October 9th, 2008
04:30 PM ET
10 years ago

Obama targets McCain plan, says he's erratic

Obama got tough on McCain's mortgage plan Thursday.

Obama got tough on McCain's mortgage plan Thursday.

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.

Filed under: Candidate Barack Obama • John McCain
soundoff (224 Responses)
  1. Danny from Phoenix

    If McCain knows how to get Osama bin Laden as he claims on a regular basis, why doesn't he let our military leaders in on his strategy? Is he waiting to get in the White House while American soldiers die every day? If he truly knew, either he is hiding it and innocent lives are lost because of it, or the truth is, he doesn't know, its a political stunt, and he's just saying it to attract voters.

    McCain is full of it.

    On one hand he claims he is for small government and decreased spending. Yet he advocated the Bailout Bill ($700 billion dollar GOVERNMENT intervention in capitalism), he wants the treasury to buy out bad home loans with an additional $300 dollars, and he is jumping on the bandwagon and shouting for increased "transparency" and government regulation in business (ie. – GOVERNMENT intervention).

    He's scum, he's a liar. He sold his political soul out to his party. This is not the same McCain from 2000, but is starting to sound a lot like the McCain from the Keating 5 scandal.

    He's scum, scum, SCUM!

    October 9, 2008 02:40 pm at 2:40 pm |
  2. wwf

    After reading so many articulate and well thought out posts, I have finally seen the light. I now know why some animals eat their young, I fully understand what justifiable homicide means and I also realized that it inforced my belief in retro active abortion. Thank you McCain, Palin, Cindy and especially your supporters. For the fist time in my life, I am going to make a donation to a political campaign. Guess who it is to! Thats right! THAT ONE!

    October 9, 2008 02:40 pm at 2:40 pm |
  3. Madeleine in Missouri

    Well said, Obama! The moody tone of McCain's campaign has been exhausting to follow. If McCain would run the country anything like he's run his campaign, we'd be in for a very turbulent 4 years!

    October 9, 2008 02:40 pm at 2:40 pm |
  4. Griff

    With your plan mr... The Hospitals would be saturated with patients.
    You would need half as many nurses again..

    October 9, 2008 02:40 pm at 2:40 pm |
  5. Black and White for Obama

    Well this is not the only time will see or heard Mccain flip flop on all issues.
    So this is not a news. Mccain does not have any plans for American people, he just want to be president or have his name written in the presidency history.

    He has no plans of his own.. which he claim. flip flop flip flop..Mc

    Okay if u was really serious he should sold 4 of his homes mansion to finance or help the country. He fell into riches so he has no idea how to work hard to earn money..
    Most of his life he's been pushed thruogh school by his dad, helped got into offices.
    So what does he know.

    October 9, 2008 02:41 pm at 2:41 pm |
  6. Cuban-mami-4-OBAMA

    Oh PLEASE, can the meaning-less attacks stop? Does the far-right have anything to offer.........America........ besides attack??? Lies????

    We, Independents, are not buying the Republican-fear-attack-and-lie propaganda!

    McCain has plenty of skeletons in his closet.... so be careful!

    October 9, 2008 02:41 pm at 2:41 pm |
  7. An Independent

    McCain has too many issues to list. I want to know when he will start showing true leadership and stop calling Obama a terrorist, and stop allowing death threats at his Klan rallies. I'm a disappointed white woman who will not be voting republican this year. Obama needs to give me some more specifics, but thus far, I think he's got the character thing under his belt.

    October 9, 2008 02:41 pm at 2:41 pm |
  8. Bravado in Boston

    As I've been saying – CITIZENS FIRST. We have to take care of our own, and our country will survive. COUNTRY FIRST is a failed idea in these uncertain times.

    If you vote Republican, you will get what you deserve....grab your boot straps and sing loudly!

    Here's your chance. You don't have to tell anyone. Just vote your heart.

    Our country is becoming the NEW ROME. "We don't need another Nero."


    October 9, 2008 02:41 pm at 2:41 pm |
  9. Shawn - Ga

    I have posted 4 times about Obama and ACORN, whya re they not even showing up as waiting for approval??? Do you have filters to block words against Obama now???

