Candidates Argue Handling the Economy

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After an upsetting week on Wall Street, the presidential candidates are using the market plunge to argue how they would handle America's economic troubles differently.

On Thursday, Sen. John McCain called for President Bush to fire the chairman of the Securities and Exchange Commission Chris Cox.

"The primary regulator of Wall Street, the Securities and Exchange Commission kept in place trading rules that let speculators and hedge funds turn our markets into a casino," McCain said.

"The chairman of the SEC serves at the appointment of the president and has betrayed the public's trust. If I were president today, I would fire him," he said.

McCain also said that Sen. Barack Obama is planning to increase taxes in a way that would actually make the economy worse.

"Senator Obama said in recent days that he may delay his economic plan because of the adverse impact of his tax increases. My friends, how do you, we can't elect a president who admits that his agenda will hurt our economy," McCain said.

Obama Hits Back

Meanwhile, Obama has been hammering the point that he can best fix the ailing economy.

"The reason I make this point is not because I fault Senator McCain for all the problems we're facing right now, but I do fault him for the economic philosophy that he's followed for the last 26 years," Obama said.

Obama also continues to mock McCain's proposal to create a commission to study what went wrong. He argues that McCain won't really bring change to Washington.

"Now he tells us that he's the one who's gonna take on the old boys network. The old boys network. In the McCain campaign, that's called a staff meeting," Obama said.

Obama's running mate, Senator Joe Biden, appeared on ABC's Good Morning America to talk about their economic proposals and called tax increases on the wealthy "patriotic."

"We want to take money and put it back in the pocket of middle-class people," Biden said. "It's time to be patriotic. Time to jump in, time to be part of the deal, time to help get America out of the rut."

Source: CBN News, ABC News

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