Jim Stillman
Nevar
Some GOP leaders live in their own, comfortable, world
July 13th 2008 17:36
One of my sons-in-law, Dan if it matters, and I were chatting yesterday and he asked a very rhetorical and profound question. How, he asked, could Senator McCain’s primary economic advisor, Phil Gramm suggest that the only thing wrong with this country’s economic condition was that “we had become a nation of whiners”, that there was no recession going on other than a “mental one” and that if the American public merely corrected its attitude, all would be well.
Senator McCain promptly distanced himself from the comments by the man he had previously described as the person from whom he, Senator McCain, received guidance and economic advice. The media, as usual, granted the Senator a Mulligan, a pass.
Dan’s question is legitimate. To the wealthy top percent of the country, men and women who have no concept of living off a paycheck, one layoff away from losing car and home, unable to pay for adequate health insurance, having to choose between filling the gas tank and taking the kids out for ice cream sundaes, there is no recession. If you have a net worth of $5 Million, a 20% drop to $4 Million will not change your lifestyle!
Dan comes originally from the Detroit area where unemployment is rampant. When the person on the assembly line is laid off, there is no “Golden Parachute” to ease the pain, only foreclosure and repossession.
I would wager that Phil Gramm does not know any people living paycheck to paycheck. He and his friends are well insulated from the realities faced by the average guy.
Phil Gramm is right; there is no recession among his friends and associates. Those in his circle have merely to think happy thoughts and all will be well. For them, supply-side economics, lowering taxes is the solution to all problems and corporate welfare works wonderfully.
As to the rest of us. . . too bad, so sad.
Senator McCain promptly distanced himself from the comments by the man he had previously described as the person from whom he, Senator McCain, received guidance and economic advice. The media, as usual, granted the Senator a Mulligan, a pass.
Dan’s question is legitimate. To the wealthy top percent of the country, men and women who have no concept of living off a paycheck, one layoff away from losing car and home, unable to pay for adequate health insurance, having to choose between filling the gas tank and taking the kids out for ice cream sundaes, there is no recession. If you have a net worth of $5 Million, a 20% drop to $4 Million will not change your lifestyle!
Dan comes originally from the Detroit area where unemployment is rampant. When the person on the assembly line is laid off, there is no “Golden Parachute” to ease the pain, only foreclosure and repossession.
I would wager that Phil Gramm does not know any people living paycheck to paycheck. He and his friends are well insulated from the realities faced by the average guy.
Phil Gramm is right; there is no recession among his friends and associates. Those in his circle have merely to think happy thoughts and all will be well. For them, supply-side economics, lowering taxes is the solution to all problems and corporate welfare works wonderfully.
As to the rest of us. . . too bad, so sad.
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Comment by Jeff Musall