Obama is not elected yet but the plan for more spending has already started.

[MrLabGuy]

After consulting with Barack Obama, Democratic leaders are likely to call Congress back to work after the election in hopes of passing legislation that would include extended jobless benefits, money for food stamps and possibly a tax rebate, officials said Saturday.

The bill's total cost could reach $150 billion, these officials said.

That said $150 billion in government spending seems cheap considering the last few months of the Bush administration.

I doubt spending will be a problem for the McCain administration which is why I'm voting McCain.

http://apnews.myway.com/article/20081011/D93OHKO80.html

[mwares212]

These guys sure are cocky. He hasn't won yet, Nancy.

[Krimson X]

Originally Posted by mwares212

These guys sure are cocky. He hasn't won yet, Nancy.

...But isn't he still a member of Congress? Isn't it the power of Congress to enact laws?

[vinuneuro]

I don't like this Obama proposition, but consider McCain on Iraq:

123+ billion every year, that's been going on, and will go on year after year.

Iraq trumps almost anything Obama can come up with in terms of spending.

[Krimson X]

Originally Posted by MrLabGuy

That said $150 billion in government spending seems cheap considering the last few months of the Bush administration.

I doubt spending will be a problem for the McCain administration which is why I'm voting McCain.

http://apnews.myway.com/article/20081011/D93OHKO80.html

Oh? So where will McCain get the $300 billion needed for his mortgage buy back program that he announced at the Town Hall Debate last week to the utter dismay of his conservative base?

[FSETH]

Originally Posted by Krimson X

Oh? So where will McCain get the $300 billion needed for his mortgage buy back program that he announced at the Town Hall Debate last week to the utter dismay of his conservative base?

I think the difference is that McCain is trying to help correct a bad mortgage problem (caused by Democrats in the first place, thanks Bill) and Barack is looking to give more handouts such as the welfare and unemployment benefits which are already more than sufficient.

[lakai]

Originally Posted by Krimson X

Oh? So where will McCain get the $300 billion needed for his mortgage buy back program that he announced at the Town Hall Debate last week to the utter dismay of his conservative base?

Uhhh... They're already doing this. It is in the proposal in the bailout bill.

[Krimson X]

Originally Posted by lakai

Uhhh... They're already doing this. It is in the proposal in the bailout bill.

No. They are not. McCain has suggested that he would direct his Treasury Secretary to parcle out $300 billion from the $700 billion for this plan.

http://blogs.wsj.com/washwire/2008/1...surgence-plan/

AMERICAN HOMEOWNERSHIP RESURGENCE PLAN

John McCain will direct his Treasury Secretary to implement an American Homeownership Resurgence Plan (McCain Resurgence Plan) to keep families in their homes, avoid foreclosures, save failing neighborhoods, stabilize the housing market and attack the roots of our financial crisis. America's families are bearing a heavy burden from falling housing prices, mortgage delinquencies, foreclosures, and a weak economy. It is important that those families who have worked hard enough to finance homeownership not have that dream crushed under the weight of the wrong mortgage. The existing debts are too large compared to the value of housing. For those that cannot make payments, mortgages must be re-structured to put losses on the books and put homeowners in manageable mortgages. Lenders in these cases must recognize the loss that they've already suffered.

The McCain Resurgence Plan would purchase mortgages directly from homeowners and mortgage servicers, and replace them with m anageable, fixed-rate mortgages that will keep families in their homes. By purchasing the existing, failing mortgages the McCain resurgence plan will eliminate uncertainty over defaults, support the value of mortgage-backed derivatives and alleviate risks that are freezing financial markets.

The McCain resurgence plan would be available to mortgage holders that:

· Live in the home (primary residence only)
· Can prove their creditworthiness at the time of the original loan (no falsifications and provided a down payment).

The new mortgage would be an FHA-guaranteed fixed-rate mortgage at terms manageable for the homeowner. The direct cost of this plan would be roughly $300 billion because the purchase of mortgages would relieve homeowners of "negative equity" in some homes. Funds provided by Congress in recent financial market stabilization bill can be used for this purpose; indeed by stabilizing mortgages it will likely be possible to avoid some purposes previously assumed needed in that bill.

The plan could be implemented quickly as a result of the authorities provided in the stabilization bill, the recent housing bill, and the U.S. government's conservatorship of Fannie Mae and Freddie Mac. It may be necessary for Congress to raise the overall borrowing limit

[Quicksilver]

Come on guy's keep up.

If your going to dig up meaningless trash, get the juicy stuff like..........

ARLINGTON, Va. - Republican John McCain vowed Sunday to "whip" Democratic rival Barack Obama's
"you-know-what" when the two presidential candidates meet Wednesday in their final televised debate.

McCain made that pledge as top advisers said he is weighing new economic proposals to help
the nation weather the financial crisis. The Arizona senator refused to answer a reporter's question
Sunday about what plans he might be considering.

[Wagner]

Originally Posted by Quicksilver

Come on guy's keep up.

If your going to dig up meaningless trash, get the juicy stuff like..........

ARLINGTON, Va. - Republican John McCain vowed Sunday to "whip" Democratic rival Barack Obama's
"you-know-what" when the two presidential candidates meet Wednesday in their final televised debate.

McCain made that pledge as top advisers said he is weighing new economic proposals to help
the nation weather the financial crisis. The Arizona senator refused to answer a reporter's question
Sunday about what plans he might be considering.

Almost sounds like a quote from Jesse Jackson