McCain talks Twitter in speech

Posted: Friday, March 06, 2009 12:00 PM by Domenico Montanaro
Filed Under: Congress, Republicans

From NBC's Kelly O'Donnell and Domenico Montanaro
It's quite the shift to see the candidate who acknowledged during the 2008 presidential campaign not using e-mail or Blackberries to now being a Twitter touter.

On the Senate floor today, Sen. John McCain expounded at length about "pork," as he sees it in the funding bill. He used plenty of examples and had more sharp calls for President Obama to use his veto power. And he went on about how his colleagues know he's begun Twittering -- that his office is Tweeting about using the outlet to talk pork spending.

We've noted his (and other members') use of the site in this post.

Here's example on what's on his page currently:
"on my way to the floor to continue to talk pork"
"Back by popular demand... #10 $190,000 to rebuild a dock in Gold Beach, OR"
"Having breakfast with secretary gates @ the pentagon."
"#1. $1.9 million for the Pleasure Beach Water Taxi Service Project, CT"
"#2. $143,000 for the Dayton Society of Natural History in Dayton, OH."

EMAIL THIS

Comments

Since several of my replies on the previous thread did not make it through, I will cosolidate my thoughts into these 2 points:

1. Richard pointed out all the folks that could get unemployement with 8 billion dollars. Some of those same folks could also get jobs building earmarked projects and the entire community could benefit as a result of the additional infrastructure investment.

Earmark abuse is kind of like child abuse. Do people stop having kids because some people abuse theirs?

Surely we are smart enough to improve the system without this simplistic "villification" model, right?

2. To everyone bemoaning the fact that President Obama isn't focusing on the economy enough, or (as Josh said) is deliberately letting the stock market tank I have a simple question:

What magic remedy is at hand that President Obama is callously refusing to employ?

Ehat exactly is everyone expecting him to say or do that is going to magically make the banks solvent using no taxpayer money and send the stock market over the moon?

Nashville_fan (Sent Friday, March 06, 2009 12:33 PM)

Hey John !!

Will you ask Republicans to remove their Earmarks form the continuing resolution ?

You said you'd speak out and name names
Were you LYING ?

Are you gonna name names ?
Or was that a CAMPAIGN LIE ?

Here's a couple of names: John Kyl and Mitch McConnell

Will you call them out, Mr. Maverick ??

MSierra, SF (Sent Friday, March 06, 2009 12:34 PM)

but but but...mccain keeps pointing out Dems pork in the bill but he is coveniently ignoring the big spenders in his own party that have porkk...this is why he and the reugnants lose elections because they no longer have any fiscal credibility...none

Rick, NC (Sent Friday, March 06, 2009 12:38 PM)

McCain wasn't the best choice but then who really was against Obie's great insideous spell-binding delivery?

Palin was the one who attacked Obie over & over while McCain almost defended him at times. She was the go-getter and no wonder she was pissed. And those media idiots were relentless. $150,000 over clothes and now BHO spends this country into the ground. You won't need cemetery plots. Obie and Pelosi already have their shovels ready. It'll be a massive grave.

Palomino (Sent Friday, March 06, 2009 12:41 PM)

I hope Johnny reads msnbc first read because these are the same people that preach no abortion, and then turn around and lie like a rug. Why don't they for once tell the truth, especially Mr. Bonehead from Dayton, Oh, that Johnny. They and their cronies have caused this mess, we need it fixed, not just your lies, all of you.

gsc, Shawnee, OH (Sent Friday, March 06, 2009 12:45 PM)

Well, I hope people enjoy their technology like Twitter, because not much more new technology is coming down the road. What Obama's and Congresses budget plans do is make a considerable amount of cuts in new technology funding. On a big scale, items like NASA, where so many new technologies were born, are being cut to the bone. On a smaller scale, much of the venture capitalist money has dried up because of the new higher taxes Obama is proposing. Venture capitalists of course are people that take huge risks with their money, and at the same time hoping for a huge reward. Because their taxes are going to be going up, that money no longer exists.

