Phil Gramm Speaks in Pasco, Resigns from McCain Campaign - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Phil Gramm Speaks in Pasco, Resigns from McCain Campaign

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PASCO, Wash.- Just after making a speech to tri-cities business leaders in Pasco today, McCain's biggest advisor steps down.

Phil Gramm mention of the McCain campaign Friday from former Texas Senator Phil Gramm speaking in Pasco.

Shortly after the speech, Gramm resigned as co-chairman of the McCain campaign.  This just days after calling America "a nation of whiners" in a speech.

In Pasco, Gramm focused on his expertise, the economy, telling business leaders to be patient with the slump in the nation's housing market, identifying his reasons for the drop and saying he expects it to end sometime next summer.

"Someday we will fell the bottom of this and when we do, I think there'll be a big surge in confidence and I think there'll be a big market reaction," the outspoken Republican said.

Gramm represented Texas in the Senate for 18 years. 

He's also been an economics professor at Texas A and M, and the latest, co-chairman of the McCain campaign. 

Just learning Friday though that he's stepped down from that after those controversial comments.

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