DNC Releases New Website: "McCain's Economic Advisors: With Advisors Like These..."

Washington, DC - The Democratic National Committee today launched a new website that highlights the dismal records and misleading rhetoric of John McCain's top three economic advisors. With Senator McCain admitting that "economics is something that I've really never understood as well as I should," the question of who is shaping his economic agenda is important to determining what direction he intends to lead the country. The new site , "McCain's Economic Advisors: With Advisors Like These..." highlights the failed, flawed and out of touch policies championed by advisors like Phil Gramm, Carly Fiorina, and Doug Holtz-Eakin.

As the Houston Chronicle reported yesterday, Campaign Co-Chair Phil Gramm was a key figure in the radical deregulatory schemes that helped create both the gas price crisis and the mortgage meltdown. By forcing the "Enron Loophole" into legislation in the middle of the night, Senator Gramm helped open oil and gas markets to the speculators John McCain now claims to oppose. Despite his role in creating both of these challenges, McCain reportedly called Gramm "the smartest economist and political strategist he knows." [Houston Chronicle, 6/22/08]

The site also examines the role of McCain Victory 2008 Chair and former Hewlett Packard CEO Carly Fiorina, who just yesterday went on CBS's Face the Nation and misrepresented Senator McCain's decision to adopt President Bush's support for offshore oil drilling and his repeated votes against incentives for renewable energy. Fiorina has herself bizarrely equated the mortgage crisis to a "product recall" and even defended the outsourcing of American jobs by calling it "right-shoring." Former Congressional Budget Office director Doug Holtz-Eakin has helped shape and defend John McCain's reckless borrow and spend tax policies, which will saddle our economy in trillions of dollars in new debt. Holtz-Eakin has repeatedly refused to say how John McCain intends to pay for his plan to make the Bush tax cuts he once opposed permanent, pay for the war in Iraq and add new irresponsible tax cuts without adding trillions of new debt.

The DNC's new website details the records of each of these advisors in one convenient location, so voters can see who is shaping John McCain's economic agenda and what that means for America's working families.

"With advisors like this, it's no wonder John McCain doesn't understand the economy," said DNC Communications Director Karen Finney. "His campaign co-chair helped fuel rampant oil market speculation; his Victory 2008 chair defends the outsourcing of American jobs and overseas tax shelters; and his key economic advisor has squandered his credibility defending McCain's fuzzy math. Unless shipping jobs overseas, staggering deficits and reckless handouts for special interests are your idea of sound economic policy, John McCain's incompetent circle of advisors is one more reason he is the wrong choice for America's future."

To see the DNC's new ""McCain's Economic Advisors: With Advisors Like These..." website, click here: http://www.democrats.org/EconAdvisors.