Barney Frank: 'The Fundamentals Are Better Than the Psychology'

Shades of McCain from an unlikely corner . . .

When at the beginning of the current financial mess John McCain declared that "the fundamentals of the economy are strong," he was roundly lambasted by the MSM, while the Obama campaign called his statement "an enormous mistake."

So, should we expect the liberal media and the Obama campaign to go after Barney Frank . . . now that he has said something remarkably similar? Discussing the markets with Maria Bartiromo on CNBC this afternoon, Frank declared: "I think it's clear that the fundamentals are better than the psychology."

View video here.

While he was at it, Frank echoed McCain on another important issue.  Like the Republican candidate, the Dem chairman of the House Financial Services Committee indicated it would be a mistake in the current economic climate to raise taxes on the richest Americans, as Obama has proposed.

MARIA BARTIROMO: So you agree: taxes should go up, then, on the top earners, even in this slow environment.

BARNEY FRANK: No. Not right away. I want to wait a year.

BARTIROMO: Will you ask [Obama] to push the plan back then? Because he wants to raise taxes as soon as he gets in office, correct?

FRANK: Well, I do not think he has said recently he's going to do it as soon as he gets in office.
Really?  When Obama told Joe the Plumber he wants to "spread the wealth around," there was nothing to indicate he meant later, not now.   The official Obama website similarly suggests nothing about a delay:
Obama will ask the wealthiest 2% of families to give back a portion of the tax cuts they have received over the past eight years to ensure we are restoring fairness and returning to fiscal responsibility.
Obama might have Colin Powell, but McCain has Frank! To be sure, the Dem congressman expressed formal support for Obama, but on the big economic issues of the day, Barney was singing John's song.
Mark Finkelstein
Mark Finkelstein is a contributing editor for NewsBusters.