Face the Nation: McCain Won't Back Stimulus Bill

[azzy1965]

Add the 1.2 trillion dollars to the how many trillions of dollars Bush spent on NOTHING.. Wake up people, what mccain is doing here is trying to make the people forget what Bush did to this country....

[VonDelacroix]

people are so bilnd, its rediculous. We finally have our first black president, the days of slavery are finally over. and it only cost us our freedoms and one hell of a great country. Obama's answer is to throw money at it, like that ever worked. FDR tried that, and it didn't work to well, in fact WW2 probably helped us with the depression more than that fool ever did. So I guess we should thank the Japs just as much as the jews should, Japs, thanks for your contribution.

[chalomirof63]

I also thank God this clueless old fraud didn't win. Imagine: as we're on the precipice of The Great Depression II, continuing to blindly and stupidly call for the same irresponsible policies of tax cuts and deregulation that got us here in the FIRST place! This is not rocket science. And Bob Schieffer: to think I used to respect and admire this guy!! Just another schill for the Lunatic Fringe!

[mickeysears]

Well I guess that you don't understand rocket science, economics, or politics. How can you say it was deregulation that got us into this mess when, in the years before and during the collapse, we have never had more regulation in American history? The Federal Reserve Bank, FHA, FDIC, SEC, and FTC have more power now then at any other time in history. It doesn't make any sense to say deregulation was at fault when all government does is pile more regulation on.

[element13131]

Profits are the key to economic recovery. Profits and losses are signals in a market economy. Huge losses in the financial sector signal that that sector needs to shrink. Instead they talk about buying and insuring toxic assets. They think they can force the financial sector to lend. But if you're not profitable then it makes no sense to lend. This is a big bill, but not a big stimulus. It is a simple transfer of money from one set of people to favored interest groups of the Democratic Party.

[samwestonpotter]

It's so obvious that the Dems have a hidden agenda with the massive amount they want to spend. Why can't they agree to something more modest? Why not try a 400 billion dollar stimulus and see how it goes? Why spend more than we need to? It's simple... this goes beyond merely stimulating the economy... it's all about power. The Dems want to be able to call all the shots and have more government control. Bipartisan my eye.

[carplake2006]

Okay, let's eliminate the tax cuts, which would save us about 300 Billion. DUH!

[voxsingularis]

US out of UN

UN out of US

[freesk8]

It will create inflation and that hurts the poor more than the rich.

Also, the stimulus money must come from somewhere. Eventually, there have to be taxes to cover it. This will come from the private sector.

Because the government is less efficient at creating jobs (overall) than the private sector, any money taken out of the private sector and spend by government will create fewer jobs. This is the net destruction of jobs I refer to above.

The best govt. can do is get out of the way.

[sandmanhopes]

not for country now is he flip flop king Mcsame

[freesk8]

I did not vote for McCain, but this IS pork.

It won't create net jobs because it will destroy more jobs in the private sector than it will create.

The printing of money that pays for the "stimulus" will lead to inflation, and this will hurt the poor more than the rich.

I'm not a Republican, but the stimulus is really bad policy.

[freesk8]

Right on!

No, Obama is not listening.

Cato ran an ad in the Wall St. Journal that had 140 major economists from about 100 top universities (including two Nobel lauriates) who all signed it and it said that what we need is less government spending (not a "stimulus") and more tax cuts.

But in Obama's address today, he tried to claim that economists on both sides of the aisle advocated increased government spending.

Such sophistry.

And Obama was going to listen to both sides of an issue.

[landsolo]

hey mccain, dont know if you are up to speed on the new program, but we all know you sold out with your monkey palin to try and get elected and nobody really cares what you think anymore. you dont know shit about the economy as you admitted, so go back to what you were doing before, trying to get your tongue out of bush's ass now that he's not president anymore.

[fpm229]

You fucking blubbering idiot. Have you not learned anything at all in your 30 plus in government? Hows about you take a step back and look at the damage done by Reaganomics. You sound like Bush when he said - fool me once shame on.. blah, blah, blah.

Jesus Christ - Please rid me of these fucking self-serving partisan morons in my so-called government !!!

[hideflolife]

@freesk8,

Can you post a link to the NYT ad and the Nobel Prize economists that recommend against the stimulus.

Also can you be more specific on which tax cuts you're talking about that will spur spending.

I think you're blowing soke out your ass. Talk specifics and I might actually believe a word you say.

hdll

[freesk8]

Here is the Cato ad.

It was in the WSJ, not the HYT.

dubdubdubDOTcatoDOTorg/fiscalr­eality

Marginal income tax rate cuts.

But you won't believe me anyway.

And you won't hit the Cato link, either.

[hideflolife]

Actually, let's try not doing a stimulus and see how far in to the dark ages we can get. Let's see how many people can get laid off before a civil war starts. Would make for a very interesting summer. Afghanistan, here we come, ready or not.

