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It's 3 am and we're in the midst of a once-in-a-century economic crisis. Who do you want answering the phone? Well, let's start by taking a look at where we are after 8 years of Republican economic policies.

The housing market is soft, credit is scarce, mortgage foreclosures are at an all-time high, and we're $10 trillion in debt. While labor productivity has risen 13.5 percent, middle class real wages have fallen roughly $1700. At the same time, the cost of healthcare, college, gas, and food have skyrocketed.

(Crossposted from Our Republic)

Earlier this year, federal taxpayers bailed out one of the world's largest investment banks. Earlier this month, taxpayers bailed out the country's two largest mortgage lenders. Earlier today, another of the world's largest (also U.S. based) investment banks filed for bankruptcy. And just a few hours ago, John McCain told Floridians that he still believes "the fundamentals of our economy are strong."

To his credit, McCain has conceded that "the issue of economics is not something I’ve understood as well as I should." But as McCain made clear today, he remains not only completely out of touch, but hopelessly ill-equipped to take on the economic challenges we face.

Originally posted to Republicus on Mon Sep 15, 2008 at 12:12 PM PDT.

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