Obama Hits McCain as 'Out of Touch' on Financial Crisis : RushPRNews - Newswire & Global Press Release Distribution

 
Bookmark and Share

Obama Hits McCain as 'Out of Touch' on Financial Crisis

September 17, 2008

obamaBy Cindy Saine


WASHINGTON,DC (RUSHPRNEWS) 09/17/2008--Both presidential candidates, Democrat Barack Obama and Republican John McCain have seized on the U.S. financial crisis to try to make their case to voters on who can best turn the economy around. As VOA Correspondent Cindy Saine reports from Washington, Senator McCain found himself on the defensive for remarks he made Monday saying "the fundamentals of the economy are strong."

Barack Obama has had a couple of rough weeks on the campaign trail, with his rival John McCain surging in the polls amid broad fascination with McCain's pick for vice president, Alaska Governor Sarah Palin. But speaking at a rally in Golden, Colorado, Obama seemed to sense a "golden" opportunity to paint his rival as out of touch on the economy.

"We are in the most serious financial crisis in generations," he said. "Yet, Senator McCain stood up yesterday and said that the fundamentals of the economy are strong. Now, a few hours later his campaign sent him back out to clean up his remarks."

McCain appeared on several morning television shows Tuesday, saying there is indeed a financial crisis, and that to better understand it the United States should create an independent, high-level commission to study what caused it, similar to the September 11th Commission on the terrorist attacks.

Obama dismissed the commission idea, saying "we know how we got into this mess." The Democratic nominee lays the blame squarely on the Republican Party's philosophy of deregulation and what he describes as "trickle down" economic policies that he says benefit the wealthiest Americans and big corporations, while doing nothing for the struggling middle-class.

For his part, McCain took a more populist approach than he has in the past in describing the roots of the current crisis. Speaking in Tampa, Florida, McCain said he and his running mate are the true reformers.

Sen. John McCain smiles to an enthusiastic crowd during a rally at the Tampa Convention Center in Tampa, Florida, 16 Sept. 2008"We are going to put an end to the reckless conduct, corruption, and unbridled greed that have caused a crisis on Wall Street," he said. "We are going to put a stop to it."

McCain also joined Obama in calling for tougher government regulation of Wall Street.

"People have a right to know when their jobs, pensions, investments and our whole economy are being put at risk by the recklessness of Wall Street and under my reforms for the financial sector, that fundamental right will be and must be protected," he said.

Obama questioned McCain's sudden embrace of tougher government regulation of Wall Street institutions.

"Make no mistake, my opponent is running for four more years of policies that will throw the economy further out of balance," he said. "His outrage at Wall Street would be more convincing if wasn't offering them more tax cuts."

McCain' campaign says that his proposals to cut taxes on investors and businesses and to expand trade will boost the economy, while Obama's proposals to raise taxes on top earners and corporations will hurt the economy.

 SOURCE: VOICE OF AMERICA

About the author:

RushPR News is a social media newswire service created to help you with content creation and distribution to news outlets and social media networks. RushPRnews can also assist you with your web strategies with experts advices and strategies at an affordable cost. Write us at news@rushprnews.com

Click here to see all news from this author/company

Filed Under: Politics, PRESS RELEASE, BREAKING NEWS

RUSH PR NEWS newswire and press release services at rushprnews.com / Anne Howard annehowardpublicist.com

Content- Legal Responsibility - All material is copyrighted - You may repost but you MUST link back to the original post on your page and acknowledge Rush PR News as the news source. Rush PR News is not legally and/or morally responsible for content of press releases, opinions expressed or fact-checking.

Rush PR News cannot be held legally responsible for material published and distributed through its newswire service or published in its press-room and therefore cannot be sued for published material. Third-party must be contacted directly to dispute content.

Rush PR News is not the contact for material published.

RSSFeed PRESS & SOCIAL MEDIA RELEASES

GreenRoad bolsters focus on North American market with new Austin, Texas headquarters and top level appointments

San Jose, CA 05/26/15 · GreenRoad Technologies, the leading provider of Software-as-a-Service (SaaS)...

Canadian Anchor Baffled: Most People in LA Don't Know Who Sinatra Was

Hollywood, CA 05/22/15 · A Manitoba.24 anchor, MIKE BANANA, has held a...

Nostra Products - New Chalkboard Decor

New York, NY 05/18/15 · Nostra Products introduces a new product! Chalkboard decor...

AirBnB of food has arrived to London

London, United Kingdom 05/13/15 · - TRYMYKITCHEN.COM  BRINGS UNIQUE FOOD CONCEPT TO LONDON...

They Tell Their Story at the 32nd Annual McDonald’s Gospelfest and Competition

Newark, New Jersey 05/13/15 · Star-Studded Event at The Prudential Center, Newark New...

Newly Renovated Running Aces Casino & Racetrack to Host Preakness Event on May 16th

COLUMBUS, MN 05/12/15 · “The Triple Crown is a celebrated American tradition,...

Raleigh IT Business Celebrates 20 Years Of Serving Businesses Across North Carolina

Raleigh, NC 05/04/15 · CSP Extends Our Appreciation to Those Who Joined...

AK for Real Estate Development & Marketing to Settle with Egyptian Government

Cairo, Egypt 04/30/15 · Egyptian developer AK for Real Estate Development &...

Aspect/Bruker 3-year partnership concluded in March 2015

SHOHAM, Israel 04/26/15 · A world leader in ground-breaking, compact benchtop MRI...

IT Secure Services Expands Business Operations Into Massachusetts

Manchester, NH 04/23/15 · Businesses In The 128 Tech Corridor Finally Have...

ASTEP Announces Cindy Gentry, Senior Partner at Mercer U.S., as New Advisory Board Member

NEW YORK, NY 04/21/15 · The Asperger Syndrome Training and Employment Partnership (ASTEP)...

500 BC Introduces YouQuest App. Update Your Life, Not Your Status.

Washington, DC 04/21/15 · Harnessing ancient wisdom to meet modern challenges. “Update...