[spandress]

John McCain is an idiot. He graduated at the bottom of his class, he crashed his fighter jet multiple times. He has admitted during the campaign he does not understand economics. I don't give a damn what John McCain thinks because he is nothing be a wealthy, dynastic piece of crap.

[pedro270569]

mccontradictions in action

[gkhelsinki]

so which one is better: obama and his stimulus plan or mccain and his brown nosing on bush??? mccain didn´t say shit when Dubya ripped all the americans out of their savings to kill people in iraq... personally I think the stimulus pack wont solve anything but it´s a start. war on "terrorism" sure as hell didn´t help america in anyway!!! instead we now live in a fasist world where everything is soon restricted. bush caused more death and destruction then any terrorist during war on terrorism.

[Joe402]

lmao he lost gtfo McCain

[sungmee45]

I rather see the congress spend more time and come up with a plan, that really work and not rush and make another mistake to many, which they have been in the pass. I will never believe their well written speech. Their action never justifieds any way. I want no talk and more action. All I see, they want to give elite more power and control. Future generation, where is that generation. They are destroy any future generation. We the people are not willing to awaken and start speaking out.

[beckpod1]

It's mostly the same plan he was going to offer as a candidate...he is such stupid old fart!

[cleo1994]

If you're employed, and if you get a tax cut, what would you do with the extra money?

1. Would you pay down your loans?

2. Save the extra money for a rainy day?

3. Spend it all?

If you choose options 1, 2, or a combination of them, I can't see how tax cuts will create/save jobs, can you?

[tjtube65]

Thank you. People need JOBS. If I don't have a job, I AIN'T PAYING TAXES! And if I don't pay taxes, I don't get a tax break anyway!

[greenfive]

McCain it is 2009 not the 1930s.

[OzStone]

McCain: It's okay to spend $3 trillion on Iraq, but not ok to spend $1 trillion on our country.

We don't need tax cuts. We need spending.

[OzStone]

I'm so glad this man isn't our President.

[freesk8]

Why the heck did he back the stimulus bill when he was a candidate for president, but now he opposes it?

He is right now, it is a very bad bill, and bad policy, but he has no credibility with me.

He backed it when he thought it was politically expedient to do so, and now he opposes it not for economic or moral reasons, but because he perceives it to be politically expedient.

Where was he when we needed him?

By the way, I did not vote for Obama.

[DeadlyChinchilla]

Economists across the board agree that the gov't must increase spending to stimulate the economy. This is practiced economics, not guess-work. The Republicans are digging for respect, but they're not going to get it by promoting the same economic stupidity that got us into this mess in the beginning.

You cannot STOP spending in a stifled economy. There's a reason they say the gov't is the "spender of last resort," because they MUST when no one else is.

[freesk8]

Economists do NOT agree that the government should spend more. About 140 economists, some with Nobel Prizes, signed a petition that appeared in the Wall St. Journal to say just the opposite.

The spending is coming from printing money out of nowhere. This will create inflation that will hurt the poor much more than the rich.

The spending will have negligable "stimulus" effect. It will increase the debt and delay the recovery.

It is bad economic policy. We need to cut spending and taxes.

[DeadlyChinchilla]

You will always find descent, thats not unusual. However, we're talking about an unquestionable situation... we ARE in a worsening recession. This is a fact. There are proven methods of reversing recession, or at least avoiding full blown depression, & those include gov't spending on things like infrastructure, creating gov't jobs.

What will create a negligable effect of stimulus is giving any of the bill to tax cuts, which have little effect on job creation. Its been done, & failed.

[freesk8]

This is not just dissent, it is top-flight economists saying that it doesn't work.

Government spending destroys more jobs in the private sector than it creates in the government sector, for a net loss in jobs.

Govt spending takes years to kick in, but a tax cut works instantly, as people spend more in anticipation of the tax cut.

Govt is more inefficient than the private sector, so more money spent by govt reduces employment over what would have been.

And govt. spending creates inflation.

[DeadlyChinchilla]

You neglect to mention that jobs are being LOST at record rates in the private sector. If the gov't doesn't stimlate with this bill, that trend won't change.

Tax cuts are a bandaid, and this is a cut artery.  They've used tax cuts for years to draw people in, but they're nearly useless in any sense other than a 'feel good' political move.

We've had years of out-of-control inflation, a good 2 decades of it, and NOW you're worried about it? Its another part of that cut artery.

[freesk8]

The government spending will not change the trend.

Tax cuts may be a band aid, but increased government spending is a razor blade. It is the spending that is a "feel good" political move.

Inflation was between 1 and 4% for the last two decades. That is minimal. It was out of control in the '70's. I was not worried about it then. I'm worried about it now because printing money and artificially low interest rates are the causes of inflation. Inflation hurts the poor more than the rich.

