The US economy is almost literally melting down before our eyes. Fannie Mae and Freddie Mac are taken over by the US government. Lehman Brothers going bankrupt. Merrill Lynch has had to sell itself to Bank of America to save itself. A.I.G. is is asking the Federal Reserve for $40 billion to keep afloat. The list goes on.
And yet Donald Lufkin, economic advisor to the McCain campaign, writes this Op-Ed in the Washington Post over the weekend, echoing Phil Gramm’s previous comments about America being a bunch of whiners. He goes so far as to make the statement “Things today just aren’t that bad.”
Really? Not that bad?
Tell that to my neighbor who lost his job when he was laid off two months after moving to Michigan and buying a house. Tell that the to millions of Americans who are losing their homes to foreclosure. Tell that to the millions of people like me who owe more on their homes than they are worth. Not because we made any mistakes but because home prices in our neighborhoods are dropping so fast that our equity is evaporating.
“Things today just aren’t that bad”???
At least we know who McCain is listening to when he tells us the US economy is fundamentally strong. He’s listening to yet another out-of-touch rich white guy from Wall Street.
I’m just sayin’…