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. Shay

    If McCain could he would suspend his campaign and cry fowl for saying I am trying to get a deal on mortgage. Now how can that be when John McCain couldn't get his prisoner to vote for the first bailout when he suspend his campaign and then come to Washington for photo ops. He was supposed to veto pork but guest what his prisoner put pork in the bill and he signed it. Now who is really erractic.

    John McCain don't have plan ain't thinking about a plan but just out there shooting off at the mouth. No Plan for nobody. Now the Prisoner(Repulicans) should start asking him to be clear about his plans and stop putting them off. John McCain and Sarah Palin we need a plan.

    Now that Sarah pay more attention to John, 1st Dude is not giving her ideas or suggestions about a country he don't like. Yest Todd Palin first Dude could care less about what this country is all about because he would rather see the star of Alaska removed. What about you Palin do you agree with Todd?

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

    I and many other business people across the nation will cut our work force and pull out of the Stock Market if Obama wins the election, that is not talk, that is a promise..........let him work with that.

    October 9, 2008 02:43 pm at 2:43 pm |
  3. Nevada


    McCain now thinks that he needs to come up with something beyond character bashing, so he did.

    He reacts, but has no foresignt or insight. That is why his actions are so erractic. Just recall what he has done last few weeks, flip-flopping many times. And it is not just last few weeks. I don't know who is now and who he will be next month, next year, because he will erratically change his action based on what he sees and saw, not based on carefull plan.

    He is not qualified for a president.
    (Just see who he picked for his VP),

    October 9, 2008 02:43 pm at 2:43 pm |
  4. That Dog Don't Hunt II

    To truly LEAD you have to have a vision .... a proactive direction for the country.

    John McCain doesn't have this. You've had years to hear this come out of his mouth.

    He's never been able to do it and can't FAKE his way through it now.

    The mere fact that you graduated 894th out of 899 students at the Naval Acadamy DOES NOT mean you are a LEADER.

    October 9, 2008 02:43 pm at 2:43 pm |
  5. Alison B

    McCain/Palin are doing their best to sling lots of mud in hopes that it will stick thus far it has only stuck with those with the same type of mentality as them which does not say a lot about their functionality now does it.

    If we want change that we can believe in, changes that will make a difference not just for you and me but for our children and grandchildren. We want a country that we can be proud of.

    October 9, 2008 02:43 pm at 2:43 pm |
  6. Iraq veteran for Obama


    McCain is seriously out of control. Like we say in the Army, "GOODNIGHT !!! ", he's "ate up".

    October 9, 2008 02:44 pm at 2:44 pm |
  7. Jann in Denver

    McCain is showing signs of senility. We cannot afford to put this man in the Oval office. He is dangerous, out of touch, and out of his mind.

    October 9, 2008 02:44 pm at 2:44 pm |
  8. The Republican Conscience

    CNN, stop baiting. Sure, it's a good point, but how is that personal?

    October 9, 2008 02:44 pm at 2:44 pm |
  9. Brian

    Obama's got the brains, he's got the plan, he's got the team, he's got the talent, he's got the leadership and he's showing it!

    McCain said at the debate the other night that you need a "steady hand at the tiller" ... well Mr. McCain, that might have been the only accurate thing you said all night... and that steady hand will be Barack Obama's come Nov. 4th!

    OBAMA / BIDEN '08!!! Yes we can!

    October 9, 2008 02:44 pm at 2:44 pm |
  10. rosy obama mama


    October 9, 2008 02:44 pm at 2:44 pm |
  11. Tony





    October 9, 2008 02:44 pm at 2:44 pm |
  12. Audrey

    Obama is the best person for this country. My whole family is voting for him including my parents.

