PORTSMOUTH — Barack Obama promised to lift America from its economic slump and blasted John McCain’s proposals for doing so Thursday in Portsmouth.
Speaking to several thousand people gathered on the Alumni Green at Shawnee State University, Obama called for a multi-pronged response to the economic crisis that has sent stock prices plummeting and all but paralyzed the credit market.
The recently passed $700 billion bailout package can help mortgage holders but must be administered to benefit taxpayers and crack down on predatory lenders, he said. Bankruptcy laws should be changed to allow write downs for those who own a single dwelling. Currently such relief is available to owners of multiple homes, such as vacation homes, but not those who own just one. “Why should we treat someone with seven homes better than someone with one home?”
McCain’s plan to buy out mortgages would reward irresponsible banks and lenders by paying the full cost of the debts, rather than sharing the burden, he said.
Obama criticized the McCain campaign’s attack strategy. “We’re in the worst crisis since the Depression, but McCain doesn’t want to talk about the economy. He wants to attack me,” he said. “He shouldn’t be worrying about losing a campaign, he should be worrying about people losing their jobs.”
Obama repeated his pledge to cut taxes to 95 percent of Americans and that earners of less than $250,000 would pay no additional tax.
He called McCain’s plan to provide $5,000 tax credits for health insurance a “bait and switch trick” that would end up costing most Americans because they would end up paying more for their insurance. He said insurance companies shouldn’t be allowed to discriminate based on pre-existing conditions.
Obama also pledged to invest in preventive care, create jobs in green energy and rebuild infrastructure.
The crowd of thousands included some from Kentucky. “I’m a Republican gone Democratic,” said Kim Gross, who was standing near the front of the crowd with her three daughters, Jorden, 14, Arden, 13, and Loren, 11. “He gives me a feeling like Ronald Reagan, like I want to get off the couch and do something,” Gross said.
Mike Campbell drove from Bath County to see Obama. “We can’t stand four more years of these right-wing, conservative Republicans in the White House.
“We won’t make it unless we throw the bums out.”
Earlier, Ohio Senator Sherrod Brown had aimed a request at Kentuckians in the crowd: “Don’t just elect Barack Obama but beat Mitch McConnell the same day,” he said. McConnell is locked in a tightening race with Bruce Lunsford for his Senate seat.
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Obama speaks in Portsmouth
<a href="http://static.cnhi.zope.net/flashpromo/dailyindependent/flashpromo/slideshow/obama_show/">Audio slideshow: Obama campaigns in Portsmouth<b><b>
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