September 16th, 2008
08:05 AM ET
6 years ago

McCain still backing away from 'strong fundamentals' statement

McCain appeared on CNN's American Morning Tuesday.
McCain appeared on CNN's American Morning Tuesday.

(CNN) – Republican presidential candidate Sen. John McCain continued to back away from his assertion that the "the fundamentals of our economy are strong" during a CNN interview Tuesday.

Watch McCain on American Morning

On Monday, after taking heat from Sen. Barack Obama's campaign for his earlier statement, McCain adjusted his language to say the American worker was the strength of the economy.

Watch: McCain's economy comment hammered

On Tuesday, McCain said the U.S. economy will rebound with the help of the American worker, which he called "the fundamental strength" of the U.S. economy.

The problems with the American economy are the result of rampant government spending and poor government checks on corporations, McCain said.

"I'll restrain spending. That's the reason our economy is in trouble today," McCain said.

McCain also said the U.S. is "the victim of greed, excess and corruption on Wall Street," and the senator said he foresaw the crises with Fannie Mae and Freddie Mac two years ago.

"The Fannie and Freddie thing was a very serious problem and we had to work on it," McCain recalled saying then.

The regulatory agencies charged with monitoring Wall Street, which he called outdated, have been "asleep at the switch the last few years." Those agencies should evolve to the global economy, he said.

"We have to fix this alphabet soup of regulatory agencies that's left over from the 1930s," he said.

Asked if Obama's economic plan did more for the middle class than his own, McCain flatly said no. He also said one of the greatest hindrances to the middle class is its inability to get "affordable and available" health care.


Filed under: John McCain
soundoff (300 Responses)
  1. Irene

    again, my comments are not going up..........WHY?

    September 16, 2008 09:35 am at 9:35 am |
  2. Spencer from VA

    Because he is out of touch. Same Washington ideas.

    September 16, 2008 09:36 am at 9:36 am |
  3. pat C.

    just shows this jerk knows nothing about the economy and makes a fool of himself and then gets whispers in his ear as to what he said wrong and made to get back out there and fix his oops!
    is his speech writer going to run the government for him if he is elected? if so then why didn't his speech writer just run for president? he seems to know more of whats going on than old john boy!

    September 16, 2008 09:36 am at 9:36 am |
  4. Anonymous

    Anyone buying this? Anyone?

    September 16, 2008 09:36 am at 9:36 am |
  5. Bob Indianapolis, IN

    Gosh, I sure hope one of the main architects of the Iraq War and torture boy supreme, Don Rummy Rumsfeld comes out for Johnny Mac! What a shot in the arm that would be...

    September 16, 2008 09:37 am at 9:37 am |
  6. marta

    He was so transparently using scripted talking points . You could see after every sentence he breathed a sigh of relief that he actually said what his campaign told him to say. Then he gave that silly smirk. He is not what we need as a leader.

    September 16, 2008 09:37 am at 9:37 am |
  7. People Like Fannie And Freddie?

    John just said, "We've got to make sure that people like Fannie and Freddie". He then corrected himself to call Fannie and Freddie organizations. What a moron.

    September 16, 2008 09:37 am at 9:37 am |
  8. McCain for Pres.

    He is explaining his statement not backing away from it. BIG DIFFERENCE>

    September 16, 2008 09:38 am at 9:38 am |
  9. bill from michigan

    Old guy keeps slipping. Quick get Sarah back here to save him with another distraction. That's the trouble with gettin' old you tell people what you really think. In other words screw the working person. I got my 100 million and 9 houses.

    September 16, 2008 09:38 am at 9:38 am |
  10. Spencer from VA

    And did he even mention that Hewlett Packard is laying off workers as well. Isn't one of his economic advisers the former CEO of HP. I see where McSame's special interest are.

    OBAMA/BIDEN 08

    September 16, 2008 09:38 am at 9:38 am |
  11. Helene

    Old McCain does not have a clue about the economy. Nor on anything else.

    September 16, 2008 09:38 am at 9:38 am |
  12. JOHN

    Of course he's backing away. He was wrong. He is wrong. Just a shame that he has to learn that he was wrong by listening to a statement from the Obama campaign. I guess the economy seems pretty sound if you're a Bloomberg billionaire or if you own 10 McCain homes.

    Even Warren Buffet thinks McCain is wrong.

    September 16, 2008 09:39 am at 9:39 am |
  13. Tom in Delaware

    Didn't seem to stop the 'Bots from donating 66 million dollars now did it???

