Tuesday, October 28, 2008

McCain's Economic Plan

Below is portions of a McCain press release of Senator John McCain's remarks that he made in Hershey, PA this morning.

I have a plan to hold the line on taxes and cut them to make America more competitive and create jobs here at home. We're going to double the child deduction for working families. We will cut the capital gains tax. And we will cut business taxes to help create jobs, and keep American businesses in America. Raising taxes makes a bad economy much worse. Keeping taxes low creates jobs, keeps money in your hands and strengthens our economy.

I will freeze government spending on all but the most important programs like defense, veterans care, Social Security and health care until we scrub every single government program and get rid of the ones that aren't working for the American people. And I will veto every single pork barrel bill Congresses passes.

I'm not going to spend $750 billion dollars of your money just bailing out the Wall Street bankers and brokers who got us into this mess. I'm going to make sure we take care of the working people who were devastated by the excesses of Wall Street and Washington. I have a plan to fix our housing market, so that your home value doesn't go down when your neighbor defaults, and so that people in danger of defaulting have a path to pay off their loan.

If I'm elected President, we're going to stop spending $700 billion to buy oil from countries that don't like us very much. Senator Obama will argue to delay drilling for more oil and gas and against building new nuclear power plants in America. If I am president, we will start new drilling now. We will invest in all energy alternatives -- nuclear, wind, solar, and tide. We will encourage the manufacture of hybrid, flex fuel and electric automobiles. We will invest in clean coal technology. We will lower the cost of energy within months, and we will create millions of new jobs.

My opponent's massive new tax increase is exactly the wrong approach in an economic slowdown. The answer to a slowing economy is not higher taxes, but that is exactly what is going to happen when the Democrats have total control of Washington. We can't let that happen. We need pro-growth and pro-jobs economic policies, not pro-government spending programs paid for with higher taxes.

This is the fundamental difference between Senator Obama and me. We both disagree with President Bush on economic policy. The difference is that he thinks taxes have been too low, and I think that spending has been too high.

If we are going to change Washington, we need a President who has actually fought for change and made it happen. The next President won't have time to get used to the office. We face many challenges here at home, and many enemies abroad in this dangerous world.

I know you're worried. America is a great country, but we are at a moment of national crisis that will determine our future.

Will we continue to lead the world's economies or will we be overtaken? Will the world become safer or more dangerous? Will our military remain the strongest in the world? Will our children and grandchildren's future be brighter than ours?

My answer to you is yes. Yes, we will lead. Yes, we will prosper. Yes, we will be safer. Yes, we will pass on to our children a stronger, better country. But we must be prepared to act swiftly, boldly, with courage and wisdom.

I'm an American. And I choose to fight. Don't give up hope. Be strong. Have courage. And fight. Fight for a new direction for our country. Fight for what's right for America.

Fight to clean up the mess of corruption, infighting and selfishness in Washington.

Fight to get our economy out of the ditch and back in the lead.

Fight for the ideals and character of a free people.

Fight for our children's future.

Fight for justice and opportunity for all.

Stand up to defend our country from its enemies.

Stand up, stand up, stand up and fight. America is worth fighting for. Nothing is inevitable here. We never give up. We never quit. We never hide from history. We make history.

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