So all of the technology revolution we saw through the '90s and the early 2000's, all the advances in the Internet access and speeds, all the cell phone technology, and all the new faster cheaper computing power, all that will stop now.

So enjoy your Twitter, which was really just a cheap add on to an existing technology. You won't be seeing much more like it.

Techie Gal (Sent Friday, March 06, 2009 12:46 PM)

Too bad McCain-Feingold's bill to give Obama a line-item veto didn't pass muster with the closet pork-lovers. Then Obama could have stripped pork from Republicans and Democrats, and this whole thing would be moot. Maybe that's why the pork-lovers don't want McCain's amendment. They get their pork,AND blame Obama and each other! And the beat goes on...

Class Warrior, D.C. (Sent Friday, March 06, 2009 12:47 PM)

2. To everyone bemoaning the fact that President Obama isn't focusing on the economy enough, or (as Josh said) is deliberately letting the stock market tank I have a simple question:

What magic remedy is at hand that President Obama is callously refusing to employ?

Ehat exactly is everyone expecting him to say or do that is going to magically make the banks solvent using no taxpayer money and send the stock market over the moon?
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Nashville Fan, no one expects him to say or do anything to magically make the banks solvent. There is no magical solution to the economic problems in this country. But focusing on health care and other matters when his first and only priority right now needs to be the economy would be a good idea. Contrary to what he said yesterday, the health care crisis is not the reason we're having economic problems. I think it's great he's addressing it, but right now his focus needs to be on one thing only.

Claire (Sent Friday, March 06, 2009 12:48 PM)

McCain, Twitter this--With the lowest tax rates for the rich and corportations, America has the highest unemployment rate in years, so what happened to all the jobs supposedly to be created because the rich low tax rate???????????????????

It can't and won't happen! The republican philosophy is just a scam for the greedy, narcisstic slumlords and modern day slave owners.

By the way McCain, I read yesterday that a man shot himself because the only home he had was being taken away, while you have 8 or 9 homes you didn't work for either! You just married it!

Democrats, you had best back off of supporting the republicans you hang around with on the hill, they are lethal, or you will find yourselfs back home just like they are going to be at the next election!

I really, really despise the republican rehetoric (Sent Friday, March 06, 2009 12:53 PM)

McCain, Twitter this--With the lowest tax rates for the rich and corportations, America has the highest unemployment rate in years, so what happened to all the jobs supposedly to be created because of a rich low tax rate???????????????????

It can't and won't happen! The republican philosophy is just a scam for the greedy, narcisstic slumlords and modern day slave owners.

By the way McCain, I read yesterday that a man shot himself because the only home he had was being taken away, while you have 8 or 9 homes you didn't work for either! You just married it!

Democrats, you had best back off of supporting the republicans you hang around with on the hill, they are lethal, or you will find yourselfs back home just like they are going to be at the next election!

I really, really despise the republican rehetoric (Sent Friday, March 06, 2009 12:54 PM)

Johnny Bomber.Please have a talk with you r friends from Mississippi.I see they are the worst abusers of the system.But like the rest of the repiglets,they have a good time at the troff.Can you say hipocret.

jesse St.Paul Minnesota (Sent Friday, March 06, 2009 12:58 PM)

Senator John McCain is it too difficult to get you pork issues straight? Let me suggest forget about it. The pork is 2% of the budget and will create jobs, More importantly, Pork is coming from your end.

Beverly, Chicago (Sent Friday, March 06, 2009 12:59 PM)

Ehat exactly is everyone expecting him to say or do that is going to magically make the banks solvent using no taxpayer money and send the stock market over the moon?

Nashville_fan

Still waiting for that health care answer NF. There was question that you refuse to answer.

Lenny (Sent Friday, March 06, 2009 1:00 PM)

What magic remedy is at hand that President Obama is callously refusing to employ?

Ehat exactly is everyone expecting him to say or do that is going to magically make the banks solvent using no taxpayer money and send the stock market over the moon?

Nashville_fan (Sent Friday, March 06, 2009 12:33 PM)
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These people don't know the first thing about investing Nashville...Even with a full time job I went out and read book after book after book about money, the economy, and investing...and fortunately have deflected this downturn.

