October 30th, 2008
09:05 AM ET
14 years ago

McCain, Obama react to tough economic news

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/10/20/art.split.cnn.jpg caption=" The candidates reacted this morning to tough news about the economy."]
(CNN) - Both presidential campaigns reacted Thursday morning to news the nation's economy slammed into reverse in the third quarter and suffered the biggest decline in seven years.

The gross domestic product, the broadest measure of the nation's economy, fell at an annual rate of 0.3 percent in the period, according to a government report Thursday. That compared with a 2.8 percent growth rate in the second quarter, when economic stimulus checks and strong exports resulted in solid growth that vanished in the latest reading.

Full story


Filed under: Candidate Barack Obama • John McCain
soundoff (201 Responses)
  1. Carrie Goodeagle Hayden, Idaho

    McCain, what a joke. CNN why haven't you mentioned McCain's connection.

    The International Republican Institute, under McCain's leadership in the 1990s, donated hundreds of thousands of dollars to a Palestinian research organization that Khalidi helped found.

    October 30, 2008 10:19 am at 10:19 am |
  2. Barbara - 65 yr old white female in NC

    McCain doesn't have a clue. He's lived a privileged life for 72 years.

    Obama knows what the average person is going through. He's been there many times in his life.

    I voted early for the pair that will protect our Constitution.

    Obama/Biden '08

    October 30, 2008 10:19 am at 10:19 am |
  3. ONLY 5 MORE DAYS IN WHICH WE HAVE TO LISTEN TO MOOSE FLATULENCE FROM THE NEWLY CROWNED 2008 MISS MOOSE ANAL SPHINCTER!

    I am absolutely breathless with anticipation for McCrypt's pearls of wisdom, especially after he confers with Joe the plumber!

    October 30, 2008 10:19 am at 10:19 am |
  4. Joe the Voter

    Thank you Bush/McCain for a stellar job managing our country.

    October 30, 2008 10:20 am at 10:20 am |
  5. Hockey Mom for Obama!

    Can McCain please get his talking points in order before he just starts talking nonsense. Tell him to stop and think about the words that are about to come out of his mouth. He confuses me when he speaks. I think he is a little senial at times.

    October 30, 2008 10:20 am at 10:20 am |
  6. Vinnie

    Duh! It's time to nationalize the oil in this country.

    October 30, 2008 10:21 am at 10:21 am |
  7. Ian

    If you are interested in the real reason for our economic troubles, search for The Creature From Jeckyll Island.

    October 30, 2008 10:22 am at 10:22 am |
  8. JD in Moraga, CA

    It's funny that McCain's comment does nothing to distance him from the "trickle down" nonsense of the current President (which he supports, and has supported for 90% of his voting record over the last 8 years). Rather, he simply continues to mis-characterize the policy positions of the Illinois Senator.

    "Corporations have been enthroned .... An era of corruption in high places will follow and the money power will endeavor to prolong its reign by working on the prejudices of the people... until wealth is aggregated in a few hands ... and the Republic is destroyed."

    – Abraham Lincoln

    October 30, 2008 10:22 am at 10:22 am |
  9. NoMcSame

    Obama campained with President Clinton.
    McCain to campain with poor Joe the Unlicenced Plumber.

    October 30, 2008 10:22 am at 10:22 am |
  10. Shya

    What is John McCain going to do now? I wish he would tell the American People what he will do except Joe the Plumber and Obama. They are not the key issues here.

    October 30, 2008 10:22 am at 10:22 am |
  11. AJ

    I find the thought of either of these men attempting to lead us out of this mess to be nauseating. We'd better be prepared for a really tough time.

