Watching CNN this morning in a clip of McCain, he had the incredible audacity to say that the US economy is basically sound. So let's take a very quick view and see how supportable that comment might be. In the past few days, Merrill Lynch was a forced sale to Bank of America, Lehman Brothers could not find a buyer and therefore filed for bankruptcy and AIG insurance is on the brink of financial disaster not to mention the Federal government's bailout of Bear Sterns and the takeover by Federal regulators of both Fannie Mae and Freddie Mac, the holders of some 50% of all mortgages in the United States. These are 6 of the largest financial institutions in this country. All have suffered at the hands of the real estate crises and the sub-prime mortgage debacle.

Additionally the trade deficit is at an all time high. The National debt is at an all time high. (This country is virtually broke) The value of the dollar is at or near all time lows against foreign currencies. The market lost over 500 points in one day (9/15). And let's see if that's not enough how about spending some 15 to 20 billion dollars a month in Iraq which has a mere 80 billion in unearmarked money form oil sales. Oh,speaking of oil how about $4 gas.

This information doesn't sound like a very sound economy to me. Probably the only reason there will not be a depression is because the Federal Reserve won't let it. But if the Federal government doesn't change their ways the job will be more onerous than it already is. Yeh Sen. McCain, your all over this economic issue. Oliver's got it and constantly has said that the economy is the number one issue of this election and number one for Oklahoma's district one.

Jack Charles