St. John To The Rescue

Commentary By Ron Beasley

The Republican Party is without ideas or a leader.  So who's going to ride to the rescue on the economic front?  This guy:

Take, for example, John McCain’s admission that economics isn’t his thing. “The issue of economics is not something I’ve understood as well as I should,” he says. “I’ve got Greenspan’s book.”

His self-deprecating humor is attractive, as always. But shouldn't’ we worry about a candidate who’s so out of touch that he regards Mr. Bubble, the man who refused to regulate subprime lending and assured us that there was at most some “froth” in the housing market, as a source of sage advice?

And John, if you haven't read that book yet keep in mind even Greenspan has admitted he was wrong:

But on Thursday, almost three years after stepping down as chairman of the Federal Reserve, a humbled Mr. Greenspan admitted that he had put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending.

“Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief,” he told the House Committee on Oversight and Government Reform.

And yes this is the Same John McCain who told us that the "fundamentals of our economy are strong" on the very same same day the financial system collapsed.

But none of that will not stop St. John - he's going to come up with a new 10 point economic contract with America.  Now this is a work in process but let's take a look at what he has so far.

1. Tax Cuts

2. Deregulation

3. No earmarks

4. ?

5. ?

6. ?

7. ?

8. ?

9. ?

10. And did you know John McCain was a POW?

Phill Graham wanted number two but even St. John is smart enough to see that that won't fly.