIn a bit of farfetched delusional spinning, the McCain campaign is blaming Barack Obama for the House ’s failure to pass the $700 billion bailout package. “This bill failed because Barack Obama and the Democrats put politics ahead of country,” said McCain advisor Douglas Holtz-Eakin. However, no amount of spinning can save McCain now.
Read Full Story at politicususa.com »
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capj71
Hi I am Capj71, but my friends call me Jason. I love politics. I am a liberal, and proud of it. I share and prop ...
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not2needy1 year, 2 months ago
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coymoy1 year, 1 month ago
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redbeard472291 year, 1 month ago
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Read this WashingtonPost article on the financial mess and argue over fact, not opinions. http://www.washingtonpost.com/wp-dyn/content/artic...
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Thank Ya'll -
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Klarissa1 year, 1 month ago
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And you want your money to got to this group?
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The Democrats put in a section to give ACORN money from the bailout.
Latest on ACORN:
WASHINGTON, Sept 25, 2008 /PRNewswire-USNewswire via COMTEX/ -- James Terry, Chief Public Advocate for the Consumers Rights League, today testified at a joint House Administration and House Judiciary Committee oversight hearing on "Federal, State and Local Efforts to Prepare for the General 2008 Election,
" where he highlighted "corruption at every level of ACORN including embezzlement, cover-ups, misuse of taxpayer funds and voter fraud."
An excerpt of his testimony follows:
James Terry, Chief Public Advocate, Consumers Rights League:
"ACORN routinely says it will clean up its act. Yet, given its decade-long history of voter fraud, embezzlement, and misuses of taxpayer funds, ACORN's pattern of fraud can no longer be dismissed as a series of 'unfortunate events.'
"Here are the most important questions right now: We know about the thousands of potentially fraudulent voter registration cards turned in by ACORN and caught by officials.
But given the size of ACORN's efforts and the fact that the abuses appear to be systemic, we believe it is fair to question how many more fraudulent registrations have not been discovered,
Furthermore, as this mega organization with a decades long history of violating the law is turned to get out the vote efforts, we believe it is fair to question how many fraudulent registrations may lead to fraudulent votes or what other activities they are willing to undertake to influence the election.
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GLee1 year, 1 month ago
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Each candidates camp is pointing the finger across the aisle. Personally, I believe America knows that the current crisis goes back to the Carter administration and has been fueled by Clinton's 8 years as well. This is not to say that Bush doesn't share some of the blame but the 'right' has been warning of a crash for the last 4-5 years and no one wanted to listen. The larger point being, they all had a hand in this mess and the American public is now seeing the light. The next few elections might prove to be the true 'change' in America's politics!
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sieben131 year, 1 month ago
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Taxpayers in Pennsylvania will pay $25 billion for total Iraq war spending approved to date. For the same amount of money, the following could have been provided:
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6,178,858 People with Health Care for One Year OR
30,087,716 Homes with Renewable Electricity for One Year OR
548,339 Public Safety Officers for One year OR
381,153 Music and Arts Teachers for One Year OR
2,056,721 Scholarships for University Students for One Year OR
254,272 Affordable Housing Units OR
7,852,612 Children with Health Care for One Year OR
3,921,309 Head Start Places for Children for One Year OR
396,560 Elementary School Teachers for One Year OR
348,743 Port Container Inspectors for One year
Thanks president bush -
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EHS1 year, 1 month ago
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Senator McCain deserves some credit and respect for years of service. Obama keeps struggling because he keeps trying to cover his tracks with wrong friends. Names associated with anti Israel, type people, keep coming to my mind. Just last week, the Iran President came to speak to unite Muslims at the New York hotel to speak against Israel. He tries to charm, but his comment about rural people clinging to their guns and religion still rings in my ears. Unsure about his character. That doesn't sound like a christian man to me. Wiser to be safe than sorry.
