• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Out of touch?

fff

Well-known member
With the economy on the top of voters' minds, Republican presidential candidate John McCain's top economic adviser said the Arizona senator will lay down a detailed program to revive dynamic growth with dramatic tax and spending reforms.

In an interview with the Washington Times, Phil Gramm, a former Texas senator who is now vice chairman of UBS, the giant Swiss bank, said he expects Mr. McCain to inherit a sluggish economy if he wins the presidency, weighed down above all by the conviction of many Americans that economic conditions are the worst in two or three decades and that America is in decline.

"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.

"We've never been more dominant; we've never had more natural advantages than we have today," he said. "We have benefited greatly" from the globalization of the economy in the last 30 years.

Mr. Gramm said the constant drubbing of the media on the economy's problems is one reason people have lost confidence. Various surveys show that consumer confidence has fallen precipitously this year to the lowest levels in two to three decades, with most analysts attributing that to record high gasoline prices over $4 a gallon and big drops in the value of homes, which are consumers' biggest assets.

"Misery sells newspapers," Mr. Gramm said. "Thank God the economy is not as bad as you read in the newspaper every day."

Mr. McCain's economic program will seek to enliven growth by enabling taxpayers to opt into a new, simplified tax system with two low rates of 10 percent and 25 percent and no itemized deductions, he said.

Mr. McCain would tackle intransigent budget deficits by wrestling down burgeoning benefits programs and aggressively attacking wasteful spending whether it's in the Pentagon's procurement and weapons budget or congressional pork-barrel bills, he said.

A proven "instrument" of bipartisan reform and change in many areas, Mr. McCain would seek out Democratic leaders like Senate Majority Leader Harry Reid of Nevada to fashion a bipartisan reform of Social Security.

Mr. Gramm said 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.

Mr. McCain, a Republican with a proven record of voting for spending cuts, will renew efforts to balance the budget through spending reforms, he said. "It will be popular with the public but hated in Washington."

Mr. McCain also will pursue immigration reforms that would start with effective border enforcement but include a possible doubling of legal immigration, including no limits on scientific and technical workers and a generous sized guest worker program, he said.

"The American story is a story of immigration," he said. "I would be the last person who would say immigrants are not important to America." Mr. Gramm noted that Albert Einstein was one prominent immigrant who might have been excluded under an anti-immigration regime.

http://www.washtimes.com/news/2008/jul/09/mccain-adviser-addresses-mental-recession/

Dad blame those pesky newspapers who keep reporting:

The Dow fell 236 points to 11,147.

The S&P 500 dropped 29 points to 1,244.

The Nasdaq composite lost shed than 2.5% of its value, losing nearly 60 points to 2,234.

Declining issues led advancers by a 2 to 1 margin.

http://www.ktvz.com/Global/story.asp?S=8649279

And today we know that home forclosure filings are up 53% compared to this time last year. Yep, obviously all in our mind. :roll:

http://news.yahoo.com/s/nm/20080710/bs_nm/usa_mortgages_foreclosures_dc

I think this guy has no idea how the average American is getting buy these days. I'm glad to see him out there promoting McCain's campaign. :D
 

TSR

Well-known member
fff said:
With the economy on the top of voters' minds, Republican presidential candidate John McCain's top economic adviser said the Arizona senator will lay down a detailed program to revive dynamic growth with dramatic tax and spending reforms.

In an interview with the Washington Times, Phil Gramm, a former Texas senator who is now vice chairman of UBS, the giant Swiss bank, said he expects Mr. McCain to inherit a sluggish economy if he wins the presidency, weighed down above all by the conviction of many Americans that economic conditions are the worst in two or three decades and that America is in decline.

"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.

"We've never been more dominant; we've never had more natural advantages than we have today," he said. "We have benefited greatly" from the globalization of the economy in the last 30 years.

Mr. Gramm said the constant drubbing of the media on the economy's problems is one reason people have lost confidence. Various surveys show that consumer confidence has fallen precipitously this year to the lowest levels in two to three decades, with most analysts attributing that to record high gasoline prices over $4 a gallon and big drops in the value of homes, which are consumers' biggest assets.

"Misery sells newspapers," Mr. Gramm said. "Thank God the economy is not as bad as you read in the newspaper every day."

Mr. McCain's economic program will seek to enliven growth by enabling taxpayers to opt into a new, simplified tax system with two low rates of 10 percent and 25 percent and no itemized deductions, he said.

Mr. McCain would tackle intransigent budget deficits by wrestling down burgeoning benefits programs and aggressively attacking wasteful spending whether it's in the Pentagon's procurement and weapons budget or congressional pork-barrel bills, he said.

A proven "instrument" of bipartisan reform and change in many areas, Mr. McCain would seek out Democratic leaders like Senate Majority Leader Harry Reid of Nevada to fashion a bipartisan reform of Social Security.

Mr. Gramm said 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.

Mr. McCain, a Republican with a proven record of voting for spending cuts, will renew efforts to balance the budget through spending reforms, he said. "It will be popular with the public but hated in Washington."

