As Banks Fail and Stock Market Plummets, Taking
Savings with It, McCain Repeats Disturbingly Out-of-Touch Claim
WATCH VIDEO HERE: http://www.youtube.com/watch?v=oWMVW_82dQ8 MADISON – The Democratic National Committee today released a Web video titled "Fundamentally Strong?" highlighting John McCain's out-of-touch claim yesterday that "the fundamentals of the economy are strong" – even as Americans watched the stock market plunge and saw their savings and retirement slip away and as two major financial institutions went belly up.
"McCain's remarks yesterday are only the latest in a series of out-of-touch remarks on the economy from McCain and his advisors," said Democratic Party of Wisconsin Chair Joe Wineke. "Despite 26 years in Congress, McCain still doesn't understand the economy, and he's out of touch with Americans' economic struggles."
McCain has said that "the fundamentals of our economy are strong" at least 16 times over the past year and a half, even as Americans have struggled with decreasing incomes, mounting job losses, and rising costs for everything from groceries and gas to health care. Meanwhile, top economic advisor Phil Gramm called Americans "a nation of whiners" and just this weekend McCain advisor Donald Luskin wrote in the Washington Post that "Things today just aren't that bad," and that Americans "have surely become a nation of exaggerators."
That's even as gas prices have soared over the last eight years, home values are plummeting, and the median income has dropped since Bush took office, according to a July report from the Democratic Policy Committee.
The web video, "Fundamentally Strong?", captures 10 instances of McCain's repeated insistence that "the fundamentals of the economy are strong" and the disturbingly out-of-touch remarks of his top economic advisors.
To see the new web ad, "Fundamentally Wrong," click HERE.
DNC Web Ad
MCCAIN: "I want to convince you of my belief and my firm conviction that
MCCAIN: "So our fundamentals, I still believe, are very strong." [Town
Hall, Round Rock, TX, 2/29/08]
MCCAIN: "But the underpinnings of our economy are strong." [Rally,
MCCAIN: "But the fundamentals of
MCCAIN: "I believe the fundamentals of our economy are still strong."
MCCAIN: "The fundamental principles, the foundation of our economy, is
MCCAIN: "The fundamentals of our economy are strong." [Speech and
MCCAIN: "Our economy, I think, still, the fundamentals of our economy
are strong." [Rally,
MCCAIN: "The fundamentals of it are strong." [Rally,
MCCAIN: "I still believe that the fundamentals of our economy are
strong." [Laura Ingraham Show, 8/20/08]
TEXT: "Things today just aren't that bad." "When it comes to the
economy, we have surely become a nation of exaggerators." McCain Advisor
Donald Luskin, September 14, 2008.
GRAMM: "We've surely become a nation of whiners." [Interview with