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. Kim

    THANKS, Barack!!!!! We admire your calm and steady leadership. "Erratic" is an understatement. I'm voting for THAT ONE '08!!

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

    Quit saying we don't know Obama. He's been on the national stage for 2 YEARS. Palin, what did she say, has been at this for 5 weeks? Obama's written 2 books, read them. McCain has books that have his name on them, but he's admitted to them being ghost written.

    Ayers and Rezko, that's the best the Party that destroyed America can do? Do better...oh wait, you can't. Hillary already tried this angle, doesn't work on intelligent people. Americans, give yourselves credit for not drinking the kool-aid this time.

    Obama 08

    October 9, 2008 02:45 pm at 2:45 pm |
  3. Aleisha- Miami

    McCain is so erratic. Seriously if you did a blind test without any tellers or names on the test and everyone of your answers were Obama's answers, and you still wouldn't vote for him? Hello it has to be about race. People are not voting in their best interest. I have said time and time again that people who make less than 250K and minorities should never vote Republican. They don't care about you!

    October 9, 2008 02:45 pm at 2:45 pm |
  4. k2

    Obama is Chicago politics at their finest. That's not a complement.

    October 9, 2008 02:45 pm at 2:45 pm |
  5. Annie, Atlanta

    Senator Obama was being kind to Senator "My Fellow Prisoners" McCain. This man is too old, and now appears to be losing it. And his vp is out there inciting hate. This is a disgrace to every one of us.

    October 9, 2008 02:45 pm at 2:45 pm |
  6. Shirley-Ohio


    October 9, 2008 02:45 pm at 2:45 pm |
  7. Don from Maine

    Just another example of this pathetic republican ticket that will say or do anything to get to the white house. I don;t think calling McCain "erratic" is getting too personal. If anything it seems to be the truth. Americans want a leader with a clear and well laid out strategy for the future. So far from the McCain camp all we've seen is flip flop after flip flop. That is not leadership. You can put lipstick all over this ticket but it still won;t make it look any better. A dog is still a dog no matter how fancy one might dress it, The American voters will speak clearly and loudly on November 4th and put McFossil out to pasture while sending Caribou Barbie back to the frozen tundra.
    BO '08

    October 9, 2008 02:45 pm at 2:45 pm |
  8. Louis - Los Angeles

    McCain's plans favors the fat cats. All this guy needs is a top hat and a monicle.

    October 9, 2008 02:45 pm at 2:45 pm |
  9. Election Watcher

    Hey, Mister Obama! You say you first started sounding off about the economy two years ago. Then tell me who's sleeping on the job when you've had a Democratic majority in the house and senate for two years, but did NOTHING to rally YOUR OWN PARTY INTO ACTION!!!
    "O" = zero

    October 9, 2008 02:45 pm at 2:45 pm |
  10. voting 4 that one!

    McCain wants to fight wars, bail out mortgages and bail out wall street. But has not given an answer on how he plans on paying for it.

    October 9, 2008 02:45 pm at 2:45 pm |
  11. Barbara

    Actually Obama is being restrained to call McCain erratic; he's much worse, he's a dangerous hothead.

    October 9, 2008 02:46 pm at 2:46 pm |
  12. Obama-Junkie, IL

    Yeah, McCain has been erratic and unsteady over the past three weeks with the economic crisis and Palin interviews. The American taxpayer has already had to forcefully swallow a $200 Billion rescue for Freddie and Fannie, a $700 billion financial market bailout plain, a $85 Billion loan to AIG and now an additional $40 Billion loan to AIG.

    Now McCain wants to win this election so badly that he will say nearly say or anything to achieve it. McCain's wants another $300 billion of taxpayer money to reward bad behavior?

    October 9, 2008 02:46 pm at 2:46 pm |

    Just left the rally. Totally awesome! Ohio can't afford 4 years of erratic behavior from McSame and clueless Palin. My husband will be losing his job December 23rd, 2008. The economy is in a rut. Dayton is dying. IT"S TIME TO MAKE THAT CHANGE AND WE ARE THE PEOPLE WHO CAN DO IT!!


