ESPANOLA, New Mexico (CNN) – The economy remained the focus Thursday as Barack Obama continued to criticize John McCain for not being consistent in his response to the staggering financial roller coaster this week.
“On Tuesday, he said the government should stand aside and allow one of the nation’s largest insurers AIG, to collapse, I mean he said this in three different interviews despite the possibility that it would put millions of Americans at risk,” Obama told a crowd of thousands at a northern New Mexico rally. “But by Wednesday, he changed his mind. And today he accused me of not supporting what the Treasury and the Federal Reserve Bank did with AIG, despite no evidence whatsoever that that’s what I had said.”
The McCain campaign seized on Obama’s comments Wednesday that not enough “details” were known about the “arrangement with AIG and the Federal Reserve” to criticize the Democratic nominee for not taking a solid position on the deal. Obama also said the deal “must not bail out the shareholders or management of AIG.”
Obama plans to meet with his “top” economic advisors tomorrow while he is in Miami to discuss further economic proposals. During his remarks here, Obama said he would work to pass what he called the “Homeowner and Financial Support Act” which would “establish a more stable and permanent solution” and help provide “liquidity” and “capital to the financial system.” This act would also help homeowners “restructure” mortgages to try and avoid foreclosure.
The Obama campaign will continue to keep the economy front and center on the trail, using the issue to paint McCain as out of touch and shifting positions for political expediency.
“He has consistently opposed the sorts of common sense regulations that might set out some rules of the road for these financial institutions have lessened the current crisis,” he said. “Except now, with the magnitude of the crisis apparent even to the Bush White House, John McCain wants to reverse himself, he wants to reverse course. Now, all of a sudden, he has become a populist now he’s unleashed an angry tirade against all the insiders and lobbyists who happened to have supported him for twenty-six years … John McCain can’t decide whether he’s Barry Goldwater or Dennis Kucinich.”