From a reader:
On the same day McCain pulls this stunt – and this is what it is –
President Bush will be pushing for everyone to return to Washington to
hammer out a compromise. Already, McCain is “cooked in” to Bush’s
bailout plan. Regardless if it holds off whatever crisis may happen,
it will cost plenty. Hundreds of billions of dollars, probably some to
foreign banks and other that work their way into promised bonuses and
CEO pay. All at a cost to the average taxpayer for about $10,000 per
home. And iit will have McCain’s fingerprints all over it. I
appreciate the intent here – appearing to underscore his ‘ready to
lead’ bona fides, country first, etc., but whatever comes out of
Congress this weekend will be a mishmash hybrid of the worst parts of
the S&L bailout and Sarbanes-Oxley, to the tune of hundreds of
billions of dollars. People are already fed up at all the bailouts as
it is – this one will be too much to stomach. Neither Obama nor McCain
have been doing their jobs for a year and a half – why start now?
Again, I can see the ads throughout MI, OH and PA talking about how
the Bush-McCain bailout is going to cost the average taxpayer $10,000.
Dreadfully dumb act. Thanks, and name w/held.
Update: Another reader responds:
“DDA” misses two obvious points. First, it is a near certainty that Obama will vote for whatever bill is put together, so he’ll be hard-pressed to call it the “Bush-McCain bailout” when he votes for it. Second, even assuming there is a cost of $10k per taxpayer, if that’s the cost of avoiding something akin to the next Depression, sign me up by all means. Plus, again, how does Obama run negative ads about a bill he’ll vote for?