According to Sam Stein:

At a recent meeting with the Wall Street Journal editorial board, Republican presidential candidate John McCain admitted he “doesn’t really understand economics” and then pointed to his adviser and former Senate colleague, Phil Gramm – whom he had brought with him to the meeting – as the expert he turns to on the subject, The Huffington Post has learned.

Oh boy.

About Phil Gramm, courtesy of the late, much mourned Molly Ivins:

When he ran for president in 1996 and finished fifth in Iowa, all the profiles written of him included the line “Even his friends don’t like him.” Self-righteous and strident, Gramm demonized his opponents and used bitter, polarizing rhetoric. During a Senate debate over Social Security, a member pointed out that the proposal under consideration would hurt 80-year-old retirees. “Most people don’t have the luxury of living to be 80 years old,” Gramm scoffed, “so it’s hard for me to feel sorry for them.” Well, there is that.