McCain caves in

To date I have been impressed with John McCain. He has been consistently conservative on all the big issues, but yesterday he veered from the straight and narrow path. So much for straight talk, at least on this issue:

John McCain called for an aggressive federal government role aimed at stabilizing the housing market, rejecting a largely hands-off approach he outlined two weeks ago.

The likely Republican presidential nominee's prescription included a heavy dose of policy more typically associated with Democrats, as he sought to show voters he understands their economic pain. Most significantly, he urged the federal government to guarantee new mortgages for homeowners at risk of foreclosure.

The plan "offers every deserving American family or homeowner the opportunity to trade a burdensome mortgage for a manageable loan," he told New York-area small-business owners Thursday.

The plan's price tag is estimated at anywhere between $3 billion and $10 billion.

Ugh...$10 billion in government spending -- especially spending that encourages risky behavior -- is not what the doctor ordered to treat an ailing economy. McCain was right when he first talked about this issue. The economy is correcting itself. There must be some pain before the ship can be righted. Clearly, John McCain's political advisers got to him, and that, frankly, is lame.

Memo to McCain's political team: let McCain be McCain. His gut reaction was right. The nansy pamby politicos who are scared of their shadow are wrong.