McGramps on the new GDP figures aka recession

[malaise]

Recession details
http://www.msnbc.msn.com/id/27453121/
<snip>
The economy jolted into reverse during the third quarter as consumers cut back on their spending by the biggest amount in 28 years, the strongest signal yet the country has hurtled into recession.

The broadest barometer of the nation’s economic health, gross domestic product, shrank at a 0.3 percent annual rate in the July-September quarter, the Commerce Department reported Thursday. It marked the worst showing since the economy contracted at a 1.4 percent pace in the third quarter of 2001, when the nation was suffering through its last recession.


Gramps response a few minutes ago
http://www.johnmccain.com/informing/news/PressReleases/02d5a9c5-4557-4587-895d-1d2a1ee580a6.htm
<snip>
Today, Doug Holtz-Eakin, McCain-Palin 2008 Senior Policy Adviser, issued the following statement on the Gross Domestic Product (GDP) number:

"Today's announcement that third quarter GDP fell at a 0.3 percent rate confirms what Americans already knew: the economy is shrinking. Barack Obama would accelerate this dangerous course. According to the independent Center for Data Analysis, Barack Obama's new policies will destroy nearly 6 million jobs over the next decade.

"Barack Obama's ideologically-driven plans to redistribute income will impose higher taxes on families, small businesses, and investors; expensive, rigid, job-killing health mandates on employers; energy policies that fail to promote domestic oil, natural gas, and coal, and will impose a massive Washington-driven regulation of everything from home furnaces to factories; isolationist trade policies that endanger one out of every five jobs; and massive new spending plans that that will burden the economy and saddle our children with debt. Barack Obama is change Americans cannot afford.

"John McCain's comprehensive reforms will clean up Wall Street, clean up Washington, and create nearly 2 million more jobs over the same period. John McCain offers a new direction and a real choice: lower taxes and under control spending; lower health care costs and portable insurance; an energy policy that declares independence from dangerous and unstable sources, values the environment, and supports growth; serious reforms to taxes, education, and trade to promote global competitiveness, and short-run plans to help the seniors, savers, homeowners, and workers hurt by the financial crisis."


Poor Gramps - he supported BUsh's economic policies - now that the chickens have come home to roost, he attacks Obama. Remember Gramps - the fundamentals are still strong - :rofl:

[lldu]

1. Mcpain's first words are usually "Barack......"

did this or did that.

Barack talks about US. Yes he has to say Mcpain every so often, but it is not an OBSESSION. Mcpain is OBSESSED with Barack.