Gramm resigns

Phil Gramm has resigned from his role as John McCain’s campaign co-chairman, following the uproar over his comments that the United States has become a “nation of whiners” and that we are in a “mental recession.” The comments were not baseless, but they were highly impolitic. As part of the McCain campaign, Gramm’s role when speaking to the media was not, in my view, to make every conceivable true statement about the economy, but rather to make true statements about the economy that wouldl assist McCain’s candidacy.

After Gramm made his remarks, McCain joked that there might be a role in his administration for Gramm as ambassador to Belarus. I suspect that Gramm would have a more prominent role to play, and that’s a good thing.

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