From The Road
October 9, 2008 2:17 PM

Obama: McCain Is Acting "Erratic" On The Economy

By
Maria Gavrilovic
Topics
Barack Obama
(CBS)
From CBS News' Maria Gavrilovic:

(DAYTON, OHIO) - Barack Obama accused John McCain of acting "erratic" when it comes to the economy, charging that he has shifted positions on mortgage buyouts.

While speaking at Dragon's Stadium, the first stop on his jobs tour, Obama said that McCain had offered up a plan for the government to purchase bad mortgages at a discount.

"The idea wasn't particularly new," Obama explained noting that the Treasury already has the authority to renegotiate a mortgage under the bailout plan.

However, Obama said that McCain is now offering up a plan in which the government would purchase mortgages at the going rate, allowing lenders to profit.

"It's not just that the McCain bailout rewards irresponsible lenders, it's that his bailout would make it more likely that those lenders keep up their bad behavior," Obama said.

"This is the kind of erratic behavior we've been seeing out of Senator McCain," he added. "I don't think we can afford that kind of erratic and uncertain leadership in these uncertain times. We need steady leadership in the White House."

The McCain campaign blasted back, accusing Obama of not being "straight with the American people."

"He won't spend a dime to help hardworking Americans stay in their homes," spokesman Tucker Bounds said, "In addition to explaining his friendship with unrepentant terrorist Bill Ayers, Barack Obama should tell voters why he supports the $700 billion legislative rescue plan but now opposes using that money to help homeowners get the relief they need and strengthen our economy."

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by zaqxsw22 October 10, 2008 9:23 AM EDT
John McCain has shown through his past actions that he has no concern for the wellbeing of middle-class Americans. When taking that into consideration, just how do you think he will handle the current financial disaster our economically battered nation is in today? For an answer to that question, one must look to the past, specifically McCain%u2019s disgraceful involvement in the Keating Five savings-and-loan scandal that decimated our economy, not to mention millions of hard working American%u2019s life savings, in the late 1980%u2019s.

Millions of hard working Americans had their life savings wiped out when one savings-and-loan after another went down because of the criminality of repugnant swindlers such as Charles Keating. Keating is a convicted felon who greedily defrauded millions out of their life savings, while at the same time he donated more money to McCain%u2019s campaign than any other contributor in the nation. And what did McCain do when he learned of Keating%u2019s arrest? He illegally tried to use his influence to keep his friend and largest campaign contributor out of jail.

McCain%u2019s involvement as the key figure in the Keating Five scandal is a window into his past, present, and future disregard for middle-class Americans. I urge all decent Americans who are sick and tired of being treated like second class citizens by the reprehensible corporate elite on Wall Street and their enablers such as John McCain, to take a look at KeatingEconomics.com



Reply to this comment
by newslink October 10, 2008 2:27 AM EDT
Obama is right. I am concened over this man''s Mental Health.He does not give speeches anymore, only attacks.I have a Family Member that fought in Nam, and he acts the same way. Its called Flash Backs.
Reply to this comment
by allisongayle October 9, 2008 7:51 PM EDT
Senator Obama, what have you done or called for that would fix our economy? If companies can''t get the credit that they need to operate and grow, how can they pay for the tax increase you call for?
Reply to this comment
by belmel-2009 October 9, 2008 7:12 PM EDT
What McCain said that astounded me was that he wants to stabilize home values! YIKES!!! How? Set a price per square foot regardless of neighborhood, amenities, or upgrades?! For homebuyers, our property is a savings account so leave it alone.
Obama seems to have a better grip on, and respect for, the market''s ability to quit sloshing wildly by reinstituting sensible consumer protections and regulation. The moderating effect of a strong middle class, living prudently, is the right answer.
Buying homes, rather than flipping houses; managing our careers, rather than job-hopping; living our ordinary marriage-kids-mature-retire (some or none of the above) lives in our communities...not Congress. McCain said that D.C. changed him and I think that was about the last word of his "straight talk." In fear/anger we''ve, forgotten the answers are in us--ALL of us...not the government! Instead of discussing that truth, posters and bloggers are shattering goowill by spreading nonsense and ridiculous lies...all for people who wouldn''t know or care if any of us fell off the face of the earth.
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by chesig October 9, 2008 6:47 PM EDT
Yes McCain is Acting Erratic, and Palin is saying whatever she wants. The two do not say the same thing when it comes to Social Security. McCain says he will get rid of it and Palin says nothing will change. Erratic!!!
Reply to this comment
by strangeworld October 9, 2008 6:31 PM EDT
The republicans in charge won''''t even admit that we''''re in a recession, yet it looks more and more that we''''re in a full blown depression because of the republican economic policies that have funneled the wealth of America to the richest few percent of Americans since the republicans took over. John McCain was a big backer of the deregulation of the banking industry - the reason that we''''re in this mess today. Only two weeks ago, McCain said that our nation''''s economy was "fundamentally sound". Republicans can''''t relate to the financial suffering of the average American - their presidential candidate John McCain certainly can''''t...he''''s got seven or more homes and 13 cars. Really sickening - the republicans continue to make policy that shifts the wealth of America to the rich at the expense of the rest of us. Vote the republicans out!
Reply to this comment
by strangeworld October 9, 2008 6:30 PM EDT
Pughenry3...Why did you say that John McCain enjoys himself when applying Preparation H? That''s really sick and may be untrue.
Reply to this comment
by rickwar October 9, 2008 6:28 PM EDT
Obama''s plan to impose Karl Marx Socialism is EXPOSED:

