September 16th, 2008
02:45 PM ET
14 years ago

Obama: McCain would make economy worse

[cnn-photo-caption image= caption="Obama kept up the economic attacks on McCain Tuesday."](CNN) - Sen. Barack Obama said Tuesday that the country is facing the "most serious financial crisis in generations" and argued that rival Sen. John McCain would only make it worse.

"I certainly don't fault Sen. McCain for all of the problems we're facing, but I do fault the economic philosophy he subscribes to," Obama said in Golden, Colorado.

Obama said what's happened in the past few days is "nothing less than the final verdict on an economic philosophy that has completely failed."

On Monday, Lehman Brothers - the 158-year-old Wall Street giant - filed for bankruptcy protection, and 94-year-old Merrill Lynch sold itself to Bank of America. Both developments sent shock waves through Wall Street.

Listen Obama conference call hits McCain on the economic crisis

While Obama was slamming McCain's economic policies, the senator from Arizona campaigned in Tampa, Florida, where he promised to "change the way Washington does business."

"We're going to put an end to the reckless conduct, corruption and unbridled greed that has caused a crisis on Wall Street," McCain said.

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Filed under: Candidate Barack Obama • John McCain
soundoff (195 Responses)
  1. Hypocracy has no bounds

    wow seriously all you obama people who are falling inline like lemmings are part of the problem. Like the republicans are. Both parties are at fault. Greenspan is at fault. Biden who has been in congress longer than McCain is at fault.

    4/5 senators who have been in Congress the longest are Democrats, what change are they talking about. Sounds like McCain.

    Only people not supporting any party can see the light but with all this dribble that OBAMA and McCAIN puts out is worthless especially when neither of them would really effect the economy. People really need to look up the Commander and Chief does.

    September 16, 2008 04:26 pm at 4:26 pm |
  2. Sarah

    This is really a serious matter...
    I know that I will pay more taxes under Obama as compared to Bush or McCain. However, the choice now is between saving America or allowing it to collapse forever

    We have no choice...Either Obama or goodbye America...
    We will become a third Wold country

    September 16, 2008 04:26 pm at 4:26 pm |
  3. Mario fl

    I believe you. This man McCain is getting senile, say anything over lies and lies with the pit-bull with lipstick, what a pair

    September 16, 2008 04:26 pm at 4:26 pm |
  4. Bruce

    McCain = Herbert Hoover.
    For those of who do not know who hoover was him....McCain is the 21st century version.

    September 16, 2008 04:26 pm at 4:26 pm |
  5. John

    Obama already did this to Hillary. Undermining the more qualified person that will be president.

    What's happened since?

    Hillary voters are incensed at Obama's scorched earth policy. They're holding back.

    It's amazing, the hubris that Obama has, to try and instill such an unhopeful message that will taint McCain's presidency.

    At Obama's going rate, he'll have the highest unfavorables ever if for some reason he is elected, to polarize so much of McCain's supporters.
    McCain-Palin 2008

    September 16, 2008 04:27 pm at 4:27 pm |
  6. MIKE chicago

    Those that say Obama doesnt offer specifics and details of his plan.. At least he has a clue of what is going on and he his proposing ideas to solve the problems...McShame has no clue nor does he any plan to solve anything. Forget about party politics and race...McCain said twice this year that the economy is strong and he always pick a good time to do so.

    September 16, 2008 04:27 pm at 4:27 pm |
  7. Capablanca

    I think people should stop listening to what Obama say and to see what he will do. His plan for more tax for business will make the economy worst. Common people, how dumb would you have to be?

    September 16, 2008 04:27 pm at 4:27 pm |
  8. Deb in Vegas

    Senators McCain and Obama:

    Stop the finger pointing...tell me how you're going to fix the economy. It's kind of a moot point to argue who's responsible. Seems like a lot of wasted energy. I, personally, don't give a rat's butt who's responsible. I just want to know what each of you are going to do to fix it so I can make an informed decision on November 4th.

    The same for every other issue out there on the table. I don't care who's responsible...just tell me what you're going to do.

    September 16, 2008 04:28 pm at 4:28 pm |
  9. Jennifer

    Obama tells the TRUTH! He is a man of God.

