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. go vote

    News Flash:::

    Obama is going to raise taxes and he has Webbed Feet.

    I am sick of this crap! Vote early! I did... turn off the TV and go Vote.
    If we could capture the Hot air coming out of the McCain campaign.. could we consider that a New Energy Source?

    October 30, 2008 10:51 am at 10:51 am |
  2. don

    Listening to McSame speak in Ohio this morning it becomes so obvious he does not have a clue about the economy. All he wants to talk about is Obama. Once again he can fix that, just ask him.

    Fed up enought with the Bush regimes lies, you really want four more years of a Liar? Thats what a McSame vote promises.

    October 30, 2008 10:52 am at 10:52 am |
  3. AK

    Alice Brinkley:
    What kinda name is that, a stage name?
    Are u a stage dancer?
    Shot your pie hole. You know nothing of what troubles the American Economy. You are a fraud and very unintelligent!

    October 30, 2008 10:53 am at 10:53 am |
  4. Will the Real Maverick Please Stand Up?

    Alice Brinkley–how did you come up with such an perceptive comment? What do you have to base it on? Listening to McCain and his 'plans'? Wow...I'm sold!

    Obama/Biden '08

    October 30, 2008 10:53 am at 10:53 am |
  5. IowaMom

    Alice:

    That's right, pull your money from the system and send jobs overseas. THAT will help improve the economy.

    October 30, 2008 10:53 am at 10:53 am |
  6. IowaMom

    beyond the hype:

    I'm pretty sure everyone has seen those quotes by now. Did you actually read those books or are you just cutting and pasting the quotes you got from faux news?

    October 30, 2008 10:55 am at 10:55 am |
  7. Nimi from NY

    This is what Main Street knew all along. Wall Street just started to take notice.

    October 30, 2008 10:55 am at 10:55 am |
  8. No McCain-Palin

    Sorry McSame, you can campaign with Joe the Loser, it will not make any difference. Barack Obama Campaign with Bill Clinton yesterday in Florida, Why don't you campaign with George Bush? The GOP is loosing their Bearings.

    October 30, 2008 10:56 am at 10:56 am |
  9. 400 families own half the country

    and they are stealing the other half right now under your nose!

    lost your house, job, and/or savings lately?

    still dreaming of joining the 400 club one day at others' expense?

    enjoy your capitalism until your dream comes true!

    October 30, 2008 10:56 am at 10:56 am |
  10. Meh

    beyond the hype> If you're going to quote things, quote the whole quote, and quote it in CONTEXT.
    No more fear and smear!
    We're sick of it!

    October 30, 2008 10:56 am at 10:56 am |
  11. Stephen Logan

    Everybody cool out.....

    Barack Obama is going to be the next president of the United States of America. I personally think no matter what your political beliefs are that this is going to be a great step forward for the American people. Yesterday I saw kids in high school with "Obama is my homeboy" t-shirts on. How can anyone think that is not a great thing? The GOP has tried to paint Barack as a "celebrity" like that is a bad thing unfortunately celebrities mold our countries young minds much more than presidents do, isn't it about time we had a celebrity worth looking up to.

    October 30, 2008 10:57 am at 10:57 am |
  12. JJ

    This country is in shambles right now. Jobs being lost left and right. We need someone who is dedicated and ready to lead this great nation on the right path again. We can't afford 8 more years of the same "trickle down" policies any longer. We need someone who will look out for the people rather than big oil and big corporations.

    I pray that Obama gets elected. We need change and we need it in a hurry. McCain and Palin will just bring us more of the same 8 years.

    October 30, 2008 10:57 am at 10:57 am |
  13. darlenmarlen

    Do us all a favor Mc Cain, Drop out of the race and save the country the time, the money and the trouble ( and leave, by leaving the American people with whatever is worth to remember about John Mc Cain – Mc cain the POW – not the politician ; Picking Palin without a background check was the biggest mistake of your campaign, panicking during the financial crisis and wanting "suspend your campaign" didn't say much about your experience either). You've been tested my friend, and you have failed.
    Barack talks about the issues, Mc Cain acts like a kiddengarden child, looking for insulting epithets ( socialist, radical ), and tries to score points by punching below the belt because he can not conceive anyhting intelligent to say and make a point.
    Mc Cain you are desperately trying to stay afloat, here is your life vest. Concede in dignity before you loose in a mudslide.
    And do yourself the favor and separate yourself from the likes of Sarah Palin, and Joe the Plumber before election day.