The policies of the last decade are insuring that anyone retiring now has to work much long in life than expected. So retirement isn't even a luxury.

These are the same people that blame T.V.and movies for violence, blame gay people for all the bad stuff that is happening to us because they think god is punishing an immoral country...they blame the "lazy" welfare recipients (which are a miniscule drain on our economy compared to other programs that everyday conservatives enjoy) the hate-mongers brain wash them and tell them to.

They blame anyone but themselves

They say someone making 10 bucks an hour as a laborer, working 50 hours a week making 21K a year trying to feed a family of 5 is cake compared to someone with a million in the bank making more than that in interest.

They blame Obama for spendind 2.75 million on american projects, that will create American jobs for Americans....but yet overlook the 10 Trillion spent by two other presidents, with absolutely nothing to show for it other than a weaker job base, and a trade deficit larger than any other time in history.

It's amazing that a group that did more to destroy the fabric of freedom and opportunity, could continue to be so bold in demanding anything. It's like breaking your neighbors front door down and then 2 seconds later saying "this is an eyesore, I demand you fix it...by buying a door from my friend down the street, and I'm going to block the street so you can't go anywhere else."

I'm off my soapbox now.

GP NW Indiana (Sent Friday, March 06, 2009 1:04 PM)

"What magic remedy is at hand that President Obama is callously refusing to employ?"

Well, Obama standing there and cutting down the nations economy for weeks on end didn't help. He did that to scare people into passing that massive stimulus bill that isn't really stimulus. The markets see both of those things, 1) The Gloom and Doom rhetoric from Obama and 2) A stimulus plan that is anything but stimulus, and they reacted accordingly. Obama made a tough situation much worse by his actions. Now's he's just ignoring the problem and running around talking about spending more money on health care.

Hope that answers your question.

T. Rollings, CA (Sent Friday, March 06, 2009 1:05 PM)

Contrary to what he said yesterday, the health care crisis is not the reason we're having economic problems. I think it's great he's addressing it, but right now his focus needs to be on one thing only.
Claire (Sent Friday, March 06, 2009 12:48 PM)
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Healthcare is the single biggest expenditure for small and large businesses alike...over 1500.00 goes into the price of an automobile because of healthcare.

You solve even a portion of the healthcare situation in this country and it is the equivalent to a large Tax cut for every business operating in this country...

Win Win

GP NW Indiana (Sent Friday, March 06, 2009 1:07 PM)

Class Warrior, D.C.: '...Too bad McCain-Feingold's bill to give Obama a line-item veto didn't pass muster with the closet pork-lovers...'

Class Warrior, I think the line item veto is a bad idea
It tilts the power balance even more towards an imperial Presidency

Imagine what Reagan or either Bush would do to social programs with a line item veto

There is pork, but there should be toher ways of reducing it

Some of what has been decried as pork really isn't
helping ex-gang members remove their tatoos so they can re-enter society ?
Monitoring volcanoes ?
Funding basic research ?

The Presidency is too powerfgul already
Let's not make it even more powerful

Enjoy your posts, Class Warrior !
Keep 'em coming

MSierra, SF (Sent Friday, March 06, 2009 1:15 PM)

So "Insane McCain" should be the last politician to talk about economics of any sort. I wonder how "Insane McCain's" old friend the "King of Corruption Keating" is doing lately? "Insane McCain" should have been thrown out of the US Senate, and sent to prison immediately. The only place that "Insane McCain" should be twittering now is from a prison cell! "Insane McCain's" "buddies" in the US Senate gave him a free pass to continue the GOP economics for the rich only. "Insane McCain's" Southern GOP Senators have gotten more pork than one can shake a fork at. Time to move forward America! Without "Jailhouse John," and "Cantor's Cronies!"

Rock,Janesville,Wisconsin (Sent Friday, March 06, 2009 1:16 PM)

The unemployment figure and job losses were worse than analysts expected and the Labor Department's report showed America's workers being clobbered by a relentless wave of layoffs.

