Obama: McCain Is Acting "Erratic" On The Economy
(CBS)
(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.”
