Take That, IRS

Lest anyone ever call into question CAP’s non-partisan bona fides:

Republican presidential candidate John McCain announced Tuesday he would order the federal government to spend $300 billion in federal funds to buy up bad home mortgages and allow financially troubled homeowners to keep their houses. […] Under the plan, the government would buy failing mortgages from homeowners and provide new fixed-rate mortgages. As a policy matter, the plan would likely have greater support among Democrats than Republicans. Economists with the liberal Center for American Progress have been pushing a similar idea for some time.


Here’s the CAP plan. All joking aside, it’s genuinely true that a progressive policy operation is always hoping some Republicans somewhere will cotton to some of our ideas. It’s genuinely difficult to achieve anything legislatively in the United States without some bipartisanship. Obama has made some similar noises in the past. Hopefully McCain’s embrace of this idea means something like it can actually get done.