So, how do you recover from saying that the fundamentals of our economy are still strong on the same day that the one of the country’s largest investment banks collapses and the stock market drops over 500 points? Well attack the opposition for pointing out your blunder, of course!
“The McCain-Palin campaign responded that Obama had both ‘inflated his own resume’ and disparaged American workers [by arguing with McCain that the fundamentals of the economy are not currently strong] with his attacks on McCain, who had revised his earlier claim that the fundamental of the economy are strong to state that, in fact, it is American workers who are strong. ‘Barack Obama offered nothing new except for sharp criticisms of the most fundamental elements of the American economy and pessimism about genuine efforts to restore our country’s prosperity,’ McCain-Palin spokesman Tucker Bounds said.” Full article here
Shocking, isn't it?
So, a point of clarification: the fundamentals of our economy are you guys! Gee, what a swell guy… thinkin’ so much of us… except you 6.1% who can’t seem to find work for some reason. F you guys… Stop bilking the government for those fat unemployment checks, and stop calling McCain out for being an economic dummy.
On Tuesday, McCain even came out and called for a commission, much like the 9/11 commission, to investigate what in tarnation is going on! Well let me help McCain out with that… Phil Gramm, the man who called the fundamentals of our economy a “nation of whiners” and currently co-chairs McCain’s campaign (and has served as his economic advisor), helped push through the Commodity Futures Modernization Act while he was a US senator. This act, which was attached to an omnibus spending bill (that was virtually bulletproof due to the fact that it HAD to pass), allowed for unregulated credit default swaps. These swaps are purchased by financial institutions to protect their high-risk investments… However, since Gramm’s legislation kept these swaps unregulated, no one was able to ensure that the reserves existed to cover potential losses… Smart. Go Gramm. With that in mind, how do you feel about Gramm directing McCain’s economic policy?
So, to recap… the word “fundamentals” is synonymous with “American workers,” the name “Tucker” is fast becoming a name for ass-hats, Phil Gramm thinks you’re a pussy, and one of the people running to be the leader of this country needs a commission to tell him and his advisors (like Phil Gramm) what’s wrong with our economy.
Someone get the McCain campaign a mirror…
…Or perhaps a few textbooks you might have sitting around.
Bandit Pulpit 