Free Republic

Gramm was right about the recession and stood by his recession comments on Thursday. A recession is two consecutive quarters in which the economy shrinks, and last quarter it grew. But no matter. Voters feel they are in a recession, and so they are, at least according to Campaign Econ.

BELLEVILLE, Mich. — Senator John McCain has spent the week trying to tell people that he feels their economic pain. So it was more than a little unhelpful when one of his top economic advisers was quoted Thursday as saying that the United States was only in a “mental recession” and that it had become a “nation of whiners.” The adviser, former Senator Phil Gramm, Republican of Texas, sought to clarify his remarks Thursday by saying he had been referring only to some of the nation’s leaders. But it was too late to keep from complicating things for Mr. McCain,...

McCain should throw it right back in Obama's face, he should say: Sen. Obama understands the power of perception to influence behaviors, I mean that's why he started using the Presidential Seal – even before he had the nomination. Or say: Obama knows a lot about perception, that's why he wants to speak at the Brandenberg Gate... Or whatever he can say without seeming to take too cheap a shot. If anybody from the McCain campaign is reading this, please, wake up! I wrote my college thesis on perceptions and how they impact economic expectations. And the eminent Martin Feldstein...

According to Phil Gramm, senior economic adviser to John McCain, the retirement age will have to be raised. Gramm told the Washington Times that a bipartisan deal might include raising the retirement age to 70 over 30 years, indexing the benefits of wealthier retirees to inflation rather than the more generous wage rate, and creating a private account program for younger workers. This means that if you are 40 and under, you will be working 5 years more than your parents did...

McCain slammed economic adviser Phil Gramm for his “mental recession” and “nation of whiners” comment. He said he didn’t agree with him and even proposed a position in a McCain administration -- ambassador to Belarus, “though I’m not sure the citizens of Minsk would welcome that,” McCain said. “I don’t agree with Sen. Gramm,” McCain said at a news conference this afternoon. “I believe that the person here in Michigan who just lost their job, isn’t suffering from a ‘mental recession.’ The mother here who is trying to get enough money to feed her children, isn’t ‘whining.’” “Phil Gramm doesn’t...

Gramm calls slowdown 'mental' By: Mike Allen July 10, 2008 10:01 AM EST Former senator Phil Gramm, a top economic adviser to Sen. John McCain (R-Ariz.), referred to the economic slowdown as "a mental recession," and referred to the United States as “a nation of whiners.” The comments, in an interview with The Washington Times, could hurt the campaign’s efforts to convince working-class Americans that McCain feels their pain. Democrats immediately condemned the remarks as “callous,” and quickly began working to gain widespread attention for them. The Democratic National Committee issued a statement titled: “Out of Touch Much, Phil.”

Drilling off the coast of California, Florida and elsewhere would increase domestic oil production by 7 percent by 2030, according to the Energy Information Administration. But “because oil prices are determined on the international market…any impact on average wellhead prices is expected to be insignificant.” There is no short-term benefit to drilling, says the EIA, because it would take at least five years for oil production to begin. (Source: Center for American Progress.)

       Terry Shoffner   "They didn't live up to what they promised to do. Power corrupted them. They spent lots of money and tried to buy votes. Republicans concluded that they could make voters love them by governing the way Democrats did." So says former Texas senator and current John McCain economics adviser Phil Gramm. When he rode off into the political sunset in 2002 for a high-rolling investment banking job at UBS, there was joy among many of his liberal colleagues on Capitol Hill. For two decades the man who came to be called "Dr. No" had earned...

In Washington speculation, Phil Gramm, the former Texas senator, gets increasing attention as a potential successor to Treasury Secretary John Snow. The thinking is that previous secretaries and other candidates have either too much politics and not enough economics or too much economics and not enough politics. His assets: Credibility on Capitol Hill, strong on substance, good communicator, private sector experience at UBS. His liabilities: A reputation for being an independent thinker in an administration that wants an implementer rather than a policymaker. Gramm — who, like Snow, has a Ph.D. in economics — taught economics at Texas A&M University...

Blame GOP Malaise on Bush's Team by Robert Novak Posted Feb 19, 2006 When Dick Cheney finally broke his silence by answering questions from Fox's Brit Hume last Wednesday, four days after the hunting accident, many Republicans could hardly believe it. They were stunned that the vice president indicated he had no regrets about the way the incident was handled. Every Republican I contacted had regrets in abundance. Bush-bashers delighted in exaggerating Cheney's post-accident conduct as a metaphor for everything wrong with George W. Bush's presidency in its sixth year. Nevertheless, there are supporters of the president (and the vice...

With Treasury Secretary John Snow's continuation in office uncertain, the White House is seriously considering former Sen. Phil Gramm of Texas as his possible successor. President Bush has never been an intimate of Gramm's, and did not think of him for Treasury four years ago when he made the disastrous choice of industrialist Paul O'Neill. However, according to sources close to the president, he is giving his fellow Texan a serious look this time. Gramm is now an investment banker. Snow at the Treasury has been a hard worker who loyally presses the Bush program. However, there are complaints inside...

