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The Note: McCain Seeks One More Storyline

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October 14, 2008 8:33 AM

ABC News' Rick Klein reports in Tuesday's Note:

So the Dow won its points back -- where does Sen. John McCain go to get HIS points back?

He's a day late, and $7.5 billion short (as measured by price tags). After realizing that it's all about the economy -- then seemingly forgetting it -- and after saying he would unveil new economic proposals -- then saying he wouldn't -- Team McCain on Tuesday turns the page back, again, to the only issue that's likely to really matter between now and Election Day.

Maybe Sen. Barack Obama really IS right where McCain wants him. (But maybe, since he spent Monday in Virginia and North Carolina, McCain was where Obama wanted HIM).

Assuming McCain, R-Ariz., hasn't precisely been where he wanted to be, this may be his way only way back -- with only a few detours, as arranged by Bill Ayers. His next step comes on a day where investors look to breathe again -- as he hopes that the public takes one more deep breath before Election Day.

From the McCain campaign Tuesday morning: "John McCain will address the ongoing economic crisis, with a special emphasis on those most badly hurt: workers, homeowners, savers, and seniors. He will announce specific proposals to build on his Resurgence Plan, which uses the $700 billion to keep Americans in their homes, stop the drop in housing values, stabilize financial markets and turn the corner on the crisis by charting New Directions for Workers, Seniors, and Savers. Unlike Barack Obama, John McCain understands that in a crisis raising taxes is an especially bad idea."

Read the rest of The Note -- and get all the latest on the 2008 election, Congress, the White House and the wide world of politics every day -- from Rick Klein by bookmarking this link.


The details, per Reuters' Steve Holland: "McCain will propose that seniors pay a maximum tax rate of 10 percent on money they withdraw from IRAs and 401(k) retirement plans in 2009 and 2010, instead of paying the current higher tax rate." 

"[Doug] Holtz-Eakin said McCain will also propose relief for Americans who are 'aiming toward retirement' and were counting on investment income to send their children to college or pay the mortgage. Internal Revenue Service rules say Americans can only deduct $3,000 in stock losses in any given year. McCain would expand that deduction to $15,000 a year for the tax years 2008 and 2009."

"We've got help at all levels of society, not just at one," former mayor Rudy Giuliani, R-N.Y., told ABC's Robin Roberts on "Good Morning America" Tuesday.

As for the shift in campaign tone: "They have great disagreements -- a lot of respect for each other -- but real disagreements," Giuliani said. "My advice to him is that he just has to get his message out."

The biggest thing going in McCain's favor is also his biggest enemy: time. There's not enough of it left to force a major shift in the race -- but there's just enough of it to cram in another storyline or two. And that demands more than one candidate.

Continue reading today's Note by clicking HERE.

ABC News' Hope Ditto contributed to this report.

October 14, 2008 in Biden, Joe, Clinton, Hillary, Giuliani, Rudy, McCain, John, Obama, Barack, Palin, Sarah, Vote 2008: Democrats, Vote 2008: Republicans, Washington, White House | Permalink | User Comments (75)

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People do you know anything about Mccains healthcare Policy? Well this is what I know Mccain is gonna TAX our Healthcare Benifts! as If it were Income,Under A Mccain Administration we may lose our Health Benifits That our Employers provide, Then Mccain wants to run the Health Insurance Industry like the Banks with NO REGULATION! He does propose a 5000 dollar Tax credit, But we do not see that that goes to the Insurance company Everyone knows it cost more then 5000 dollars for a family plan! so the Taxing thing Mccain is going to Tax us but in a SNEAKY WAY! we are doomed with that Healthcare Policy!

Posted by: angie | Oct 14, 2008 9:31:27 AM

McCain on the Economy: "I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated."

And who is educating him? Phil Gramm,
the same guy who gave us the enron loophole, and in July explained the nation was not in a recession, stating, "You've heard of mental depression; this is a mental recession." He added, "We have sort of become a nation of whiners, you just hear this constant whining, complaining about a loss of competitiveness, America in decline."

I guess it's all just in our minds.

Posted by: Concerned American | Oct 14, 2008 9:36:07 AM

Read this article --
http://www.rollingstone.com/news/story/23316912/makebelieve_maverick/print

and you'll be decded or affirmed about who is 'right' for the POTUS. Really.

Y'know, if the MSM ran this or asked about any of the contents (some of which is from McCain's book) you'll certainly see why everyone's sooooo angry around the GOP.

