McCain and Obama agree on something.

[PLC1]

2 Candidates Urge Greater Oversight in Bailout Plan

PHILADELPHIA — Senators John McCain and Barack Obama warned Sunday that there should be more oversight built into the government’s $700 billion plan to stabilize the financial markets but said the potentially enormous expenditure would not force them to scale back their ambitious governing agendas.

Mr. McCain, the Republican presidential nominee, and Mr. Obama, his Democratic rival, agreed in separate interviews that steps should be taken to ensure taxpayer dollars are not used to enrich the executives of troubled financial firms bailed out by the government. They echoed each other in assessing the threat from the financial crisis as severe enough to warrant government intervention.

So,they both agree that giving away $700 billion of borrowed money without any oversight is a bad idea, and the Democrats in Congress at least are on board with that.

Neither wants to give up expensive proposals, however, just because of a little 700 billion setback.

I wonder just how much the deficit will actually be this time around? The budget gurus were predicting nearly $500 billion, add to that another $700 billion, and we have a potential deficit that could top a trillion dollars.

But, it is good news that neither candidate wants to just give the money away, or give one person carte blanch to spend it as he sees fit.

 

[Phoenix68]

McCain and Obama agree on something​

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It was time for McCain to bow-out.
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