Deep in the heart of Texas a helluva good House race By CRAGG HINES Copyright 2004 Houston Chronicle COLLEGE STATION — At last we come to the final act of Tom DeLay's passion play — his long-planned martyrdom, by redistricting, for a handful of U.S. House Democrats from Texas. They have defied him, so now they must prepare to meet their fate. It's the Alamo, with DeLay as Santa Anna. And so to Aggieland, at the southern end of the newly drawn 17th District, where Rep. Chet Edwards, D-Waco, a moderate seven-term Democrat, is fighting for his political life against...

Bonilla’s ‘Dream’ fails to meet goal By Dan Morgan The Washington Post WASHINGTON -- When Rep. Henry Bonilla, R-Texas, took charge of an independent political fund called American Dream PAC in 1999, he made clear that its mission was ”to give significant, direct financial assistance to first-rate minority GOP candidates.” Since then, only $48,750, or 8.9 percent, of the $547,000 the southwest Texas congressman has raised for his political action committee has gone to minority office-seekers while more than $100,000 has been routed to Republican Party organizations or causes, including a GOP redistricting effort in Texas, a legal defense fund...

I thought I heard the local network talking head say today that Phil Gramm had announced he will be challenging Bush for the Republican nomination in 2004. I can't find any mention of this anywhere on FR,so I'm asking if any of you have heard this too? I really wasn't paying any attention to what was going on,so I could have heard this out of context. The news reader COULD have said there were rumors this would happen,and I misunderstood him.

Cornyn takes Gramm's post, starting days on Capitol Hill Ex-Texas AG gets head start establishing new role as senator 12/03/2002 By ROBERT DODGE / The Dallas Morning News WASHINGTON - John Cornyn swapped jobs Monday, leaving his post as Texas attorney general to become the state's junior U.S. senator. The Republican was officially sworn into office Monday. For the next month, he will serve out the remaining term of former Sen. Phil Gramm, who resigned Nov. 30. "It is pretty unbelievable. I am pinching myself," Mr. Cornyn told reporters after taking the oath of office. He will be sworn...

NEW YORK (Reuters) - U.S. Senator Phil Gramm (R-Tex.) will soon become vice chairman of UBS Warburg, the investment banking arm of Switzerland's biggest bank, UBS Warburg said Monday. Gramm, who will take up the private sector post when his Senate term ends later this year, follows a well trodden path of key legislators who join top Wall Street firms. Gramm has been in Congress for 24 years, and co-authored far reaching legislation in 1999 that repealed a prohibition on companies offering banking, brokerage and insurance operations under one roof. Gramm will split his time between Washington, D.C. and New...

Retiring Republican Sen. Phil Gramm on Friday fired off a powerful response to the Democrat who wants his job, deflecting Ron Kirk's assertion that a radio ad featuring the senator lied about Kirk's record. At a campaign stop in Dallas on Thursday, Kirk said that the radio commercials wrongly accuse him of wavering in his position on President Bush's tax cuts. "At some point the truth ought to be an option," Kirk said, adding that Gramm's statements were "patently untrue." Gramm, who backs Republican John Cornyn to fill his seat, responded Friday in a statement: "It's pitiful when a man...

Kirk blasts Gramm Candidate says senator 'AWOL' during Enron crisis; aide disagrees 08/30/2002 By GROMER JEFFERS JR. / The Dallas Morning News Democrat Ron Kirk lashed out Thursday at the man whose job he wants, Sen. Phil Gramm, saying he has been in hiding during the Enron crisis. And Mr. Kirk said Republican rival John Cornyn was using the outgoing senator in a scheme to funnel state campaign money into the federal contest. "Phil Gramm has been AWOL for the last 24 months," Mr. Kirk said after pitching an education plan with students and teachers at Southern Methodist University....

Gramm blasts Kirk as Bush tax-cut foe Democrat's campaign says GOP 'attack' ad is no surprise, misleading 08/20/2002 By GROMER JEFFERS JR. / The Dallas Morning News In his first foray into the Senate race since the state Republican Convention in June, Sen. Phil Gramm uses a radio commercial to confront Democratic Ron Kirk for his criticism of the Bush-administration-backed trillion-dollar tax cut. "Ron Kirk says, quote 'We have to question whether it makes sense to give away money,' " Mr. Gramm said. "That's funny, Ron Kirk must think it's the government's money. President Bush and I know it's...

Red, white, blue and elephant hats Molly Ivins DALLAS - The world will little note nor long remember what was said at the Republican state convention last weekend. Nevertheless, the shindig had its moments. (I first saw the Lincoln quote applied to some political event in The Boston Globe a while back, but I can no longer remember who wrote it.)A supremely nostalgic moment occurred during the convention's recognition of Sen. Phil Gramm for Lifetime Achievement.Gramm responded graciously, as befits a retiring pol making his final appearance, thanking all and sundry, giving us his fondest memories of public service: "I...