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McCain: I'm The Optimist When It Comes To The American Economy

John McCain's efforts to remake himself as a fire-breathing, regulation-wielding populist who will take on Wall Street continued again today with a speech in Michigan.

Notably, in an effort to put his best gloss on previous optimistic statements, such as his repeated claim that the "fundamentals of our economy are sound," McCain cast himself as an optimist on the economy and suggested his foes are pessimists who think our "nation is in decline."

In so doing, McCain even tried to claim the mantle of a Democratic President who dramatically expanded the very type of Federal regulatory power that McCain has decried for years, if not decades. From the prepared remarks:

One of our great Presidents, Franklin Roosevelt expressed this optimism even at the height of the Great Depression. He said: 'Plenty is at our doorstep, but a generous use of it languishes in the very sight of the supply.' My friends, that is true again today. I reject the doom and gloom that says our nation is in decline. America's best days are ahead.

It's unclear, of course, who McCain thinks has said "our nation is in decline." More excerpts after the jump.

"It's great to be here today with the assembly workers of this GM plant. I'm here to send a message to Washington and Wall Street: We are not going to leave the workers here in Michigan hung out to dry while we give billions in taxpayer dollars to Wall Street. It is time to get our auto industry back on its feet. It's time for a new generation of cars and for loans to build the facilities that will make them.

"These workers here are the best in the world. They are the backbone and foundation of our economy. One of our great Presidents, Franklin Roosevelt expressed this optimism even at the height of the Great Depression. He said: 'Plenty is at our doorstep, but a generous use of it languishes in the very sight of the supply.' My friends, that is true again today. I reject the doom and gloom that says our nation is in decline. America's best days are ahead.

"We are going to fight the special interests and corruption in Washington. We are going to fight the greed and irresponsibility on Wall Street. And we are going to create prosperity for our people.

Now is the time to grow our economy. My plan does that. Senator Obama's does not. He has said in recent days that he may delay his economic plan because of the adverse impact of his tax increases. Even Senator Obama admits that the agenda he has been pushing for would hurt our economy.

"That is exactly the wrong approach. I am going to create jobs and get our economy back on its feet. I am going to lead our nation to energy independence with new technologies here in Michigan and additional drilling here at home. As President, I am going to fight for the people and workers of Michigan, and bring this economy back."



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Ree-hee-hee-HEE-HEE-HEE-HEE... EEEeeally?

Florida residents consider this...

Wall Street is in tatters. Wall Street banks are teetering on the brink of collapse. Millions of people’s pension funds are crumbling as investment firms go under. Consider what would have happened to your retirement if John McCain and George Bush had managed to privatize your Social Security?


How can anyone believe economic talk from a self-described economic novice? I just don't get it.

http://thepajamapundit.com/

DOnt be fooled, this was mccain 10 months ago when asked if he anticipated this economic downturn:

"So, I’d like to tell you that I did anticipate it, but I have to give you straight talk, I did not.”

It's the last quarter of the vid that needs to be isolated and added to McCain claiming on the stump now that he saw it coming.

"I reject the doom and gloom that says our nation is in decline. America's best days are ahead."

He went on to add:

"Then again, these days have been that bad for me. So screw ya'll!"

Obama takes the lead in Gallup tracker:

O: 47 M: 45

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"Even Senator Obama admits that the agenda he has been pushing for would hurt our economy."

huh?

BO has regained his Gallup poll lead 47-45
http://www.gallup.com/poll/107674/Gallup-Daily-Election-2008.aspx

Bounce, RIP?

It's dead and buried.

See you at the wake.

Wow, that means he polled very well yesterday. Isn't that a 4 point swing?

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Don't you wish there was some way to tell how much effect the SNL skit had on those numbers?

It's easy to be optimistic about the economy when don't even know how many houses you have.

Wonder how the McCain/Palin/Gramm Axis of Adgenda Driven Willful Ignorance (ADWI) will respond to the news that AIG has been nationalized ??? Creeping socialism, perhaps?

Hey, if the Feds can nationalize the financial services industry, they can jolly well nationalize the health care industry as well.

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He is quoting FDR.

Man, I should think that would bring Zombie FDR right up out his grave!

How about something on the Rothschild story, Greg?

Rothschildren are so 18th-century.

Oh god, why bother? Seriously. A Baroness called Obama an elitist.

The true definition of irony.

Why bother is explained by Josh in his post on the main page. Why Greg doesn't bother is not explained but entirely clear.

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WTF, Why?

