Obama: This Is What a Bush-McCain Economy Feels Like

CHICAGO–Barack Obama is expected to frame the collapse of Lehman Brothers and the sale of Merrill Lynch as indicative of the mismanagement of the economy by Republicans over the last eight years at a campaign stop in Grand Junction, Colorado today. The remarks are part of a more aggressive stance the Obama campaign is taking this week, with vice-presidential candidate Joe Biden arguing that John McCain has changed for the worse and a new ad calling the McCain campaign dishonorable. Obama’s remarks, according to Obama staff on the campaign plane, will seek to make the point that with Wall Street imploding, McCain’s stewardship of the economy will be similar George Bush’s. That is to say, not good.

The following campaign statement, released in response to the latest McCain ad, is sort of a thematic preview:

“John McCain has been in Washington for twenty-six years and hasn’t lifted a finger to reform the regulations that could’ve prevented this crisis. In fact, his campaign is run by some of the very same lobbyists who fought against these regulations and worked to put special interest giveaways in our federal budget. Now he’s proposing $200 billion in tax breaks for the biggest corporations in America but not one penny of relief to more than 100 million Americans who are worried about their life savings and their ability to make their mortgage payments. John McCain buys into the same failed economic theory that landed us in this mess in the first place, and we can’t afford to take a chance on his disturbingly out-of-touch policies at a time when our economy is in crisis,” said Bill Burton, Obama Campaign Spokesman.

UPDATE: All of a piece, of course, with <a href="http://my.barackobama.com/page/content/honor_ad/"this.