Mr. McCain also will pursue immigration reforms that would start with effective border enforcement but include a possible doubling of legal immigration, including no limits on scientific and technical workers and a generous sized guest worker program, he said.

"The American story is a story of immigration," he said. "I would be the last person who would say immigrants are not important to America." Mr. Gramm noted that Albert Einstein was one prominent immigrant who might have been excluded under an anti-immigration regime.

http://www.washtimes.com/news/2008/jul/09/mccain-adviser-addresses-mental-recession/

Dad blame those pesky newspapers who keep reporting:

The Dow fell 236 points to 11,147.

The S&P 500 dropped 29 points to 1,244.

The Nasdaq composite lost shed than 2.5% of its value, losing nearly 60 points to 2,234.

Declining issues led advancers by a 2 to 1 margin.

http://www.ktvz.com/Global/story.asp?S=8649279

And today we know that home forclosure filings are up 53% compared to this time last year. Yep, obviously all in our mind. :roll:

http://news.yahoo.com/s/nm/20080710/bs_nm/usa_mortgages_foreclosures_dc

I think this guy has no idea how the average American is getting buy these days. I'm glad to see him out there promoting McCain's campaign. :D

None of our so called leaders want to acknowledge already existing laws with respect to immigration do they?? :mad: This is why I just can't bring myself at the present time to vote for any of them.
 
A

Anonymous

Guest
TSR said:
fff said:
With the economy on the top of voters' minds, Republican presidential candidate John McCain's top economic adviser said the Arizona senator will lay down a detailed program to revive dynamic growth with dramatic tax and spending reforms.

In an interview with the Washington Times, Phil Gramm, a former Texas senator who is now vice chairman of UBS, the giant Swiss bank, said he expects Mr. McCain to inherit a sluggish economy if he wins the presidency, weighed down above all by the conviction of many Americans that economic conditions are the worst in two or three decades and that America is in decline.

"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.

"We've never been more dominant; we've never had more natural advantages than we have today," he said. "We have benefited greatly" from the globalization of the economy in the last 30 years.

Mr. Gramm said the constant drubbing of the media on the economy's problems is one reason people have lost confidence. Various surveys show that consumer confidence has fallen precipitously this year to the lowest levels in two to three decades, with most analysts attributing that to record high gasoline prices over $4 a gallon and big drops in the value of homes, which are consumers' biggest assets.

"Misery sells newspapers," Mr. Gramm said. "Thank God the economy is not as bad as you read in the newspaper every day."

Mr. McCain's economic program will seek to enliven growth by enabling taxpayers to opt into a new, simplified tax system with two low rates of 10 percent and 25 percent and no itemized deductions, he said.

Mr. McCain would tackle intransigent budget deficits by wrestling down burgeoning benefits programs and aggressively attacking wasteful spending whether it's in the Pentagon's procurement and weapons budget or congressional pork-barrel bills, he said.

A proven "instrument" of bipartisan reform and change in many areas, Mr. McCain would seek out Democratic leaders like Senate Majority Leader Harry Reid of Nevada to fashion a bipartisan reform of Social Security.

Mr. Gramm said 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.

Mr. McCain, a Republican with a proven record of voting for spending cuts, will renew efforts to balance the budget through spending reforms, he said. "It will be popular with the public but hated in Washington."

Mr. McCain also will pursue immigration reforms that would start with effective border enforcement but include a possible doubling of legal immigration, including no limits on scientific and technical workers and a generous sized guest worker program, he said.

"The American story is a story of immigration," he said. "I would be the last person who would say immigrants are not important to America." Mr. Gramm noted that Albert Einstein was one prominent immigrant who might have been excluded under an anti-immigration regime.

http://www.washtimes.com/news/2008/jul/09/mccain-adviser-addresses-mental-recession/

Dad blame those pesky newspapers who keep reporting:

The Dow fell 236 points to 11,147.

The S&P 500 dropped 29 points to 1,244.

The Nasdaq composite lost shed than 2.5% of its value, losing nearly 60 points to 2,234.

Declining issues led advancers by a 2 to 1 margin.

http://www.ktvz.com/Global/story.asp?S=8649279

And today we know that home forclosure filings are up 53% compared to this time last year. Yep, obviously all in our mind. :roll:

http://news.yahoo.com/s/nm/20080710/bs_nm/usa_mortgages_foreclosures_dc

I think this guy has no idea how the average American is getting buy these days. I'm glad to see him out there promoting McCain's campaign. :D

None of our so called leaders want to acknowledge already existing laws with respect to immigration do they?? :mad: This is why I just can't bring myself at the present time to vote for any of them.

Yep- that ones tossed out the door- amnesty is pretty much a lost cause... :(

"You've heard of mental depression; this is a mental recession,"

"We have sort of become a nation of whiners,"

McSame is really having to back water and trying to distance himself from his economic advisor today on those comments...Isn't flying well with all the folks getting laid off- or sitting with stagnated/deflated wages - or those working class McSame was trying to grab...No matter how much Gramm wants to cheer the economy- you aren't going to convince the average guy on the street that its good.....

