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June 9th, 2008
02:08 PM ET

McCain: Fundamentals of economy “very strong”

 Click the play button to see what Jack and our viewers had to say.

Click the play button to see what Jack and our viewers had to say.

FROM CNN's Jack Cafferty:

The economic news seems to get worse with each passing day... but it sounds like John McCain may not have heard the news. Here’s what he said Thursday in Florida: “I have a fundamental belief that, I have a great belief that the fundamentals of our economy are very strong, very strong.”

Really, Senator McCain? That's not what millions of Americans are saying. A new CNN/Opinion Research Corporation poll shows 78% of those surveyed rate economic conditions as "poor”. Only 22 percent say "good."

Here are some of the reasons: The economy lost another 49,000 jobs last month, which means more than 324,000 jobs have been lost since the first of the year. The unemployment jumped to 5.5% last month – that's the biggest increase in the unemployment rate in 22 years.

More and more Americans are losing their homes: one million homes are now in foreclosure. The equity Americans have in their homes-their biggest asset-has declined to the lowest level since the end of World War II. Americans' net worth has declined by a staggering $1.7 trillion dollars.

Then there are the rising costs of energy. For the first time in our history, gasoline now tops $4 a gallon and is headed higher. Oil traded at a record high of $139 a barrel Friday, with predictions of $150 a barrel by July 4 and Goldman Sachs saying it could reach $200 a barrel within two years. The peak summer driving season is just getting under way. These fuel prices impact the cost of virtually everything else.

And, with the nation on the brink of recession, the stock market is taking a hit too – declining almost 400 points last Friday alone. The U.S. dollar continues to weaken against almost all foreign currencies – declining 15% against the euro in the last year. We are $9 trillion in debt thanks to the wars in Iraq and Afghanistan and the irresponsible fiscal policies of the Bush administration. And we continue to run huge trade deficits with China.

Here’s my question to you: Is John McCain right when he says the fundamentals of our economy are very strong?

Interested to know which ones made it on air?

William writes:
Oh really? Our gas was $1.46 and he and his Congress invaded Iraq after 9-11. Now, 4000+ Americans dead and thousands with their limbs blown off. Iraqis are keeping their oil profits and our economy and lives are going down the tube. Pretty hard to think there is an economic problem when your wife is worth a few hundred million. What a guy. Hero? Yes. In touch? Not even close. And this, from a Republican who was going to vote for him until this today.

Nancy from Florida writes:
Does John McCain live in the same United States of America that the rest of us do? While my family can weather the current situation, many families cannot. The sharp rise in unemployment should be enough to get anyone's attention. Rising prices and no jobs does not exactly equal "strong."

Eric from Flint, Texas writes:
McCain is correct in saying the fundamentals of the economy are strong. Unemployment at 5.5% and gasoline for $4 a gallon would be such good economic news in France that there would be dancing in the streets.

Beverly from New York writes:
Jack, Mr. McCain resides in a bubble, happily insulated by his wife's money. He should try living like an ordinary American for 1 month on a Social Security check. I think his perspective on the economy would change.

Russ from St. Paul, Minnesota writes:
Jack, The economy isn't on the rise, but it's not that bad. All you need to prove it is look at the weekend box office. Kung Fu Panda earned $60 million dollars. No offense to Jack Black and Angelina Jolie, but that really shows some people have too much money in all honesty.

Tiffany from Richmond, California writes:
His economy is in good shape – his wife is rich!


Filed under: Economy • John McCain
soundoff (217 Responses)
  1. Ryan, Va

    Jack,

    I don't know if Mccain is correct in that statement because I don't know what that statement means. I suspect neither does John Mccain.

    June 9, 2008 at 2:15 pm |
  2. Tom - Virginia

    Jack –

    McCain is out of touch with reality.

    $4 a gallon gas (and rising), credit crisis, record foreclosures, dropping home values, rising unemployment, decline in high paying manufacturing jobs, increasing "under employment" for many with jobs, no healthcare for millions, and no concern by McCain.

    He is doing ok with his wife's Billions. What about us folks?

    4 more years? Hell no.

    June 9, 2008 at 2:17 pm |
  3. D.J.Lauter

    McCain is delusional if he thinks the fundamentals of the economy is strong. His knowledge about the economy is zip. His expertise is in wars because he was in one, like many others. Doesn't he watch CNN?
    California

    June 9, 2008 at 2:17 pm |
  4. Maryann CT

    That's a question for an economist...are we feeling a new pinch at the gas station? Yes. Are we worried about the resale value of our cars about homes? Yes. Re we worried about our retirement accounts? Yes. Does that mean the sky is falling? That's unclear

    June 9, 2008 at 2:18 pm |
  5. Tom in Desoto Texas

    Who's economy is McCain referring to? China's? India's? He is just removing all doubt that economics is foreign to him on all levels.

    June 9, 2008 at 2:19 pm |
  6. Anne/Seattle

    If the fundamentals were indeed strong, we wouldn't be in a recession, thousands wouldn't be out of work, the price of gas either wouldn't be as high or wouldn't be our prime fuel option and on and on. When any candidate makes such a blanket statement, there's so much more to be explained and without explanation it's just so much air. McCain has a talent for blanket statements and for not coming up with solutions for problems he addresses.

    June 9, 2008 at 2:20 pm |
  7. David, Orlando, FL

    He’s got the tense wrong; they WERE very strong a decade ago. Bush changed all that and MsSame has vowed to continue the debilitation of our economy. I mean, he is the guy who admitted he doesn’t know crap about economics, isn’t he? Well that’s the only thing he does know – nothing.

    June 9, 2008 at 2:20 pm |
  8. lou from Iowa

    The trickle down economics the Republicans love won't work in this economy. Nafta has reconfigured the outcome. The idea that by giving big spenders tax cuts, they will reinvest in companies and provide people with jobs used to work well. But now those companies just send the jobs overseas for cheaper labor. To make matters worse, we have seen that by building other countries up in the trade arena, they have needed more energy, causing our energy prices to spike. The economy is working great for the big spenders in the USA, but the average worker is competing with workers overseas who will do their job for $4 an hour and forced to pay higher gas because of them.

    June 9, 2008 at 2:22 pm |
  9. Jed in Redding, CA

    This must be some use of the word 'strong' I am not aware of. Maybe it's like in the 80's when everything 'bad' was good. But then again, maybe not. Presuming this isn't opposite day, McCain is dead wrong (again) on the economy. Sure, there may be certain sectors of the economy that are doing well, but by no means are they 'fundamental.' Someone needs to get this guy into an Economics 101 class, and pronto.

    June 9, 2008 at 2:22 pm |
  10. Mark, Oklahoma City

    Absolutely, Jack. You take away the economy crippling price of fuel, the budget busting price of groceries and the bottomless moneypit called Iraq and our economy is doing "FANDAMTABULOUS"!

    June 9, 2008 at 2:22 pm |
  11. Darlene - Philadelphia

    How would he know, he admitted in his own words, "I must admit, i know very little about economic issues." BTW, what planet is he on? Because he may be talking about mars or jupiter.

    June 9, 2008 at 2:23 pm |
  12. Gigi in Alabama

    I think that it depends on which side of the "money" that you fall on. If for instance you are in oil the ecomony is great . . . however, if you are on the consumer end of it, the economy stinks. I know that oil is only one portion of the equation, but it looks as though that is what is driving our economy into the pits right now.

    June 9, 2008 at 2:23 pm |
  13. David,San Bernardino,CA.

    What has McCain been smoking. If he really believes that the economy is still in good shape,then he really has no clue about anything.

    June 9, 2008 at 2:23 pm |
  14. Nuwan Sam

    May be in some areas. But those fundamentals are good for the last century. This is a new world we have and a with a new global economic trends. So those old fashion fundamentals needs to be revised in many areas, if American still wants to be the leading economy in years to come.

    Nuwan from Houston, TX

    June 9, 2008 at 2:24 pm |
  15. RLouden, Seattle, Wa

    No Jack, the fundamentals are only good for the 1% of the top who own 1/2 of all stocks. Everyone sees the fundamentals differently, painfully...

    June 9, 2008 at 2:24 pm |
  16. Russ, Seattle

    I don't know which fundamentals McCain is talking about. I'm quite sure he hasn't a clue either.

    June 9, 2008 at 2:25 pm |
  17. Vinny Connecticut

    The fundamentals of the economy are strong; they're not booming but they are still sound. The news media loves to hype "recession" talk constantly and if it's said over and over again, people begin to believe it. Try going to a restaurant on Friday/Sat nights; they're packed. The same for movies. Traffic on the Memorial day weekend was not down from previous years. The jump in the unemployment rate which threw Wall St into chaos on Friday was mostly due to kids graduating college and being in the job market. The price of oil is being fueled (pun intended!) by speculators. Oh, and the foreclosure "crisis"... most of them are people who had absolutely no business buying a house out of their reach but being lulled into those "interest only" and sub prime mortgages.. Let's just all get a grip!

    June 9, 2008 at 2:25 pm |
  18. Bob Fleming

    "The fundamentals of our economy" are like beauty They "are in the eye of the beholder". If you are married to Cindy McCain they probably appear to be " very strong".

