Obama calls McCain economic ideas 'out of touch'

[inanna]

Source: AP

DETROIT (AP) -- Democratic presidential nominee Barack Obama on Sunday called Republican rival John McCain's economic philosophies out of touch and dangerous for a teetering economy as Congress quickly moved toward a financial bailout of Wall Street.

"The idea that if we give more and more to those with the most, prosperity will trickle down to everyone else; the idea that no harm will be done if we let lobbyists shred consumer protections and fight against every regulation as unwise or unnecessary," Obama said, offering his summation of McCain's ideas for what county law enforcement officials said was a crowd of about 35,000 gathered outside the Detroit Public Library.

"Well, what we have seen over the last few weeks is nothing less than the final verdict on this failed philosophy. And I am running for president of the United States because the dreams of the American people cannot be endangered anymore," Obama said.


Read more: http://hosted.ap.org/dynamic/stories/O/OBAMA?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2008-09-28-15-45-23

[TwilightGardener]

1. Good stuff. That was a concise bodyslam.

[Tyler Generation]

2. This is why he will win

Sad to see McCain cling to Reaganomics when it failed right in front of all of us! American's realize we need a Democrat to even shit out.

[msongs]

3. this means Obama is gonna vote NO on the bailout that gives "more" to wall street? nt

[bulloney]

4. Reaganomics was given 30 years to work. It led to where we're at today.

It's polarized our economy to where the distribution of wealth is where it was at during the start of the Great Depression. Jobs are outsourced. The middle class is disappearing. The only growth industry is retail and war mongering.

Reaganomics was a total failure.