Gramm about the recession: "I'm not going to retract any of it. Every word I said was true."

[Hope And Change]

John McCain

Gramm Stands by Recession Comments

Former Sen. Phil Gramm, standing by Republican presidential hopeful Sen. John McCain (R-Ariz.) in this June, 2007, photo, stood by his some of his controversial comments, too. (Associated Press)


By Jonathan Weisman
Former senator Phil Gramm -- under fire for saying the United States has "become a nation of whiners" -- said in an interview today that he meant the nation's leaders were whiners, not its citizens.

But the top adviser to Sen. John McCain repeated his assertion that the economy is not in recession, and he declined to retract the comments quoted yesterday in the Washington Times.

"I'm not going to retract any of it. Every word I said was true," Gramm said.

Gramm stirred up controversy when he called the nation's economic malaise a "mental recession," then added, "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."

Speaking today from New York, where he was meeting with the Wall Street Journal Editorial Board on McCain's economic policies, Gramm said the nation's economy was initially thought to have grown by an anemic 0.6 percent in the first three months of the year. That was revised up to 0.9 percent, and again to 1.0 percent.

"Look, the economy is bad. It is far below what we Americans have a right to expect, but we are not in a recession," he said. "We may or may not have one in the future, but based on the data we are not in a recession. But that does not mean all this talk does not have a psychological impact."


http://blog.washingtonpost.com/the-trail/2008/07/10/gramm_stands_by_recession_comm.html#more">Read the entire article here

[bunnies]

1. Excellent! Keep it up, jackass! nt

[rox63]

2. They look like two extremely grumpy old men in that photo n/t

[SuperTrouper]

12. LMAO!! You read my mind!

[WCGreen]

24. With full depends...

[blondeatlast]

3. Cue the Dem surrogates--get all over this NOW, PLEASE!

MAKE THIS AN ISSUE--and our candidate doesn't even need to do it, but GET THE SURROGATES ON THIS. Please!

[Champion Jack]

4. These guys just don't get it do they?

[hobbit709]

5. The reason they're wearing ties

is to keep their foreskins from riding up over their chins.

[Gman]

6. Wonderful! When Gramm speaks, he speaks for McCain

and McCain can't wiggle out of it.

[redstate_democrat]

7. What a fucking rat bastard.

This is the same rat bastard that snuck the Enron loophole through during the Christmas vaca before Bush stole the election in 2000. This bastard couldn't care less about America, its people, or the financial solvency of this country. What a rat bastard he is. Gawd I can't stand him.

If McCain doesn't get rid of this lobbyist rat bastard, Obama should start running campaign commercials immediately with Gramm as the center focus.

Here is the TRINITY/

Bush -----> McCain <------ Gramm

BUSH MCCAIN GRAMM

The unholy trinity that is out to destroy America.

[Fleshdancer]

8. Gramm: Let Them Eat Cake

[GreenPartyVoter]

9. That'll endear him to all the hardworking folks who are feeling the financial pinch

[butterfly77]

10. Do these people really think...

that we believe their data...

[izquierdista]

11. Piggy, piggy, piggy

Gramm has all the dignity and bearing of a pig wallowing in the mud (or in his case, money). To try and get him to move off his position is to encounter high-pitched squealing and oinking, until you desist and let him lay.

Stupid as a sack of hammers, there is nothing new to anything he says. He just reaches into the big Republican sack of failed ideologies, knocks the shit off some miserable failure and offers it for sale yet another time.

[TwilightGardener]

13. Yayyy!! Love it!!!

[NYC_SKP]

14. Even US industries disagree with Gramm on energy issues.

While Phil Gramm says oil speculation is not to blame for high energy costs, I get this email from United Airlines:

snip:

An Open letter to All Airline Customers:

Our country is facing a possible sharp economic downturn because of skyrocketing oil and fuel prices, but by pulling together, we can all do something to help now.

For airlines, ultra-expensive fuel means thousands of lost jobs and severe reductions in air service to both large and small communities. To the broader economy, oil prices mean slower activity and widespread economic pain. This pain can be alleviated, and that is why we are taking the extraordinary step of writing this joint letter to our customers. Since high oil prices are partly a response to normal market forces, the nation needs to focus on increased energy supplies and conservation. However, there is another side to this story because normal market forces are being dangerously amplified by poorly regulated market speculation.

Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil futures contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs.

Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight. Together, these reforms will help cool the over-heated oil market and permit the economy to prosper.

The nation needs to pull together to reform the oil markets and solve this growing problem.

We need your help. Get more information and contact Congress by visiting:
www.StopOilSpeculationNow.com

[Egnever]

15. oh hell it was phil...

I was hoping it was lindsay. I want him and Inhoff gone so bad I can taste it and was hoping this would be his end.

[Diamonique]

16. What an idiot!

This man is talking about DATA having a psychological effect?!?!

How about $4/gallon gas? How about paying double at the supermarket? How about foreclosures? Yeah... those things sure have a psychological effect. I feel -- psychologically -- that I'm getting screwed from every direction, and I don't need no steenkin' data to tell me so!!!

How fucking stupid!

[SidneyCarton]

17. Set up the Guillotine...

Someone needs a haircut.

[blogslut]

18. I have a gift for you, Phil

I want you to have plenty:

[Danger Mouse]

19. Dear Mr. Gramm...I would call you a filthy pig, but I don't want to insult all the

good filthy pigs out there.

[vaberella]

20. Next to JJ, McCain's people have flushed any negativity about Obama with

the MSM for now. This is what these people think about the American people. Basically they think we're nothing at all.

[Fleshdancer]

21. Gramm suffers from foot in mouth disease:

Other stupid things Gramm has said:

"Has anyone ever noticed that we live in the only country in the world where all the poor people are fat?" — During his first Senate Campaign against Democrat Lloyd Doggett.

"We're going to keep on building the party (the Texas Republican Party) until we're hunting Democrats with dogs." — As quoted in Mother Jones, August 1995

"If you are willing to tackle the tough issues, you don’t need to worry about stepping on anyone’s toes; they will stand aside and shove you to the front.” — As quoted by former Gramm staffer Wayne A. Abernathy<3> September 12, 2002, before the Senate Committee on Banking, Housing and Urban Affairs.

"I have as many guns as I need, but I don't have as many guns as I want."

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

[tishaLA]

22. I remember Gramm being an absolute asshole when he was in the senate

it's good to see he hasn't changed. And he's an adviser to someone as bellicose as himself.

[seasat]

23. Talk about an elitist

Sure the economy is growing if you're a rich asshole like Gramm or McCain. The rest of us are struggling to make ends meet. We don't have enough money to fill a simple saving account unlike the folks that Gramm's bank helped create offshore accounts to hide their taxable income. We're trying to pay off the mortgages and have declining home values due to the mortgage crisis that Gramm's bank contributed to. We're having to pay out the nose just to fill our tanks to get to work due to the high price of gas that Gramm and his wife contributed to by creating that loophole allowing energy speculation. Phil Gramm would crap all over himself while cowering in corner sobbing if he had to live one day like the rest of us do.

[vaberella]

25. Marie Antoinette, reborn. "Bread they want? Who cares?!"

[depakid]

26. Gramm is one of the chief architects of this disaster!

Republicans sure know how to pick 'em.

[TwilightGardener]

27. The words "whiners" and "mental recession" need to become part of the campaign 2008 lexicon.

Just like 3 am and bitter.

[ErinBerin84]

28. agreed. and "under the bus"

[blondeatlast]

30. Indeed--and "mental recession" has so many possibilities beyond the original context,

especially concerning McCain.

[ErinBerin84]

34. so true! Whenever McCain starts to blink a million miles per minute

and has a visible "Ummm. Ummm.Ummm" moment, it's "oops, McCain is having another mental recession!" Or, he is a Mental Recession. And honestly, all of McCain's little posse (Leibermann, Lindsey) should be referred to as the Nation of Whiners. Every Sunday morning show..."Ah looks, it's the usual Nation of Whiners up to bat for today".

[global1]

29. He Sounds Elitist To Me......nt

[mrreowwr_kittty]

31. I personally think Gramm would make an OUTSTANDING veep choice

He even looks like Cheney!

[Fleshdancer]

32. I agree!

I wonder if the McCain website has a comments section where we can express our desire for him to choose Gramm! :bounce:

[leftynyc]

33. Wow - this ad just writes itself

Another out of touch puke. Just like poppy. Thankfully he didn't backtrack. This is a gift.

[high density]

35. I bet this gets 1/1000th the play of Rev. Wright's comments

And maybe 1/1000 is expecting too much.

[Renew Deal]

36. Phill Gramm is part of the Blame America First crowd.

:D