Monday, February 22, 2010

McCain Was Misled

Or so says Sen. John McCain in defense of his own support of the $700 billion TARP bill. If you will remember, McCain actually shut down his presidential campaign in order to travel back to Washington to help solve the financial crisis. That worked out swimmingly for all of us.

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.
The painful problem that McCain must suffer with this whole issue is that he is unable to honestly defend his prior position on the massive bailout without admitting that he is not driven by conservative economic principles. He is a student of the "too big to fail" centrist wing of the Republican Party, and an advocate of big government solutions to too many of our government created problems today.

McCain has never been a big believer in conservative fiscal principles other than a resolute disdain for earmarks. That only goes so far in a country that routinely passes behemoth spending bills that dwarf the attached earmarks. He is a taxer (or he is until his feet are held to the fire,) a spender, a controller, and a believer in the many wonderful things that government can provide.

He has been in office for nearly 24 years already and is seeking another six year term because, McCain believes, there is no one else in Arizona capable of taking over.

A politician duped after 23 years of senate experience on something as large as TARP is not likely to be any wiser during the midst of his 24th year. He is also not likely to be any wiser than an average conservative candidate wanting to step in to fill his void.

Whats the worst the new guy could do? Get duped?

h/t Michelle Malkin

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