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

WordBase Voted as No. 1 Word Game in the App Store

Vancouver, B.C. 08/22/14 · Two Danes have done the impossible. Their app...

Team Building Programs In a Rejuvenating Environment

GRAFTON, ONTARIO 08/14/14 · The knowledgeable and professional conference management team at...

Robin Williams Press Conference Prepared Statement - death by asphyxiation

San Rafael, Calif. 08/13/14 · My name is Keith Boyd. I am a Lieutenant...

A New and Intriguing shop now open in Vancouver

Vancouver, BC, Canada 08/13/14 · A quaint little green cottage that looks like...

Caring Alernatives Serving Monroe For Over 28 Years

MONROE, MI 08/12/14 · Caring Alernatives, Inc. offers services designed to help...

Investigation into Death of Actor Robin Williams

SAN RAFAEL, Calif. 08/11/14 · On August 11, 2014, at approximately 11:55 am,...

Bell Lifestyle Products Offers Erosyn to Help Women Enhance Their Sexual Energy

Mississauga, ON 08/08/14 · Mississauga, ON-based natural health supplements specialist Bell Lifestyle...

Philadelphia Promoters (The Heavy Hitters of Comedy) Produces Weekly Comedy Line-Up

Philadelphia, PA 08/08/14 · Philadelphia is known for it’s comedy venues and...

Bell Lifestyle Products’ Eroxil Supports Men’s Optimal Sexual Stamina

ONTARIO 08/05/14 · Mississauga, ON-based providers of natural health products, Bell...

Solexel Raises $31M to Commercialize High‐Performance, Thin‐Crystalline‐Silicon Solar Modules

Milpitas, California, 08/04/14 · Solexel, a venture‐backed solar cell and module manufacturer...

yWorld a New Vancouver Based Tech Company Launches Innovative Digital Conferencing Platform

Vancouver, B.C. 07/30/14 · Vancouver-based yWorld is pleased to announce that they...

Ste. Anne's Spa Nominated for Favourite Wellness Property in Canada

GRAFTON, ONTARIO 07/29/14 · Spafinder Wellness 365™ announced that Ste. Anne's Spa...

The new language exchange app is here! As easy as learning Chinese!

SAN FRANCISCO 07/23/14 · The new language exchange app ‘Social Language’ is now...