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McCain says he believes U.S. is in a recession (Gives into MSM Doom and Gloom - DOLT alert!)
The Hill ^ | 4/14/08 | Klaus Marre

Posted on 04/14/2008 1:02:48 PM PDT by NYC Republican

Sen. John McCain (R-Ariz.) said Monday that he believes the country is in a recession, adding that “these are very, very tough times in America.”

“Americans are hurting today,” McCain said at an Associated Press forum in Washington, D.C. “They’re hurting in the towns and cities across America. They’re sitting around the kitchen table, saying, ‘Are we going to be able to make our home loan mortgage payments? Are we going to be able to -- do I have to try to get a second job? Can I keep my job? Why was I laid off?’”

While McCain, the presumptive Republican presidential nominee, said he thinks the country is in a recession, he noted that he is more worried about helping people who are facing “enormous challenges,” rather than figuring out what the technical definition of a recession is.

The senator indicated that both Congress and President Bush are partly responsible for the situation, but argued that others are also playing a role.

“I think that there’s plenty of that blame to go around, including very greedy people that happen to be in Wall Street today ... like the CEO of Bear Stearns who decided the day before he was bailed out by the federal government to cash in millions of dollar's worth of stock,” he stated, adding that there needs to be “a lot more accountability” on Wall Street.


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: 2008; economy; mccain; recession
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To: misterrob

How many spending bills has he vetoed.


21 posted on 04/14/2008 1:17:47 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Names Ash Housewares

Reagan was a politician. Bushes were politicians... They didn’t run as liberals. Blasting the folks on the right.


22 posted on 04/14/2008 1:18:22 PM PDT by NYC Republican (John McCain- Snatching Defeat from the Jaws of Victory...)
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To: what's up
Actually, the economy has been cranking for years under W.

The economic expansion was unhealthy. Other than an oil and commodity bubble, a real estate bubble, and a government contractor bubble, there wasn't much doing well. The Nasdaq is still below where it was when he took office and it had already undergone a steep correction by 2001.

The only bright spot during W's tenure was the tax cut authored by former congressman Bill Thomas in 1983.

23 posted on 04/14/2008 1:21:53 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: misterrob
When the CEO of Bear Stearns dumps his shares or hedge funds melt down while the investors get screwed something is wrong

You're as devoid of knowledge here as JM... You're clueless here... If the CEO did that, he's be investigated and arrested... Do you have proof of that?

As far as the Hedge Funds, there are over 7,000 globally, many-fold higher than just a couple of years ago... Do you really think that they should be immune to losing money? Over the past few years, a GREAT majority have been highly profitable...

24 posted on 04/14/2008 1:21:56 PM PDT by NYC Republican (John McCain- Snatching Defeat from the Jaws of Victory...)
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To: NYC Republican
you are the dolt.

we have been heading into a recession since august 2007 - the fed has been trying to stave it off, but the damage to institutional trust has been immense (trust between banks, not trust between banks and ignorant J6P such as youself), all due to wall street's hiding of worthless nothing-down mortgages in with legitamate AAA assets, is finally starting the take its toll on liquidity and solvency.

wake up. sometimes a recession really is a recession.

the heads of the ratings services that allowed tranching of AAA securities should be lined up against the wall and shot as an example - they have poisoned the global economy and it may be fatal.

25 posted on 04/14/2008 1:21:57 PM PDT by chilepepper (The map is not the territory -- Alfred Korzybski)
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To: HappyinAZ
"Not a dolt"

Dolt. BIG DOLT!


26 posted on 04/14/2008 1:22:03 PM PDT by I see my hands (_8(|)
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To: crusty old prospector; NYC Republican
What a goober. Or as Daffy Duck would say, “What a maroon.”

Yes, you are right!

John McCain is a "maroon"!
27 posted on 04/14/2008 1:22:09 PM PDT by SoConPubbie (GOP: If you reward bad behavior all you get is more bad behavior.)
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To: NYC Republican
It's defined as 2 quarters of negative growth, we haven't had one yet...

That's a backward-looking yardstick - in other words, the recession has to be six months old before anyone officially admits it is happening. ;)

Very bad structural problems are starting to impact the US economy right now. The road back to health will take years. It's OK for McCain to acknowledge that.

The Clinton era redefined the President as the National Talk Show Host - so to get elected and govern effectively in these times you have to find out what the public is thinking and empathize with them. McCain is already far ahead of GWB in that regard.

