John McCain's comment on a 'strong' economy sets up the day's debate

With tremors continuing to shake Wall Street, John McCain began his campaign day standing by his guns, saying this to a crowd in Jacksonville, Fla.: "Our economy, I think, still, the fundamentals of our economy are strong."

From a purely political standpoint, the week could not have started any better for Democratic strategists.

To be sure, McCain -- in his very next sentence in Jacksonville -- added that he recognized that "these are very, very difficult" times.

And at a second Florida event, in Orlando, he tweaked his comments, saying his confidence in the economy's "fundamentals" referred to the productivity, innovation and skills of the American worker. He also said, "The top of our economy is broken" -- something he promised to fix.

But McCain's initial reprise of a line he uttered earlier this summer (see below) obviously gave Democrats a chance to focus the presidential campaign away from the low-bore squabbles of last week (lipstick on pigs, anyone?) and back onto what they see as a stark divide between the two presidential candidates.

Barack Obama's running mate, Joe Biden, wasted no time seeking to do that. Campaigning in crucial Michigan, he told his audience: "I could walk from here to Lansing and I wouldn't run into a single person who thought the economy was doing well. Unless I ran into John McCain."

That's not quite what McCain has been saying, of course, but his reiteration of his "fundamentals" line gave Democrats an opening they are going to try to drive a tank through.

-- Don Frederick

[Update: Obama just took his expected whack at McCain during a rally in Grand Junction, Colo. Rhetorically, he asked his audience why "today, of all days" McCain would make his comment about the economy's fundamentals. "Sen. McCain, what economy are you talking about?" he said.]

Comments

[Joyce]

Has anyone noticed that the economy was roaring along and housing prices high, when the Democrats took over Congress two years ago?

They came in to end the war in Iraq. Did nothing about that.
But they've only weakened the economy through their do nothing congress

[Republican Folly]

Interpretation of Republican spin....
PLease don't take note of how the Republican administration has destroyed our economy over the last eight years. Let's all just close our eyes and hope the recession goes away.

[Howard in Virginia]

Strong enough to give Obama $60 million in August!
There are segments of the economy doing well, there are segments that are struggling, and there are segments that are treading water. Our economic system is not ready to crash, and if one reads the front page of the Washington Post opinion section on Sunday, you will see that the economy is in a growth mode, however slight. But the bigger problem: labor costs have sent manufacturing jobs overseas; lack of education have resulted in many workers not climbing the ladder; and social ills - I know, those always have to be brought up - are also contributing to the problem.

[Chris in Texas]

Looks like the oil companies are doing their part to get McCain elected. The script is playing out right on schedule.

1. Run crude oil prices up to a record $147 a barrel
2. McCain/Bush immediately call for off shore drilling
3. Start lowing crude prices so Bush/McCain can claim that price change was due to Republican policies.
4. Continue lowering crude prices to 52 week low just before presidential election.
5. McCain/Palin wins!!! Party time for oil companies!!!
6. Start drilling wherever they want. Let oil prices rise again.

Not that I'm cynical or anything.....

[GaryR]

Oh this is just more fodder for the 'obamabot's" and those who like to think that McCain/Palin are responsible for everything including cows giving soured milk.
The point here is obvious, take away the inflated cost of oil/gas, the banking industry woes which would have occured under any administration and the basic tenements of our economy would be sound.
However, if you want a glimpse at what an Obama presidency would do, check out the Obama/Hagel GLOBAL POVERTY ACT which has been okayed by the senate to be dabated next year in a presumably democratic held senate. This little act would cost US taxpayer around 70 billion dolllars spent abroad as a tithing agreed upon by the other little nations with no guarantee it will be used for just that. Good politics, hardly

[Jessica]

Just one more example of John McCain's lunacy. He is so out of touch with most Americans. I guarantee you he doesn't know how much Americans are paying for a gallon of gas because he and Cindy have servants who take care of filling up their tanks! I have no problem with rich people, but I do have a problem with my President being so dumb! 8 years of dumb is enough!!

[Republican Folly]

John McCain to America: Let them eat cake.

[Jeff]

It takes 60 votes in congress to have a majority and democrats currently don't have that, while the republicans set new records for filibustering. So democratic-led isn't exactly true in congress. Anyhow, McCain is a dangerous pick. His economic advisor (Phil Gramm) is responsible for a lot of the problems with gas prices and home foreclosures and called everyone Whiners.

