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John McCain has a comprehensive economic plan that will create millions of good American jobs, ensureour nation's energy security, get the government's budget and spending practices in order, and bring relief to American consumers.
IMMEDIATE RELIEF FOR AMERICAN FAMILIES
Gas And Food Prices
John McCain will help Americans hurting from high gasoline and food costs. Americans need relief rightnow from high gas prices. John McCain will act immediately to reduce the pain of high gas prices.
 
John McCain believes we should send a strong message to world markets. Under his plan, the UnitedStates will be telling oil producing countries and oil speculators that our dependence on foreign oil willcome to an end – and the impact will be lower prices at the pump.
John McCain's policies will increase the value of the dollar and thus reduce the price of oil. In recentyears, the declining value of the dollar has added to the cost of imported oil. This will change.Americans will have a stronger economy, a stronger dollar and greater purchasing power for oil, gasand food.
John McCain believes we should institute a summer gas tax holiday. Hard-working American familiesare suffering from higher gasoline prices. John McCain called on Congress to suspend the 18.4 centfederal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day.o
Reuters
: Gas Tax Holiday "Of Most Immediate Effect To Consumers."
"Of mostimmediate effect to consumers was his appeal to the U.S. Congress to suspend the 18.4 centfederal gas tax and 24.4 cent diesel tax from Memorial Day at the end of May to Labor Day inearly September."
(Steve Holland, "McCain Proposes Tax Cuts And Lashes Democrats,"
Reuters
, 4/15/08)
o
USA Today 
: "A USA TODAY Analysis Showed That McCain's Gas-Tax Proposal CouldSave Motorists $6.8 Billion In Taxes During The Summer."
 
(Kathy Kiely, "Gas-Tax Holiday AmongMcCain's Plans For Economy,"
USA Today 
, 4/16/08)
John McCain will repeal the 54 cents per gallon tax on imported sugar-based ethanol, increasingcompetition, and lowering prices of gasoline at the pump.
John McCain will roll back corn-based ethanol mandates, which are contributing to the rising cost of food.
Home Plan
John McCain believes there is nothing more important than keeping alive the American dream of owninga home. Priority number one is to keep well-meaning, deserving home owners who are facing foreclosurein their homes.John McCain's approach to helping sub-prime or other financially strapped mortgage borrowers is built onsound principles:
No taxpayer money should bail out real estate speculators or financial market participants who failedto perform due diligence in assessing credit risks. Any assistance for borrowers should be focusedsolely on homeowners and any government assistance to the banking system should be based solelyon preventing systemic risk.
Any policy of financial assistance should be accompanied by reforms that promote greater transparency and accountability to ensure we never face this problem again.2
 
John McCain has proposed a new "HOME Plan" to provide robust, timely and targeted help to those hurtby the housing crisis. Under his HOME Plan, every deserving American family or homeowner will beafforded the opportunity to trade a burdensome mortgage for a manageable loan that reflects their home'smarket value.
Eligibility: Holders of a sub-prime mortgage taken after 2005 who live in their home (primaryresidence only); can prove creditworthiness at the time of the original loan; are either delinquent, inarrears on payments, facing a reset or otherwise demonstrate that they will be unable to continue tomeet their mortgage obligations; and can meet the terms of a new 30 year fixed-rate mortgage on theexisting home.
o
John McCain's HOME Plan Will Keep 200,000 To 400,000 Families From Losing Their Homes.
"But at the same time, McCain is calling for aggressive federal action to help keep200,000 to 400,000 families from losing their homes. That plan has many of the elements of aproposal by Rep. Barney Frank, D-Mass., and Sen. Chris Dodd, D-Conn., requiringparticipating lenders to forgive part of the loan principal and then write a new loan that wouldbe backed by the federal government through the Federal Housing Administration."
(Tom Raum,"Everyone's Invited: McCain Economic Plan Draws From Both Parties,"
Tucson Citizen,
4/17/08)
How It Works: Individuals pick up a form at any Post Office or download the form over the Internetand apply for a HOME loan. The FHA HOME Office certifies that the individual is qualified, andcontacts the individual's mortgage servicer. The mortgage servicer writes down and retires theexisting loan, which is replaced by an FHA guaranteed HOME loan from a lender.
John McCain will bolster groups like Neighborworks America that provide mortgage assistance tohomeowners in their communities.
Keeping The Credit Crunch From Hurting College Students
John McCain is proposing a student loan continuity plan. Students face the possibility that the creditcrunch will disrupt loans for the fall semester. John McCain calls on the federal government and the 50governors to anticipate loan problems and expand the lender-of-last resort capabilities for each state'sguarantee agency.3

