‘Economists for McCain’ trash McCain’s new mortgage plan

It’s pretty bad when the people who originally backed you are now trashing your best laid plans that is suppose to convince the general public you know what you are talking about. Apparently McCain was correct when he said “Economics is just not my thing.”

‘Economists For McCain’ Trash McCain’s New Mortgage Plan

Many of the professional economists who formally endorsed John McCain’s economic plan are expressing bewilderment with his most recent proposal to rectify the home mortgage crisis.

…roughly a dozen of McCain’s economist supporters said they disagreed with the Senator’s recent proposal — for the government to buy distressed mortgages at face value from banks and renegotiate them with homeowners. Several viewed it as a gimmick, driven mostly by political circumstance. Only one pro-McCain economist spoke up in favor of the plan.

“This is just political gamesmanship,” said Robert H. Heidt, a professor at the Indiana University School of Law. “The bill is wildly over-ambitious in trying to rescue home buyers from the downturn in real estate appreciation. It’s costs would never end.”


Isn’t this the same guy who just said a couple of weeks ago, that government should get out of BIG business because the economy was fundamentally sound?

Now he is politicizing another issue just like he did with his VP pick and look where that got him. It got him off message with a VP who broke the law. Finally, we found something that makes Palin qualified to be POTUS…she knows how to abuse power.