Am I the only conservative who felt a sickening feeling when McCain proposed socializing America's "troubled mortgages"?
Here's McCain's actual language:
Allen, I would order the secretary of the Treasury to immediately buy up the bad home-loan mortgages in America and renegotiate at the new value of those homes, at the diminished value of those homes, and let people make those -- be able to make those payments and stay in their homes.
I was driving and listening to the debate in my car, so I wondered for a second if maybe this was Obama putting on a McCain accent. Then the candidate asked--and answered--the question that was exploding in my head:
Is it expensive? Yes.
Ya think? Three hundred billion here, three hundred billion there; sooner or later you're talking about real money.
But the expense is the least of the danger of this proposal. Look at this situation clearly, folks--the Republican in the race is advocating a shift to socialism.
I don't underestimate the depth of the economic crisis. But it's precisely in a time of crisis that the Constitution, not to mention the entire capitalist system, is in danger--not from falling markets, but from avaricious politicians who want to aggrandize national power. We've seen it throughout history, and it's happening again.
I was resigned to a McCain nomination as the best chance the GOP had to retain the White House, because I feared the damage a Democrat would do to the Constitution--and in particular, the abuses of power we could be assured of in a Hillary administration. I liked McCain's position on earmarks. I really liked his vote against Medicare Part D--the low point, in my view, of the entire Bush administration. But now I think we can see how right the conservatives on this site were who refused to trust McCain's "conservative" credentials.
Bob Barr just started looking a whole lot better to me.