Phil Gramm: Recession Mental, America Is Nation Of Whiners

Phil Gramm, John McCain's campaign financial adviser, was is is one of the most corrupt senators ever serving in the Senate. ---BBB

Phil Gramm: Recession Is "Mental," America Is "Nation Of Whiners"
The Huffington Post
July 10, 2008

In an interview with the Washington Times, McCain's top economic adviser Phil Gramm tells America to suck it up and stop complaining about the economy:

"You've heard of mental depression; this is a mental recession," he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. "We may have a recession; we haven't had one yet."

"We have sort of become a nation of whiners," he said. "You just hear this constant whining, complaining about a loss of competitiveness, America in decline" despite a major export boom that is the primary reason that growth continues in the economy, he said.


Gramm, whose extensive ties to Enron proved problematic during the firm's implosion several years ago, was serving as a lobbyist for the international banking and subprime mortgage giant UBS until April. As Mother Jones documented, Gramm played a key role in the subprime meltdown during his time in the Senate.

Just yesterday, McCain himself said "I would imagine that we are" in a recession. But he and Gramm are still on the same page: in April McCain said "a lot of our problems today are psychological."

Update: Democratic National Committee spokesperson Karen Finney is already out with a statement:

What John McCain, George Bush Phil Gramm just don't understand is that the American people aren't whining about the state of the economy, they are suffering under the weight of it -- the weight of eight years of Bush-enomics that John McCain and Phil Gramm have vowed to continue. How dare John McCain and his advisers so callously dismiss the challenges the American people face. no wonder voters feel John McCain is out of touch, he and his campaign don't even understand the everyday issues Americans are dealing with.
Update: Obama's Campaign responds to Gramm's "mental" recession comments:

"One of Senator McCain's top economic advisors may think that when people are struggling with lost jobs, stagnant wages, and the rising costs of everything from gas to groceries, it's merely a 'mental recession'. And Senator McCain may think it's sufficient to offer energy proposals that he admits will have mainly 'psychological' benefits. But the American people know that our economic problems aren't just in their heads. They don't need psychological relief - they need real relief - and that's what Barack Obama will provide as President," said Obama campaign spokesman Bill Burton.

McCain Response: The McCain Campaign has already tried to distance itself from Chief Economic Advisor Gramm's comments:

"Phil Gramm's comments are not representative of John McCain's views. John McCain travels the country every day talking to Americans who are hurting, feeling pain at the pump and worrying about how they'll pay their mortgage. That's why he has a realistic plan to deliver immediate relief at the gas pump, grow our economy and put Americans back to work."