The Washington Times
  • Subscribe
  • Customer Services
  • RSS
  • Mobile Headlines
  • e-edition
  • E-MAIL ALERTS
  • REGISTER
  • LOG IN
  • E-MAIL ALERTS
  • WELCOME
  • Your Profile
  • Log Out

  • Front Page Image
  • Classifieds
  • Autos
  • Real Estate
  • Jobs
  • Special Sections
  • Times News Services
  • Home
  • News
  • Opinion
  • Sports
    • NFL
    • NBA/WNBA
    • MLB
    • NHL
    • Tennis
    • Golf
    • Motorsports
    • Soccer
    • NCAA
    • Olympics
    • Outdoors
    • Алекс Овечкин
  • Culture
    • Home & Living
    • Family & Kids
    • Fashion
    • Food
    • Travel
    • Health
    • Washington Visitors
    • Books
    • Military History
    • Life
    • Auto
    • TV Listings
    • Movie Listings
    • Death Notices
    • Entertainment
  • Themes
  • Communities
    • Donne Travels
    • Lives Common
    • National Pastime
    • Politics 101
    • Stories of Faith
    • Civil War
    • Middle - America
    • Chicago Blue State
    • Zadzooks
  • Marketplace
    • Autos
    • Jobs
    • Real Estate
    • Classifieds
    • Shopping
    • Dining Out
    • Education
    • TWT Store
  • Videos
    • Two Guys
    • Birnbaum on Washington
    • Liz Glover
    • Amanda Carpenter
    • Morning Briefing
    • Documentaries
  • Podcasts
    • About Headlines
    • Inside the Beltway
    • Inside the Story
Home > News > Editor Favorites

McCain, Obama offer little on economy

By Joseph Curl (Contact) | Tuesday, September 16, 2008

  • Bookmark and Share
  • Article
  • Comments ()
  • Print
  • [-][+] Font Size
  • E-Mail Alerts
  • Tell a Friend
  • Got a Question?
  • You Report
  • Click-2-Listen

The two presidential candidates on Monday put aside their heated debate over pig lipstick and returned to the issue most dear to Americans - the economy - but neither offered any new ideas for ending the financial crisis on Wall Street.

In a dizzying day of dueling statements and rapid-response rebuttals, Sen. John McCain said his long experience in Washington makes him better suited to combat Wall Street's greed and corruption. Sen. Barack Obama, meanwhile, blamed Republican policies for the crisis and claimed he would target aid to middle-class America most hurt by the current financial meltdown.

Yet as they spoke, evidence emerged that the economic fiasco had outgrown government intervention, and their words failed to quell a record plunge of the Dow, which apparently didn't care that both presidential candidates openly oppose a sputtering U.S. economy.

With two of America's oldest financial institutions crumbling amid a mortgage crisis and plummeting real estate values, the nominees faced off in a war of words, with attacks and counterattacks, each declaring that he is best able to handle the current economic upheaval.

"You know that there's been tremendous turmoil in our financial markets in Wall Street," Mr. McCain said to supporters in Jacksonville, Fla. "People are frightened by these events. ... I think still, the fundamentals of our economy are strong, but these are still very, very difficult times, so I promise you: We will never put America in this position again. We will clean up Wall Street."

Mr. Obama said Mr. McCain's statement shows that the Republican is "out of touch" as he sought to tie the Arizona senator to the Bush administration.

"This country can't afford another four years of this failed philosophy," the Democrat said in an early morning statement. "The challenges facing our financial system today are more evidence that too many folks in Washington and on Wall Street weren't minding the store."

But Mr. Obama added: "I certainly don't fault Senator McCain for these problems, but I do fault the economic philosophy he subscribes to."

On Capitol Hill, lawmakers pointed partisan fingers, with Democrats and Republicans blaming each other for not doing enough to stabilize the shaky financial markets. Neither presidential candidate questioned the Congress that they're part of for its oversight of the tumultuous markets.

"Failing to police lenders and neglecting to protect consumers ushered in the subprime crisis that has brought the American economy and Wall Street to their knees," said Senate Majority Leader Harry Reid, Nevada Democrat. "This 'anything goes' approach to governing has resulted in lost jobs and carries an enormous price tag for the American taxpayer."

Continue reading 12Next

[Get Copyright Permissions] Click here for reprint permissions!
Copyright 2009 The Washington Times, LLC

Bookmark and Share

Comments

Read Comments

Post your comment:

Please login or register to post a comment

Do you have another point of view, photos, audio, video or more information about a story?

  • Democratic presidential candidate Sen. Barack Obama, attending a rally in Grand Junction, Colo., released a statement linking Mr. McCain to President Bush's "failed philosophy." (Agence France-Presse/Getty Images)
  • Republican presidential nominee Sen. John McCain, speaking at a town hall on Monday in Orlando, Fla., says he has the experience to get Wall Street under control. (Getty Images)

Click the photo to enlarge. « Previous | Next »

Advertisement

Top Stories

Most Read

  1. EDITORIAL: Passing unread laws
  2. Inside the Ring
  3. Senate delays climate bill until September
  4. EDITORIAL: Sotomayor's secret files
  5. YON: Girl with no future

Most Shared

  1. EDITORIAL: Passing unread laws
  2. HOLMES: Deja vu on dictators, double standards
  3. EDITORIAL: Return of the Black Panther
  4. Bloated deficits endanger dollar's global status
  5. Israeli know-how
  6. EDITORIAL: The fate of FedEx
  7. EDITORIAL: Dancing with the bear
  8. YON: Girl with no future
  9. EDITORIAL: Rewriting economic history
  10. LETTER TO EDITOR: Coming to grips with Palestinian guilty trips

Most Commented

  1. Jeb Bush, GOP: Time to leave Reagan behind
  2. WH communications director leaving
  3. Freddie Mac acting CFO found dead
  4. Kerry aims to rescue newspapers
  5. Fidel Castro: Obama 'misinterpreted' words
  6. President Obama said those who approved harsh interrogation techniques for suspected terrorists may be subjected to criminal charges. Do you agree?
  7. President Obama said those who approved harsh interrogation techniques for suspected terrorists may be subjected to criminal charges. Do you agree?
  8. Gibbs: Pay no attention to what Rahm said
  9. Politics' Talking Heads Highlight Speaker Series
  10. Fleecing Mike Ditka

Poll

Will you be traveling this 4th of July weekend?

Market Data

Advertising Links
TWT Store
  • e-edition
  • Print Edition
  • Weekly Washington Times
TWT Affiliates
  • Middle East Times
  • Golf
  • UPI
  • Arbor Ballroom
  • Washington Times Global
  • About TWT
  • Press Room
  • F.A.Q.
  • Work for TWT
  • Advertise
  • Sponsors
  • Contact Us
  • Privacy Policy
  • Site Map

All site contents © Copyright 2009 The Washington Times, LLC.