    October 9, 2008 02:41 pm at 2:41 pm |
  10. Agness

    enough already!!!!!!!!!!!!!!!

    McCain and the rest of Republicans had many years to fix the problems, improve the country and now we have one big mess to deal with, and you can not blame it on Congress that is constantly being bombarded with expensive ideas to fix the economy... the air is stale, I really hope Obama wins, and we all live within our means, and start restoring our balance in the checkbooks, our priorities and make this country great, as it should be.... we are all in it, time for a great change, and time for great actions,

    OBAMA all the way, join the move people, we are better than the crisis, and better than the problems! We can take this moment to improve not only our live, but this whole country, it's been a while!

    enough already!!!!!!!!!!!

    October 9, 2008 02:42 pm at 2:42 pm |
  11. was4hillarynow4that1

    People ought to realize by now that McCain is only going to endorse "plans" and ideas that benefit big business, CEOs, lobbyists, and the rich. The man has got to look after his wife, after all (said with heavy sarcasm).

    I'm glad I had the opportunity to go back to school so I could get a better paying job. It worked. Trouble is... the Bush administration has put me right back at square one...living from paycheck to paycheck.

    Any "plan" McCain has is likely to drive me right over into the poor house. I know I can't afford another 4 years of the same. Can you?

    Pray that Obama/Biden wins...

    October 9, 2008 02:42 pm at 2:42 pm |
  12. Tony in MT

    This idea of McCain's is so clearly a bad one, it makes me wonder how it got to the point of him introducing it at the last debate. You would think that someone in his campaign would have realized how easily the Obama campaign could denounce it as a poor plan and make McCain look even worse. The fact that no one did says a lot about the kind of presidency John McCain would have. Thank goodness he will never get the chance.

    October 9, 2008 02:42 pm at 2:42 pm |
  13. Another crash and burn from pilot McCan't

    McCain is erractic. He always has. After crash and burning several of the Navy's jets, he wants to pilot the most powerful machine ever. NO thanks.

    Too bad the Straight Talk Express couldn't run on moose poop!

    Navy Veteran in Norfolk, VA for

    October 9, 2008 02:42 pm at 2:42 pm |
  14. H. Hicks, FL

    Mr. Obama...
    To date..all the standard economic indicators: unemployment, GDP, and wages–are trending pretty good considering the horror stories emanating from Washington–and you.
    Despite that–you demonstrated little to the average unemployed or laid off American of what kind of jobs would be available in your "Green Jobs Program" which, by the way, will take 5-7 years to create.

    McCain–wants to focus on educating and training people for jobs that are needed and availalbe today.

    Go back to Chicago Barack Hussein Obama–you are not likely to find the level of ignorance and dependance on the government you are accustomed to.

    We don't want handouts or pipe dreams.
    We want respect and reasonable employment to support our families. Unlike you Mr. Obama..we don't live in a dream world...we live in the real world.

    October 9, 2008 02:42 pm at 2:42 pm |
  15. TexicoFrom Mexico

    McCain is so out of touch with the comman man /woman it's not even funny anymore! In fact seeing those two McCain and Palin spew hate at their KKK rally's is gett rather old. We are now hearing that David Duke was given an award at McCain's church? It is so obvious that Palin and McCain are against every person of color and in the "White" community (yes I am white) even I know that the words "Muslim" , Terrorist are just really code words for Black. It's the whites way of justifying their position as its no politically correct to say im not voting for that guy hes black! And thats the bottom line and it is a sad commentary on the state of racism in our country. I am not really sure how far we have come ......

    I can't believe that the media is at least not jumping on Palin for not telling those people "hey, thats uncalled for and we dont want the here!" All the RNC did and now these KKK hatefests are doing is showing come Nov 4th there is going to be alot of BAD BLOOD no matter the outcome!

    Veterans for Obama

    October 9, 2008 02:42 pm at 2:42 pm |
  16. matt

    McCain also said in the debate the other night he "knows" how to get Bin Laden, and that hes "sure" he can get him. It makes one wonder why he doesnt share this knowledge with somebody, you know? Maybe hes waiting until he gets in office so Bush doesnt get the glory, like when Reagan made those hostages delayed in getting released so Carter didnt get any recognition.