The worlds economy is thrashing all over the place, the Dutch are leaking evidence that we're planning a robot bombing in Iran, another former Soviet state's government is threatening to collapse and you want to wallow in more Clinton vs Obama bullshit?

Forget Rothschild. Keep your eye on the ball.

We both know Obama will keep his eye on the ball. In the meantime I direct you to TPM's front page.

John McCain: A Recipe for Economic Failure

Just as Cindy McCain has stolen her Cookie recipe from Hershey's, John McCain is stealing his economic plan right from the George W. Bush playbook. He is ill at ease when speaking about his plan for the economy because he knows he has been a direct supporter of the deregulation that caused the failures in our economy. Deregulation has allowed the Wall Street crowd to behave as chipmunk’s hording up all their acorns and leaving the scraps for the average American. His one moment of honestly was when John McCain admitted "The issue of economics is not something I've understood as well as I should". Where does he get his economic vision from? McCain says "some of my best friends have opinions about economic policy". And who are these best friends? Seven of them run his campaign, and they are lobbyists for big oil, pharmaceutical, foreign dictators, and failed Wall Street giants. Doing more of the same again and again and telling people that they can expect different results does not make you a maverick. At best, it makes you insane. At worst, a liar.

McCain is not telling the truth, about the economy, or Barack Obama. Barack Obama’s middle class tax cut gives 95% of working Americans a tax cut of up to $1,000. He will crack down on predatory lenders, punish corporations who send American jobs overseas, reform requirements on all regulated financial institutions and streamline our regulatory agencies. "This time - this election - is our chance to stand up and say: enough is enough!" (Barack Obama, 2008)

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Economy on Life-Support.

Rule of Law under Attack.

Lady Liberty?

.... well, check out this artwork, copyright 2008 by Zena Saunders:

http://www.zinasaunders.com/pages/illustration/images/palin-hunter.html

(she's given permission for it to be posted... so long as we note the copyright and her website)

Powerful and disturbing image. Hope it gets seen alot.

FDR is rolling in his grave. McCain isn't worthy of licking FDR's boots.

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Ahh, that's more like it. Just sit back and watch Gramps McCain torpedo himself.

Mccain does more flips than Olga Korbut on speed

LOL. Nice.

Obama has been given a gift, in the form of an opposing candidate who is now taking positions that are diametrically opposed to the positions he took on the same subjects only months earlier, in an age when everything a public figure says is captured and available on video somewhere.

I really think he should be doing more to impeach McCain's credibility with McCain's own words. It's easy to do, and nothing is more effective.

Nancy Ptoooenhooie was on Chris Matthews yesterday trying to push this meme, like bad thoughts are going to make the economy bad, and since Americans are the best darn little workers in the whole wide world everything's going to be fine. This is all reminiscent of '04 when the Republicans and media started accusing Kerry of being a pessimist and he had to go around saying, "I am optimistic about America." But I don't think it's going to fly this time...

Obama quotes Eleanor this morning, now McLame is out with FDR. The first made me happy, the later makes me pissed! Quoting FDR while he praises privatizing Social Security, cutting Medicaid, tax cuts for the wealthy. McSame doesn't appreciate the type of leadership and the safety nets FDR provided us with.

Can you please reference Obama's mention of Eleanor? I would love to see/hear it. Thanx.

He didn't mention her specifically, he just used the line "no ordinary time" which, for big Roosevelt Dems like myself, is a reference to her Convention speech of 1940.

I have the whole quote from the Convention in the thread on Obama's 2 minute economy commercial.

Great, thank you. I too a big Roosevelts fan. This link

http://www.gwu.edu/~erpapers/mep/displaydoc.cfm?docid=jfk39

leads to; Eleanor Roosevelt 
Speech before Kennedy for President Rally 
St. Louis, Missouri
October 27, 1960. She addresses race, religion, and youthful energetic leadership, very apt for our current circumstance.

Make a whole series of ads chronicling McCain's flip-flops, each with a theme (the Iraq war, the economy, etc.). Give each segment a whimsical, clever title.

Replace Obama's name with his own name and you would think McCain is campaigning for Obama.

This is weird, this guy is willing to say and do anything to be president.