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jga10724931 year, 1 month ago
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ARE YOU KIDDING ME! thats obamas whole campain blame the reps when 17 times since 2003 the the dems are the ones who said i quote everthing is geat why fix whats not broke they saw this comeing and some rep and did nothing most rep including bush admin mccain at least tried and i quote dems still blame rep this is a joke i was a dem and still am but have to vote rep this time because the dem party will run the presidentcy not obama he can only talk not do and most of his speeches always cast the first stone
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jga10724931 year, 1 month ago
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obama always throws the first stone he is a great talker on what people want BUT he really stands for political gain he didnt even help his party get the votes to busy bashing mccain this is why i would never vote for him and for the record he voted present for bailout the man is not about change hes about political gain and there is not one thing that hes done for the people on the record and check for yourself this man is a talker thats it come on people check it out this is about america not a party so if you want a talker who does not care about you and lies about how hes for change and will say just about anything to get your vote and check out his flipfloping to get your vote the man can not run a country atleast MCCAIN is for the people may not agree with everthing but he beleaves in AMERICA and the people and has a good past history thats why iam voteing for mccain AMERICA comes first
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djn3nunez31 year, 1 month ago
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BS
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The act sought to address a practice common in the banking industry in the 1960s and 1970s known as redlining -- denying credit to people based on their neighborhood, race, marital status, last name and a lot of other indicators that served as false proxies for "too risky." Redlining was racist, sexist, deeply unfair and, as our industry would later learn, bad business.
The CRA ended this practice. By obligating banks to pursue lending opportunities within their local service areas, it prevented them from taking a community's deposits while ignoring its needs. In the 1990s, regulatory agencies strengthened the CRA by establishing strict compliance tests for a bank's lending, investment and service activities. Meeting those tests became a prerequisite for approval of mergers and acquisitions. As the merger market intensified, so too did banks' attention to the CRA.
http://www.jimv.com/2008/03/subprime-crisis.html -
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quackpot1 year, 1 month ago
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WRONG
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The Republican controlled congress and administration are the ones that oversaw the vast expansion of sub-prime and blatant abuses of sub-prime that took place during the past seven-plus years. Expansion from a reasonable program to a toxic one.
The blame is squarely on these congress-people and the Bush administration. -
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cowboygrandpa1 year, 1 month ago
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GLee:
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I was just holding a mirror in front of your post and it has no life like you. LOL
You need to take off those Reagan colored glasses and see the truth in the light.
A lot of people liked Reagan because he was an actor. Not a president an actor.
But hey a lot of people like actors because their own lives are so mundane. Well I prefer the truth and the truth is Reagan was one hell of a good liar and so the people who believed him believe the lies. But hey that is OK. God said it would be like this.
People loving the evil and hating the light. Well, welll, well the truth is out. Many people loved the evil and still do. hahahahahahahahahaaa
Too bad, but I'm sure you'll be able to see him when you die, just like a lot of the so called Christians who profess with their mouth yet prove in the flesh what they love.
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raats6662Comment removed: Retracted by user39 Replies
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coymoy1 year, 2 months ago
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I can't wait for McCain to win. The weighted polls ... the biased media ... the "heart of America" the America people know Obama is the cancer not the cure. I don't want more taxes. I don't want to run corporations out of America to other countries(I'll bet Michigan wishes they got the new Ford Fusion Plant being built in Mexico). I don't want to give the UN 50 mil. a year. I don't believe that airing my tires is going to reduce my fuel cost significantly. I don't want a failed community organizer who can't say where the $150 million of CAC money went. I don't want to apologize for being an American. Obama is from a failed state with the highest tax rate in the US and I don't want him as President. McCain/Palin 2008
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tchef1 year, 2 months ago
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I've got news for you, with the highest deficit in history that the Republicans have given us with the last 8 years of mismanagement some one is going to have to pay. After 8 years it's pretty apparent that "trickle down economics" doesn't trickle down. If you want the economy to grow you are going to have to give the money to the most people who will spend it. The middle and lower class.
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rimbaud1 year, 2 months ago
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Stuck on some delusional old talking points?