Time to nail Big Business with tax hikes out the butt!

That will show them who's the boss.

Nixie Dixie, NJ (Sent Friday, March 06, 2009 1:20 PM)

OK, this officially marks the Death of Twitter.

J (Sent Friday, March 06, 2009 1:21 PM)

america, twitter this, we've given hundreds of billions of dollars to corporations for mismanagement and stupidity yet how many of these bozos who head the corperations have been canned? their employees are getting laid off in droves while these idiots retain their jobs! before giving any cash i'd have required firing all of them

karlos (Sent Friday, March 06, 2009 1:21 PM)

Josh,
You've made some salient points in the past couple of weeks; but you undermine it when you become a revisionist on the "W" years. I would have a more moderate, respectful view of your opinion if it didn't seem so one dimensional. I am perfectly okay admitting I am not 100% thrilled with some of Obama's mistakes; but when you continue to toe the party line about "W" not making any mistakes - well that is contortionist distortionist mind set. I'm not able to follow your 'reasoning' - or lack thereof.

Clara, Kansas City, MO

Don't want it to seem that way. I do not hold Bush or Republicans on a pedastel. I don't agree with all of the decisions made.

I think an honest evaluation arrives at a clearer picture.

Thank you for your feedback and honesty.

Too many here throw hate and anger around which solves nothing.

Josh Larson, FL (Sent Friday, March 06, 2009 1:23 PM)

"Nashville Fan, no one expects him to say or do anything to magically make the banks solvent. There is no magical solution to the economic problems in this country. But focusing on health care and other matters when his first and only priority right now needs to be the economy would be a good idea. Contrary to what he said yesterday, the health care crisis is not the reason we're having economic problems. I think it's great he's addressing it, but right now his focus needs to be on one thing only. " -Claire
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Claire,

I appreciate your response but I disagree. The focus has never on just been on just one thing, so why should it just be on one thing now?

Also, since there is nothing magical that the President or Secretary Geithner can do to immecdiately cure our financial mess, why shouldn't the President work on other things simultaneously?

The rising cost of health care is a big problem, and we are all paying for it every day, so I don't see the two as mutually exclusive.

I think this entire "he's doing too much" narrative is a red herring designed to drain the public's support from reforming health care.

Once we all stop doing anything but watching the stock market and worrying, then what? Are we going to put the War in Iraq on pause too?

Nashville_fan (Sent Friday, March 06, 2009 1:28 PM)

Still waiting for that health care answer NF. There was question that you refuse to answer.
Lenny
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Don't hold your breath Lenny . . . especially if you're uninsured.

You didn't ask a question, you typed a rant and asked me what I thought of it.

I don't have time to have faux arguments with faux enemies. If you want to debate the issues using facts, great. If you want to argue, I'm not your girl.

Nashville_fan (Sent Friday, March 06, 2009 1:36 PM)

MCCAIN IS ONE TO TALK HE IS AN ACTOR AND AS IS GUILTY FOR NOT NAMING ALL AND ONLY THE DEMS TELL THE TRUTH IT WILL SET YOU FREE. HELL MCCAIN AND WIFE HAS 8 TO 9 HOUSES SO WHO IS TO BE WHINNY SOB

SANDRA (Sent Friday, March 06, 2009 1:42 PM)

You solve even a portion of the healthcare situation in this country and it is the equivalent to a large Tax cut for every business operating in this country...

Win Win

GP NW Indiana

So then, who pays? Or does Obama just sell another trillion in T-bills to the Chinese to cover the cost for a year or so? Not so much of a win-win anymore, is it?

Think - Then Type (Sent Friday, March 06, 2009 1:45 PM)

I thought that John McCain didn't use a computer because of his war injuries. Texting on Twitter takes some real dexterity.

I remember when the republicans were defending his lack of tech skills because of injuries. Times change.

