Obama's economic proposals won't help Democrats, McCain says

Obama's economic proposals won't help Democrats, McCain says

Republican Senator John McCain said he's "doubtful" new economic proposals President Barack Obama plans to roll out this week will help Democrats in the congressional elections.

"They are just flailing around," McCain, of Arizona, said on the "Fox News Sunday" program. "If we had done this kind of thing nearly a couple of years ago, we'd be in a lot better shape."

Obama this week will urge Congress to permanently extend a research and development tax credit to encourage job growth. He will lay out the proposal, which would cost about $100 billion over the next decade, in a Sept. 8 speech on the economy in Cleveland, according to two administration officials speaking on condition of anonymity before the announcement.

McCain said the administration's economic policies have failed and predicted Republicans would "do very well" in the November elections to determine control of Congress.

McCain, his party's 2008 presidential nominee, said Republicans need to develop a list of proposals that includes a balanced budget amendment to the Constitution and repealing and replacing the Democrats' new health care law.