McCain: Stimulus Bill Is "Generational Theft"

In his sixty-eighth appearance on Face The Nation, Senator John McCain called the stimulus bill heading towards a Senate vote this week "generational theft," and said he could not support the package as-is because of the debt it would create for America.

When asked by host Bob Schieffer if he would support the stimulus plan, the senator replied, "I can't Bob. I can't because I think it is the greatest transfer of not only spending but authority and responsibility to government."

He added, "I think it has policy changes in it which are fundamentally bad for America. For example, their 'Buy America' provision: that's protectionism, and that did not work in any time in our history.

"But most of all because I think this can only be described as generational theft."

McCain said that the Senate version of the package (which, even after some pruning by Republicans and Democrats, currently stands at $827 billion) would lead to a $1.2 trillion budget deficit, which he said marks only the beginning of a greater downward spiral. "We are going to amass the largest debt in the history of this country and we are going to ask our kids and grandkids to pay for it," he said.

"I know America needs a stimulus," McCain admitted, "but this is not it."

McCain also discussed the stimulus package negotiations, which he described as the antithesis of bipartisanship, and mocked the notion that "change" had come to Washington with the recent election.

"I think from the beginning when the Speaker of the House [Pelosi] said, 'We won, so we're writing the bill,' that set the stage," McCain said. Targeting Democrats in Congress and the White House, McCain said, "In the interest of full disclosure, that's the way the Bush administration [operated] when we Republicans were in charge. That's the way we did business, but I thought we were going to have change, that change meant we work together."



Also on the program, Democratic Senator Kent Conrad of North Dakota disputed McCain's remarks dismissing the stimulus bill, saying passage of a stimulus package is "absolutely essential."

Conrad also said he believed support for the bill could be built among House Republicans who had voted lock-step against it. "I think it is possible," he said, adding that he thinks the Republicans' insistence on not supporting the package is politically motivated.

"I think most of them have made a political calculation that it's better to be in opposition," he told Schieffer. "You can see that on a political basis because, look, this economy is in desperately serious shape. It is going to get worse before it gets better. So they will be able to argue 'This package was ineffective.'"

To download or view the full transcript of the program click here.

[SmartAmerican]

Did McCain not support first Stimulus for $ 700 Billion? Infect he stopped his campaign and went White House to join that loser (BUSH).
Bush, Dicki and Rumsfield planned the war, and pump in $ Trillions. Bush could easily send some commandos (as shown in Hollywood movies) and finish the business quietly. He killed more people than Sadam Hussain and looted the $ Billions. Bush mission to bankrupt America is almost accomplished. Now we are suffering this broken economy and Mr. Obama is having couple of Jokers, Gaithner and Bernake. They are pump in $ trillions in CITI and companies that are going to Bankrupt eventually. A caveman can do a better job than Bernake and Gaithner are doing. Mr. Obama gets some better and genius people, not losers like BUSH (POC).
What a shame!!!

[annaamed]

Republicans are the biggest hypocrites; May GOD put them in HELL. And they got another Joker known as Bobby Jindal, on the other hand their another loser Arnold Schwarzenegger is begging the stimulus money and trying to bankrupt California. This all republican do. Don?t forget Herbert Clark Hoover or Richard Nixon. I wish the Republicans (the hypocrites) never rule this Great country again.
Bush & Dicki are a losers; their mission to break America is almost accomplished.
GOD Bless America

[annaamed]

What has happened to American people listening to these losers? They have pumped in our $$ Trillions in war and when it comes to our unemployment benefit and health care, these crooks have all the excuse to say it is generation theft. GO TO HELL!
Just don?t forget the BUSH was the first who begged our tax money and gave it to his buddies in CITI and Bank of America etc etc. SUCKERS !!!

