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

McCain still backing away from 'strong fundamentals' statement

[cnn-photo-caption image= caption="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The regulatory agencies charged with monitoring Wall Street, which he called outdated, have been "asleep at the switch the last few years."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. Cecilia - Chattanooga, TN

    Keep on backing up Mr. McCain – here is a thought – you could move to Alaska and help Sarah run the state and keep an eye on Russia

    September 16, 2008 10:23 am at 10:23 am |
  2. Leta

    Watergate/Iran Contral Scandal/Whitewater/Desert Storm/Iraqi War
    The economy will be fine and the Economy has servived many a scandal....When CMD McDougal Realtors/McDougal Properties/Horizon Construction/ (Carloyn,Delbert,Mike, Mark/Marc teamed up with David Miller, Laura Miller, Arnold F. Mincey, Jr., Hillary Clinton, Al Gore the words from Arnold F. Mincey, Jr. They have a very good BANKER....In order to create an Empire you first have to remove the dynasty....I am sure this is built up to allow Hillary, Al or Bill to profit, embezzel, launder and hide more money retained illegally.....Now are we going to cry about it ....Just let it happen or prepare a firm foundation to build on. As I have said before when Bill was in office if you build a bridge to the 21st Century (yes Century 21) and you build it on faulty ground that bridge will not last........Bridges are collapsing everywhere.....Thanks Bill Clinton, Hillary Rotham Clinton and Al Gore.....(Bill Clinton always had the dear in the headlight look). Don't tell me the Secret Service never allowed you to visit with Hillary and Al in Lubbock Texas while in office......IMAGINE THAT!!!!

    September 16, 2008 10:23 am at 10:23 am |
  3. Paul from NYC

    McCain read the same exact script on Fox and Friends and Scarborough this morning. These were barely 'interviews', just excuses to repeat the same lies and catapult the propaganda.

    September 16, 2008 10:23 am at 10:23 am |
  4. bill


    September 16, 2008 10:23 am at 10:23 am |
  5. North Carolina

    The American worker is the strength of the economy? Too bad none of us are working. Mccain you have no clue.

    September 16, 2008 10:23 am at 10:23 am |
  6. Allison

    We need jobs in order to work.
    HP are going to lay off 25,000 workers. Where are these strong workers going to find jobs in this doomed economy.

    September 16, 2008 10:23 am at 10:23 am |
  7. Barbara - NC

    Hey McLaughlin – you gonna censor us like Sinderbrand does?

    What ever happened to the McCain that said "I'll veto every beer .."

    What ever happened to the McCain that said "I'll veto every earmark .."

    Now he says "I'll veto the 1st earmark and make them known .."

    Only the 1st one John? Which ones will you let go thru? Any for the 600,000 residents of Alaska? How about the ones for the 300 million people that live in our decaying society? No? OOPS.

    But then, "We'll never have to go to war for oil AGAIN ......."

    Take our country back for US – Obama/Biden '08

    September 16, 2008 10:24 am at 10:24 am |
  8. McCain 2 Face

    Is it worth losing your job, your future, your retirement, your womans rights because your are afraid to elect a brilliant black guy?

    It'll be ok, I promise.

    September 16, 2008 10:24 am at 10:24 am |
  9. Annie

    The media doesn't want to go there, but I will. Senator McCain is a liar, and he thinks most of us are fools. What in God's green earth are we doing here? The U.S. has become a joke, a bad one. Canada and Great Britain are aghast, Mexico has to be laughing hysterically because we not only look dumber than them, we've become more corrupt. McCain and Obama are tied. I've thought about it from every angle, and it has to be bigotry. There are few choices left. For those of you who feel this way, vote for the white half of Obama, and you'll be doing yourselves and all of us a favor.

    September 16, 2008 10:25 am at 10:25 am |
  10. Old Fart

    Yes, and by "economy" he meant US Olympic basketball.

    Don't be so hard on McCain. He's getting up there in years. Sometimes his mind wanders.

    September 16, 2008 10:25 am at 10:25 am |
  11. Republi-CON

    This is the first time he's mentioned the word WORKER in years..if it weren't so serious it could be funny. The repubs. are like CEO's ..killing the Goose. Our country is it's inhabitants... Why are u destroying our Nation?? "Country First" is just a slogan to you. A slogan u discarded last week..The hardships trickle up faster than profits trickle down.
    McDumb said in his poorly delivered rebuttal yesterday afternoon that he was going to stop the GREED on Wall St.... HOW???????

