Obama On McCain’s Plan about US economy

Over 8000 people in the minor league baseball stadium in Dayton, Ohio, Obama started to speak amidst a huge roar from his supporters.Obama called McCain’s plan on buying the bad mortgages is a risky one.He also said that it would add an additional burden on the tax payers with bill.Obama said that “We have to act to fix our broken economy and restore the credit markets. But taxpayers shouldn’t be asked to pick up the tab for the very folks who helped to create this crisis,” he told an 8,000 plus crowd in a Dayton minor league baseball stadium. “It’s a plan that would guarantee that American taxpayers lose by handing over $300 billion to underwrite the kind of greed and irresponsibility on Wall Street that got us into this mess.”

He also went in personal to say about John McCain.He said that the Senator JohnMcCain is not sure of what he speaks.Obama said that it was McCain who told on Tuesday that it would be better if the mortgages that are good in value should be purchased.But now on wednesday he has changed his view and called the government to purchase the bad mortgages even if they are more that the home ones.Obama said that these kind of erractic behaviour by McCain is irresponsible and said that the people of US needs a President who can standstill even in the time of crisis.He also added that the white house needs a person who is strong with his perception.Obama said McCain would be encouraging lenders to “keep up their bad behavior” because they would not be punished for poor business decisions. Obama also said McCain’s proposal “wasn’t particularly new” as he himself had encouraged buybacks as a way to keep people in their homes and the Treasury secretary was given the power to renegotiate mortgages in the congressional bailout package.

Barack Obama also said that in Ohio the unemployment is 7 % and he is fighting for that, whereas McCain has not done anything for unemployment issue.Obama got a huge response from Ohio supporters and expressed his views strongly and boldly. 

For more updates on US Elections click on here..US Elections

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