"The Obama campaign routinely tweaks John McCain for having argued that the "fundamentals of our economy are strong." Last week, the Washington Post's Jonathan Weisman criticized Obama for using the line, insisting that the quote is "months old."
Except, it's not. This morning, in the midst of a genuine crisis on Wall Street, John McCain once again touted the underlying strength of the economy:
"You know that there's been tremendous turmoil in our financial markets and Wall St. And it is -- people are frightened by these events. Our economy, I think still -- the fundamentals of our economy are strong. But these are very, very difficult times."He really, really doesn't get it. Or he's just saying it to make people feel better so they'll vote for him. Either way, it's sad and shameful.
Addendum: let me modify my assertion - McCain does have some experience with financial turmoil like this. I had forgotten about his involvement with the Keating Five. As noted by Joe Klein of Time Magazine...
He was a member of the Keating Five. This was the signature scandal of the Savings and Loan crisis, twenty years ago. It concerned the insider help that five Senators gave Charles Keating and his Lincoln Savings and Loan, in return for contributions and gifts. The deregulation of S&Ls--community banks dedicated to local mortgages (like George Bailey's bank in "It's A Wonderful Life")--enabled slick operators like Keating to make reckless loans in new areas where they had no expertise. The final tab to the taxpayers was $165 billion.