THE PARTY OF STUPID

No matter who wins the GOP nomination, they are all economically illiterate. Case in point:

McCain: "And by the way, I don't believe we're headed into a recession. I believe the fundamentals of this economy are strong, and I believe they will remain strong." (from The Caucus, 1/11/08)

REALITY:

Goldman Sachs became the latest Wall Street firm to predict that the U.S. economy will drop into recession this year, saying the Federal Reserve will have to cut interest rates to 2.5 percent by the third quarter as a result.

"Over the past few months, we have become increasingly concerned that the US housing and credit market downturn would trigger not just a growth slowdown and substantial Fed easing -- our long-standing view -- but also an outright recession," Goldman Sachs said in a note to clients Wednesday. "The latest data suggest that recession has now arrived, or will very shortly." (from CNBC, 1/9/08)