"John McCain was telling the truth when he said that economics wasn't his strong suit. In response to what many economists have called the worst financial crisis since the Great Depression, the Republican nominee has sounded -- and let's be honest here -- totally, embarrassingly and dangerously clueless."Robinson spells out the ways in which McCain is horribly out-of-touch and sums it up thusly:
"Here's something that really ought to grab everyone's attention: McCain supports George W. Bush's idea of channeling at least some Social Security funds into "personal accounts" that individuals would invest on Wall Street. Some of that money would have been entrusted to firms such as Bear Stearns (failed), Lehman Brothers (failed) and Merrill Lynch (sold at a fire sale). Imagine what this crisis would be like if Americans' Social Security benefits were evaporating along with their housing values and their 401(k) accounts.This is the man who's going to reform the economy?"
Go read the whole thing.
1 comment:
i really like robinson. and love this piece.
but you probably guessed that. ;)
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