Of course he will.
Because after this awful week (Rick Davis’ lobbying ties, Sarah Palin’s horrible interview, impending bailout implosion), he’s going to need something to boost his ratings.
Sen. John McCain (R-Ariz.) announces: “The McCain campaign is resuming all activities and the senator will travel to the debate this afternoon. Following the debate, he will return to Washington to ensure that all voices and interests are represented in the final agreement, especially those of taxpayers and homeowners.
However, listen to this fiction the McCain camp is trying to push about his role in the bailout proposal…
The difference between Barack Obama and John McCain was apparent during the White House meeting yesterday, where Barack Obamaâ€™s priority was political posturing in his opening monologue defending the package as it stands. John McCain listened to all sides so he could help focus the debate on finding a bipartisan resolution that is in the interest of taxpayers and homeowners. The Democratic interests stood together in opposition to an agreement that would accommodate additional taxpayer protections.
If you’ve been following this story at all, you’ll know that there was a bi-partisan agreement on the table which took Paulson’s plan and added a lot of meat to it, but House Republicans put forth 2 different plans. One pushed a nonsensical moratorium on the capital gains tax for 2 years to drive more investment and the other proposed by Eric Cantor involved a new scheme where mortgage backed securities would be insured rather than bought. Problem is, the taxpayers already insure trillions in mortgages already, so earning premiums from these doesn’t really address the liquidity issues facing our banking institutions.
Still, the Cantor plan seems to be the one McCain is backing, but since he hasn’t taken any sort of public stance on ANY plan, we just don’t know. But if it is the Cantor plan, again, it’s only backed by 100 House Republicans. Hardly a bi-partisan solution.
In any event, tonight should be interesting.