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sen. mccain's strategy here isn't all that stupid. if he takes a more optimistic approach, voters might respond positively. in the face of negative economic news nearly every single day, voters might see his stance as a breath of fresh air and see sen. mccain as someone who can see the light at the end of the tunnel and lead the country out of it.

of course he distorts sen. obama's record. of course he doesn't highlight his long-standing record of being a deregulator. of course he doesn't remind the audience of his self-acknowledged lack of understanding on the economy. these statements, would be poisonous.

if he stays positive and says "i've been in the senate long enough to help our government steer us out of economic declines before. as president i would do the same. sen. obama hasn't had the opportunity to understand the cyclical flow of the economy- i have the experience to lead our country to a brighter future" then i think he'll get that bounce he's looking for.

sen. obama, i think, should hit back at sen. mccain's own words and sen. mccain's own record. as long as obama keeps the discussion on the economy, he is at an advantage. he also needs to do a better job of clearly stating (as succinctly as he can) why specifically he would be a better steward of the economy than mccain would be. he has pointed at some of his senate action, but i think it would be helpful to be clear and understandable like: "sen. mccain has said he doesn't understand the economy. it's true. he's been for deregulation of the market which leads to chaos and mayhem on our pocketbook. i understand that for the market to play fair for all americans, sometimes the referees need to keep score and make sure the rules are being followed. this will ensure that the market works for wall street as well as main street and will restore our economy to the days during the last democratic president"

(i borrowed the "referee" concept from a poster quoted on tpm's front page)

Word to McFautus

Beazlebub: n.

"The Great Imposter, faker and deciever, of otherwise good men, whose job it is is to thankfully keep us honest. He is not real, though believing him to be so, he will convince you he is and you will then believe it is so. The unholy sleep he induces can indeed deepen, but can never fully take one over without chance of waking, as nothing can lie outside of Infinite Love & Intelligence. Nightmares are infinite though also, and should be avoided at all costs.

"Beazlebub is able to impersonate most politicians, some lawyers, too many doctors, Generals & Majors, bosses IN general, priests and holy men of every faith... Basically, anyone who thinks he's in charge but really isn't and has convinced himself he believes he is."

FDR on McCain and the economy:

"(McCain) is a man with two perfectly good legs who, however, has never learned how to walk forward."

"There are many ways of going forward, but only one way of standing still- McCain."

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Frankly, if he would just drop out of the race, I bet we'd see the Markets jump all over the world.

The markets are bearish on mcPain. Simple as that!

Hoover was also an optimist.

Obama +2 in the gallup today...The McWar ship is finally sinling...


Obama needs to hammer mcWar on the economy every day. Every single day!!! with ads, speeches...


See, if you point out what's wrong with economy, that's a bad thing.

McCain: I know how to fix the economy. I'm optimistic that my team--all fat cat corporate lobbyists--will find new and exciting ways to screw the American worker even more. Remember, too, the economy can't be all that bad. I still have my seven, eight...ummm..well, it's not important how many houses I own, but I haven't yet lost one due to this so-called economic crisis. Don't worry, be happy!

McCain is backpedaling so fast to Obama's positions on so many issues that by the end of the month I fully expect him to claim he's actually black, and all his kids except Bridget are adopted.

Here is where McCain's commission proposal makes him look like a complete dunce:

He also said yesterday:

"I was chairman of the Commerce Committee that oversights every part of our economy,”

http://thinkprogress.org/2008/09/16/mccain-commerce-committee/

Since he was, doesn't his call for a special commission, to look into the Wall Street Disaster, and tell him what needs to be done, expose McCain as having not learned a damn thing about the financial markets, during his long stint as "chairman of the Commerce Committee"

Isn't that the most damning revelation of all, that McCain told us about himself!

He just admitted that he has no idea about what went on during the financial markets collapse, and as President he would be completely in the dark about what to do about it.

McCain told us, yesterday, that he did not learn a damn thing about the workings of the nation's commerce, and banking systems, even though he chaired the Senate Committee, for many years.

McCain admitted that he is still just as poor a student as when he ended up in the bottom five of his class at the Navel Academy.

McCain is too stupid to be President. He is actually even dumber that the current Moron in Chief.

I know it's pathetic because so many politicians use 'my friends' when they speak but whenever mccain says it, even when it's just in print, it feels like some 'evil theme music' or some 'evil hypnotic device'... 'my friends... I often feel like I need to vomit.

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Every time he says "my friends," you just want to wipe the dung right off.

Just for fun, let's think about this. Gramm-Leach-Bliley. That would be the "deregulation" bill that passed the Senate 54-44 and the House 343-86. Let's see, who might have been some of the key Democrats for voted for the Conference Report on the final bill? That would be, Reid, Dodd, Biden, Durbin, and Kennedy. And who would have signed the bill, and did, as President. That would be William Jefferson Clinton. Who might have been the co-sponsor in 2005 of the Federal Housing Enterprise Regulatory Reform Act, which would have established much stricter oversight over Freddie and Fannie? Hmmm. That would be John MCCain. And what happened to that bill in the Semate Committee on Banking, Housing, and Urban Affairs? Dead. And who might have been the chair of that committee? Oh --- I give up. You can guess. And what did Senator Obama do during this time. You can guess that too. But he was taking a couple hundred thousand dollars in lobbying money from FFM, second only to Senator Dodd. And which senator selected to run his VP search committee one of the FFM executives who received multimillions in compensation while running FFM into the ground?? Oh... that would have been Senator Obama too.

