CNBC's Lawrence Kudlow interviewed Rich Lowrie, Herman Cain's principal financial advisor, about the 9-9-9 plan which he devised. Lowrie, a retail financial advisor in a suburban Cleveland branch of Wells Fargo made some pretty impressive--although totally unsupported--statements about the effects of the plan. He said that "low income Americans would get a 10% increase in their incomes". In another part of the interview he stated that "GDP would increase by 14% per year", and "the unemployment rate would drop by 3%".

Although Kudlow tried to get some details on how these results would occur, Lowrie couldn't provide any.

Addressing just one of Lowrie's claims--GDP growth--there has been only one year in history that the U.S. GDP grew by more than 10% and that was only by 10.1%. Lowrie's claim for 14% growth would be dramatically higher than any year in recorded U.S. economic history. And in that the most recent projections of economic growth show an almost stagnant 1 to 1-1/2% projection, Lowrie's claim for 14% growth is, in a word, unbelievable.

Lowrie's projection that lower income workers would enjoy a 10% increase in their income flies in the face of the report released earlier this week by the Bureau of Labor Statistics that the real income of U.S. workers has actually declined by 7% in the last four years and that it would take until 2021 for their real income just to climb back to 2007 levels.

I don't know how much Lowrie really knows about economics, but he seems to be mastering the often-used political ploy that if you keep saying something often enough, people will begin to believe it. After another political observer watched a re-run of the interview on his program this morning all he could do is laugh, shake his head and comment, "...this guy is just making it up".

I don't think it'll be too long before we all find out the truth about the possible effects of the 9-9-9 plan, without even considering the fact that not one politician or political observer believes that 9-9-9 could ever be passed into law. Then we can get on with more realistic and serious options for addressing the U.S. fiscal crisis.