I can't believe McSame hasn't gotten rid of Phil Gramm as his head economic advisor long ago...His name is so connected to corruption, fraud, scandal, and screwing the public that it can't be helping him :???: ...

Sure makes you wonder who McCain would bring into his cabinet - since the scuttlebutt says Gramm is going to be one of those cabinet members if elected...
The "get drunk and vote 4 McCain" website http://getdrunkandvote4mccain.com/ is calling this a 4 martini screwup.... :wink: :lol:
 

aplusmnt

Well-known member
fff said:
And today we know that home forclosure filings are up 53% compared to this time last year. :roll:

Yea it is a Shame that in 1999 Clinton repealed the Glass-Steagall Act of 1933. Clinton allowed the mixing of commercial and investment banking. But what would you expect when Clinton hired Robert Rubin as his Secretary of Treasure who shortly after pushing for repealing the Glass-Steagall Act went to work for Citigroup
 

fff

Well-known member
aplusmnt said:
fff said:
And today we know that home forclosure filings are up 53% compared to this time last year. :roll:

Yea it is a Shame that in 1999 Clinton repealed the Glass-Steagall Act of 1933. Clinton allowed the mixing of commercial and investment banking. But what would you expect when Clinton hired Robert Rubin as his Secretary of Treasure who shortly after pushing for repealing the Glass-Steagall Act went to work for Citigroup

All by himself Clinton repealed the law? I don't think so. It seems like there was an Republican Congress involved. Here's an actual history of the law and who worked to repeal it.

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html
 

Texan

Well-known member
Oldtimer said:
"You've heard of mental depression; this is a mental recession,"

"We have sort of become a nation of whiners,"

McSame is really having to back water and trying to distance himself from his economic advisor today on those comments...Isn't flying well with all the folks getting laid off- or sitting with stagnated/deflated wages - or those working class McSame was trying to grab...No matter how much Gramm wants to cheer the economy- you aren't going to convince the average guy on the street that its good.....

I can't believe McSame hasn't gotten rid of Phil Gramm as his head economic advisor long ago...His name is so connected to corruption, fraud, scandal, and screwing the public that it can't be helping him :???: ...

Sure makes you wonder who McCain would bring into his cabinet - since the scuttlebutt says Gramm is going to be one of those cabinet members if elected...
The "get drunk and vote 4 McCain" website http://getdrunkandvote4mccain.com/ is calling this a 4 martini screwup.... :wink: :lol:

You libs just can't stand it when somebody tells it like it is, can you? We're technically NOT in a recession and we HAVE become a nation of whiners.

Some of you libs here demonstrate the whiner truth every day. ALL day, every day. Truth hurts, huh? :lol:
 

aplusmnt

Well-known member
fff said:
aplusmnt said:
fff said:
And today we know that home forclosure filings are up 53% compared to this time last year. :roll:

Yea it is a Shame that in 1999 Clinton repealed the Glass-Steagall Act of 1933. Clinton allowed the mixing of commercial and investment banking. But what would you expect when Clinton hired Robert Rubin as his Secretary of Treasure who shortly after pushing for repealing the Glass-Steagall Act went to work for Citigroup

All by himself Clinton repealed the law? I don't think so. It seems like there was an Republican Congress involved. Here's an actual history of the law and who worked to repeal it.

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

If this would have been Bush in charge you would believe the Buck stopped there. Just another example of how you will not accept any thing that is not far left generated!

Clinton signed legislation that was the biggest factor in the cause of the subprime mess that you now blame Bush for!

Own it! Accept it!

You are so clueless, here is more proof that some times it is the past president that caused the problems for the current one!


After 12 attempts in 25 years, Congress finally repeals Glass-Steagall, rewarding financial companies for more than 20 years and $300 million worth of lobbying efforts. Supporters hail the change as the long-overdue demise of a Depression-era relic.

On Oct. 21, with the House-Senate conference committee deadlocked after marathon negotiations, the main sticking point is partisan bickering over the bill's effect on the Community Reinvestment Act, which sets rules for lending to poor communities. Sandy Weill calls President Clinton in the evening to try to break the deadlock after Senator Phil Gramm, chairman of the Banking Committee, warned Citigroup lobbyist Roger Levy that Weill has to get White House moving on the bill or he would shut down the House-Senate conference. Serious negotiations resume, and a deal is announced at 2:45 a.m. on Oct. 22. Whether Weill made any difference in precipitating a deal is unclear.

On Oct. 22, Weill and John Reed issue a statement congratulating Congress and President Clinton, including 19 administration officials and lawmakers by name. The House and Senate approve a final version of the bill on Nov. 4, and Clinton signs it into law later that month.

Just days after the administration (including the Treasury Department) agrees to support the repeal, Treasury Secretary Robert Rubin, the former co-chairman of a major Wall Street investment bank, Goldman Sachs, raises eyebrows by accepting a top job at Citigroup as Weill's chief lieutenant. The previous year, Weill had called Secretary Rubin to give him advance notice of the upcoming merger announcement. When Weill told Rubin he had some important news, the secretary reportedly quipped, "You're buying the government?"
 
Top