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Tipsheet

McCain Could Bail on the Bailout ...

Over at the NYT today, Bill Kristol argues that John McCain might gain politically by opposing the proposed $700 billion bailout:

"Or McCain — more of a gambler than Obama — could take a big risk. While assuring the public and the financial markets that his administration will act forcefully and swiftly to deal with the crisis, he could decide that he must oppose the bailout as the panicked product of a discredited administration, an irresponsible Congress, and a feckless financial establishment, all of which got us into this fine mess.

Critics would charge that in opposing the bailout, in standing against an apparent bipartisan consensus, McCain was being irresponsible.

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Or would this be an act of responsibility and courage?"

While conventional wisdom says that having the election fought over economic issues is tantamount to conceding the turf to Obama (since, ostensibly, Bush "created" this mess), it is possible McCain could once again turn the tables and defy conventional wisdom.  Might this be another opportunity for McCain to put distance between himself and Bush?

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