[mickeysears]

There are many that debate government spending is the cause of a worsening recession and depression. During The Great Depression of 29 Hoover tried spending and credit and FDR not only continued it but accelerated spending and credit and we were in depression for over 10 years. Many say that if the US did nothing instead, it would have lasteed bearly 3 years.

[DeadlyChinchilla]

Hoover had a "do nothing and it'll solve itself" attitude, and LET the Great Depression spiral as it did. Only when people saw a glimmer of hope, and Roosevelt instituted gov't support programs and spending did things finally halt. Then, it took about 3 years for unemployment to go from 23% to 12%, which is a MASSIVE improvement in any political sense.

If the US does nothing, things will only worsen. All economic lessons point to this fact.

[mickeysears]

Hoover tried stimulas and expanded government regulation. He believed banks caused the depression and used that to push through the big government, "Smoot-Hawley Act. Which considered by many to have hurt and drove jobs away. He was facing a deflationary depression. Food prices were falling and farmers suffering. The response was to prop up food prices to help profits. Substitute homes for food and see we're doing exactly what they tried back then. It didn't work then and it wont work now.

[freesk8]

FDR made the depression about seven years longer than it otherwise would have been with his spending and over-regulation.

Without the New Deal policies of FDR, it just would have been a deep recession.

Now they are talking about a NEW New Deal.

As if we haven't learned from history.

I guess we are doomed to repeat it.

[andrewh23]

This guy pushed the bank bailouts as strongly as everyone else - well not the American people. I wish he'd make up his damn mind.

[xTheOxx]

Hearing neo-con apologists like McCain lament the toll on future generations makes me want to stick pencils in my ears. Or his.

[rogulet666]

How can the neo-con-artists call for bi-partisanship. They vote along party lines always. And their pandering pick for head of RNC should anger most moderates and only fuel the left, good job. And this songbird loves to sing don't he? lol

[retired77070]

THERE IS NO MENTION IN THE STIMULUS FOR THE FOLLOWING:

1. No money to finish US/Mexican border fence.

2. No money going to ICE. Seems like if ICE had more money there would be more busts at work places and this would create job openings.

3. No money going to E-verify.

One would think that with the drug wars happening along our border towns, the American people would be demanding that Obama address this issue in the stimulus package.

[Octstorm]

Your 15 is over

[mcgloinm]

Well, if it isn't flip-flop; ExxonJohn. As the old actor said, "here we go again.

[ooolikujy]

please someone tell me, why don't these republican bastards sucking money out of the public tit just work for free or quit. I mean if the problem is the size and expense of government the obvious solution is to reduce the size of government. mcsame IS the government...

[hippieCy08]

Wasn't the point of defeating him meant not seeing his stupid outdated talking point out of mainstream media?

McCain in his words: Does not Understand the Economy.....the Fundamental of Our Economy is Strong.

.....who wants to take anything he brings seriously?

[GreatBigChangeComin]

LMAO, no John, the change we wanted and got was to kick the fucking Republicans out, not to be one big happy family with you assholes. Buh-bye!!

[GreatBigChangeComin]

Why we didn't beat this guy by more I'll never understand but thank GOD we did. Moron, and totally dishonest as he showed us in NEON LIGHTS with his shoddy campaign.

[burntonion05]

John McCain should be waterboaded for being such a moron and getting in this mess. He needs to retire because he knows nothing about this matter or any other matter.

[OhioDemocrat]

Damn I'm glad McSame's not President, we would be screwed!

[lmn8bush]

It's to bad we just couldn't send this traitor mother fucker back to the Vietnamese !

[redwine666]

GOP = Grand Obstructionist Party. In power for for the last 8 years this train wreck started with Regan and now they are blocking people who want to fix the GOP's messes.

It is my firm belief that the GOP wants the US to split apart and they are in fact as a party the real threat to the US more any any middle eastern group

[cchank1]

started with Reagan! What are you talking about. Yea I like Bush but I'm not gonna deny that basically all of America hates him and made the GOP look bad. But Reagan was basically the last true Republican. Actually Obama wants to split America. This stimulus bill has Socialism written all over it.

[hippieCy08]

dear chank1......Socialism began with Reaganomic....called Voodoo Economic by Bush One!

Now, I know Conservatives like Welfare and Socialism when it serves their masters in Wall Street and mega Church spewing b.s. of politics....but give it up with the pointless talking point about Obama.

Your camp lost....Americans want a president who serve the Middle and Working Class...you know the backbone of this country and Western Democracy!

