(CNN) – A day after the Dow Industrials index dropped nearly 800 points in reaction to the failure of the $700 billion bailout bill in the House of Representatives, economic issues are dominating the latest round of television ads in the presidential race.
The Obama campaign launched a new ad, “Same Path,” Monday. In the spot, Obama speaks directly to the public for nearly two minutes about the nation’s troubled economy and what Obama proposes to do about it.
“I know that that we can steer ourselves out of this crisis. But not by driving down the very same path,” Obama says. “On taxes, John McCain and I have very different ideas,” he also says before detailing changes to the tax code that he would push for as president in order to help small and startup businesses, middle class families, and senior citizens living on fixed incomes.
The ad will air in “key states” nationally, according to a statement issued by the Obama campaign Tuesday.
While the Obama camp’s new ad details changes to the tax code Obama would advocate for if elected, the Republican National Committee’s new ad seeks to portray Obama’s tax policies and spending proposals as a potential fatal blow to the struggling economy.
The 30-second spot, “Worse,” begins with images of Wall Street while an announcer asks, “Can it get any worse?” The ad suggests things can get worse if Obama wins the White House. “New taxes. New spending. New debt. Barack Obama’s plan: It will make the problem worse,” an announcer says in the ad. The RNC says that “Worse” will air in Wisconsin, Ohio, Michigan, Pennsylvania, Virginia and Indiana.”
The Obama camp responded quickly to the new RNC ad by blaming Republicans for trying to take political advantage of a moment of crisis instead of trying to work to solve the nation’s financial problems.
“For John McCain’s party to demagogue a rescue plan that he supports in order to score cheap political points is not only dishonest and dishonorable, it is the height of irresponsibility on a day when we urgently need to pass that plan to prevent an economic catastrophe.” Spokesman Bill Burton said in a statement issued by the Obama campaign. “So much for country first.”
While congressional Democrats and Republicans failed to reach an agreement to provide the $700 billion the Bush administration is seeking to throw a lifeline to the nation’s stalled credit markets, the Dow’s historic loss Monday caused by the failure of the bill generated a loss in value estimated at well over $1 trillion.
Yup – totally predictable.
Obama comes out with a rational, calming message that focuses on the issue. McCain/RNC comes out with a "don't trust that guy" ad...
McCain = Bush = very, very scary future....
Vote Obama-Biden and save our country!!
1.America knows that the $700billion is just an appetizer. The real amount will be around $11 trillion.2. American knows that Carter started the program to allow minorities and poor people to buy houses regardless of their credit. 3.America knows that Clinton used the program to bolster his economy knowing full well it would blow up after he left office. 4. America knows that Bush tried to stop the mess in 2003. It was shot down by Barney Frank & his cronies. 5. America knows that McCain again proposed a bill to stop the mess in 2005. Again it was shot down by the same group.6. More importantly America knows that the friends of Obama (current and ex Fannie&Freddie managers) planned the timing of this to get their guy in.7.Most importantly, America knows that ACLU/ACORN are currently committing voter fraud in all the swing states. 8. America also knows that Obama and his group of thugs cant win without cheating.9. All you Obama cheerleaders be prepared for Thug Rule (totalitarianism). Your freedoms will start slipping away and our beautiful America will join the ranks of other totalitarian states as an Obama administration will override the voice of the people.
Maybe someone needs to realize that we need to start MANUFACTURING something in this country again. Right now all we do is push money around and everyone takes their bite out of it. Until we revitalize blue collar jobs, we're sunk.
we need a solider for a leader not coward that wants to be a leader
McCain "should" suspend his campaign again to help with the bailout crisis........ COUNTRY FIRST....... ☺
This economy is just what this country and the world needs, because now we must end the wars in Iraq and Afganistan because we cannot afford 10 billion a month any longer.
Pitiful both: Old Warmonger and Pitbull....not one ounce of intelligence between them...
The author of the bill on deregulation was phil gramm who wrote the economic policy of McCain. McCain wants to put Gramm as secretary of the treasury. scary since the dereulgation of the markets caused this mess.
John McCain, Barack Obama for better or worse, has detailed specifics...you have only attacked his specifics in your ads. Please release an ad that details your specifics. I ask that they not be negative in nature but you can contrast them with Barack Obama. Thank you.