    Alls fair in politics, especially if youre in the GOP!

    October 9, 2008 02:42 pm at 2:42 pm |
  17. Brian

    McCain has acted WAY too risky for Americans in this time of economic turmoil.

    I want a president who is the calm in the middle of the storm. Electing McCain would be like asking the guy who drove the Exxon-Valdez to run the country. Drunk and headed for the rocks.

    Obama has stayed calm and collected from the beginning of Hillary Clinton's attacks all the way through the second debate. He's the only guy I can vote for.

    October 9, 2008 02:42 pm at 2:42 pm |
  18. G. Robinson

    Fortunately, Obama is in a position where he can discredit John McSame because a majority of the American people feel the same sentiments. I just happened to be flicking through channels a short while ago and happened to come across the racists network FOX news. They are out to get Obama no matter what they have to say. This whole Ayers link to Obama is ludacris.

    Let's face it there are whites in America who do not want to see a black man running this country because of the color of his skin. These people aren't worth addressing, but to those of you who are still undecided, please do not let the color of Obama's skin influence your decision. John McSame could care less about the plight of the American people. he and his family DO NOT have to STRUGGLE.

    Racists don't even care if you are bi-racial. To them one ounce of African American is too much. The funny thing is we all have white and black ancestors. I pray that Obama gets elected into office and that FOX news is wiped off of the face of television forever.

    OBAMA/BIDEN 08-12

    October 9, 2008 02:42 pm at 2:42 pm |
  19. Tom WI

    I Agree McCain is as erractic as his campaign.

    When you are on a boat in a raging storm you need a captain with steady hands, McCain doesnt have steady hands. He is a risky gambler. The boat will surely capsize.

    McCain just said he intends to bring up Ayres and Accorn in his next debate. Will wait and see. He still keeps trying to prosecute Obama for other peoples sins. Instead of focusing on the economy. McCain is soooo going to lose and they know it.

    Only Democrats can reverse the direction of the economy. The same way Bill Clinton used Democratic principles to build great economic properity.

    Vote Democrat. Vote Obama 08.

    October 9, 2008 02:42 pm at 2:42 pm |
  20. RG

    I wonder what people think about McCain's tax cut for CEOs. It is estimated to be an additional $700,000. Is he for real? Now that is a maverick!!

    Vote Obama 08!!!

    October 9, 2008 02:42 pm at 2:42 pm |
  21. chas alabama

    Maybe we should ask the Keating crooks how to handle it,

    October 9, 2008 02:42 pm at 2:42 pm |
  22. Susan

    I wish both candidates would STOP BEING SO NEGATIVE.

    Let's hear about the real issues of our country.

    October 9, 2008 02:42 pm at 2:42 pm |
  23. T-Heel

    Is it November 5 yet? I am so ready for this bad dream to be over. I hear a Johnny Horton (?) song coming on..."North, to Alaska." Go Home Sweet Home, Sarah dear.

    October 9, 2008 02:43 pm at 2:43 pm |
  24. Nathan,

    McCain seems to be throwing things out there to see if it resonates with the public. There dosen't seem to be much thought behind anything he says. He changes his mind the way a woman changes her dress gettting ready for a big date. Thats not sexist is it?
    At his age one would hope that McCain would let this thing finish with some dignity. Why would he want the last national memory of him be a senile old bitter man beaten by a younger smarter more energetic man. He is really starting to look pathetic and shameless. His tactics and the tactics of the witch, oh I'm soory her pastor took care of that, Palin are going to force Obama to make McCain look even more pitiful. They don't seem to know what they're doing from day to day from cutting and not cutting Medicare to talking and not talking aboit Ayers. This is really amateur hour.

    October 9, 2008 02:43 pm at 2:43 pm |
  25. Chuck

    I don't know what happened to McCain. He was very sound, stable, and principled before this summer. To be clear, I support Obama. But I always liked McCain. The long line of behavior – selecting Palin, supporting the extreme right agenda, smearing Obama, back and forth over the economy, "suspending" his campaign, etc. – are gimmicks that portray him as irresponsible and, as Obama says, "erratic." Geez. We need the old McCain back to galvanize, not divide, the country.

    October 9, 2008 02:43 pm at 2:43 pm |
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