    October 9, 2008 02:44 pm at 2:44 pm |
  13. white HRC supporter 4 Obama, Minneapolis

    McCain/Palin are lying racists, who promote hate and war in this country. If they are elected, this country will be more divided than ever. Their hate-filled speeches are designed to try and distract people from the real issues. I have already taken a 20% pay cut at my job and it is likely that I will be laid off soon. McCain/Palin seem to only want to focus on things that don't matter. We all know Obama isn't a terrorist, but they keep talking about it as if it were fact. They have been a complete disgrace to this country and their party. I strongly feel know that ALL Republicans are racists who would do anything to destroy this country in order win. You call yourselfs Christians, but the God I worship isn't a hate-filled warmonger.

    October 9, 2008 02:44 pm at 2:44 pm |
  14. Elizabeth - Texas

    We just cancelled our membership to the NRA for suporting McCain/Palin. Palin the one that shoots animals out of a helicopter.


    October 9, 2008 02:44 pm at 2:44 pm |
  15. Andy J, NY

    @ Ready for change-

    thanks for pulling the race card.

    Boy (can i say 'boy'? is that racist?), you Obama supporters really know how to stay above the fray and run a new type of political campaign.

    Seems to me, you are the most hypocritical of all. The Obama campaign is no different than any other campaign i have ever seen. How is this not evident to everyone?

    You want real change?

    Vote BOB BARR.

    October 9, 2008 02:44 pm at 2:44 pm |
  16. Tony in MT

    Does anyone else take great joy in the irony that the man who was the most vocal opponent to the Martin Luther King holiday in Arizona back in the 80's is about to lose the presidency to an African-American? I know I do! McCain is getting what he deserves!

    October 9, 2008 02:44 pm at 2:44 pm |
  17. GA4OBAMA

    it's entertaining to see mccain wants more big government although he always says he wants less goverment involvement. i think he got bit by the socialisim bug.


    October 9, 2008 02:44 pm at 2:44 pm |
  18. Hannah, NC

    Barack is right, McCain is a bumbling idiot with a fruitcake for his vp.

    The only ticket that makes sense is the Democratic ticket and I can't wait to vote for Barack and Joe on November 4th.


    October 9, 2008 02:44 pm at 2:44 pm |
  19. Jeremy

    Missouri and Iowa for Obama!!!

    October 9, 2008 02:44 pm at 2:44 pm |
  20. cjs

    Obama is calling McCain erratic today, which is true, McCain is calling Ares a terrorist today, not true. I think Cindy McCain needs to learn from Michelle how to be a first lady. Or a lady at that. If she was mad at Obama for voting against the first troop funding bill, she must have busted out of her botox when her HUSBAND didn't support the second one. Please excuse Obama for trying to bring your son home alive lady, that may not be what you want, so feel free to be mad while Mrs. Obama has only nice things to say about you, your family and the whole campaign. There really are clear choices in November. Sarah, how about looking to the future for change like you said in the debate, instead of say 1960 when you were 6? How's your husbands domestic terrorist group doing? Succeeded Alaska yet?

    October 9, 2008 02:44 pm at 2:44 pm |
  21. The Straight Talk Express runs on moose poo..

    McCain doesn't have a clue and never has.

    REMINDER: Republicans had their chance and blew it.

    October 9, 2008 02:44 pm at 2:44 pm |
  22. John in Austin, TX

    What McCain is doing is spreading hate, racism, and discrimination. If you're a supporter of McCain, please explain how you could possibly support this? Can you really support someone who is crawling to the White House on Bigotry Lane?

    October 9, 2008 02:44 pm at 2:44 pm |
  23. Johnny

    "That one" has a point!

    October 9, 2008 02:45 pm at 2:45 pm |
  24. michael

    "Texas Nick" has said it CNN Use this as a sound bite somewhere..would make a great ad Obama?!

    October 9, 2008 02:45 pm at 2:45 pm |
  25. S. Boatman

    Mccain Is Definately Erratic And Unstable! I Could Not Vote For Him! The Way His Campaign Stops With Palin Have Been Over The Last Few Days I Keep Waiting For Palin Put On A White Robeand Introduce Him As The Imperial Grand Dragon!

    October 9, 2008 02:45 pm at 2:45 pm |
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