Senator Flip-Flop
Sen. McCain is having a hard time keeping his story straight, as this article in today's NY Times makes clear.
On Monday morning, as the financial system absorbed one of its biggest shocks in generations, Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were “strong.”
Hours later he backpedaled, explaining that he had meant that American workers, whom he described as the backbone of the economy, were productive and resilient. By Tuesday he was calling the economic situation “a total crisis” and denouncing “greed” on Wall Street and in Washington. ...
As recently as January, Mr. McCain argued at a Republican debate that Americans were better off than they were eight years ago; by this summer he had released an advertisement that said “we’re worse off than we were four years ago.”
His first big speech on the mortgage crisis warned against excessive government intervention; a month later he released his plan for government action to help people keep their homes. ...
Mr. McCain’s economic adviser, Douglas Holtz-Eakin, told reporters Tuesday that the senator, who has often favored deregulation, would push for new regulations as president.
Sen. McCain, who served for years on the Senate Commerce Committee, worked with his dear friend Sen. Phil Gramm to roll back the regulations which had kept the greed in financial circles in check. Now, when the results of deregulation are starting to manifest in horrific fashion, he suddenly thinks maybe some new regulations are in order.
It occurs to me that Sen. McCain was actually being honest that one time he admitted that economics was not his strong suit.
It also occurs to me that he hasn't been terribly honest or perceptive since then.
On Monday morning, as the financial system absorbed one of its biggest shocks in generations, Senator John McCain said, as he had many times before, that he believed the fundamentals of the economy were “strong.”
Hours later he backpedaled, explaining that he had meant that American workers, whom he described as the backbone of the economy, were productive and resilient. By Tuesday he was calling the economic situation “a total crisis” and denouncing “greed” on Wall Street and in Washington. ...
As recently as January, Mr. McCain argued at a Republican debate that Americans were better off than they were eight years ago; by this summer he had released an advertisement that said “we’re worse off than we were four years ago.”
His first big speech on the mortgage crisis warned against excessive government intervention; a month later he released his plan for government action to help people keep their homes. ...
Mr. McCain’s economic adviser, Douglas Holtz-Eakin, told reporters Tuesday that the senator, who has often favored deregulation, would push for new regulations as president.
Sen. McCain, who served for years on the Senate Commerce Committee, worked with his dear friend Sen. Phil Gramm to roll back the regulations which had kept the greed in financial circles in check. Now, when the results of deregulation are starting to manifest in horrific fashion, he suddenly thinks maybe some new regulations are in order.
It occurs to me that Sen. McCain was actually being honest that one time he admitted that economics was not his strong suit.
It also occurs to me that he hasn't been terribly honest or perceptive since then.
posted by Diane at 3:58 AM
1 Comments:
Phil Gramm.
Phil Gramm.
Phil Gramm.
You are known by the friends and advisors you keep, senator. We know you need help with this economy thing, but you did not choose wisely who would provide the advice.
Gong.
Next candidate.
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