Majority Leader Harry Reid, from the Senate floor:

Today, with all the bad news, Senator John McCain said today that the fundamentals of our economy are strong. Think about that. I don’t know what that means. I don’t know if anyone knows what that means. For whom is the economy strong? It’s not strong for homeowners in Nevada. Certainly not strong for homeowners in Florida, Arizona, California, and most every other place in America.

It’s not strong for wage earners who are spending more than their paychecks than ever to buy gas to get to work, and then they have to come home at day’s end. School districts are having a difficult time because busing is now an integral part of school and school districts. Trucking companies in desperate shape all because of the high price of fuel.

And, Mr. President, it’s not just for middle-class families who are saving less and spending more on grocery, clothing, and health care. It’s throughout our society. The economy certainly isn’t strong for the 606.000 Americans who lost their jobs this year. This is 606,000 people, and you have John McCain saying the economy looks good? I really don’t understand what he means, the fundamentals are good.

The economy’s not strong for fixed-income seniors, which, the presiding officer of the State of Florida has more than any other place in the union. Certainly in Nevada, we’re the most rapidly senior population, it’s not strong for them who face, especially in the northeast because they have so much of their heating is done with fuel oil, prices are going to go up at least by 50%, some say 75%, this year.

There may be places in America where the economy is strong – country clubs, a few board, firms that haven’t – boardrooms, firms that haven’t folded. For the rest of America this country is not strong and won’t solve itself. No matter what President Bush and Senator McCain say, fixing this mess will take real leadership and a change of direction.