In Toledo Ohio, Sen. Barack Obama unveiled his economic rescue plan for the U.S. today. The four-part plan builds upon job creation, relief to families, relief to homeowners and a response to the financial crisis.
“Today I’m proposing a number of steps that we should take immediately to stabilize our financial system,â€ said Obama. “It’s a plan that begins with one word that’s on everyone’s mind, and it’s spelled J-O-B-S.â€
For individuals, Obama proposes that the government allows every family to withdraw up to 15% from their IRA or 401(k) — up to a maximum of $10,000 — without any fine or penalty throughout 2009 and a three-month moratorium on foreclosures. For states and localities, Obama suggests that the Federal Reserve and the treasury create a lending facility that would address credit needs of local governments.
Meanwhile, the Republican National Committee launched its latest Web ad called Guilt by Participation, tying Obama to Bill Ayers, a 1960s radical who bombed the Capitol among other places.
Despite the efforts by the RNC and Sen. John McCain to paint Obama with the Ayers brush, Factcheck.org says that “there’s still no evidence of a deep or strong ‘friendship’ with Ayersâ€ and that Obama has called Ayers “detestable” and “despicable.â€
Public polls report that these kind of negative ads may have done McCain more harm than good. Sunday, the Rasmussen Reports released a tracking poll, which shows Obama attracting 51% of the vote and John McCain earning 45%. “This is the seventeenth straight day that Obama’s support has stayed in the very narrow range from 50% to 52% while McCain has been at 44% of 45%,â€ according to the report which identifies Obama to have an edge in every state won by John Kerry four years ago. McCain is trailing in four states that George W. Bush won and Electoral College projections now show Obama leading 255-163.
McCain isn’t just behind in the polls; Obama is out fundraising him and out spending him Obama’s September’s fundraising surpassed the $66 million the senator raised in August, according to the Huffington Post. Obama had more than $77 million in the bank on Aug. 31, the close of the last reporting period, and is on a pace to raise at least $100 million more by election day, writes the Los Angeles Times.
McCain Remains Upbeat
“Let me give you the state of the race today. We have 22 days to go. We’re six points down,â€ said McCain at a rally today in Virginia Beach, Virginia. “The national media has written us off. Sen. Obama is measuring the drapes, and planning with Speaker [Nancy] Pelosi and Sen. [Harry] Reid to raise taxes, increase spending, take away your right to vote by secret ballot in labor elections, and concede defeat in Iraq. But they forgot to let you decide. My friends, we’ve got them just where