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. Arin

    McCain is jinx. He jinxed the Rays, by calling them the Devil-Rays, he jinxed the Republican party, he jinxed the country.

    October 30, 2008 11:18 am at 11:18 am |
  2. Jack Silver

    I read the books "Beyond the Hype," and out of respect for CNN I'll simply say to you, you are a typical extreme right-wing manipulator of words and phrases. Instead of reffering to exactly what Obama was saying, or unabiasedly describe what he was explaining in regards to the "political winds" or the political stability of the region, you chicken pick a words or phrase and make it fit your "malicious" dark purposes. Typical "Carl Rove" republican metyhod of misrepresenting the "facts."

    October 30, 2008 11:19 am at 11:19 am |
  3. Joe Zarcone

    Joe the plumber and John McCain complain of socialism, Meanwhile McCain is using taxpayer dollars to finance his campaign. I guess its only socialism if the little guy gets a piece of pie!

    October 30, 2008 11:19 am at 11:19 am |
  4. DJ VA

    People keep saying spreading the wealth, well you need to take a look out how social security is done. They take money out of our income and give it to people 65 and over. If that is not spreading the wealth then I dont know what is. Look at the facts before you start to make a judgement over someone and thats why I am voting for Obama.

    October 30, 2008 11:19 am at 11:19 am |
  5. Tony, NC

    Tough economic news?? But it's only been two years of the Harry and Nancy show... You ain't seen anything yet.

    October 30, 2008 11:20 am at 11:20 am |
  6. Ryan - Detroit

    I'm voting for McCain.

    Here is why. I didn't get an adjustable arm mortgage. I have an education. I saved money for a rainy day. I own a company. I employ 12 individuals who are the world to me (and yes they do have health insurance). Anything the government touches turns to garbage. The government shouldn't touch my, or my employees money.

    Obama is for simple minded fools.
    McCain is a steady hand.

    October 30, 2008 11:20 am at 11:20 am |
  7. Paul in Dallas

    beyond the hype, you show that hate, ignorance, racism and anti-intellectualism knows no bounds. your hate leads you to write malicious falsehoods. just to scare people? i mean what's wrong with you? put on your white robes and cape so no one will know who you are. absolutely pathetic.

    October 30, 2008 11:20 am at 11:20 am |
  8. Joe Zarcone

    Taking government tax dollars to finance a campaign is socialism.

    October 30, 2008 11:20 am at 11:20 am |
  9. vw

    John McCain is really a man.

    OB is a simple and pure liar. I felt disgusting when I heard OB commended President Clinton last night in Florida rally. Did anybody heard OB said the same thing for President Clinton during democratic primary??? NO, NEVER, not even one single word......

    October 30, 2008 11:20 am at 11:20 am |
  10. Youtubby

    I want a Republican to tell me what McCain will be doing differently from Bush. WITHOUT MENTIONING OBAMA'S NAME. Sell McCain's policies without bashing his opponent. Please. I am waiting.....

    October 30, 2008 11:21 am at 11:21 am |
  11. John

    McCain is at a rally in defiance Ohio,
    That should read denial and despair over the economy He and Bush created.

    McCain the De-regulator gave the Bankers an inch and they took 34 trillion dollars and put us in this mess and the Republican voters want to give him more rope to hang the economy.

    Democrat's 08

    October 30, 2008 11:22 am at 11:22 am |

    To "Beyond the Hype"
    I notice you cut and paste this exact entry in every ticker. Get a life "Plant".

    October 30, 2008 11:22 am at 11:22 am |
  13. wwf

    Yes, McCain will respond. Joe the plummer! Non-licensed, tax owing, not quite telling the truth about his business individual, as a poster child for whatever, goes beyond belief. Hey, I wonder if anyone has reminded McCain or informed Palin about the money that John helped give to the so called Palistian terrioist. Thats right, I forgot that McCains memory is not what it used to be. How many more LIES and false accusations can those two come up with? Quite a few I am sure.

