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McCain: I was misled on bailout

February 22nd, 2010 . by TexasFred

McCain: I was misled on bailout

Under growing pressure from conservatives and “tea party” activists, Sen. John McCain of Arizona is having to defend his record of supporting the government’s massive bailout of the financial system.

In response to criticism from opponents seeking to defeat him in the Aug. 24 Republican primary, the four-term senator says he was misled by then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. McCain said the pair assured him that the $700 billion Troubled Asset Relief Program would focus on what was seen as the cause of the financial crisis, the housing meltdown.

“Obviously, that didn’t happen,” McCain said in a meeting Thursday with The Republic’s Editorial Board, recounting his decision-making during the critical initial days of the fiscal crisis. “They decided to stabilize the Wall Street institutions, bail out (insurance giant) AIG, bail out Chrysler, bail out General Motors. . . . What they figured was that if they stabilized Wall Street – I guess it was trickle-down economics – that therefore Main Street would be fine.”

Nearly 15 months later, commercial lenders still are in shaky condition and the commercial real-estate industry is in trouble, he said. On Friday, President Barack Obama announced $1.5 billion in funding for new measures to help Arizona and four other states hit hard by the tanked housing market and by joblessness.

But McCain stopped short of calling the TARP a mistake.

Full Story Here:
McCain: I was misled on bailout

I sincerely hope the good folks of Arizona are paying very close attention to this story and are listening intently to the words of John McCain.

One of the comment makers on FOX News just now said, and I paraphrase, “Come election time, McCain comes home and talks like a Conservative, then he goes back to Washington and votes like a liberal.”

That sums it up nicely I believe.

“Something had to be done because the world’s financial system was on the verge of collapse,” he said. “Any economist, liberal or conservative, would agree with that. The action they took, I don’t agree with.”

Can you smell what John McCain is spewing? Smells like duplicitous BS to me.

Republican Senate primary challenger J.D. Hayworth is using the TARP vote as a bludgeon against McCain’s reputation as a fiscal hawk. Tea partyers point to it as the start of a new explosion of federal spending that has continued into the Obama administration.

The Senate seat currently held by John McCain is ripe for the picking, all J.D. Hayworth has got to do is NOT lose this election himself, thus handing McCain a shew in victory.

McCain said Bush called him in off the campaign trail, saying a worldwide economic catastrophe was imminent and that he needed his help. “I don’t know of any American, when the president of the United States calls you and tells you something like that, who wouldn’t respond,” McCain said. “And I came back and tried to sit down and work with Republicans and say, ‘What can we do?’ “

Well, there you have it. The REAL side of John McCain finally comes out for all to see. In true libber fashion he is going to do what ALL libbers are doing right now, BLAME BUSH! 8-)

I don’t disparage John McCain for his service to this nation, his MILITARY service. Past that, McCain long ago outlived any usefulness to the GOP he may have had. John McCain IS a RINO! That’s not said in jest, it’s said as hard accusation against McCain and IS meant to disparage him and his political career.

Arizona, John McCain has got to go. Do what’s right for Arizona and America. Retire that old RINO and put a real Conservative in Washington.

No more RINOs, no more excuses, no more settling for the lesser of anything.

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Dem. Sen. Evan Bayh says he won’t seek 3rd term

February 15th, 2010 . by TexasFred
Dem. Sen. Evan Bayh says he won’t seek 3rd term
INDIANAPOLIS (AP) – Democratic Sen. Evan Bayh says he will not run for a third term in Congress.

Bayh said at a news conference in Indianapolis on Monday that he believed he would have been re-elected despite “the current challenging environment” in Congress.

He attributed his decision to the bitter partisan divides that have dominated Congress in recent years, though he praised his colleagues as hard workers devoted to public service.

Bayh says it is time for him to “contribute to society in another way,” either by creating jobs with a business, leading a college or university, or running a charity.

Full Story Here:
Dem. Sen. Evan Bayh says he won’t seek 3rd term

A Hat Tip to: THE ASTUTE BLOGGERS for the pic.

