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POINTING FINGERS
Obama, McCain wrangle over massive economic crisis

Republican urges mortgage shield

By Charles Babington
Associated Press

NASHVILLE, TENN.: Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for a sweeping $300 billion program to shield homeowners from mortgage foreclosure.

''It's my proposal. It's not Sen. Obama's proposal, it's not President Bush's proposal,'' McCain said in the debate that he hoped could revive his fortunes in a presidential race trending toward his rival.

In one pointed confrontation on foreign policy, Obama bluntly challenged McCain's steadiness. ''This is a guy who sang bomb, bomb, bomb Iran, who called for the annihilation of North Korea — that I don't think is an example of speaking softly.''

That came after McCain accused him of foolishly threatening to invade Pakistan and said, ''I'm not going to telegraph my punches, which is what Sen. Obama did.''

The debate was the second of three between the two major party rivals, and the only one to feature a format in which voters seated a few feet away posed questions to the candidates.

They were polite, but the strain of the campaign showed. At one point, McCain referred to Obama as ''that one,'' rather than speaking his name.

''It's good to be with you at a town hall meeting,'' McCain jabbed at his rival, who has spurned the Republican's calls for numerous such joint appearances across the fall campaign.

They debated on a stage at Belmont University four weeks before Election Day in a race that has lately favored Obama, both in national polls and in surveys in pivotal battleground states.

Not surprisingly, many of the questions dealt with an economy in trouble.

Obama said the current crisis was the ''final verdict on the failed economic policies of the last eight years'' that President Bush pursued and were ''supported by Sen. McCain.''

He contended that Bush, McCain and others had favored deregulation of the financial industry, predicting that would ''let markets run wild and prosperity would rain down on all of us. It didn't happen.''

McCain's pledge to have the government help individual homeowners avoid foreclosure went beyond the details of the bailout that recently cleared Congress. The legislation allows but does not require Treasury to purchase mortgages directly. Obama has said previously that idea should be studied, and his campaign contended McCain's proposal was not a new one.

McCain's campaign issued a written statement that said the $300 billion cost of his initiative would be paid out of the $700 billion approved late last week.

''I would order the secretary of the Treasury to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those homes, at the diminished value of those homes, and let people be able to make those payments and stay in their homes,'' he said.

''Is it expensive? Yes. But we all know, my friends, until we stabilize home values in America, we're never going to start turning around and creating jobs and fixing our economy, and we've got to give some trust and confidence back to America.''

McCain also said it was important to reform the giant benefit programs such as Medicare, Medicaid and Social Security.

The two men also competed to demonstrate their qualifications as reformers at a time voters are clamoring for change.

McCain accused Obama of being the Senate's second-highest recipient of donations from individuals at Fannie Mae and Freddie Mac, the two now-disgraced mortgage industry giants.

''There were some of us who stood up against it,'' McCain said of the lead-up to the financial crisis. ''There were others who took a hike.''

Obama shot back that McCain's campaign manager, Rick Davis, has a stake in a Washington lobbying firm that received thousands of dollars a month from Freddie Mac until recently.

Addressing the audience, he said: ''You're not interested in politicians pointing fingers. What you're interested in is trying to figure out, how is this going to impact you.''

But that didn't stop the two men from criticizing one another repeatedly as the topics turned to energy, spending, taxes and health care.

Obama said McCain was going to require taxes on the health benefits workers receive from their employers at the same time his plan would wipe out the ability of states to enforce their own regulations to require tests such as mammograms.

McCain countered that his rival's plan ''will fine you'' if parents fail to obtain coverage for their children but hasn't said what the fine would be.

Obama said McCain ''voted against the expansion'' of the children's health-care program the government runs.

The two men prefer dramatically different approaches to easing the problem of millions of uninsured Americans. McCain favors a $5,000 tax credit that he says would allow families to find and afford their own health care.

Obama wants to build on the current system, in which millions receive coverage through the workplace, with government funding to help uninsured families obtain coverage.

NASHVILLE, TENN.: Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for a sweeping $300 billion program to shield homeowners from mortgage foreclosure.

Get the full article here.


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OldManGrump
Tallmadge, OH

Posted 07:09 AM, 10/08/2008

More of the same from both candidates, but Obama has a better plan spelled out in more details especially on the economy. Obama clearly won this one. To John McCain, "Bomb Bomb Bomb Iran" doesn't play any more and your reduced mortgage housing plan is dead on arrival. Obama will be president in January 2009.