    To the average person who buys food and gasoline every day "the fundamentals of our economy""appear to be terrible.

    Bob
    Louisville, Ky

    June 9, 2008 at 2:26 pm |
  19. Brian - Trinidad

    He is absolutely right! History has shown us,as recently as the Clinton Presidency,that with the right policies the economy can change for the better in a heartbeat.And that is because the fundamentals are strong,but needs to be used to advantage,not to fund wars that benefit only the oil sector.

    June 9, 2008 at 2:26 pm |
  20. Tina (Ft Worth)

    Maybe for the elite. Let them come down to my level or some one who is worse off than I and let him see that he speaks with forked tongue. We are in a recession and have been and nothing is right.

    June 9, 2008 at 2:27 pm |
  21. Mark - Asheville, NC

    No. Oil prices and the housing market are the two big variables which are out of control. The markets hate uncertainty, and they have that now in great abundance, which contradicts any ideas about the economy being 'strong'.

    McCain has little choice but to say what he did, but he is wrong. Neither candidate has much of a grasp of economics, sadly.

    June 9, 2008 at 2:27 pm |
  22. Larry from Georgetown, Tx

    Talk about out of touch with reality. This man has no business sense at all. We are losing more jobs to overseas than ever before and these are the jobs that pay the bills, manufacturing. His idea is to send people back to school to learn a new trade but we won't need them to learn anything as the jobs are not here to work in. This man should get out in the real world and look at what is really happening but he would still say things are great, just like the current president.

    June 9, 2008 at 2:28 pm |
  23. Rosalynd Florida

    This is Bush speak again from McCain. I doubt the 1 million folks loosing their homes and those folks that are part of the 5.5 percent unemployment in this country buy what McSame is selling.

    June 9, 2008 at 2:30 pm |
  24. Julie from LA

    I think he's right. When you're married to the heiress of the Anheuser-Busch fortune, what's $4.50 at the gas pump (as it was here today in California?) What's a health care crisis? What's unemployment?

    Like his buddy, George Bush, McCain experiences the world through the security and stability of wealth and privilege.I'm not surprised at all that he has no understanding of the financial stresses and hardships that are affecting so many of us right now. Why would he?

    June 9, 2008 at 2:31 pm |
  25. Michael Lorton, Virginia

    Jack: McCain is fundmentally flawed in his statement. If fact any statement or message that McCain will say or deliver from now until the general election will always be linked to the Bush Administration. And with all going on today in the nation......well you don't have to be a rocket scientist to see that our economy is in trouble and it is affecting each and every one of us.

    June 9, 2008 at 2:31 pm |
  26. Bill,Quarryville. PA

    Yes if he is referring to big businesses like Exxon and rich corporate executives. No if he is referring to the working men and women who are struggling to buy the gas that Exxon and other oil companies are selling at record breaking profits.

    June 9, 2008 at 2:31 pm |
  27. Larry McCumber

    What can I say Jack. He's a Republican and he too lives in LA LA land. We have 2 candidates now who are a few bricks short on knowing whats going on in the real world. There's no telling whats going to happen if either one of these guys get elected. Guess I'll just cross my fingers and pray to God!

    Larry in Florida

    June 9, 2008 at 2:31 pm |
  28. Conor in Chicago

    I think that statement is a perfect way to view this whole election.

    It is true that the US economy has historically always been strong. However, the world is changing. The assuption that the US economy is "fundamentally strong" negates the fact that the world economy is changing. Look at the failing dollar. Is our economy still going to be strong when the Euro becomes the world currency? I doubt. Is a lot of the world talking about switching? You bet.

    I think it makes him look like what Obama is going to paint him as, out of touch and too old.

    June 9, 2008 at 2:32 pm |
  29. Dick B

    This is the MBA approach to governing. Focus your evaluation on a narrow set of criteria and then declare victory. Republicans evaluate the economy on growth. Doesn't matter if one person gets all the growth and everyone else eats bugs. So McCain is right if you like beetles and grasshoppers.

    June 9, 2008 at 2:33 pm |
  30. Terry from North Carolina

    Jack
    John McCain needs to take a nap, if the fundamentals of our economy are so strong why is my chevy in the garage with an empty gas tank and why am I eating oatmeal for breakfast, lunch and dinner ? Is this what the GOLDEN YEARS are like?

    June 9, 2008 at 2:33 pm |
  31. Ken @ Charlotte

    Jack,
    Even John McCain doesn't yet know how badly Bush has sold us out yet. Only occasionally do we get a glimpse of the fire sale of American assets that has been going on for the last 7+ years. For McCain to say our economy is sound is to admit that he only reads the Sunday funnies. Either McCain is lying or stupid.

    June 9, 2008 at 2:34 pm |
  32. sarah, Indiana

    the fundemental basics of our economy are strong but rampaging speculation in oil and energy, unethical lending practices and manipulation of the oil and stock markets by greedy, along with complete lack of oversight by not only bush but the pathetic excuse for congress is what is causing the trouble.

    June 9, 2008 at 2:35 pm |
  33. Dan, Chantilly Va

    I guess by fundamentals he means Capitalism. I'd say Capitalism is very strong. We just don't seem to be very good at it lately.

    June 9, 2008 at 2:35 pm |
  34. Jayne in NH

    It must be senile dementia setting in, Jack. There is nothing good about this economy, fundamental or otherwise. Of course, if I owned multiple homes, had a private jet at my disposal and a fabulously wealthy spouse I might not know or care milk has gone up 40 cents a gallon in less than a week . We'll be fighting the cat for the Fancy Feast before long.

    June 9, 2008 at 2:36 pm |
  35. Brian from Fort Mill, S.C.

    Let's see, Jack:

    We have a huge deficit that is getting larger everyday.
    We have a trade deficit that is making the dollar weaker.
    We have high gas prices that keep getting higher.
    We have high unemployment that is getting higher.
    It's called "stagflation", and it's NOT sustainable.

    This proves that John McCain doesn't know what the hell he's talking about!

    June 9, 2008 at 2:36 pm |
  36. Annie, Atlanta

    Of course he's right Jack, when it comes to his economy. He and his wife are so wealthy they can't be touched by economic downturns, unless people stop drinking beer. That won't be happening anytime soon.

    June 9, 2008 at 2:36 pm |
  37. Tom, Avon, Maine, The Heart of Democracy

    The Middle Class is the backbone of our country not the aristocracy. Look at our history and you'll see that the nation's health, in the World Health Organization's definition of the word, was best when we had a strong Middle Class. A shrinking Middle Class is a threat to America's spiritual, economic, physical, and societal health.

    We'll suffer cultural whiplash going from Bush to Obama but he is our only life raft on the water.

    June 9, 2008 at 2:36 pm |
  38. Howard M, Bolingbrook IL

    How is it possible this man is running for the highest office in the land? McCain is so out of touch, as to make him pitiful. Of course with the riches he and his family are sitting atop how would he ever know the difference.

    June 9, 2008 at 2:36 pm |
  39. Terry in Hanover County

    His ignorance of our economy is further proof that McCain is out of touch with America. But I'm not surprised. This past weekend I listened to Senator Kyl talk about how the economy isn't in a recession and is better than what's reported on the news and I wondered if any Republican has a clue. Maybe they just don't care as long as they and their rich friends get richer while the rest of us work ourselves to death trying to buy the necessities in life. I so look forward to election day.

    June 9, 2008 at 2:37 pm |
  40. Dave from Arlington, MA

    Whether or not John McCain is technically correct seems irrelevant. The statement is designed to be misleading and it suggests that he will not take much action on the economy as president. If he truly cares about the people suffering from high gas prices and home foreclosures, then he will have to offer more than these vague suggestions.

    June 9, 2008 at 2:38 pm |
  41. Chuck in MO

    I'd say it's becoming pretty apparent why he finished almost at the
    bottom of his class in college. He apparently was never very good at
    fundamentals, especially math.

    June 9, 2008 at 2:39 pm |
  42. Karen an Independent from Pennsylvania

    Maybe if you are in the upper 1% that the GOP favors. The answer is NO to the remaining 99%. The man is scary. This proves how out of touch he and his advisors are to the needs of the common citizen. God help us if he wins the general election.

    June 9, 2008 at 2:40 pm |
  43. Sean Ryan

    Jack,

    If John Mccain means fundamentals as the American people, then yes the fundermentals are very strong.

    However, the mismanagement of the US economy and the increasing national debt (helping to lower the value of the dollar) is only going to burden more US citizens with increasing fuel and food costs.

    I'm from the UK and until recently I was pretty much set to live in the US. Not no more! To do so would be financial suicide at the moment.

    June 9, 2008 at 2:40 pm |
  44. R. Allen, MD

    Fundamentals? very strong? well yeah, to him it is because the economy doesn't' affect him. Him and his wife have millions. what exactly does he mean by that anyway... i would love to know

    June 9, 2008 at 2:40 pm |
  45. Dave from Veazie, ME

    Jack,

    He's just as right as when Bush says the fundamentals of the economy are strong, or when they tell us that Iraq has WMD's and has strong links to al queda. These are just more lies and half truths from the republicans because they know that John McCain is seen as weak when it comes to the economy. With all the reasons you've listed, it's definitely issue #1 right now, so the republicans are trying to down play how bad things really are so they can focus on more important things like banning gay marriage or taking away a womens right to choose, or that if we leave Iraq "the terrorists" win. Hopefully this year voters won't be distracted by these tactics.