    September 16, 2008 09:40 am at 9:40 am |
  14. DrKooler

    Senator McCain, I am terribly disappointed with the recent turn of events in your campaign. My heart bleeds for you at the way the extremists and hypocrites in the GOP have hijacked the process from you. I ask you a question, can you look at yourself in the mirror and honestly not be ashamed? IT IS INDEED VERY SAD. Please take the path of honor and take responsibility today, it is not too late for you to lose with your honor still intact. A word is enough for the wise!

    September 16, 2008 09:40 am at 9:40 am |
  15. Helen

    How is it going to rebound with the American Worker when so many people do not have jobs. What kind of plan does he have to jump start the economy. WE NEED JOBS MCSAME. PEOPLE ARE HURTING AND THEY DON'T HAVE SEVEN HOMES LIKE YOU.

    OBAMA/BIDEN 2008

    September 16, 2008 09:40 am at 9:40 am |
  16. mitchell

    no he's not. i heard him on your show this maorning and he still said the same thing. dont lie for him ,cnn!

    September 16, 2008 09:42 am at 9:42 am |
  17. Judy from NC

    He said the same thing before and he said it again yesterday. McCain just doesn't get it!

    September 16, 2008 09:42 am at 9:42 am |
  18. Andrew

    Here goes McCain lying again. First he says one thing then realizes this is not where the public is then does a 180 just like he always does. The man has no integrity and puts himself above the country. Obama has some big expectations to fulfill.

    September 16, 2008 09:43 am at 9:43 am |
  19. Mark Felton

    Say what you mean or mean what you say!

    September 16, 2008 09:43 am at 9:43 am |
  20. brian

    When is McCain going to realize that spending, taxes and gas prices have nothing to do with the bank failure and housing crisis??

    September 16, 2008 09:44 am at 9:44 am |
  21. Never let them see you sweat....

    ENOUGH IS ENOUGH...
    WITH ALL THE PREJUDICES IN AMERICAN, I AM NOT SURPRISED THAT PEOPLE STILL HAVE FAITH IN THE REPUBLICAN PARTY! MCCAIN CAMP HAS BEEN ALLOWED TO CONTINUE TO TELL HALF TRUTHS OR OUT & OUT LIES. ENOUGH.
    AMERICANS SHOULD NOT ALLOW THEIR PREJUDICES OR HATES TO COST US ANOTHER 4 MORE YEARS OF PAIN AND SUFFERING.

    September 16, 2008 09:44 am at 9:44 am |
  22. Dana

    Too late Mccain,

    You said what you truly meant!! You and your cronies really do believe the economy is fundamentally strong. You believe this because you don't have to worry how your mortgage is getting paid, how food for your children are on the table or how you are going to put gas in your tank!! Obama was exactly right!! You are out of touch and you donot share the same social affairs as the every day joe blow!!

    Serving your country and being a hockey mom is not going to pay my bills or put food on my table!! We need jobs created. This economy is broken and you Mccain/Palin can't fix it!!

    September 16, 2008 09:44 am at 9:44 am |
  23. Boston

    McCain must be tired of jumping over the fence every time he opens his mouth. Will he ever be able to say I made a Mistatement? lol

    September 16, 2008 09:45 am at 9:45 am |
  24. jake, San Francisco, CA

    I am sure McCain will say tomorrow that he doesn't remember saying 'the fundamentals of the economy are strong'

    Obama said 'change', McCain copied and said 'change'. Obama said 'enough is enough' McCain said 'enough is enough.'

    Frankly, does McCain know what he's saying, does he know what side of the argument he's on?

    It's terribly hard to fight against someone who's on both sides of the argument...terrible, very sadening!

    September 16, 2008 09:45 am at 9:45 am |
  25. WOW - CONCERNED WOMEN

    TO LATE..............................

    WE HEARD YOU LOUD AND CLEAR ..........................................

    DON'T TRY TO CLEAN UP WITH ANOTHER LIE ............................

    PLEASE GIVE US A LITTLE RESPECT MCSHAME................................

    WHY THIS RACE IS TIED REALLY LOOKS AT THE CORE OF AMERICAN RACISM. (SHAMEFUL)..............................................................

    CLEARLY YOU CAN'T COMPARE MCCAIN/PALIN TO OBAMA/BIDEN TICKET AMERICA...........................CAN YOU?...............................................

    THATS WHY GLOBALLY WE ARE NOT RESPECTED ........SMALL MINDED PEOPLE. SHOULD WE REALLY ALLOW SMALL TOWN USA TO RUN THIS COUNTRY WITH THEIR BACKWARD THINKING ?.....(SAD SAD SAD SAD SAD SAD)

    OBAMA/BIDEN 08

    September 16, 2008 09:45 am at 9:45 am |
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