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Financial Crisis is "Final Verdict" on Disastrous Bush-McCain Economic Policies That Have Left Ameri

Nearly Trillion Dollar Bailout Illustrates Failure of Bush-McCain Economics NEWS FROM THE FLORIDA DEMOCRATIC PARTY For Immediate Release: September 29, 2008 Tallahassee, FL – The unprecedented economic crisis America faces today is the final verdict on the absolute failures of Bush-McCain economics. Bank after bank has failed, markets are in turmoil and homeowners still face uncertainty. The crisis has once again laid out the differences between the two candidates in this election. While John McCain has played politics with the bailout and failed to deliver enough Republican votes to pass a plan in the House today, and while the Bush administration asked the American people for a blank check, Barack Obama fought to ensure the inclusion of the taxpayer protections he has been insisting upon consistently since the beginning of this crisis. “While Obama was taking steps to protect American taxpayers, John McCain was trying to salvage his campaign,” said Eric Jotkoff, Florida Democratic Party spokesman. “After 26 years in Washington, and now two weeks of putting the recovery of his campaign ahead of America’s economic recovery, it’s clearer than ever that McCain is part of the problem while Obama is part of the solution. Floridians see a clear choice between past and future, change vs. more of the same, and they know that McCain will not bring the change we need.” “For 26 years McCain has been part of the culture of deregulation in Washington that created this crisis. It was McCain, Bush, and their Republican colleagues in Washington whose reckless policies led to the meltdown of our financial markets on Wall Street that has devastated Main Street. Yet even while Americans struggle, McCain has refused to admit it is time to change course on the economy.” At a time of critical need in this country, John McCain was putting his campaign first. By contrast Barack Obama worked to ensure that the deal would protect taxpayers from being even further burdened by the repercussions of the failed Bush-McCain economy. Obama’s leadership ensured that that deal includes oversight by an independent board, the assurance that taxpayers will get their money back once the economy recovers, measures to help homeowners stay in their homes, and rules to make sure CEOs are not being rewarded at taxpayers’ expense. Barack Obama still believes a deal must get done.  He’ll continue to provide the steady leadership necessary to build support and ensure that taxpayers and small businesses are protected. -###-

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