    June 9, 2008 at 2:41 pm |
  46. jaffer

    Someone around him need to to tell the old man the truth about the economy.

    June 9, 2008 at 2:41 pm |
  47. michael

    jonh mcbush is stupid his economic plan is the dumbest plan ever .
    it is basicly bush in the white house all over again. if we want the same as bush years we should just let bush run again.

    June 9, 2008 at 2:41 pm |
  48. Connie from Logansport,IN

    Jack, Of course he is right , to him "our" means me and Cindy.I can not understand how people believe John McBush feels "our" pain when they own many homes ,corporate jets and a beer company. I bet you five bucks Mrs. McCain does not get her clothes at Walmart either. OBAMA all the way.
    Connie

    June 9, 2008 at 2:42 pm |
  49. Chidi

    Jack,
    What this statement from McCain just means is that he is either out of touch with realities on ground or he is just a hypocrite. Maybe both.
    I can't just understand these republicans who call themselves conservative christians. The truth is that there is nothing about Christlike in all of them. They do not have conscience and are simply wicked. Period.

    Atlanta, GA

    June 9, 2008 at 2:43 pm |
  50. Anthony Smith

    This man is already showing signs of Reagan in his later years. McCain doesn't have a clue about the economy. The fundamentals are not strong when unemployment, foreclosures, energy prices, and food prices skyrocket. However, wages continue to be stagnant or decrease. The fundamentals should be balancing budgets not trillion dollar wars, not billion dollar buyouts, not stimulus packages that don't work, not losing thousands of jobs oversees, not being dependent on foreign oil.

    Wildwood Crest, NJ

    June 9, 2008 at 2:44 pm |
  51. Jaime

    One of the fundamentals in an economy is the supply of energy. Without that, all other economic activity grinds to a halt. Clearly we are not in a strong position on energy, so McCain's statement is fighteningly wrong. I'm terrified that anyone who says this would be considered for the highest office in the land.

    June 9, 2008 at 2:45 pm |
  52. Mary - California

    Jack-McCain see the status of our economy from a Global standpoint -that is international trading is strong, but it is hurting this Country,
    McCain needs to put an end to catering to the Lobbyists. If McCain wants to lead this Country, he better start listening to the American people and paying attention to where our Monetary System is headed.

    June 9, 2008 at 2:45 pm |
  53. Ron San Diego

    Hi Jack:

    It's the old shell game, a play in words. If McCain really feels that way, he is in denial about he condition of the economy. He needs to wake up and smell the coffee.

    Ron San Diego

    June 9, 2008 at 2:45 pm |
  54. Mertis in Atlanta

    Jack,

    The spouse of a multi-millionare would hardly know how the fundamentals of our nation's economy are doing. Especially one who admits that this subject isn't his (Mr. less than a C student's) strong suit. We simply can't AFFORD to have John McCain and his cluelessness on a matter this importance in the White House.

    June 9, 2008 at 2:46 pm |
  55. MICHAEL

    He readily admits the economy is not his strong suit. This is the only thing he's said that I actually believe him. Listening to him talk about Iraq, I don't believe Iraq is his strong suit either like he says it is.

    June 9, 2008 at 2:46 pm |
  56. Emerson in Mass.

    Apparently he is more secure in his current job than I am in mine.

    June 9, 2008 at 2:47 pm |
  57. leevaughn brown

    Hey Jack
    McCain is talking to those that he plans to look out for if he is president. The "haves," the rest of us he could care less about! What kind of fool would make a statement like that today? In other words, "let them eat cake!" If this man becomes president I will seriously have to think about being an American. I may just have to "follow the money" and leave the country. There are millions of good white americans, black, yellow,red and brown, but the nuts are taking over and the quality of life here is sinking like the Titanic. Americans wake up! The nuts are taking over! and the "haves" are behind it all, we are all being used!
    Cinti Ohio

    June 9, 2008 at 2:47 pm |
  58. Phil-Wenatchee, WA

    John McCain only considers his "personal" economy and doesn't take into account that of the nation. Who wouldn't, with a billionaire wife! What he fails to notice is the state of disarray this country is in and of the millions of Americans that are now suffering. I'm thoroughly convinced this man is in the initial stages of dementia and has no grasp of "strong fundamentals".

    June 9, 2008 at 2:48 pm |
  59. raul

    Can you trust someone that admitted to be weak in knowledge about the economy? He has even said that our economy is doing ok although most Americans know we are in the midst of a recession. I know I wouldn't trust an arsonist to extinguish the fire.

    June 9, 2008 at 2:49 pm |
  60. Mark, Berwyn, PA

    Oh my Lord no. He is complety out of touch and missing the grand picture of a bleak ecomonic future. Energy and agriculture prices are out of control and they are not going to 'correct' anytime soon, if ever. With the introduction of wealth in enormous population centers like China and India, consumption of energy and food will only get worse. If something fundamental is not done in our country to address our reliance on foreign oil and the lack of adequate food production, then our ecomony will suffer badly. McCain's attitude about 'fundamentals' may be correct at this point in time, but he is missing the big picture; i.e. "the future".

    June 9, 2008 at 2:49 pm |
  61. Ricardo Fairview, Texas

    My economy is doing outstandingt but I planned for events like this. Hurry up and fill those tanks I need the money for my portfolio.

    June 9, 2008 at 2:49 pm |
  62. C. Farrell, Houston, Tx

    John McCain is right as long as you have the same fundamental belief he has, which I don't, so truly don't fundamentally agree or understand anything he's talking about.

    June 9, 2008 at 2:50 pm |
  63. Michelle, Baltimore

    He is obviously living in another country because the US's economy is screwed up. I guess if my spouse was a multi-millionaire then I would think that everything is fine as well.

    June 9, 2008 at 2:50 pm |
  64. Kristen- Philadelphia, PA

    Jack I think that John McCain is showing some signs of um....delusion maybe (trying be nice). Maybe for him, Bush along with other rich Americans the "fundamentals of our economy are very strong". He only shows how out of touch he is from the majority of us Americans. He thinks that his proposed gas tax holiday is going to give Americans money for school supplies in the fall or maybe we can go out for a nice dinner. First of all being in college my school supplies run up into the hundreds of dollars, so gas tax holiday won’t help there...Second what does he want? Me to go to dinner by myself with the $30 I would be saving. That won’t take anybody’s family to dinner except maybe at McDonalds. Maybe they could even go 2 nights in a row, wow he will help the obesity epidemic. Doesn’t he have people around him who know enough about the economy to stop him from saying such foolish things? You know what, let him keep up with these really ignorant comments they just make it easier for us Democrats to take the White House back come November. So keep up the great work McCain.

    June 9, 2008 at 2:50 pm |
  65. Ray, Florida

    Yeah Jack!

    I bet he still swear's by his old victrola!!

    June 9, 2008 at 2:50 pm |
  66. ROSA LAKE CITY, SC

    i'd like to visit that la la land the republicans live in. they really pretend not to get it.

    June 9, 2008 at 2:51 pm |
  67. Cynthia

    He's talks about Obama being an elitist – sounds more like he is. He is really out of touch with what your everyday average citizen if facing. Just like is suggestion with the gas tax holiday money – take your family out for a nice dinner – Jack where can you go for a nice dinner on $28.00?

    June 9, 2008 at 2:51 pm |
  68. Jerry -Roselle, Illinois

    Was John McCain's first job to relocate the deck chairs
    on the Titanic?

    June 9, 2008 at 2:51 pm |
  69. Eugene in California

    Jack, I support Senator McCain and he is dead wrong, but both presidential candidates are weak, when it comes, to the economy. After 30 plus years, of economic degradation and the constant outsourcing, of American jobs supported, by both political party's we have no industrial base, to bounce back, from a recession. Corporate greed and feckless politicians are destroying our nation, in the way Marx and Lennon predicted.

    June 9, 2008 at 2:53 pm |
  70. Josh (Waipahu, Hawaii)

    Don't buy the hype, Jack. Our economy is very strong. Despite Obama's ranting, we are in part of the natural business cycle. But, don't take my word for it, look at the unemployment rates in other countries, especially Europe. For that matter, look at our historic annual growth in comparison with European countries. Public sentiment may be at a low point, but since when has the public been experts on economics?

    June 9, 2008 at 2:54 pm |
  71. Paul, Columbia, SC

    The country may be fundamentally economically strong but the Captains of industry and the stewards of the country are an abomination. Their naked greed has replaced honor, respect, and dignity and have betrayed the trust of law abiding American citizens. Sure, the Bush Administration is guilty but so are the 535 incumbent "Stewards" in Congress. Bush has to go; Congress needs to go. Make it happen.

    June 9, 2008 at 2:54 pm |
  72. Kim Chanhassen, MN

    Very stong, very strong? Yah I could say that if my wife was doing as well as his. Mine however, works for a florist in the low teens per hour bracket but I'll tell when she complains about fuel that the economy is very strong not once but twice.

