(CNN) - Sen. Joe Biden, the Democratic vice presidential candidate, said Tuesday that "the middle class is dying" and Sen. Barack Obama's economic plan will reverse that trend by lowering their taxes and raising those of people making $250,000 or more.
Watch Biden on American Morning
"Create jobs, keep people in their homes and increase regulatory oversight of the very people John (McCain) has refused to regulate," Biden said, summing up Obama's plan for repairing the ailing economy.
Earlier: Biden hammers McCain over economy
"We're letting taxes expire for the very wealthy and giving the middle class a fighting chance," he said.
Asked if that amounted to income redistribution, Biden replied, "I don't care what you call it. The middle class is dying."
"The American worker's been left out in the cold," he said.
Biden squarely blamed the economic mess on President Bush's economic policies backed by McCain, including the failure to properly regulate Wall Street, which he said resulted in fewer jobs, increased foreign debt and skyrocketing oil prices.
Biden, like McCain, called for stronger government regulation of Wall Street. "Bottom line is if you come to the federal government to borrow money, we get to look at your books," he said. "That's my money. It's the taxpayers' money."
Biden further blamed Bush and McCain for the "god-awful economic mess at home and abroad." Referring to assertions by McCain that the U.S. economy was fundamentally strong, Biden said the economy was "sound if you're very wealthy."
"It's a disaster if you're a hard-working middle-class family who goes from paycheck to paycheck and worries about paying your mortgage," he said.
What's that Joe "MBNA" Biden? You want us to believe that you are for the little guy? You mean the little guy that you screwed last year when you sided with the credit card companies on the bankruptcy bill? The little guys that got shafted now that credit card companies have the upper hand when dealing with the rest of us?
YOU don't care about us at all, your choice of sides on that law made it very clear.
The Dow is at the same level today as it was when Bush took over 8 years ago. This is proof of failure of Bush/McCain economics ? It is time to bring Democratic/Clintonian economics back and fix the mess created by republicans under Bush/McCain leadership.
joe, we're putting our and our children's future in your and obama's hands. please don't let us down.
You've been around for a very long time in the senate yourself, sen Biden. What did you do to make positive changes in this area?
I only have one house to lose, unlike John McCain
Biden is absolutley right. IF McCAIN AND PALIN GET IN WE ARE ALL
IN DEEP TROUBLE. The american people need to wake up, these
two cannot stop lying and are we that dumb we cannot see it.
Give 'em Hell, Joe!
I love the "Democratic-controlled congress" argument the Repugnicans are making. Dems control the House, sure enough. However, you have to count Lierman to give the Dems a majority in the Senate. Combine that with Bush's constant threat of veto against any meaningful legislation and the message is clear: vote the Repugnicans out of the Senate and out of the White House!
Sherry in SC:
"Bin Biden?" Really? I guess if Hillary were the Vice-Presidential nominee she'd be "Hillary Laden?"
I guess it takes this kind of inventiveness to keep up your end of the conversation in the heated debates you have in South Carolina.
Check out Biden's connection to MBNA, a huge bank he supported (or supported him) in Delaware. Two executives from the bank sold Joe his estate and an adjoining lot for the amount they paid for them. Sound familiar, Rezko. Google Delaware Online and the whole story is told. Oh, Joe's son also worked for MBNA before it was purchased by Bank of America.
That's right! You go, Joe!
Wealth redistribution, my butt. The wealthiest 1% of Americans can pay a little back into the system every now and then!!!
All you "values voters" out there making less than $250,000/year better get a clue ... the republicans ain't on your side. They lie to you during the election season that they "share your values" and leave you out in the cold after they take office as the rich get richer and the poor get poorer.
We need real change in America this election! Vote for values AND to improve the conditions in this country!
My only question to supporters of the Bush economic policies is do you truly believe that this country's finances are in good shape? If so, vote for McCain, who has voted with Bush 91% of the time, and against minimum wage increases 19 times.
I am just a rural midwestern voter, so I cannot comprehend why so many people vote against their own interests. Is it that you aspire to wealth, and want the tax breaks if you get above $250k? Please explain it to me.
You were PERFECT Today on the Today show.
You were so much more factual than McCain/Palin. And I loved ... absolutely LOVED how when the Meridith tried to put provacative words in your mouth you corrected her firmly and then made your case. Briliant Job!
We want you like this everyday. Barack has been having to fight in the trenches. That's not his role. It is yours.
It is republican policies & Leadership that created the crisis we are in. Cut the ring off and pummel the GOP.
I like it Joe! Let em have it!
Biden is unbelievable. So, he doesn't care what you call it....income redistribution is a SOCIALIST concept!! And that is what Obama is suggesting, let's take some of the wealthier citizens money and give it to the not so weathly. You just can't do that and have a capitalist society.
Although I disagree with his policies, I have to credit Obama as an intelligent man. I give no such credit to Joe Biden. He is truly one of the intellectual lightweights of politics. The man has never done anything BUT be a US Senator (which in itself is not a qualification). No one should be elected to the US Senate at 29 (as Biden was). I wonder if he plagiarized his original speeches to get elected.
National debt!!! $ 9,690,431,450,559.87. The estimated population of the United States is 304,738,326 so each citizen's share of this debt is $31,799.19. The National Debt has continued to increase an average of $1.93 billion per day since September 28, 2007!. ARE WE SLIDING TOWARDS BEING ONE OF THE BIGGEST THIRD WORLD ECONOMY???. ARE WE STILL THE MOST POWERFUL NATION ON EARTH OR THE CHINESE HAVE TAKEN THE MANTLE???. THINK ECONOMY VOTE WISELY!!
The media has been asking for more substance from the canidates, I guess they forgot to pay attention to Joe. He has been dishing it out since day one........
Pay attention to the truth
Great job Biden!!! Your responses were great and so, so true!
Obama/Biden....Change We Can Believe In
Plenty of blame to go around Joe. Lending restrictions where lowered under President Clinton in order to make Home ownership more obtainable. How did you vote on that one?? Who's party has been in charge in congress for the last couple of years? Remember the referendum on the Republicans in 06? Who received the most campaign money from Fannie Mae and Freddie Mac, wasn't it Barack Obama and Chris Dodd. Social Security, Medicare and Medicaid are what is bankrupting the country and its the Democrats along with some Republicans who don't seem to want to honestly address the problem.
Anyone can figure out why D.C. has such an education problem. Could it be poverty caused by its inhabitants procreating when they can't support themselves? Could it be "fathers" who show their manhood by inpregnating as many girls as possible to prove their virility? Ironic that BO is so in favor of birth control and abortion, but it seems that a huge portion of his followers refuse to use either. Stop the AA pregnancy rate that shows 70% of the babies are born to single mothers and you will begin to turn the problems around. In stead of hounding Palin for her choices, look to where the REAL problem lies.
Dear Sherry in SC –
I hope you make it out of the trailer park sometime soon and get a good look at America.
Senators Obama and Biden may have voted "Present" (which is common, if you have a 5th-grade understanding of Civics), but when was the last time the Alumnus of the Keating Five even set foot in the Senate? Get real!
Mccain is inept. Anyone who supports this coward lunatic needs to have their head examined.
that' my VP telling the truth...republicans are liars.biden and obama '08 is for you go..go...go...GOD will be with you and he is always with someone who tell truth.