28 posted on 04/14/2008 1:22:46 PM PDT by Mr. Jeeves ("Wise men don't need to debate; men who need to debate are not wise." -- Tao Te Ching)
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To: Moonman62

How many taxes did her cut?

I am no fan of Jorge around a lot of things but anytime you try to even reduce entitlement spending from 8% to 4% increase it is painted as him having cut benefits in half.


29 posted on 04/14/2008 1:22:58 PM PDT by misterrob (Obama-Does America Need Another Jimmy Carter?)
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To: chilepepper

You’re the dolt if you don’t even know the definition of a recession... Idiot


30 posted on 04/14/2008 1:23:14 PM PDT by NYC Republican (John McCain- Snatching Defeat from the Jaws of Victory...)
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To: misterrob
population that behaves foolishly.

It's funny how Americans weren't nearly as foolish when Reagan was president.

But it's typical of W and his followers not to accept responsibility for W's incompetence and blame everybody else, especially the common American.

31 posted on 04/14/2008 1:23:55 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: Mr. Jeeves

Like I said, it’s a PREDICTION... No reason for McCain to be making predictions... Serves no purpose, except to try and kowtow to libs


32 posted on 04/14/2008 1:24:06 PM PDT by NYC Republican (John McCain- Snatching Defeat from the Jaws of Victory...)
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To: misterrob

Let’s not forgot a president that signs every spending bill and asks for more.


33 posted on 04/14/2008 1:24:48 PM PDT by stevio (Crunchy Con - God, guns, guts, and organically grown crunchy nuts.)
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To: Moonman62
W's incompetence and blame everybody else, especially the common American

Show us where he's blamed the common man.

34 posted on 04/14/2008 1:26:33 PM PDT by NYC Republican (John McCain- Snatching Defeat from the Jaws of Victory...)
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To: misterrob

The only tax cut that helped the economy was the one authored by Bill Thomas in 1983. His one time rebate scheme is nothing more than a plan by incumbents to buy votes. It won’t encourage investment nor will it encourage businesses to hire more people. The fact that W is willing to do this scam twice (he did it early in his first term and it didn’t work) is a testament to how bad he is.


35 posted on 04/14/2008 1:27:02 PM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
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To: MBB1984

Agreed....those remarks make me VERY un-easy as well!


36 posted on 04/14/2008 1:27:02 PM PDT by HappyinAZ
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To: Mr. Jeeves

“That’s a backward-looking yardstick - in other words, the recession has to be six months old before anyone officially admits it is happening. ;)”

That was his point, it’s a little premature to say we’re in one wouldn’t you say? We may end up having a quarter of negative growth at 3/31, but then positive by 6/30...who knows?

Besides with the MSM cheerleading and political grandstanding going on, it’s a snowball effect on people’s minds.

All in all, I suppose it’s a safe thing to say on McCain’s part...no one will remember when you predict rain and the sun comes out. It’s the other way around that gets weathermen fired.


37 posted on 04/14/2008 1:29:24 PM PDT by Slapshot68
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To: Moonman62
The only tax cut that helped the economy was the one authored by Bill Thomas in 1983

Perhaps MOONBAT would have been a more appropriate screen name for you?

38 posted on 04/14/2008 1:29:40 PM PDT by NYC Republican (John McCain- Snatching Defeat from the Jaws of Victory...)
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To: Moonman62

“But it’s typical of W and his followers not to accept responsibility for W’s incompetence and blame everybody else, especially the common American. “

I’m not defending Bush’s fiscal irresponsibility but you seem to be blaming him for the recession, which is completely off the mark.


39 posted on 04/14/2008 1:30:36 PM PDT by Slapshot68
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To: Slapshot68

President Pleased by House Passage of the “Expanding American Homeownership Act of 2006”
http://www.whitehouse.gov/news/releases/2006/07/20060726.html

‘We are here in Washington, D.C. to address problems. So I’ve set this goal for the country. We want 5.5 million more homeowners by 2010 — million more minority homeowners by 2010. (Applause.) Five-and-a-half million families by 2010 will own a home. That is our goal. It is a realistic goal. But it’s going to mean we’re going to have to work hard to achieve the goal, all of us. And by all of us, I mean not only the federal government, but the private sector, as well.’
http://www.whitehouse.gov/news/releases/2002/06/20020618-1.html

Welcome to the League of Central Planners.


40 posted on 04/14/2008 1:30:47 PM PDT by BGHater (It's easy to be brave from a distance.)
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