RARE UNANIMITY ON ECONOMIC POLICY…. Since unveiling his “Homeowner Resurgence Plan” during Tuesday night’s debate, John McCain has run into a little trouble selling his proposal. First, the plan might be illegal. Second, Democrats are beating McCain over the head with it. Third, economic experts think it’s a horrible idea.
Now, McCain’s conservative allies hate his idea…
John McCain is facing a fresh round of anger from members of his own party deeply opposed to the Arizona senator’s proposal for the federal government to purchase troubled mortgage loans. […]
[A]t a time when McCain can’t afford to worry about a lack of support from his party’s base, several conservatives are openly criticizing the plan as a flagrant reward for reckless behavior among lenders.
…and congressional Republicans aren’t sold, either.
How seriously are Republican members of Congress treating John McCain’s new $300 billion proposal for the government to buy up troubled mortgages?
On Thursday afternoon, the Huffington Post reached out to roughly two dozen press offices for Republican members of the Senate Banking and House Financial Services committees, not one of which was ready to talk about the GOP presidential candidate’s proposal in even the broadest terms.
Complicating matters, the McCain campaign was still shaping the details of the proposal after McCain announced it. McCain economic adviser Douglas Holtz-Eakin explained that on Tuesday, McCain relied on “lenders taking the hit,” but on Thursday, McCain reached the opposite conclusion, wanting taxpayers to take the hit.
Maybe McCain should suspend his campaign so he can convince policy makers how great his proposal is. Right now, the only person who likes McCain’s idea is McCain.
