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.”
(CBS)
"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." - CBS News
I don't see how this Stimulus plan is going to help. It may slow the dip, but it will dip and dip even further due to this package. The Government is trying to bail out a bunch of Bankrupt companies, states, and people. By doing this the Government themselves are heading into bankruptcy. Obama criticized Bush for burrowing money from China, Where do you think this money is coming from? We sure don't have it? The scariest part is that this is only the beginning. There are Billions and Trillions of Dollars more in spending coming down the pipe line. We are going further and further into debt. Obama and the Democrats complained that they were left with the largest debt ever, but they are just growing that debt. Where is the plan to reduce it?
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