McCain All Over The Place on The Economy

John McCain decided to throw out his now famous Herbert Hoover / George Bush line about the fundamentals of our economy being strong on the very day we came to realize just how bad things have gotten.  

McCain has since been in damage control mode now saying that he meant the fundamentals of the American worker are strong.  This however has not been his message the past sixteen plus times he made the comment.  I went and threw together all of the different times I could find with a quick search of youtube and pared it up with some footage from the Hoover / Roosevelt race.  There are some interesting similarities:

Here is a compilation from TPM of John McCain’s new found populist definition of his statement:

John McCain has also began flip flopping on his well documented stance favoring deregulation.  In March McCain gave a speech where he said:

 “Our financial market approach should include encouraging increased capital in financial institutions by removing regulatory, accounting and tax impediments to raising capital.”

The New York Times reports that:

In early 1995, after Republicans had taken control of Congress, Mr. McCain promoted a moratorium on federal regulations of all kinds. He was quoted as saying that excessive regulations were “destroying the American family, the American dream” and voters “want these regulations stopped.”

In the past couple days John McCain has been saying he is for more regulation.  Think Progress points out that he doesn’t seem quite clear on what his position is:

– Deregulation: McCain issued a statement Monday morning saying that “we cannot tolerate a system that handicaps our markets and our banks.”

– Both: On CNBC’s Squawk Box, McCain said, “We don’t want to burden average citizens with over-regulation and government bureaucracy…And I’m proud to be a Teddy Roosevelt Republican, who said, ‘unfettered capitalism leads to corruption,’ and we’ve got to fix this.”

– Regulation: McCain’s campaign then put out an ad calling for “tougher rules on Wall Street.”

– Deregulation: This morning, on NBC’s Today Show, McCain said, “Of course, I don’t like excessive and unnecessary government regulation.” (see below)

– Regulation: Then, on CBS’s The Early Show, McCain said, “Do I believe in excess government regulation? Yes.” (see below)

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