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	<title>The Washington Independent &#187; economu</title>
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		<title>McCain: For the Geithner Plan</title>
		<link>http://washingtonindependent.com/35848/mccain-for-the-geithner-plan</link>
		<comments>http://washingtonindependent.com/35848/mccain-for-the-geithner-plan#comments</comments>
		<pubDate>Thu, 26 Mar 2009 16:11:32 +0000</pubDate>
		<dc:creator>David Weigel</dc:creator>
				<category><![CDATA[Blog (deprecated)]]></category>
		<category><![CDATA[Congress]]></category>
		<category><![CDATA[Economy/Finance]]></category>
		<category><![CDATA[McCain]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[AEI]]></category>
		<category><![CDATA[Budget]]></category>
		<category><![CDATA[economu]]></category>
		<category><![CDATA[john mccain]]></category>
		<category><![CDATA[tim geithner]]></category>

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		<description><![CDATA[<p>Sen. John McCain (R-Ariz.) just gave an address on &#8220;generational theft&#8221; at the Heritage Foundation and semi-endorsed Treasury Secretary Tim Geithner&#8217;s plan for purchasing toxic assets from financial institutions. &#8220;It&#8217;s progress,&#8221; McCain said, generating a few sighs in the packed room. He opposes any more TARP money going out without <a href="http://washingtonindependent.com/35848/mccain-for-the-geithner-plan" class="read_more">More...</a></p>]]></description>
			<content:encoded><![CDATA[<p>Sen. John McCain (R-Ariz.) just gave an address on &#8220;generational theft&#8221; at the Heritage Foundation and semi-endorsed Treasury Secretary Tim Geithner&#8217;s plan for purchasing toxic assets from financial institutions. &#8220;It&#8217;s progress,&#8221; McCain said, generating a few sighs in the packed room. He opposes any more TARP money going out without more oversight, but wants to give Geithner&#8217;s plan a chance. His preference is that banks be &#8220;taken over, their managers suffer for their failure, and their assets sold off,&#8221; another comment that didn&#8217;t light up the room.</p>
<p>The speech rather quickly dovetailed into an attack on earmarks. &#8220;I&#8217;m aware that earmarks consume a very small proportion of the budget,&#8221; McCain said. The reason to focus on them is that they&#8217;re &#8220;deeply, deeply offensive&#8221; to Americans who are tightening their belts.<span id="more-35848"></span></p>
<p>McCain also argued that the GOP wasn&#8217;t a &#8220;party of no,&#8221; (they had proposed smaller, tax-cut focused stimuli) and he ruled out any attempt to to use the budget reconciliation process to pass health care, education, or environmental reform. Doing that would debase &#8220;the normal 60 vote requirement that makes the Senate the unique environment that it is.&#8221;</p>
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