You thought it was the collapse of your home equity. Or the vertiginous interest rates on your credit cards. Maybe that feeling you get looking at your 401(k) balance — you know, the same feeling you get in your stomach going down that first big hill on a roller coaster?
Phil Gramm has the answer — you’re whining too much.
Yeah. I guess if I were vice-chairman of UBS I wouldn’t be feeling much of a crunch either.
Obama’s mocking response:
And, to his credit, McCain’s:
“I’m not going to retract any of it. Every word I said was true,” Gramm said. A better response on McCain’s part might be to not take this guys economic advice anymore.