September 16th, 2008
08:00 AM ET
12 years ago

Biden blames Bush, McCain for 'god-awful economic mess'

[cnn-photo-caption image= caption="Biden appeared on CNN's American Morning Tuesday."](CNN) - Sen. Joe Biden, the Democratic vice presidential candidate, said Tuesday that "the middle class is dying" and Sen. Barack Obama's economic plan will reverse that trend by lowering their taxes and raising those of people making $250,000 or more.

Watch Biden on American Morning

"Create jobs, keep people in their homes and increase regulatory oversight of the very people John (McCain) has refused to regulate," Biden said, summing up Obama's plan for repairing the ailing economy.

Earlier: Biden hammers McCain over economy

"We're letting taxes expire for the very wealthy and giving the middle class a fighting chance," he said.

Asked if that amounted to income redistribution, Biden replied, "I don't care what you call it. The middle class is dying."

"The American worker's been left out in the cold," he said.

Biden squarely blamed the economic mess on President Bush's economic policies backed by McCain, including the failure to properly regulate Wall Street, which he said resulted in fewer jobs, increased foreign debt and skyrocketing oil prices.

Biden, like McCain, called for stronger government regulation of Wall Street. "Bottom line is if you come to the federal government to borrow money, we get to look at your books," he said. "That's my money. It's the taxpayers' money."

Biden further blamed Bush and McCain for the "god-awful economic mess at home and abroad." Referring to assertions by McCain that the U.S. economy was fundamentally strong, Biden said the economy was "sound if you're very wealthy."

"It's a disaster if you're a hard-working middle-class family who goes from paycheck to paycheck and worries about paying your mortgage," he said.

Filed under: Joe Biden
soundoff (242 Responses)
  1. Ron was a REP now a DEM

    Bush funding Wall Street , picking up failed institutions, borrowing money from the Chinese. Hell business is good in Washington

    September 16, 2008 09:06 am at 9:06 am |
  2. empty vessel

    So Biden, why is it McCains fault?

    He hasn't done enough as Senator, but what have you done to regulate the industry? Your a Senator are you not?

    Anything Joe with your name on it?

    Bueller, Bueller?

    The facts of the matter here are threefold, sorry sheep BILL CLINTON signed off on the legislation that deregulated the industry, secondly, hucksters like Sharpton and Jackson put so much heat on the industry TO GIVE LOANS TO PEOPLE THEY HAD NO BUSINESS GIVING THEM TOO and can someone simply blame the GREEDY lenders and the STUPID borrowers, real simple and we are going to have to pay, who are WE, the PEOPLE that bought homes we could AFFORD.

    Nothing like trying to shamelessly make political hay while you have done NOTHING to fix the situation yourself.

    Maybe he should stick to plagarism, he's a lot better at copying speeches than giving them.

    September 16, 2008 09:07 am at 9:07 am |
  3. geen

    right on, Joe! the ironic thing is that this 'fundamentally sound' economy of the moron's administration, which is praised by McGoofy in one part of the country, and denounced in others is not due to what has, in other administrations, simply been regarded as a 'correction'...this economy is in bad shape because of the incompetence of the moron's regime and McGoofy just wants to continue 401K investments doubled during the Clinton years..I retired two years ago, rolled it over to an IRA stock investments, and, because of, as Bush and McCain proclaim, this 'fundamentally sound' economy, I have, in two years, seen my retirement funds decrease almost 25%....yeah...this economy is fundamentally sound, all right...and, one other thing, If the democrats loose this election to a man as senile as McCain and as superficial as Palen...they may as well, on january 21st, join bush and his cronies as they crawl back under that rock from which they emerged...Never, in my lifetime, have the democrats had such an opportune time for winning an election and, if the american people choose McCain...well....we truly will deserve the incompetence we elect..maybe that is why de toqueville implied that democracy doesn't really require a great deal of intelligence...

    September 16, 2008 09:08 am at 9:08 am |
  4. mitchell

    joe's right. bush's tax cuts ,during a time of war, and mccain's support of them, is directly related to our overwhelming debt. you just cant spend 120 billion $ a year, on a misguided war, by borrowing $ from china. mccain is such a spending 'cutter', why wont he cut the spending on a war of choice? and start supporting a withdrawal? because he and bush are negotiating to maintain 50 bases ,in iraq ,that the iraqis dont want.

    September 16, 2008 09:09 am at 9:09 am |
  5. Julie

    The democratic party has now found its edge again!

    September 16, 2008 09:09 am at 9:09 am |
  6. Carl from MI

    It's SO true... anyone NOT feeling the pinch, not losing their job, not having their home foreclosed, not being affected by high gas prices, not having to deal with a loved one sent over to fight Bush's War... must be one of the wealthy supporting McCain!!

    Must be nice to live in a comfy, cozy world while the rest of us suffer because of the poor decisions made by those in the REPUBLICAN PARTY!! IT'S TIME FOR A CHANGE, AMERICA!!!!


    September 16, 2008 09:09 am at 9:09 am |
  7. proud army and navy mom

    mccain and his pitbull's party is the main reason we are in the financial mess, now they want us to believe that they will clean it up.

    Are you kidding me! Who amongst us is that dumb.

    September 16, 2008 09:10 am at 9:10 am |
  8. Sherri

    Thank you, Senator Biden. You care about all of us struggling to make a living each day. You have experience, wisdom and a clear understanding of the issues the touch our lives. It is getting tougher out here in the real world every day. We need the team of Obama/Biden to lead us out of this mess. The fundamentals of our economy are not solid, they are crumbling before our eyes.

