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.

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Filed under: Candidate Barack Obama • John McCain
soundoff (201 Responses)
  1. alvino

    Maybe John McCain will explain his reason for giving a half million dollars to Rashid Khalidi. According to Sarah Palin, he is a spokesperson for the PLO.

    October 30, 2008 10:33 am at 10:33 am |
  2. MARY

    Well, Exxon Mobile just reported its earnings and WOW!!!!!!!! This is who McCain supports. How about Exxon spreading some of that wealth by giving away free gas or sending all Americans a nice stimulus check. No, they are probably planning their big party right now and figuring out the big bonus for their executives.

    October 30, 2008 10:33 am at 10:33 am |
  3. MsAnnette, Little Rock, AR

    I've already cast my vote for Obama/Biden and it felt soooooo good!!

    October 30, 2008 10:33 am at 10:33 am |
  4. CD

    Shame on that fat crazy lazy Lou Dobbs. Last night he kept screaming that our economy is not as bad to drum up support for McCain because he knows economic woes are hitting Americans to vote for Obama. Lou Dobs is no Independent he is a BIGOT.

    October 30, 2008 10:33 am at 10:33 am |
  5. Brian the Early Voter!!

    McCain is tanking the election to be vindicative for not getting the nomination.. so yes bring out Joe the Plumber while Exxon keeps raking it in... John Mc has done it again.. He has the Rogue Barracuda/Diva/Whack Job, Joe the Plumber, and the "Base".. Since I am not a part of his base should I think he cares for me... I can't wait till Nov. 5th....what a bunch!!

    October 30, 2008 10:34 am at 10:34 am |
  6. Brian B

    Do we really want a president that does not even know how to run a campaign. McCain had Virginia won until he announced he would cut government spending to all but essential programs, putting MILLIONS of northern Virginians out of work, destroying the economy for that part of the country. Go back and take a look at the polls. I want someone who carefully makes thoughtful decisions.

    October 30, 2008 10:34 am at 10:34 am |
  7. Koolaid for seniors

    Hello, America! It's getting late. Accept your fate You voted for Bush, twice!!! You got what you deserved! No way can you be so dumb as to elect the GOP ticket again, right?

    October 30, 2008 10:34 am at 10:34 am |
  8. KAREN - TIRED OF Palin / McCain and JOE WHOMEVER THE HELL HE IS...

    Yes we are ready for change.. Go get em Obama

    October 30, 2008 10:34 am at 10:34 am |
  9. Cecilia Gerdes

    Let me get this straight: CNN will GIVE "free" air/internet time to McCain/Palin/Joe the Plumber, but CNN won't sell one measley half-hour to Obama. What's wrong with this picture? McCain was GIVEN a free hour on the Larry King Show, and GAVE at least a half-hour to Sara Palin's energy spiel. To top this, CNN is GIVING exposure to "Joe the Plumber" on air and on the internet; this guy could easily be on McCain's payroll. Plus, how many times will we see the McCain interview on Thursday and Friday? I reiterate, What's wrong with this picture?

    October 30, 2008 10:35 am at 10:35 am |
  10. Karen

    Old man McSame, no new ideas, no plans other than to use untrue attacks even as the economy is worsening and the oil companies are making more money. screwing us taxpayers. Old man McSame will even allow these same oil companies to keep more money from us taxpayers while we slide deeper into the hole. Only Obama will ensure that these companies will not drain us dry, and that includes the gas in our vehicles and the food on our tables.

    October 30, 2008 10:35 am at 10:35 am |
  11. Sandra Kohler

    Senator McCain wants to give additional child credit to working americans. That credit wil also go to non working americans. It rewards you for having children not paying taxes. A tax credit reduces the amount of income tax a working american will pay on their tax return.

    October 30, 2008 10:35 am at 10:35 am |
  12. Bridgette-PA

    Get ready: John McSame is going to "SUSPEND" his campaign again. LOL. He's an idiot and deserves NO PRAISE! A true American Hero fights with dignity, not shame. Not this time, not ever again will the American people be bamboozled! We are too educated. Five more days.....five more days.....five more days......five more days........

    OBAMA/BIDEN -08!

    October 30, 2008 10:35 am at 10:35 am |
  13. Linda from Prescott AZ

    This seals the deal, we need a Democrat in the White HOuse!

    October 30, 2008 10:37 am at 10:37 am |
  14. Super D

    I'm so sick of hearing how "in touch" Obama is!

    Obama offers nothing but gigantic government and higher taxes!

