Obama Vs. McCain: Who Will Better Serve the U.S. Economy?

  • Published on October 15th, 2008

The word was that both candidates had prepared meticulously for the final presidential debate.

  1. Obama had a three point strategy:

  2. 1. To continue exactly as he has been without making any mistakes now.

2. To close the stature gap; to prove wrong those who still believe that Obama does not have the experience or judgment that McCain has.

3. To show America how he would address the issue of economy

McCain’s debate strategy:

1. To attack Obama’s association with William Ayers without being offensive to the extent where he would turn people off

2. To show America how he would address the issue of economy

After another tumultuous day in the market with the worst one-day percentage declines since the crash of 1987, addressing the state of the U.S. Economy was supposed to be foremost for both candidates in an effort to win the votes of undecided and independent voters. Advisers for each candidate said that he would use the final debate to lay out his vision for the country and promote his economic policies while drawing differences with his opponent.

So what exactly happened?

McCain’s Take On The Economic Situation:

“Americans are hurting right now, and they’re angry,” said McCain, calling struggling homeowners “innocent victims of greed and excess on Wall Street and Washington, D.C.”

Answering criticism of the $300 billion plan McCain said that he would buy Americans’ bad mortgages, and that his proposal would benefit, not hurt, homeowners who had continued to pay their mortgages on time.

He said that he would reduce taxes to help people like “Joe the Plumber” buy the business he had dreamed of and employ people. Joe would not be eligible for tax cuts under Obama’s proposal because he earned more than $250,000 per year.

He also claimed that energy independence will create millions of jobs for Americans.

Obama’s Take On The Economic Situation:

It doesn’t help that person’s home if their neighbor’s house is abandoned,” he said.

Obama described the new economic plan he announced Monday, a $60 billion proposal that would offer tax breaks for companies that create jobs, eliminate penalties for early withdrawals from retirement accounts, postpone foreclosures and boost federal outlays to states and cities.

Obama suggested that McCain’s economic policy would be a continuation of the Bush administration sharp exchange came as both men outlined their new proposals to rescue the faltering the U.S. economy as they began their third debate, perhaps McCain’s last chance to change the course of a campaign moving decidedly in his opponent’s favor. But McCain sharply refuted this.

But Did Either of Them Really Address the Economics Issue?

Although both candidates certainly talked economics, did either of them either give Americans the big picture? Where we are now… where we are headed….what the long term impact will be? Neither of them really answered the question relating to the deficit.

Did each address the issue well enough to give confidence to American voters? What is your opinion?

Related Posts:

Obama vs. McCain: Who Will Better Support Joe The Plumber?

Image Credit: Google

About the Author

Reenita Malhotra Hora is an Ayurveda clinician, entrepreneur, writer and mom. Her experience has ranged from running Ayoma, an Ayurveda business to running a natural health practice at San Francisco's California Pacific Medical Center. Reenita is a published author of two books books about health and wellness: ‘Ayurveda - the Natural Medicine of India’ and ‘Inner Beauty’. She is also the Editor for Green Options Media's business blogs and a freelance writer for a variety of print and web publications. In quieter moments, she likes to spend her time hiking, swimming the warm seas, cooking with the family or writing fantasy fiction adventure stories for kids from from 2 to 92. Check out her wisdom at www.reenita.com

9 comments

  • what is the most important thing in our lives other than family and food it is money and now we dont have any. My parents are running out of money and we need a change and the one person that can do that is obama. Come on we cant have another bush then i would need to move. Yes obama is making more tax but it will help us in the long run with solar and other fuels. we need somthing better that gas. yes obama does not have the best experience but he has more than normal and he will be a better president that Mccain.

  • So it’s true..Once you’ve made your decision, thenn nothing can change your mind. Most of the people who posted think Obama’s dumb, and most Obama friends think McCain voters are dumb. But see- here’s the problem.

    Now, adressing the issue. I’m with Obama. I’m a Democrat, through and through; he wants to to help those who need it, not made it easier for the rich. McCain’s plan will give most reductions to the more rich people. If someone needs help, it’s the ones living in the filthy crevices. Under Obama’s plan, it’ll be a bit bearable.

    All of my family earns less than 250k a year. We’re middle class. Also, as I’m a fair person, I like fair play. Spreading the wealth around is an excellent idea. Surley the 5% of rich folks who need the money can afford to pay a few dollars more?

  • Obama is the bomb if you don’t don’t like him enough your not cool and he is our first black president and mccain is going to lose

  • If Joe has received the treatment he has received because he asked Obama one question what would happen to the rest of us if Obama is elected?? In other words, you speak against him and he will make your life miserable. Freedom of speech? Maybe for at least a couple of more weeks if he is elected so better make the most of it now and not let Obama know you have spoken against him or questioned him about anything he plans for this country. God help us all if he becomes president. Joe asked a legitimate question that all of us wanted an answer to and he has become a national phenomenon. He cannot work or have any privacy at all now because he asked that one question. What would happen if you questioned Obama's entire policy?

    Remember all of this has happened BEFORE he is put in charge of this country if people are dumb enough to elect him.

  • Lucho, Connie, what are you doing? You're not supposed to lobby in random blogs! Our efforts need to be bundled!

    Now get back to YouTube and keep spamming pro-Obama videos!

  • the fact that anyone is praising McCain for his performance in the third debate proves that he and Palin have lowered people's expectations down to nothing (don't forget, the VP debates were a tie!)

  • I consider McCain’s proposal the most coherent one… we already knew what is going on and what are their positions… the fact is that McCain represents the individual pride and he will supporting it by helping people to be indipendent… that’s what americans always did: we dont need help, i can by myself. Anyway Obama proposes an extension of the welfarestate that will send the government bankrupt… who will support and buffer the financial crisis? McCain is adressing that, he took responibility and he knows how to do it right the first time. If Americans dont understand their own history and the real socio-political-economical that engine the world they would vote in favour of Obama decieved by a romantic rebelion… McCain said clearly: my campain is about getting this economy back on track, creating Jobs, about a brighter future for america. im not going to rise taxes…
    Hope MCCain gets the chance to serve again for the US.

  • McCain blew Obama away. He is the only one who will make a concerted effort to curtail spending and lower taxes. Obama made the comment that some governement programs are underfunded, but didn’t say which. That comment alone implies he will expand government and spend more. That always leads to higher taxes. McCain wants to reduce the size of government, which will make it more transparent to the people. Obama wants to head us toward universal healthcare and universal preK. If the federal government couldn’t regulate Fannie & Freddie (which McCain wanted to do), how can it manage healthcare and preschool?

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