    September 16, 2008 09:12 am at 9:12 am |
  9. Norcal

    Joe is right. However we all need to take the media to task for not reporting about the dirty politics McCain and croud are doing including false absentee ballots to get democratics unable to vote, challanging voters who in Michigan who have foreclosures, and push/pull calls to jewish voters. We, including the media need to rise up and call the McCain camp out on this stuff. Unless we do it is going to be a repeat of 2000 and 2004. This time however the media knows it is happening but says nothing and is therefore complicit in the offense.

    September 16, 2008 09:12 am at 9:12 am |
  10. ully

    the ordinary people just want to have food everyday in their table !! normal education for their children, and go holiday every year !! wish mc cain can help economy better !! because i am republican !!

    September 16, 2008 09:13 am at 9:13 am |
  11. Mary

    Is he forgetting, he was part of the problem also, his has a vote as a senator also......and do nothing but PRESENT....was of no help to anyone

    September 16, 2008 09:13 am at 9:13 am |
  12. annie - former democrat

    AND what has biden been doing all these years in congress? AND what for 2 yrs. has the dem. congress been doing? Has pelosi got her new jet yet from the pentagon that will fly her non-stop from DC to her home in CA with the private bedroom? Does anyone on the biased news media remember congress has a lower rating than Pres. Bush?

    September 16, 2008 09:13 am at 9:13 am |
  13. Peter in PA

    This is exactly the thing I like to hear from Obama/Biden side. Obama and Biden have to tell the American people to stop voting based on wedge issues like abortion, gun control and religion. Take Palin off the radar. The only reason she is out there is because she is against abortion.

    September 16, 2008 09:14 am at 9:14 am |
  14. Deb, Allentown, PA

    As someone who works in financial services, and someone who also approaches the threshhold at which Obama's tax plan would raise my taxes, I'd like to offer an opinion.

    First of all, the the tax increase for people earning between $250,000 and $603,000 is miniscule. Truly, it amounts to under $300.00.

    Secondly, anyone making this kind of money has many options available to reduce taxes. There are shelters, foundations, stock donations, write-offs, etc. that are out there, and, with the help of a competent financial or tax advisor, can be utilized to minimize any tax impact of the Obama plan.

    Remember, even Alan Greenspan said that America can not afford McCain's tax plan. Vote smart!!

    September 16, 2008 09:14 am at 9:14 am |
  15. chip

    He's been around for 36 years while this storm has been brewing. Where's the Biden Act or a bill for economic reform? Hindsight is a wonderful thing and being a reactionary comes with the added benefit of often being correct.

    Of course, raising taxes during this time is something we can all afford, so press on Joe.

    September 16, 2008 09:15 am at 9:15 am |
  16. williefloyd

    What's the problem with posting today??? Are you only allowing positive mccain-palin posts???

    September 16, 2008 09:15 am at 9:15 am |
  17. ully

    Mc cain and Palin the best combination leader... respect leader and with lack of money for campaign they make a leading !! Joe Biden right,he should ask Hillary to replace him???

    September 16, 2008 09:16 am at 9:16 am |
  18. Tbunny Upper Darby PA

    Thank You, Senator Joe...Who cares what the pundits what to call it? We need change...We need change now...The Repubs and McCain is NOT the answer....

    Obama/Biden '08

    September 16, 2008 09:16 am at 9:16 am |
  19. r sisk, nevada

    I like Biden's direct approach to things. He is not afraid to speak his mind. The economic situation today is a "God Awful Mess" and those of you out there thinking McCain is the solution are wrong!!!! I don't understand how anyone with a brain can think a continuation of what is currently going on is the answer. WE NEED A MAJOR CHANGE.


    We just need to keep saying this over and over because clearly people aren't informed if they could even consider McCain. And don't even get me started on "Caribou Barbie".

    September 16, 2008 09:18 am at 9:18 am |
  20. A. Little

    way 2 go Joe!

    September 16, 2008 09:20 am at 9:20 am |
  21. BJ

    Nah...the Demoncratically-controlled Congress has no blame in this at all...

    September 16, 2008 09:21 am at 9:21 am |
  22. Carl

    I'm sure Senator Biden is speaking from the soul and is trying to convince people he couldn't do anything since being in the Senate since the 1970s...

    spare me those lies... all of you lie...

    September 16, 2008 09:22 am at 9:22 am |
  23. Alex

    he's right

    my mother is working very hard at her degrading school helping with special-need students and my father is working at printing company with substandard pay. They're expressing total dislikes and worries about the direction that the economy is going now and we are having enough of hard time already with paying for my college and I suspect it will be even worse in the future when I take up a full time professional graphic design job. The problem need to be addressed NOW!

    Good call, Biden, I notice that since Bush took office, his policy is downright obnoxious and ignorant and is causing this kind of problem. I'm not sure if attacking McCain about that is a good idea... he's not really involved in this as much as Bush does in last 8 years, but the Republican's policies deserve much of the blame we can give.

    Obama/Biden '08

    September 16, 2008 09:22 am at 9:22 am |
  24. leo.anniballi

    A man and the aparty that no how to fix things, not like Macain or that fool Palin.

    September 16, 2008 09:22 am at 9:22 am |
  25. McCain for Pres.

    The democrats have been in charge of congress for 2yrs. Before that the economy was doing good. Connect the dots

    September 16, 2008 09:23 am at 9:23 am |
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