It seems McCain’s economic concerns extend only as far as Wall Street. Today in the Politico, Douglas Holtz-Eakin, McCain’s senior policy adviser, admitted that “in McCain’s world…the Main Street guys are hanging in there“:
In McCain’s world, Holtz-Eakin said it seems ‘the Main Street guys are hanging in there. The Wall Street guys are in a world of hurt…The concern is how to keep the travails in the financial sector from spilling over and hurting Main Street,’ he concluded.
This is what the McCain campaign must consider “hanging in there.” Since 2000:
–The average family income is down $962, after inflation
–The cost of an average family health plan is up almost $6,000, from $6,300 to $12,100 a year
The American economy has lost 438,000 jobs so far this year alone. Today, there are 1.6 million people who have been unemployed for six months or longer.
Maybe his concern for “the Wall Street Guys” explains McCain’s $175 billion tax cut for corporations in which 59% of the benefits flow to the richest 1% of Americans and $44 billion goes directly to the Fortune 200. After all, they’re in “a world of hurt.”