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US companies are investing in the emerging growth markets in Asia (they cannot afford not to). They will build AND sell there. Even the required technical and engineering skills can be had there for cheap. Only the profits will come home to Bush's "ownership sociey", those rich or smart enough to invest. Yes, those nasty corporations are us! What's good for General Motors is good for the USA! When the up and coming Chinese are driving Chevies (GMC = General Motors China) and pumping Exxon/Iran oil, all will be well for us. Jobs that must be done locally, like Agriculture and Construction, are already heavily invested in by Mexican labor. If all you have to offer is your labor, you have been devalued, unless you can invent or design products for the new growth markets. It's a natural progression for a wealthy people... let those that are hungry study math and science and work hard. We will be the gentlemen rulers of the earth. -
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rimbaud1 year, 2 months ago
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"I don't want to apologize for being an American". Me neither!
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http://www.bushflash.com/thanks.html
http://www.thirdworldtraveler.com/US_ThirdWorld/US... -
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MsThing20091 year, 1 month ago
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Huh. Well, as a Michigan resident, I can pretty much promise you that most people in our state would have prefered NOT to have lost their jobs to begin with. The closing of the GM and Ford plants ( also companies that manufacted parts of these vehicles, such as visors and tail lights...) and furniture manufacturing jobs, I doubt this company could have bailed out the thousands and thousands of people already laid off.
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John Engler-R ( and G Bush-R ) caused an incredible amount of damage to Michigan /this country economically. The Republicans have been in office 8 YEARS! How anyone can possible blame the democrats for this encomic mess amazes me. -
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ISITJUSTME1 year, 1 month ago
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You will pay more taxes under McCain's plan than Obama's. All the polls that have McCain in the lead are weighted. If everyone properly inflated their tires there would be a reduction in fuel consumption. A decrease in demand brings about a reduction in price. The republicans are without a leader like a ship without a rudder.
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tchef1 year, 2 months ago
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This assertion that it is Obama's fault the this bill failed is nonsense. The taxpayers of this country just don't want to bail out Wall Street and they have made it very plain to their representatives (many of whom are up for re-election).
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coymoy1 year, 1 month ago
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jhicks88721 year, 1 month ago
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Newt Gringrich stated to McCain, that he should back out the bailout bill and tie the passage of the bill to the Democrats and George Bush. Newt Gringrich and John McCain are old friends, guess what is happening with the Republicans. Yes, the weasels are playing politics and trying to tie the bill passage to George Bush and the Democrats. This would gurantee McCain the White House. Who is playing politics, with the life line of our country?
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rimbaud1 year, 2 months ago
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That this bill failed is a good thing. The candidates should be taking credit for it!
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http://www.propeller.com/story/2008/09/21/risk-fre... -
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epiphannyy1 year, 1 month ago
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Only in a republican mind can the party who delivered the most votes, and the candidate who refused to inject politics into the negotiation processes be to blame for politicizing a plan that was scuttled by the very same people who are finger pointing blame now.
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Reality:
Democrats voted for the bailout by a margin of 2:1, while the republicans voted against it by nearly 3:1. Their reasoning? According to Boehner, republicans had their feelings hurt over something Pelosi supposedly said, so their reaction was to grab up their toys and go home while leaving the country to pay the price for their tantrum.
Personally, I think Pelosi needs to step down. She had no business calling for a vote on a bill as important as this without knowing it would pass. Doing so showed she's not a very good leader and needs to step aside. Its just the latest in a long line of things she's done that shows she's not exactly up to the job as Speaker.
BUT, for the republicans to throw a tantrum that the American taxpayer will have to pay dearly for is unforgivably inexcusable. I realize that many Americans don't want this bailout, but I think that feeling is born from a lack of total understanding of just how extreme the situation is, and what the cost of NO bailout would be. The collapse of our financial structures will have a fallout that will take at least a generation to recover from. We're on the precipice of imploding and if something isn't done quickly, all these people complaining about a higher tax will be finding themselves unable to make ends meet, let alone any ability to pay the taxes that will follow. The impact of this isn't going to be confined to the corrupt CEO's who ran their companies into the ground....the REAL victims will be the American populous. And for McCain to be playing politics with this is despicable. He's become a very sad and pathetic version of himself.
