McCain: Clueless on Fixing the Economy

While the stock markets hit the bottom, John McCain is completely clueless. While unemployment increases across the country, John McCain repeats the empty words.

However, we know a little about McCain's approach to economics: deregulation and ignorance.

McCain: ‘I Don’t Claim to Be Smart Enough’ to Offer Solution to Mortgage Crisis. “I know that [Treasury Secretary Henry] Paulson, those people are working. I know that the FHA is working and the other alphabet soup organizations. But I don’t know how bad it’s gonna get, and obviously the worse it gets then the more there is a role for government. But I can’t come down yet and give you a specific solution because I don’t claim to be smart enough….I’d love to give you a solution, but I don’t know.” (Keene Sentinel Editorial Board Meeting, 12/4/07) (Source)

NY Times:

....In early 1995, after Republicans had taken control of Congress, Mr. McCain promoted a moratorium on federal regulations of all kinds. He was quoted as saying that excessive regulations were “destroying the American family, the American dream” and voters “want these regulations stopped.” The moratorium measure was unsuccessful.

“I’m always for less regulation,” he told The Wall Street Journal last March, “but I am aware of the view that there is a need for government oversight” in situations like the subprime lending crisis, the problem that has cascaded through Wall Street this year. He concluded, “but I am fundamentally a deregulator.”

Later that month, he gave a speech on the housing crisis in which he called for less regulation, saying, “Our financial market approach should include encouraging increased capital in financial institutions by removing regulatory, accounting and tax impediments to raising capital.”

(^above also posted at Daily Kos ^)

>>>Think Progress has more about McCain's ignorance about the economy:

Sen. John McCain (R-AZ) demonstrated again today that he was telling the truth about not knowing much about the economy. For a man concerned about protecting the average American from Wall Street greed, he seemed not to know who plays what role.

During a speech today in Tampa, FL, McCain repeatedly referred to the Securities Investor Protection Corporation, the corporation that “return[s] customers’ cash, stock and other securities” if a brokerage goes bankrupt, and is known as the SIPC — as S-P-I-C.... (You Tube)

If John McCain is elected, we will never be able to retire.

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On the Stephanie Miller Show, Stephanie and the "Mooks" encouraged listeners to call in to "apply" for various offices within a McCain-Palin administration. (Background: Since Palin's claim to fame is that she thinks she is qualified in foreign affairs because Alaska is close to Russia, the radio show has poked fun at her lack of qualifications and vetting. Also, Stephanie and the "Mooks" call Palin "Caribou Barbie.")

Yesterday, listeners gave their qualifications for various posts within the McCain-Palin administration (One listener ate Chinese food and wanted to be the Ambassador to China.) It was hilarious and it continues today.