Just curious (Sent Friday, March 06, 2009 1:59 PM)

I know how we can save money I do believe it is the taxpayers who are paying for the politicians healthcare and that surgery Mrs. Bush just got many poor people need it and can't get it. Why don't the rich politicians pay for their own healthcare and their families and give to those who do need it.
Poor people do pay taxes it may not be much to those who make more but it is a lot for the poor to pay when you consider they can't get past minium wage with no healthcare.

GOP should be for paying their own healthcare since they are the ones who are against it

marsha moore chicago, il (Sent Friday, March 06, 2009 2:05 PM)

John McCain wants to argue for a perfect world or nothing.

People who care to know already understand that members of both parties make use of earmarks and the practice takes place in both the House and Senate. We know that the budget process is as much about negociation as anything and that many of the earmarks are included as part of the give and take needed to find agreement....and aagain, it is a tactic used by both parties.

McCain is trying to bait Obama into a veto knowing that a veto of the bill would be more disruptive to the country than the pork.

Lastly......even Pork creates jobs and right now, we need to get people back to work and back into the economy.

New Indi (Sent Friday, March 06, 2009 2:05 PM)

Well, Obama standing there and cutting down the nations economy for weeks on end didn't help. He did that to scare people into passing that massive stimulus bill that isn't really stimulus. The markets see both of those things, 1) The Gloom and Doom rhetoric from Obama and 2) A stimulus plan that is anything but stimulus, and they reacted accordingly. Obama made a tough situation much worse by his actions. Now's he's just ignoring the problem and running around talking about spending more money on health care.

Hope that answers your question.
T. Rollings, CA (Sent Friday, March 06, 2009 1:05 PM)
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If President Obama just stood there and said "everything is fine, keep buying stuff, go about your business" every press conference, we'd still be at 7000...

not only that, but we would be saying "How naive is this guy? He has no idea what's going on!!!"

The only thing he can do right now is be honest...if he says nothing, he get's labled as "do nothing". If he says we're already rebounding and our economy is strong then everyone that knows anything about investing calls him out saying that he's a "Financial Idiot"

He is doing exactly what he should be doing. It's a financial hurricane right now...if you didn't leave town then board up your windows and ride it out if you got caught in the storm.

The President can't stop Hurricanes either.

GP NW Indiana (Sent Friday, March 06, 2009 2:06 PM)

Nashville Fan, no one expects him to say or do anything to magically make the banks solvent. There is no magical solution to the economic problems in this country. But focusing on health care and other matters when his first and only priority right now needs to be the economy would be a good idea. Contrary to what he said yesterday, the health care crisis is not the reason we're having economic problems. I think it's great he's addressing it, but right now his focus needs to be on one thing only.
Claire (Sent Friday, March 06, 2009 12:48 PM)

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Claire,

You seem blind to the fact that health0care and the economy are inexorably linked. Every 30 seconds an american declares bankruptcy due to health care costs. Small business that DO offer ins. are hurt. Our large corporations (Like GM) can't compete with manufactures who don't ahve to pay healt-care costs.

Yes the Economy is job#1, but fixing health care iwll help fix the economy.

Ted, Mid Michigan. (Sent Friday, March 06, 2009 2:13 PM)

"Well, Obama standing there and cutting down the nations economy for weeks on end didn't help. He did that to scare people into passing that massive stimulus bill that isn't really stimulus. The markets see both of those things, 1) The Gloom and Doom rhetoric from Obama and 2) A stimulus plan that is anything but stimulus, and they reacted accordingly. Obama made a tough situation much worse by his actions. Now's he's just ignoring the problem and running around talking about spending more money on health care."
********************************

If you think that's all it takes to drive the market, wouldn't a few kinder words reverse the trend? You are being a bit naive. The market is driven by investors who act in their own best interests. That's it. That's all there is to it. And the rest of us sit around and think that somewhere out there there is a fund manger doing what's good for our 401K's? Get real. It's individual greed, not words, that drives the market.

