Re: George W. McCain's Corporate Welfare

If someone, anyone borrows more money that they cannot afford to make the payments on, is that the fault of the lender or the fault of the person who borrowed the money?

"Harry Hope" <rivrvu@xxxxxxxxxxxxx> wrote in message news:egstu355fk8l26fso2eo4j7jer2mi6bmqm@xxxxxxxxxx

McCain seems to be saying "Wake me up if our system starts to
collapse."

.........................................................................................

While accepting a downward spiral of national debt, McCain said that
irresponsible homeowners are getting their just desserts when 4
million of them are facing foreclosure.

He further suggested that the ones in trouble are the people who
refuse to get second jobs.

..............................................................................................

He did come out though in favor of bailing out financial institutions
which bought heavily into bad mortgages if their troubles presented a
"systemic" threat.



From The Seattle Post-Intelligencer, 3/29/08:
http://blog.seattlepi.nwsource.com/northwestlaw/archives/135335.asp?from=blog_last3

McCain's Corporate Welfare

by Rand Koler


Would someone explain to me the difference between Herbert Hoover
('the business of America is business") and John McCain.

Hoover of course focused his attention, such as it was, on keeping
business free of regulation.

His "just wait and see" approach saw us into the Great Depression.

There are two very obvious fiscal problems facing us now:

the cost of the war and the mortgage crisis.

His answer to rapidly broadening deficits created by the war is to say
that we will continue it for 100 years if we have to and he will lower
taxes for the middle class.

This so called straight talking maverick promises even greater deficit
spending on war, as I understand it, and no end in sight.

He has no answer for the burden this puts on our economy as more and
more of our money is spent just servicing the debt created by five
years (an counting) of war.

______________________________________________________

http://brillig.com/debt_clock/

U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt as of 30 Mar 2008 at 01:29:07 AM GMT is:

$ 9 , 4 1 5 , 9 2 6 , 1 8 3 , 4 8 8 . 2 7

The estimated population of the United States is 303,713,830
so each citizen's share of this debt is $31,002.63.

The National Debt has continued to increase an average of
$1.66 billion per day since September 29, 2006!

Harry

.

Relevant Pages

  • Re: George W. McCains Corporate Welfare
    ... higher medical costs, hiring illegals, ... is that the fault of the lender or the fault of the person ... His answer to rapidly broadening deficits created by the war is to say ... U.S. NATIONAL DEBT CLOCK ...
    (soc.retirement)
  • Re: Bush has screwed the economy for a long time was --->Re: Mortgage Meltdown
    ... The only part that you left out was the consequence of the neoconservative energy strategy which led us down the path to the disaster in Iraq and which not only wasted our military but will have added $1T to the national debt by the time we are finished. ... The national debt is simply a promissory note issued by the Federal Government so that they can borrow money. ... The Iraq war will cost us half the IOUs that the government owes Social Security. ...
    (soc.retirement)
  • Re: Bush has screwed the economy for a long time was --->Re: Mortgage Meltdown
    ... The only part that you left out was the consequence of the neoconservative energy strategy which led us down the path to the disaster in Iraq and which not only wasted our military but will have added $1T to the national debt by the time we are finished. ... The national debt is simply a promissory note issued by the Federal Government so that they can borrow money. ... The Iraq war will cost us half the IOUs that the government owes Social Security. ...
    (soc.retirement)
  • Re: Bush has screwed the economy for a long time was --->Re: Mortgage Meltdown
    ... The only part that you left out was the consequence of the neoconservative energy strategy which led us down the path to the disaster in Iraq and which not only wasted our military but will have added $1T to the national debt by the time we are finished. ... The national debt is simply a promissory note issued by the Federal Government so that they can borrow money. ... The Iraq war will cost us half the IOUs that the government owes Social Security. ...
    (soc.retirement)
  • Re: OT How long can America afford deficit spending and war
    ... Depends on if one means nation debt or BUDGET deficit. ... FDR was asked the amount of money being added to the national debt, ... costs of getting into the war in Europe, he said; "We are at war for our ...
    (alt.autos.toyota)