Sens. Obama, McCain Begin to Make Final Arguments For Presidential Bid

JUDY WOODRUFF:

John McCain and Barack Obama both started the day in Ohio, a state that has sided with the winner of the last 11 presidential elections.

McCain met this morning with his team of economic advisers at a hotel in downtown Cleveland. Later, he detailed his plans for addressing the economic crisis.

SEN. JOHN MCCAIN (R-Ariz.):

With one week left in this campaign, the choice facing Americans is stark. My economic goals and policies are very clear.

One, I will protect your savings and retirement accounts and get the stock market rising again.

Two, I will help keep people in their homes and fix our housing market and realize the American dream of owning their own home.

Three, I will create millions of high-paying jobs through tax cuts that spur economic growth, particularly for the small businesses which create 70 percent of all new jobs in this country.

Why would we want to raise taxes on anybody, most of all small businesses in America? That's what Senator Obama wants to do.

JUDY WOODRUFF:

That charge, that Obama would raise taxes, was one McCain returned to again and again.

SEN. JOHN MCCAIN:

We both disagree with President Bush on economic policy. The difference is that he thinks taxes have been too low, and I think — and I think that spending has been too high.

My approach is to get spending under control, and cut taxes, and encourage individuals to invest in our markets or buy a home, and to encourage businesses to hire more workers.

Senator Obama's approach is to radically increase spending and then raise taxes to pay for it. My approach will lead to rising stock market prices, a stabilized housing market, economic growth, and millions of new jobs.

Senator Obama's plan will destroy business growth, kill jobs, and lead to continued declines in the stock market, and make a recession even deeper and more painful.

JUDY WOODRUFF:

McCain also warned that giving the Democrats control of both the White House and Congress could be troublesome.

SEN. JOHN MCCAIN:

Now, this election comes down to how you want your hard-earned money spent. Do you want to keep it and invest it in your future or have it taken by the most liberal person to ever run for the presidency and the Democratic leaders, the most liberal, who have been running Congress for the past two years, Nancy Pelosi and Harry Reid?

You know, my friends, this is a dangerous threesome. They believe…

… they believe — they believe that $1 trillion of rescue financing is not enough and have already proposed another $300 billion spending spree they're calling a stimulus plan. I would rather give the great American middle class additional tax cuts and let you keep that money invested in your future.