Jim/Lex (Sent Friday, March 06, 2009 2:15 PM)

Nashville fan and GP NW Indiana are right. There is no magic bullet to turn things around immediately. Everything is tightly interwoven so unwinding it is complicated. Why can't people understand that the very worst thing this Government could do is nothing and best thing is for it to spend money. President Obama didn't create the $10 trillion dollar debt that existed before he took office, he didn't deregulate the banks and mortage companies, he didn't cut the taxes to benefit the wealthiest group so those rich corporations could send the jobs overseas. Get a grip republicans and accept that Reaganomics was tried, failed and crashed this economy. Get a grip that President Obama cannot fix in 46 days the 15 year destruction of our financial institutions. The president talks about the economy everyday and everything he has planned will impact the economy but it will take time.

To those complaining about health care, fixing the system will have a huge impact on the economy. Corporations will be more competitive if the insurance burden is spread around, why do you think the corporations were at yesterday's summit? They know the truth. For every person who has health care and pays for it whether subsidized by their employer or not, is paying huge costs for those who don't have insurance. It's simple, to recover the loses, we pay more.

Jody, Iowa (Sent Friday, March 06, 2009 2:16 PM)

I'm glad John McCain is standing up for fiscal sanity. I hope he succeeds in shaming his colleagues into removing some pork from the shamefully-bloated "stimulus" legislation, or, better yet, into defeating it altogether.

Laurel Federbush (Sent Friday, March 06, 2009 2:24 PM)

John McDunce was AWOL during the years that the Repukes were porkbelling up to the trough and spending like there was no tomorrow. My question to McDunce, were in th "F" were you POS.

Terry, Disabled Vet, Des Moines, IA (Sent Friday, March 06, 2009 2:24 PM)

Nashville Fan,

I don't disagree with your contention that health care costs are a big problem. But right now, it's not our biggest problem. When the president likens the gyrations of the stock market to a presidential tracking poll as he did the other day, it sounds as though he's either a. cavalier about the woes of average Americans losing their retirement savings or b. utterly clueless as to how to go about restoring confidence. Maybe putting more effort into staffing Treasury and focusing ONLY on the economy rather than talking about health care would be a better use of his time right now. Yes, I know they're all related, but health care reform, while important and necessary, is more of a luxury item right now.

Claire (Sent Friday, March 06, 2009 2:26 PM)

Anyone who has been to any kind of doctor or hospital recently knows this: They'll cha-ching your wallet and life savings away....WITH OUT WITHOUT INSURANCE!
There are some mighty fine, dedicated medical professionals out there who are saving lives, I know some. But there are wayyyy too many who are only in the biz for the bux. McCain needs to stop tweeting.

Sheila Bohrt (Sent Friday, March 06, 2009 2:29 PM)

Nashville_Fan:

Long ago in a post I made a point that I would have taken the second half of the bank bailout money and use it for what I consider a legitimate government purpose: Provide a safety net and help for the people directly affected by this economy. That would include ensuring unemployment benefits and extending them, especially because normal time limits shouldn't apply during extraordinary times. Same with assisting with healthcare and food.

Aside from that I was against the "stimulus" package. I think I even joked that by using the $350 billion bailout funds for a "safety net" and junking the stimulus I had just saved us all $1 trillion.

The point is that the $8 billion in earmarks translating to a certain amount of unemployment reflects my belief that the government's role should be limited while the economy works itself out, like it historically has always done since World War II.

That being said, like you I don't really get much heartburn over earmarks because I do see them as a method of distribution. Abuse of earmarks is another story and can only be argued politically or philosophically, usually with no discernible benefit. Earmarks only reflect money we've already sent to D.C. or are committed to.

In reality, even a wasted dollar serves a productive purpose at some point. I'd rather see that waste start at the grass roots level, perhaps spent at my local bar.

Richard, Washington State (Sent Friday, March 06, 2009 2:29 PM)

What magic remedy is at hand that President Obama is callously refusing to employ?

Nashville_fan,

My response to your question is this: The magical thing President Obama and the Treasury can do is stop pouring money into banks that are losers. Let Citi go bankrupt (they're not worth anything now anyway) and let their assets be liquidated to healthier banks. Yes it will be painful in the short term, but at this point it is the only adequate solution.

