And I think that this problem has become so severe, as you know, that we're going to have to do something about home values. You know that home values of retirees continues to decline and people are no longer able to afford their mortgage payments.
As president of the United States, Alan, I would order the secretary of the treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes -- at the diminished value of those homes and let people be able to make those -- be able to make those payments and stay in their homes.
Is it expensive? Yes. But we all know, my friends, until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy.
First of all - Welcome to the Democratic Party Senator McCain. You know, the party that makes all sorts of pledges of ideas that sound good to some people but are really bad ideas? How is "renegotiating at the new value of those homes" going to "do something about home values" other than lower them? Or is that what you meant? Then why did you say "stabilize home values"?
This is exactly what I'd expect from a Democrat. You're promising lower payments and stable home values. Add to that a big government expenditure. It doesn't add up and I am speaking as one who owes more on his house than what its worth. Yeah, part of my brain likes what you said but I'm no hypocrite.
So here's what I would do. If you've got health care already, and probably the majority of you do, then you can keep your plan if you are satisfied with it. You can keep your choice of doctor. We're going to work with your employer to lower the cost of your premiums by up to $2,500 a year.
If you don't have health insurance, you're going to be able to buy the same kind of insurance that Sen. McCain and I enjoy as federal employees. Because there's a huge pool, we can drop the costs. And nobody will be excluded for pre-existing conditions, which is a huge problem.
So what's to prevent an employer from offering the worst health care out there to basically force all employees to go for option B and then not have to worry about dealing with employee health care? After all, the employer is offering health care so he or she can't be fined, right? Raise your hand if you'd like Senator-level health care. Mine's up. I guess we'll have to stick the doctor bills to GE, Microsoft, and of course, Exxon/Mobil.
And one of the things I want to do is make sure that we're providing incentives so that you can buy a fuel efficient car that's made right here in the United States of America, not in Japan or South Korea.
In case you didn't know Senator, fewer and fewer cars are being built in America and one of the reasons why is that American car companies are taxed much higher than those in Japan, South Korea, Germany, and China. And you want to raise them higher, right? This is spoken like a true Democrat. Say what we want to hear even though your policies contradict the result you promise.
McCain was less than brilliant in this debate but he won it, nevertheless.