TPM: has broken a story that McCain Advisor Phil Gramm had this to say concerning Americans fears of a recession
"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."
amazing isn't it, its all in our heads, there is nothing wrong everything is fine, people are freaking out over nothing.
he went on to say
"We have sort of become a nation of whiners," he said. "You just hear this constant whining, complaining about a loss of competitiveness, America in decline" despite a major export boom that is the primary reason that growth continues in the economy, he said.
Jumping on this The DNC responded:
What John McCain, George Bush Phil Gramm just don't understand is that the American people aren't whining about the state of the economy, they are suffering under the weight of it -- the weight of eight years of Bush-enomics that John McCain and Phil Gramm have vowed to continue. How dare John McCain and his advisers so callously dismiss the challenges the American people face. no wonder voters feel John McCain is out of touch, he and his campaign don't even understand the everyday issues Americans are dealing with."
TPM wonders and I do too, will the MSM pick this up? and what easy softball headline will the AP give this one?
time will tell on this one
Update [2008-7-10 12:11:32 by TruthMatters]: realizing just how bad this could be for him the McCain Camp is distancing themselves from the statement
"Phil Gramm's comments are not representative of John McCain's views. John McCain travels the country every day talking to Americans who are hurting, feeling pain at the pump and worrying about how they'll pay their mortgage. That's why he has a realistic plan to deliver immediate relief at the gas pump, grow our economy and put Americans back to work."
McCain himself will adress this personally to reporters later today. Between this and his recent statements on social security calling it a "disgrace" I don't think this will kill the story for him
Update [2008-7-10 12:29:12 by TruthMatters]: Obama camp is now joining the fray with this response
"One of Senator McCain's top economic advisors may think that when people are struggling with lost jobs, stagnant wages, and the rising costs of everything from gas to groceries, it's merely a 'mental recession'. And Senator McCain may think it's sufficient to offer energy proposals that he admits will have mainly 'psychological' benefits. But the American people know that our economic problems aren't just in their heads. They don't need psychological relief - they need real relief - and that's what Barack Obama will provide as President."
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