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McCain criticizes bailouts, higher taxes

September 22, 2008 by  

McCain cautions against bailoutsJohn McCain has spoken out against the Federal Reserve’s plans to bail out troubled financial institutions, saying it should "get back to its core business of responsibly managing our money supply and inflation."

Addressing supporters in Green Bay, Wisconsin, the Republican presidential nominee explained that the Fed "needs to get out of the business of bailouts" and return to fundamentals.

His comments come as President Bush asked Congress for the power to enact a $700 billion rescue plan to buy bad mortgage assets from banks – a proposal that has angered some taxpayers who wonder why their money should be used to help troubled companies.

In his Wisconsin speech, McCain also criticized vice presidential candidate Joe Biden for saying that wealthy people have a patriotic duty to pay more in taxes.

"Raising taxes in a tough economy isn’t patriotic. It isn’t a badge of honor. It’s just plain dumb," the senator said.

One aspect of McCain’s economic plans for the U.S. is to introduce a system to prevent financial institutions from hiding their bad practices from Washington.

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  • Don R

    “McCain criticizes bailouts…..” and then the liberal, left-wing, pro-illegal alien, pro-amnesty for illegal aliens and criminals, pro-Mexican, pro-huge government, pro-huge deficits, pro-earmarks,  Kennedy clone politician hurries back to Washington where the first thing he does is hug is liberal-left-wing boyfriend Joe Lieberman and then presses for an earmark filled, bailout bill for his Frat-rat Wall Street buddies and then votes in favor of that socialist legislation thus “redistributing the wealth.”

    This ancient, lying,  old man of the Keating Five whose wife is a multi-millionaire, drug stealing addict got exactly what he deserved.

    This Goldwater/Reagan conservative who voted straight Democrat is so glad McCain and the rest of the RINO’S went straight down to defeat. Now, we have an opportunity to rebuild the Republican-Socialist Party with true conservatives.

  • patty

    My husband and I were blogging on ABC News yesterday about Obama and all our posts have been deleted. What happened to freedom of speech. They were not mean and we did not use filthy language in the blogs we just stated some facts!!!

  • http://ordy@fedtel./net Eric g

    Mc Cain is the kinda of republican that supported Obama and the leberal democrats . The kind republican that George Walace said there ain’t a dams worh of diferance .


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