World | Posted on Sep 17, 2008 at 05:46pm IST

Obama, McCain take different stands on econom

Tom Forman, CNN

New York: The latest financial earthquake rumbled through Wall Street, and tremors were rattling the campaign trail.

In Colorado, Barack Obama called it more bad fallout from years of republican rule.

"For eight years we've had policies that have shredded consumer protections that have loosened oversight and regulation, and encouraged outsized bonuses to CEO’s while ignoring middle class Americans. The result is the most serious financial crisis since the Great Depression, “ said Barack Obama.

In Florida, John McCain blamed big business, and bad governance.

"People are frightened by these events. Our economy, I think the fundamentals of our economy are strong, but these are very, very difficult times. And I promise you we will never put America in this position again. We will clean up Wall Street. We will reform government," said McCain

For all that, with each new bit of bad news, both men are pushing their plans for economic reform.

McCain is hitting hard on balancing the federal budget, cutting wasteful spending, and reducing food prices among other things.

Obama wants to invest more in manufacturing; fund more research and education; and crack down on credit card companies to list some of his goals.

One has to really wait and watch out to know if any of the plans will really work.

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