McCain: Economic Guru

John McCain has said on numerous occasions that he is "doesn't really understand economics."  (http://www.huffingtonpost.com/2008/01/21/short-on-economic-underst_n_82529.html)

This can be reflected in McCain's belief that the problems are merely "psychological." 

This week on Fox News, Neil Cavuto asked McCain, about the worth of rescinding an 18-cent gas tax as prices at the pump escalate this summer. McCain responded that “a lot of our problems today” are “psychological” — even the “ability to keep our own home”:

• I’m very concerned about it, Neil. And obviously the way it’s been going up is just terrible. But I think psychologically — and a lot of our problems today, as you know, are psychological — the confidence, trust, the uncertainty about our economic future, ability to keep our own home. This might give them a little psychological boost. Let’s have some straight talk, it’s not a huge amount of money. 

http://thinkprogress.org/2008/04/19/mccain-a-lot-of-our-problems-today-are-psychological/

McCain made an attempt to add some economic clout to his campaign by introducing Phil Gramm as his top economic adviser. However, McCain finds himself in a tough spot over Gramm's recent statement that Americans are "whiners."

In an interview with the Washington Times, McCain's top economic adviser Phil Gramm tells America to suck it up and stop complaining about the economy:

"You've heard of mental depression; this is a mental recession," he said, noting that growth has held up at about 1 percent despite all the publicity over losing jobs to India, China, illegal immigration, housing and credit problems and record oil prices. "We may have a recession; we haven't had one yet."

"We have sort of become a nation of whiners," he said. "You just hear this constant whining, complaining about a loss of competitiveness, America in decline" despite a major export boom that is the primary reason that growth continues in the economy, he said.

http://www.huffingtonpost.com/2008/07/10/mccain-adviser-americans_n_111857.html

John McCain has formally rebuked his adviser, saying that they do not share the same views. However, it is apparent from their comments that they do share similar views on the mental and psychological state of Americans. This has come on a tough week for McCain, where he was challenged at a Denver town hall event by a Vietnam veteran for his votes against veterans services. www.youtube.com/watch?v=4qRy4PnmNu8