Excerpts From McCain's Speech on the Economy

Excerpts From McCain's Speech on the Economy

Friday, September 19, 2008 1:56 PM

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(Below is the text from John McCain's speech Thursday in Wisconsin.)

Let me offer a little advance warning to the big-spending, greedy, do-nothing, me-first, country-second crowd in Washington and on Wall Street. Change is coming! Change is coming on November the 4th of 2008!

Now my friends, I've got to give you some straight talk. And I know you want it, and you deserve it. We need reform in Washington and on Wall Street. The financial markets are in crisis. Times are tough. I know that the events unfolding can be difficult to understand for many Americans. The dominoes that we have seen fall this week began with the corruption and manipulation of our home-loan system.

The reason this crisis started was the abuses that took place within our home-loan agencies, Fannie Mae and Freddie Mac. And within our home-loan systems two years ago, I warned this administration and Congress that regulations fixed for our home- loan agencies, Fannie Mae and Freddie Mac, needed to be fixed. They disregarded it or the special interests overcame it. But nothing was done.

Senator Obama talks a tough game on the financial markets, but the facts tell a different story. He took money from Fannie and Freddie more than any other senator but the Democratic chairman of the committee that regulates them. My friends, he put Fannie Mae's CEO, who helped create this disaster, in charge of finding his vice president.

While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sewing the seeds of the financial crisis we see today and enriching themselves with millions and millions and millions of dollars of payments. Remarkable! When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didn't lift a hand to avert this crisis. And that's not change! That's what's broken in Washington, my friends

I've taken on the special interests. I've taken on my own party. I've even, from time to time, taken on my own administration. Senator Obama has never made the kind of tough reform we need today. His idea of reform is what his party leaders in Congress order him to do. We tried for bipartisan ethics reform, and he walked away from it because his bosses didn't want real change. I know how to make that change that Senator Obama and this Congress is afraid of. I've fought both parties to shake up Washington, and I'm going to do it as president of the United States.

Those same congressional leaders who give Senator Obama his marching orders are now saying, believe it or not, that this mess isn't their fault, and they aren't going to take any action on this crisis until after the election. What? Senator Obama's own advisers are saying this crisis will benefit him politically. My friends, that's the kind of me-first-country-second politics that's broken in Washington, D.C.

My opponent sees an economic crisis as a political opportunity instead of a time to lead. Senator Obama isn't change; he's part of the problem with Washington!

While Senator Obama and the Democrat congressional leaders delay action on the current crisis, we know what their plans are for the economy. Today, just today, Senator Obama's running mate said that raising taxes is patriotic. Raising taxes in a tough economy isn't patriotic, it's not a badge of honor, it's just plain dumb! The billions in tax increases that Senator Obama is proposing would kill even more jobs during tough economic times. I'm not going to let that happen!

So my friends, let me give you a little more straight talk about this election. In 47 days, just 47 days, you'll make your choice. Your vote will determine the next president of this great country that we all love. And here in Wisconsin, it'll be the difference. A lot of you have these economic challenges on your mind, so let's start here.

A vote for me will guarantee immediate pro-growth action, tax cuts for America's hard-working families, strong support for small businesses which are the backbone of our recovery and our economy – and an end to the outrageous, disgraceful, obscene, pork-barrel spending in Washington, D.C. It's going to stop! I will veto!

This governor knows how to cut spending. She vetoed a half a billion dollars worth of pork-barrel projects. Senator Obama has sought nearly a $1 billion in pork-barrel spending, about $1 million for every single day he's been a member of the Senate. My friends, I'll veto every pork-barrel bill that comes across my desk. I'll make them famous, and you'll know their names. You'll know every one of them!

A vote for me will guarantee that the forces that have brought down our economy will be out of business. I will end the corrupt practices on Wall Street and back-room deals in Washington, D.C. I will hold accountable those responsible for the oversight and protection of consumers, taxpayers and homeowners. A vote for Senator Obama will leave this country at risk during one of the most severe challenges to America's economy since the Great Depression. And that's straight talk, my friends.

You see, when it comes to growing the economy and protecting you from the corruption of Wall Street and Washington, Senator Obama just doesn't get it. Americans have had enough of business as usual.

Americans have had enough of the cozy relationships between politicians and power brokers. The days of me first, country second will end on November 4th with me and with Governor Sarah Palin.

You see, we've already made the tough choices that make us unpopular in our own party from time to time. I was not elected Miss Congeniality again this year in the United States Senate. We'll never forget who we work for. We work for you! And that's how we see this election. Country first or Obama first?

So when it comes to cutting taxes for seniors, for working families, for small businesses, my opponent didn't put the hard-working people of this country first. When it came time to support our troops fighting to protect our freedoms and way of life, my opponent said he'd never deprive them of the funds they needed to fight, and then he did just that. Barack Obama voted against funding the equipment our troops rely on as they fight to protect us. That's not putting the men and women of our military first.

When it comes time to reach across the aisle and work with members of both parties to get things done for the American people, my opponent can't name a single occasion in which he fought against his party's leadership to get something done for this country. That's not putting the interests of the country first.

And now we're faced with an economic crisis. The country is looking for leadership. The country is hungry for change. They want a leader who will stand up to entrenched special interests in Washington and on Wall Street. They deserve a president who knows when to put politics aside and act in the best interests of our nation. And the choice is clear. And you have my word; I will always put my country first.

You know, my friends, you know, there's been a lot of negativity in this campaign. There have been a lot of attacks. And there have been a lot of things that have gone on that, frankly, sometimes make it difficult. And every once in a while, you have an experience that's very helpful to put into the right priority what this campaign is all about. And that just happened to me a few hours ago.

When Sarah and I landed at the airport here and a woman was there to greet us among some other women. And she handed me an envelope. And I thanked her. And then I got back on the bus, and I saw this envelope. And the envelope was from Cheryl Lee Patrick of Ladysmith, Wisconsin. And on the front of the envelope, it says, "To Senator John McCain. My son, Staff Sergeant Patrick Lee Lybert, KIA, June 21, 2006, Afghanistan." And then the note goes on to say, "please remember and support our troops in Afghanistan. God bless you, Cheryl Patrick."

And then I opened up the envelope, and there are the dog tags. So my friends, Cheryl Lee Patrick, our hearts, our thoughts and our prayers go out to her and all the families who have made such a great sacrifice. And I will do everything I can. And I know that I can make sure that his sacrifice was not in vain because I will always put my country first. Thank you and God bless you. And God bless America!

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