Friday, September 26, 2008

Dick Morris: THE BRILLIANCE OF MCCAIN'S MOVE

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From: Dick Morris Reports [mailto:subscribers@dickmorris.com]
Sent: Friday, September 26, 2008 9:13 AM
To: Limburg, Garth
Subject: THE BRILLIANCE OF MCCAIN'S MOVE

THE BRILLIANCE OF MCCAIN'S MOVE

By DICK MORRIS & EILEEN MCGANN


Published on DickMorris.com
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>  on September 26, 2008

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McCain has transformed a minority in both houses of Congress and a
losing position in the polls into the key role in the bailout package,
the main man around whom the final package will take shape.  He arrived
in Washington to find the Democrats working with the Bush Administration
to pass an unpopular $700 billion bailout.  The Democrats had already
cut their deal with Bush.  The Dems agreed to the price tag while Bush
agreed to special aid to families facing foreclosure, equity for the
taxpayers, and limits on executive compensation.  But no sooner had
McCain arrived than he derailed the deal.


Citizens United Productions Presents HYPE: The Obama Effect!
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Knowing how unpopular the bailout is with the American people, the
Democrats are not about to pass anything without broad Republican
support even though their majorities permit them to act alone.  Instead
of signing on with the Democratic/Bush package, the House Republicans
are insisting on replacing the purchase of corporate debt with loans to
companies and insurance paid for by the companies, not by the taxpayers.
That, of course, is a popular position.  McCain would be comfortable to
debate this issue division all day.  And, if the Dems don't cave into
the Republican position, that's probably exactly what he'll do on Friday
night's scheduled debate in Mississippi.


But the Democrats are not about to be stubborn.  They know their package
is a lemon and need the political cover of Republican support.  So the
Republicans can write their own ticket...and they will.  John McCain
will be at the center of the emerging compromise while Obama is out on
the campaign trail kissing babies.  If the deal is cut before Friday's
debate, my bet is that McCain shows up in triumph.  If it isn't, he
shows up anyway and flagellates Obama over the differences between the
Democratic package and McCain's.

By Monday, at the latest, the Democrats have to cave in and pass the
Republican version.  They don't dare pass their own without GOP support,
so they will have to cave in to the Republican version.

Then McCain comes out of the process as the hero who made it happen when
the president couldn't and Obama wouldn't.  He becomes the bailout
expert.

And, of course, the bailout will work.  With the feds standing behind
the bad debt, whether by purchase or loans and insurance, Wall Street
will breathe a sigh of relief.  Bears won't dare bet against the economy
with the entire weight of the federal government on the other side.
They may be bears but they are not rabid.

Finally, McCain, as the reigning expert on bailouts, then can take the
tax issue to Obama, saying that a tax increase, such as the Democrat is
pushing, would destroy the bailout, ruin the economy, and trigger a
collapse.

This bold move by McCain is about to work.  Big time.

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>  to read all of Dick's columns!

Citizens United Productions Presents HYPE: The Obama Effect!
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WNrbW9ycmlzLmNvbS9ibG9nL2h5cGUtdGhlLW9iYW1hLWVmZmVjdC8%3d&x=f3690637
>

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