    October 9, 2008 02:46 pm at 2:46 pm |
  14. Ann in Florida

    Question for Mr. McCain – you keep saying the American worker is strong and our best resource, blah, blah, blah. Why, then, do you continue to support tax breaks to corporations who outsource our jobs to other countries? I can't figure out how this talk and the action connect. Please help me understand.

    October 9, 2008 02:46 pm at 2:46 pm |
  15. Donna

    Obama is right every other day John Mccain is changing his strategy. I do not want a president who cannot make up his mind and does what ever seems popular at the moment. Obama/Biden are presidential. Mccain/Palin not so much, more like comedy hour.

    October 9, 2008 02:46 pm at 2:46 pm |
  16. Jack from California

    We already see John McCain's plan in action just look at the Stock Market today and we can thank John McCain and George Bush.

    Yes the deregulation guys got their way and now you can see the results so, does anybody out there want "another" John McCain plan?

    October 9, 2008 02:46 pm at 2:46 pm |
  17. Hector

    B. OBAMA all the way to the White House.


    OBAMA-BIDEN 2008

    October 9, 2008 02:46 pm at 2:46 pm |
  18. PA Independent

    It's true, McCain has been all over the map on the economic crisis. If he is going to panic and flop around now, what would he do in the White House where the buck stops with him?

    Obama isn't perfect, but at least he doesn't flail around in a panic, worked his own way up and doesn't have a track record of chucking the American public under the bus to benefit himself and his multimillionaire cronies. I'll take that one.

    October 9, 2008 02:46 pm at 2:46 pm |
  19. New Yorker

    To California Gold – He can't make it law because the Democrats have control of congress, remember? As for Obama saying McCain is "erratic" that's just another word for "flip-flop" and we know why Obama wouldn't use that word instead. Look who's calling the kettle black. (No pun intended). McCain/Palin is a better ticket than Obama/Biden/Ayers

    October 9, 2008 02:46 pm at 2:46 pm |
  20. Mccain is a liar

    Palin and Mccain are trying to have Obama killed, they are insinuating he is a terrorist and even in their speeche's you could hear people from the crowd saying kill him, it's insane and they should be arrested for these hate mongering nevermind run for the highest office.

    October 9, 2008 02:47 pm at 2:47 pm |
  21. Larry-Minn.

    where is obama official birth certificate...as demanded in Obamacrimes.com. and how about that socialist group he used to belong to but now denys..even though there is proof.

    October 9, 2008 02:47 pm at 2:47 pm |
  22. ray

    its so clear these morons macain and palin has no sense of what is going on in this country and these two morons are fip floppers. these people should be in alaska watching russia and hopefully they can see iraq and mexico from there

    October 9, 2008 02:47 pm at 2:47 pm |
  23. Keith in VA Beach

    McCain is such a maverick that he doesn't even need to win the election!

    October 9, 2008 02:47 pm at 2:47 pm |
  24. Stacy from Loudoun County VA

    Senator McCain claims he is the "steady hand on the tiller." Yet, he has shown nothing but erratic behavior in his manic campaign:

    1. Selection of an unqualified Vice Presidential Candidate
    2. The "fundamentals of the economy are sound" only to "suspend" his campaign and return to Washington and meddle in discussions
    3. Not even looking Senator Obama in the eyes during the debates
    4. "Turning the page" on the economy when it is Issue One of the discussion
    5. Basically calling Senator Obama a terrorist in thinly veiled racist terms on the stump
    6. Numerous contradictions during debates.

    These are just a few of the things that I can think of off hand. I can only think that the boy Senator McCain was would not like the man he has become.

    October 9, 2008 02:47 pm at 2:47 pm |
  25. Ed Graff

    I watched the debate and most of it was boring except for one small part when Obama commented about AIG and how they partied on taxpayers money and should be sent to jail. Correct me if I am wrong.....didn,t both of them vote for the 'carte blanche' bailout/meltdown bill......no oversight, no committee's, no accountability.....now the government has given them another $38 billion. Maybe this time Senator Obama will get invited to the party. Seriously I think they should all go to JAIL. Isn't there one honest and trustworthy person in this entire country that can lead us.

    October 9, 2008 02:47 pm at 2:47 pm |
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