The economy, admittedly, is not McCain’s strong point. McCain’s opponents in the primary campaign (especially Romney) attacked McCain incessantly on the issue of his lack of knowledge and experience relating to the economy. However, McCain couldn’t defend himself since he admitted his knowledge of the economy was negligent. His statements resonated with voters as he stated, “The Issue of economics is not something I’ve understood as well as I should” (Boston Globe 12/18/07). In fact, according to CNN exit and entrance polls in the primary election, only half of the 25 states polled thought McCain was the strongest candidate on the subject of the economy (it is worth mentioning that many of the polls took place after other candidates had already dropped out of the race, diminishing the competition McCain had in this area).
This isn’t the only statement regarding the economy McCain is most likely regretting now that the economy is once again the #1 issue on the campaign trail. He dismissed concerns regarding the mortgage crisis in January saying, “Even if the economy is the, quote no. 1 issue, the real issue will remain America’s security. And if they choose to say, ‘Look, I do not need this guy because he’s not as good on home loan mortgages or whatever it is, I understand about that, I will accept that verdict. I am running because of the transcendental challenge of the 21st century, which is radical Islamic extremism” (New York Times, 1/28/08).
Furthermore, In January McCain stated, “I don’t believe we’re headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong” (GOP Debate, Myrtle Beach). Unfortunately, 81 percent of the public later disagreed with McCain as those surveyed thought the country was already in a recession (NBC/WSJ Survey, 4/24/08). This statement sounds very familiar to those who are following the race today. On September 15 McCain again declared, “the fundamentals of our economy are strong,” despite Lehman Brothers declaring bankruptcy and Bank of America buying Merrill Lynch. The Dow Jones industrial Average ended up losing 504 points at the close of the day. To date, McCain has failed to prove that he is the candidate to lead us through this economic crisis.
This isn’t the only statement regarding the economy McCain is most likely regretting now that the economy is once again the #1 issue on the campaign trail. He dismissed concerns regarding the mortgage crisis in January saying, “Even if the economy is the, quote no. 1 issue, the real issue will remain America’s security. And if they choose to say, ‘Look, I do not need this guy because he’s not as good on home loan mortgages or whatever it is, I understand about that, I will accept that verdict. I am running because of the transcendental challenge of the 21st century, which is radical Islamic extremism” (New York Times, 1/28/08).
Furthermore, In January McCain stated, “I don’t believe we’re headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong” (GOP Debate, Myrtle Beach). Unfortunately, 81 percent of the public later disagreed with McCain as those surveyed thought the country was already in a recession (NBC/WSJ Survey, 4/24/08). This statement sounds very familiar to those who are following the race today. On September 15 McCain again declared, “the fundamentals of our economy are strong,” despite Lehman Brothers declaring bankruptcy and Bank of America buying Merrill Lynch. The Dow Jones industrial Average ended up losing 504 points at the close of the day. To date, McCain has failed to prove that he is the candidate to lead us through this economic crisis.
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