Senator John McCain is about to vote against allocating an additional $2 billion to the "Cash for Clunkers" program and against $350 million in assistance to America's dairy farmers. McCain says that this type of federal financial assistance is "not the American way".
Well, the Cash for Clunkers program is helping to save the US auto industry, preserving and creating jobs in that industry, and replacing cars on the road which were averaging 10 miles per gallon with new cars averaging 26 miles per gallon, thus helping to reduce our dependence on Middle East oil. The farm assistance program is helping to rescue and preserve America's family-owned dairy farms.
These are key parts of Obama's Stimulus and Recovery programs which already have the stock market up 30% off its lows (when it was truly down in the Bushes), with new housing starts increasing and new claims for unemployment insurance falling.
We still have a long way to go. Nobody is claiming that we have "reached the top". But Obama's programs are working, this country is recovering -- and very quickly, indeed.
Had McCain been in the White House today -- continuing the failed Conservative policies which created this mess -- he might have extended this year's economic crisis into an economic disaster lasting as long as the Great Depression of the 1930's. Now that he is out of power, the best McCain can do is to join his fellow Conservatives in voting against the vital measures that are speeding our nation's recovery.
McCain showed during the 2008 election campaign that he is no economic expert, and he admitted it. Now, he is proving it.