A Voice
Akron, , OH

Posted 07:45 AM, 10/08/2008

I will vote of the one without a law degree !

Any stories about lawyers around?


overthetop

Posted 07:46 AM, 10/08/2008

It is about time for Ohio to move to the Democratic side because the Republicans have all ready led we the people over the "Bridge To Nowhere"! It is time for OBAMA to bring us HOME!!!! !!!!!!!OHIO FOR OBAMA!!!!!!!


notohp2002

Posted 07:52 AM, 10/08/2008

I think the Presidential debates are the deciding factors for votes. The Biden Palin thing was just a mute side show.

The two big debates end up in a Big Tie. Others think differently, but they are slanted people. I try to think and live in a real world, not a slanted world.

The problem with both cnadidates is all the promises. But how do they do all those things with a faultering economy. They both were not very convincing.

Which leads me to believe, the crucial factor on voting day will be how many people retaliate by voting third party.


airmon
akron, oh

Posted 07:54 AM, 10/08/2008

the mortgage plan should be illegal, as spelled out last night. how can you take public money and benefit individual citizens? say grump bought a house at 100k and it's now worth 60k and i bought a house at 100k and it's gone up to 120k. why should my tax money go to pay off grump's bad choice in housing? even if it's not his fault that the neighborhood went down, it's still my taxes going to pay for his individual bad luck. i believe that's unconstitutional at the very least, if not illegal.


Dell2

Posted 08:44 AM, 10/08/2008

McCain is an absolute pudknucker! He is so arrogant and disrespectful as his running mate Painlin! To refer to Senator Obama and "THAT ONE" was a piece of work! McCain comes off as an old school run of mill racist person. I don't care if he has a child who is of color. That doesn't mean you can not be a racist.


Greed Is Killing America
Bizarrebertucky, OH

Posted 08:47 AM, 10/08/2008

Both candidates stink, but I would have to say that McCain stinks the worst. At any rate,it will take the next several Presidents to undo the damage that the last stinker has created,and if we end up with another one like him, we can just kiss America goodbye.


TABBY

Posted 09:07 AM, 10/08/2008

when will people realize that the candidates can promise the world but unless they get congress to completely go along with all they want to CHANGE it will never happen anyway,the only reason I am going to the poles this year is because of the stinking mayor's great plan to give away our sewers


Erin

Posted 09:37 AM, 10/08/2008

Take the time to learn about the politicians voting records.

John McCain Voting Record -
http://www.votesmart.org/voting_category.php?can_id=53270

Barack Obama Voting Record -
http://www.votesmart.org/voting_category.php?can_id=9490

Cut through all of the BS that is being falsely promoted by both parties by visiting and boning up on the presidential candidates at FactCheck.org -

It is a real eye opener!
http://www.factcheck.org/


Erin

Posted 09:49 AM, 10/08/2008

With all due respect, Marianne, why is it so bad
to have someone educated as President this time?

The "Joe-six packs" of the country are fine, I get wanting something to relate to; Bush was voted the guy eveyone "would prefer to have a beer with". uhhh.. how's that going for everyone?

There's nothing "soft" about working hard and getting a degree ..law degree or whatever it is.



Erin

Posted 10:03 AM, 10/08/2008

With all due respect, Marianne, what is wrong with having someone scholastically educated as President this time?

I get wanting to have something like "Joe Six Pack" to relate to.. Bush was actually voted the one people would "prefer to have a beer with" -- How's that going for everyone?

There's nothing "soft" about working hard and earning a degree.. law or any degree


eugene
The Great City in, OH

Posted 10:15 AM, 10/08/2008

.


william

Posted 10:27 AM, 10/08/2008

McSame sort of reminds me of when we had to tell my grandpa that he should no longer be driving. It was sad.




Posted 10:28 AM, 10/08/2008

McSame sort of reminds me of when we had to tell my grandpa that he should no longer be driving. It was sad.


In my opinion
Akron, OH

Posted 11:15 AM, 10/08/2008

Sam, you seem confused, dimentia, stories mixed up, talking about wrong candidate perhaps and from the looks of your spelling you should be (indited ha! ha!)education of any degree would be a plus for you. John McCain's campaign manager and Freddie Mac essentially had what amounts to a secret half a million dollar lay-a-way plan. For almost three years and as of late, Freddie Mac made secret, monthly payments of $15,000 to Rick Davis's firm, apparently in exchange for providing special access to a future McCain White House (which won't be happening). If McCain knew about this, his presidential campaign should be in serious trouble (and it is). If he didn't know about it, he ought to fire Rick Davis, but he did know and Rick Davis is still the man.
OBAMA ROCKS!!!