    October 30, 2008 11:22 am at 11:22 am |
  14. Barbara - 65 yr old white female in NC

    John 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 11:22 am at 11:22 am |
  15. Robin

    Well, at least Exxon made a 14.83 billion dollar record profit this year, so Bush & Cheney and all of their friends will have a nice retirement. Too bad for McCain & Palin, they were hoping to get on that gravy train ride next. To all of my republican friends, I know you love our country, please wake up, McCain/Palin will lie, cheat, steal do whatever they have to do to get at that money, they don't care who they have to destroy to get it, democrats are the only ones working for us.

    October 30, 2008 11:22 am at 11:22 am |
  16. KNIGHT-7579

    If Obama wins, then the obituary will read:

    The United States of America 1776 – 2008. Death due to self-inflicted mortal injury. May she rest in peace.

    October 30, 2008 11:23 am at 11:23 am |
  17. Eric G.


    And beyond the hype...while applaud that you at least are able to use the cut and paste function on your computer, you might want to actually check your source. You'll likely find its the RNC.

    No more hate filled politics. Send the message to the GOP that they will have to move back to the center and abandon their "Sarah Palins" and embrace something new. Something smarter and with the will of the people at its heart.

    Obama '08 by a Landslide

    October 30, 2008 11:23 am at 11:23 am |

    TO: Beyond The Hype

    ......and what's your point of your entry?........

    October 30, 2008 11:23 am at 11:23 am |
  19. MLH

    So glad that Senator McCain picked a VP candidate to whom he can turn for answers in these tough economic times.


    October 30, 2008 11:24 am at 11:24 am |

    When you vote, take your cell phone with you, to take a picture of screen with who you voted for!!!! Then, you have "proof" if machine magically changes your vote..Lets stop fraud, suppression of votes, dont let this election be STOLEN...
    Texas senior for OBAMA
    ( white one too :-))

    October 30, 2008 11:24 am at 11:24 am |
  21. David Goldman




    October 30, 2008 11:24 am at 11:24 am |
  22. Tulsa

    McCain sounds like a little baby when he keeps bring up that Obama broke his promise about campaign financing.......Obama saw the kind of campaign he wanted to run and how much it would take to do it and he opted to take Public Financing........that's called smart thinking........he knew from the past that the Republicans have always had the more money and Democrats couldn't compete with their advertising...........this is the kind of Smart Thinker I want for President of the United States......

    October 30, 2008 11:25 am at 11:25 am |
  23. Vince

    Stooly: I have new that may shock you but the current American tax system is redistributive. I guess all the current politicians, Republicans too, are not considered socialists.

    What would you rather earn:

    $50K/year taxed at 20%


    $250K/year taxed at 35%

    There is still plenty of incentive to want to earn more. Besides, your satisfaction in life shouldn't solely be tied to earning money. You should want to contribute to the good of society as well. I would not be proud raping the land of minerals and flooding the same land with chemical if that is how I made my money. There needs to be more thought before people like you say what you do.

    October 30, 2008 11:26 am at 11:26 am |
  24. Patience

    Beyond the hype:

    I say to you, ignorance is your greatest ailment. Why, only and ignorant fool would take quotes from an entire book and just a man by it. READ, READ, READ. Be curious, don't beleive everything that those neocons hand you (like these quotes). Go and actually read the books open mindedly. Please, post such things on tabloid cites and not CNN.

    October 30, 2008 11:26 am at 11:26 am |
  25. The Stallion & The Champ vs. The Old Mule and Winky Half-baked Alaska


    Your rant proves that you don't even know what real socialism is. Nice Spawn Insanity talking points though. Watch FAUX NEWS much? Next up communism, facism (That would be your beloved George W just for the record), naziism, dicatorship and every other bad image you can try to conjure up.

    October 30, 2008 11:27 am at 11:27 am |
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