As the old phrase about voter sentiment goes, “it’s the economy, stupid.” And like it or lump it, one of the reasons President Obama rode to victory in 2008 was a foot-in-mouth moment from opponent Sen. John McCain during the height of the market meltdown.
That famous gaffe was a quote from McCain that “the fundamentals of our economy are strong” while the Dow Jones tanked 500-plus points or over 4% in a single day on Sept. 15, 2008.
Whether McCain’s words were taken out of context – the senator claimed he was waxing philosophical about the fundamental strength of the American economy and its workers – is irrelevant. In politics, it’s less about reality and more about what the America people believe and what the media chooses to focus on. Read