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. Joe Regis

    Way to go Joe!

    No naked-lies and deception shall remain unexposed.

    No more republican in the white house this year.

    September 16, 2008 10:04 am at 10:04 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 10:05 am at 10:05 am |
  3. Praetorian, Fort Myers

    and let's not forget where he's been the past two decades...I'm sure he's had no part in it...particularly the huge credit card vendors and banks chartered in Delaware–who've kept him flush with capital to continue winning his reelections.

    September 16, 2008 10:07 am at 10:07 am |
  4. Becky

    I saw Biden speak right after McCain on the Today Show this morning. McCain sounded like such a robot! Grow a pair!

    Biden gaves ANSWERS to how to fix the financial mess we're in. McCain just kept repeating, "We'll fix this." McCain will just wait to see what Obama/Biden says, and then he'll say, "Yeah, what they said."

    September 16, 2008 10:08 am at 10:08 am |
  5. JDM

    When you see the same poeple who help make this mess grow standing behind Mcain or speaking for him. It's crazy.
    It's just to easy to blow off his takling points. His comments require you to totally forget what he said after you heard him say it!
    You wilI need to stop thinking to undersatnd or belive what he is telling you. Just crazy stuff.

    September 16, 2008 10:09 am at 10:09 am |
  6. yonimal

    Republican strategy is leave it to the market to take care of everything , weakth will trickle down. I am not trusting the market to do anything for us. My god, with the greediness of the CEO's they will feed poison to babies if they can get away with it. I am not ready to leave everything up to the CEO's to take care of the common people. Enough is enough people. To me it is common sense to elect Obama. I don't know why independants will even think twice after the ugly and dishonorable campaign from McCain. People, by voting for McCain remeber you will have blood on your hands from the number of american soldiers and hundreds of kids who die in other countries when we start un-necessary wars like the Iraq war. Just think about it.

    September 16, 2008 10:10 am at 10:10 am |
  7. Gracie

    Obama's supporters are not feeling the pinch –

    They are paying $28,500 a plate tonight for an Obama fund raiser hosted by "Babs".

    Obama will be there to enjoy his meal.

    Why aren't they donating to help the Hurricain victims?

    And generous "Joe" Binden who gave less than 1% of his total salary to charity.

    September 16, 2008 10:10 am at 10:10 am |
  8. JImmy in California

    You go Joe. Every time a Republican rears his ugly head slap it back down to prevent the lies from spilling out of their mouths.

    September 16, 2008 10:11 am at 10:11 am |
  9. RobinLC

    Give 'em hell Joe. Hold republicans accountable.

    September 16, 2008 10:11 am at 10:11 am |
  10. TAYO, NY




    NOTHING, NADA, PERIOD...........





    September 16, 2008 10:11 am at 10:11 am |
  11. Sarah.....and my last name isn't Palin!

    I couldn't agree more Mr Vice President.

    September 16, 2008 10:13 am at 10:13 am |
  12. ran

    Voting Obama/Biden and other Democrats is the way out of all these problems that the Republicans have put this country through in the last 8 yrs.

    September 16, 2008 10:14 am at 10:14 am |
  13. Scott NYC Independent

    Either McCain thinks we are stupid or he is ignorant of the economy and its current crisis. Anyone knows from eco 101 that when discussing economic fundamentals one is addressing the basic foundations of economic theory, not people. Most of the country may not know those details but guess what – we all know that people are not fundamentals. So either we're stupid and he's talking down to us or he's ignorant and trying to deceive us into thinking he is knowledgeable.

    Five of the nine parts of economic fundamental theory.

    What do we mean by wealth; and what determines economic growth?
    Factors affecting performance in the industrial economies.
    Factors affecting economic and social development elsewhere.
    Employment, engagement and exclusion.
    Funding the state: sources of income, drivers of expenditure.

    Yet he did not know this. I guess he is right about one thing – economics is not his strong suit.