Posted by: d scott | Oct 14, 2008 9:36:43 AM

Have you seen these Republican rallies? I believe the term Republican is on the verge of becoming a disparaging descriptor not unlike hillbilly, hick, or red neck

Posted by: Mike | Oct 14, 2008 9:38:21 AM

-- People do you know anything about Mccains healthcare Policy? --

Yes.. his plan involves deregulating, taxing employer provided health insurance to encourage a shift to private coverage, and an across the board tax credit regardless of income level. Like his tax plan, his health plan favors the wealthy and would result in more Americans losing health care.

http://www.epi.org/content.cfm/pm126
http://online.wsj.com/article/SB122152292213639569.html

Posted by: Concerned American | Oct 14, 2008 9:39:03 AM

McCain will continue to pander for votes....the problem is he has no credibility on the economy...He comes from a long history of hands-off, your on your own perspective making any regulatory or help for the middle class seem less than sincere. He has done it before (remember the gas holiday proposal?).

Posted by: indy_voter | Oct 14, 2008 9:40:07 AM

Nice that McCain is taking a somewhat serious shot at the economy today. But his proposals are merely a weak copy of Obama's plans and aren't being paid for with McCain's "no new taxes" pledge. Is he really that enamored with deficit spending?

http://www.political-buzz.com/

Posted by: matt | Oct 14, 2008 9:41:00 AM

Jesse Jackson just announced that, although "Zionists who have controlled American policy for decades" remain strong, they'll lose a great deal of their clout when Barack Obama enters the White House.

"Obama is about change," Jackson told me in a wide-ranging conversation. "And the change that Obama promises is not limited to what we do in America itself. It is a change of the way America looks at the world and its place in it."

Basically, the message to Israel is--prepare to hand over all of Jerusalem to the Palestinian Authority, and prepare for a great flood of terrorist attacks on your civilians from Hamas and Iranian-funded Hezbollah. And if you try to retaliate against Iran or Syria, Iran will nuke you with the "Fire of Allah." America will NOT defend you. Your suffering and destruction are your own fault, Zionists.

Posted by: Hezbollah Loves Hope and Change | Oct 14, 2008 9:41:33 AM

This campaign is difficult to choose.

Do I choose a "Token Negro" Obama. One that has gone to white schools all his life, a child of a mixed racial family, with questionable birth records, no leadership experiance at all, no real job history, but can talk the talk. Who's only claim to fame is a few books he wrote - due to not being able to find other work ??

Or do I choose John McCain, a war vet - who betrayed our country, and caused hundreds of american vets to die, in Nam. He did come back, turned his life around (the only way he knew how), and has been a fighter every since. Yes, his education is not so good (bottom of class at most schools), and his history as a maverick is well known. Yes he is old, and has cancer. But experiance is the best teacher, he does have that. He has written books, done several movies, and been a senator for along time. Is he elite, perhaps not, but he is a fighter.

We need a fighter, not a talker. Yes McCain has a few issues, but what vet doesn't.

Sorry but after working, in the good (the elite for 12 years, growing up) and the bad (several years in slum neighborhoods in NC - and 6 years as a vet overseas) portions of society.

I must choose the fighter - McCain has my vote.

I have seen the talkers, they die in battle. The fighters, keep on fighting, and eventually win.

Posted by: John | Oct 14, 2008 9:41:43 AM

I don't know about a lot of the polls and if they are correct. But I also know that I live in the heart of the Republican stronghold in Michigan. Democrats never even run for office where I live because they never win, people always vote for party. I have to say that I have seen more yard signs for Obama than I have ever seen for any candidate in a very long time. And he has a campaign office in my town! That would be like John McCain setting up a campaign office in the south side of Chicago.

Posted by: gina | Oct 14, 2008 9:41:48 AM

I think Mccain thought this Election was going to be about Foreign Policy, because he is truly clueless and lost on Economic Issuses. 2o something days away and he still does not have a plan! no way no how no Mccain!

Posted by: angie | Oct 14, 2008 9:44:21 AM

Thank You John for highlighting my point

Posted by: Mike | Oct 14, 2008 9:46:55 AM

My friends, I am an angry old hypocritical dumbass. Now, can I please go home to one of my ten homes, put up my feet, and catch up on Matlock? 'Cause I'm tired of Obama cutting the rhetorical cheese in my face. - John "Grandpa" McCrankypants

Posted by: balthus | Oct 14, 2008 9:47:47 AM

McCain will win this election. In 2004,Hollywood and the media thought they have given Bush a trashing.

ACORN is not the enemy but it should direct its efforts to jobs creation and generating wealth through renewable natural resources.

Palin will lead this country to energy independence and thereby reduce U.S. trade deficit to zero. This drive will create jobs in many sectors including car makers in Michigan as they usher in the natural gas/electric hybrid. Palin's pipeline can live with First Nation desire for money for their tribes but minimize its disruption by being ready for alternate delivery from the southernmost border of Alaska.

Posted by: vir | Oct 14, 2008 9:52:11 AM

The rudderless ship seeks one more time to chart a direction for itself. The McCain ship never seems to make complete circles, but does zig zag its way along to November 4th. The dry dock is awaiting the McCain sailing ship. The campaign has become a colossal failure in bringing fourth any sound proposal as McCain surrounded himself with lobbyists, not high minded bright subject matter experts.