The fact that the average American voter doesn't grasp that full impact of this is not surprising. The fact that McCain is using that ignorance to try and gain political points is completely beyond the pale.-
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Tangent0011 year, 1 month ago
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"The fact that McCain is using that ignorance to try and gain political points is completely beyond the pale."
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So much for McCain donning his Captain Economy costume and flying in to save the day. I can't help but think if Obama had suspended his campaign and rode in on a silver horse and all this had happened, his presidential bid would be over amid charges of a messianic complex.
You are correct, McCain has become his own parody
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rads481 year, 1 month ago
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The reality is..this crisis was created by many years of Democrat supported policy... and was aggravated by repeated Democrat opposition over the years to do anything to reform or reign it in..
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THAT is too well documented to be subject to any kind of dispute.
THAT is why the democrat are now living in terror.
If this crisis isn't resolved quickly..the pressure to ask emabrrassing questions is going to be too great for even their allies in the media to cover up.
Now the chickens have come home to roost.
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coymoy1 year, 1 month ago
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Bears repeating
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YONA SOLOMON7:53AMSep 27th 2008
The Tax Poem
by BARAK OBAMA
At first I thought this was funny...then I realized the awful truth of it.
Be sure to read all the way to the end!
Tax his land,
Tax his bed,
Tax the table
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for peanuts
Anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid.
Put these words
Upon his tomb,
'Taxes drove me
to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Airline surcharge tax
Airline Fuel Tax
Airport Maintenance Tax
Building Permit Tax
Cigarette Tax
Corporate Income Tax
Death Tax
Dog License Tax
Drivng Permit Tax
Excise Taxes
Federal Income Tax
Federal Unemployment (UI)
Fishing License Tax
Food License Tax
Gasoline Tax ( too much per litre)
Gross Receipts Tax
Health Tax
Hunting License Tax
Hydro Tax
Inheritance Tax
Interest Tax
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Mortgage Tax
Personal Income Tax
Property Tax
Poverty Tax
Prescription Drug Tax
Provincial Income Tax
Real Estate Tax
Recreational Vehicle Tax
Retail Sales Tax
Service Charge Tax
School Tax
Telephone Federal Tax
Telephone Federal, Provincial and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Water Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, and our nation
was one of the most prosperous in the world.
We had absolutely no national debt, had a large middleclass,
and Mom stayed home to raise the kids.
What in the hell happened? Can you spell 'politicians?'-
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miklkit1 year, 1 month ago
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This graph explains just which politicians are causing our problems.
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http://www.brillig.com/debt_clock/faq.html -
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CaptainLucid1 year, 1 month ago
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Conmoy, you are either a retard, a liar, or most likely both. Your list of things that were not taxed 100 years ago falls into 3 main categories. The completely wrong, the irrelevent, and the insignificant. Lets start with the completely wrong like income, booze, tobacco, and property taxes. You should really try googling some of these and they can easily be easily proved wrong. In school did you learn about the whiskey rebellion of 1791. That was when a bunch of corn farmers rebelled against a tax on whiskey that you claim didn't exist. Then there is the irrevelant like no airport tax 100 years ago. Of course they didn't tax airports before they existed but what does that have to do with the bailout? And the irrelevent. If some small town wants to tax all pink umbrellas 10 cents that really does not have an effect on a 700 billion bailout. By the way lets look at one thing that was taxed 100 years ago but no longer is, VOTING.
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redbeard472291 year, 1 month ago
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Right on! I hope everyone notices that the only downword trend was when the Republicans took control of congress for the first time in 40 years from 1994 until 2002. The DemocRATS have controlled the spending for the rest of the time. The President signs the bills, but cannot spend anything without the introduction and bill approval from the House and the Senate. I just wish the people would learn to understand this.
