McCain's Assessment of the Economy Shows That He Really Is Not an Expert On the Economy

Press Release

MCCAIN'S ASSESSMENT OF THE ECONOMY SHOWS THAT HE REALLY IS NOT AN EXPERT ON THE ECONOMY -- (House of Representatives - September 17, 2008)

Mr. COURTNEY. Mr. Speaker, in December, Senator McCain admitted that he is not an economic expert when he stated ``The issue of economics is not something I've understood as well as I should.'' He went on to say, though, that he had Alan Greenspan's book. Well, clearly, Senator McCain should listen to Greenspan, who called this week's financial news a once-in-a-century type of financial crisis. Unfortunately, Senator McCain was not listening because his response to the catastrophic economic events of this week was ``the fundamentals of our economy are strong,'' and he called for the oldest, lamest Washington trick in the book--the creation of a study commission.

We don't need a commission to know that 600,000 Americans have lost their jobs in the last year, that the median income for working Americans has fallen over $2,000 a year over the last 8 years. Those are not strong fundamentals.

Mr. Speaker, at a time when every economic expert agrees that our economy is in crisis, we need someone in the White House who is ready and willing to act now to fix it, and clearly, that person is not Senator McCain.

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