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John McCain's Health Care Plan Based on Same Policies That Are Causing Wall Street Meltdown
Date:9/22/2008

WASHINGTON, Sept. 22 /PRNewswire-USNewswire/ -- Every day, another financial institution shutters its doors. Over 600,000 thousand U.S. jobs have been lost so far this year. Gas, food, and health care prices are through the roof. The writing is on the wall: the American economy is teetering on the edge of collapse, and American families are paying the price.

But despite the mounting evidence that deregulation has been a major contributing factor in the current financial crisis, John McCain wants to implement the same, failed Bush-McCain economic policies on our health care system.

On Sunday, the Washington Post (http://www.washingtonpost.com/wp-dyn/content/article/2008/09/20/AR20080920 01746.html?hpid=topnews) reported that in a recent article he authored in Contingencies Magazine (http://www.contingencies.org/septoct08/mccain.pdf), John McCain wrote that "Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

"You would think that the 'going out of business sales' on Wall Street would demonstrate what can happen when there is no watchdog keeping an eye on big business," said Andy Stern. "Now, John McCain wants our health care system run the same way. Aren't families struggling enough?

"I guess it should come as no surprise that someone who supported George Bush 90 percent of the time and has insiders and lobbyists running his campaign thinks our banking system should be considered a model for success."

In a statement released last Friday, Andy Stern pointed out that the worst is still to come as the financial meltdown hits kitchen tables - and that John McCain's
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SOURCE Service Employees International Union
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