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

[GSMRaleigh]

I think McClueless needs some tutoring by Alan Greenspan.

[CaptainZero1969]

To all you america hating liberals out here - the fundimentails of this here econome is very strong. Strong like 100 proof whiskey!

I'd say more but I've gotta run down to WaMu to cash my AFDC and unemployment checks.

[Meggie]

be quick WAMU is on the block next after AIG.

[DrVeruju]

There they go again ...

[larrywb59]

fundamentals of our economy are still strong? is he insane?.....ALL I HAVE TO SAY IS KEATING 5!!!!.
this would explain his reality or lack of it.

[MsYellowDog]

I have often thought that McCainasaurus actually must be insane to say the things he does.

[olderdem]

Ironically the potential loan guarantee to the auto companies is being billed by many as a "bailout". Perhaps it could be construed that way, but the reality is that the "fundamentals" of our economy are a disaster and the cost of borrowing for the auto companies has sky rocketed -- mainly because of this financial meltdown. Raising capital is now virtually impossible for any company at any reasonable cost.

The lower cost loans (no cost to the govt if paid back), would allow the auto companies to accelerate plans to get to more fuel effiicient vehicles -- both increasing near term employment, and longer term energy efficiency -- both things that would improve the fundamentals of the economy.

[drkazmd65]

Gotta agree olderdem - is similar in many ways to the loan guarantees we fronted Chrysler back in the 1980s.

Problem is - the economic 'fundamentals' were better then. Chrysler paid back the loans with interest and on time without the Government having to directly step in and cover their guarantees.

I'm not as convinced that these companies, in this climate, with this starting point are going to pay back America as well OR on time.

Gotta try though I suppose. If all of those jobs permanently disappear from the (formerly) Big 3 - they will be extremely hard to replace.

[larrywb59]

fundamentals of our economy are still strong? is he insane?.....ALL I HAVE TO SAY IS KEATING 5!!!!.
this would expkain his realy or lack of it.

[Canukistani]

Look, Senator McCain makes one little verbal mistake and everyone jumps on him. He didn't mean to say the fundamentals of the economy are strong. He meant to say the economy of the fundamentalists is strong. It's an easy mistake to make. It could happen to anyone.

[AMERIKA]

Perfect!

[PingMama]

LOL

[kellygrrrl]

Nancy Pfouthaufer (sp?) just repeated the same line

"The Fundamentals of the Economy are strong."

[MsYellowDog]

That woman perfectly illustrates my long-held contention that there can be no such creature as a Republican Woman; the phrase itself is a perfect example of an oxymoron---one cannot be each thing at the same time in the same person.

[libbygirl]

What exactly is it that McCain is "in touch with"?! I can come up with a few things and none of them are good.

[fignozzle]

if mccain is so much smarter than obama (in his mind, certainly not mine!), why does he model himself after obama??
with all the agent of change and stuff and just this morning i heard him say "ENOUGH! enough is enough!"
whats up with that??

[Ozarks]

he changed to change after selecting Palin as VP. Since she has no experience other than ducking subpoenas he couldn't keep using the "inexperience" argument on Obama. That meant all the money he spent on Obama's alleged inexperience went down the toilet with all of McCain's other arguments like the 3 AM telephone borrowed (briefly) from Hillary.

[rossir]

McCain on fundamentals:

American workers are great
they just don't have great work
or they just don't have work
or they just can't keep up
or they just can't keep their home
or they just can't afford healthcare
or they're just not good Americans

[Whinger]

Jeez John, eight homes and a bridge in Alaska, you're a well propertied man!

You'll make a fortune when you open the toll booth, fifty split with Sarah?

[Insearchoftruth]

Every rebuttal, attack or counter by Obama needs to use one of these words: "honor", "honorable", or "dishonorable". One week from now he should add the word "maverick".

[sherbug]

In all fairness, the fundamentals of the economy are sound if you are a multi-millionaire like he is. You have our government trading tax breaks and deregulation in exchange for profitable markets for the rich.

The economny for us has not worked in 8 years. We have seen our jobs leave the country, we have to bear witness each day as to how the stock market can be manipulated at will and it all seems to be done legally. This is what Obama needs to hone in on. He should start talking like McCain sees his economy sound, but that has nothing to do with your economy. He should stress that this is what happens when you snatch the middle class out of the economy. We are the ones that keep it moving by paying mortgage notes and buying goods and services with credit cards. When we are shut out of the economy, like we are now, you have a meltdown. Obama needs to stress that this is a direct result of war on the middle class.

[SheriChardonnay]

and all the rethug on msnbc could say was "keep it up" lmao

[SimJack]

I completely understand McCain's position on the economy. When you have $100M+ in the bank you are fundamentally sound.

[Sparty1]

True.