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. Vic

    Early voting is the way to go.

    Registered Republican "voted" Obama/Biden 08

    October 13, 2008 05:53 pm at 5:53 pm |
  2. j. williams

    Bill Ayers–community organizer in Cleveland....Barry Obama-community organizer in Chicago...God forgive the dumbocrats....

    October 13, 2008 05:55 pm at 5:55 pm |
  3. Kelby from Houston, TX

    Cody from Texas,
    the numbers do add up. There is something you're missing. check your work and do the math problem again. Or are you one of those paid bloggers for McCain? Here's an idea, go to Barracks website...he is all of the fine details laid out there.

    TURN TEXAS BLUE (is that even possible?!?)

    THAT ONE '08

    October 13, 2008 05:55 pm at 5:55 pm |
  4. David

    I never thought that I would live to see the day when Americians would vote for a man whose middle name is HUSSEIN. Where have we gone?

    October 13, 2008 05:56 pm at 5:56 pm |
  5. linda from South Dakota

    now this is what a president should do ,, work for the people,, listen,, walk with them,,,, talk with them, not run and hide like mccain has done,, obama has always listened and worked with people,, and people are becomin mich aware of how mccain is messin up,,, and runnin and hiding along with palin who lies with him,,, mccain just brainwashes people withhis plans that he mostly steals from obama,,,, my vote still goes for OBAMA?BIDEN.08 and beyond

    October 13, 2008 05:56 pm at 5:56 pm |
  6. Nate- Minneapolis

    For all you McCain supporters our there bashing Obama's plan keep this in mind. It is GWB's extreme right policies that have lead to this. Ever hear of the saying "everything in moderation." Bush wanted the free market the do what it would- well there's a reason free market principles don't work. Greed. That's why there are labor laws, anti-trust laws and consumer protection laws. One way or another the market and the economy will find balance. Either step in and regulate it yourself, or you'll need to intervene with a $700 billion bailout, or even worse staffing bread and soup lines during a recession.

    You say it's the democrats that created programs so people could get houses they couldn't afford. Who pushed for that legislation- ahh yes- wealthy executives of big financial corporations- they knew it meant more business and more money for them. The problem wasn't in the law, it was in how the mortgage industry works- a complete lack of regulation and everyone is paid on commission- in other words greed runs wild. It wasn't the democrats who said, go ahead and approve loans with no income verification, or without detailed credit checks, or faulty appraisals. These are products of free market greed and deregulation that are allowed to exist in the system created by the wealthy executives- who only want to get wealthier.

    Trickle down economics don't work- it's just an excuse to give the wealthiest people more money. Trickle up economics does work. Corporate profits increased after the economic stimulus we got earlier. It isn't ideology that dictates what leaders should do when it comes to the economy- it's the situation. Right now the government needs to try to stimulate the economy and calm the economic storm. When this crisis abates the situation will dictate something else.

    October 13, 2008 05:57 pm at 5:57 pm |
  7. NJ

    Obama $3,000 tax credit, do you think companies that are already suffering laying people off, are going to hire more employees, because the $3k credit. What planet are you living in or what 3rd world nation are you from. Obama's plan is ridiculous. He's got you hoodwinked, he's pulling the rope-a-dope on you.....

    October 13, 2008 05:58 pm at 5:58 pm |
  8. Irene


    (AND what better way to start, than with American JOBS!)

    OBAMA / BIDEN 08

    October 13, 2008 05:58 pm at 5:58 pm |
  9. Dave

    Once again, Senator Obama offers real solutions, while Senator McCain flails around like an angry chicken.

    October 13, 2008 05:58 pm at 5:58 pm |
  10. Tracey

    Why isn't John McCain wearing a flag pin? Wasn't he the one who called Obama unpatriotic for not wearing his pin? I haven't seen John wear his pin in any of the debates or on the campaign trail. People, take notice of this! Mr., I love this country, I'll fight for this country! Mr. Maverick of this country is not showing his patriotism after scolding Obama for not wearing his. He is such a major hyprocrite and deserves to lose this election because he is not an honesty human man. He has no integrity and most importantly, is no Maverick in my eyes!

    October 13, 2008 05:58 pm at 5:58 pm |
  11. jason

    "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."

    people ... if you don't understand socialism, don't say anything about it. obama hardly is a socialist, no matter how much you take quotes out of context, or fail to see the larger picture ... but, i suppose we need not worry about substance or distinctions among various economic plans.

    October 13, 2008 06:00 pm at 6:00 pm |
  12. carol

    These are the issues America want to hear about and how the candidates plan to fix them......Sen Obama always explains what he will do and also that things are tough and it won't be easy.
    McCain is always saying " I know what to do...."I know how to fix it" but does he give any explantion .....NO....because the truth is he does not know what to do......he waffles on and nothing makes any sense!!!
    Sarah Palin on the other hand does know what to do......someone puts a new battery in and away she goes off on another rant and firing up the base with useless information.....but I suppose to them it's the answer they've been waiting to hear.
    The Republican base is so shallow and they take Sarah Palin's words as the Gospel according to McPalin testament.......the sad thing is they have forgotten one commandment "though shalt not lie", they must have thrown that one out.