In June sources released information that during his campaign for the State Senate in Illinois, Obama was endorsed by an organization known as the Chicago "New Party". The "New Party" was a political party established by the Democratic Socialists of America to push forth the socialist principles of the DSA by focusing on winnable elections at a local level and spreading the Socialist movement upwards. The admittedly Socialist Organization experienced a moderate rise in numbers between 1995 and 1999. By 1999, however, the Socialist "New Party" was essentially defunct after losing a supreme court challenge that ruled the organizations "fusion" reform platform as unconstitutional.

Allegations surfaced in early summer over the "New Party''''s" endorsement of Obama, the Obama campaign along with the remnants of the New Party and Democratic Socialists of America claimed that Obama was never a member of either organization. The DSA and "New Party" then systematically attempted to cover up any ties between Obama and the Socialist Organizations. However, it now appears that Barack Obama was indeed a certified and acknowledged member of the New Party."

THE FACT THAT THE LIBERAL MEDIA IS IGNORING THIS TRUTH SPEAKS VOLUMES TO THEIR INTENTIONS TO PUSH AMERICA INTO A SOCIALIST DICTATORSHIP!

OneAmerican7 at 02:57 PM :
10.09.08

Rightt!

Paranoia strikes deep
Into you life it will creep
It starts when your always afraid
Reply to this comment
by pughenry3 October 9, 2008 6:26 PM EDT
We want to know if Barack Obama is going to promise to not chain smoke around Joe Biden because Joe Biden had asthma as a teenager.

The reason that Joe Biden could not fight for his country in 1968 during the peak of the Vietnam War was that he had teenage asthma.

Joe Biden had horribly bad luck, ninety percent of all children are diagnosed with asthma before age six but Joe Biden was unlucky enough to be in the ten percent group of children who acquire asthma after age six and became asthmatic when he was a teenager.

After five student deferments while he attended college and law school, his teenage asthma finally came to the attention of his local Selective Service Board and he missed the opportunity to serve his country during time of war as an officer. But for his bad luck with his teenage asthma diagnosis, Joe Biden could have gone in and served his country honorably as a officer and a gentleman and perhaps as a Judge Advocate Law Officer similar to his son.

We hope that Barack Obama will not smoke in front of Joe Biden because the smoke could aggravate Joe%u2019s asthma that prevented him from serving his country during time of war.

Reply to this comment
by strangeworld October 9, 2008 6:26 PM EDT
The republicans in charge won''t even admit that we''re in a recession, yet it looks more and more that we''re in a full blown depression because of the republican economic policies that have funneled the wealth of America to the richest few percent of Americans since the republicans took over. John McCain was a big backer of the deregulation of the banking industry - the reason that we''re in this mess today. Only two weeks ago, McCain said that our nation''s economy was "fundamentally sound". Republicans can''t relate to the financial suffering of the average American - their presidential candidate John McCain certainly can''t...he''s got seven or more homes and 13 cars. Really sickening - the republicans continue to make policy that shifts the wealth of America to the rich at the expense of the rest of us. Vote the republicans out!
Reply to this comment
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