TOLEDO, Ohio (CNN) – Barack Obama said the average American consumer is facing an “immediate economic emergency” and steps need to be taken right away to stop things from any getting worse.
Watch: 'J-O-B-S,' says Obama
“If Washington can move quickly to pass a rescue plan for our financial system, there’s no reason we can’t move just as quickly to pass a rescue plan for our middle-class that will create jobs, provide relief, and help homeowners,” Obama told Toledo voters. “If Congress does not act in the coming months, it will be one of the first things I do as President of the United States.”
Obama proposed $60 billion worth of measures his campaign said would offer “relief” to homeowners and workers. Many of the ideas build on policies Obama has already proposed and authority the government already has. The campaign suggested many of them could even be passed in a lame duck session of congress after the election.
The Democratic nominee wants to: temporarily lift taxes on unemployment benefits; allow investors a penalty free withdrawl of up to $10,000 from their 401k or IRA this year or next year; place a 90 day moratorium on foreclosures for homeowners who are “making a good-faith effort” at meeting payment deadlines; and temporarily offer businesses a $3,000 tax credit for “every net new job” added in the United States in 2009.
“It’s a plan that begins with one word that’s on everyone’s mind, and it’s easy to spell, J-O-B-S. Jobs. We’ve got to work on jobs,” he said.
John McCain’s campaign told reporters on a Monday afternoon conference call that Obama’s plan would have little impact — adding that the Republican nominee would be unveiling economic proposals of his own on Tuesday.
Listen: McCain advisors blast Obama's proposals - and tell reporters how the Republican nominee plans to counter them
Obama’s job message could play well in the Toledo area. Recent data puts the city’s unemployment rate at close to 10% and the number statewide at 7.4 percent. These numbers are expected to rise given the recent economic downturn.
Northwest Ohio, where Obama is spending three days preparing for Wednesday’s final debate, is considered a crucial swing area. John Kerry handily won mostly Democratic Lucas County, which houses Toledo, in 2004 but lost almost all of the surrounding Republican leaning suburban, exurban and rural counties.
Upon his arrival Sunday, Obama canvassed a neighborhood in Holland, just West of Toledo, where many residents expressed concern about the home foreclosures on their street and not being able to pay the bills.
This area, according to Eric Rademacher of the Ohio Poll, “has been a fairly good predictor of how the state goes.” Given the current economic climate, Rademacher said he would give Obama the advantage here - but noted that the state of the race could change several times before Election Day.
Well now obama has put a plan together and I like it, what an idea to let people take out of their 401k plan this year without penalty. This is a person who really cares about his fellow americans.
Greg in Mpls Thanks for reminding Rob that we have had enough of the repugs!
Now that's the problem "jOHN MCCAIN SAID", searching for ghosts
BOOOOOOOOOOOO Happy Halloween
Is the fact check about Obama right? It says that the bill would allow unions to form without a secret ballot but not that it would take away secret ballots from other votes that are done within the union. Is this taking away the "right" to a secret ballot as John McCain says, or just making it easier to form unions like Barack Obama says?
Some of you folks need to get a grip. The headline could say that Obama kicks cats for fun and most of you would blog on and on about how he is the best cat kicker ever and he looks so Presidential doing it. Then say Take that Mc(fill in the stupid remark) you can't kick a cat nearly like Obama can. He is imperfect you know???
CNN, why aren't the Electoral Map & the Election Tracker Map in sync? They don't even show the same tossup states.
Good luck with your socialistic reform Barack!
"My attitude is that if the economy's good for folks from the bottom up, it's gonna be good for everybody ... I think when you spread the wealth around, it's good for everybody." – Barack Obama
No WAY I am spreading my wealth around to anyone else except my children. No one else deserves the things I have worked so hard for. Especially freeloaders, illegal immigrants and those that do nothing all day.
I'm from OHIO & I'm voting for OBAMA! My mom, my son, my sister, friends & Other family members are voting for Obama.. So don't blame everyone from OHIO if (hate to say it) Mccain is our next President.
Also none of the above voted for Bush either. I agree that SOME Ohio voters need to wake up & see what's at stake if Mccain & his gang get the vote! Don't blame All of us!
Obama / Biden '08 all the way Baby!