The stock market is reacting to the administration's unwillingness to let the markets work, aka the uncertainty around exactly what the White House is doing. Will they nationalize or partially nationalize some banks? Will they keep propping them up as "zombies"? Will they address the bad assets the banks have on the books? Will they change accounting rules?

Whether you want to admit it or not, the stock market is primarily foward-looking, not backward. Last year's losses have already been baked into stock prices. That includes banks like Citi that carried huge losses in 2008 due to write-downs on bad assets required via mark-to-market accounting.

Right now, the markets are looking into the future and they don't have much confidence. Probably due to a lack of clarity coming from the White House and Treasury. I know the President is a fan of multi-tasking, but a major positive signal to the markets would be for him to disengage from all these other domestic issues and focus on the economy. If he came out and said, "I'm clearing my desk. The only job my administration has right now is to fix this economy," you would see an upswing in the markets. He would then need to follow that with sensible policy, like allowing the losers to wash out and letting the winners gain momentum. (This is true for banks, automakers and, even, homeowners.)

Mitch, OH (Sent Friday, March 06, 2009 2:48 PM)

Has Senator McCain tweeted about what is being said about the Republican pork in this budget? Isn't it funny that all at once Senator McCain is Tweeter savvy when he couldn't even open the computer to read or write an email during the campaign? Another ploy to "reach" the electronic savvy population - just like the "hip hop" lingo that the new RNC leader talked of? What are they trying to do - reach out to younger people or just look more like the out of touch fools they have alread portrayed? You can also add the gangster dressed Rush Limbaugh jumping up and down like a fool at the CPAC meetings last week. John McCain is still campaigning and wanting to be heard - sorry, you lost.

Marcia Gerber, Moline, IL (Sent Friday, March 06, 2009 2:48 PM)

So then, who pays? Or does Obama just sell another trillion in T-bills to the Chinese to cover the cost for a year or so? Not so much of a win-win anymore, is it?
Think - Then Type (Sent Friday, March 06, 2009 1:45 PM)
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I assume that you think we should just leave it alone and let healthcare bleed us dry?

And I got a question for you bright eyes.... What do you do when you run out of money, and you get sick?...you use the credit card don't you. And when you get better and back to work you pay it off by working hard and working smart.

That's our economy right now. I know, I know...cut services...that's what you'd prefer. That's a treatment not a fix. You cut services, you lose even more jobs and send the economy into a further spiral.

IT'S ABOUT EFFICIENCY, so you think before you type.

P.S. Japan has bought as much U.S. debt as china and has had so for the last 20 years, I don't see you spouting off about them.

GP NW Indiana (Sent Friday, March 06, 2009 3:00 PM)

John McFeigned Outrage didn't mention the pork of his Arizona colleague John Kyl or his best buddies , self righteous Joe Lieberman and Hissy-Fit Lindsey Graham.
Why doesn't he go home, assuming he remembers where that is

GW, Vancouver, Canada (Sent Friday, March 06, 2009 3:01 PM)

"Right now, the markets are looking into the future and they don't have much confidence. Probably due to a lack of clarity coming from the White House and Treasury. I know the President is a fan of multi-tasking, but a major positive signal to the markets would be for him to disengage from all these other domestic issues and focus on the economy. If he came out and said, "I'm clearing my desk. The only job my administration has right now is to fix this economy," you would see an upswing in the markets." - Mitch, OH
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Mitch,

Thanks for your response. The problem I have is that President Obama is the President of the United States, not just Wall Street.

He MUST address ALL of our needs, not just financial ones. Healthcare is a matter of life and death to many Americans, and not something to be casually brushed aside like an optional science project.

Besides that, President Obama could clear his desk, hire 50 people for Treasury, and give a speech about the economy every day, and that is still not going to fix our financial system.

It took YEARS to get into this mess, and its going to take YEARS to get out. Just because we live in an instant gratification society does not change this basic fact.

President Obama is doing his job, and well.

It is the media and the American people who need to adjust to the new reality.

No lies to make us feel better.

No instant results.

It takes time to build a good foundation - but that is what it takes for things to last.

