John McCain: I don't "really understand economics". Stupid comment or just honesty?

[Nancy Pants]

Republican presidential candidate John McCain recently admitted in a meeting with the Wall Street Journal editorial board that he "doesn't really understand economics." Is that good? Can we admire him for his honesty or should we be scared?
http://www.huffingtonpost.com/2008/01/21/short-on-economic-underst_n_82529.html

[dlk]

His comment I take to be "honesty". However, we need a President who does understand Economics as this Nation is going to $%^& in a basket as they say.

[davidosterberg1]

Its better to admit a defecit and surround himself with advisors that do understand, than to pretend he's the expert and screw things up.

Regan was successful, not because he was a genius ,but because he employed those who were.

Hilly could never admit that she didn't understand something, and would never delegate authority. That would be weak and an admission of weakness in her eyes. Watch her, listen to her closely. You'll come to the same conclusion: If the outcome is unfavorable Its always someone elses fault, if the outcome is favorable its because she's brilliant.

[K W]

It's true. If he did he wouldn't push for amnesty for illegals. But then that leaves Hillary and Barack in the same boat. Liberals do not understand economics or they ignore it. It is shown every time that tax cuts increase revenues ... and yet they continue to demonize the fairness of people keeping more of what they earn

[ideogenetic]

We should be scared. If he doesn't understand economics (he still believes in mythical supply-side economics, as a matter of fact) then he will make very poor economic decisions including the appointment of his economic team (the Treasury, Labor and Commerce Secretaries)!

[slykitty62]

Part of being a good President is knowing your strengths and weaknesses and picking advisors who can help you. I admire his honesty. But since I don't think he has a prayer of winning the Presidency, there isn't much to be scared of.

[Jerbson]

I think both. Should he have said it? Probably not. Is it true? Yea.

The president doesn't really have much influence over the economy anyway. The Fed has much more pull in regards to that.

I'd rather a president understand diplomacy that economics because that is more the job of a president.

[Charlie Bravo]

I admire him for his honesty.

FYI, Jeremy's comment is very unbecoming. McCain isn't a liberal---and sure there were plenty of President's who, in the past, knew more about economics than they did about being a President (like Warren G Harding and Ulysses S Grant)---but some of the best Presidents that served who knew NOTHING of economics faired better overall (like JFK, Reagan and Theodore Roosevelt).

(if he becomes President he BETTER get a crash course in economics--or he's going to catch heck from a lot of people in our country)

[John K]

He joins about 90% of the other people in the US in not understanding economics. I do understand it. One of my degrees is in economics.