McCain's Economic "Fundamentals" Definition Ripped By Obama Campaign

John McCain quickly got hammered by Barack Obama on Monday when he declared that the "fundamentals of our economy are still strong" at an event in Jacksonville, Florida. John McCain subsequently attempted to walk back the comment in a later speech, saying:

"The economic crisis is not the fault of the American people. Our workers are the most innovative, hardest working, best skilled, most competitive in the world. That is the American worker. My opponent may disagree, but those fundamentals of the American worker and their innovation and entrepreneurship, those are the fundamentals of America and I think they're strong. But they are being threatened today, those fundamentals are being threatened because of the greed and corruption that some have engaged in on Wall Street; we have got to fix it."

As the Politico noted, that's an awfully vague (and idiosyncratic) way to define economic fundamentals -- which are actually statistical indicators like unemployment, inflation, and consumer confidence.

Now, Barack Obama's campaign is hitting back at McCain's attempt to redefine his earlier remarks. In a statement to the Huffington Post, spokesman Ben LaBolt said: "John McCain must think the American people are stupid. His campaign's pathetic attempt to clean up their candidate's disturbingly out-of-touch statement that the 'fundamentals of our economy are still strong' is about as believable as the dishonest, dishonorable campaign they've been running."

Comments

[mrmetoo]

Even if doesn't get posted, I just want to suggest that this should be the lead story pls lets forget about Sarah, she's turning into old news. People need to understand how out of touch McCain is

[mrmetoo]

I see an ad coming... McCain says he doesn't know much about the economy, says he divorced from the reality of everyday americans, and says the fundamentals of the economy are strong... I am ... and I approve this msg

[micalsoft]

Apparently, the gullible media at least believes this garbage. Hopefully the gullable voter will not.

The democrats ran for election promising us change in 2006. They have had the checkbook of this nation for the past two years, NOT George W. Bush, and NOT republicans, what has happened? What have they done to prevent this current economic state?

What have they done to bolster the middle class? Riddle me those things, please.

[demandfortruth]

they got 48 of 50 bills filibustered by the republican congress--a record.

[ErnestineBass]

Not to mention Booosh removed the cap on his Veto Sharpie for the first time in six friggin' years.

[kesiac]

Heres a good reference for the fundamentals of the economy. To summarize the fundamentals of the economy are not strong:
http://www.prospect.org/csnc/blogs/tapped_archive?month=09&year=2008&base_name=what_are_the_fundamentals_of_o

[Meggie]

Another LIE John? Just 12 short months ago you were calling the American worker incompetent and lazy and sarcastically offering $50/hr to any of them shortsighted enough to try picking lettuce for one season when we all know in advance that they can't do it.

[MDCambridge]

McCain insults the intelligence of the American worker. To float this argument, McCain is cynically saying, "the gullible American worker will swallow this one too."

[mgray34]

Now that McCain is stumbling a bit, it would be great to hit him with some Keating 5 reference to tie it all together. There is no time like now. It would be relevent to the crisis on Wall Street today.

[jean22]

McCain has been stumbling (a lot) from the day he began his campaign. But I agree Keating 5 should be mentioned. I say everyday until the end of this election.

[Meggie]

Yes. Show everyone a little of his experience on the financial front.

[linzy]

Quite right! But of course he'd figure some way to "stretch the truth, skew the data, or manipulate any recorded statements." But then why bother? He could just lie about it. He seems trying to establish his credentials as some kind of "born again" Republican... I'm really up for change, standing by the working man/woman, caring, compassionate... who does that remind you of?

You becha' he needs to be called out about his ties to the Keating boys!

[yoyobrit83]

I haven't heard 1 word about the Keating 5 AT ALL.

I want to and think we deserve to know the details.

[nhplanner]

I agree, this is a good time to bring up the Keating 5. McCain got a slap on the wrist. He gets big campaign money from Charles Keating , presidinet of a California Savings & Loan then works to get federal regulators off Keating's back. Keating's bank and others went belly up because of bad loans (sound familiar?) and the taxpayers had to shell out $160 billion to bail them out. McCain's record is disgraceful.

[fayted]

Fooled us once, fooled us again, trying to fool us, baby one more time.

[cubs325]

beyond belief!!!

I realize he is self proclaimed weak on economics BUT EVEN I KNOW THAT ECONOMIC FUNDAMENTALS - are NOT referring to the sweat and toil of the individual american worker

[whit4brains]

Hmmm...when you own so many houses you can't remember I guess you feel pretty secure right now...I on the other hand am praying daily I don't lose the ONE that I own.

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

[TrinityLee]

Calling the spin-doctor, calling the spin-doctor--do you copy, over...

McCain you are so foolish. US economic fundamentals are not 'strong'. Where have you been for the past year? Oh-- In one of your seven-ten houses; depending on what the definition of house is. You sir are a moronic, incompetent republican puppet, a dwindling shadow of your former self.

You say the fundamentals are the American worker's-- we'll jobs are being lost and sent overseas thanks to you. Good lookin out for the fundamentals.

[MsYellowDog]

He has been in the never-never land of NeoCons,where Up is Down,Black is White,and the never-ending conflict in Iraq actually has some sort of resolution that one can call "victory" or "success."(HUH??!!)And he will not come out of Never-Never Land until the voters send him into some form of reality,otherwise known as back to the Senate where he can do a minimum of harm.

[rasthedestroyer]

the red king has put his bishop and his queen @ risk.. time for the blue knight to attack his right flank.. only 2 or 3 more moves left before check ..maybe checkMaTe..

[Chillinout]

This is an ad in the making:

"Our economy is basically sound." - Herbert Hoover 1930

"The fundamentals of our economy are still strong." John McCain 2008

[DebbieinPhx]

ooooh, I really like it.... It should be a BUMPER-freakin'-Sticker, huh?????

[Gib]

Except that the average voter will say "Herbert who?"

[RENREVARD]

McCain tied to clarify by saying it was worker of America who are strong. Well no thanks to McCain who has voted time and time again to deep six the working class.He voted 18 times against raising the minimum wage.He has voted for every Trade Deal that ships good paying jobs overseas.He does not endorse insurance for 47 million who cant afford to be healthy,He voted against the children's health program SCHIP that helps the working class take care of there children's health problems He voted against equal pay for women.Voted against funding for public education McCain voted against going after predatory lenders..McCain has never voted for one bill that helps the middle class.

[holyhandgrenaid]

"The economic crisis is not the fault of the American people. Our workers are the most innovative, hardest working, best skilled, most competitive in the world. That is the American worker."

innovative- perhaps
Hardest Working- no, we're not
Skilled- I'll allow it
competitive- no way, we cost too much

BUT, making these points in no way blames the American worker- We sadly cannot compete with China in most industries, which is directly the fault of the neocon tax incentives to sending jobs overseas. This policy is burying the American worker, and American small businesses. Home Depot with goods made in China has buried the local hardware store. Walmart has buried everyone else the same way. Sadly, we can never get these jobs back, because we can never go back to the way it was. However, what the American worker needs is someone who wants to move forward, and right these wrongs in the right way. McSame promises no such thing. He promises the same policies that have gotten us here. Obama '08

[SadButWiser]

You are right. I totally agree with you. Hardly competitive, unless you compare them to the French.

[demandfortruth]

hah that's funny because i live here now...and yeah its true they really don't work compared to americans 60 hr/week schedule...it is frusterating at times (do they really need 2-3 hour lunchbreaks? really?!)