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The regulatory agencies charged with monitoring Wall Street, which he called outdated, have been "asleep at the switch the last few years."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. Susie

    I think McCain thought the economy must not be too bad if Obama supporters are willing to pay $28,500 a plate for an Obama fundraiser hosted by "Bab's".

    So much money - does the average "Joe" understand that?

    September 16, 2008 10:14 am at 10:14 am |
  2. facts are facts

    There is no animal in this world easier to skin than the average Joe regardless of what country they live in. McCain and the GOP have this figured out and have it down to a science on how to manipulate the bulkk of the population.

    Fred Thompson state at the GOP convention Sara Palin can skin a moose. Although that likely makes her more qualified to be President than John McCain the Republicans still more work to do with her before she can skin the public but they'll get it done in time.

    September 16, 2008 10:14 am at 10:14 am |
  3. blaising

    McCain at Columbia University during a service forum featuring both candidates:

    "It's easy for me to go to Washington," said McCain, "and frankly, be somewhat divorced from the day-to-day challenges people have."

    Nuff Said...

    September 16, 2008 10:15 am at 10:15 am |
  4. John

    McCain thinks with a wave of his hand and some pandering rhetoric we will forget his actions during the past 26 years he's been in government – how he has steadfastly supported his party throughout years of misguided policies that are resulting in the mess we have now.

    Yet all of a sudden, once he's elected, somehow all that will change – he'll be reborn as a new man!

    Are Americans really this gullible?

    September 16, 2008 10:15 am at 10:15 am |
  5. Tony

    McCain is absurd.

    He understands and can relate to the average man or woman about as much as a millionaire can to a homeless person living on the street.


    September 16, 2008 10:16 am at 10:16 am |
  6. MurphyMorseJohnson

    How dumb and insensitive can a Republican get? Apparently, McCain doesn't really listen. If he did, he would see television ads for foreign cars outnumber U.S. car manufacturers' ads 4-1. This is the result of Republican job outsourcing due to Republican lobbyists and Republican greed. McCain has supported Bush/ Republican economic policy 90% of the time. The only real change will come from a Democrat, not McCain.

    September 16, 2008 10:18 am at 10:18 am |
  7. haas

    Has America woken up yet? McCain-Palin will continue the past 8 years. They are bad for the economy, our standing in the world and for this country. No way, No how, No McPalin!!!

    September 16, 2008 10:18 am at 10:18 am |
  8. Roland

    Come on McLame, don't forget what you learned in the Rovian school of politics . . . keep telling your lies over and over again until people start to believe you.

    (Just for clarification, the 'don't forget' had nothing to do with your age ... I think since this is supposed to be a once-in-a-century financial crisis we need someone like McLame who remembers last century's crisis.)

    September 16, 2008 10:18 am at 10:18 am |
  9. KJAB

    Oh my god. Please tell me the American worker will not fall behind this total b.s. McCain is a lying sell-out.

    September 16, 2008 10:18 am at 10:18 am |
  10. VON BISMARK,Vienna.

    I just can't understand.Since when in the world does the word "fundamentals" means workers? This can only be possible in the RULS(Rovian University of Lies and Smears) from where McCain graduated fourth from the bottom.
    This also qualifies him to tell lies with a straight face with the lame excuse that Obama would not participate in town halls with him.McCain doesn't dictate the pace of the campaign.
    THIS IS A SCARY SIGNAL TO THE REST OF THE WORLD! He will lie as President to declare many more senseless wars.

    September 16, 2008 10:19 am at 10:19 am |
  11. NoMoreEvil

    Can Obama sue Mccain for spreading lies and rumors, distorting his ideas and copying their campain message?? Someone needs to stop Mcliar from this distortions. He will do anything to win, he has no morals, no ethics, no shame, what is he?? Human? I don't think so. It is really really scary. He still talks about stupid earmarks, that do not mean anything compared to the National deficit we have and foreclosures and wall street …etc.
    He supports that stupid missrepresentation about the bridge to no where.. It is so irrelevant. I have no idea how is that message going to make changes we need. He keeps repeating the sentences over and over like a total jerk, his words are empty. I think he really thinks the American people are stupid and he wants to make sure they remain stupid because he has not talked about education. Why should we make Americans smarter (God forbid) they might realize the truth and we dont want that ..
    Wake up People. These guys want wars. Large companies benefit from wars. Weapons manufacturers, construction companies…etc. Those are the only people that will benefit from the Republican adminstration.
    Those of you who cannot see beyond skin color…well I hope you rethink this because the Creator or God that made white people is the same Creator or God that created Black people and therefore, "we created man equal"
    Look at yourself and look at your family are you really happy with what is going on with this Bush adminstration? Mccain is Bush.


    September 16, 2008 10:19 am at 10:19 am |
  12. Mccain is Bush

    Mccain is a Liar and he is Wrong for Americia let me give you a Few Reasons: He left his wife after she had a bad Car crash and start having a Affair with Cindy who is 20 years his Senior.2 He voted against raising the Minimum wage from 5.15 to 6.50. 3 He voted to Cut funding to Schools and After School Programs for Kids.4 He voted aginst {REFORMING) the healthcare system.5 He Voted aginst expanding Natural gas, Wind, and Biodiesel. Is this Really the Guy You want in the White House for 4 More Years? If You can, Can your Chlidren really afford 4 to 8 More years of American Schools?

