"The situation is now so bad that Republican presidential candidate, John McCain, tried to move to the left of the Democrat, Barack Obama, during Tuesday night’s debate by proposing that he would 'order the secretary of the treasury to immediately buy up the bad home loan mortgages in America…' McCain didn’t explain where this authority would come from. But this proposal, which is estimated to cost $300 billion, followed his statement that 'We obviously have to stop this spending spree that’s going on in Washington.'

"On top of this monumental gaffe, in a tragic but humorous example of Washington doublespeak, the McCain campaign issued a statement calling this socialist proposal the 'American Homeownership Resurgence Plan.'”