While Americans watch news of trouble on Wall Street on their flat-screen TVs, the candidates have hit back hard with criticism and calls for change. Both candidates addressed the financial crisis. McCain said this morning:
There’s nothing wrong with the workers of America. I believe that they’re the fundamentals. . . . Others may not. I think that the worker of America is the reason that we’ve been the preeminent economy in the world for a long, long period of time. America is in crisis today. . . . We need a 9/11 commission, and we need a commission to figure out what went wrong and how to fix it. And I know we can do it and how to do it.
After dismissing McCain's call for a commission as passing the buck, Obama said:
My priority as president will be the stability of the American economy and the prosperity of the American people. And I will make sure that our response focuses on middle-class Americans – not the companies that created the problem. To get out of this crisis – and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again – we must take immediate measures to create jobs and continue to address the housing crisis; we must build a 21st century regulatory framework.
McCain argues that his tax cuts for the wealthy and for corporations would simulate growth, while Obama says that he would prevent future crises, a plan he says is contrary to the GOP's philosophy of deregulation.