US presidential candidates argue about economy

The Associated Press ,  Washington   |  Sat, 10/04/2008 4:44 PM  |  World

The U.S. presidential race spotlight returned to the top of the ticket as Barack Obama and John McCain traded charges over whose policies were to blame for America's deepening economic woes.

One day after the vice presidential debate failed to reshape the presidential race, both White House hopefuls turned their attention Friday t the issue that has dominated the campaign and voter interest: a teetering economy and a government plan to rescue Wall Street after weeks of financial upheaval.

Despite the passage of the unprecedented US$700 billion financial bailout, there was no indication that economic issues would take a back seat toother concerns. Wall Street ended an intensely volatile week Friday with another sell-off, and the government reported the worst monthly job losses in over five years.

With that grim economic backdrop, Obama, the Democratic contender, is seeking to solidify his lead in national and battleground polls, whi Republican rival McCain looks for a game-changing development to close a gap that came after he struggled to respond to the crisis.

Obama used Friday's ugly job news to argue that the policies of his Republican opponents "are killing jobs in America every single day." McCain retorted that Obama's tax ad spending plans will not solve the problem.

The Illinois senator encouraged voters to change Republican leadership in the White House, continuing a theme of tying McCain to the unpopular President George W. Bush. Obama disputed vice presidential candidate Sarah Palin's debate claim on Thursday that his eonomic plan would be a job killer.

"When Sen. McCain and his running mate talk about job killing, that's something they know a thing or two about," Obama said. "Because the policies they've supported and are supporting are killing jobs in America every single day."

His commens at a rally in the battleground state of Pennsylvania came as the government reported employers cut 159,000 jobs last month, marking the ninth straight month of job losses.

Hours later at a town hall meeting in Pueblo, Colorado, McCain said Obama's plans would hurt the economy.

"He wants higher taxes, more government, higher spending, and frankly that record is not something which has been good for America and we won't let it happen," McCain said. The McCain campaign launched a new national TV ad Friday repeating his claims.

Obama is proposing tax increases only for those earning more than US$250,000 but would cut taxes for those making less - details that McCain and Palin don't mention.

Polls show Obama has made progress in persuading voters that he's ready to be president and that McCain would continue Bush's economic policies. But the Illinois senator still has work to do to lock down his lead in case outside events or campaign blunders change voter perceptions.

Obama planned to continue to use the economy and McCain's 90 percent support for Bush in the U.S. Senate to hammer his opponent. Aides still view the race as very close.

McCain's campaign is trying to regroup from a disastrous two weeks in which McCain struggled to find the right note on Wall Street. Palin's qualifications came under fire from Republican critics after she appeared ill-informed in TV interviews.

The Republican nominee's poll numbers slipped everywhere, dropping so far in Michigan that the campaign pulled the plug. It diverted resources elsewhere, even moving to shore up Republican bastions such as the states of Indiana and North Carolina.

Palin on Friday told Fox News that she disagreed with the decision to abandon the effort in Michigan, a campaign move she only learned about Friday morning when she read it in the newspapers.

"I want to get back to Michigan, and I want to try," said Palin, who acknowledged that polls in the state show the Obama outdistancing McCain.

McCain's advisers argued that Palin's debate performance against Obama's running mate, veteran Sen. Joe Biden, quieted Republican critics and reassured other skeptics enough to stop McCain's slide, but it was too early to know for sure how voters feel.

McCain's advisers say that now that the bailout has been approved in Congress he will go hard on Obama by emphasizing liberal positions Obama has taken in Senate votes.
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