McCainonomics 101

Sen. John McCain gave a preview of his view of economics when he talked about how his running mate sold the Alaska governor's jet on eBay.

"She took the luxury jet bought by her predecessor and sold it on eBay," McCain said. "And made a profit."

Except Alaska sold it for $2.1 million after buying it for $2.7 million. To most people that would be a loss, buying high and selling low. But for McCain that was a profit! Apparently that may be his secret plan for balancing the budget, treating deficits as surpluses.

There was another problem with the story, the jet WASN'T sold on eBay, state officials said they sold it through a broker.

No Thanks MEANS No Thanks!

One of the biggest applause lines Gov. Sarah Palin makes is the claim that she "told Congress thanks, but no thanks on that Bridge to Nowhere. If our state wanted a bridge, I said, we'd build it ourselves."

But that line appears to be false and apparently Gov. Palin didn't say "no thanks" to the money Congress gave Alaska, just spending the funds on other projects. Since she didn't really say "no thanks" to the money, the public should demand she live up to her word and give back the money. Afterall, no thanks MEANS no thanks, not just no thanks - but I'll take the money anyway!

Will voters contact Gov. Palin and tell her to give back the money? Or contact their Representative or Senators? Perhaps the House or Senate Transportation Committees could hold hearings on where the money went when she said "no thanks." As member of the Senate Committee I'm sure Sen. John McCain would be supportive of his colleagues looking for this money.

What is the Bridge to Nowhere? In 2005 Congress approved a $223 million earmark for the bridge from Ketchikan to Gravina Island, home to only a few people. However, the bridge was criticized by many people, including Sen. McCain, as an example of wasteful federal spending on politicians' pet projects.

Yet despite all the complaints, in 2005 (a year before Palin was elected Governor) Congress approved Alaska the money for that bridge and another bridge, only eliminating a requirement that $442 million be spent to build the bridges. The change did not save the government any money. Instead, the $442 million was turned over to Alaska with no strings attached, allowing lawmakers and the governor there to spend it on any transportation projects, including the bridges.

In September 2007, long after Congress approved the money for Alaska, Gov. Palin finally gave up on the bridge, saying "Despite the work of our congressional delegation, we are about $329 million short of full funding for the bridge project, and it’s clear that Congress has little interest in spending any more money on a bridge between Ketchikan and Gravina Island."

Gov. Palin blamed the bridges demise on Americans, saying “much of the public’s attitude toward Alaska bridges is based on inaccurate portrayals of the projects here."

So you and I are at fault for not allowing her to build the bridge no nowhere, however I doubt It's Your Fault is not much of an applause line.