McCAIN SAYS NO TO NEW TAXES - AT 10:33 A.M. ET:  John McCain is throwing down the gauntlet on new taxes:

WASHINGTON (AP) -- Sen. John McCain is refusing to consider raising taxes to reduce the ballooning deficit.

McCain was asked on ABC's ''This Week'' whether he would make a similar pledge as Treasury Secretary Timothy Geithner to do whatever it takes to bring down the deficit over the long run, such as raising taxes.

COMMENT:  The question is whether the GOP will stick to its guns on this.  The Dems, especially the leftward contingent, can't wait to raise taxes to pay for its spending spree.  Republicans must resist on principle and demand budget cuts, with no program sacred.

And please be alert to increases in hidden or quiet taxes, such as taxes on businesses, which get passed on to consumers in the form of higher prices, but aren't labeled as taxes on the individual.

August 23, 2009