    June 9, 2008 at 2:55 pm |
  73. Kim St. Petersburg

    Are you kidding me??? This further proof that he needs to find a nice retirement village and move in. Then he won't have to worry about that darn troublesome economy. The only decisions he should be making is whether he would like to have green or orange jello.

    June 9, 2008 at 2:55 pm |
  74. raul from louisville kentucky

    He has admitted that he is weak in the subject of the economy. Ifn fact he has also said that we are doing Ok, even though we are in the midst of a recession. Would you trust an arsonist to estinguish a fire?

    June 9, 2008 at 2:55 pm |
  75. Jay, Denver CO

    The medication McCain's taken for the past 8 years has turned him crazy!

    June 9, 2008 at 2:56 pm |
  76. Tom, Ft Lauderdale

    Jack

    It's obvious that 28 % of the population are pleased with the economy.John MCain is one who beleives the Emporer's Clothes look great and will probably fit in November. Richard Nixon stated 6% unemployment was desireable. A statement which I will never forget.
    It's a matter of perception. Either, your the bear or the food for the bear. I fear we are not in a recession because this is surely much much worse!!

    June 9, 2008 at 2:57 pm |
  77. Jim in Cape Coral, FL

    Jack,
    I love your segment on The Situation Room but your questions regarding McCain are starting to get a little redundant. We all know McCain doesn't get it. Every American who's net worth is under 250k per year is fully aware that John McCain is just another anti-middle class rupublican who likes to hide behind fear tactics and empty promises. McCain's ideas are so outdated I'm suprised anyone even knows what he's talking about. I can't wait to hear his concession speach after losing by the biggest landslide in U.S. history.

    June 9, 2008 at 2:58 pm |
  78. Bill- Vancouver

    Yes, the fundamentals are good if you are a member of the Republican 3% Club at the top where the fundamentals include the Bush tax cut.

    Why do people think that McCain is talking to the average voter when he says that Obama will raise taxes? The average voter doesn't make more than the $250,000 that Obama ways will be his dividing line.

    June 9, 2008 at 2:58 pm |
  79. Marilyn

    John McCain needs to stand at a gas station some afternoon and get input from the gas customers instead of the gas companies. But I'm not sure even that would help. McCain is reality-challenged and it's too late for a crash course. He and his heiress wife live in a different America.

    June 9, 2008 at 3:00 pm |
  80. douglas gengler

    even if all prices went back to prebush (food, gas, utilities ect) it will take decades for the middle class to recover. this is another example that mccaiin is actualy bush and hasn't got a clue. why is it republicans dont understand, evidently they have more money than brains or maybe theyre master plan is coming together. doug in knoxville arkansas

    June 9, 2008 at 3:00 pm |
  81. Adam Mercer Oshawa, Ontario

    Jack,

    Yeah they sure are if you are a political animal based in the 1970s and think that inflation is a good thing. The man admits he knows nothing about the economy...on the bright side if he keeps campaigning on the economy it is likely that the US will see a totally new administration in the fall.

    June 9, 2008 at 3:01 pm |
  82. Billy G in Las Vegas

    Jack, what do you expect? John McCain spent all his life in either the US Navy as an Officer or in the US Government as a Legislator. I doubt he has the slightest idea what the average American family is going through right now because I doubt he has ever had any worries about money in his personal life.

    June 9, 2008 at 3:03 pm |
  83. Al Baran

    As a stockbroker I point out that the S&P was up 326% under Clinton but is actually down from the day Bush took office. This is the worst domestic market going back to Truman and yet Bush wants to replace Social Security with stock market investments. If we do that, let's hope that there isn't another Bush in office. Who is going to invest in a country that believes only two things, borrow from other countries to pay for running our government, and war is the only tool available for running foreign policy?

    Al
    Fairfield CT

    June 9, 2008 at 3:06 pm |
  84. Esther Cuyahoga Falls Ohio

    He also thought it was good to talk to Keating back in the time of the savings and loan failure so this goes to his bad judgement.

    June 9, 2008 at 3:07 pm |
  85. Marguerite Toledo, OH

    Sounds like Bush-politics to me. Is he not paying attention or just trying to be funny? Sounds like Bush-politics to me! While the rest of the country is suffering from family members dying in the war and people losing their jobs.
    We need to stop spending so much in Iraq and help the citizens of US.

    June 9, 2008 at 3:07 pm |
  86. Peggy, St. Louis

    Ha ha ha. Sorry I can't stop laughing (or crying) long enough to answer the question!

    June 9, 2008 at 3:07 pm |
  87. Nancy in Florida

    Does John Mc Cain live in the same United States of America that the rest of us do?

    While my family can weather the current situation, many families cannot. The sharp rise in unemployment should be enough to get anyone's attention. Rising prices and no jobs does not exactly equal "strong."

    June 9, 2008 at 3:11 pm |
  88. Pablo in Arlington Texas

    Jack

    If I was the Iraqi leadership, I"d sooner buy a used car from Dick Nixon than trust any deal cobbled together by George "Walkaway" Bush. He is a high smellin, low down, yellah bellied, flannel mouthed, four flusher, and his word ain't worth a plug nickel. And thems his good points

    Paul in Tejas

    June 9, 2008 at 3:12 pm |
  89. MIKE ADKINS

    it shows you what wealthy people think. harry truman once said " it's a recession when your neighbor loses his job. it's depression when you lose yours!" maybe john mccain should be in the same depression as i am to understand economics a little better!

    June 9, 2008 at 3:12 pm |
  90. Patricia

    Jack, That's why Sen. Barack Obama should be President!! He Get's It!!! Furthermore, Who Ever Is Sen. Obama's Campaign Treasurer Should Be Hired As The Manager Of This Nation's Finances. Why??? John McCain's Campaign Is In Debt, Ask Yourself Do You Really Want Someone Who Can't Run A Campaign Without Going Into Debt To Be President Of The United States??? Sen. Obama's Campaign Is Not In Debt. That's As Real As You Can Get.
    Patricia
    Palmdale, Ca.

    June 9, 2008 at 3:14 pm |
  91. Marie

    If he keeps talking like that they'll be chasing him out of those townhall meetings.

    June 9, 2008 at 3:14 pm |
  92. Colleen, Weddington, North Carolina

    Jack: Yes John Mc Cain is right when he says the fundamentals of our economy are very strong--As in Strong Smelling. Our economy stinks to high heaven and John McCain's lack of economic experience will very likely make it reek even more. We need the breath of fresh air and change that the Democrats and Barrack Obama will bring. We need a better America for our kids that we will get by fumigating the current administration and not making the same voting mistakes in 2008 that we did in 2004.

    June 9, 2008 at 3:14 pm |
  93. Ron Christman

    Jack,

    Carly Fiorina is one of McCain’s top economic advisors and being touted as a possible VP. She was fired from her last job where she saw the value of H-P cut in half on her watch and was personally responsible for more job losses in her company than what McCain’s policies will be able to bring back to the country! Of course, she got a $21 million buyout when she was ‘fired’. I guess “strong economics” to a Republican is taking care of their own CEOs while screwing the workers when the man/woman at the top screws up.

    Ron
    Washington, PA

    June 9, 2008 at 3:14 pm |
  94. Lynx

    McCain is living in the past Jack

    The fundamentals of our economy are strong if you are in the upper 20% of income. If you are not a professional or Tech business owner supplier you are out in the cold. Not just fundamentaly but actually.

    These are the ones who can take advantage of the downturn in the housing market and soon the consumer markets. They will build wealth, unfortunately on the backs of those who are now fundamentaly screwed. Thanks to Bush Mccain economics.

    3 Billion dollars a week for Raytheon, Halliburton, General Dymamics,
    and other war suppliers for Iraq while we lose our homes.

    Bushonomics

    June 9, 2008 at 3:16 pm |
  95. Joseph Flowers

    John McCain is out of touch with real working pwople who know that the economy is NOT! strong. Hard working people have lost their homes through no fault of their own because of rising economic prices which they are not allowed to control. Property taxes, flood insurance, home owners insurance.

    Also the national unemployment rate only tracks those currenly fileing or receiving unemployment. If your unemployment has run out, you are no longer counted. If you did not qualify for unemployment insurance you are still unemployed but are not counted.

    June 9, 2008 at 3:16 pm |
  96. bob, oshawa, ontario, canada

    Jack. No, because those fundamentals are flawed when large corporations can receive government financial bailouts and thereby escape the basic market corrective forces that punish bad company policies while smaller businesses, on the other hand, who make good policy decisions suffer because they are caught in the negative downturn created by these same larger, multi-national businesses. McCain's view on the economy matches that of George Bush, who also thinks the economy is sound but simply going through a few minor bumps. They also think the Iraq invasion was a good decision.

    June 9, 2008 at 3:17 pm |
  97. don in naples, florida

    the fundamentals of our economy are very strong??? It seems like Mccain is just make a generalized statement about economic growth and not about the state of the economy. The statement is typical meaningless political rhetoric. Mccain can't win if he keeps saying nonsense like this.