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And who does Gramm work for now?

And what's the point? If you are placing blame, place it where it rightfully, and generally, belongs. Not where you selectively wish it to be.

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What's MY point? What's YOUR point? Blame you say? Lets talk blame.

That steaming pile of elephant dung you posted can basically be boiled down to this:


deregulation = bad;

There exists at least one instance of some Democrats supporting deregulation;

Obama = democrat;

Therefore: Obama = bad.

If we, just for fun, set aside the fact that your overriding implication about deregulation is bullshit (everyone hates regulation of things they care about; ask lefty regulation zealots how they feel about the War On Drugs) and we overlook your muddling through the oldest logical fallacy there is (A=B;B=C; therefore:A=C ) then I guess we could somehow assign some blame.

To both. EVEN THOUGH McCain didn't vote on it.

Lets put the GOP through the old legrange BLAMIFYER 2000 ™

deregulation = bad;
There exists at least one instance of some Republicans supporting deregulation;
McCain = Republican;

Therefore: McCain = bad.

OH NO. So much relativism! What's an informed voter to do?

Ah, fuck it. I think I'll just vote on Iraq.

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Huh. I guess my attempt at styling logic fucks with the tags in posts.

Oh well. At least I got the ™ symbol right.

I guess I should have just used the regular logic symbols.

∀ ∃ ∋ ≠

"Juvenile" is the word that comes to mind.

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"Ad Hominem" doesn't?

Touche

Reid, Dodd, Biden, Durbin, and Kennedy voted against the Gramm-Leach-Bliley bill itself:

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=106&session=1&vote=00105

The Conference Committee report is the key vote. That's the bill that finally passed and was signed into law.

Where are you finding a record of the committee votes? I don't even see that it was referred to committee. In any case, if your argument is that the Republicans and McCain have generally been on the side of regulating government and the banking and financial industries, you're wrong. One bill does not make a reformer, especially when McCain was such a cheerleader for Gramm-Leach-Bliley, which started all this mess in the first place.

I've done a little research about the composition of this committee at the time the Federal Housing Enterprise Regulatory Reform Act of 2005 was referred to it. Contrary to your assertions above, Dood was not the chairman then. Further, the committee was dominated by Republicans. Therefore, it wasn't the Democrats that "killed" the bill, as all the wingnut boards are claiming.

This was the makeup of the committee on July 28, 2005:

Republicans (11 total)

RICHARD C. SHELBY, Alabama, Chairman
ROBERT F. BENNETT, Utah
WAYNE ALLARD, Colorado
MICHAEL B. ENZI, Wyoming
CHUCK HAGEL, Nebraska
RICK SANTORUM, Pennsylvania
JIM BUNNING, Kentucky
MIKE CRAPO, Idaho
JOHN E. SUNUNU, New Hampshire
ELIZABETH DOLE, North Carolina
MEL MARTINEZ, Florida

Democrats (9 total)

PAUL S. SARBANES, Maryland
CHRISTOPHER J. DODD, Connecticut
TIM JOHNSON, South Dakota
JACK REED, Rhode Island
CHARLES E. SCHUMER, New York
EVAN BAYH, Indiana
THOMAS R. CARPER, Delaware
DEBBIE STABENOW, Michigan
JON S. CORZINE, New Jersey


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Don't waste your time.

He's saying that Democrats are to blame because they didn't pass enough regulation.

Where the hell does that leave Republicans then?

If Congress is going to create quasi-public/private entities like Freddie and Fannie, then absolutely there should be rigorous oversight. Whether it should have been created in the first place is another discussion and Republicans have steadfastly disappointed in their embrace of more extensive centralized government power. The point above was/is counter to the assertion that McCain cannot legitimately be seen as a "reformer". There are many things McCain is and is not - many which I disapprove of - but is reputation as a "good government" type is well-earned.

