"The fundamentals of our economy are strong"

Yesterday John McCain stated, "The fundamentals of our economy are strong." He made this statement after learing that Lehman Brothers (158 year old wall street giant) filed banckruptcy and 94 year old Merrill Lynch sold itself to Bank of America. Yesterday's loss of about 500 hundred points on Wall Street was the biggest since September of 2001. Since the comments made by McCain yesterday the Democrats have pounced on his words and are looking for a way through the Sarah Palin bounce of the previous weeks.

The Obama Campaign hit the McCain campaign back by saying, "McCain is disturbingly out of touch." They say this because two of the biggest financial institutions collapsed yesterday and McCain is still out there stating that the economy is still strong. The Obama campaign is seizing the moment that the economy is being hit hard by the past 8 years and they are tying the McCain campaign to 4 more years of Bush. Some would even go farther and call him Bush 44 since the current president is Bush 43.

The loss of two financial institutions yesterday obviously shows the economy is in a rough patch right now and the two campaigs are trying to make their points that there ideas are the right ones. It is going to be hard for the McCain campaign to break away from the past 8 years since John McCain is a republican candidate and the republican president has been in power over the past 8 years. I believe the Obama campaign is going to hit the McCain campaign hard on this and we will see how the two camps present their economic agendas in the next few days.