Tuesday, September 30, 2008

McCain Again Mistakenly Refers to a "Fiscal" Crisis!


As Felix Salmon of Portfolio.com noted after the debate, McCain for some bizarre reason kept referring to the current credit crunch as a "fiscal" crisis. Salmon writes:

"But from a technocratic standpoint, the fact that McCain twice referred to the financial crisis as a "fiscal crisis" is telling. It means (a) that he doesn't really understand it, and (b) that insofar as he does, he thinks that government is at least as much part of the problem as it is part of the solution."

Its clear now that this is a deliberate choice of words as he repeated it again this morning on Fox News (via TPM). See the video below.

(Comes at about 1:06)

UPDATE: This is more than just a simple gaffe. McCain spent a large part of the debate talking about cutting spending and earmarks (which are trivial)...and many in the House GOP are proposing spending cuts as well --which is precisely not what you want to do in the midst of a recession. Justin Wolfers an economist at Penn and a regular at freakonomics called some of these proposals "truly bizarre" yesterday in his appearance on Bloomberg.

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