[AnnapolisMD]

http://www.youtube.com/watch?v=igAmVs0cvY8

Sen. McCain is suffering from the onset of dementia. Just listen to his speech pattern. He is too old to be even thinking about being president.

My God, this is getting scary.

[Pete in CO]

Our economy is fundamentally sound!!???? You have gotta be kidding.
Forgetting about the gyrations of Wall St, the fundamentals now that you bring it up, are not OK. The trade deficit goes from bad to worse, unemployment is climbing, real wages are falling and the national debt (without including the cost of the Iraq adventure) is spinning out of control. And that is just off the top of my head. Obama mightn't be perfect, but he seems to have a much better grasp on reality than McCain.

[Richard Palucci]

This is the usual Republican economics. 8 years of pseudo tax cut prosperity and then crash.

[CindiS]

Gary R.
It's impossible to "take away" any part of our failed economy and then call it sound. Do you not pay high gas prices? Then you're the only one. Are you or any of your neighbors losing their homes? These are facts that cannot be taken away from the economy equation. They are the reality of the majority and the hopefully come November, the majority will rule again!!

[theo]

for me it's gop numbers never add up, which with most americans having a hard time balancing a checkbook or saving, it probably doesn't matter until it does, then we overreact sideways.

we've a 1 trillion hole right now after 2 tax cuts during 2 wars all borrowed with interest from china. mccain wants to double-down on the tax cuts so we've anothe... Read Morer 3.3 trillion piled on. and so far he's found 17 billion of earmarks to cut.

nobody will be able to escape the basic arithmetic. folks can dogmatically assert that tax cuts solve all economic problems big or small but the evidence say otherwise. in 7 years wages have fallen net inflation. that's never happened before.

lop-sided tax cuts for rich spurred markets/investments that flow overseas for best returns as rich don't spend (thus rich). and now we've a gluttony of financial and credit assets going through a firesale w/ prices tanking. and consumer demand, 2/3 of economic activity, has dried up w/ no wage growth or bubble credit left.

[Chris in Texas]

McCain is just telling people what they want to hear. "Everything is fine". "You'll be alright" - as long as you vote for me. The people of this country don't want to deal with the truth of the matter like complete energy dependence on unstable sources, huge, continual budget deficits since Reagan introduced "supply side economics" (but we'll lower your taxes - HAHAHAHAHAHA), unfunded social security and medicare obligations, funny money chasing funny money posing as "growth", on going loss of manufacturing jobs, refusal to embrace the next generation of technology (environmental technology and biomedical technology) for IDEOLOGICAL reasons. The list goes on. Anyone who DARES to tell Americans that they will have to pay higher taxes or make sacrifices to pay down the deficit or simply balance the budget get crucified.

[Chris in Texas]

Theo - well said. We're about to run into a wall at full speed.

[Rick Huffman]

Folks, please get this election right. John McCain is his barracuda do not have a clue and all they can do is sling mud and hope they distract Americans with flag waving and patriotic bull. And you know after 8 years and electing and re-electing George W. twice nothing surprises me. The American voters who vote for these neo-cons should be ashamed to have placed our country at such great risk and will force future generations to eat the mess they have made. Think on this MCcain/Bush have trashed our economy after a record surplus, trashed our environment, trashed our soldiers by not providing body armor and poor conditions at Walter Reed, making them pay for their own treatment, ,failure to secure our borders, grant amnesty to all illegals, condone torture and trashing the Geneva Convention, secret detention camps, lying to go to war, trashing our heartfelt goodwill from nations around the world after 9-11, ans lastly giving away the country to big oil, pharmaceuticals, and insurance companies. Oh yeah, lets not forget about sending our jobs over seas, using political cronies and the Justice department as a political instrument. And America wants more of this? Please, please America wake up, my grand kids need you to wake up.

[Steve]

For too long the Republicans have repeated their mantra that taxes are bad for the economy. This has resulted in (a) huge deficits that drive up inflation and cost us billions in interest payments; (b) a decaying infrastructure that costs our economy dearly--lousy roads, decrepit railways, poor schools, lagging science research, etc. In reality, moderate taxes help the economy by allowing government to invest in this infrastructure that private industry can't. This investment also spurs job-creation and consumer spending in the private economy. Democrats and independents shouldn't swallow the big lie about higher taxes. Taxes that are too high, can stifle innovation, it's true, but just as true is the fact that taxes that are too low are also ruinous, because they stifle infrastructure investment and run up huge deficits.

