I have huge problems with the whole situation. Obama is completely taking Gramm's words of context and changing it into his story. Do I hear a hypocrite?
Gramm is saying how once things became minorly bad, people started throwing out the word recession, perpetuating a problem that was saved for later. No one can argue against that because it is fact. If people think there is a recession, there is going to be a recession; it's simple as that.
Now Obama comes out and says this:
"He didn't say this but I guess what he meant was that it's a figment of your imagination, these high gas prices."
Wow, how did Obama make it through high school or college making these inferences? I doing the let me play stupid and pander to the people that are even more stupid than me. I'll let these feeble minded idiots into believing whatever I say.
I'll take a guess and say that Obama doesn't know what cause and effect are. High gas prices is a cause of what Gramm calls a 'mental recession,' and not reason for the "recession." And Obama doesn't seem to realize that gas prices hadn't started soaring when there was all this recession talk. How's that for being informed?