I really don’t have a dog in this particular fight. Being a resident of Texas all I can do is opine on the politics of Indiana. Let me share the words and opinion of someone from Indiana, a person I call a real friend, my blogging buddy, Hoosier Army Mom

What is truly sad is the fact that though being a Democrat, Bayh survived in this ‘red state’ because he was in the middle and patriotic about our country. I think his disgust is most likely motivated by Harry Reid throwing out the jobs bill and spitting on anything that includes both sides… so much for bipartisan!!! I certainly don’t defend Bayh, and I am glad to see him step down, but he is not, by long shot, the worst of the lot, but what he is would be one part of the majority that needs to go. I guarantee you… in this state, he will be replaced with a Republican. Now if that RINO Lugar would just retire!!! And of course in the House we need to be rid of Andre Carson and Baron Hill!!!! They both disgust me!!!

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Obama admits health care overhaul may die on Hill

February 6th, 2010 . by TexasFred
Obama admits health care overhaul may die on Hill
WASHINGTON (AP) – No, maybe he can’t. President Barack Obama, who insisted he would succeed where other presidents had failed to fix the nation’s health care system, now concedes the effort may die in Congress.

The president’s newly conflicting signals could frustrate Democratic lawmakers who are hungry for guidance from the White House as they try to salvage the effort to extend coverage to millions of uninsured Americans and hold down spiraling medical costs. Obama’s comments Thursday night came hours after Republican Scott Brown was sworn in to replace the late Edward M. Kennedy, leaving Democrats without their filibuster-proof majority in the Senate, and Obama’s signature health legislation with no clear path forward.

“I think it’s very important for us to have a methodical, open process over the next several weeks, and then let’s go ahead and make a decision,? Obama said at a Democratic National Committee fundraiser.

“And it may be that … if Congress decides we’re not going to do it, even after all the facts are laid out, all the options are clear, then the American people can make a judgment as to whether this Congress has done the right thing for them or not,? the president said. “And that’s how democracy works. There will be elections coming up, and they’ll be able to make a determination and register their concerns.?

Full Story Here:
Obama admits health care overhaul may die on Hill

Have you ever noticed? The most important news stories, the ones that the media or the White House doesn’t want you to see, seem to come out late on Friday afternoon?

I have known this for a long time, that’s why I like to watch the late Friday PM news so closely, I get some of my best material for commentary that way.

It appeared to be a shift in tone for the issue the “Yes we can? candidate campaigned on and made the centerpiece of his domestic agenda last year. In a speech to a joint session of Congress in September, Obama declared: “I am not the first president to take up this cause, but I am determined to be the last. … Here and now we will meet history’s test.?

Obama won’t be the last. He’s going to keep on pushing this. Harry Reid and Nancy Pelosi will keep on pushing and encouraging him as long as they are in the Senate and House.

Under normal conditions, I greatly admire tenacity. It takes a lot of guts to march into the belly of the beast and fight for your cause. It helps if the people are behind you too. But in this case, in regards to ObamaCare, I don’t think it’s so much tenacity as it is Democratic moonbattery!

The American people, the MAJORITY of American people, don’t want this debacle of a health care bill to pass. For some reason, Obama, Reid and Pelosi just can’t get it through their heads.

“The next step is what I announced at the State of the Union, which is to call on our Republican friends to present their ideas. What I’d like to do is have a meeting whereby I’m sitting with the Republicans, sitting with the Democrats, sitting with health care experts, and let’s just go through these bills. … And then I think that we’ve got to go ahead and move forward on a vote,? Obama said Thursday shortly after a White House meeting with Democratic congressional leaders that produced no apparent progress on health care.

Let me translate that for you: “The next step is what I announced at the State of the Union, which is to call on our Republican friends to present their ideas.? equates to, ‘OK, we locked the GOP out on this and we have totally screwed it up. Let’s give THEM a shot at it and if THEY do a fine job of making this feasible, WE take the credit. If they screw up worse than we did, then we place the blame for failure on THEM!’.

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