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McCain: If Bailout Bill Fails the 'Crisis' Will Become a 'Disaster'

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October 01, 2008 12:06 PM

ABC News' Bret Hovell Reports: Republican presidential nominee John McCain projected confidence on the passage of the economic rescue bill Wednesday, saying Congress has “awakened to the danger,” in a speech at the Harry S. Truman Library in Independence, Missouri. But, the Arizona Senator predicted doom if the bill should fail.

“If the financial rescue bill fails in Congress yet again,” McCain said, “the present crisis will turn into a disaster.”

McCain listed an inability to get student loans, mortgages and car sales as some of the immediate effects of the credit crunch.

“If we fail to act, the gears of our economy will grind to a halt,” he added.

McCain largely left politics out of the speech – he didn’t mention the name of his Democratic rival, Senator Barack Obama. But, he did repeat a criticism – this time naming no one in particular – that he has in the past pinned to Obama directly.

“Of course, there are always some who think first of their own interests, who calculate their own advantage instead of rushing to the aid of their country,” McCain said.

He continued more hopefully: “But in the case of this bill, I am confident there are enough people of good will in both parties to help see America through this crisis. And when the last vote is cast, we can be grateful to all of them – Democrats and Republicans alike – for helping to solve the crisis instead of merely exploiting it.”

October 1, 2008 in McCain, John | Permalink | User Comments (59)

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McCain is saying Congress has awakened to the danger?

If so, then this awakening must have happened after McCain left Washington, because while he was there, the Republicans were rallying against the bailout.

And this is what the McCain campaign wants us to see as an example of his leadership abilities?

Posted by: Paul | Oct 1, 2008 12:12:29 PM

McCain Urges Bush To Spend $1 Trillion On Bailout -- Without Congressional Approval

I'm not making this up. John McCain today urged the Bush Administration -- on more than one occasion -- to immediately and uniliterally spend $1 trillion buying up home mortgages.

I was watching live when he made the proposal this morning, and it seemed like such a staggeringly insane idea that I assumed he couldn't be serious. He couldn't think that Bush should just spend $1 trillion without asking Congress for permission...could he?

But then I saw his economic adviser try to back the idea up, and then I saw McCain make the proposal again during the NBC Nightly newscast. So he's serious. He really thinks that Bush should just spend $1 trillion without talking to Congress, without seeking approval, without building any sort of consensus -- without getting any protections whatsoever for taxpayers.

YOU PEOPLE WHO ARE VOTING FOR THIS MAN ARE AS INSANE AS HE IS.....

Posted by: beck | Oct 1, 2008 12:14:43 PM

McCain Urges Bush To Spend $1 Trillion On Bailout -- Without Congressional Approval

I'm not making this up. John McCain today urged the Bush Administration -- on more than one occasion -- to immediately and uniliterally spend $1 trillion buying up home mortgages.

I was watching live when he made the proposal this morning, and it seemed like such a staggeringly insane idea that I assumed he couldn't be serious. He couldn't think that Bush should just spend $1 trillion without asking Congress for permission...could he?

But then I saw his economic adviser try to back the idea up, and then I saw McCain make the proposal again during the NBC Nightly newscast. So he's serious. He really thinks that Bush should just spend $1 trillion without talking to Congress, without seeking approval, without building any sort of consensus -- without getting any protections whatsoever for taxpayers.

YOU PEOPLE WHO ARE VOTING FOR THIS MAN ARE AS INSANE AS HE IS.....

Posted by: beck | Oct 1, 2008 12:18:33 PM

Call your reps and senators NOW... They will vote on this tonight!!! Don't let Paulson become a financial dictator, who is allowed to steal from YOU and your children and give to billionaires! Call, Email... NOW!!! Don't let this financial Patroit Act pass. PLEASE CALL/WRITE THEM RIGHT NOW!!!

Posted by: hmn | Oct 1, 2008 12:18:38 PM

True, the Republicans were rallying against the bailout because they want the people held accountable for what they caused and 2 of those are CEO's on Obama's payroll/election committee. The Democrats don't want themselves held accountable because then Obama won't make president because he was in on the ecomomic downfall. Wake Up! Check his voting record, he voted "Present". What in the world is that! Obama can't vote for himself he needs other crooked people to do that for him.

Posted by: sorenhawk | Oct 1, 2008 12:19:06 PM

Jake: what is wrong with your blog?? We can't read any of the blogs unless you blog in every time.

Posted by: beck | Oct 1, 2008 12:19:46 PM

A disaster? For who? The American People? Congress? Wall Street?

Posted by: John in Hartford | Oct 1, 2008 12:25:20 PM

sorenhawk: nice try... but I do believe it is McCain who personally have high paid lobbyist running his camp, who are still collecting the checks. You guys need to do better. Everything you guys throw at us daily has been proven to be lies or half truths from the McCain camp. Which in return makes him look really bad!

Posted by: beck | Oct 1, 2008 12:25:30 PM

Now he's talking about "people of good will"?

Trying to emotionalize the economic rescue plan?

Come on.

McCain, go find a retirement home and leave the economy to those who know what it's about.

Posted by: martin | Oct 1, 2008 12:29:17 PM

will he rescue the plan and make it fail again?


is he going to suspend his campaign again?


will sarah palin do any more interviews?