    September 16, 2008 10:26 am at 10:26 am |
  12. Kevin Leo (Jonesboro, GA)

    Fool me once, shame on you. (W's 1st term)

    Fool me twice, shame on me (W won again?!?!?!)

    Fool me three times...not going to happen. No way, no how, no McCain, no Palin!!!

    September 16, 2008 10:26 am at 10:26 am |
  13. jm for sc

    Don't back away McCain; hold on to your beliefs. The american people need to know what you are really about. McCain expects women to flock to him because of Palin, ignoring all of his positions on things that matters most. If America is fooled by this man, we will be purchasing a bridge to nowhere.

    Obama/Biden 08

    September 16, 2008 10:26 am at 10:26 am |
  14. Ed

    Three words: hypocrisy, lies, cover-up.

    Take a nap Grandpa Simpson. NO MCCAIN!!!!!

    September 16, 2008 10:27 am at 10:27 am |
  15. SPQR753


    September 16, 2008 10:27 am at 10:27 am |
  16. Ann

    I would do more than back away from that statement. I would run!

    September 16, 2008 10:27 am at 10:27 am |
  17. KP

    McCain spin is not going to work on anybody! How can people honestly back this man that continues to say what he truly feels, gets caught saying something stupid then back out and say that he meant something else. If he wants to be the Commander in Chief you don't have the chance to say one thing to a hostile nation then just take it back. Things like that can start wars! Please America for the sake of our great nation please vote Obama. We need to get this country back on track right now.

    September 16, 2008 10:27 am at 10:27 am |
  18. MM

    if he saw there was a problem with Fannie Mae and Freddie Mac two years ago, did he do anything to alert everyone else or to do anything about it?
    just wondering.......................

    September 16, 2008 10:27 am at 10:27 am |
  19. Chuma C. I'Aronu

    I love John McCain. He is all over the place with confusion. He is always backtracking , flip flopping and outrightly lieing, not to talk of plagarising Obama's slogans and ideas.

    McCain, please stand on your own like a man. We love the former McCain, not this new Palin's handyman.

    Chuma, for McCain.

    September 16, 2008 10:28 am at 10:28 am |
  20. Pat from Cali

    Too many houses, not enough time...

    September 16, 2008 10:29 am at 10:29 am |
  21. Wendy Canada

    He is backing away from this statement but not others that have been proven false, misleading & lies? Strange way to put "country first".

    September 16, 2008 10:29 am at 10:29 am |
  22. McCain Sounding Like Herbert Hoover

    I cannot believe how out of touch McCain is. McCain saying that the economy is strong and then quoting Herbert Hoover. McCain is not only out of touch. He is out of this galaxy. The world is affected by what's happening in our economy.

    Herbert Hoover-McCain ???? This is too scary !!!!!!!!!!!!!!!!

    September 16, 2008 10:29 am at 10:29 am |
  23. Bluv

    If you saw the interview notice how he keep repeating the same key terms over in a continous loop, illustrating that he knows little about the subject but is trying to put up a hoo-rah speech to build up the American worker and how hard-working they are. You can tell when McCain knows what he is talking about (like war, abortion when he is in front of a conservative religious crowd); he gets a certain pep and doesn't double talk like he does when he responds to questions he knows little about (like the economy!)

    September 16, 2008 10:31 am at 10:31 am |
  24. The Other Campaign Strategist @ 115th St & Amsterdam

    John McCain is PRAYING for a Terrorist Attack right about now to play on his the imagery that his POW status has granted him with low information voters.

    Barrack, know what you are going to do NOW ... if this should happen.

    September 16, 2008 10:31 am at 10:31 am |
  25. Army Strong

    You know I'm so tired fo this maylay that McCain is tryig destort from he's a big lier the amercian people know that. Let us wake up the way I look at this if you want another 4 more yrs of hell vote for McCain we need a change in amercian Palin is not a change nor McCain I vote for GW IN 2000 I though he was for military people found out he bag down for he he promoised us not I'm getting ready to retired after 24 yrs Of service I been OVER THERE 4 time McCain F him tired io lies so if you want another Bush vote for him people wake up Sarah Palin is a joke she went to 5 university before she received hr BA in journalism hell I have my BA hell I'm working ON MY MASTER AS WE speak I should run for VP OBAMA please call me I will your 2nd VP I can shake up washington

    September 16, 2008 10:31 am at 10:31 am |
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