    September 16, 2008 10:19 am at 10:19 am |
  13. Barbara Chicago, IL


    September 16, 2008 10:20 am at 10:20 am |
  14. RICK

    MCCAIN LIE LIE LIAR DOW 504 points down

    The Money map don`t look the same!!!

    When Pres. Bush took office in 2001 compared to now!!
    Figures don`t lie but liars sure do figure!!

    UNEMPLOYMENT RATE 2001 = 4.2%



    26,000 JOBS LOST

    VOTE McSame/Moose Slayer!!

    4 MORE YEARS!!


    September 16, 2008 10:20 am at 10:20 am |
  15. Kim, Charlotte NC

    McCain wants to win soooooooooooo bad, he can taste it. Can't you see him drooling at the mouth win he lies?

    This is only his 3rd try at becoming president. Has anyone ever wondered why Bush never picked him as his VP since he had so much experience?

    So sad...............

    September 16, 2008 10:20 am at 10:20 am |
  16. Lima

    Dear Senator McCain't :

    The strong american work force that you are speaking off has no job to go to. Over 600K and still counting are sitting home with their strong work ethics. They are actually wainting for your plans to fix the economy so that they can go back to work and not the other way around.

    September 16, 2008 10:20 am at 10:20 am |
  17. White Mother for Obama!!

    LOL, McCain... you sure back away from alot of things.. Give it up!

    September 16, 2008 10:20 am at 10:20 am |
  18. Ted van Tol

    It is obvius that McCain is not on control in his own campaign.
    His campaignleaders who are pushing the toughtalks of Palin and avoiding the real issues.
    Why McCain aprove the nasty ads towards Barack Obama?
    McCain is happy to have Palin next to him but he realy shows weak.
    Palin is taking over the campaign and that looks very scary to me.
    It is still about the next President of the USA and not about the VP.

    What Barack Obama needs to do to win this election:

    Use his insparationforce on every speech!
    Stick to the issues that are importaint for all Americans
    Ask the Americans what they want about the war: Stay in
    the middle of 2 and provote to start another 2 or, end fhe wars and
    talk with the enemy and provide another war.
    He must tell his supporers that, if they realy want change, they have
    to go out to family, frends, neighbours and people everywhere
    and tel them that they have to vote for change and Barack Obama.
    Blow on that wind of change and make it a storm for the better.

    When he does, he will win this election and make this world a better place for everyone.

    September 16, 2008 10:20 am at 10:20 am |
  19. Barbara - NC

    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 10:21 am at 10:21 am |
  20. Ron L

    He MEANT what he originally said, and it had NOTHING to do with the American workforce...
    DO NOT BE FOOLED!!!! This man does not understand just HOW BAD it has gotten for MILLIONS of us...HE JUST DOESN"T!!
    He may maybe a good Senator, he will make a POOR President.

    September 16, 2008 10:21 am at 10:21 am |
  21. D from MI

    Sarah Palin is nothing more than a parrot ... And John McCain is nothing but a baked potato that someone tried to heat up and fry ...

    September 16, 2008 10:22 am at 10:22 am |
  22. Brian

    RobinLC, allow me to answer your question:

    MCain is crazy, stupid AND lying.

    September 16, 2008 10:22 am at 10:22 am |
  23. Frank Chase Jr,

    John McCain is out ot touch and lives in another century. The straight talk express not only lost it's wheels but the engine has dropped out, too. As it stands, the McCain team is full of hot air, empty promises, hyperberly, and false statments to obscure that the America is broke and in a true drepression. When all the Execs, and money makers start jumping out of high rise building, maybe McCain will get it. McCain just does not get it.

    September 16, 2008 10:22 am at 10:22 am |
  24. Susan from Scotts Valley, CA

    After he made the first remark, I bet they all went into a panic to figure out how to fix it.. And what they came up with was: What I meant was "the American worker"? Is Obama disrespecting the American worker? How stupid do they think we are?

    Republicans can't fix what they broke. Recent history – think about how strong the economy was during the Clinton history. More history – look to the fact that the economy is always better during years of a Democratic president and look at when Reagan and the first Bush tried to fix the economy they eventually had to tax the rich. McCain is just wrong.

    September 16, 2008 10:22 am at 10:22 am |
  25. spoton

    i am an american worker.i look to keep what i earn not share it with someone unwilling to make the same sacrifices i did in school,eating balogne sandwiches every meal for 5 years thru school,working 60 hour weeks for 10 years.i dont expect someone better off than me to reach back and give me some of their wealth either.i expect every american worker to pay something in taxes to our government.its called having a vested interest.i do not expect to be taxed to pay for someone elses healthcare,i expect border security to keep out illegal workers that are driving down our wages and benefits.i do not expect govt to bail out irresponsible companies on wall street.i expect people to pay for their houses.i dont expect the govt to rush to every natural disaster.what beauracrat gets to decide how big the event is to be a disaster or whose district its in before aid is sent.i expect the iraq war to end soon resolution or not.i dont expect any war savings to be used on new programs as its all borrowed money.i expect honest dialogue face to face between candidates not spin thru their campaigns.every one should stop responding for these campaigns except the candidates themselves.dueling betweeen political candidates should be legalized.this would greatly diminish unsubstaniated reports against both candidates put out by both campaigns.

    September 16, 2008 10:22 am at 10:22 am |
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