In yet another sign of the economic woes facing the country, the unemployment rate increased from month to month by its largest percentage since 1986.
‘For the average American there is not debate that the eocnomy is in a recession,’ said Mark Zandi, chief economist at Moody’s Economy.com. ‘That’s because their net worth is lower, their purchasing power is lower and it is tough to find a job. If you lose a job, it is tough to get back in,’ he said."
Average Americans certainly know this economic reality, but John McCain apparently sees the largest increase in the unemployment rate in over 20 years as yet another sign that, "Our fundamentals are strong, very strong." You can’t get much more out of touch with the tough times facing working families than that. Of course, McCain is "not an expert on this stuff."
Really John? We couldn’t tell.