Douglas Holtz-Eakin, a senior policy adviser to McCain’s failed campaign, said Nov. 19 that McCain’s support for the $700 billion bailout of the financial sector was the “key strategic policy error of the entire campaign.”
“We also make mistakes,” Holtz-Eakin told a group of conservatives at The Heritage Foundation in Washington, D.C. “There’s no doubt about it–20/20 hindsight. I think the key strategic policy error of the entire campaign, that is mine, is believing that the bailout bill would help.”
Both McCain and President-elect Barack Obama voted for the bill, which has taken on a different role since being promoted as a measure that would have given the Secretary of the Treasury the authority to purchase the troubled assets thought to be behind the current financial crisis.
Holtz-Eakin said it was a move of desperation because the campaign was taking a lot of criticism for not being more proactive at the time. . . .
“That was the key strategic error that we really made,” Holtz-Eakin added. “Had we stayed away from Washington, stayed away from being identified with that bill – which was ultimately against the John McCain brand– that’s not a bill he normally would support– we would have been better served in the long run, I believe. But, that financial market meltdown combined with bad strategic decisions, I think, was a real crippling combination of events.”
Told you so. Where do Republicans find these “senior policy advisers” who give such disastrous advice? Is there some Institute for Expert Ineptitude where GOP candidates hire people to tell them to do the wrong things for the wrong reasons?