Phil Gramm: Economy Okay, We’re Just “Mental” “Whiners”
Phil Gramm, whose deregulatory banking policies led to the economic turmoil we’re now experiencing says what we’re going through is a “mental recession” because we’re “a nation of whiners.” Gramm is a top economic advisor to John McCain, but the McCain campaign is distancing itself from his comments.
A McCain official said: “Phil Gramm’s comments are not representative of John McCain’s views. John McCain travels the country every day talking to Americans who are hurting, feeling pain at the pump and worrying about how they’ll pay their mortgage. That’s why he has a realistic plan to deliver immediate relief at the gas pump, grow our economy and put Americans back to work.”
The economy is fine, according to comments Gramm made to the Washington Times. We’re just ungrateful.
“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.
It’s not the economy; it’s the media, stupid!
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“Misery sells newspapers,” Mr. Gramm said. “Thank God the economy is not as bad as you read in the newspaper every day.”
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