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Dems Pushing Conflicting Messages on McCain

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September 16, 2008 12:14 PM

ABC News' Z. Byron Wolf reports from Capitol Hill: Democrats are straddling two, conflicting arguments in their criticism of Sen. John McCain on the economy. With one foot, they're kicking forward the notion that McCain is a new Herbert Hoover, deluded and talking about a strong economy even as the stock market crumbled. At the same time, they're telling Americans there's not depression in the offing and "Don't panic."

On the Senate floor this morning, the Majority Leader Harry Reid, D-Nev., launched into a lengthy analogy comparing McCain, who Democrats have pounced on for yesterday saying the fundamentals of the US economy are sound, to Herbert Hoover, the Republican President who oversaw the stock market crash in 1929 and the advent of the Great Depression.

"On the morning of October 30, 1929, President Herbert Hoover awoke the day after the biggest one-day stock market crash in American history, surveyed the state of the U.S. economy and declared, "The fundamental business of the country, that is production and distribution of commodities, is on a sound and prosperous basis," said Reid, quoting Hoover.

He went on: "In the coming weeks and months, President Hoover remained in an economic bubble, unaware of the extreme suffering of ordinary Americans -- even declaring that anyone who questioned the state of the economy was a "fool."  For Herbert Hoover, ignorance was bliss. And it wasn't until the American people replaced this out of touch Republican president with a Democrat, Franklin Roosevelt, that our nation's economic recovery began."

Reid, ticked off the woes on Wall Street, "With our financial markets reeling, the American people are wondering whether they will lose their jobs, whether they will be able to pay their child's next tuition bill, whether their pension and retirement savings will be safe."

But this is a slippery slope. A Pandora's box. A cat in a bag. If the economy is truly unsound, what's a taxpaying voter with a 401k and a stock portfolio to do? Panic?

It may be fine to compare McCain (fairly or not… he did clarify his "fundamentals are sound" comment repeatedly over the past day) to Hoover, but Democrats don't want a run on the skittish market either.

So Reid dialed things back.

"There is no reason to think we are headed into an economic depression," Reid said. "There is no reason to panic.  Yet one Senator -- John McCain -- woke up yesterday morning, surveyed the state of the U.S. economy, summoned the ghost of his fellow Republican, Herbert Hoover, and declared, "The fundamentals of our economy are strong."

Question - if there is truly no reason to think we are headed into an economic depression and truly no reason to panic, aren't the fundamentals, on some level, strong?

September 16, 2008 | Permalink | User Comments (606)

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How in the world is this a conflicting message?

Of COURSE the Democratic leadership is telling people not to panic. That is the RESPONSIBLE thing to do. Panic just leads to MORE chaos.

The fact of the matter is.... our economy is NOT on Solid ground... at ALL. All this is evidenced by the collapsing housing prices, sinking stock prices, devaluation of our dollar, the crumbling of 100+ year old institutions etc...etc... However, if a leader of the US tells the people to PANIC then we go into a depression OVERNIGHT. People make runs on banks and then all banks collapse, including the strong ones like B of A and Wells Fargo and a couple others. You do NOT want to start a run on the bank! So yes, of course you're going to assure people there's no reason to panic.

But to flat out deny that our economy is not on solid ground is lunacy. We are, in fact, in trouble. There's no way around it. For anyone to say otherwise is ridiculous.

Posted by: CONCERNED CITIZEN | Sep 16, 2008 12:43:03 PM

George Bush has been in office for 7 1/2 years. The first six the economy
was fine.

About two years ago:

1) Consumer confidence stood at a 2 1/2 yr. high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%;
4) the DOW JONES hit a record high--14,000 +
5) Americans were buying new cars, taking cruises, vacationing
overseas, living large!...

But Americans wanted 'CHANGE'! So, in 2006 they voted in a Democratic
Congress & yep--we got 'CHANGE' all right!.....
1) Consumer confidence has plummeted;
2) Gasoline is now nearly $4 gallon and climbing;
3) Unemployment is up over 5%.
4) Americans have seen their home equity drop by $12 TRILLION
DOLLARS & prices are still dropping;
5) 1% of American homes are in foreclosure; and
6) THE DOW is probing another low~~11,300--$2.5 TRILLION DOLLARS
HAS EVAPORATED FROM THEIR STOCKS, BONDS & MUTUAL FUNDS INVESTMENT
PORTFOLIOS!

YEP , IN 2006 AMERICA VOTED FOR CHANGE!...AND WE SURE GOT IT!!!....

NOW THE POLLS SAY OBAMA IS GONNA BE 'THE MAN'--CLAIMS HE'S GONNA REALLY
GIVE US CHANGE!!....

JUST HOW MUCH MORE 'CHANGE' DO YA THINK WE CAN STAND???.....

Posted by: Gene | Sep 16, 2008 12:44:10 PM

What's this? Now McCain is claiming that the Blackberry is his responsibility? Ha! But the corporate media will not touch him the way they sucker-punched Al Gore with the Internet thing. McCain is the media's sacred cow.

Posted by: Frank | Sep 16, 2008 12:44:26 PM

Debra, before you going throwing those socialism charges too far, care to explain how McCain plans to end golden parachutes?

Posted by: Paul | Sep 16, 2008 12:44:49 PM

I just wanted to laugh when I read two reports today. McCain said:

1. We will form a committee to look into the problems in Wall Street
2. We will form a crisis committee to deal with the economy.

Ok...what happend to smaller, less intrusive government that both he and Palin have been pandering.

