Obama attacks deregulation
Democrat Barack Obama criticized Republican presidential rival John McCain on Saturday for his past advocacy of deregulation, ties to lobbyists and support for privatizing the Social Security system that many of the state's older residents depend on
DAYTONA BEACH, Fla. — Democrat Barack Obama criticized Republican presidential rival John McCain on Saturday for his past advocacy of deregulation, ties to lobbyists and support for privatizing the Social Security system that many of the state's older residents depend on.
The Democratic presidential nominee used McCain's words to portray him as an opponent of federal regulation of the banking industry.
McCain, a 26-year veteran of Congress with a long history of opposition to such regulation, now says more controls are needed to prevent a repeat of the financial turmoil that sent the stock market plunging last week.
"There's only one candidate who's called himself 'fundamentally a deregulator' when deregulation is part of the problem," Obama said at Bethune-Cookman University in Daytona Beach, Fla.
Obama quoted McCain as saying in a trade publication that opening the health-insurance market to more vigorous competition nationwide, as was done with the banking industry, would provide more choices.
"So let me get this straight. He wants to run health care like they've been running Wall Street," Obama said. "Well, Senator, I know some folks on Main Street who aren't going to think that's a good idea."
Obama continued his assault at a rally in Jacksonville. He said McCain has no solutions for the nation's economic crisis. "His solution was to blame me for it," Obama said.
Records shed light
on pay-cut claims
WASHINGTON — On the campaign trail, GOP vice-presidential nominee Sarah Palin has said at least four times that she cut her pay. "And, you know, as mayor and as governor, I tried to lead by example," she said at a Sept. 9 rally in Lebanon, Ohio. "So, as mayor, I took a voluntary pay cut, which didn't really thrill my husband."
Records from the Wasilla clerk's office show a slightly more complicated picture. Palin's pay did drop from $64,200 in October 1996 to $61,200 in January 1997. But, 17 months later, in June 1998, it jumped to $68,000. Palin's pay dipped once more in July 1999 to $66,000, according to the records, but it went back to $68,000 three months later and stayed at that level until Palin left office in October 2002.
$9M raised in 3 days
after Palin pick
WASHINGTON — Republican presidential nominee John McCain reported raising $47.5 million in August, with more than $9 million coming in the three days after he announced his selection of Alaska Gov. Sarah Palin as his running mate Aug. 29, according to a report filed late Friday with the Federal Election Commission (FEC).
Overall, McCain spent nearly $41 million in August, shy of Democratic rival Barack Obama's $55 million in August expenditures. McCain spent about $23 million on advertising, his highest so far.
Obama had not yet filed his FEC report.
Palin meeting: Republican vice-presidential candidate Sarah Palin is scheduled to meet with Afghan President Hamid Karzai this week during a U.N. General Assembly gathering in New York, campaign officials for GOP nominee John McCain confirmed Saturday.
Reunion: John McCain took time away from the campaign Saturday, traveling with wife Cindy to the U.S. Naval Academy in Annapolis, Md., for his 50th class reunion. The McCains attended a private reception and watched the first quarter of the Rutgers-Navy football game.
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