    And that's "in touch?"....give me a break! These are solutions?

    The utter idea that the govt can take on added responsibility and control your daily lives like never before and yet millions of uniformed, likely uneducated people are lining up and begging for this to happen!

    And what's worse is this, you elect this Liberal pig, then you can't criticize anything because then you're a racist!

    Obama may you go down in dismal defeat and go back to slums of Chicago where you came from.

    CNN POST THIS!!

    October 30, 2008 10:37 am at 10:37 am |
  15. Farrell, Houston, Tx

    No one from the GOP is out campaigning for John McCain and it's McCain's own faught, should have never picked Palin. McCain's poor judgement in supporting Bush 95% of the time and poor judgement picking Palin is enough to make anybody run away from him. John McCain somehow along the way totally lost his bearings and it may be due to his age. The best thing for McCain to do is attempt to cleanup his image which has been severly damaged, but it appears he's not willing to do that so he just continues down the same destructive path and that's the same destructive path he would lead our country into.

    October 30, 2008 10:37 am at 10:37 am |
  16. tax payer

    mike – the problem is the Dems. aren't doing the math. They think that you can give 95% of the people a tax break when only 60% of the are actually paying any taxes at all.

    October 30, 2008 10:38 am at 10:38 am |
  17. KenB, MI

    I can put a chicken in every pot, I will pull a rabbit out of every hat, I can make a gray sky blue and I promise you my friends I will make plumbers out of all of you before I'm done.

    October 30, 2008 10:39 am at 10:39 am |
  18. Barbara NC- Drive more over the edge

    "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson

    Wonder who he would vote for... Obama???? NOT!!!!

    October 30, 2008 10:39 am at 10:39 am |
  19. S. Boatman

    Mccain Looks Angry In This Picture! His Finger Looks Like Its Ready To Push A Red Button!

    October 30, 2008 10:39 am at 10:39 am |
  20. j

    McCain's reaction to tough economic times is to have a fake plumber campaign with him. He's just going to follow the same failed policies that got us into this mess and hope for a different result. McCain's campaign is a joke.

    Obama supports working families. He'll do the right things to get this country back on track. Support Obama. GET OUT AND VOTE!

    October 30, 2008 10:39 am at 10:39 am |
  21. Lynda from Texas

    McCain has NO plan for the economy and how to turn it around – if he did – he has had more than ample time to present it and to gain the support of the millions of Americans who are facing severe financial hardship if not financial collapse as a result of DEREGULATION, OUTRAGEOUS SPENDING BY THE REPUBLICANS and the wrong war.

    We truly need a purge and a new beginning – as an independent who is actually conservative in economic viewpoint – I believe we need to take a real turn to what has turned out to be 8 years of spending, taxing the middle income and giving grand and mega sized tax cuts to the rich and large companies such as Exxon/Mobil.

    OBAMA and DEMOCRATS 2008

    October 30, 2008 10:41 am at 10:41 am |
  22. couldn't see it coming

    Wow, they're reacting to the economy...
    Of course, something must be broken...maybe it was the bailout?

    Or maybe now they'll give bailouts to the car-makers.
    Now that there is one HUGE airline (NWA+delta) they'll be needing a bailout.

    Go on keep promising to spend money when there isn't any...it worked so well for all of the homeowners in foreclosure...Who's going to bailout America when the bill comes due?

    Vote BOB BARR, Libertarian for no bailouts, smaller government. Stop spending our future.

    October 30, 2008 10:42 am at 10:42 am |
  23. LS, Austin, Texas

    Voted for the 'Smart Team' this morning.

    What a great feeling voting for the Obama/Biden ticket.

    October 30, 2008 10:42 am at 10:42 am |
  24. FLORIDA for Obama

    LIAR LIAR LIAR......LIAR LIAR LIAR.......

    IF McCain 'knows' EVERYTHING why hasn't he FIXED IT ALREADY?

    This guy is a JOKE.

    October 30, 2008 10:42 am at 10:42 am |
  25. couldn't see it coming

    Wow, they're reacting to the economy...
    Of course, something must be broken...maybe it was the bailout?

    Or maybe now they'll give bailouts to the car-makers.
    Now that there is one HUGE airline (NWA+delta) they'll be needing a bailout.

    Go on keep promising to spend money when there isn't any...it worked so well for all of the homeowners in foreclosure...Who's going to bailout America when the bill comes due?

    Vote BOB BARR, Libertarian for no bailouts, smaller government. Stop spending our future...

    October 30, 2008 10:42 am at 10:42 am |
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