    October 30, 2008 10:23 am at 10:23 am |
  12. Frank G

    We need overwhelming Democratic ticket victories at all levels to send a unified message to all America (and the Republicans in particular) that bombastic messages of hate, distortions and lies will no longer be accepted in political campaigns.
    Maybe, then in future, we can have all contestants from all parties focusing upon substantive issues that affect our lives.
    IF WE VOTE LOUD ENOUGH MAYBE WE WILL BE HEARD.THE BEST WAY TO SHUT DOWN THE GOP TACTICS IS TO MAKE SURE YOU AND EVERYONE YOU KNOW VOTES 100% DEMOCRATIC. GET OUT THE VOTE; TAKE NOTHING FOR GRANTED; IRRESPECTIVE OF THE POLLS.

    October 30, 2008 10:23 am at 10:23 am |
  13. jenny

    I guess John McCain will be calling in Joe the doctor and joe the funeral guy shortly because George Bush just called in joe the MOVERS.

    October 30, 2008 10:23 am at 10:23 am |
  14. Russell

    8 MORE YEARS! 8 MORE YEARS!

    CHANGE BAD! MCSAME GOOD!

    October 30, 2008 10:23 am at 10:23 am |
  15. W Spivey Merritt Island, FL

    John McCain seems to have all the answers. He should go back to the Senate and fix it like everything else he has screwed up.

    October 30, 2008 10:24 am at 10:24 am |
  16. Candy West Virginia

    Has anyone, anywhere heard what mccain's policies are?? Well besides giving tax breaks to the rich that is.
    mccain/palin = clueless patholgoical liars!

    October 30, 2008 10:25 am at 10:25 am |
  17. Billy

    McCain's reaction to EXXON record profits is: Give them millions more in tax breaks!

    October 30, 2008 10:25 am at 10:25 am |
  18. Praetorian

    Depression...what depression?
    All economic indicators are fine, the government has chipped in your future earnings to fix everything, it's smooth sailing at some "indescribable point" in the future.

    Isn't it time we gave another party a chance to screw things up.

    October 30, 2008 10:25 am at 10:25 am |
  19. Joe from Mahwah, NJ

    Record 3rq quarter profit for Exxon, though. Looks bad for McCain and all the more reason for Obama to halt those tax cuts to the oil companies.

    October 30, 2008 10:26 am at 10:26 am |
  20. Shila

    We need change and not another 4 years of George Bush, BUT if everyone think McCain the crook is better then hey so be it people.

    October 30, 2008 10:27 am at 10:27 am |
  21. AmericadowntheDrainMcCain

    Vote Joe the Plumber.. He's sharp on toilet Affairs. He's the future Washroom Secretary of State.
    Exxon posted the largest profits ever for an American Company in this quarter. While that's great, ask John McCain why they need a tax break and people who posted a loss are being overlooked? Answer: Their lobbyists requested it.
    This is a tough economic period for most of America yet McCain's proposals only benefit those on Easy Street. Who's lobbying for Americans? Where's your voice in Washington?

    Barack Obama/ Joe Biden

    October 30, 2008 10:27 am at 10:27 am |
  22. Steve A. , New Braunfels , Texas

    There it is ! If you liked Bush you will love McCain !!!! dun voted for Obama, you betcha !!

    October 30, 2008 10:27 am at 10:27 am |
  23. PA Voter

    McCain said he would lean on his VP for help on issues such as economics. Now that we know who his VP is, I can't trust that ticket to help our country in this crisis.

    October 30, 2008 10:28 am at 10:28 am |
  24. Dawn

    Good send more stimulas checks to pay for bills and Bankruptcy trustees... looks like the big compainies will get a bigger piece if the pie, we want jobs America... I am appaulled that Bush allowed this happened when spending 10 Billion dollars a month in a war, that was totally illegal.. Give us that money so we could grow...

    Obama/Biden08/12

    October 30, 2008 10:28 am at 10:28 am |
  25. Mimi

    That's one of McCain's problem..he's so busy talking about what Obama's policies are and we never hear him say anything except "I know how to fix it"...Hhhhhhooooowww man, hhhhhhoooowwww?????

    October 30, 2008 10:28 am at 10:28 am |
1 2 3 4 5 6 7 8 9