McCain on Larry King

JonoBN41 · #1 10-29-2008, 06:18 PM

From the transcript...

KING: The Federal Reserve just announced today, they're cutting Federal fund rate by a half a point, lowering it to one point. Any comment?

MCCAIN: Yes. I think it's probably necessary. I think it's necessary, and we need -- but could I finally say -- the most important thing is to get a floor on these housing -- on housing.

It was the housing crisis that got us into it. Go out, but these mortgages, give people a new mortgage at a payment level they can afford and reverse this alarming trend in decreasing value of homes. Let people realize the American Dream and stay in their homes. That's what we've got to do. And I'm very disappointed in the administration for not doing it. They had the FDIC recently was critical of the administration. Get those mortgages bought up, keep people in their homes.

McCain thinks the American Dream means buying a house? I was under the impression it's much more than just buying a house. No? Maybe I should Google it again.

UGAalum94 · #2 10-29-2008, 06:29 PM

Quote:

Originally Posted by JonoBN41

From the transcript...

KING: The Federal Reserve just announced today, they're cutting Federal fund rate by a half a point, lowering it to one point. Any comment?

MCCAIN: Yes. I think it's probably necessary. I think it's necessary, and we need -- but could I finally say -- the most important thing is to get a floor on these housing -- on housing.

It was the housing crisis that got us into it. Go out, but these mortgages, give people a new mortgage at a payment level they can afford and reverse this alarming trend in decreasing value of homes. Let people realize the American Dream and stay in their homes. That's what we've got to do. And I'm very disappointed in the administration for not doing it. They had the FDIC recently was critical of the administration. Get those mortgages bought up, keep people in their homes.

McCain thinks the American Dream means buying a house? I was under the impression it's much more than just buying a house. No? Maybe I should Google it again.

I think owning your own home is considered by many a component of the American Dream.

JonoBN41 · #3 10-29-2008, 06:34 PM

Don't people all over the world own their own homes? What's so American about that?

UGAalum94 · #4 10-29-2008, 06:48 PM

Quote:

Originally Posted by JonoBN41

Don't people all over the world own their own homes? What's so American about that?

The idea that you could prosper mainly based on your hard work and own your land and home rather than being restricted by the social class you were born into were, at one time if not still, reasons that immigrants were attracted to America.

I suspect that home ownership is higher in the US than most other areas of the world. Canada is probably comparable, but I don't think it is as globally common as you think.

ETA: charts based on census data for rates of US home ownership:http://www.danter.com/statistics/homeown.htm

International comparisions, but I can't speak for validity: http://www.taxpolicycenter.org/brief...p-increase.xls

I suspect that historically the opportunity in the US seemed greater than elsewhere. What do you suppose was the rate of home ownership in Ireland in the 1800's?

JonoBN41 · #5 10-29-2008, 07:08 PM

Did you look it up? It's right there on wikipedia.

Historian and writer James Truslow Adams coined the phrase "American Dream" in his 1931 book Epic of America:

"The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. It is a difficult dream for the European upper classes to interpret adequately, and too many of us ourselves have grown weary and mistrustful of it. It is not a dream of motor cars and high wages merely, but a dream of social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position."

It also says: "Although the phrase's meaning has evolved over the course of American history, for some people, it is the opportunity to achieve greater material prosperity than was possible in their countries of origin. For others it is the opportunity for their children to grow up and receive an education and its consequent career opportunities. It is the opportunity to make individual choices without the restrictions of class, caste, religion, race, or ethnic group."

McCain's father was an admiral and his uncle a brigadier general, and he owns - what's the latest count, seven houses, 11 houses? He's not sure. On the other hand, Obama pulled himself up by the bootstraps, went to Harvard, and is now a presidential candidate.

Seems to me Obama is actually living and realizing the American Dream, while McCain doesn't even understand what it is. Why should he? He never had to pursue it.

So I appreciate the transcript. I probably would have missed it otherwise.

UGAalum94 · #6 10-29-2008, 07:13 PM

Quote:

Originally Posted by JonoBN41

Did you look it up? It's right there on wikipedia.

Historian and writer James Truslow Adams coined the phrase "American Dream" in his 1931 book Epic of America:

"The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement. It is a difficult dream for the European upper classes to interpret adequately, and too many of us ourselves have grown weary and mistrustful of it. It is not a dream of motor cars and high wages merely, but a dream of social order in which each man and each woman shall be able to attain to the fullest stature of which they are innately capable, and be recognized by others for what they are, regardless of the fortuitous circumstances of birth or position."

It also says: "Although the phrase's meaning has evolved over the course of American history, for some people, it is the opportunity to achieve greater material prosperity than was possible in their countries of origin. For others it is the opportunity for their children to grow up and receive an education and its consequent career opportunities. It is the opportunity to make individual choices without the restrictions of class, caste, religion, race, or ethnic group."

McCain's father was an admiral and his uncle a brigadier general, and he owns - what's the latest count, seven houses, 11 houses? He's not sure. On the other hand, Obama pulled himself up by the bootstraps, went to Harvard, and is now a presidential candidate.

Seems to me Obama is actually living and realizing the American Dream, while McCain doesn't even understand what it is. Why should he? He never had to pursue it.

So I appreciate the transcript. I probably would have missed it otherwise.

I did look it up, but I also have a sense of what it is, and home ownership IS often considered a part of it, whether wikipedia mentions it or not.

Try googling American Dream Homeownship and see what you get.

What's your point about Obama? McCain shouldn't be permitted to mention the American Dream?

JonoBN41 · #7 10-29-2008, 07:28 PM

McCain should not be permitted to define the American Dream.

And why do you quote everything? It just wastes space.

ajuhdg · #8 10-30-2008, 01:14 PM

Quote:

Originally Posted by JonoBN41

Seems to me Obama is actually living and realizing the American Dream, while McCain doesn't even understand what it is. Why should he? He never had to pursue it.

I'm sorry, did I read that right? You might not think that he 'pursued' it, but he sure as hell has defended it. Everyone's view of the 'american dream' is different. I bet everyone on here has a differnt definition of what the American Dream is. Don't be so naive to think that just because someone married money he is less American.

As far as BO, he is no product of his own making. He has been molded and craddled by some powerful forces. What exactly has he done to BETTER this country?