    June 9, 2008 at 3:17 pm |
  98. mick, Hamden, CT

    This is more proof that McCain will be 4 more years of Bush. This is the same strategy they always use, state everything positively even if you know it's false. The media will print it and if you say something often enough, it will come true. Create your own reality. Maybe they'll make a cabinet level position for the Ministry of Propaganda.

    June 9, 2008 at 3:18 pm |
  99. Scott - Wichita, Kansas

    You show your own ignorance when you make fun of this, Jack. The "Fundamentals" of the economy are the ideas behind it: Free Trade, a laissez-faire free market economy, and entreprenuerism which have allowed the country to become the economic powerhouse it is. To use these defining fundamentals as the reason why the economy is falling now is akin to saying that the flour in your bread makes your jelly taste bad. McCain is 100% correct in saying this.

    June 9, 2008 at 3:20 pm |
  100. Kendall Hewitt

    Are you serious??? This question is a bad joke – right?? I'm the same age as he is and if I stated to my family that's struggling to make it that the economy is good they'd be admitting me to a Long Term Care Facility in short order.

    Kendall Hewitt

    June 9, 2008 at 4:10 pm |
  101. Gail Shaeffer

    Putting her on the ticket ias Vice President the best way to get Hilary's supporters. I am one of them and if Obama is not wise enough to do this, I am voting for McCain. My family and my partner will do the same thing. And I will bet you $5.00 that many others will do the same thing!

    Gail from Arizona

    June 9, 2008 at 4:11 pm |
  102. george, Atlanta

    Scott – Wichita, Kansas – the flour in your bread is making your brain overheat. The issue is not about the fundamentals of the economy. It is about the mismanagement of those same fundamentals. Bush didn't have a clue, and McCain can't find his way around Wall St. Stop repeating the same old generalties without dealing with the specifics.

    June 9, 2008 at 4:14 pm |
  103. John

    The U.S. economy has slipped so far into uncharted territory that it is highly unlikely anyone even knows what the fundamentals are anymore, let alone if they are sound. We appear to be in deep mud at the moment, but problems inspire innovation, and innovation results in new products, new markets, and better ways of doing things. In a few years we may have a much stronger, greener economy. No pun intended.

    Fort Collins, CO

    June 9, 2008 at 4:14 pm |
  104. Von

    Yes Jack, fundamentally to far to the right.

    Von from Louisiana

    June 9, 2008 at 4:14 pm |
  105. Cole Wilder

    The only way Obama will get my vote is if he add's Clinton to his ticket.

    June 9, 2008 at 4:16 pm |
  106. Sandi AZ

    I really believe he lives in a "Fairy Tale Land" ! Of course he and his wife live on millions every day, I bet he does not even know how much a gallon of milk cost! He needs to think of people who live on minimum wage and are dealing with gas, food, and medicines.

    June 9, 2008 at 4:28 pm |
  107. Karen J. from Rocklin, Ca

    After hearing Sen.O'Bama today, McCain comes across as completely out of touch. Jack, it's even more reason why I'm an Obamacan.

    June 9, 2008 at 4:29 pm |
  108. Steve from California

    Ffist John McCain tells us the U.S is "winning" the war in Iraq. Now, he tells us the economy is "fundamentally sound". The more I listen to this guy the more I realize he really doesn't want to be President of the United States. Either that or it's time for the men in the white coats to take John McCain away.

    June 9, 2008 at 4:29 pm |
  109. Ed in RI

    Jack;

    McCain has spent too much time listening to Bushs' denials, and the right-wing spin machine. Like Bush, He is out of touch with reality.
    At least in that respect, He's acting like a conservative.

    ES

    June 9, 2008 at 4:36 pm |
  110. Kerry

    It scares me to think that someone running for the most powerful office in the world doens't have a clue what's going on around him or in the world..

    Actually, it shouldn't scare us as we should be used to it after electing another 'idiot' twice in a row, but it should really scare us now...Just look at this country and the economy...

    If this country elects McCain, he needs to change his name to McBush..

    June 9, 2008 at 4:40 pm |
  111. Darren S.

    McCain is looking through Bush's rose-colored glasses and couldn't be further from the truth.

    June 9, 2008 at 4:54 pm |
  112. Darlene Philadelphia

    I think the country has had enough of the so called 'trickle down economics', it seemed to trickle just to the wealthy and stop. I just listened to john mcwar say he wants further corporate tax cuts and they should trickle down to the lower classes. How elite of him. I think I like Obama's from the bottom up strategy better. we can't afford mcwar.

    June 9, 2008 at 4:55 pm |
  113. Shafi Alam

    We should listen to McCain only when he substantiates his talk about economy with quotes from at least some economists. If he consulted with some economists, we should check on the economists themselves. McCain should get his talk checked beforehand. We don’t deserve to be misguided. We haven’t done anything wrong to him. We’ll not do anything wrong to him if we vote for Obama on November 4th.

    Shafi Alam
    Austin, Texas
    Now Tokyo, Japan

    June 9, 2008 at 4:55 pm |
  114. Steve in Raritan, New Jersey

    This comment is beyond comprehension. Makes me ask, does McCain have "intelligence we can believe in"????

    June 9, 2008 at 4:55 pm |
  115. Erika (New Mexico)

    I think that everyone who believes that the stimulus rebates, which John McCain supported, were a bad or worthless idea (since most people are using the money to pay off their bills rather than to stimulate the economy) should donate their rebate check to the Obama campaign. That should provide a good reality "check" for McCain.

    June 9, 2008 at 4:56 pm |
  116. Lynn - Rancho Mirage, California

    John McCain should actually "fund- a -mentally" compentent economist to make his statements.

    June 9, 2008 at 4:57 pm |
  117. Jason - Medina, Ohio

    Jack,
    Sen. McCain is retreating back to this Bush leadership approach where if you only say positive things maybe it will actually come true. Spin, Spin, Spin...this corrupt government's wheel. People are losing jobs by the thousands. Any type of job creation is at McDonald's. Gasoline and food cost an arm and a leg. People are losing their homes and their faith in the American dream. Our economy is strong?? You know, people question how could Obama be a part of that church and not do anything about that crazy pastor? I want to know how Sen. McCain could be a member of congress all these long years and not do anything about the direction of this country?

    June 9, 2008 at 5:01 pm |
  118. Joe

    The fundamentals of the economy are very strong for the wealthy. It’s just the middle class and the poor who are struggling. McCain doesn’t get it. This morning on American Morning you all had Carly Fiorinia, the ex-CEO of HP, on to defend McCain’s economic policies. That’s like George W. Bush sending Dick Cheney over to defend giving no-bid contracts to Halliburton.

    Joe
    Missouri

    June 9, 2008 at 5:07 pm |
  119. Janice in SD

    McCain says the fundamentals are strong? Is that why yesterday the European banks expressed their anger at us and are asking for new regulation of our banking industry?

    McCain's a fool wanting to continue the policies of a fool.

    Obama 08

    June 9, 2008 at 5:07 pm |
  120. Chipster

    Well, he did say that he doesn't understand economics!

    Like most Republicans, he doesn't understand it if it doesn't have any personal experience with it. McCain has loads of money, no foreclosures for him, $5/gal is no problem in the McCain household, and he has health insurance (and WE pay for the bulk of it).

    Sen. Connie Mack denies that there is a health care crisis because his family is very well cared for – again, on OUR dime!

    Give me a break!

    June 9, 2008 at 5:08 pm |
  121. Alex, Seattle, Washington

    Jack:

    I believe that McCain was trying to say that the American economy is very resilient, which I also would like to believe, but with the way things are going, vague optimism will not be enough to meet current and future economic challenges.

    Alex,
    Washington

    June 9, 2008 at 5:20 pm |
  122. Michelle R in T

    Fundamentals? It is possible that the fundamental ideas of the economy are good. But it isn't the fundamentals that are important. It's implementing those basic fundamentals to the CURRENT economic situation and producing CHANGE! Its always good to have a starting point, but I think McCain is trying to make voters feel better and unless we see change, that's not going to happen.

    June 9, 2008 at 5:20 pm |
  123. Bonnie/New Port Richey FL

    John McCain acts and speaks like a man who is completely out of touch with reality. To me he is looking like he is confused and is in his own little world. Is this the man we would want in the Oval Office?He acts like he would probably use the Red Phone to order a pizza. Would we be electing him or Cindy? I have not watched a Bush speech in years because I could not stand that smirk. McCains stupid grin is the same thing. The economy is BAD!

    June 9, 2008 at 5:20 pm |
  124. Allen Dohra

    The economy is strong, we are winning the war in Iraq and should stay there as long as it takes, no matter how much it costs, and we should make sure not to communicate with anyone who doesn't see things our way so we can get ourselves into a similiar quagmire in the not so distant future? Experience doesn't mean anything, if you don't learn something along the way!!

    June 9, 2008 at 5:20 pm |
  125. Dash

    Its sad to see how far John McCain is actually going to appeal to his base. A statement that ignorant should only be coming from the lips of George Bush, and the fact that there is another person so blind to the world around him and the piles of evidence being presented on a daily basis scares me politically as an American and intelligently as a human being.

    Dash
    Hibbing, MN

    June 9, 2008 at 5:20 pm |
  126. Mike in St. Pete Beach, Florida

    Keep in mind he's a republican. They tend to use a different metric to measure these things.