    September 16, 2008 04:28 pm at 4:28 pm |
  10. georgia independent

    Why does McCain continue to say that he is "going to make a difference" – where has he been for the last 26 #%#^ years?

    Where? Oh yeah, talking to his buddies with Keating... Good stuff McShame.

    September 16, 2008 04:28 pm at 4:28 pm |
  11. Roger

    Shades of Herbert Hoover!! McCain is talking the same talk Hoover did back in 1929 and we all know how that turned out! The only chance we have is with an Obama/Biden administration. McCain/Palin are more of the same old tired Republican crap we have endured the past 8 years and we certainly can't afford 4 more!!

    Obama for America!!

    September 16, 2008 04:28 pm at 4:28 pm |
  12. Irony

    Are you kidding? The Keating 5 did great things for us in the past! We need more of their kind of shady deals. I'm all for making only a very few profit off the backs of many.

    McCain will help us solve all our problems and he always tells the truth!

    I'm can play at opposite day politics today too!

    September 16, 2008 04:28 pm at 4:28 pm |
  13. jefflz

    McCain has launched the DoubleTalk Express and Sarah Palin is at the wheel of this bus. He said recently that he knows little of the economy and is on the record being against regulation of Wall St. before he was for it. Phil Gramm (Texas, Enron) a McCain financial advisor called Americans a bunch of whiners about the economy. McCain says he is bullish about the economy until the market crashed. McCain, whose family wealth is in excess of $100 Million has supported the combination of huge expenses for the Iraq War and tax cuts for the extremely wealthy that has helped to drive our economy into the dirt. He has supported Bush economic policies and rejection of Wall Street oversight for the past eight years. Palin can only repeat what McCain tells her to say about the economy and based on his actions, his claims of economic insight and reform are nothing but distortions and empty rhetoric.

    September 16, 2008 04:29 pm at 4:29 pm |
  14. david Armendale, SF, CA

    McLame tries to weasel out of parroting the Bush proclamation that the fundamentals of our economy strong by redefining those fundamentals as being the American worker. What a weak and ineffective mind at work!
    The fundamentals of the economy, as McCain himself has explained on past occasions, are such indicators as unemployment figures, real after-tax wages, inflation rates, consumer confidence, the stability of financial institutions, as well as budget and trade deficits.
    So when you get caught in another of your lies, John McCain, don't try hiding behind the American worker whom you've consistently voted against nearly the entirety of your stint in the senate.

    September 16, 2008 04:29 pm at 4:29 pm |
  15. Shannon WA ST

    Mccain is a joke!!! He and his sidekick are more of the same old washington that we are all sick to death of. Mccain voted agains every bill that would help the american people . He voted against regulating the market 18 months ago. Obama has been putting americans first..... Get a clue america.......

    September 16, 2008 04:30 pm at 4:30 pm |
  16. Laverne

    Tennessee and what exactly is McCain's plan, we all have been waiting to hear it and have not heard anything yet. Please enlighten us!

    September 16, 2008 04:30 pm at 4:30 pm |
  17. fella from Chicago

    Bring back the welfare queens. Let's make sure we destroy the incentives to get rich (remember the American dream?) Socialism at its finest. Vote Obama.

    September 16, 2008 04:30 pm at 4:30 pm |
  18. lol

    obama can't even handle his campaign finances. they are spending, spending, spending. he can't even budget his campaign, let alone help america's economy. gov. palin has experience, she balanced a budget, and has a surplus in alaska. mccain/palin 08!

    September 16, 2008 04:30 pm at 4:30 pm |
  19. PalinLiesTooMuch

    Wake up all uneducated Americans and try to understand what this nation is facing every thing is going to the wrong direction under the Bush admistration and Mccain is a contiuation of Bush he voted 90% of the time with Bush, and he said and I quote I do not know much about the econony and yeserday on of his surgate ceo of HP said Mccain and Palin are not qualified to run a company how in heck are they going to run the country if they are not qualified to run a comapany.

    September 16, 2008 04:30 pm at 4:30 pm |
  20. Angela

    We're all dumber for hearing the words that exit that sexist unexperienced senator's mouth. There has never been a more unqualififed candidate for president who's sole goal is stroke his ego at the expense of our children and our future.

    September 16, 2008 04:31 pm at 4:31 pm |
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