A Glimpse Into Republican Economic "Thought"

In the news: Top McCain economic advisor Phil Gramm has bestowed his "wisdom" upon us concerning the U.S. economy. The former Republican Senator and financial services lobbyist believes that our economic problems are all in our collective head, that we are a nation of whiners, that it's just a "mental recession."

Really, Mister Gramm? That makes me feel so much better!

The rising cost of food at the local grocery store? The falling sales of the company for which I work, and the corresponding cutbacks? The inflation of energy costs, both at the gas pump and the electric meter? Thank God, they're all hallucinations!

Or maybe there is a better, more rational explanation. Maybe Phil Gramm, like so many Republicans, lives in a flimsily-built, inside-the-beltway fantasy world, insulated from the hard realities of life by some combination of material wealth and irrationalism.

In a perfect world, some unemployed Rust Belt everyman would meet Gramm in a dark alley and beat the living piss out of him, with the same lack of mercy that he and his ilk have shown those of us who work for a living. Then we could assure him that the pains from his many contusions and broken bones, the blood issuing from his orifices, were merely figments of his imagination.

But I digress.

Ultimately, this kerfuffle merely serves to illustrate why we cannot afford a President John McCain. McCain himself has admitted that he knows little about economics (as an aside, one has to wonder why Johnny Boy, during 25-plus years in Congress, never bothered to learn much about the subject), and it shows: He has, in his campaign, simply fallen back on the standard Republican economic orthodoxy, leaning on the likes of Gramm for poor economic advice.

We are on the verge of a second Gilded Age. And this time, in this time of unreason, in this New Corporate Age, we cannot count upon a second Progressive Movement to save us from it.