Is McCain A Three Time Loser?
February 5th, 2009 by admin

Senator John McCain is in the throes of a losing spiral over the past few months. He lost the presidential election in November and on the first Sunday in February his beloved Arizona Cardinals lost the Super Bowl.
McCain and many of his Republican colleagues are now “doubling down” by opposing the President’s “stimulus package”. McCain told CBS television,
“There’s too much spending, too much unnecessary spending, not the right kind of tax cuts and no end game,” McCain said. “In other words,after the economy recovers, we should be on a path to a balanced budget. We’re laying the biggest deficit on future generations of Americans in history.”
McCain also commented on the Cardinal’s Super Bowl loss,“The old guy, [Kurt] Warner, almost won. For a change, an old guy almost won. I’m proud of him,”
At the same time, President Barack Obama not only bested McCain in
November but the Pittsburgh Steelers whose owner ,coaches and players
campaigned for him “stole” victory from McCain’s Cardinals in the last
few seconds of the big game.
The President is still riding a hot streak with the people of the nation.The Gallup daily tracking poll found that 66% of Americans approve the President’s performance during the first two weeks of his presidency. At the same time the Diageo/Hotline Poll found that only 26% of Americans approve of the performance Congressional Republicans.
The arithmetic suggests that McCain and his Republican colleagues are engaged in a high risk strategy by challenging the popular new president’s major economic recovery initiative. Just today the President has called on his 13 million former campaign supporters to host house parties across the nation to support for his bill.
In part the Obama administration’s proposal is a classic example of the theory of twentieth century economist John Maynard Keynes. The thrust of Keynes’ theory is that the most important action government can take is to distribute money to people and get them to spend it.
“If the Treasury were to fill old bottles with banknotes, bury them at
suitable depths in disused coalmines which are then filled up to the
surface with town rubbish, and leave it to private enterprise on
well-tried principles of laissez faire to dig the notes up again . . .
there need be no more unemployment. . . . It would indeed be more
sensible to build houses and the like; but if there are political and
practical difficulties in the way of this, the above would be better than
nothing.”
(Keynes 1935)
So from the Keynesian perspective spending money on family planning, smoking cessation, the arts, and other programs Republicans are in themselves stimulative.
The Republican opposition gives homage to the free market views of Milton Friedman the late Nobel Laureate.Friedman opposed most government intervention in the economy and in 2001 Owen Ullmann interviewed Friedman and said,
Friedman and John Maynard Keynes are arguably the most influential economists of the Twentieth Century. But as we begin a new millennium, it is Friedman who seems to be winning the debate between the free-market school that he epitomizes and the government-interventionist advocates who see Keynes as their champion
In large measure the challenge by McCain and his fellow Republicans is a battle between competing theories of how to stimulate economic recovery. So when Democrats talk about spending will create jobs , Republicans counter that such spending is wasteful.
In an amazing show of solidarity 36 of the 41 Republicans in the U.S. Senate voted to strip all spending from the stimulus bill and replace it with all tax cuts, the DeMint amendment .
The President and his allies counter that spending and investment are the most effective methods that will jump start a turn around for the economy.
The President on the other hand has visible made a highly visible effort to include Republicans.
In football and politics you usually can not win playing the other team’s game.
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