(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The regulatory agencies charged with monitoring Wall Street, which he called outdated, have been "asleep at the switch the last few years."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.
Mcain seems to prove the point against himself. GOV spending ( war)and less regulations did this. Cheaper over seas labor- tax breaks for the same company that use the cheap labor- lower triaff for the product to come back here in bulk-sell the product to the same person you fire at a higher cost.
Eco 101, Nothing from nothing leaves nothing!
PALINODE: A formal statement of retraction.
" The American worker is the strength of our economy." ( unquote) The American workers here are losing their jobs by the thousands !!!?? That`s our strength ?????? That doesn`t make sense !!!! How many times have you delt with someone in another country via phone ??????
John to bad you lost it by saying that, the american people arent going to believe what you say. God will perform another task as Sarah said he did for the Iraq war. His task now will be to take you and Sarah out of this election. America dont need the likes of you two.
John McCain –
"Please ignore the fact that I was part of the ruling party that created and oversaw this mess. Please ignore the fact that I and my party laid the foundations for this crisis by removing market regulations.
Please ignore all that and believe that I am going to change everything by appointing my lobbyist friends and former Bush administrtion officials to key posts."
As Obama said – If you believe that, I have a bridge in Alaska you might be interested in.
You know thsi would almost be funny, but for the fact that there are many millions that support this man. Wall Street crumbles. The housing market crumbles. Unemployment rises, and he says things are fundamentally sound.
Do we need a Depression and the Stock Market to completely crash before the republicans and their ardent supporters realize that the last thing in the world we need is a republican in the white house?
NOW HE IS TRYING TO GIVE SPIN TO IT. TO WHOM HE IS GOING TO FOOL. WE KNOW WELL THAT HE DOES NOT UNDERSTAND THE PAIN OF THE REGULAR JOE.
John McCain...you are a joke, I'm sorry. I once had respect for you but that is all out the window now!
This man really makes me want to throw up.
This is not the first time for such a statement, we know what McCain is all about and his party know they are on the wrong side but just don't care. How can they say country first, it's just a shame where this contest has gone
SPENDING IS NOT THE SOLE REASON:
SUBPRIME MORTGAGE MELTDOWN
LACK OF GOV. OVERSEEING & MANAGEMENT
HIGH PRICED OIL
THE LIST GOES ON SIR. AND YOUR PARTY IS RESPONSIBLE.
PERIOD-POINT BLANK-END OF STORY-FULLSTOP
Stop the Spin. McCain is not ready to lead.
Just like he backed away from confusing Shia and Sunni....just like he backed away from "America as a country of whiners"...just like he backed away from how many houses he owns....
Does this sound familiar America? It's what we have become accustomed to in the last eight years of the George Bush/Karl Rove Republican White House. Some Maverick huh?
Want more of the same...vote McCain
Lies, lies, more lies... He'll be singing a different song next week..
American workers, as strong as we are, can only do so much. We work hard but this administration has ignored us. The policies they enacted hurt not helped us now they want us to give them 4 more years to stick it to us again – NO WAY, ENOUGH IS ENOUGH.
What???? McCain ot taking responsiblility???? Shocker!
It seems his true colors are starting to show through the smoke screen. He only cares about other rich guys, he could care less about the rest of us.
If the American worker is the fundamental strength of our economy, why are so many jobs being sent overseas? I don't think McCain, Obama or any of the folks in Washington get it yet. I personally plan to vote AGAINST every incumbent I can.
When wa s the last time McBush fed his family on $120 and had to make that last for 2 weeks, when was the last time he stretched out his paycheck to make it to the end of the month...when was the last time McBush told his kids no, I don't have the money for that or thats to expensive right now.......Oh Wait he spent it all on his $500 loafers!!
Wouldn't you back away from such an idiotic statement. McCain can run, but he can't hide. The chickens are coming home to roost. i heard that Phil Gramm had a huge part in the de-regulations and wrote the legislation for Congress.
Lie, Lie, Lie.... Deny, Deny, Deny.... That's all the republicans ever do! Oh, that's not what I meant! Sure it wasn't John.... and your running mate didn't attempt to abuse her power either!
Many people I talk to who typically vote Republican claim that repubs are for small government and privatization of corporate America. I don't see it though. John McCain and the GOP want more military, and now apparently more financial regulation. I guess by small government, they don't want the federal gov't to provide health care or other social initiatives.
Although rampant government spending UNDER A REPUBLICAN DOMINATED FEDERAL GOVERNMENT is part of the problem, McCain neglects to mention Phil Gramm, who drafted McCain's economic proposal, and the many lobbyists working for his campaign who drove legislation through a Republican controlled Congress that deregulated the financial industry and set up the current economic crisis. He's trying to defer blame for the mess that he himself helped this country get in, and it won't work.
Obama/Biden – The change we deserve.
McCain/Palin – Thanks, but no thanks.
Oh dear – poor John just gets more confused everyday. Can't figure out what he thinks, what he'll do, what he should say to win. I'm dizzy just listening to him spin his useless positions and old proposals. Good thing he's got Caribou Barbie popping up in all the key states to keep the right excited about the "Palin-McCain" ticket...too bad that bubble is about to burst with all that's coming about Ms Sarah....she is same old, same old republican politics...just like him!
The only thing McBush has said that I agree with is his comment on economics not being one of his strong suits. Yeah, I'll say.....he hasn't a clue.
"Oh God, the people aren't listening to my lies anymore. Let's bring out Sarah Pigs and Lipstick. That will distract them."