SanDiegoJoe
San Diego, CA

Posted 11:16 AM, 10/08/2008

Sam, The McCain-Palin ticket is typical of the republicans. They run an "empty vessel" for president and this year decided to double up on stupidity by running Sarah Palin as vice president. The woman couldn't answer even the simplest of questions from Katie Couric. To put her in position to possibly be one heartbeat away from the presidency was totally irresponsible. Why would you not want the brightest and most articulate to lead us? That choice clearly leaves out McCain-Palin.


CWeimer

Posted 11:17 AM, 10/08/2008

I learn little from these so-called "debates", which are a regurgitation of stump speech lines. One thing I learned last night, though: John McCain is simply too old to be President. I still don't know for whom I'm going to vote (I am kind of leaning toward McKinney and the Green Party) but it won't be McCain-Palin. "Sam" who posted above is a good example of the kind of people that I consider the typical thoughtful McCain backer.


In my opinion
Akron, OH

Posted 11:18 AM, 10/08/2008

Had a great rebuttal for Sam but the ABJ, as usual, is being prejudiced in whose comments get posted.


airmon
akron, oh

Posted 11:33 AM, 10/08/2008

capital s Sam is a moron.

a) clinton didn't rape anyone. b) it's spelled indicted. c) none of these candidates are up for the communist flag. (note, communist, not socialist. there's a bit of a difference)

lower case s sam


CHAOS
Akron, OH

Posted 11:44 AM, 10/08/2008

I find it interesting that Obama's campaing slogan is the same slogan Raila Odinga used. Watch this video. It's scary! http://www.hcsfjm.com


CHAOS
Akron, OH

Posted 11:45 AM, 10/08/2008

I also think it's a shame that these two are the best our country could come up with? They both suck. They should allow other people in on the debates. I'm sick of both of them.


The Reverend
Kent, Oh

Posted 11:56 AM, 10/08/2008

Older Than Dirt started out the comment thread correctly.

I'm almost 60 years old and Obama is the absolute best potential leader America has seen during that entire time.....and that includes Kennedy.

Save the nation....vote Obama.


Not Brainwashed by the Media
Ravenna, OH

Posted 12:14 PM, 10/08/2008

Bottom line is they are both politician and will say whatever gets them elected.
3 out of the 4 are in part responsible for the mess we are in even though Obamination acts like he isn't. S. Palin is the closest thing to Main Street America. I am voting for the candidate who won't raise my taxes and that is McCain. As far as balancing the budget, anyone can gut the miitary, robbed Social Security and pass the largest tax increase in US history like Clinton did.
If the liberal party would have been in office and had to deal with 911, Katrina, the housing crisis, creating the Department of Homeland Security, they would have a deficit as well.


IndependentMom
Akron, OH

Posted 12:17 PM, 10/08/2008

ACORN, Obama's favorite job experience:
LAS VEGAS (AP) — Nevada authorities seized records Tuesday from a group they accused of submitting fraudulent voter-registration forms — including for the starting lineup of the Dallas Cowboys.

"Tony Romo is not registered to vote in the state of Nevada, and anybody trying to pose as Terrell Owens won't be able to cast a ballot on Nov. 4," said Secretary of State Ross Miller, referring to star players on the pro football team.

State authorities raided the headquarters of the Association of Community Organizations for Reform Now, a group that works to register low-income people. See full story . . .
http://ap.google.com/article/ALeqM5hvb0LfZQ5mY-X8PYSvYxTe3QGgdgD93LVDS80


Medina Reader

Posted 12:24 PM, 10/08/2008

I turned the debate off mid-way. This was no debate. It was a farce. Since when does a moderator give their own opinion in a debate? Tom Brokaw's personal disdain was thinly veiled. My wife asked what other country we could move to. American politics is causing irrepairable damage to our country.


Joshua

Posted 12:27 PM, 10/08/2008

McCain Economic policy is IDENTICAL to Bush's policy. He Voted with Bush over 90% of the time.

McCain has been in Washington for nearly THREE decades fighting FOR Deregulation. Look at the mess that has gotten us.

