This is John McCain on the soundness of the U.S. today, after this happened…
I don't think I could say it better than Daily Kos' BarbinMD…
Boy, John McCain wasn't kidding when he said: "The issue of economics is not something I've understood as well as I should."…
Well, sure. If you ignore today's Wall Street meltdown, the $7.7 trillion in national debt, the $10 or so billion we're spending in Iraq every month, and the recent taxpayer-funded bailout of Freddie Mac and Fannie Mae, things are going great.
And it's not just insurgent liberal bloggers attacking McCain's un-understanding of how money works.
In an interview with Bloomberg Television Friday, the legendary ex-chairman of the US central bank said the nation could not afford 3.3 trillion dollars of tax cuts proposed by McCain without matching cuts in spending.
Greenspan, a long-time friend of McCain and a Republican, said about the Arizona senator's plans to extend massive tax cuts imposed by President George W. Bush: "I'm not in favor of financing tax cuts with borrowed money."
When you're a Republican, and you can't even get Alan Greenspan to go along with your economic policies, something's really, really wrong with your economic policies.
Or you haven't been feeding him enough spiders. (But, really, who can afford spiders in this economic climate?)
Tags: Alan Greenspan, Economy, John McCain