Thursday, July 10, 2008

McCain Advisor: It's only a "Mental Recession"

McCain Advisor, Phil Graham, says stop whinnig, its Only a "Mental Recession"

Former Sen. Phil Gramm, a key economic adviser to McCain, told the Washington Times that worries about the sluggish US economy sinking into a recession were just in everybody's head.

"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."

See Also:
"Foreclosure Phil Gramm": How John McCain's Economic Advisor Helped Engineer the Mortgage Crisis

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