[larrylinn1]

Did not McCain interrupt his campaign, to go to Washington to fix the Republican-Bush economic crisis? Did he not support and vote for the bailout, based upon the 2 1/2 page request, with no details, from the Bush Mis-Administration? Was the economy repaired due to his effort? Did he not lose the election, due to his inadequate understanding of economics? Is not his education the Naval Academy, and other funded military schools funded by taxes? Besides how to procure tax funding for pet projects, what other economics are taught at these military schools? Was not he was raised in a family that depended upon taxes for income? Did not he serve in Congress, at the expense of taxpayers? Based upon his lifelong dependence upon taxes, why should anyone have confidence in his understanding of the economy in the private sector, let alone the impact of the government upon the national economy?

[b_mansdorf]

Geithner and Daschle are unethical tax criminals who is supported and nominated by Obama.

We will find out soon how much fraud and corruption comes out of this presidency.

[b_mansdorf]

Tom Harkin, the Iowa senator, was one of only three Democrats disturbed enough to vote against Geithner%u2019s confirmation. As he put it on the Senate floor: %u201CHow can Mr. Geithner speak with any credibility and authority as America%u2019s chief tax-enforcement officer?%u201D

[margreta-2009]

THE PRESIDENT MADE HIMSELF VERY CLEAR,WHEN HE SAID YES WE CAN CHANGE,,,,,,WE VOTED HIM IN OFFICE, WE VOTED THE SENATORS, AND CONGRESS IN OFFICE, WITHOUT THE PEOPLE NO ONE WOULD BE IN OFFICE.........THINK ABOUT THE AMERICA PEOPLE,WHAT IF THE SENATORS AND CONGRESS WALKED A MILE IN THE PEOPLE''S SHOES, NO JOB, OR LOSING JOB, NO HOME,OR LOSS HOME,NO FOOD TO BUY,NO MONEY TO BUY FOOD......COME ON PEOPLE IN WASHINGTON D.C. DON''T BE HYPOCRITES, WE SAID YES WE CAN,THE PRESIDENT SAID IT WOULDN''T BE EASY BUT TOGETHER WE CAN HAVE FOR ALL THE PEOPLE THE AMERICA DREAM, HAVE A EXCELLENT JOB, A BEAUTIFUL HOME, A NICE AUTOMOBILE,ABLE TO SAVE A LITTLE MONEY, GIVE SOME MONEY, TITHE SOME MONEY, AND BE A BLESSING TO ONE ANOTHER...WAKE UP CONGRESS, WAKE UP SENATORS IF YOU ARE TRULY FOR THE PEOPLE,THAN BE FOR THE PEOPLE,THE UNITED STATES IS A RICH COUNTRY,AND EVERYONE HERE SHOULD BE ABLE TO LIVE THE AMERICA DREAM,,,,,,,,MR.PRESIDENT OF THE UNITED STATES OF AMERICA, YOU ARE A GOOD MAN, I BELIEVE YOU ARE A GOOD PRESIDENT,AND AN EXCELLENT LEADER, GOD BLESS IN JESUS NAME.

[b_mansdorf]

Obama''s spending boondoggle calls for $600 million for the purchase of new cars for government bureaucrats, $75 million for anti-smoking programs, $335 for preventing sexually transmitted programs and $50 million for the National Endowment for the Arts. What happened to the major infrastructure projects which less than 5% has been earmarked?

Really, it should be labeled the taxpayers rip-off plan.

[b_mansdorf]

Obama''s spending plan will only fool and receive support from the uneducated, unemployed and people who don''t pay their taxes. In most cases, these are all obstacles in obtaining a legitimate form of employment. However, these are all the types of people who are part of the Obama administration or the only people these socialists care to help.

[jimsusancan]

Yep old John mocking change in Washington. That is all he can do anymore is mock the Obama Administration. Nothing constructive to add just the same of destructive "**********". He is a rebel all right but without a cause. One of those I/Me I/Me people completly full of himself and Sarah Palin. Remember her the V.P. gal who took the call from President Sarkozy of France via a radio station in Canada. How stupid and old John still thinks she is fabulous.