Notes while reading McCain’s economic proposal
The plan is titled “Jobs for America” and yet only in a few places (in the new energy initiatives sections) does it mention anything about job creation. American companies need to create jobs. Government jobs as an entitlement program is not a particularly compelling answer and is not consistent with the GOP’s goals anyway.
Much of the first four pages are about gimmicky things promised in vague terms. “Immediate Relief”, “low taxes”, etc. Stuff that hasn’t worked for Bush.
The HOME plan is about mortgage refinancing and it essentially is a bailout for bad borrowers - not a market-efficient solution, but certainly one that makes failure-prone voters comfortable. (For now, until they miss more payments) Also: there were, and continue to be, sensible mortgage programs and offers. The problem is that housing is overpriced and the only way to fix that is to let the economy sort that out on its own; McCain has no solution to this, as anything to “fix” home prices downward would make his voting base very uncomfortable!
Through the first few items I gave him some credit for promising things that were totally ridiculous but would be marginally effective, and to anyone who would vote for him and not understand those policies, well, fuck them anyway. That’s not McCain’s fault. Those are his voters to lose. So, cut the gas tax in the summers and make people believe they’re better off for it, you grand old magician.
The one-year discretionary spending freeze is the most unrealistic politically-based economic proposal I’ve ever heard.
Bi-partisan Fiscal Discipline:
- Of course.
- 2.4 percent spending growth. (Related projections: Inflation? Collected Taxes & Revenues?)
- Comprehensive review of government: again, of course.
- Large(st) part of this depends on Congress.
- End subsidies to high-income individuals and corporations. Counter: the current administration, from the same party, has conflicting priorities and actions.
Eliminate Wasteful Spending
- Of course.
- “John McCain will veto every pork-laden spending bill and make their authors famous.” Politically stupid and bullying.
- “Earmarks restrict
America ’s ability to address genuine national priorities and interfere with fair, competitive markets.” Only when abused. - “Eliminate broken government programs.” “Reform Civil Service” “Reform procurement programs” Expected Republican strategies.
Reforming Entitlement Programs For The 21st Century
- Very much needed. Needs a ton of political support; current solutions are unpopular or insensible (or both!).
- “John McCain will not leave office without fixing the problems that threatens our future prosperity and power.” O RLY? You’ve got 4 years, 8 if you’re lucky! Big mouth.
- “he believes that we may meet our obligations to the retirees of today and the future without raising taxes.” Needs more backing up.
- Personal accounts – again, needs backing up for strategy/logic.
- “reduce the growth in Medicare spending, improve the quality of care” again, political magic if you can get this done. What’s got to give here? This only works if the cost of care decreases. How would one go about that?
SUPPORTING SMALL BUSINESSES
Most suggestions are not in the GOP’s wheelhouse – the most sensible ideas require more entitlement programs. The tax-cutting ideas are insensible (add loopholes, benefit the rich mostly) and inconsistent with balanced federal budget goals. Goal of reforming trade rules needs actual detail. How does free trade help Americans if “leveling the playing field” means that we’re expected to compete with third-world salaries and inhumane working conditions? Free trade, in the short term, puts the
CHEAP, CLEAN, SECURE ENERGY FOR
Drill reserves (environmental issues), add economic reforms to control energy markets (restricting open markets), nuclear power (solution that becomes effective long after McCain’s term, death – I mean, shit, I’ll be old when those plants come online!), clean coal (we’ll see; relies on not-yet-invented tech, needs more proof), renewables (yes, good)
Transforming transportation – technology contests, Flex Fuel, tougher standards. This only addresses passenger cars! Doesn’t reduce wasteful usage, does not provide goals/numbers or timeframes.
Building Efficiency – government “applying a higher standard” (vague), energy efficient home fixtures/furnishings/appliances (this is good)
HEALTH CARE REFORMS:
BETTER CARE, AT LOWER COST, FOR EVERY AMERICAN
Big promises! “look into” cheaper drugs, “prevention” for “chronic disease” (already implemented), “coordinated care” (big government! Bad GOP!), “Government should promote greater access through walk-in clinics in retail outlets” (needless spending. Plenty of existing clinics), “rapid deployment of 21st century information systems and technology” (this is NOT a problem in the
Health care costs: “reform”, “use competition”, allow families to “purchase health insurance”. Details please. Health insurance is available, just hardly affordable.
Tax credits for health care costs… bullshit. Tax people what they should be taxed, let them spend money how they choose, and charge them a fair price for care and insurance. Don’t complicate things through new paperwork and agencies. Most individuals will either fuck this up or not be eligible for credit through some bullshit loopholes. (Or by means of not being sick!)
Portable insurance – no details. Sounds like a good idea! Who’s paying for it?
TAXES: SIMPLER, FAIR, PRO-GROWTH AND COMPETITIVE
Repeat about pro-growth tax ideas (covered above in the small business section.
Ban internet taxes (they already are.)
Ban new cell phone taxes (or, keep the status quo! How is this a creditable idea for “change”?)
TRADE
Repetition about pro-growth policies and free trade encouragement. Overhaul UI (which, no one should be on in the first place! Entitlement program!) Better education (probably needs more spending, since that’s always the first thing you cut! Inconsistent with prior budget talk). And that’s all he’s got on this.
Another thing about reading the McCain plan: so, he says he’s going to look into a bunch of things that are pretty much already done or in practice, and therefore taking credit for work that precedes him. It makes up nearly half the list. I’m disappointed that 70% of the country knows nothing about any of this and is going to think McCain is a visionary if they see him speak or write about any of this. I do think McCain deserves some marginal credit for backing good ideas. But take away the good ideas that are already in place, and he has few good ideas for change.