McCain-- Bad for Jobs, Bad for the Economy, End of Story.


jenkins
Hudson, Oh

Posted 12:37 PM, 10/08/2008

D. needs to state the whole story-

ACORN themselves turned over fraudulent, suspicious voter registration forms such as the Tony Romo, ect. ones to the State Authorities (Secretary of State).

This is just another typical Republican distraction stunt.

Quote from ACORN officials-
"Today's raid by the Secretary of State's Office is a stunt that serves no useful purpose other than discredit our work registering Nevadans and distracting us from the important work ahead of getting every eligible voter to the polls."


CWeimer

Posted 01:17 PM, 10/08/2008

Craig: Your opinion is your opinion, but if you present it as "facts", you should know that you are misinformed. According to factcheck.org, the "largest tax increase in US History" was signed by Ronald Reagan in 1982. Ouch.


airmon
akron, oh

Posted 01:21 PM, 10/08/2008

so craig, you make a ton of money, huh? enjoy it while it lasts, as mccain and the fiscally irresponsible republicans will have you bankrupted too.


bsmith0520

Posted 04:34 PM, 10/08/2008

McCain lost alot of respect from both parties last night!! ( we seen the true side of him - the self centered inconsiderate "person") Get OBAMA in there and lets see improvements!!!


Loren Eberly
Orrville, Oh

Posted 05:17 PM, 10/08/2008

Demanding every corporation, farmer, business, outsourcer sweatshop, and nonprofit, tax-exempt, organization and Church markets the cost in the wholesale and retail price of his or her product and service. Of workers, consumers, and taxpayers fund defiant of realities demands homeowners bailout with money derived from wages or independent business profit.
Is defiant of demands of Natural Law (what Mother Nature, God, or Whatever Power decreed to be the reality of the real world), God, democracy, capitalism, the US Constitution, and free, fair, and affordable commerce.
Demanding every corporation, farmer, business, outsourcer sweatshop, and nonprofit, tax-exempt, organization and Church markets the cost in the wholesale and retail price of his or her product and service. Of every Human Being honoring their mortgage agreements, workers, consumers, and taxpayers living (including pension and health care). Enabling parents to love, nurse, nurture, discipline, protect, and provide, for every child (job) they conceive and fund schools, infrastructure, national security, government services, and etc.; with money derived from wages or independent business profit.


notohp2002

Posted 07:04 AM, 10/09/2008

I think most people can add, and know what it means to make monthly payments. So are the mortgage companies at fault because a mortgage holder fails to pay according to a written contract.
If the companies raise the rate a great deal, I do blame the company. But many of the mortgage falures are just people who do not pay per month.

Maybe the USA should fund AMHA to agreater extent to house people who cannot pay mortgages.

I like john McCain because he said he cares about the murder of the unborn. Obama does not, he even thinks these unborns are not human.

But it is the continuing war and both candidates pointing toward a future worse war that bother me greatly.

Give me a good ole passifist, and I will vote for him, because of one important issue...the right to life.....which is being ignored here and abroad.

If we had not encouraged all those abortions those 40 million babies would be another 100 million Americans by now, and they would buy goods and make this country prosperous.


overthetop

Posted 09:39 AM, 10/09/2008

From what I have notice on these blogs is that everyone believes their candidate never lies. Well NEWS FLASH no politician with a political career worth mentioning can be completely honest. It just comes with the territory. And for all the hypocrites that think they have to be 100% honest think about all the lies you tell in a day. Telling fibs, half truths, little white lies, embellishing just a little, exaggerating alot, or even omitting some of the truth is all the same & we all do it everyday whether we want to admit it or not. What matters to me is the sincerity behind the person making the statement. I don't claim to know either candidates fully on their political career or personal lives but I am a decent judge of character in my own life. And if I had to gamble my life on one of the two. It would have to be with OBAMA. McCain LOOKS as though he is lying in his campaign. That sinister grin lets you know that he may not have EVERYONE'S best interest in mind. I am not rich and I am not poor. I am the very definition of middle class & if McCain can say "My Friends" ten times in a debate ....why can he not say middle class once in the very same debate to let me know he talking to me? I can tell you why...BECAUSE HE'S NOT TALKING TO MIDDLE CLASS!! That's why!


CHAOS
Akron, OH

Posted 03:22 PM, 10/09/2008

So you just vote for the better liar?
















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