Nashville_fan (Sent Friday, March 06, 2009 3:06 PM)

PLEASE, McCain may twitter, but he does absolutely nothing for Arizona. Zero!! McCain get a grip, we need things too. But, what do we get, nothing!! Stop running for president already. You had two turns at that and lost. So get over acting like you're an avenging angle or something.

judesuper (Sent Friday, March 06, 2009 3:09 PM)

My response to your question is this: The magical thing President Obama and the Treasury can do is stop pouring money into banks that are losers. Let Citi go bankrupt (they're not worth anything now anyway) and let their assets be liquidated to healthier banks. Yes it will be painful in the short term, but at this point it is the only adequate solution.

Mitch, OH

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Mitch I'm glad you thought out your points and brought in a lot of good discussion...

The problem with this reasoning is AIG was the backing to alot of these institutions...you let AIG fail and some of the bigger banks fail...the smaller ones follow suit because of the investments they have with the troubled banks.

Also if these banks go bankrupt, many of the blue chips also weaken because of the exposure they had with these institutions.

The Market collapse would be catastrophic...I'm talking DOW 1800-2300...just wipe a chuck of stuggling banks market capitalizations of the boards. And send some blue chips with it.

That's the "market correction" we are looking at.
The sad thing is these companies know this and occasionally take advantage of the situation.

Lets be thankful that the social security reform bill that tied funds to the markets didn't pass...

GP NW Indiana (Sent Friday, March 06, 2009 3:10 PM)

Dear Senator McCain:

You were one of the biggest advocates for the War in Iraq.

That costs us $10 billion A MONTH.

Now you tell us that the biggest crisis we face is the $8 billion dollars for a YEAR in "evil earmarks" in this bill?

Please shut up.

Nashville_fan (Sent Friday, March 06, 2009 3:15 PM)

You seem blind to the fact that health0care and the economy are inexorably linked. Every 30 seconds an american declares bankruptcy due to health care costs
----------------------------------------------------
That's already been debunked as a total falsehood. Just because Obama says it doesn't make it true. That's kind of like 'there's not a single piece of pork in the stimulus bill.'

Umm hmmm (Sent Friday, March 06, 2009 3:25 PM)

I'm so glad the GOP can twitter after flushing our coutry down the $hitter............

Tek Jansen, saving the world (Sent Friday, March 06, 2009 3:27 PM)

But focusing on health care and other matters when his first and only priority right now needs to be the economy would be a good idea. Contrary to what he said yesterday, the health care crisis is not the reason we're having economic problems. I think it's great he's addressing it, but right now his focus needs to be on one thing only.
Claire (Sent Friday, March 06, 2009 12:48 PM)

He said FIRST priority NOT ONLY priority. He is able to multitask unlike some in DC apparently are able to do. There is some relation there. This whole thing is tied together in one way or another. To pretend they are totally different entities is missing the big picture and a lot of the fine detail of what is going on.

moir (Sent Friday, March 06, 2009 3:35 PM)

Nashville_fan,

Your hypothetical did not include fixing the entire economy. Your construct was "make the banks solvent using no taxpayer money and send the stock market over the moon." So that's what I responded to. Granted, letting bad banks fail runs counter to your first outcome, but it requires no (more) taxpayer money and it will give the markets some certainty. I'm not saying it is an easy fix, or one that will not be painful, but, as you point out, it took years to create a false economy and it may take that long create a true economy in its place. Simply propping up the false economy is a waste of money.

GP,
Thank you for the thoughtful response. My only counterpoint here is that the "investments" you mention that the large banks are holding (whether from blue chips or smaller banks) are actually assets. These assets presumably have value on the open market and can be liquidated. They don't simply disappear.

The real exposure the blue chips have with the large banks right now are the large credit revolvers many companies had secured to either expand capital projects or to bolster cash flow. These credit revolvers, if they were through Citi or JP Morgan or name any of the big banks, are essentially nonexistent right now. So large C-corps have gone to other institutions to secure credit, if it is available at all.

Mitch, OH (Sent Friday, March 06, 2009 3:55 PM)

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