Posted by: Bhrandon | Oct 1, 2008 12:32:28 PM

Beck: Right back at ya! Check Obama's voting record, he always votes "Present" he can't think for himself. Like I stated, both CEO's for Freddie Mac & Fannie Mae are on Obama's payroll and if you look it up he also got funding at a lower interest rate on his own home from one of the companies that paid into his campaign. People, look up his voting record! Also, Obama lies and he has been caught many times. He states he isn't Muslim, but he was televised as saying he was! He is for socialism, so if you don't want to be told what to do and how to do it, don't vote for Obama. If you don't believe me, go to his voting record, he can't think for himself! And you want someone like that running our country? Also, in his debate with McCain, he had an ear piece in and was being told what to say! Didn't you notice how he looked like he was talking to someone! Or was he talking to himself! That's probably a good one. It is people like you Beck that will turn this country into a goverment ran socialist country. Booooooo!

Posted by: sorenhawk | Oct 1, 2008 12:38:16 PM

He made part of this happen before now he can fix it ???GET REAL Sad day for the country he pretends he is so good,.Got a little po when some one asked him if he made a mistake putting Palin on the ticket got a little temper he has....

Posted by: indp voter | Oct 1, 2008 12:42:07 PM

Juan McNutjob doesn't know his thumb from his, never mind at his age it doesn't make any differance. You can put lipstick a wig and a thong on the bail out and it's still a bail out. You can do all the PR and spin you want, all the talking heads are for it, yeah, because thats there bussiness, there in Wall Street.

Ex Republican

Posted by: RGeier | Oct 1, 2008 12:44:38 PM

Will someone PLEASE tell the American people the TRUTH? Is this a good bill or a bad bill? Is the economy really that f**ed up that we have to fork over so much money? Where will the money really go? Who will benefit and who will fall into a pile of s**t? Who is really responsible for this mess? Democrates blame Republicans and Republicans blame Democrats...and almost everyone blames Bush. This is probably the ONLY truth we know so far.

Posted by: yvonneh120952 | Oct 1, 2008 12:45:27 PM

The "present" vote in Illinois is sometimes cast by state lawmakers with a conflict of interest who would rather not weigh in on an issue. Other times, members use the option to object to certain parts of a bill, even though they may agree with its overall purpose.
sorenhawk: Maybe you got back and do more fact checking.....Oh this might help you also.

"The 'present' vote is used, especially by more thoughtful legislators, not as a means of avoiding taking a position on an issue, but as a means of signaling concerns about an issue," said state Rep. John Fritchey.
Obama sponsored 820 bills in the Illinois State legislature. So much so that the Illinois Times featured him in a cover story naming him HEAD OF THE CLASS for his legislative abundance.

Posted by: beck | Oct 1, 2008 12:47:50 PM

sorenhawk: This might help you out a little...

The "present" vote in Illinois is sometimes cast by state lawmakers with a conflict of interest who would rather not weigh in on an issue. Other times, members use the option to object to certain parts of a bill, even though they may agree with its overall purpose.
"The 'present' vote is used, especially by more thoughtful legislators, not as a means of avoiding taking a position on an issue, but as a means of signaling concerns about an issue," said state Rep. John Fritchey.
Obama sponsored 820 bills in the Illinois State legislature. So much so that the Illinois Times featured him in a cover story naming him HEAD OF THE CLASS for his legislative abundance.

Posted by: beck | Oct 1, 2008 12:48:46 PM

sorenhawk: You are as bad as McCain, now I can see why you are for him....

Posted by: beck | Oct 1, 2008 12:50:55 PM

Strange, but I haven't heard any Republicans who voted against the Bailout say it was because of Obama that they voted against it, or because of Acorn, or because of Obama's campaign advisers and I haven't heard them blame anyone on Obama's team for causing the financial crisis this country is in. They have all said "there is plenty of blame to go around" meaning that the Republicans themselves are as much to blame as anyone. Why are you nitwits who don't even understand the problem so quick to blame everything on Obama? Like he is the person responsible for every single disastrous event this country has experienced in the past 8 years. Sure, blame him for Katrina, too!! Please, don't hesitate to correct me if I'm wrong, but is it not Bush/Cheney who have been running the show during this period of time?

Posted by: geecee | Oct 1, 2008 12:51:56 PM

Beck:

"The 'present' vote is used, especially by more thoughtful legislators, not as a means of avoiding taking a position on an issue, but as a means of signaling concerns about an issue.
IN OTHER WORDS, CAN'T THINK FOR HIMSELF! He is afraid of voting in case he makes the wrong decision because he doesn't know what he is doing, so of course vote "Present" that's the easy way out instead of working to find the right answer.
That is usually how he always votes and he also voted "Present" on the economic bill, so where is the change? Has anyone actually heard Obama mention what change?
BECK: Oh & by the way, you don't have to send the message 2 times (kind of looks bad for you too)

Posted by: sorenhawk | Oct 1, 2008 12:56:26 PM

geecee: Get a clue, that is why no one has brought it to the american's attention because most of the stations are only broadcasting or reporting sound bites in Obama's favor so not too many people know that Obama is behind alot of this. Check Fox News once and you will get all the information that is true and factual. This station is only for the Democrates who only look out for themselves as you can tell by the economic mess they got us into. Like I stated Obama has both CEO's that caused this mess on his payroll. Check out Fox News! Obama says he is for change but can anyone tell me exactly what he means? He just says that he is for change, how do you know if it is good or bad.

Posted by: sorenhawk | Oct 1, 2008 1:00:42 PM

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