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

Newborn Foundation Selected Among First 
Global Innovation Fund Grant Recipients

Saint Paul, MN 02/09/16 · Announcement at GIF launch event in London highlights...

The Gamifiers Partners With Livecube to Bring Gamified Event Engagement to the Middle East

DUBAI/NEW YORK 02/02/16 · TECH NEWS - The Gamifiers, the leading specialized gamification...

Rugby North to Launch Canada’s First Professional Rugby League

Toronto, ON 02/02/16 ·  The country that introduced rugby to North America...

Dominion Lending Centres Edge Financial Welcomes New Mortgage Agents On Board

Toronto, Ontario 01/27/16 · The mortgage agents behind the site GTAMortgagePros.com  –...

Black Films Matter supports Movie Binges on Oscar Night

HOLLYWOOD, CA 01/26/16 · The Advocacy group Black Films Matter is supporting...

The Big Freeze: America Due Extreme Snowstorms

NEW YORK 01/23/16 · Founder of GridLocate.com, offers advice to US residents...

Clean the world Canada choisit Moisson Montréal

Montréal, Québec 01/05/16 · Clean the World Canada choisit Moisson Montréal comme...

All I Want for Christmas is for Trump to Shut Up is Island's new National Anthem

Cambridge, Mass 12/22/15 ·  A satirical Christmas song poking fun at real...

Gotham City Networking, Inc. Honors Raj Goel with Networker of the Year Award

New York, NY 12/16/15 · On Wednesday, December 2nd, Gotham City Networking, Inc....

Brainlink International Received Renowned Award for a Corporate SOP Culture That Outshines the Rest

New York, NY 12/15/15 · On Thursday, December 3rd, 2015, SmartCEO awarded Brainlink...

Livecube Enhances Its Social Engagement App to Be a Single Dashboard for Event Organizers

NEW YORK 12/03/15 · Enhanced features include real-time direct chat between attendees,...

MLBC offers new IFRS consulting service

Toronto, Ontario 12/01/15 · MLBC offers new IFRS consulting service New IFRS accounting...

For a fistful of dollars two gangs continue to fleece innocent families

Dallas, Texas 12/01/15 · Jaime Escalona speaking on behalf of COViSAL denounces...