    October 13, 2008 06:01 pm at 6:01 pm |
  13. mary ca

    Right , jobs baby jobs,

    October 13, 2008 06:02 pm at 6:02 pm |
  14. Catholic-mom-4-OBAMA

    That's a good question, Tracey. WHY ISN't MCCAIN wearing a lapel pin? Well, we know why, its the Republican hypocrisy again. So tired of it.




    October 13, 2008 06:03 pm at 6:03 pm |
  15. Cj

    Obama CHANGE..No one has better plans than me. I steal them all the time from Hillary and sometimes I ask Pelosi, Reid Franks for advise they tell me to steal them from anyone, just as long as you make it clear that we want socialism in this country. I am a Havard guy but I'm really a stupid lying con man. I'm Barack Obama and I approve this message.

    October 13, 2008 06:05 pm at 6:05 pm |
  16. jason

    "Obama $3,000 tax credit, do you think companies that are already suffering laying people off, are going to hire more employees, because the $3k credit. What planet are you living in or what 3rd world nation are you from. Obama's plan is ridiculous. He's got you hoodwinked, he's pulling the rope-a-dope on you….."

    a bit of a lesson: "necessary" means something is needed, but not always enough to do the job; "sufficient" means enough to do the job. maybe the $3000 isn't sufficient to do the job, but that doesn't mean its the wrong thing to do. you might notice that the credit is not the only part of his plan.

    also note that it's a $3000 tax credit per job. thus, more jobs, more tax credit.

    October 13, 2008 06:05 pm at 6:05 pm |
  17. tulsa

    Cody from Texas....
    You, "my friend", are an economic genius.

    Thinking like THAT is what got us here. Now go get that 6-pack and don't hit anybody on the way home.

    October 13, 2008 06:06 pm at 6:06 pm |
  18. Wise White Guy

    It would have no impact huh John. Um sorry but you have no idea what a good idea is or whether it will help or not. Remember the gas tax holiday which would have done nothing but cause lost jobs and our transportation budget to be decimated and our infrastructure along with it. How about your drill baby drill plan that will do nothing for our gas prices. Our crude is not even economically refinable here and that is why it is sold on the open market mostly to China and India. Maybe you should have helped us from still being dependent on oil all those years you EXPERIENCED in Washington instead of voting against alternative energy over and over and over. You put us in this situation and your policies are wrong. Obama has a plan that makes sense for us and has the vision to get something done for the right reason. Go home Johnny and take your 100% 2008 Bush voting record with you. You want him Arizona you can have him. Obama/Biden in my state.

    October 13, 2008 06:06 pm at 6:06 pm |
  19. NJ

    Tracey: At least he wears a soldier's bracelet and actually knows the soldier's name, unlike Obama who scrambled to remember his bracelet, which that soldier's family asked him not to wear anymore. At least John McCain salutes our flag and recites The Pledge of Allegiance. And guess what McCain actually fought for this Country, what has Obama done. Except BS the Country

    October 13, 2008 06:07 pm at 6:07 pm |
  20. Does Obama Palin Comparison?

    How does it feel to be an Oprah tool?

    October 13, 2008 06:07 pm at 6:07 pm |
  21. Tim in Seattle

    @David below: What in the world does the mans middle name have to do with anything? If you're basing your vote on that, please go crawl back into your shack and keep creating inbred's you ignorant rascist redneck....

    October 13, 2008 06:10 pm at 6:10 pm |
  22. Seanie

    I hope the people in Ohio wake up and see who is really fighting for them and it not John McCain and Sarah Palin. It is Senator Obama. He was talking about creating jobs; right there in Ohio. Ohioians needs to get off there high horse and see that is okay to vote for a black man as President of the United States of America and we will get the job done if they give him an equal chance just like they voted for Bush twice.

    October 13, 2008 06:11 pm at 6:11 pm |
  23. rys

    Sen. Obama...keep talking about the issues that matter most to americans!! let mccain focus on his so called plan this week because it will surely be something esle next week. i wonder how he comes up with these new & fresh ideas from week to week (maybe he writes them down & puts them in a hat, then pulls a new one out on sunday because the last one failed)...like when you pick names during christmas. and sarah either hasn't been reading the newspaper (most likely) or she is in serious denial...will somebody tell her that she WAS found guilty of abusing her powers!!!

    October 13, 2008 06:11 pm at 6:11 pm |
  24. scoot

    First I don t get the early vote . Vote day is vote day if your not out of country you are casting a illeagle vote as far as Iam conmcerned. I was from a caucuss state so I had to make it between 6-730 to vote and was unable and had no early vote during primary that is a big reason why Hillary lost the primaries. But I did see Michelle today in MN and frankly she said about as much as BO did when I saw him and that was nothing just words like oconly is bad people are losing jobs. hip hip harrah vote for me Iam the man. never How he is doing these things. I must also add she is alot uglier in person.

    October 13, 2008 06:12 pm at 6:12 pm |
  25. Susan from Scotts Valley, CA

    While McCain Palin keep talking about how inexperienced Obama is, Obama keeps his cool (McCain Not) and comes up with solutions that make sense (McCain not so much).

    October 13, 2008 06:13 pm at 6:13 pm |
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