Monthly Archives: April 2010

The DoubleSpeak of RINO John McCain

My friends, it’s time for some real RINO talk…

RINO TARPster John McCain

How many times will RINO TARPster McCain be misled by the government?

1. $85 billion AIG Bailout

In his Today appearance with co-host Matt Lauer on Sep 16th, 2008, RINO McCain opposed the $85 billion bailout of the American International Group (A.I.G), stating that “we cannot have the taxpayers bail out AIG or anybody else.”

On Sep 17th, 2008, RINO McCain made the following statement, “Today, the government was forced to commit $85 billion to stop the collapse of A.I.G., another in a growing series of events that includes Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac. These actions stem from failed regulation, reckless management, and a casino culture on Wall Street that has crippled one of the most important companies in America. The focus of any such action should be to protect the millions of Americans who hold insurance policies, retirement plans and other accounts with AIG. We must not bail out the management and speculators who created this mess. They had months of warnings following the Bear Stearns debacle, and they failed to act.”

Was the government forced because Obama raked in $142,403 and McCain received $74,324 from A.I.G executives while the company was falling apart in 2008?

2. $25 billion Auto Bailout

According to automotive.com, both John McCain and Barack Obama supported the government lifeline to automakers and lawyers from legal firms contracted to review ATVM loans generously donated to both candidates.

On September 30th, 2008, the Advanced Technology Vehicles Manufacturing Loan Program (ATVM – part of Public Law 110-329) was funded with $25 billion in direct loans were authorized reequipping, expanding, and establishing manufacturing facilities in the U.S. to produce fuel efficient vehicles.

3. $700 billion TARP Bailout

On Sept. 24, 2008, RINO McCain temporarily suspended his presidential campaign to address the economic Crisis and vote for the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008 which became Public Law 110-343 on on October 3, 2008.

Through the program for Systemically Significant Failing Institutions under TARP, the government spent another $67.8 billion to purchase preferred shares of American International Group (AIG) and everyone who voted for TARP knew exactly that Taxpayer money would be used to Bailout Wall Street.

After he voted for the unpopular TARP Bailouts, RINO McCain said he was misled by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke who assured RINO McCain that the TARP would focus the housing meltdown as the cause of the financial crisis.

“Obviously, that didn’t happen. They decided to stabilize the Wall Street institutions, bail out (insurance giant) AIG, bail out Chrysler, bail out General Motors. . . . What they figured was that if they stabilized Wall Street – I guess it was trickle-down economics – that therefore Main Street would be fine.” RINO McCain said in a meeting with The Republic’s Editorial Board on Feb 18th, 2010

4. $300 billion Mortgage Bailout Plan

On Oct 7th, 2008, RINO McCain introduced his “American Homeownership Resurgence Plan” to buy up bad home-loan mortgages at taxpayer expense and replace them with manageable mortgages.

Did RINO McCain conveniently forget “The Housing and Economic Recovery Act of 2008?” Public Law 110-289 (enacted on July 30, 2008) authorized up to $300 billion Federal Housing Administration guarantees for new 30-year fixed rate mortgages to subprime borrowers if lenders reduce principal loan balances to 90 percent of current appraisal value as a way to restore confidence in Fannie Mae and Freddie Mac.

At times, John McCain may talk like a Conservative yet, he legislates like a Progressive RINO(1).

To view all tweets, please click Here.

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Footnotes:

(1) A Progressive believes in Big Government not limited Self-government, Redistribution of Wealth not Protection of Individual Income, Social Justice not personal Accountability, and the U.S. Constitution is a Living (Changing) Document, a belief that is UnConstitutional. A Progressive RINO believes in the same values as a Progressive plus he/she will compromise conservative values in the name of bi-partisanship, and talk like a Conservative while he/she legislates like a Progressive Liberal.

In 2001, RINO McCain voted against the $1.35 trillion Bush Tax Cut (the Economic Growth and Tax Relief Reconciliation Act of 2001) because it ‘favored the wealthy’ by stating on the floor, “I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle class Americans who most need tax relief.”

In 2003, RINO McCain voted against the $350 billion Bush Tax Cut (the Jobs and Growth Tax Relief Reconciliation Act of 2003) saying it was “not appropriate until we find out the cost of the war and the cost of reconstruction.”

On May 11, 2006, RINO McCain shifted his position into reverse and voted to extend the Bush Tax Cut (Tax Relief Extension Reconciliation Act of 2005) saying “the economy had adjusted – the tax cuts were there.”
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After Lieberman and McCain failed to limit greenhouse gas emissions under their Climate Stewardship Act of 2003, S. 139 Bill, the Dynamic Duo of Cap N Trade introduced the Climate Stewardship and Innovation Act of 2005, S. 1151 aka Cap N Trade (Crap N Tax) to limit CO2 emissions to the 2000 level resulting in increased manufacturing costs which would export jobs and wealth overseas to nations who CO2 levels are not reduced.

According to the Heritage Foundation, electricity prices could jump by 36 to 65 percent by 2015 under Crap N Tax.

Fortunately, S. 1151 (introduced as S.Amdt. 826 under the Energy Policy Act of 2005, H.R. 6) was defeated on a 38-60 vote.
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McCain and Kennedy sponsored Immigration Reform under the Secure America and Orderly Immigration Act (“McCain-Kennedy Bill,” S.1033) in 2005 and helped craft The Comprehensive Immigration Reform Act of 2007, S. 1348 in 2007 that would give Illegals ‘Legal status’ when they pay a $1,500 fine and allow them to qualify for citizenship after 6 years living in the United States.

RINO McCain’s Social Justice of giving Amnesty for Illegals ignores Accountability, the Rule of Law, and the Constitution in the name of bi-partisanship.

Fortunately, both Immigration Reform Bills have failed but they have been replaced by the ongoing DREAM Act (Development, Relief, and Education for Alien Minors). The latest version of the DREAM Act was introduced on May 11, 2011 as S. 952 in the Senate and H.R. 1842 in the House. Both Bills also died on May 11, 2011.
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On January 21st, 2010, the Supreme Court struck down major portions of the McCain–Feingold Act (The Bipartisan Campaign Reform Act of 2002) for violating Free Speech. The 5-to-4 decision also removed Campaign Spending Limits imposed on corporations and unions.

The McCain-Feingold law favored the campaign of incumbents and reduced the voice of ‘We the People’ in Washington.

(2) Note: Miss Moneypenny posts Political Satire on Twitter at twitter.com/moneypenny008 and Twitpic at twitpic.com/photos/moneypenny008. Readers can also view my tweets and Twitter conversations at tweetree.com/moneypenny008.