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samdamanleft a comment

remember that the future tends to be like the past, just more futuristic.=-D

samdamanleft a comment

Nuclear problems aside (France does it, and Japan, why can't we? Hell, we can probably copy them like they do us, and do it better! We can chuck the waste in the sun instead of wasting time on mars.), John Mccains plan is incomplete, in my own limited opinion. While he does do all the old Republican tricks (small government, lower taxes, decrease government spending, expand oil, and, as previously mentioned, nuclear power) he couples them with some new ideas that have come to be viewed as the "better decision" for this day and age. He charismatically has his energy plan broken down into two halves- a whole area on how he wants more oil, and then another area on how he wants more clean technologies. There is a whole 2 paragraphs on how we must reform Medicare and Social Security, just to have it explained later as a massive blow to the medical industry, a total reform, in fact, that will end up costling billions, as we have anticipated, just to catch up with places like canada and sweden. He wants to create American jobs by lowering trade barriers overseas.....good luck with that, especially in Japan and China.I'm rooting for that idea, it's a good one. Unfortunately a strong dollar is going to obliterate our exports, and then China will tag their currency to ours again....do you see the cycle here? anyway, beyond what I percieve to be a backwards plan in helping the American worker, John McCain wants to lower taxes.....for everyone, and on everything. I'll get to what I think the effects will be in one moment, but first let me remind everyone of one of the ten commendments of economics: lower taxes = lower government revenue = lower goverment spending = ?. That question mark means that something else has to happen, but that it is variable on the economy. Anyway, what I think of lower taxes: I LOVE 'EM! hell, I don't wanna be taxed at all! Unfortunately, we must pay for our social system structure that we call the U.S. government, and it is an expensive mother of a thing. Further, I disagree with the theory that everyone has equal taxes, or even somewhat equal taxes. 4% of 1000 is a lot less than 4% of a million, but still is 4%. Conversely, bread costs a larger fraction of 1000 than a million, so why are taxes the only economic force that doesn't consistently take into account the greater disposable income of the top 10% of the tax bracket, specifically those corporations and wealthy individuals that waste it as blatantly as we get to see- multiple multi-million dollar homes, too many yachts, rockefeller's money still has his kids in politics, how long do you think Gates and that Enron guy's kids are set for, and then there's movie stars and sports legends. It's all waste! To sum up everything I have said I will apply a lesson from David Hume, a 17th century philosopher: causes are independent of their effects, although in our heads we associate them. While John McCain's plan is sound, effective, and excutable, it is not self-sustaining or able to stop what is causing these effects- a bad system, in need of total renewal, starting with all the rich people. They must learn to be poor again, take less, or the world will take it from them as it did all those people in 1929 and 1936. Credit, finance, construction, manufacturing, and unemployment are all hurting, but the worst can still come. Wait till it hits energy again, and then barrels into food production and government spending at the same time. Then we'll get to see some effects.

cganiereleft a comment

I give it a "C" It could be improved by the Cato Institute.

Eric M. Dennis, Sr.left a comment

John McCain's proposal on helping the American people i.e. single mom trying to keep her and her children in a home, and to afford housing, food, and gas is causing pain pain that effects her and her children and her country. John McCain's plan coupled with T. Boone Perkin's energy plan and implementation of ALL forms of energy production will save America from her enemies. Americans are the most resourceful people throughout history. Her people have freedom to be intuitive, solving any and all problems that face her (us). American ingenuity! Case in point: in four years we came together and mobilized ourselves rebuilding the Pacific Naval fleet, and then kicked a** in two (2) wars and won!!! Coming together and putting down man's greatest sin: pride and pride is the enemy to every one of us and keeps us from listening to each other, and causes us to stay apart. "Together we stand-divided we fall" We, as in many, and as a single nation can accomplish, virtually, anything. America and her people I love.

rosehipsleft a comment

Yeah John, let's build 45 new nuke plants and forget about all the reasons the nuke industry is a losing proposition. Cheap electricity? Remember when they told us nuclear power would be "too cheap to meter"? Maybe I missed something JOhn. Did you figure out what to do with all the waste?