-The voting public
TALK is cheap ! Don't be FOOLED. You get what YOU VOTE for. No "WHINNING afterwards !
Yesterday, John McCain was on TV with Katie Couric trying to explain what Palin meant to say about Pakistan. It looked like father – daughter. What's she going to do on Thursday when she has to stand alone? John McCain is not a leader or a maverick.
Barack Obama is giving the American People direction and solutions to this crisis.
I find it intriguing how the Obama campaign talks about policy and presents his own approach to a crisis and McCain attacks and provides no information on how his own policies would help. This is a very good example of how well thought out policy allows you to take the high road where as lack of policy forces a low road.
The strange thing is Obama has a HUGE advantage in the attack arena that he has not utilized to anywhere near its full potential, and that is that McCain, not a month ago, said our economics were strong. For McCain to make ANY attacks against Obama on economics is not only bad politics, but at this point, I think anyone would agree, ridiculous.
At best, McCain simply couldn't convince his Republican counterparts in the House to get behind the bailout bill. Scary, considering how as commander-in-chief, he would need to have the political gravity to garner support for his mandates. At worst, McCain inserted himself into a situation over which he had no influence or know-how (he doesn't sit on the banking committee and has admitted he doesn't know as much as he should about the economy), all to merely revive his campaign. Personally, I'm inclined to believe the latter, although I do believe that House Republicans ignored McCain's mandate and did what they wanted to do. At any rate, I don't want a president who is willing to play games with the economy or its oversight (or lack thereof), especially when MY MONEY is at stake!
It appears that many of you really don't know the facts. You are so blinded by Democratic propaganda...LIes and deciet!
In the last couple of days, we've seen Nancy Pelosi trying to blame George Bush for all the financial upheaval of earlier this week. Fannie, Freddie, AIG, Lehman, etc.
As a result, you might be asking, "Who oversees these things? Isn't there some government agency that should have been able to see what was happening and taken some kind of steps to stop it?"
Well, yes. In fact, both the US Senate, and the House of Representatives have committees that are there for just this kind of thing.
So, who's in charge there?
Who should be held accountable?
The United States Senate Banking Committee :
Committee Chairman, Christopher Dodd, (D)
Subcommittees of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and Subcommittee Chair:
Securities, Insurance, and Investment – Jack Reed (D-RI)
Financial Institutions – Tim Johnson (D-SD)
Housing, Transportation, and Community Development – Chuck Schumer (D-NY)
Economic Policy – Tom Carper (D-DE)
Security and International Trade and Finance – Evan Bayh (D-IN)
The House Financial Services Committee:
Chairman Barney Frank (D-Ma)
The United States House Committee on Financial Services (or House Banking Committee) oversees the entire financial services industry, including the securities, insurance, banking, and housing industries. The Committee also oversees the work of the Federal Reserve, the United States Department of the Treasury, the U.S. Securities and Exchange Commission, and other financial services regulators.
Subcommittees and Subcommittee Chair:
Capital Markets, Insurance – Paul Kanjorski (D-PA)
Financial Institutions and Consumer Credit – Carolyn Maloney (D-NY)
Housing and Community Opportunity – Maxine Waters (D-CA)
Domestic and International Monetary Policy – Luis Gutierrez (D-IL)
Oversight and Investigations – Mel Watt (D-NC)
ded by the Democratic propagana. See the facts below.
check and checkmate
September 30th, 2008 12:14 pm ET
To your point the GOP in 2004 had a majority in Congress and the WH.
Right now......I'm listening to Obama talking at a rally in Reno....taking credit for an awful lot of the positive additions in the bailout bill.
Did he not sit out on the sidelines?
The house republicans last week said that the FDIC should raise the investment guarantee level from 100 to 250 thousand........but i heard today that obama called Bush to propose this as his idea.
An old pattern.
Obama has a great idea when it comes to raising the fdic insurance to 250k. This would really take alot of strain off of the banking system because people who are at the 100k limit would put more money into the bank. The banks would have more money to secure their loans and the credit cycle could continue. And hurry up, I'm trying to get a new car. Vote for Obama 08 and 2012.