Lehman Brothers is bankrupt, Merrill Lynch is in the midst of a fire sale with Bank of America, taxpayers are now mortgage brokers after the government takeover of Fannie and Freddie. The US automakers are tanking and looking to taxpayers to back a bailout. Families across the country are losing their houses and can’t afford to gas up their cars to get themselves to the homeless shelters. So what does McCain and his posse of economic gurus think of our current economic situation?
Addressing today’s news of upheaval in America’s financial markets, McCain said this morning that, despite fears over the “turmoil” on Wall Street, “the fundamentals of our economy are strong.”
Or as McCain adviser Phil Gramm says, Waaaaaa!