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McCain Did NOT Really Say That, Did He?

By Chip Hanlon | October 09, 2008 | 9:32 AM | 10 CommentsTweet This

Nearly 3 weeks ago I predicted John McCain's lack of anything resembling an economic philosophy--let alone one related to small government-- would lead to his undoing in the polls.

Ok, that has happened and this election looks to be all but over. In Tuesday's debate, however, McCain took his fiscal silliness to a new level: suggesting that if he were elected, the federal government would buy back any mortgage worth more than its home.

WHAT?!

Why on earth would any current homeowner continue paying his mortgage if he knows taxpayers will take on some of his debt it he stops?

McCain's economic ideas are getting more and more ridiculous. They're no worse than Obama's but they'e no better, either, and he needs to be better-- a defender of free markets and individual liberties, not a statist with a competing set of big government "solutions." Otherwise, he tacitly endorses the New Deal-like legislative agenda we're likely to see next year.

After watching his perfomance in that debate, I've decided there's no way I can vote for John McCain, sad as that is to say. This will mark the second straight Presidential election in which I will not have voted for the Republican candidate, as the GOP continues to betray its own small government principles.

Comments (10)  |  Related Topics  » | |

 
Maybe he'll get some much

Maybe he'll get some much needed votes from that idiotic comment?

Submitted by CFous on Thu, 2008/10/09 - 8:39am » reply |
 
Exactly! What better way to

Exactly! What better way to make the conservative base more despondent than to embrace socialism as a response to all our problems.

Submitted by Michael Pento on Thu, 2008/10/09 - 8:49am » reply |
 
No Strong 3rd Party

Chip the problem is the Libertarian or Constitutional (Small government) parties are not strong enough to provide an impact to the two party (same liberal philosophy) parties that control our politics today.

Submitted by Jerry Slusiewicz on Thu, 2008/10/09 - 12:44pm » reply |
 
From the practical

From the practical standpoints of money and organizations which reach into every precinct in the country, you know that 3rd parties have no practical hope of having any impact, Jerry. The only solution will have to be a revolution of thought and leadership within one of the two major parties.

 

Submitted by Chip Hanlon on Thu, 2008/10/09 - 1:08pm » reply |
 
Be a Leader, Not a Follower

We can either be leaders, or followers. Dr. Cleon Skousen, one of the leading Constitutional experts of our era, said that during the early history of the United States, it took about 3% of the population to "get it" and lead the way. The rest of the population followed.

In fact, at the Constitutional Convention, only a small handful of the Founders proposed a new Constitution. The rest complained that their states hadn't authorized them to rewrite the Articles of Confederation, and they were initially strenuously opposed. However, when this small handful of Founders, including Franklin, Washington, and Madison, argued that the Articles of Confederation would ultimately fail, the others were persuaded to change the world. The rest is history.

Leadership requires a willingness to lead the way into bold new territory, as the Founders did. We will never be able to stuff new wine into the old bottles of stodgy old Parties. Let us take up the mantle of statesmanlike leadership, like the Founders did, and lead the way BACK to the principles that made this nation great! We don't need change for the sake of change; we need to RETURN to the fundamentals (principles) that made this nation great!

Like you, I can no longer feel good about voting for people who don't support correct principles. I don't vote for power; I vote for principle. Voting for someone who doesn't believe in correct economic principles only leads to further erosion of those principles. I don't vote AGAINST someone; I vote FOR someone. Since I began doing that, I've had a clear conscience.

What better way to get the attention of the Republican Party than to refuse to support that Party when they veer from the parth of prosperity economics. By continuing to vote for them when they abandon those principles, we ultimately send the message that we will support them regardless. Why should they listen to us when they can ignore us and still count on our votes? This only allows them to take us for granted.

If we are true leaders, we will stand steadfastly for priniciple regardless of what the sheep do. We'll lead the way instead of following the path of least resistance!

Submitted by sbenard on Sat, 2008/10/18 - 11:57am » reply |
 
Down The Rabbit Hole

I felt like Alice going down the rabbit hole when I heard McCain make his unbelievably ill advised call to buy the mortgages. Couple of days later he repeats it while Obama (rightly) points out how silly this is.
I too had been planning to hold my nose and vote for McCain but given this latest I cannot.
I will instead be spending my time taking out a mortgage on my currently free and clear home so I can walk away from it. Why not....seems the government wants to bail everyone out and I hate to miss the party.

Submitted by Anonymous (not verified) on Thu, 2008/10/09 - 2:59pm » reply |
 
Ditto!

I could hardly believe my ears during that debate when McCain said he wanted to prop up the real estate bubble! What effect will over-inflated real estate prices have on first time homebuyers for many years to come?

You also raise an important isssue that is often overlooked:

Why should ANYONE pay their mortgage when their neighbor across the street may get a bailout, have their interest rates reduced, and their principle lowered? Everyone will be motivated to stop paying their mortgages and join the big government bandwagon!

Article 1.10.1 (the contract clause) of the Constitution guarantees that existing contracts will be honored and supported. Why would ANYONE consider putting up money for an investment in a mortgage when they know the government may take over and change the terms of that agreement at any time? Many investors, including myself, have exited the markets because constant, daily government meddling has made the financial markets so chaotifc that we don't dare invest.

By abandoning this principle (the contract clause of the Constitution), we once again drive a nail in the coffin of time-honored correct principles, and instead, lead ourselves foolishly down a rat (rabbit) hole of uncharted territory. We think we have greater wisdom than the time-proven principles that made this the most prosperous nation in world history.

I hope that generations from now, our descendants won't look back at us as the generation that destroyed our civilization thinking that we knew better, but didn't! But that appears to be the direction we're headed!

Submitted by sbenard on Sat, 2008/10/18 - 11:55am » reply |
 
Ross Perot '08

Ross Perot '08

Submitted by jgpietsch (not verified) on Fri, 2008/10/10 - 9:17am » reply |
 
What happened to Reagan's

What happened to Reagan's 11th amendment:

Thou shalt not speak ill of another Republican.

McCain sucks less than Obama. How is that?

Submitted by F Lee (not verified) on Mon, 2008/10/13 - 4:29pm » reply |
 
Nice sentiment for a healthy

Nice sentiment for a healthy party. Ours is dying, however, and it's time to pick a nasty philosophical fight within it in order to save it, friend.

Submitted by Chip Hanlon on Mon, 2008/10/13 - 11:45pm » reply |

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