Email From Senator John McCain

My Friends,

We are in the greatest financial crisis of our lifetimes. Congressional inaction has put every American and the entire economy at the gravest risk. Yesterday the country and the world looked to Washington for leadership, and Congress once again came up empty-handed.

I am disappointed at the lack of resolve and bipartisan good will among members of both parties to fix this problem. Bipartisanship is a tough thing; never more so when you're trying to take necessary but publicly unpopular action. But inaction is not an option.

If we do nothing, many businesses may fail. Sonic Corporation, a drive-in restaurant chain based in Oklahoma, learned on Thursday that one of its lenders, GE Capital, had stopped extending new loans to the chain's franchisees. That will block plans to rebuild restaurants, add equipment and open new locations.

When financing dries up, students can't get loans. In Wisconsin, more than 100 Milwaukee Area Technical College students couldn't access private loans to fund their education. Fortunately the school was able to come up with emergency loans, but this temporary arrangement cannot continue. Markets need to work so that people can get financial help and students can be educated.

Again, inaction is not an option. In light of the House's failure to act, this morning, I spoke to the President about two things that the administration has not done, but should do following the inaction of Congress. First, the Treasury has already used its Exchange Stabilization Fund to back money market accounts. I encourage it to use it this fund as creatively as possible to provide backstop for accounts across our financial system to maintain confidence on the part of savers and investors. And second, the recent housing bill gave the government nearly $1 trillion in authority to purchase mortgages. Housing and mortgages are at the root of this crisis.

The Administration can take these actions with the stroke of the pen to help alleviate the crisis gripping our economy. I urge them to do so.

The FDIC should quickly be granted the authority to increase the deposit insurance cap from $100,000 to $250,000 so that families do not have to worry about their money. We cannot allow a crisis in our financial system to become a crisis in confidence.

I call on everyone in Washington to come together in a bipartisan way to address this crisis. I know that many of the solutions to this problem may be unpopular, but the dire consequences of inaction will be far more damaging to the economic security of American families and the fault will be all ours.

And to my supporters, I assure you I will continue to do whatever I can to aid in a constructive answer to the challenge before us.

Sincerely,

John McCain

P.S. I'm asking you to pass this email along to your friends, family, neighbors and colleagues. We must spread the word that inaction is not an option.

"FISCAL RESPONSIBILITY"

I just came across this proposal in a forum and thought I should share it with all of you.

THIS IS CALLED "FISCAL RESPONSIBILITY"...

OKAY YOU ECONOMISTS, WHAT DO YOU THINK OF THIS PROPOSAL!!!

I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve
It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide
Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and
child. So 200,000,000 might be a fair stab at adults 18 and up..

So divide 200 million adults 18+ into $85 billion that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It
Dividend.


Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.

A husband and wife has $595,000.00.

What would you do with $297,500.00 to $595,000.00 in your family?

Pay off your mortgage - housing crisis solved.

Repay college loans - what a great boost to new grads

Put away money for college - it'll be there

Save in a bank - create money to loan to entrepreneurs.

Buy a new car - create jobs

Invest in the market - capital drives growth

Pay for your parent's medical insurance - health care improves

Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who
lost their jobs at Lehman Brothers and every other company that is cutting
back. And of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ( 'vote buy' ) economic incentive that is
being proposed by one of our candidates for President.

If we're going to do an $85 billion bailout, let's bail out every adult U S
Citizen 18+!

As for AIG - liquidate it.

Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.

Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can 'never work.'

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion

We Deserve It Dividend more than I do the geniuses at AIG or in Washington
DC .

And remember, this plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam.

$700 Billion Dollar Bailout Voted Down

I am sitting here watching the morning shows and watching the Democrats and the media blame the Republicans for H.R 3997, Financial Services Bill. Both parties are to blame here. This is not a democrat or republican issue, it is the issue of financial stability for our country and the world. But since the media and democrats have decided to point the finger, let's look at the vote tally:

Democrats Yes: 140 No: 95 No Vote: 0
Republican Yes: 65 No: 133 No Vote: 1


In looking at the vote, by the numbers, the Democrats favored this bill more than the Republicans, but let us look at the percentages. 40.4% of House Democrats voted against the bailout package and only 32.8% of House Republicans. Looks to me that a larger amount of Democrats opposed this bailout package than Republicans. This bill needed a simple majority of 218 votes to pass and the Democrats hold the majority in the House with 235 members, yet they could only get 140 of their party members to vote for the package. If the Democrats really wanted to pass this bill, they could have with their majority alone, but yet it failed. This bill could have passed with just 13 more of the Democratic no votes switching to yes. If the Democrats really wanted to get this bill passed, they could have, but they didn't and in typical Democrat fashion they are pointing the finger across the isle. Republicans have been quite vocal about the fact that this bailout is vital to American, but they want to protect American Taxpayers and Companies. This writer knows a bailout is necessary, but I want them to do it right, so we do not have to go through this again. But, one main problem still lies, how did we get here? This video is very eye opening and I urge you all to watch it:

Burning Down The House: What Caused Our Economic Crisis? (scroll down on page for video)

It opened my eyes, I hope it opens yours!

Welcome

Welcome to the official blog for ILUVMCCAIN.COM. I hope you find my site both informative and thought provoking. This is an interesting and pivotal time for our country. On November 4, 2008, Americans will make their voices heard as we choose the next leader of our great country. As an American, I know it is my civic duty to vote on election day and part of the duty is to be an informed voter. I will do my best to inform all of you and prepare you for election day.

All of us have just over a month to learn as much about John McCain and Barack Obama and their plans for America. We will have to choose which candidate is best for America and most of all, which candidate is ready from day one.

So this November, make sure you do your duty and vote. Vote for change, vote for the candidate ready to lead from day one, vote for integrity, vote for a hero, vote for John McCain.