Your point is well-taken with respect to the chair of the Senate Committee. As to the status of the bill, it was "ordered to be reported with an amendment in the nature of a substitute favorably". The Congressional session apparently ended before the bill could be acted on, which meant the bill was cleared from the books. The remaining point, however, is that notwithstanding the narrow partisanship reflected in many comments here, cosponsored and supported federal legislation that would have increased oversight over Freddie and Fannie. Something that was badly needed, as is now abundantly clear. And the fact still also remains that Senator Obama (for change and politics of a new kind) was absent on efforts to support oversight and was second in line for lobbying contributions from FFM lobbyists.

Meant to say "McCain" cosponsored above.

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The remaining point, however, is that notwithstanding the narrow partisanship reflected in many comments here, [McCain] cosponsored and supported federal legislation that would have increased oversight over Freddie and Fannie.

Is this remaining point of yours sufficient reason to vote for Senator McCain?

Indeed not. There are other reasons why I would reluctantly vote for McCain.

Ask yourself how much oversight would have been required if the whole thing hadn't been deregulated by Republicans to begin with. The way I see it, McCain was just acting to clean up a mess he was partly responsible for (by voting for the Gram act).

"Deregulated by the Republicans". It sure looks to me that there were alot of hands in the pot - Democrats and Republicans. And it is a debatable point whether the Freddie and Fannie debacle, the Lehman bankruptcy, et al were the result of that deregulation as opposed to the lemming-like rush to grant sub-prime mortgages and financially manipulate same. Congress had a hand in that as well - at least opening the floodgates - to subprime mortgages and extending credit to those with limited means to repay the obligation. There is enough blame and responsibility to go 'round and 'round a couple of times. Those who want to hang this exclusivvely around the necks of Republicans desparately seek to evade reality.

Counter-punch: McCain's own contempt for workers.

"There are just some jobs Americans won't do."

Building and Construction trade workers are too lazy to pick lettuce in Arizona for $50 dollars an hour. Or maybe they are just too weak. Or stupid, or unproductive.

"You can't do it, my friends."

Roll video:
http://sensico.wordpress.com/2008/08/22/video-mccain-americans-wont-pick-lettuce-for-50hr/


How about realism and understanding? They work better than optimism in the face of economic crisis.

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Do not buy into the illusion that this, in and of itself, sinks McCain. His answering ad is simple, and direct, and full of shit only to those who know what the score really is.

There is an opportunity here, for Obama to seize, but he MUST SEIZE IT, with stump speeches and ads daily on the message that McCain is a johnny-come-lately to the cause of economic populism and contradicting everything he said as late as last week. A speech like Golden, every day from now to the election. Gramm must be pounded on.

Or this mini-bump in the polls will soon be erased.

McCain is more of a Hooverite than a Rooseveltite. As far as saying it's time to grow this economy, he may be saying those words, but he's thinking 'I have a buck to spend, now is the time to expand my holdings and grab some assets, on the cheap'.

McCain trying to assume the mantle of Franklin Roosevelt is ludicrous! For the last 40 years, Republicans have devoted themselves to dismantling FDR's legacy. McCain has no shame!

And FDR's legacy was a massive expansion of the power of government (much to the liking of most commenters here I suspect) and policies that exacerbated the Great Depression. That is a matter of historical record. That is, if you have the time and the intellectual integrity to move a step or two beyond the comforting myth.

McCain's capibilities regarding things economic, plus a buck three-nintyeight, will get you a blue plate special at K-Mart,,,,,,, if you can find a K-Mart still open.

This won't work any more than on "we think civil liberties need to be cut back for national security too, just not as much" worked for the Dems in 2002. If people want economic regulation, they're not voting Republican.

Also, I can't wait to see McTemper blow his lid when someone asks him if his plan is to sick Carly Fiorina on those corporate CEOs who ran their companies into the ground and then took massive buy-outs.

McCain jumped the shark. I think that McCain's attempts to explain away his comments that the "fundamentals of our economy are strong" are now the defining moments of this campaign and the moment that everyone will look back on and realize when McCain "jumped the shark". Trying to twist those words into his new meaning "The American worker and their innovation, their entrepreneurship, the small business, those are the fundamentals of America, and I think they're strong." Wow, what a turd. Only the most rabid GOPer would think "yup, that makes sense to me" even though no economist in his right mind would understand "fundamentals" to mean people.

Didn't he say later in the day that he thought the fundamentals were at risk? Was he saying that American workers were teetering on the brink of laziness?

I'd be optimistic too, if my wife was worth $100 million and owned an alcohol distributor: vice is recession proof.

RE: "the fundamentals are strong".

Were the fundamentals weak during the early 1930's depression? If yes, are you saying the American workers were the cause of the depression? If not (i.e. they were strong), then why did we have the depression for such a long time?

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