    October 30, 2008 10:58 am at 10:58 am |
  14. Al Mellen

    Senator McCains reaction time was much better years ago than it is now,,,,,,,,however,,,,,,,he did get shot down in VietNam. He is much older now,,,,is reaction time is much slower. America cannot wait for him to be shot down again. Sorry Senator,,,,,,this will be your last mission.

    October 30, 2008 10:58 am at 10:58 am |
  15. Illinois Blue Dog

    Yeah, I'm gonna take my cues on who to vote for from an idiot/pea-sized brain/liar/tax-cheat like Joe the pseudo-plummer. Looks like someone in the McCain camp has been slipping some Wild Turkey into McCain's metamucil; why else would he be out campaigning with this buffoon?

    October 30, 2008 10:58 am at 10:58 am |
  16. FLORIDA for Obama

    "Students Egg Obama Poster at Ralley"

    yet MORE violence and rascism incited by the PALIN/McCain campaign and their RIGHT WING FANATIC FOLLOWERS.

    Don't they realize just how CHILDISH they look?

    October 30, 2008 10:59 am at 10:59 am |
  17. Billy

    CNN censored me and all I said was McCain wants to give Oil Companies millions in tax breaks. I guess that's too controversial on the McCain-Light News Network.

    October 30, 2008 10:59 am at 10:59 am |
  18. GIVE PEACE A CHANCE, VOTE A STRAIGHT DEMOCRATIC TICKET!

    Listening tnow o the whack job diva, she is really off the reservation today.

    She is really ramping up support for her 2012 run. The half-wit is all about social conservative values, abortion, blah blah blah!! Things no one give a rip about this election cycle.

    hehehe

    October 30, 2008 10:59 am at 10:59 am |
  19. az voter

    John McCain's pals Exxon Mobil Corp. set a quarterly profit record. The company said its third-quarter net profit was $14.83 billion,

    At the same time the gross domestic product fell at an annual rate of 0.3 percent in the same period.

    Sunny colored trickle down the back of your neck is what you are getting.

    Don't you just love Republican economics?

    October 30, 2008 10:59 am at 10:59 am |
  20. republicans hate america

    yeah everything but Exxon they had a surge in profits this last quarter and McCain will spread more wealth to them.

    October 30, 2008 11:00 am at 11:00 am |
  21. Joseph IRAQ WAR VET

    If you are a Republican then welcome to the Democratic party now. I will be your host and guide to your new found party. First thing is we sometimes have so many good candidates that we fight with each other like sibling rivalry, but we make nice in the end. Second we all hate the faux news channel, in fact we do two things every morning here at the party, we read the bible, and watch Faux news because we want to see what both sides are doing. We have pictures of the Kennedy's hanging on our walls, it is a sacralage to speak ill of any Kennedy. Finally we are all issued a Sean Hanity voodoo doll with a lighter, and large sewing needles.

    Welcome to the Party!

    October 30, 2008 11:00 am at 11:00 am |
  22. Election watcher

    Say, did you see Obama's infomercial last light? Great stuff-NOT!!!
    As if I need him to spend $5+ million to inform me that the economy is bad. On national TV, even.
    Thanks for delaying the World series to clear this up for us!
    Hope you got your money's worth on that one, Barry.
    "O"bama
    "O"=zero

    October 30, 2008 11:01 am at 11:01 am |
  23. Joe The Engineer

    anti-obama carnival? oh my god, there is so much hatred in this country, and you guys talk about exteremists in middle east and other nations? John Kerry was also way too liberal and ran for president in 2004 and no one did these kind of things by then, why now? and talking about free country and free speech? When i see conservatives who are far right and do such things, the more i feel Obama should win the election and shut all their as**s up.

    October 30, 2008 11:01 am at 11:01 am |
  24. Vincent, Great Lakes, Illinois

    Beyond hope

    You didn't even read the books, you got this information from a junk e-mail. I read both books and by posting lies, you prove yourself to be an idiot.

    Fact check baby, fact check if you don't believe me and are too stupid to check things out BEFORE posting.

    October 30, 2008 11:01 am at 11:01 am |
  25. Abe

    What does McBush knows about the economy? I thought he said "he doesn't know anything about the economy"??

    One more reason to turn the page over McCain and Bush's failed economy policies!

    October 30, 2008 11:01 am at 11:01 am |
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