CommunityFDL Main Blog

McCain’s Cronies: Phil Gramm Says Economic Difficulties “Mental Recession”

McCain’s Economic Crony Phil "Foreclosure" Gramm (R-Enron) wants you to know that the economic pain you may think you are feeling is all in your head. To wit:

"You’ve heard of mental depression; this is a mental recession," he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. "We may have a recession; we haven’t had one yet."

"We have sort of become a nation of whiners," he said. "You just hear this constant whining, complaining about a loss of competitiveness, America in decline" despite a major export boom that is the primary reason that growth continues in the economy, he said….

Yep, those high gas prices, increased energy costs, skyrocketing food prices and shortages worldwide, and all the resulting belt-tightening? It’s just mental according to Foreclosure Phil, because of that whopping 1 percent jiggered, anemic growth rate he touts. Oh, boo yah, what…a…success.  Of course, McCain’s been saving his pennies by having the media buy his donuts, so he thinks your economic woes are all in your head, too. (YouTube)

Having trouble making ends meet, even when you and your spouse are working two jobs each?  You are just a whiner.  Isn’t that nice to know?  Thanks, Phil! 

Must be one sweet vantage point behind wife Wendy’s Enron golden parachute, eh, Phil? Compassionate conservative, my ass. Wonder how that "it’s all in your head" attitude is going to go over in Ohio:

A third of Ohioans are unable to afford food, housing, clothes and other necessities. That’s 3.4 million people in households earning no more than 200 percent of the federal poverty level — $42,400 a year for a family of four — and a level economists say is necessary to cover basic needs.

Less than a decade ago, one in four was in the same boat.

With a tight state budget and projected revenue shortfall, Landsman and others on the panel cautioned that costly solutions are not viable options, at least in the short term….

During a two-hour meeting, the panel had little trouble outlining some of the problems facing Ohio families: the cost of living growing faster than wages; an expanding class of working poor; too many students dropping out of school; not enough summer jobs for teens; increasing home foreclosures; a growing immigration population; and unprecedented numbers of grandparents raising children.

And what to do? Many on the panel said federal poverty standards must change to reflect the reality that it takes twice the government-set income level to get by….

Hmmm…less than a decade ago it was one in four families. Let’s see…and McCain’s economic policies would be just like a third Bush term? I guess if we see problems in them, it’s all in our head, too. Gosh, that was easy!

But it ain’t all bad — as Brad says, "let them eat cake!" has an awesome ring to it! Of course, Gramm’s just following McCain’s lead — or is it the other way around? It’s so hard to tell, given the number of moneyed lobbyists riding around on the Sweet Talk Express with McCain’s ear these days. All the policy money can buy.

Guess some folks — the lucky few anyway — can take that to the bank.

UPDATE:  cbl2 with the snark of the day:  "Paxil Americana."  I so wish I’d thought of that for the post title.  Genius. 

Previous post

We're At The War's End

Next post

White House Confirms: Rove's "Official Duties" Included Witchhunts of Democrats

Christy Hardin Smith

Christy Hardin Smith

Christy is a "recovering" attorney, who earned her undergraduate degree at Smith College, in American Studies and Government, concentrating in American Foreign Policy. She then went on to graduate studies at the University of Pennsylvania in the field of political science and international relations/security studies, before attending law school at the College of Law at West Virginia University, where she was Associate Editor of the Law Review. Christy was a partner in her own firm for several years, where she practiced in a number of areas including criminal defense, child abuse and neglect representation, domestic law, civil litigation, and she was an attorney for a small municipality, before switching hats to become a state prosecutor. Christy has extensive trial experience, and has worked for years both in and out of the court system to improve the lives of at risk children.

Email: reddhedd AT firedoglake DOT com

93 Comments