Posted by: Lou R | Oct 14, 2008 9:55:27 AM

Posted by: jjpower | Oct 14, 2008 9:55:58 AM

Yes, the race may be close, but I think all the signs point to Obama winning. And it's not just he polls that make me think so.

For the first time in decades, every single independent I know is voting for the Democrat. It's not that they're keen on Obama but because they no longer respect McCain. Because they despise Palin. Because they loathe what the Republican Party has become.

My 85-year-old father, who has voted Republican since 1972, is voting for Obama for the same reason as my independent friends.

When people like that abandon the Republican party, I don't see how McCain can win.

Posted by: Kate | Oct 14, 2008 9:56:04 AM

To comments:
Mike- Bwaaaaahahahaha!!!!

John- Dood! You are soooo off-base it is astounding! McCain had his shot vis-a-vis the VP spot but blew it 'cuz of his Keating 5 troubles. Now, to make up for it (and apparently make good in the eyes of his dead but upstanding Admiral patriarchs) he thinks he can "fail forward" again in life. This time, taking all us with him? I think not.
Obama is as American as apple pie and, if you look at the demographics of our good ol' USA, his IS the face of our country. Putting him first will be the best thing we've done here since Ford started making cars in production lines.
I'm just sayin'

Posted by: d scott | Oct 14, 2008 9:56:20 AM

a registered voter be it fkladfj or asdfjkal;ksdfj

both of them probably wont vote

and they are taken off the voter rolls as soon as they dont get a confirmation from teh voter.

so while registering non existent people is stupid and should really be stopped, teh chances of them voting are extremely unlikely...

however the republicans love to let dead people vote.

This acorn story is essentially a non issue

im suprised more of you righteous make sure all ties and dealings with a candidate are 100% on the up and up republicans

arent making a bigger stink out of sarah palins abuse of power and her violation of ethics...

but i get it, if you really cared about personal ties you would be all over palin, but you dont really you just wnat to try to discredit obama

Posted by: Bhrandon | Oct 14, 2008 10:00:18 AM

Under Obama, Reid, and Pelosi, the prospects of passing the liberal agenda would be bright. You can forget about bipartisanship.

Start with "card check." It would permit organized labor to unionize the private sector without winning a certification election by secret ballot. It's easy to get workers to sign cards saying they want a union, but it's hard to get them to vote that way when labor organizers aren't hounding them. Card check is labor's last hope for more dues-paying union members. More mandatory dues mean more Big Labor campaigning for Democrats.

Unions simply aren't popular and neither is card check. But it passed the House last year, only to be blocked in the Senate by a Republican filibuster. In 2009, with Washington controlled by Democrats, it would sail through Congress and President Obama would sign it. After all, neither Obama nor congressional Democrats have bucked organized labor even once.

Then Democrats will eliminate a longstanding target of big labor, section 14(b) of the Taft-Hartley Act. It allows states to enact right-to-work laws, which bar workers from being forced to join a union. Twenty-two states have right-to-work laws. Prepare for massive out-sourcing of jobs, and loss of business to foreign firms.

The liberal scheme for killing conservative talk radio--the so-called fairness doctrine--would stand an excellent chance of becoming law. It would require radio stations to offer equal time, for free, to anyone seeking to reply to broadcasts featuring political opinion. To remain profitable, many stations would have to drop conservative talk shows, a major medium for communicating conservative ideas, rather than give up hours of free time.

Obama would fill Supreme Court vacancies with liberals --no doubt about that—and they'd be confirmed easily under a filibuster-proof Senate. As a senator, he voted against John Roberts and Sam Alito. And free trade agreements would become a thing of the past, given liberal and labor opposition. Prepare for more foreign barriers to US-made goods.

What about Obama's health care plan? He's described it as step or two away from a single payer, government-run health system like Canada's. While expensive, its chances of passage would be very good.

So is cap and trade. It would drive up the cost of energy, another downer for the economy, but Democrats believe it's necessary to save the planet. Besides, the environmental lobby would demand cap and trade's enactment. And environmentalists have as tight a grip on Democrats as labor does. Obama has never crossed environmentalists. Prepare for higher gas, heating, and electric prices—and reduced oil and gas drilling. Nuclear power will not expand, but be reduced. Prepare for more blackouts.

As for foreign and national security policy, there'd be nothing stopping President Obama from doing what he wanted in a liberal-dominated Washington, including a quick troop exit from Iraq and presidential-level talks with anti-American dictators. Congress would go along. The media would cheer.

Enjoy the glorious Obama revolution, Comrades.

Posted by: The People's Republic of Obama | Oct 14, 2008 10:04:44 AM

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