    June 9, 2008 at 5:20 pm |
  127. Darnell

    McBrain,

    Has done it again! This statement proves that he is only speaking the same priveleged rhetoric of the rich. He wishes to have town hall meetings debates with Senator Obama I just want to know if he will give me a ride to the venue! Please keep your 10 percent views within your circle of cigar smokers and silk tie wearers.

    Darnell

    June 9, 2008 at 5:20 pm |
  128. dike

    With Mccain,counituing the war.united states have no good economic future.

    June 9, 2008 at 5:20 pm |
  129. toni

    I believe McCain was correct when he said that the economy is not his strong point. It was Republican thinking(even as far back as Reagan and his deregulations) that has caused us to be where we are today.I am hoping that we citizens will wake up and finally realize that the Republican philosophy of small government only causes us large headaches. Like everything else Senator McCain needs sit back and let the Democrats do what they do best. Clean up Republican messes.

    June 9, 2008 at 5:20 pm |
  130. Amado Yoro - Hawaii

    Too bad, Jack, Sen John McCain is not living in reality. He seems to ignore the fact how economy is getting worse and poorer.

    I am one of the million in our state struggling since the Iraq war.

    I believe, it is time for a change, real change including the leadership in Washington

    June 9, 2008 at 5:20 pm |
  131. Mel Grossman

    McCain has it right. The fundamental economy is strong. Individual
    income, the housing crisis et al are the result of mistakes made by individuals who failed to get a good education, fail to do due diligence
    when being courted by ambitious realtors and lenders, and above
    all always sitting around waiting for the Democrats to take care of them
    from cradle to grave.

    June 9, 2008 at 5:20 pm |
  132. Bruce / Tucson

    The fundamentals of McCains economy are GREAT! How much is his wife worth again? I think he needs to start taking geritol and double the daily dose!!

    By the way....If I move to Phoenix, do you think he would rent me a room in his (excuse me) her mansion, at a reduced rate??

    June 9, 2008 at 5:20 pm |
  133. Ray Murphy

    The economy is like Iraq. Its fine in the green zone. If you have the green, commodity prices are negligble and its a good time to consolidate real estate holdings.

    Ray Murphy
    California

    June 9, 2008 at 5:20 pm |
  134. Roger B

    Jack since 22% of Americans think the econemy is fine maybe they should just vote for MCain, the other 78% of us that know its falling apart will vote Obama and then we can go about the serious work of starting to fix it.

    June 9, 2008 at 5:20 pm |
  135. jo c in San Antonio, TX

    McCain says the fundamentals are strong?

    He not only looks like a crazy old man, saying things like that also makes him sound like one!!

    June 9, 2008 at 5:20 pm |
  136. Buddy, Columbia, Mo..

    Yeah, it's strong like a skunk!

    June 9, 2008 at 5:25 pm |
  137. Helen

    John McCain is asleep at the switch as are most Republicans in Washington! They are rolling around in Millions while the rest of the country is wallowing in a pit of depression trying to make ends meet- -OF COURSE THE ECONOMY LOOKS GOOD---TO HIM!

    June 9, 2008 at 5:25 pm |
  138. Nell Cook

    No, he is as far wrong as it is possible to be. It's moronic

    June 9, 2008 at 5:25 pm |
  139. Peter Connecticut

    John McCain has lived his entire adult life supported by American taxpayers. 1st in the Navy then in Congress. He has a wife with sufficient wealth to shield him from the realities the 90% of rest of us face. How can he have a grasp of the economy?
    As an aside. I wonder who payed for the coffee he had at that Richmond coffee shop. I didn't see him reaching for his wallet. Or was it on the house? If I had his perks the economy would be fundamentally sound for me too.

    June 9, 2008 at 5:25 pm |
  140. Chris Sherritt

    Yet more proof that the deindustrialist s on the right don't have a clue. I believe that the Republican agenda is to create a society with 3% rich and 97% poor. Where are the guillotines when we need them?

    June 9, 2008 at 5:27 pm |
  141. Joe

    Jack-

    McCain is right. Fundamentally our economy is strong. Every few years the economy experiences a recession. Just like we are in now. And as for oil prices...can you say price bubble? Just like the tech stocks in the early 2000s, and then the home market more recently, oil is in a price bubble and its just a matter of when that bubble will pop.

    –Joe
    Omaha, NE

    June 9, 2008 at 5:27 pm |
  142. Tiffany, Richmond, CA

    HIS economy is in good shape – his wife is rich!

    June 9, 2008 at 5:27 pm |
  143. Cathy Burch

    Jeff,

    It's funny that McCain is saying the same exact thing Bush said in 2007. This just prove he is out of touch with reality and in touch with bringing in four more years of Bush policies which lack economic understanding. Further more, if you McCain can't see the devastation here on his own American soil, how can we trust his judgement for foreign issues?

    June 9, 2008 at 5:27 pm |
  144. Starlight

    Jack,
    What he said was "the fundamentals are strong" Do you not know what that means. ?

    June 9, 2008 at 5:27 pm |
  145. ken from California

    Most are suffering from the cost of oil, the War, unemployment, stock market losses, and the mortgage crisis to list a few. ...so who really cares if the " fundamentals" of the economy are strong or not. "fundamentals" aren';t helping to lower gas prices, unemployment or mortage rates so who cares?

    Let grampa McBush keep talking, he's as out of touch with reality as W is.

    Obama 08

    June 9, 2008 at 5:27 pm |
  146. Sam

    Jack,

    You should have a one-on-one interview with him and show him what the ordinary folks are going through! When was the last time McCain filled gas in his SUV?

    Sam
    Syracuse

    June 9, 2008 at 5:27 pm |
  147. John

    Senator McCain is completely lost. He will be more lost after the November elections after the democrats demolish his bid for president. I have a dream – the republicans will be out of office for at
    least the next 8 years. What relief!

    June 9, 2008 at 5:27 pm |
  148. Roger B

    Jack , any democrat that votes for John MCain will wake up a year or so from now with the same worthless feeling that those of them did when they voted for Bush in 04. They'll complain, whine, and grumble and hide the fact they should of voted for Obama.

    June 9, 2008 at 5:31 pm |
  149. Chris

    I'm sure that if I had a wife with a couple hundred million in the bank, the economy would look pretty good to me too! To the 99% of us who actually have to figure out how to pay our bills, the picture is a little less rosy.

    June 9, 2008 at 5:31 pm |
  150. Jim in Los Angeles

    Jack,

    McCain can't be honest about the economy. It is the policies of the current administration that has caused most of the calamity we find ourselves in. If he admits that the economy is in the gutter, he would then have to answer questions about why – and the last thing he wants to admit is that his own party has detroyed the US economy.

    You can trace the price rise of oil from the date the tax cuts went into effect. I know that McCain has said he doesn't know anything about economics, but it is pretty easy to understand that as the US borrows money to finance the gap in the budget, the value of the dollar decreases – and the price of oil, based on the dollar increases...

    June 9, 2008 at 5:31 pm |
  151. Steve from Lincoln

    Yes, I would agree with Mr. McCain that Mr. and Mrs. McCain's economic fundamentals are very strong indeed.

    June 9, 2008 at 5:33 pm |
  152. Nathan, Pasadena, CA

    Oil and housing prices are not, by any stretch of the imagination, "fundamentals" of the economy. Yes, they affect each and every one of us, but let's think about the bigger picture and realize that he might have a point.

    June 9, 2008 at 5:34 pm |
  153. Chris Lyon

    I'm voting for him because "tax and spend" does not work. The dems will stop at nothing to make the U.S. a socialistic mess (we need another boston tea party). Everyone should pay the same tax rate and receive the same benefits of the taxes they pay. Where was my rebate check?

    John McCain needs to keep quiet if he is going to say anything that sounds like th economy is strong.

    June 9, 2008 at 5:34 pm |
  154. Bill From PA

    I believe that McCain's personal economic fundamentals are very strong, as for most of the rest of us, not so much.

    June 9, 2008 at 5:34 pm |
  155. Don from Canada

    Not my place to comment on your politicians, will leave that to the American people. But as far as your economy is concerned it can't be that good, because being a very close partner of yours to the north, we too are feeling the effects of a slowing economy so something is going wrong. We are loosing jobs and already our gallon is over $6.00, which is pushing the price of everything up. The faster you fix things will be a welcome relief to us.

    June 9, 2008 at 5:34 pm |
  156. Jason

    Not sure what fundamentals Mccain is talking about. People are suffering and its only getting worse. He doesnt live paycheck to paycheck like most Americans. The only thing strong in our economy right now is fear.

    June 9, 2008 at 5:34 pm |
  157. Jack Richmond, IN

    I think the race should be over right now. There should be an intelligence benchmark below which candidates for the most powerful and important job in the world cannot pass.

    Once a candidate for President of the United States is caught saying something that stupid, they should be removed from the process all together.

    This isn't a race. It's a trouncing!

    Jack
    Richmond, IN

    June 9, 2008 at 5:34 pm |
  158. Mike Roberts

    for McStain there is no sense of urgency about the economy obviously and that is not someone we can afford to have as president. We need someone ready to make changes and not sit back and pretend things are going to fix themselves.

