(AFP) – Mar 25, 2008
LOS ANGELES (AFP) — Republican presidential candidate John McCain Tuesday laid out his credentials for managing the economy, an area Democrats hope to expose as a weakness in November's general election.
McCain said he would examine every potential solution to the mortgage crisis which is threatening to spill over into a recession -- but would stop short of calling for immediate government intervention.
"I will not play election year politics with the housing crisis," McCain was to say according to an advance copy of his remarks to Hispanic business leaders in California.
"I will evaluate everything in terms of whether it might be harmful or helpful to our effort to deal with the crisis we face now," the Arizona senator was to say.
Among his prescriptions for recovery, McCain is recommending potential homeowners put up larger deposits for property, and would limit government bailouts to attempts to stop the mortgage crisis damaging the wider economy.
"Any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren't," McCain was to say.
But he also appeared to attempt to separate himself from President George W. Bush, who has been accused by Democrats of obstinately refusing to intervene to rescue the stuttering economy.
"In this crisis, as in all I may face in the future, I will not allow dogma to override common sense," the prepared remarks said.
McCain spoke a day after Democratic presidential candidate Hillary Clinton made her latest intervention on the economy, an issue aides believe could bolster her hold on blue-collar voters in Pennsylvania, which holds the next primary nominating contest on April 22.
Eyeing a potential match-up in November's presidential election, Clinton and Democratic rival Barack Obama have both been hammering McCain over his economic record.
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