[kenshin]

mccain's wrong--the top AND the middle of the economy are in trouble--the middle class and working people have been suffering for a long time too. t

he top of the economy is broken? that was definitely broken during the GOP's watch. give them another 4 years, and let's see what else they can manage to break too!

[NinaK]

McCain displaying his ignorance about the economy yet again! Unbelievable! And he wants to be our president?? The man has been in Washngton for over 26 long years and knows little about middleclass America and its challenges and the difficulties we have to pay our bills monthly!! Middleclass America has to walk the "tight" rope because the current adminstration has screwed up he economy and everything else in this country!!! McCain is as responsible for the financial state in which this country has been driven to by Bush and his republicans. McCain voted in lockstep with Bush's policies 91 percent of the time, now he wants to "reform" things in Washington!!! McCain has had 26 years in which to work for America, he has failed dismally and would continue to do so were he to get elected!! McCain is NOT a smart man, he graduated from highschool with Ds and graduated from the naval academy with a D-MINUS GPA, 5th from the BOTTOM of the graduating class!!! McCain, however, is a CON ARTIST and BUNGLES HIS WAY THROUGH WHATEVER HE DOES!! Is there any wonder he ended up crashing THREE high-cost fighter jets?? NOT!! Is there any wonder he got shot down and taken prisoner?? NOT!! How can some Americans be so gullible as to buy into McCain's bulls**t?? At age 72 McCain thinks running for president is a big joke on Americans and guess what? He is definitely playing a big joke on some Americans and is getting away wih it because those Americans are too ignorant to see through this ignorant man who clearly admitted he knows nothing about the economy and knows nothing about modern technology!!! Come on, folks, we are brighter than that!! I cannot believe so many of you are opting for ignorance instead of intelligence and vision!! How sad!! It would be very funny if it weren't for the seriousness of choosing an intelligent, smart, an visionary person - Senator Obama- to get this great country back on track and to make it the TRUE LEADER of the world!! We really do not need an ancient POW w/dementia and a backwoods moose slaughtering defeated beauty queen at our helm!

[stered]

God, look at how misinformed some of these responses are. For example people claim that when McCain says the economy is strong they are too uneducated to understand that he is talking about the basis of the economy, and encouraging people to look past the media hype which on day send the Dow down 300 points (in which Obominations complain), then suddenly the next day or two after the deer-in-the-headlights investors chiill out, it goes back up 300 points. You not going tp get a one track mind person to admit to that. Further, how funny is it that Bidden lied today but Obaminations are not admitting to this. For example Bidden said that McCain was in lockstep with Bush that we should not raise a fuss about the lousy response to Hurricane Katrina. That is a lie, McCain supported two bills to investigate. You, of course, wont find that story on the Huffington post, Salon, Democracy Now, or the UK Guardian, which these "open minded" Obominations get their one sided info from.

[Oh, Canada!]

Stephen O'Harrow -
Damn - you're good.

I flipped my share of burgers in the States. After that I watched my career get outsourced. As one burger flipper to another- why didn't they trust us with the freedom and the capitol to re-invent this economy 25 years ago? I guess they figure there is more money in selling us out.

A call to rebuild the economy with green energy from the bottom up will put a premium on skilled workers and intelligent management while increasing the value of innovative American Companies and PUBLIC EDUCATION.

Sounds like a job for a community organizer.

I found my way through the maze only to see my investment gains in real estate and market funds erased in the "free" market gamed by international banks.

I guessed that growing old would mean growing poor in the good ole USofA. Not for me, thanks.

10 years ago I invested in Canada. Now I have a home that is paid for and free health care for life. My son will have a major University education that costs a third of what it does in the States.

So long suckers. America is a global brand and nobody in the real world is buying the hype anymore.

[John Quimby]

If your team has a losing season, what do you do?

You fire the manager and hire some new talent.

If your 20 game winner collapses, gives up a dozen games and claims it's the press and the umpires fault, what do you do?

You trade him for a winner.

It's time to fire the old manager, shuffle the roster and buy some pitching.

[robin]

No surprise, John McCain doesn't fly economy.

[doggyrun]

I'm so sick of this campaign. I can't wait for Obama to lose so he and his loudmouthed supporters can begin their journey into obscurity. Don't like McCain supporters much either. Now that Clinton isn't running anymore it's a lose-lose situation for all. I'm getting the hell out of this country asap...

[jwin]

JOHN MCCAIN FOR PRESIDENT!!!!

Get ready to lose your JOB, your HOME and STARVE.

I’m John McCain and I approve this message.

The “fundamentals of the economy are strong,” what a joke!