    June 9, 2008 at 5:34 pm |
  159. rob

    He must have just read that book on economics. If this is a strong economy then I being middle class would hate to feel McCain's definition of recession. I do not remember the last time a Republican balanced our budget with a positive surplus either. Oh well.

    June 9, 2008 at 5:35 pm |
  160. Nancy Gowler

    McCain lives in la la land. No clue. I once had a boss like that, a complete disaster. If you didn't laugh you'd cry. Sign me an old white woman for Obama.

    June 9, 2008 at 5:35 pm |
  161. Aaron

    John McCain is absolutely right, "the fundamentals of our economy", (I.E. the middle class), is still strong. I guess he wants to change that by giving more tax breaks to the rich, and completely eliminate us stupid middle classers.
    Yucaipa, Ca

    June 9, 2008 at 5:35 pm |
  162. Dillia

    war, See you at the polls, Nov.4th.

    June 9, 2008 at 5:35 pm |
  163. River Pierce

    you guys need to realize there isn't much Obama can do about the economy...the effects of globalization including America's trade deficit, global warming and growing economic powers (China and India) have only just begun to show their full effect. America is no longer going to be the superpower it once was. Neither McCain or Obama will be able to stop American's from consuming both goods and resources to sustainable numbers in order to reduce the balance of trade or reduce the dependency on foreign energy.

    June 9, 2008 at 5:35 pm |
  164. Jay

    The economy IS strong. This is true. However, the fundamentals of our economy are poor. Inflation and the falling dollar are worrisome, but the economy really has NOT been affected by it.

    We haven't seen anything, yet.

    June 9, 2008 at 5:35 pm |
  165. Mike White

    Just another example of an out of touch Senator McCain trying to whitewash the debacle create by the Republican party in his effort to get elected and continue the decline and fall of the USA begun by his predecessor. I suppose he can claim senility if all else fails – that would be a better sell than outright stupidity!

    June 9, 2008 at 5:36 pm |
  166. Jenny

    McCain is blowing smoke at Americans just like Bush did. Hopefully American won't bite this time.

    June 9, 2008 at 5:36 pm |
  167. michael

    John McCain does not have to swipe his own credit card to buy gas nor does he have to decide between food or gas muchless medicine. Apparently he is in his own fairytale.

    June 9, 2008 at 5:36 pm |
  168. babbette

    McCain needs to take his head out of his.....pocket! We will pay dearly if he is elected. Thanks for doing your thang Jack!

    June 9, 2008 at 5:36 pm |
  169. asmidee

    Senator McCain must reffering to a different US

    asmidee from FL

    June 9, 2008 at 5:36 pm |
  170. send money

    face it ... he doesn"t give a squat. he is wizzing on our heads while telling us it's raining ...

    June 9, 2008 at 5:36 pm |
  171. Leo

    Mr. McCain...tell me you're joking...

    June 9, 2008 at 5:36 pm |
  172. ORLANDO DILLON

    Jack,

    I wonder if John McCain is in the same country with all of us. As is J. McCain, we are also patriotic. However, our so-called patriotism should not blind us to the harsh realities that face us at this time in our nation. Economically, we need to admit that we are in trouble.

    My mother use to tell me if you cannot admit 'it' you wont change 'it'. John McCain, if he wants to be president of the USA he 1st need to admit and the n make a move to change or remedy the situation we face. I am very scared to vote for him if he doesnt.

    June 9, 2008 at 5:36 pm |
  173. Jason

    The people don't have any bread?? Let them eat cake!!

    June 9, 2008 at 5:36 pm |
  174. lj

    During the dirty 30s the news forecasters talked doom and gloom but the presidency back then got all the news systems to start talking positive about the economy and it was a turning point for the US economy back then. If you think doom and gloom the that is all you will see. I think McCain is trying the same approach but I'm sure no news system in this country will go along with him because they make their bread and butter on bad news.

    June 9, 2008 at 5:36 pm |
  175. Frank-Oak Lawn IL

    I hope Mr McCain is not going to base his campaign on this economy.
    Do the words It's the economy stupid ring a bell.

    June 9, 2008 at 5:36 pm |
  176. Martha Andrews

    The scariest thing about all of this is–how many people all over the country say they'd vote for him! That scares me more than what he says!

    Anyone can be stupid and uneducated (Senator) on current economical conditions (specially married to a millionairest) but to have millions of people say they'd follow him–THAT is scary!

    June 9, 2008 at 5:36 pm |
  177. Warren

    To those who have faced misfortunes, loss of jobs, bankruptcy, illness, McCains's statement is painful.

    June 9, 2008 at 5:36 pm |
  178. td

    Why haven't we heard anything about the theft of Obama's logo, slogan and backdrop by the McShame organization. McCain's new image sure looks like Obama to me.

    June 9, 2008 at 5:37 pm |
  179. Randy, Elmira NY

    When McCain said he wasn't good with economic issues, he wasn't kidding was he! That was the "straight talk express" alright. I haven't got a clue and I admit it. Other than the 1% of Americans with 90% of the money, who thinks this economy is fundamentally solid? Only John McCain. I can only say....WOW!!!!!

    June 9, 2008 at 5:37 pm |
  180. K. S. Minneapolis,MN

    He's just plain McWrong. How can we believe him about Iraq or anything else if he can't even tell the truth about the economy?

    June 9, 2008 at 5:37 pm |
  181. Sid Houston

    Jack,

    If we let John McCain win, we will surely be in Iraq for 100 years and our economy will be in recession for 100 years. Which world does he live in ?

    June 9, 2008 at 5:37 pm |
  182. Big Jeff, Los Angeles

    The only thing that remains strong in this economy are the oil companies profits.

    June 9, 2008 at 5:37 pm |
  183. Dornell

    Jack,

    I'm a veteran and appalled at the whole republican party, plus their lackadaisical attitude about the issues. While he (McCain) is skinning and grinning, with millions at his disposal... real families are losing everything they've worked for over the years. It's been a long time from his days as a sailor, so snap back to the present Mr. McCain. I believe Obama has the best interest for the people at heart, not just another republican pocket lining party!!!!!

    June 9, 2008 at 5:37 pm |
  184. Tom Spotts

    If he doesn't want to be associated with George Bush why does he sound so much like George Bush? These guys really do live in a world of their own.

    June 9, 2008 at 5:37 pm |
  185. Jack, Plymouth MA

    Yes, and there's this Bridge in Brooklyn at a great sale price...

    June 9, 2008 at 5:37 pm |
  186. bernie

    This old guy is married to a millionairess and has slopped at the public trough all of his adult life. He is clueless in Scottsdale and wants to bring this incredible ignorance to the White House. Saints preserve us.

    June 9, 2008 at 5:37 pm |
  187. Drew K. from Seattle

    For John McCain to stand there and try to tell us that things are still on the up and up is a slap in the face, not to mention very Bush-esque. It was an attempt at fishing, but I don't think there are enough dumb Americans left with any money to support them this time; everybody else with eyes can see the mire we're standing in. McCain is a war hero, we all love him for that. Maybe he would be more comfy as Secretary of Defense.

    His campaign is doing their best to make him appear as if he thinks about things like the economy, education, the middle class, and energy standards, etc. etc. but I think we all know that's not really what's on his mind. A President must be comfortable talking about (or for expletive's sake!) at least looking at ALL of the issues, McCain just proved his is not that person.

    June 9, 2008 at 5:37 pm |
  188. janice george

    McCain needs a realty check....... and not the check his wife gets from her beer fortune. Keep it up MacCain and friends ,soon there will be no more America to govern.

    June 9, 2008 at 5:37 pm |
  189. Larry Breiden

    Oh yes!!! Like we're "winning" in Iraq! He's wearing ruby colored shoes, closing his eyes, clicking his heels together three times and saying "I wish I was back in the 'ninties!"

    June 9, 2008 at 5:37 pm |
  190. Jim Oyer

    Another out of touch politician.

    June 9, 2008 at 5:37 pm |
  191. Mary

    What does he mean by fundamentals of the economy? If they were strong, we would not be in this mess!!

    June 9, 2008 at 5:37 pm |
  192. James

    Can someone just clue me into what the fundamentals of the economy are? As a peasant(middle class), my family and I are being decimated by soaring energy and food prices. My small investments are heading into the toilent(few stocks). Every day I worry that my tech sector job is gonna be sent overseas. And this is after I purchased a house for 26K less than the previous owner who was forclosed on.

    So can someone throw me one of these "strong fundamentals" please, because I just keep getting fed rotten ones. Thanks

    June 9, 2008 at 5:37 pm |
  193. Jim R.

    McCain is being served up by the Republicans to soften the blow to their egos when he loses. They'll say, "He wasn't our best candidate", then proceed to bash the Democrats who will be trying to clean up the huge mess the Repugs left. I agree, he has to keep spewing the same ra ra garbage Bush and his cronies do to keep "on message" (translation: keep BS'ing the country until I get outta here).

    June 9, 2008 at 5:38 pm |
  194. Sue

    Why should we be surprised? He said himself that he knows nothing about the economy. I weep each time I fill up my car to go for a job search, and McSame just doesn't get it.

