McCain’s Economic Remedy: A Double Dose of the Same

By Robert Borosage
Created 04/16/2008 - 12:40pm

Summary:

Sen. John McCain this week delivered what the campaign billed as a major address on the economy. And while McCain says he understands people are hurting, he hasn’t allowed this to clutter his thinking. He just recycles the old platitudes of the market fundamentalists.

On Wall Street, the masters of the universe have turned to prayer and worry beads. At the Federal Reserve, a full night’s sleep is a fading memory. Across Main Street, the recession is starting to hit, stores are shutting down, bankruptcies are spreading, houses are being foreclosed or abandoned. The pain of the recession is just beginning to hit.