Friday, November 21, 2008
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McCain Econ Advisor Says He Was Wrong on the Bailout
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Posted by:
Amanda Carpenter at
1:50 PM
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Not to sound cocky, but I've said again and again I thought John McCain lost the election the day he decided to support the $700 billion financial bailout. It was a turning point for me and, I think, many other conservatives who felt betrayed once again by the maverick.
Now the guy who advised McCain to do it agrees it was a bad move.
"We also make mistakes," Doug Holtz-Eakin said yesterday at the Heritage Foundation. “There’s no doubt about it--20/20 hindsight. I think the key strategic policy error of the entire campaign, that is mine, is believing that the bailout bill would help.”
Even worse, Holtz-Eakin said their campaign supported throwing $700 billion tax dollars to Wall Street because they thought was good politics. Not because it even had a whiff of being good policy.
“Financial markets were falling apart,” Holtz-Eakin said. “We were in a terrible position as a campaign in trying to figure out whether to continue to just take hits--which we were--or to try to do something about it when the bailout bill was stalled. We elected to go do something about it. It didn’t pay off as a campaign largely because getting that bill through was not helpful.” “That was the key strategic error that we really made,” Holtz-Eakin explained. “Had we stayed away from Washington, stayed away from being identified with that bill – which was ultimately against the John McCain brand-- that’s not a bill he normally would support-- we would have been better served in the long run, I believe. But, that financial market meltdown combined with bad strategic decisions, I think, was a real crippling combination of events.” H/T to the Business and Media Institute for covering the event.
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The bailout package was the worst idea ever. Anyone who supported that basically said, "I don't trust capitalism". What a sad day.
Absolutely right, Amanda. |
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are a bunch of morons who refuse to admit the REAL reasons for his loss!
Oooh, it just couldn't be because McScamnesty was a "slimy little RINO", huh?
I'm wondering what cabinet job he's gonna be offered by his master, "Obambi"??
Ooooh, and of course he'll have to bring along his slimey little pal,"Linseed Grahamnesty",....where sen'or Juan goes,...Linseed tags along.....
IOW,....McScamnesty is the RINO,.....Linseed is the "tick bird"!
Good riddance. |
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Waaaaiiiitttt a Minute! Hold On! I thought it was Sarah Palin's fault?!
This line cracks me up: "It was a turning point for me and, I think, many other conservatives who felt betrayed once again by the maverick."
Gee, I felt the pain of McCain at least 4 years ago with the Gang O' 14, no free speech, amnesty, etc etc.
I predict that by next June, the McCain people will be saying, "We regret that we ran a Democrat. That could have cost us the election."
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"Will we ever find an individual who does what he says even in the face of adverse conditions? I thought McCain could have been that person."
You had a person, though, you wouldn't have known it from the media or talk radio.
Ron Paul. He vote not only against this abomination, but the others as well. |
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You mean he actually listened to his advisors.Shoot,that was the worst run campaign I have ever seen.The only thing he did right was pick Palin as VP(which is why I voted for him)and he woefully misused her talents. |
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President Bush gave McCain a chance to distance himself, from Polsi, Reid, Obama,
and the rest of the Liberals,
by going against the bailout,
and McCain didnt take advantage of it,
should of stayed away from Washington.D.C.
I wonder what Governor Sarah Palin thinks about the bailout, and what she would of done. |
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If McCain had said he was AGAINST the bailout..I think he would have won..NOW THAT would have been worth suspending his campaign to go to Washington in my Opinion..but he Cratered and agreed..he could have put another SPIN on agreeing and still done well but he dropped the ball..He could have said he had to help get the GOP in lock step TO STOP the DEMS from PILING ON THE PORK but he didn't and of course the Dems and liberal media made him look like he was a fart in a collander |
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If he hadn't had Palin on the ticket I'd have voted none of the above after that. |
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I think McCain could have survived voting for the $700 billion bailout that is misnamed. It's $700 billion in questionable investments. What killed McCain was voting for $150 billion of earmarks attached to the bailout. That was after he promised as President to never sign legislation containing earmarks. What kind of integrity was that? Will we ever find an individual who does what he says even in the face of adverse conditions? I thought McCain could have been that person. Maybe Palin. |
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Maybe the GOP will give us a chance to nominate an actual Conservative next time... assuming we get a next time... |
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Look at how he governed Mass....RomneyCare anyone. This is the same mandated plan that Hillary wanted for the entire country. It was so successful in Mass. that the state almost went bankrupt!!! Oh, but Mass. got a Government bailout for the horrible health care plan Mitt Romney enacted as Governor. We can't forget gay marriage that started in Mass under Gov. Romney's watch. He didn't even fight it (his speech condemning it doesn't count..last I heard actions are what you need to pay attention to). Gov. Romney even threatened the Judges who wouldn't go along with gay marriage, that if they wouldn't do it, they lose their jobs. This among many other things Gov. Romney did to push gay marriage in Mass. He told the Republicans who support Gays in Mass. before he was elected Governor, that he would be a better friend to gays than Ted Kennedy. He was that, wasn't he! He did what the Dems hadn't been able to do. This is our Conservative....right!!!
Did you all know that Mitt Romney was on the economic group that advised McCain to support the $700 billion dollar bailout? How is that Conservative. Now he wants to redeem himself by going against a bailout for the 3 big automakers. Same old Romney, see what the public wants and change your position!!
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That was a very good summary of Bush's failings. He concentrated so much on making his administration a diverse group without considering their competence that he filled his administration with a bunch of big time losers. With few exceptions most in his regime couldn't hit their butts with both hands.
It looks like Obama is following suit thus far. |
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Does anyone remember how the stock market didn't REALLY start to tank until moments after the bailout was passed?
What was truly troubling about the bailout is how Pres. Bush simply took the word of Paulson(a Democrat)that this gigantic and dangerous bailout was needed, even having his press secretary say that the only thing Bush wanted in the bill was what Paulson said he needed. Bush has certainly kept us safe, and for that we should all be thankful. However, the man lacks the ability or desire to actually engage in policy decisions. He has been played over and over by the many questionable characters to which he gives his complete faith and confidence, many of whom are completely undeserving or unproven at least. Then Bush allows these people to make him look like an idiot day after day before finally catching on that these people are incompetent or wrong. It has been his greatest failing. |
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But, that won't take the power away from the illuminati, it will just serve as one more person for McCain to blame. |
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anyone still going to attempt to argue that McCain did anything but put politics first throughout the campaign? |
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Wasn't the bailout, although it did hurt, it was running McAmnesty as the GOP candidate. |
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