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CRYMTYPHON1 year, 1 month ago
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While it is true that in 1908 we had no telephone taxation, I will remind you of the heavy tarifs we had for buggy whips and button-hooks.
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And why is it better for Mom to raise the kids? Is that an anti-palin slash?
Or do you just feel a man can't raise kids right?
Or maybe you just feel sort of shortened working with women?
On the plus side, I liked the 'STILL THINK THIS IS FUNNY?'
As though the reader were laughing at that dreary poem
until you brought them up short with a call to seriousness!
That's kind of sweet, in a sad sad way.
But seriously, 1909 was not a good time to live, compared to the late 20th century.
Woman are people, sorta, and have the right to work.
And don't get me started on being non-white in 1908. Ouch.
Taxes are bad, but it is better to tax and spend,
than spend without the guts to tax.
Tax cuts without spending cuts,
are only deficit spending;
deficit spending is deferred taxation;
you still have to pay the bill; plus interest.
For the last 8 years we have charged a longer war than WWII; while giving out tax cuts. This crisis is the bill; presented to America.
Yes, We can spell 'politicians'.
We can spell 'fraud' too.
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krp01511 year, 1 month ago
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Get your facts straight.
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Obama and friends did cause this mess.
Bush tried several times to put regulations on banking starting in 2001. do your fruitin HOMEWORK !
MCAIN sponsored a bill in 2005 to avert this mess.
The fruit loop Barney Frank said Frannie and Fredie was doing a good job and they were solvent. He wanted more sub prime lending. Again backdoor socialism. THE CLOWN PELOSI WITH STOGES IN CONGRESS Give more to the people who could least affordm it. Again DO YOUR FRUITIN HOMEWORK ! This mess if you do your homework and follow the real money and want the real truth will show you this is a democratic socialistic communistic mess. I am a democrate and wanted the truth i found it and don't like it. Sure the republicans are not perfect but the elected elete in thwe party of the poor line their pockets and we are still poor. FRUIT THE DEMOCRATIC LIARS.-
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Tangent0011 year, 1 month ago
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I think YOU need to do your homework. Dude anything before 2006 was a Republican-controlled Congress.
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"MCAIN sponsored a bill in 2005 to avert this mess."
LOL. McCain didn't sign on to the bill until 2006. S.190 never made it out of the Republican-controlled committee. Even the right-wing think tank AEI thought the bill was 'worse than existing law'. Have you read it? It would have allowed Fannie and Freddie to venture into even more areas of residential finance (can you say 'Bigger Bailout'?) and would have left the mortgage industry largely unregulated for a full year (repeat with me now, "Even BIGGER bailout"). -
jordan11Comment removed: Spam
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Ratskii1 year, 1 month ago
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So you're saying that the republicans are totally lame and that a minority of democrats in congress can defeat everything they try to do even though the republicans have control of the White House? Wow, you heard it hear folks, krp0151 thinks the republicans are a bunch of push overs.
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EHS1 year, 1 month ago
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I agree that the Democrats pushed loans to risky people, but greedy CEO's, hurricanes, Katrina, mississippi floods, drought, forest fires etc added to it. If Obama cared about the middle class, maybe, he, Criss Dodds, and Frank Ranes could give some millions back. We hope they can get the wording in the "bailout or loan" correct to keep socialism out of our government. If Obama gets in, do you suppose his socialist cousin, Ralia, who lost presidency in Kenya, last Dec. 07 will be at our capitol's back door? He created quite a disturbance there.
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krp01511 year, 1 month ago
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Obama's fiscal policies come right out of Carters playbook. I guess that liberals want to see stagflation again. at the end of his term there was 12.5% inflation, 18.5% mortgage, about 8% unemployment. And Obama wants to take us there again. What a plan. Of course no drilling, no refineries, no nuclear power plants. But inflate tires and spend more on things that have been under research since Clinton.
