America's Mental Recession

McCain adviser Phil Gramm is far more upbeat than his boss.

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Lots of to-and-fro about these comments from McCain campaign adviser 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.... We've never been more dominant; we've never had more natural advantages than we have today.

Is Gramm right? Well, let me say this: I think 1) the economy stinks; and 2) America has the best, most competitive economy in the world. But Gramm is certainly way off message, especially when McCain's most recent television commercial declares the economy "in shambles."