The Toledo Blade Online
The Toledo Blade OnlineThe Toledo Blade Green Edition
Click here to subscribe or renew!
Temp: 34°
Humidity: 92%
Sunday, 11/22/09
Home »   Latest News »   Politics/Elections » 

Click to Receive RSS Feeds!EmailPrint IndexHelp FacebookMySpaceDiggDel.icio.usFark

Article published October 11, 2008
Obama calls for haste with $700B bailout

CHILLICOTHE, Ohio — Democratic presidential candidate Sen. Barack Obama yesterday sought to reach out to white, working-class voters in Appalachian Ohio — at the same time he called on the Bush Administration to act with more dispatch to stem the crisis of confidence in the world economy.

Mr. Obama called for the public to be calm and for the Treasury Department to act quickly to start using the $700 billion in authority to loosen up credit markets.

'What they need to do is use the tools that they've got immediately,' Mr. Obama said in response to a question about panic selling. 'We've given them authority to capitalize the banks, we've given them the authority to buy up assets, we've given them the authority even to apply guarantees. The Fed is already using its authority on the commercial paper markets.

'The problem is that there's been a lack of coordination, a lack of marketing of what's being done, clarity — so that the market understands these clear signals,' Mr. Obama said.

'My hope is over the weekend that package is being put together in a way that can really start making a difference.'

Newly added to his speech is a reference to President Franklin D. Roosevelt, who took office in 1933, at the depths of the Great Depression.

'We have seen our share of hard times. The American story has never been about things coming easy,' Mr. Obama said. 'We remember that some of the most famous words ever spoken by an American came from a President who took office in a time of turmoil — ‘The only thing we have to fear is fear itself.'?'

Not only is Mr. Obama leading in new opinion polls in the critical battleground state of Ohio, but he's outspending his rival.

For the general election so far, Mr. Obama has outspent Mr. McCain $12.8 million to $10.7 million in Ohio, and the gap is widening, according to Evan Tracey, president of TNS Media Intelligence in Virginia, which tracks media spending by politicians.

He said on a recent day, Oct. 8, Mr. Obama outspent Mr. McCain $401,000 to $123,000.

'Obama's literally blocking out the sun,' Mr. Tracey said.

Toledo media have seen $2.5 million of that money, with 10,000 spots purchased in the general election so far.

Yesterday, Mr. Obama wrapped up a two-day bus trip that took him to Dayton, Cincinnati, Portsmouth, Chillicothe, and Columbus, speaking to a total of more than 50,000. He gave the same basic speech in each location, talking about the economic crisis, attacking his opponent, and laying key elements of his platform.

Mr. Obama and his campaign were to fly on to Philadelphia, with plans to fly
to Toledo Sunday night for the start of four days of preparing for the third and final presidential debate next Wednesday night.

In his remarks, Mr. Obama seemed to allude to the attacks coming from the campaign of Republican nominee Sen. John McCain about Mr. Obama's relationship with '60s radical Bill Ayers.

'It's easy to rile up a crowd by stoking anger and division. The American people aren't looking for someone who can divide this country — they're looking for someone who can lead this country,' Mr. Obama said.

The scene of Mr. Obama speaking in front of the historic Ross County Courthouse yesterday, with American flags flying and a large crowd cheering, could have been a postcard.

Mr. Obama unveiled what he called a 'small business rescue plan' to offer disaster-style loans through the Small Business Administration and to offer tax incentives immediately to encourage new investments.

Ohio Gov. Ted Strickland, a native of southern Ohio who previously represented the area in Congress, urged listeners not to be deceived in the heat of the
campaign.

'Unfortunately, there are those who have tried to spread untruths about Barack Obama. Barack Obama is a good, Christian family man. The McCain-Palin campaign and unfortunately some of their followers would want you to be afraid of Barack Obama,' Mr. Strickland said.

Mr. Strickland also tried to assure sportsmen and hunters that Mr. Obama supports their Second Amendment right to own weapons.

After the speech in Columbus's Genoa Park, Mr. Obama paid an
unannounced visit to a meeting of 700 Obama volunteers, who erupted in prolonged cheers when Mr. Obama suddenly burst into the Greater Columbus Convention Center.

In Chillicothe, Mandy Mac­Lachlan, 30, said she wants Mr. Obama elected to 'make sure my kids have health insurance and my grandkids have health insurance. I don't want the rich to keep getting richer with no concern for the middle class.'

Construction foreman Bruce Bennett, 52, of Pickaway County claimed, 'The Republicans killed the middle class. They're strangling us real hard. If you want to finish them off, just vote Republican.'

Contact Tom Troy at: 419-724-6058, or tomtroy@theblade.com.


Permanent Link

Cops/Courts
Updated: 7:31 pm
Convenience store robbed in North Toledo >>
State
Updated: 7:30 pm
Ohio sues big credit rating units over losses >>
Blade Area
Updated: 7:30 pm
Skeldon could get buyout >>
Politics/Elections
Updated: 7:30 pm
McNamara to explore running for Ohio Senate >>
Blade Area
Updated: 7:31 pm
Swine flu claims Wood County man >>
Cops/Courts
Updated: 4:43 pm
Woman, 21, gets 13 years for killing >>
More news stories
 



click here!

ADVERTISING SECTIONS
S. Amjad Hussain
Updated: 4:26 am
Muslims must do more than condemn acts of violence >>

Marilou Johanek
Updated: 5:58 am
In a dog's life, there's nothing to worry about >>

Jack Kelly
Updated: 6:26 am
Obama’s vendetta >>

Jack Lessenberry
Updated: 5:56 am
Granholm's shortsighted rhetoric on China hurts state >>

Rose Russell
Updated: 6:24 am
The food you waste could feed hungry people  >>

David Shribman
Updated: 6:34 am
Abortion, not public option, imperils reform >>

Mike Sigov
Updated: 6:26 am
GM acted wisely by hitting brakes on Russian deal >>

Tom Walton
Updated: 5:00 am
Young adult binge drinking nothing to slough off >>

More columnist stories
MOST READ STORIES
1.  The view from the penthouse
2.  The artist’s vision: Sylvania ophthalmologist studies how painters’ vision problems affect their work
3.  What is the American Dream?
4.  Gourmet dinner planned for St. Francis Knight's Ball
5.  Enduring charm of ‘Nutcracker’
6.  It's family that makes Thanksgiving a special day
MOST E-MAILED STORIES
1.  Owens failed to address shortcomings in nursing
2.  BGSU plans for 2 new dormitories
3.  Buckeyes sport retro look of 1954
4.  Owens students get apology for lost accreditation
5.  Toledo fares poorly in survey
6.  Skeldon says he will step down Dec. 31, but Konop wants him dismissed immediately
7.  Ex-OSU coach Bruce instills passion for rivalry
8.  Company outlines $37.5M port plan
9.  Chrysler boosts Dundee plant; engine line to gain jobs, add output
10.  Owens faculty vote no confidence in provost


AP  News Headlines



AP  Business Headlines



AP  Sports Headlines


AP  Features Headlines
Copyright 2009 The Blade. By using this service, you accept the terms of our privacy statement and our visitor agreement. Please read them.
The Toledo Blade Company, 541 N. Superior St., Toledo, OH 43660, (419) 724-6000
To contact a specific
department or an individual person, click here.
The Toledo Times ®