    He can lie on Iraq, but with the economy we all are facing the bitterness and no lies from McSame can change that.

    June 9, 2008 at 5:38 pm |
  195. GetReal

    One of you made the statement " the philosophy of small government only causes us large headaches." MOVE to Russia if you feel that way!!!!!!!!!!!

    June 9, 2008 at 5:38 pm |
  196. Matilda

    No, John McCain is dead wrong to say that the economy is strong. Even though he confessed that he doesn,t know anything about the economy, I still cannot believe he said that. He must be really losing his bearings.

    June 9, 2008 at 5:38 pm |
  197. Eric

    I hope Mccain continues to view the world in the same rose-tinted glasses that Bush wore during the first few years of the Iraq war. It will prove to the American people how out of touch he is. The last thing the American people want right now is 4 more years of Bush-like spin on reality.

    June 9, 2008 at 5:38 pm |
  198. Noclinton

    Clearly not. The U.S. dollar used to be at parity with the Euro. Now 1 Euro is worth $1.50. I should have stocked up on those things when they came out. To make matters worse, the European economy isn't really that strong in and of itself. It just goes to underscore just how terrible the domestic enconomy is right now.

    What I suspect McCain is trying to do is avoid having to admit that the reason the economy is so terrible is the trillion-dollar war in Iraq that he is so fond of continuing.

    June 9, 2008 at 5:38 pm |
  199. Mike Sitton

    Jac k,

    Much of the percieved economic downturn is exactly that...percieved. Only 10 short years ago, we would have been celebrating an unemployment rate of "only" 5.5%.

    We have ourselves to blame for allowing polls and pundits to influence our thinking to the point that we can be talked into a recession. The housing market decline is a perfect example. First, business pundits lauded the market and ebcouraged everyone to "get in". Then, about a year and a half ago, before any downturns were happening, the hand wringing began about the housing "bubble".

    Are you surprised that the average American believes the opinion makers on this stuff? The average American thinks the price of gas is high because Bush is buddies with the Saudis...come on...recognize your role and give it a rest. The economic fundamentals are sound and you know it...stop pandering.

    June 9, 2008 at 5:38 pm |
  200. KAWAN PREVOST

    he thinks the fundamentals of the economy is strong. hahahaha
    this guy is funny

    June 9, 2008 at 5:38 pm |
  201. Vicky

    what planet did McCain come from? I guess with a rich wife he doesn't need to be concerned about what the rest of us worry about...gas and food prices, devaluation of our homes, job security. That old boy ain't right in the head.

    June 9, 2008 at 5:40 pm |
  202. Trudy D Jara

    Our economy is stretched like a balloon about to burst. Even this woman on a fixed income can see China's invasion without a fight.
    We need self reliance – ASAP.

    June 9, 2008 at 5:40 pm |
  203. Bob McGuire

    That strong "sound" you hear is the dollar crashing, the DOW crashing, the Chinese cheering (and laughing) and the rich just quietly counting.

    Bob
    Melbourne, FL

    June 9, 2008 at 5:40 pm |
  204. Joy Dugan

    Gail from Arizona – I simply cannot believe that you will vote for McCain over Obama if Clinton is not on the ticket. McCain is against everything Hillary is for. Obama is for everything Hillary is for. Are you thinking straight???

    June 9, 2008 at 5:40 pm |
  205. Steve Souter

    To all posters who cry the economy is not strong, but are against drilling in ANWR and drive SUVs – you get what you deserve!

    I am sick to death of the left-wing fear mongering over the economy which is in the tank in large part over the left's environmental fear mongering. President Bush and the GOP has been trying to drill for years, but Democrats care more about the Alaskan caribou than the single mother trying to fill her gas tank !

    June 9, 2008 at 5:40 pm |
  206. Bob

    Jack,
    McCain suffers from the same problem as Bush, they both believe their own BS. They are both out of touch with reality.
    Bob in Kansas City

    June 9, 2008 at 5:40 pm |
  207. Bailey in Cambridge, MA

    Yes, you are right about quarterly employment statistics and day-by-day change in the stock market. But these are short-term adjustments that have little to do with government policy and fundamentals, and more to do with the fact that America has been spending more than it earns and importing more than it exports for years. We are now in an adjustment to those imbalances. But Americans are still among the world's best managers, engineers, doctors, lawyers, venture capitalists, sales people, and even journalists (that's you, Jack) – those are the fundamentals that make the long-term picture for the economy strong.

    June 9, 2008 at 5:41 pm |
  208. I am right

    First of all, people have no idea how the economy works, let alone if it has a strong foundation. Polls that poll people on things they are clueless about are very misleading and inappropriate. I have no way of answering the question on whether the economy has a strong foundation. I do know that gas prices have very little to do with whether we have a strong economy. I know that inflation and the unemployment rate are very good indicators of the general economy and they are both at very respectable levels. Are there things that need addressed? Of course there are. Is the sky falling? Of course not.

    June 9, 2008 at 5:41 pm |
  209. SARGE

    Say it enouph times people will belive it. The ecomony is strong. The ecomony is strong...etc.
    When prices accross the board go up , and jobs go overseas, with the deficent in the trillons, how does that make for a strong ecomony?

    June 9, 2008 at 5:41 pm |
  210. CNN = DEMOCRAT LOVERS

    Yes, McCain doesn't know anything about the economy...but YES, our economy is still very strong. And yes I have a MBA in Economics...

    Any level headed, knowledgable American would know that we are in a rough patch just like we have been in before and we will bounce out of it just like we have in the past. This isn't our downfall folks! I don't care which guy is prez...we'll be fine!

    BTW – Jack - why don't you come out and say it? "I'm voting for any Democrat!!!" I haven't seen you try to trash anything Obama has said? I'm tired of CNN supporting the Democrat ticket. I'm switching to another news agency...

    I sincerely believe that we need a third party in this country. Who would like to start one with me?

    From an Independent.

    June 9, 2008 at 5:41 pm |
  211. John

    Jack,
    Your 'left-sidedness never ceases to amaze. The reason that the majority of Americans think the economy is heading toward a recession is because they don't watch the detail, nor do they understand what is really occuring. The fiscal policy of the administration isn't crippling the economy – rather it is the monetary policy of the Fed that is having an impact. Low interest rates contribute to a devalued dollar, rising commodities like oil, and poor investment choices like those in subprime mortgages, which in turn leads to major companies laying off employees. The stock market is actually is showing positive growth, despite the 'doom and gloom' of people who claim to understand the economy trends.
    If McCain can enact the 'strong dollar' policy he promotes, we'd all be better off. If Obama enacts his tax increases for corporations, the wealthy, and capital gains, it will be more of the same-more layoffs, slow growth, and a lack of investment.

    June 9, 2008 at 5:41 pm |
  212. Jeff

    Jack, the statement made by McCain about the economy only shows how out of touch he is with the American people. McCain should also stop talking about experience and good judgement, he had proved to us that he cannot make any good judgement by given his blessing to the Iraq war. Obama, though young, proved that he has the experience and can make a good judgement by refusing to support the war.

    June 9, 2008 at 5:41 pm |
  213. Rosemary Spokane WA

    Jack, I've been watching the situation room and I'd like to comment about McCain. Being a retired woman, and feeding my family on a disability check, I would like to say if it would be possible to get a loan from McCain and his wife for when I drive my car to the grocery strore, to buy a loaf of bread and a gallon of milk? It appears that with the state of the economy being so good he could at least afford to give us the money and with things so good I should be able to pay back the loan in no time!

    June 9, 2008 at 5:41 pm |
  214. Jeff

    Jack:

    Mmmmm.... CNN's poll today indicates 83% of the respondents think the economy is "poor". John McCain just doesn't get it. He is totally out of touch. I find it hard to believe that a man running for President has such a difficult time understanding the reality of the economic situation we find our country facing. His comprehensin of the economic situation is frightening. It reminds me of the good ol' Keating days!

    June 9, 2008 at 5:41 pm |
  215. The Little Guy from Fayetteville

    John McCain is absolutely right...for anyone who makes a nine figure salary, the fundamentals of our economy are very strong. But, who could blame him for his biased rational considering he is the proud spouse of the Chairperson of the largest distributor for Anheuser-Busch.

    Wake up, Senator McCain. I understand the color of the sky in your world is green, and rightfully so, but people are struggling in the real world.

    June 9, 2008 at 5:41 pm |
  216. Jason from TX

    You know what is scary Jack is he is serious. He has No clue about whats going on down here with the middle class. And if disfranchised Hillary supporters want to vote for that guy, then they were never true Democrates in the first place.

    June 9, 2008 at 5:41 pm |
  217. Ajay

    Cafferty, you're playing word games here. He said the "fundamentals" of the economy are strong. That's a much different issue then how good our economy is doing.

    For example, Kobe Bryant is fundamentally a good basketball player (i.e. he has the tools, skills, etc.) However, he did not play well in Game 1 of the finals.

    So our economy has the natural resources, talent, etc. to do well but for whatever reason is not doing well now. Understand the difference?

    June 9, 2008 at 5:41 pm |