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Democrats brought us the sub prime mess as noted in the story. What is not noted is that in 2003, 2005, and 2006 the Republicans tried to get better rules and oversight for Fannie Mae and Freddy Mac. Democrats stonewalled it and said "HANDS OFF" of them. McCain said from the floor that the taxpayer would pay the bill if this bill isn't passed. He was a prophet.
Our economic woes brought to us by the no drill and easier mortgages Democrats -
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semicharmedlifej1 year, 1 month ago
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The heart ( and fact ) of the matter is that the economy was doing MUCH better than this when President Clinton was in office. Hmmmm, don't think much it would take much to have a better economy than now. And by the way? The Republicans said they were going to blame the DEMOCRATES if this bailout failed..but look who voted it down!
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rads481 year, 1 month ago
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Bitch slapping Pelosi was just a bonus to opposing a bad bill...to bail out Democrats.
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the result of years of Democrat policies..pressuirng banks to give loans to high risk lenders, encouraging the subprime loan market and resisting MULTIPLE efforts to reform Fannie Mae and Freddie Mac have come home to roost.
Democrat now live in terror.
If a bill isn't passed and soon.. people might start demanding investigations..and the democrats are screwed big time..especially guys like Barney Franks and Chris Dood,..who have opposed reforms at Fannie Mae and Freddie Mac for years. -
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jenbisca1 year, 1 month ago
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The bailout not passing is a good thing. The republican house members were asked to vote yes if they felt their consciouses would support it. -- I guess it did not. Let the dust settle and we will be fine. The bailout was for the rich at the top, nothing to gain for the average American except a big fat tax bill.
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jenbisca1 year, 1 month ago
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The bailout not passing is a good thing. The republican house members were asked to vote yes if they felt their consciouses would support it. -- I guess it did not. Let the dust settle and we will be fine. The bailout was for the rich at the top, nothing to gain for the average American except a big fat tax bill.
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rads481 year, 1 month ago
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Get a life..
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The House GOP's rejection of this bad deal was far less a rebuke of McCain than a case of them rejecting a bad deal..and bitch-slapping Nancy Pelosi for acting like an arrogant ass in her demagogic partisan speech on the house floor..
..trying to blame the Bush adminstration and Republicans when she knows full well that it's members of HER party..the Democrats..who have their fingers all over the polcies that led directly to this crisis..the Community Reinvestment Act of carter that allowed special interest groups to pressure banks into making loans to high risk borrowers, the cozy relationship between Democrats like Chris Dodd and Barney Franks with Fannie Mae and Freddie Mac..and the refusal of Democrats on MULTIPLE occassions to support reforms at Fannie Mae and Freddie Mac to prevent exactly this kind of thing from happening.
Everone knows that the democrat party OWNS this mess..and Pelosi's lying attack would ahev been too much for anyone who respects the truth to tolerate.
She deserved the rebuke SHE just got.
Have you learned anything from the experience Nancy??-
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NYC_PATRIOT1 year, 1 month ago
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You are like the millions of other sheep that just follow the herd. The community Reinvestment Act has NOTHING to do with the subprime mess. Learn the facts you jerk. It's people like you that vote blindly without the facts and put people like Bush in power. 80% of all subprime loans were made by organizations not subject to any type of federal supervision. Read the story below and do your homework before you write nonsense out. You fool.
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The http://www.businessweek.com/investing/insights/blo...
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beavith11 year, 1 month ago
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the republicans and democrats that voted against it, voted against it on principle, as they were instructed to by their leaders.
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Boehner's comment afterward was just a shot at Pelosi to shut her yap.
its not a tantrum. Paulson has said the 700B may not work. WTF? if we're going to spend that money, along with the other 300B earmarked for the two FMs, it better GD work.
its a real indictment for the democrats, along with Bush, of all people. of course, they could've swept the bill in, but without republican support, the dems would be exposed as the swine socialists that they can't help being. -
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