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Posted Friday, July 11, 2008 9:57 AM

FINEMAN: McCain Doesn't Need Enemies. He Has Friends.

Andrew Romano

 

Here's my NEWSWEEK colleague Howard Fineman's take on yesterday's insightful analysis from McCain economic adviser Phil Gramm that America is a "nation of whiners" stuck in a "mental recession"--a gaffe that edges out Samantha Power's "Monster" comment and Bill Clinton's race-tinged remarks to win Stumper's coveted award for "Most Stupidest Surrogate Statement of 2008." At least until the next time one of these folks opens his or her mouth.

This was supposed to be John McCain's week to re-re-launch his campaign, this time with a tightly focused message about the economy and how he plans to fix it. He had a nicely staged debut in Denver, even if the experts quickly demanded to know how he could preserve George Bush's tax cuts, stay in Iraq and yet balance the federal budget by 2013. Details, details! Still, McCain was back in the game.

Then a one-man thundercloud named Phil Gramm rained on McCain's Main Street parade.

In one of the more boneheaded remarks in recent presidential politics (and Gramm has uttered others) the former Texas senator declared that we are in the midst of a "mental recession" and that we have "sort of become a nation of whiners."

This was so asinine as to make Jesse Jackson Sr. (and his live-microphone gaffe about cutting off Barack Obama's ... accessories) sound like Plato.

McCain, polls show, is struggling to persuade voters—even in his own party—that Republicans deserve to retain stewardship of the economy. Obama and the Democrats are way ahead in polls on questions related to jobs, health care, gas prices, business regulation, the mortgage mess—you name it.

At a time of $4-a-gallon gasoline (or more), of falling home prices in most American cities, of skyrocketing food costs and steadily rising unemployment rates, dismissing worried American voters as whining, depressed basket cases is, well, insane.

Gramm is an economist—at least he has a Ph.D. in the field—but nothing proves the stupidity of the "dismal science" more than his comments in an interview with The Washington Times. Technically, a "recession" is two straight quarters of negative growth; so technically, we may in fact not be in a recession. Or we might, but don't yet know it.

Either way, Gramm missed the point.

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Member Comments

Posted By: TatteredFlag (July 12, 2008 at 1:54 AM)

This can't possibly come as a surprise, right? The extreme disconnect between those who see themselves as all-powerful in the echo chamber that is Washington and working people, those who've watched good-paying manufacturing jobs "head south", is probably as wide as its been since the 1880s. Their stenographers have <a href="http://mediamatters.org/items/200801060004"><span>exactly the same perceptions</span></a> so the echo chamber resonates with perfect clarity - if you're on the inside. Of such disconnects are real change made. The collapse of the mortgage-derived Ponzi scheme passing as an economy means that we're just at the start of the earthquake. Someone needs to tell Phil, quick, so that he doesn't get run over by the whiners when it all comes down.


Posted By: payattention! (July 11, 2008 at 4:45 PM)

I'm a registered democrat and look forward to OBAMA!  But as an American who doesn't treat my house like a credit card, who saves during the good times so I can ride out the bad---really, Gramm has a point.  Stop living above your means, people!  --stop whining and stop consuming. Ride your bike, stop overeating, go to community college for a couple of years, and think ahead!  Anybody who thought good times would last forever during a time of WAR and G. Bush policies is a complete idiot. Most Americans supported W and his stupid war based on lies and now they whine about it..  We did it to ourselves.


Posted By: Historypro (July 11, 2008 at 3:17 PM)

Thank You Senator Gramm: you have finally publicly confirmed what I have always known about the Republican Party all of my adult life... that Republicans are completely out-of-touch (clueless in extremeis) with the average American household.  Ironically, middle-class America allowed itself to be sucked into all that Republican nonsense about family values (as if the GOP invented love of family), jingoistic patriotism, and stifling, phony religiosity.  Now, however, those Sam's Club Republicans are waking up to the sad truth about their own and this nation's security: no person or country can be secure with a ruined economy, runaway foreclosures, joblessness, a crumbling infrastructure (hello Mississippi Levee System), and lack of comprehensive universal health care, not to mention the collective responsibility for an immoral and illegal war and the condemnation of most of the free world.  I have always said I vote Democratic because I'm not rich enough or uncaring enough to be a Republican.  Now I'm voting Democratic because I believe the very survival of my country is at stake.  Four more years of the likes of Bush, Cheney and Gramm will be our undoing -- which is what will happen if this nation elects McCain because he is made of their same cloth.