Half-Baked

Politico reports that John McCain's new housing plan is confusing economists and analysts on both sides of the political spectrum.

The few details available about McCain’s American Homeownership Resurgence Plan gives the impression the plan is “half-baked,” according to Larry Sabato, director of the University of Virginia’s Center for Politics.

“If you’re launching a major new initiative, usually you blitz the cable networks and really try to penetrate the public consciousness. I didn’t see that today,” he said Wednesday.

“It would really frighten me if he actually thought this was good policy,” said Dan Mitchell, a senior fellow at the libertarian Cato Institute. “I assume that it’s nothing but a desperation ploy,” to show they are doing something “big and bold,” he said.

“It seems hastily put together … given the lack of detail, specificity, and overlap with existing programs,” added a Republican financial services lobbyist. (emphasis added)