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.
How many spending bills has he vetoed.
Reagan was a politician. Bushes were politicians... They didn’t run as liberals. Blasting the folks on the right.
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.
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...
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.
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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.
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.
You’re the dolt if you don’t even know the definition of a recession... Idiot
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.
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
Let’s not forgot a president that signs every spending bill and asks for more.
Show us where he's blamed the common man.
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.
Agreed....those remarks make me VERY un-easy as well!
“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.
Perhaps MOONBAT would have been a more appropriate screen name for you?
“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.
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
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