Dear White woman of 63 for Obama from Day 1:
Thank you for asking people to read my earlier post in the Biden ticker. I just need to make one correction, I am also a White woman of 43 for Obama from Day 1 :-) Not all people that were enlisted "years ago" are men but I am glad to have served my country in a time of peace. Thank you again!
Obama laid out a solid proposal today Kudos!!!!
Obama / Biden 08
Hillary you are wonderful!!!! JOBS baby JOBS!!!!! :-)
I love how is tells these people what they want to hear... do the math, if everyone started pulling out of their 401K with no penalty, that wouls make the stock market / economy situation even worse. My goodness folks, just because it is what you want to hear doesn't make it right.
It is like raising children:
Like Obama, you can tell them yes and everything they want to hear. You will end up with a terrible adult due to being raised with no limits and no structure. The country will be fat and happy at first, after a few years it will all catch up to us.
McCain treats us like adults, tells us how it is. I would rather swallow that hard pill of truth than have things change greatly once Obama is elected and he can't do 90% of what he promised.
Ask IL how they like the tax breaks they never saw that Obama promised when running for senate.
This guy is looking more presidential than Bush ever did, and we're still three weeks before the election.
Can't he just get in the driver's seat NOW?
Barack, I see your buds in the House are leaving out the republicans again on the stimulus package, I hope it goes down in smoke like the first bail out bill. We do not need to add more to the deficit. Tell your House leadership that they need to work on something like this as bipartisan not a democrat increased deficit bill. More spend and tax democrats. Also make sure that Americans are working the infrastructure not spanish speaking obviously non Americans working on the projects. When I drive by road work the only Americans I see and hear are sitting on the heavy equipment.
GO OBAMA GO.
I'm with you Scott. I don't want to pay for all the lazy freeloaders, who work the system and stay home collecting their freebies. Forget about Illegals, they don't even pay taxes.
Divide and Conquer from within the Socialist motto!!!!!!
please relate to me how voter registration affects polls BEFORE the election?
also... please tell me how one can commit voter fraud BEFORE voting?
THE ACORN 'THING' IS A BOGUS CLAIM. TRUMPED UP AND PUSHED BY FOX... The reason the attorneys were illegally fired, is because they were told to investigate and prosecute ACORN... AND THEY FOUND NOTHING. THAT is why Alberto Gonzales fired them.
now... you got this bogus claim trumped up because the republiCONs are gonna get their clocks cleaned after 8 years of incompetence in the whitehouse, and a republican congress 6 of those 8 years.
The democrats were working on jobs since Bill Clinton where he created 20 million service jobs (McDonalds) and lost 250,000 manufacturing jobs. Barack is going to have a hard time creating more McDonalds and the telemarketer jobs since the telmarketer jobs were shipped over to India!
Day late, and dollar short?
No one wants your money, you ninny. And in any case, you don't make more than $250,000 a year, so you needn't agonize over it.
Where do we get the 60 billion to pay for this?
Obama has it right. That's a government of the people, by the people and for the people. I don't see those households taking the money while running off to relax at a posh resort because of the rotten economy like AIG.
Today was a turning point!!! Dow is up over 900 points, and the rest of the world has taken steps to relieve the economy...McCain will rise in the polls by week end!!!
We can work with Obama to move ourselves & our great country forward ! Yes We Can !!!!
I don't understand how this is going to create jobs? Why would a company struggling to survive under Obama's tax burden hire more people that they won't be able to pay for a $3,000 tax credit? Unless you’re paying them less than $3,000 a year, how is that a benefit? Here's a crazy idea, just cut their taxes from the get go; why the tax, then tax credit game? Also, allowing people to pull money from their retirement will take more money away from the stock market, which is what you're trying to help... Letting irresponsible people who made bad decisions about their houses not suffer any consequences is a great idea too. Why even attempt to live within your means if there are no consequences, mansions for everyone! Really looking forward to four more years of faulty logic to make ignorant voters feel warm and fuzzy!
Democrats can only hope that economic despare and suffering continues through the election....While everyone else can look to a brighter day today, with John McCain :)
Sounds like a good plan to me. The tax credit for businesses hiring people makes much more sense than a tax "rebate" to people who have little choice but to spend it on foreign-made goods. Rebates benefit China more than they do us; while hiring U.S. workers benefits us many times over.