Crush Liberalism

Reid admits the obvious: I’m an economic illiterate

When Harry Reid isn’t suffering from fits of hypochondria about coal and oil “making us sick”, he spends his time screwing up the U.S. Senate and admitting his economic illiteracy to the world.  From ABC News blog:

ABC News’ Z. Byron Wolf reports from Capitol Hill: Don’t look for any legislation in the near future to address the financial crisis.

Senate Majority Leader Harry Reid, asked today what new regulatory actions Congress can take, said, bluntly, “No one knows what to do. We are in new territory here. This is a different game. We’re not here playing soccer, basketball or football, this is a new game and we’re going to have to figure out how to do it.”

…

And he seemed to forget how he voted on a now-controversial bill that largely de-regulated the financial services industry in 1999. It was written by Sen. Phil Gramm of Texas, who has since retired and is a McCain economic adviser. And Democrats, including Reid, opposed the bill when it first passed the Senate with 54 votes.

But they voted for an updated version of the bill in December of 1999 and President Clinton signed it. Reid and all but 7 Democrats in office at the time voted for the version of the bill that ultimately became law even though he said he opposed the bill when he spoke on the Senate floor today.  Regardless, Reid said the de-regulation is less important than the current administration not enforcing remaining law.

He opposed the bill that, um, he voted for?  Man, that’s a neat trick!

Reid says “no one knows what to do”, yet McCain is the economic ignoramus?

September 18, 2008 - Posted by crushliberalism | economic ignorance, hypocrisy, Reid