McCain: “The Fundamentals of Economy are Strong” | Obama: “The Most Serious Financial Crisis Since the Great Depression”

On the campaign trail, Senator John McCain said that the fundamentals of the economy remain strong.

Sen. John McCain: “You know that there’s been tremendous turmoil in our financial markets and Wall Street. And it is—people are frightened by these events. Our economy, I think, still, the fundamentals of our economy are strong, but these are very, very difficult time. And I promise you we will never put America in this position again. We will clean up Wall street. We will reform government. And this is a failure.”

Senator Barack Obama accused McCain of subscribing to the same economic philosophy as President Bush.

Sen. Barack Obama: “For eight years, we’ve had policies that have shredded consumer protections, that have loosened oversight and regulation and encouraged out-sized bonuses to CEO’s while ignoring middle-class Americans. The result is the most serious financial crisis since the Great Depression. And I certainly don’t fault Senator John McCain for these problems, but I do fault the economic philosophy he subscribes to, because it’s the same philosophy we’ve had for the last eight years.”