A Tale of Two” Fundamentals” of the Economy are Strong, Part Deux … It all depends on what the meaning of “sound” is
For all of you who thought Obama was some sort of change and some type of new politician, think again. Where have we heard this before? Now it depends on what the meaning of “strong” is, or is it “sound?”
Words do not lie … see and hear for yourself.
During the 2008 Presidential campaign Republican candidate John McCain made the comment on September 15, 2008: “the fundamentals of our economy were strong”. Team Obama thought the comment was so humorous that they took the comment out of context and made it into a campaign ad mocking the Senator from Arizona calling him out of touch.
What’s the different between then and now?
(Video H/T: The Gateway Pundit)
However, some how after all the Obama campaign rhetoric the Obama Administrations is using the exact same words when the economy is even worse today that it was in September 2008. It was ok for Obama to criticize McCain during the campaign and use the “fundamentals” comment to his benefit when it behooved him. Suddenly with a worse economy that September 2008, more jobs lost and a stock market that has been ravished … Obama and his minions say with a straight face that the fundamentals of the economy are sound. Today, we face a worse situation under Obama, who is out of touch?
During the fall campaign, Obama relentlessly criticized his Republican opponent, Sen. John McCain, for declaring, “The fundamentals of our economy are strong.” Obama’s team painted the veteran senator as out of touch and failing to grasp the challenges facing the country.
But on Sunday, that optimistic message came from economic adviser Christina Romer. When asked during an appearance on NBC’s “Meet the Press” if the fundamentals of the economy were sound, she replied: “Of course they are sound.”
“The fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology,” she said. “We know that – that temporarily we’re in a mess, right? We’ve seen huge job loss, we’ve seen very large falls in GDP. So certainly in the short run we’re in a – in a bad situation.”
Just a week ago, White House Office of Management and Budget director Peter Orszag declared that “fundamentally, the economy is weak.” Days later, Obama told reporters he was confident in the economy.
Amazingly enough, this week Obama’s economic chairwoman Dr. Christia Romer told David Gregory on Meet the Press that, “Of course the fundamentals of the economy are strong.” Let’s give credit to David Gregory for holding her and Obama’s feet to the fire.
UPDATE I: Hot Air has Press Secretary Gibbs trying to explain the unexplainable.