[cchank1]

Excuse me? You think we serve wall street and the mega church. Seems more like the Liberals who serve the mega churches and Wall Street. Reaganomics cured the economy from Carter's stupitidy during office. Unemployment went mile high under Carter's economic plan. 22% interest rates and 25% inflation under Carter. You can't deny that. Like I said Reagan helped basically all Americans. New jobs were created. Reagan didn't need a stimulus bill to revive our country.

[johnedwards1968]

This is just nonsense.  The middle class and lower class shrank for the last 28 years, and you think everyone benefitted? Where do these clowns come from?

[cchank1]

Yes in the Reagan era it did. When HW Bush was elected, the economy kinda went downhill apart and then Clinton just destroyed it. His bill in 93 was a failure. Bush had big shoes to fill after Clinton's failure.

[johnedwards1968]

That is just pure unadulterated nonsense.

The unemployment rate was just as high at the end of Reagan's administration, as it was at the start.

Clinton left office with a government surplus, and in all fairness a minor recession. How can you possibly give W any credit for what he's done on the economy?

I understand that you're a partisan, but you can't just go rewriting history to suit your needs.

[osiris2669]

inflation started growing in 1965 and snowballed for the next 15 years To battle inflation Carter appointed Paul Volcker as Chairman of the Federal Reserve Board, who defeated it by putting the nation through an intentional recession. Once the threat of inflation abated in late 1982 Volcker cut interest rates and flooded the economy with money, fueling an expansion that lasted seven years. Neither Carter nor Reagan had much to do with the economic events that occurred during their terms.

[47f0]

Senator McCain, you don't even know what it costs to put gasoline in your car, and you have the gall with your beer-heiress fortune to pretend any slight shred of fiscal acumen? Please start revving up for your 2012 campaign, so we can send you the message again - you didn't get it the last time.

[billthebutcher2]

We seriously dodged a bullet with this guy. Not only does he spew this idiocy, right now we'd have a spending freeze for govt and overseeing our "recovery" at Treasury would be either Phil Gramm or John Thain. Yikes.

[boguslife]

is to generous for the middle class.

just like it was to generous for the veterans.

[dsgspm]

where from was the $420B pulled out of? obama's stimulus divided by two? was that it? i'm starting to think mccain is not that original

[dsgspm]

got to hand it to obama for not alienating lieberman back when he could and most people wanted to taste some blood. not too dumb a move after all considering this thing will pass by a vote or two

[yoctomx]

one word: Bullpucky.

[eljefereal]

lol... Rachel is awesome, isn't she?

[yoctomx]

she really is!

[klugyboy]

And the fundamentals of the economy are still good???? You jackass, go back to wherever you came from...Hero my ass, you're trying to destroy this country...

[jer4703]

Sore looooooooser!

[Nutrino2179]

What a crock. The Repubs publicly announced their iagenda is to be sure this is not a bipartisan bill. If it doesn't work they can blame the Dems, and if it does, they will claim that it worked because of tax cuts and the spending was a waste.

[Mahoivlich]

the generational debt was created by the rep. the took surplus and turned it into a deficit. do not forget that.

[bbbbmer]

Whenever John McCain speaks I'm reminded of the line from the Altman movie, M*A*S*H, when Hawkeye and Pierce are operating on a Congressman's son in a Japan base hospital, after being barged in upon by the commanding officer out of sterile surgical garb, "Someone get that smelly old man out of this operating room!!!"... McCain's old tired ideas parroting Reagan's senility-laced conservatism brought us economic catastrophe.

[armatus99]

yeah, doing less during the great depression did workout so well hmm, i'm sorry, even if mccain is 10x better then the usual republican, he still sucks. YOU NEED TO SPEND MONEY IDIOT, just think of it as a war againt poverty ;), republicans like to spend on wars, just name it war on blablabla and the money rolls ^^

[uyd]

Working together only happens when the other side, the Republicans are serious about compromise and negotiation. When one side of a negotiation obstructs just to obstruct, has no credible alternatives to the proposal under discussion, then negotiations tend to break down and working together oes not work. How about a proposal with a little more to it than tax cuts, tax cuts, tax cuts, these alone will not stimulate the economy. We alslo need to boost demand, hence the spending/investments.

[volumedealer1]

I agree with McCain...who would of thunk it?

[uyd]

John McCain where were you durning the last 8years when Bush took our country from surplus to debt. You were certainly willing to enable him to abuse the national credit card to pay for the Iraq war, tax cuts and on and on. Why are you so concerned now?

[crazytvfan815]

Oh no! There's no bi-partisanship!!! I mean, Obama HAS cooperated 100% of the time with the Republicans, but hey, if it's not a 100% Republican plan, it's not bi-partisan!

[andid]

We made the right choice, guys. Can you imagine how ineffective this man would have been as our President?

To his credit, though, he's still alive.

[Landrew120880]

Not to mention the 700b that the banks got, but I guess when it comes to assisting Americans, no deal McCain.