October 13th, 2008
02:45 PM ET
14 years ago

In Ohio, Obama talks jobs, multi-billion dollar economic plan

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/10/13/obama1.jpg caption=" Obama offered specifics on his economic plan this afternoon."]
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.

Filed under: Candidate Barack Obama
soundoff (160 Responses)
  1. Janet Bertinot

    I think CNN has reduced its coverage of Obama's campaign significantly in the last 2 weeks. As his polls climb, his coverage is dropping on CNN.
    Is he no longer newsworthy for Wolf and the team?
    Or, are McCain and ever unpredictable Sarah Palin worth more ratings?
    Today, rather than actually showing Senator Obama's speech with his job plan, I got to hear yet another team of "political experts" ram on about McCain's campaign – while a video feed from Senator Obama's speech ran – silently – in the background like some kind of screen saver
    MSNBC and even FOX News carried the speech – but not CNN.
    Perhaps CNN should change to having more candidate statements – from both sides, and dump about 80% of thier pundits – that would make them the top political team in reality..

    October 13, 2008 06:54 pm at 6:54 pm |
  2. Why won't Seattle fall in the Ocean!

    I can't wait to see all of the job creation resulting from a Nobama-Biden win. After they've increased spending by a Trillion or two, Nationalized Health Care, and put small business out of business...ought to be solid.

    October 13, 2008 06:54 pm at 6:54 pm |
  3. ACORN

    Obama Supporters, Good News! We've just registered another 10,000 fraudulent voters.

    October 13, 2008 06:56 pm at 6:56 pm |
  4. KM in OHIO

    I learned about this rally at the last minute, and dropped what I was doing to go see Barack again. This is the type of patriotic energy this man brings to the table.

    Someone should tell McCain that it is possible to get ahead in the polls by not lying and causing hatred and racism to surface.

    I hope the last two weeks have reduced the number of undecideds and increased votes for President Obama!


    October 13, 2008 06:56 pm at 6:56 pm |
  5. Blue is my favourite colour

    For all the naysayers of this plan, I say, at least he has a plan. It will take some redistribution to make things right for creating jobs, and the money in the gov't doesn't grow on trees. With carefull spending cuts, and tax breaks applied where they are needed, there is no reason this plan can work, but it won't happen overnight.

    McCain and his flunkies are starting in on it because McCain didn't come up with it first. With economic advisers like Fiorini and Graham, McCain will have a tough time coming up with alternatives. If I've learned anything from Obama, it is that he does not take economics lightly, and his economic strategy was carefully planned by some of the best economic minds in the US right now. Kudos to him for trying, and considering the daunting job that he will have when he likely takes office, I'd rather hear him talk like this than that pinhead McCain any day. Obama at least knows that there will be sacrifices, and he also understands to tell us that sometimes you have to take a step back for a brief period in order to continue forward progression later.
    A true leader–I'll be voting for the first time in my life for Obama/Biden.

    October 13, 2008 06:56 pm at 6:56 pm |
  6. Zion

    I am praying for Obama to be a leader that all Americans can depend on.

    October 13, 2008 06:57 pm at 6:57 pm |
  7. henrietta

    jobs is what america needs, go! obama/biden

    October 13, 2008 07:01 pm at 7:01 pm |
  8. cecil

    J. O. B. S


    October 13, 2008 07:07 pm at 7:07 pm |
  9. cecil

    All Your Haters, Can See The Forest For The trees!

    Obama/Biden 08


    McCain/Palin 08

    October 13, 2008 07:12 pm at 7:12 pm |
  10. Speider

    I don't care if he can fix the economy or bring unemployment down or even bring peace to the world; I wanted Hillary and he stole the election and everyone hates her for being a woman and I'm going to vote for McCain because I want Hillary and she will love me and give me more of my medication.

    Why am I allowed to be out in normal society?

    October 13, 2008 07:13 pm at 7:13 pm |
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