Obama blasts McCain on privatization plans
DAYTONA BEACH, Fla.–U.S. Democrat Barack Obama accused Republican presidential rival John McCain yesterday of wanting to gamble with the retirement savings and health care of Americans by subjecting them to the uncertainty of open markets.
As the government prepared another costly bailout of the reeling U.S. financial system, Obama said McCain’s support for privatizing Social Security and opening up the health-care system to market forces would put Americans at financial risk.
He attacked McCain for supporting some privatization of Social Security retirement funds, a proposal President George W. Bush made a centrepiece of his 2004 White House campaign but was unable to push through Congress.
"I know Senator McCain is talking about a `casino culture’ on Wall Street – but the fact is, he’s the one who wants to gamble with your life savings," Obama said at a rally in Daytona Beach in Florida, a state with a large population of seniors and retired workers.
"That is not going to happen when I’m president," the Illinois senator said, asking the crowd to imagine the fears of retirees who found their Social Security funds tied to the current market.
The latest political skirmishing came as the Bush administration readied a $700 billion financial markets rescue plan for Congress that would almost certainly restrict the agenda and limit the number of costly programs advocated by whoever becomes the next president.
The turmoil on Wall Street recently has dominated the campaign for the Nov guaranteed payday loans how to get a free credit report. 4 presidential election, with McCain and Obama trading attacks over who offered the best economic approach.
The McCain campaign said Obama was trying to scare Florida’s senior citizens about their retirement accounts.
"John McCain is 100 per cent committed to preserving Social Security benefits for seniors, and Barack Obama knows it – this is a desperate attempt to gain political advantage using scare tactics and deceit," said McCain spokesperson Tucker Bounds.
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