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Top McCain Econ Adviser: “We have sort of become a nation of whiners…”
Crooks and Liars —
In an interview with the Washington Times, top McCain economic adviser Phil Gramm (yes, that Phil Gramm) has some comforting words for the millions of Americans struggling to pay their bills.
Washington Times:
“You’ve heard of mental depression; this is a mental recession,” he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. “We may have a recession; we haven’t had one yet.”
“We have ...
Obama to McCain: ‘America already has one Dr. Phil’
Political Animal —
You can’t give Barack Obama a slow, hanging curve, right over the middle of the plate, and expect him not to swing.
“One of his top economic advisors, former Sen. Phil Gramm, said that we’re merely in a ‘mental recession.’ That’s what he said,” Obama said, smiling. “Said we’re in a ‘mental recession.’ He didn’t say this, but I guess what he meant was it’s a figment of your imagination, these high gas prices….
“Sen. Gramm then deemed the United States, and I quote, a ‘nation of whiners.’ Whoa. ...
Late Afternoon/Early Evening Open Thread
Daily Kos —
Obama on Phil Gramm: "America already has one Dr. Phil." Yeah, yeah, yeah ... it's in a half a dozen diaries already. But it's such a great line, it should open up an open thread.
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Gramm, McCain and Obama
Chicago Boyz —
Phil Gramm spoke the truth. The economy is in a slow period, but the recession that many of us (including me) anticipated has not happened. IOW, despite significant structural problems in the economy (housing meltdown, inflation, oil prices, weak dollar and other policy mistakes), the economy is holding up. This is good news.
There is a disconnect between the real economy, which is doing OK, and the media picture of an economy about to fall into steep recession if not depression. It’s obvious what’s going on. First, the media industry is consolidating: old media businesses are failing, their employees either being laid off or worried about ...
It's the rebuttal, stupid
The Reaction —
By Creature This is why Barack Obama will prove to be a winning candidate. Update: And, while we're on the Gramm subject let's remember he's personally responsible for economic mess that he says we are all whining about. John McCain may not know much about the economy, but it seems his top advisor knows even less. (Cross-posted at State of the Day.)
Carol Platt Liebau: Who's Calling 'Em "Whiners" Now?
Townhall.com Blog's TownHall Blog —
Kathleen Parker's column discussing her plane ride and discussion with President Obama includes the following interesting insight into the President's thinking about the economy: Things are not as bad now as they were in the 1930s or even the early '80s when, Obama reminded us, he was still in college. Young people . . . are simply unfamiliar with hardship, he said. "So for a huge number of people out there, they're just not accustomed to seeing a bad economy with really high unemployment and very bearish markets. . . . What we're going through now is nothing compared to what our grandparents went through during the Great Depression." It's interesting. As this clip shows, ...
