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Senator McCain Is Out of Touch On the Economy--the Fundamentals Are Not Strong

Date: Sept. 23, 2008
Location: Washington, DC
Issues: Economy and Fiscal


SENATOR McCAIN IS OUT OF TOUCH ON THE ECONOMY--THE FUNDAMENTALS ARE NOT STRONG -- (House of Representatives - September 23, 2008)

Mr. ELLISON. Mr. Speaker, the Bush administration, Senator McCain and congressional Republicans need to realize that economic hardship does not end on Wall Street. For 8 years now, Washington Republicans have been implementing policies that have also hurt Main Street.

Today, middle class workers are struggling to make ends meet on paychecks that are, on average, $300 smaller a year than they were back in 2001 when President Bush took office. Meantime, grocery prices have increased by more than $800, home energy prices are up $300, and health care costs are up more than $2,000.

In total, American families are paying $4,000 a year more for these basic necessities than they did during the Clinton administration. No wonder the American people are feeling financially squeezed.

Senator McCain said he doesn't really understand economics very well, and he proved it when he said that the fundamentals of the economy were strong. How can Senator McCain turn our economy around if he doesn't even recognize that we are in trouble?


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