    September 16, 2008 10:15 am at 10:15 am |
  14. CitizenS

    Biden was a great interview this morning, placing the facts where they should be. On the other hand, McCain was lying through his teeth even when the reporter countered what he said with fact he still insisted on his LIE. This is what the american people want to be talking to Iran and Russia??? Because he was a POW that gives him credibility, give me a break. Those 2 countries will be the first to eat us alive while we smolder in our Bush/McCain broken economy. Go ahead and vote for him, you are not afraid yet but you will be.

    September 16, 2008 10:15 am at 10:15 am |
  15. rusty


    September 16, 2008 10:16 am at 10:16 am |
  16. McCain for Pres.

    If you think Joe Biden tells the truth then why didn't you listen when he said Obama is not experienced enough to be President.???????

    September 16, 2008 10:16 am at 10:16 am |
  17. no trickle down...

    I saw both interviews...
    McCain was so wishy-washy
    Biden provided the meat and potatoes, and was right on point!

    The Republicans are recking America.
    Obama and Biden need to run with this message all the way to the Whitehouse.

    September 16, 2008 10:17 am at 10:17 am |
  18. Educate yourselves

    Go read a book people! Did anybody listen to Joe Biden on the Today Show? He is absolutely correct. It was the Republicans that allowed the de-regulation of Wall Street that caused this mess! Since John McCain agrees with GWB 90% of the time, it is fair to say that he would continue the same failed economic policies. Less government does not work! When we give these big companies tax breaks they pocket the money. (They do not create more jobs for American workers). Even John McCain is saying that now he is for stricter regulation when he called himself a "de-regulator" a couple of months ago.

    PS Did anybody notice that oil is the lowest its been in months but gas prices are soaring? Here's a clue for all the "drill baby drill" sheep. Oil does not equal gas!!!!

    September 16, 2008 10:17 am at 10:17 am |
  19. Jyoung

    BJ you arent really going to say that a dem congress of 2 years has anything to do wiht the meltdown the republicans have been creating for 7 years. please get real and get in touch.

    September 16, 2008 10:17 am at 10:17 am |
  20. Gary Preston, Annandale, VA

    The truth is, for all you no tax morons, that let's go ahead and get rid of everyone's taxes. But remember, then we will have no military or Department of Defense, no police or firefighters, no roads, no bridges, no social security, no government, etc., etc. Pure anarchy. Which country (with taxes to conduct foreign affairs, global business and build a strong military) do you think would be the first to take over the USA? Give me a break. We as a nation live or die together but you jokers are pushing the bus with everyone aboard straight over the cliff!

    September 16, 2008 10:17 am at 10:17 am |
  21. Open Your Eyes

    This probably won't see the day of light, like all my other posts, but I'll still try again.

    1. The Democrats have only been in control of Congress 2 of Bushes 8 years as president.

    2. Anyone that can state "the economy is strong/fine" is clearly fooling themselves and has been living under a rock the last 3+ years.

    3. Our nation's capital boasts an illiteracy rate of 88% for eighth grade students.

    Yet here we are following the non-issue carrot on a string and stick being guided by the media. Stick to the issues because if we don't this country will be truly be broken. The Obama/Biden ticket has shown their resolve to do so. Now if only the McCain/Palin ticket would do the same. The election is the heaviest ever...

    September 16, 2008 10:17 am at 10:17 am |
  22. Ed

    Get 'em Joe. Americans need to know the truth.

    Vote Obama-Biden !!

    September 16, 2008 10:18 am at 10:18 am |
  23. NSJ

    Get 'em Joe!!!!! Let 'em know that the days of the successful slime-spewing, no-substance, making the rich richer and the poor poorer Rebublican machine are over. Today, with Obama and Joe, we have two tough, smart, and dedicated leaders who have not only the bark, but the bite!!!!

    September 16, 2008 10:18 am at 10:18 am |
  24. anon

    how many jobs will be lost if Obama/Biden are elected and saddle small businesses with more federal mandates to increase wages and benefits?

    Small businesses already have a hard time competing with big chain stores with lower operating costs.

    Obama's plans will make mom and pop stores go the way of the dinosaur.

    September 16, 2008 10:19 am at 10:19 am |
  25. no trickle down...

    I agree with Sam...
    Obama needs to call an urgent media conference on this issue today and now.

    September 16, 2008 10:19 am at 10:19 am |
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