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DNC MUST READ: Economic Slump Underlines Concerns About McCain Advisers

WASHINGTON, April 2, 2008 /PRNewswire-USNewswire/ -- With the economy continuing to slide and John McCain himself admitting he doesn't understand the economy, the role of his economic advisers becomes particularly significant in his campaign. The Washington Post today details the questionable economic records of two of John McCain's key economic advisers and raises questions about what a McCain presidency would mean for America's working families.

The following are excerpts of the story:

Economic Slump Underlines Concerns About McCain Advisers

Washington Post

By Jonathan Weisman

April 2, 2008

"Former senator Phil Gramm, with his aw-shucks Texas drawl, may at first blush have little in common with Carly Fiorina, the telegenic former chief executive of Hewlett-Packard. But they share a bond: Both are leading economic advisers of Sen. John McCain (Ariz.), the presumptive Republican nominee for president, and both have reputations as the kind of aggressive capitalists that may be sliding from favor as the nation's economy edges toward recession.

"Democratic opponents are already plotting attacks on two advocates of what Robert Reich, a former Clinton labor secretary, described as 'dog eat dog capitalism,' an economic philosophy that works well when the economy is on the upswing but may not play so well in a trough. 'McCain is counting on people having very short memories and not connecting some pretty obvious dots here,' said Jared Bernstein, an economist at the Economic Policy Institute, summing up a growing liberal critique of McCain's economic team.

"Fiorina's claim to fame was 5 1/2 rocky years at Hewlett-Packard, where she battled the company's founding families to push forward with a $19 billion purchase of Compaq Computer in 2002, then failed to create the profitable computer giant she had promised. In February 2005, she was publicly ousted by HP's board, but not before she ordered the first of a series of leak investigations that would spin into a highly publicized scandal."

For the full article, click here:

http://www.washingtonpost.com/wp-dyn/content/article/2008/04/01/AR2008040102860_pf.html

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This communication is not authorized by any candidate or candidate's committee.

SOURCE Democratic National Committee

Tags: ,POL,CPN,ECO,DNC-McCain-advisors

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