Gramm Gaffes, Obama and McCain Pounce

Former Senator Phil Gramm: “You've heard of mental depression; this is a mental recession. We may have a recession; we haven't had one yet. We have sort of become a nation of whiners. 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.”

Senator Barack Obama: “America already has one Dr. Phil. We don't need another one when it comes to the economy. It's not just a figment of your imagination. Let's be clear. This economic downturn is not in your head. It isn't whining to ask government to step in and give families some relief. And I think it's time we had a president who doesn't deny our problems or blame the American people for them but takes responsibility and provides the leadership to solve them.”

Senator John McCain: “I strongly disagree. Phil Gramm does not speak for me. I speak for me. America is in great difficulty. And we are experiencing enormous economic challenges as well as others.”