John McCain

McCain Claims Never Said He Doesn't Understand Economics

Posted by Michael Link on July 2, 2008 at 09:54 AM

But reality begs to differ.

The quotes, via Think Progress:

- “The issue of economics is not something I’ve understood as well as I should,” McCain said. “I’ve got Greenspan’s book.” [December 2007]

- Seeking to explain his shift on economic issues, McCain claimed: “I didn’t pay nearly the attention to those issues in the past. I was probably a ’supply-sider’ based on the fact that I really didn’t jump into the issue.” [January 2000]

He's been denying the existence of these repeated quotes for a while now. Remember this reply from the GOP debate? But obviously, he knows he said it repeatedly; even if he had forgotten, he's had the quotes read to him.

Comments (3) «

McCain doesn't know what he's doing. Period.

His campaign can try to say it isn't so, but everyone knows it's true....specially baby boomers. No one wants a dithering fool running this country any longer when it's in crisis.

Two terms of that kind of government has brought this country to its knees.

1
SandyH on July 2, 2008 at 10:27 AM

It's called John McCain Disease...short and long term memory loss and the stubborn insistence that it's not happening.

We create our own reality.

Sound familiar? It's become an epidemic within the Republican Party.

2
SandyH on July 2, 2008 at 10:35 AM

Here's one on the Chimps McCain and Bush recession:

Deepening Cycle of Job Loss Seen Lasting Into ’09
By PETER S. GOODMAN

As automakers dropped their latest batch of awful sales numbers on the market on Tuesday, reinforcing the gloom spreading across the economy, the troubles confronting American workers seemed to intensify.

Plummeting home prices have in recent months eliminated jobs for hundreds of thousands of people, from bankers and real estate agents to construction workers and furniture manufacturers. Tighter lending standards imposed by banks in the wake of huge mortgage losses have made it hard for many Americans to secure credit — the lifeblood of expansion in recent years — crimping the appetite of consumers, whose spending amounts to 70 percent of the economy.

Joblessness has accelerated, and employers have slashed working hours even for those on their payrolls, shrinking the size of paychecks just as workers need them the most.

Now, add to that unsavory mix the word from automakers that sales plunged in June — by 28 percent for Ford, 21 percent for Toyota and 18 percent for General Motors — a sharp sign that consumers are pulling back, making manufacturers more likely to cut production and impose more layoffs. Until recently, the weak labor market has been marked more by the reluctance of employers to create new jobs than by mass layoffs.

Among economists, the sense is broadening that the troubles dogging the economy will be stubborn, leaving in place an uncomfortable combination of tight credit and scant job opportunities perhaps well into next year.

“It’s a slow-motion recession,” said Ethan Harris, chief United States economist for Lehman Brothers. “In a normal recession, things kind of collapse and get so weak that you have nowhere to go but up. But we’re not getting the classic two or three negative quarters. Instead, we’re expecting two years of sub-par growth. Growth that’s not enough to generate jobs. It’s kind of a chronic rather than an acute pain.”

Mr. Harris expects tepid economic growth and a shrinking labor market to persist through the fall of 2009.

http://www.nytimes.com/2008/07/02/business/02jobs.html?hp

3
rjsnj on July 2, 2008 at 11:46 AM


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