Campaign Notebook: 'Whiners'

CBS

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turning to the presidential race and john mccain is raking it in he reported today he raised 22 million dollars in june it was his best month yet barack obama's june numbers are not out yet meanwhile senator mccain spent the day distancing himself from comments made by one of his top advisors here's tonight's cbs news campaign 08 notebook phil graham the former texas senator is now a top member of the mccain economic team and in an interview with the washington times he suggested the economy is not as bad as we've been led to believe graham said you've heard of mental depression this is a mental recession he went on to say quote we have sort of become a nation of whiners complaining about a loss of competitiveness america in decline barack obama wasted no time responding america already has one dr phil we don't need another one when it comes to the economy we need somebody to actually solve the economy it's not just a figment of your imagination and john mccain made clear he doesn't agree with his old senate colleague either phil graham does not speak for me i speak for me after a town meeting in michigan senator mccain was asked if there might be a spot for graham in a mccain administration i think senator graham would be in serious consideration for ambassador to belarus

Pending sales sink 4.7%; Dow gains 152 on oil drop

CBS

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the latest snapshot of the housing market is worse than expected in May homes under contract dropped by 4.7% it was one of the weakest readings on record and the FED is stepping in to protect home buyers in a speech Tuesday Federal Reserve chairman Ben Bernan said the FED plans to issue new rules aimed at protecting future home buyers from Shady lending practices he also said Congress should consider giving the FED broader power to oversee financial markets oil prices are sharply lower for a second day in a row closing at around $136 a barrel the strengthening dollar has helped push prices down but some analysts warned the drop is just temporary still the lower prices helped fuel a late day rally on Wall Street the Dow gained 152 points and the NASDAQ was up 51 Texas Oil Man T Boon Pickin says he can solve America's dependence on foreign oil he's funding a giant campaign to focus the US on developing renewable energy resources he plans to build an enormous Wind Farm stretching from Texas to the north and he's ready to invest his own billions in the project that's your money watch log on to cbsnews.com for more in New York I'm Allison haralan