DAYTON, Ohio (CNN) – Barack Obama called John McCain’s plan for the government to buy back bad mortgages “risky” because it leaves already burdened taxpayers with the bill.
“We have to act to fix our broken economy and restore the credit markets. But taxpayers shouldn’t be asked to pick up the tab for the very folks who helped to create this crisis,” he told an 8,000 plus crowd in a Dayton minor league baseball stadium. “It’s a plan that would guarantee that American taxpayers lose by handing over $300 billion to underwrite the kind of greed and irresponsibility on Wall Street that got us into this mess.”
Obama also got a little personal; seizing on the fact that the McCain campaign originally indicated Tuesday he supported purchasing mortgages of strapped homeowners at a discount. But by Wednesday his proposal had changed and instead called for the government to buy the mortgages at face value even if they were worth more than the home itself.
Related: Obama: McCain's mortgage plan shows 'erratic' leadership
“This is the kind of erratic behavior we’ve been seeing out of Senator McCain, you remember the first day of this crisis he came out and said the economy was fundamentally sound, then two hours later he said we were in a crisis,” Obama said. “I don’t think we can afford that kind of erratic and uncertain leadership in these uncertain times. We need steady leadership in the White House. We need a President we can trust in times of crisis.”
Obama said McCain would be encouraging lenders to “keep up their bad behavior” because they would not be punished for poor business decisions. Obama also said McCain’s proposal “wasn’t particularly new” as he himself had encouraged buybacks as a way to keep people in their homes and the Treasury secretary was given the power to renegotiate mortgages in the congressional bailout package.
Ohio boasts an unemployment rate of over 7%, and Obama said he has been “fighting” to extend unemployment benefits for those seeking work while McCain has done “nothing.”
The Dayton rally and “jobs” themed bus tour marked the beginning of a concerted personal push by Obama in Ohio. While he has visited the state eleven times since the end of the primary season, he has recently left the state to surrogates, including his running mate Senator Joe Biden. Thursday and Friday, Obama will cover the southwestern and central portions of the state.
McCain is worse than erratic. Obama's just being nice. The truth is McCain is beginning to suffer from senile dementia. He reminds me so much of Ronald Reagan at the beginning of his second term. This isn't a bad thing and it will happen to us all eventually. But we cannot afford to have a senile president in thise hard times. This is especally true because of his choice of running mate.
The GOP is a stinking corpse. As soon as this last generation of right wing conservative nuts dies off, which will unfortunately take up to 20 years, the GOP is finished. Never again will we vote for someone we could see our selves eating pot roast with. How retarded is that?
mccain is being so dishonerable right now. what a shame to go down this way. he has become the ugliest lieing, nastiest politician i have ever seen in my 63 years of watching politics. cindy should be ashamed of dragging in her son on this nasty take-down. sarah palin is responsiable for these rallies that are now turning to nasty clans. why can't the american people hear who she really is? her back ground is both scary and dishonerable. she is not who she pretends to be.
say it to his face mccain! you coward!
"Erratic" is code for "old." These ageist attacks must stop.
We even can't stand Obama here in Illinois. You all in the rest of the USA are in for a rude socialist awakening if you actually elect this clown.
Mccain is acting more unamerican and showing that he's full of hate!
McCain's the unintelligent, disrespectful person in this campaign!
Mccain is the one that is showing NO honor!
Senator McCain has always been that way and will continue to go down that shakey, messy path to his distruction. The Republicans have tried to distroy the Democratic Party and Senator Obama from the time he said that he was running for President and they underestimated him and his abilities so now they are trying to defame his character with lies, deception, racisim and just playing to the Devils charms. They have even gotten the SkinHead Policeman to get up there at a rally and try to scare the people. WELL THE AMERICAN PEOPLE HAVE CAUGHT ON TO THEIR UGLY, LIES AND DECEPTION AND CORRUPTION.
At least Senator Obama shows up to campaign every state. NC is going blue, and it wouldn't surprise me if Georgia goes too, and well we already know Virginia is gone. The one who actually shows up is in the end probably get more votes. Senator McCain don't count us out yet because we are about to decide your future.
The Glenn Beck commentary by the was was pretty worthless.
Rob October 9th, 2008 2:27 pm ET
Maybe we should ask Rezko how to handle it. just a thought….
Rob, you're an idiot. Just a thought...
Erratic is the BEST description for McCain
McCain = sad, desparate, unbalanced, not fit for any public office.
Palin = she should be ashamed of her behavior.
Obama = Cool, intelligent, heopfull
OH, I get it. Obama waits in the weeds for McCain to take a stand, then weed whacks his comments. Great leadership there, Barry. Typical liberal – incapable of REAL leadership.
Rob October 9th, 2008 2:27 pm ET
TRUST Obama? That is hilarious!
I watched McCain today in Wisconsin..........he scares me! Palin in still a joke!!!
I'm not sure how you can't like this guy! What he says and how he goes about making things happen around him simply makes sense. I know getting everything turned around will be a very tough job but I don't just think, I know Obama has what it takes to make it happen. Vote with your mind and intelligence and you can't come up with a better answer than Obama/Biden 08.
Obama all the way to the White House!!!!! The only one with a cool, steady hand!
How about asking Keating!?!?!?
I'd trust Toni Rezco over John McCain with fixing the US Economy.
American is in such turmoil that we need someone extremely bright, calm and with some real inspiration/vision
McCain is trying to rally the hate in this country! He should be removed from this campaign!!!!
Who in the world would want such a hateful person such as this in the White House-
God's fury will show itself to McCain and when it does, that's when he'll experience "real" fear!
Rob – that has already been debunked MANY times. Let it go.
Voting Oct. 16 for THAT ONE '08
erratic is a nice word, I would say he has totally lost it.
Obama keep eye on the prize!