McCain Campaign On Barack Obama's Economic Speech

"So I thought it was a remarkable performance in many ways, but it doesn't address the fundamental needs of the American economy which is create jobs, provide a foundation which is a firm one for the future, and have some prosperity, reform in Washington and peace for Americans." -- Doug Holtz-Eakin

ARLINGTON, VA -- On Monday, U.S. Senator Richard Burr (R-NC) and McCain campaign Senior Policy Advisor Doug Holtz-Eakin held a conference call on Barack Obama's economic speech in Raleigh, North Carolina, saying:

Doug Holtz-Eakin: "I did think it was curious some things that were in the speech, in particular a claim that Senator McCain supported the bailout of Bear-Stearns when [Obama] didn't, when Senator Obama's clearly on the record as saying that he supported the federal intervention with Bear-Stearns and that he thought it was quote "slightly different than a bailout."

"I thought it was interesting that in the speech he took a shot at Senator McCain for supporting supposedly a tax cut for Exxon when it was Senator McCain who has first of all voted against the 2005 Energy Policy Act. Senator Obama favored that act. It was full of reckless favors for oil companies. Senator McCain has proposed eliminating all special tax breaks for oil companies and understands that in an economy where jobs are the single most important foundation on which a family can build a life having a tax rate that keeps jobs here and not abroad is central to the future of the American worker. That's a judgment that needs to be made at a time when jobs are a scare commodity.

"And I thought it was remarkable that Senator Obama could talk about housing, talk about ethics, and fail to mention that he entrusted the single most important decision in his campaign, the choice of the vice presidential running mate, to a gentlemen, Mr. Johnson, who benefitted from preferential lending at Countrywide and state financial payouts from that company and is thoroughly entangled in the sub-prime housing mess that Senator McCain has made proposals to address and which is plaguing so many American families.
"So I thought it was a remarkable performance in many ways, but it doesn't address the fundamental needs of the American economy which is create jobs, provide a foundation which is a firm one for the future, and have some prosperity, reform in Washington and peace for Americans."

Senator Richard Burr: "It is very easy to focus on the 94 times in just three years that Barack Obama has voted to raise taxes. I think that there are certain things that the American voters can predict and raising taxes on the part of Senator Obama is a pretty certain thing. Senator McCain has been very bold in his pledge to keep taxes low, to cut the corporate tax rate in this country. And most Americans understand that when you have the second highest corporate tax in the world that it's just a matter of time before that affects the investment in this country and the job creation in this country. Senator McCain has said he wants to give the middle-class a tax break. He wants to eliminate the Alternative Minimum Tax, something that the United States Senate, the Congress, deals with, taken off the backs of the middle-class every year. John McCain has proposed to make taxes simpler. I think the majority of America wants a simpler proposal on taxes and Senator McCain has proposed giving them that choice."