McGrampy has lost it
posted by
Dookie The Webmaster
6:11 AM
McCain at dead end as House rejects bailout plan
Republican John McCain has maneuvered himself into a political dead end and has five weeks to find his way out.
Last Wednesday, McCain suspended his presidential campaign to insert himself into a $700 billion effort to rescue America's crumbling financial structure. In so doing, he tied himself far more tightly to the bill than did his Democratic opponent, Barack Obama.
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The implication: that he played a critical role in building bipartisan support for the unprecedented bailout.
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Both he and Obama had insisted the plan originally proposed by the Bush administration be strengthened with greater oversight and regulation.
Within hours, however, the measure died in the House mainly at the hands of McCain's own Republicans.
Initially, McCain went silent, choosing instead to send his chief economic adviser out with a statement that blamed Obama, claiming that the first-term Illinois senator had put his political ambitions ahead of the good of the country.
"This bill failed because Barack Obama and the Democrats put politics ahead of country," McCain senior policy adviser Doug Holtz-Eakin said.
It wasn't long, however, before McCain told reporters in Iowa: "Now is not the time to fix the blame, it's time to fix the problem."
All in all, McCain might have been better served by staying out of the mess and above the fray.
228-205
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