BTW, where is she, back in the hotel getting "crammed" on next weeks agenda?

Posted by: formerhillary | Sep 16, 2008 12:45:16 PM

Why would somebody like McCain, who has a wife that flaunts her wealth in front of everyone, with $312,000.00 outfits, care about the economy of the average American? "This old man, he plays dumb, because he has it made, and is very numb."

Posted by: jms55 | Sep 16, 2008 12:45:29 PM

There is a big difference from "things aren't ok" to "depression". "Don't panic" is great advice but don't sit back and think our poor education record as measured by high school graduation rates or academic performance justifies that things are ok.

Posted by: xmarks | Sep 16, 2008 12:46:31 PM

Gene: "George Bush has been in office for 7 1/2 years. The first six the economy was fine."

You mean the first 7 1/2 years when people were being advised to take adjustable mortgages and when the Republicans were pushing for further deregulation?

Posted by: Paul | Sep 16, 2008 12:46:59 PM

Gene...are you blaming everything on the Dems. It took more than two years to make this mess.............

Posted by: militarymom | Sep 16, 2008 12:47:14 PM

Paul....GOOD ONE...........WELL SAID...

Posted by: militarymom | Sep 16, 2008 12:47:52 PM

You all are so worried about your capital gains that you think McCain is going to protect. Guess what, it is going to be a long time before you see capital gains if you vote for a President who knows nothing about the state of the economy. This is not like when Bush took office and things were so good that it took eight years to derail the markets. The markets are derailed and the American people need educated people with financial and economic backgrounds to stabalize the markets. Not an old guy and uneducated mom who will have to learn on the job.

Posted by: tm | Sep 16, 2008 12:49:06 PM

btw...my company told me a year agao that everything is fine and by Christmas we were in chapter 11...

GOOD ADVICE? notta

Posted by: newvoter | Sep 16, 2008 12:49:33 PM

Gene, Thanks for the great post. Unfortunately democrats are blind to acutal facts. They will keep blaming Bush instead of our incompentent congress.

Posted by: Doug | Sep 16, 2008 12:49:38 PM

Since Democrats took control in 2006 gas prices have gone thru the roof, federal spending has gotten worse, Democrats have raised the federal debt ceiling - after promising they wouldn't, and Democrats failed to deal with the growing housing crisis while they controlled Congress. Their lack of action has led to the market crisis and loss of consumer confidence we are seeing now. Harry Reid and Nancy Pelosi have turned Congress into a laughing stock, it is time to get rid of these dead beat democrats for good!

Country first, McCain/Palin 08

Posted by: Norman | Sep 16, 2008 12:49:59 PM

Where do you get this, your just not listening, The dems said it all along MCbush lives in a world all his own with the elite rich $5,000,000 yearly income is middle class in mcbushes book now thats a world of his own . Tell that to the poor male or female holding down 2 minimum wage jobs just to get by and don't blame the people I am sick of that, ever hear of being told you are to qualified to do a job or not qualified enough, maybe someone should tell both of the republicans they are not qualified to do the job they want the USA citizens to hire them for. Not in this time, not in this place, not ever.

Posted by: Rose Szymanski | Sep 16, 2008 12:51:08 PM

formerhillary: "Ok...what happend to smaller, less intrusive government that both he and Palin have been pandering."

Have they been? That struck me as a blast from the past. I didn't know the Republicans were still pretending to be a small government party.

But undoubtedly if McCain was touting smaller government, some Republicans would believe it, even though the largest increases in government spending traditionally come under Republican administrations.

And as for the less intrusive part... well, um, sure... less intrusive for those who live a "correct" kind of life. You know, those who don't want to go to the library and read any books that may be unacceptable to a Pentacostalist.

Posted by: Paul | Sep 16, 2008 12:51:10 PM

Enough America. The term "republican" is a shame today. It stands for failiures, lies, and cowardice. A change is needed, an immediate turn-around, before 4 more yrs. of the same rot sink America.

Posted by: SJ Vettom | Sep 16, 2008 12:51:48 PM

It is not cool to continuously call names on blogs. Democratic Party members are respectful enough to maintain either GOP, or Republican.
It reveals the true nature of a person when they begin their blogs calling nasty names and continuing the message of hatred and distrust all the way through, with no point other than a "mine is better than yours" view point.
Please find a way to rise above your circumstances, and stick to issues, not name calling.
Or is it simply that as you see your party leader doing, so shall you?
p.s.
I think that you know who I am addressing this to, so I will not redress you on a public forum.

Posted by: pamela | Sep 16, 2008 12:51:53 PM

Debra,
During the six year rein of Republican rule the government stayed out of business.
Good thing we kept the government out of Wall Streeet!!! LOL. Repubs deregulated everything keeping gov out of private business. Now you dumb ass will pay with your taxes to bail them out. While the CEO's collect huge compensations. But I am sure your still be happy with the $200.00 tax cut Repubs gave you. hehe

Posted by: Tim | Sep 16, 2008 12:53:12 PM

Doug: "Gene, Thanks for the great post. Unfortunately democrats are blind to acutal facts."

Man, the things you guy call "facts." You really believe all our economic problems are a result of a) the last year and a half, and b) Democrats controlling Congress?

If so, I've got a bridge to nowhere to sell you.

How about this "fact" of coincidental juxtaposition. John McCain has been in Washington since the growth of 90 percent of our national debt, ergo its his fault! Lol.

Posted by: Paul | Sep 16, 2008 12:53:59 PM

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