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During his last run for the presidency, in 1999, McCain supported the drilling moratorium, and he scolded the "special interests in Washington" that sought offshore drilling leases. Yesterday, he announced that those very same "moratoria should be lifted" and proposed incentives for the states "in the form of tangible financial rewards, if the states decide to lift those moratoriums."
President George W. Bush today will urge Congress to lift the ban on offshore oil drilling, a move that is in line with a similar call from Republican presidential candidate John McCain.
I was there at the Reagan Revolution. I was there just after we enacted the first tax cuts and the restraints on spending. I was chairman of the Commerce Committee in the Senate, which addresses virtually every major economic issue that affects the US. I'm very well versed on economics. That's why I have a strong team around me that respect my views and my vision. And that's why The Wall Street Journal, in a survey of economists recently, that the majority of economists thought that I could handle the nation's economy best. And I have been a consistent fighter to restrain spending and to cut taxes. And my credentials & my experience & my knowledge of these economic issues, I think, are extensive. And I would match them against anybody who's running.
"I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated."
"The issue of economics is something that I've really never understood as well as I should. I understand the basics, the fundamentals, the vision, all that kind of stuff."