McCain + The Economy = Disaster

Economy is not John McCain’s strong suit. Don’t take my word for it…take his.

“The issue of economics is not something I’ve understood as well as I should.1

“I know a lot less about economics than I do about military or foreign policy issues.2

“I don’t know how bad it [the mortgage crisis] is gonna get, and obviously the worse it gets then the more there is a role for government. But I can’t come down yet and give you a specific solution because I don’t claim to be smart enough….I’d love to give you a solution, but I don’t know.3

“I don’t believe we’re headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong.4

“I am not an expert on Wall Street, I am not an expert on some of this stuff.5

In an interview on Fox News on April 6, 2008 Chris Wallace asked McCain the following question: “What would you do to help the thousands of Americans who right now are in the process of losing their homes? Or do you feel, as you said in your speech, that’s not the duty of government?”

McCain replied, “Look, Americans are hurting right now. They don’t know if they have to get another job. The challenges are enormous right now. The key to it is not to bail out people who speculated or people who engaged in unsavory practices. The key to it is get the lender and the borrower together. We know how hard that is because of identifying the lender, but there’s ways to do it. Of course there’s a role for government, but it’s not to reward greedy speculators. It is not to reward people who misbehave. And it certainly isn’t a huge expenditure of taxpayers’ dollars which, in the long run, could exacerbate the problems that exist.6

When asked if Americans are better off now (in the beginning of 2008) than they were eight years ago, McCain replied as follows:7

“You could argue that Americans overall are better off, because we have had a pretty good prosperous time, with low unemployment and low inflation and a lot of good things have happened. A lot of jobs have been created. But let’s have some straight talk. Things are tough right now. Americans are uncertain about this housing crisis. Americans are uncertain about the economy, as we see the stock market bounce up and down. But I think what we’re trying to do to fix this economy is important. We’ve got to address the subprime housing problem. We need to make the Bush tax cuts permanent, which I voted for twice to do so. I think we need to eliminate the alternate minimum tax…I think we are better off overall if you look at the entire eight-year period, when you look at the millions of jobs that have been created, the improvement in the economy, etc.”

At least he recognized and expressed some economic concerns coming into this year. Maybe he is an optimist? I have my doubts based on the campaign he has been running thus far and his voting record but we will give him the benefit of the doubt until we do a little more research.

Even on the same day we saw a 500 point drop in the market, McCain insisted the fundamentals of our economy were strong. See previous post: McCain not economically fit to be President. I digress, I will address, in detail, the fundamental difference in what is fundamental to the average citizen, how that differs from what is fundamental to John McCain and how his policies clearly demonstrate this, in another post.

I could continue to cite quotes made by John McCain indicating his own inexperience and ignorance with regards to the economy but I will allow you to do some research yourself. Here is an informative link to begin.

Economy is the biggest concern right now.

It is irresponsible and foolish to assume all information presented in commercials is true, even the approved commercials. It is irresponsible to blindly take anyone’s word on it, even mine! This is why I try to provide links, sources, etc. I realize you are tired. I know you are busy. But it is our responsibility as citizens to be informed. Do not take commercials at face value, especially commercials endorsed by either party or anyone else for that matter. I beg you to research the information presented for yourself. This is exactly what I’ve done with this entire election. I have researched the candidates, the issues and even the economy.

I went to McCain’s website and read his economic plan, though much to my dismay it was written in doublespeak.8 Luckily, I am a diligent researcher who can and will dig through the hyperbole and fluff to find out what he is really saying.

I will save this discussion for another post.

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  4. West Palm Beach Town Hall, 1/24/08; “Face the Nation,” 2/3/08; Town Hall at Dell in Texas, 2/29/08; “60 Minutes,” 3/9/08, GOP Debate, Myrtle Beach, S.C., 1/10/08 []
  5. McCain Town Hall, Concord, NH, 12/17/07 []
  6.,2933,347033,00.html []
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