Obama Hits McCain For Do-Nothing Economic Plan

GREENSBORO, NC -- Barack Obama said today that John McCain, like President Bush, is offering a do-nothing prescription for dealing with a rapidly-sinking economy.

"According to John McCain, he said the best for us to address the fact that millions of Americans are losing their homes is to just sit back and watch it happen," Obama said. "In his entire speech yesterday, he offered not one policy, not one idea, not one bit of relief for the nearly 35,000 North Carolinians who were forced to foreclose on their dream in the last few months. Not one, not one single idea or a single policy prescription."

Obama said that Bush lead the country down this road in a similar manner for the past eight years.

"It's the idea that the government has no rule at all in solving the challenges facing working families," Obama said. "That all we can do is hand out tax breaks to the wealthiest people and let the chips fall where they may. George Bush called this the 'ownership society' -- but what he really meant is 'You're on your own, society.''"

"If you lose your job, you're on your own," Obama chanted. "If you're a child in poverty, pull yourself up by your bootstraps, you're on your own. If you were lured in by deceptive mortgage practices, you're on your own."

"John McCain apparently wants to continue this, while the rest of America is struggling with rising tuitition, skyrocketing healthcare costs, plant closings, failing schools," he said. "You are on your own."

Obama launched the attacks on McCain and Bush during a town hall attended by about 1,000 people at the War Memorial Auditorium.

"The economy," Obama cautioned, "is grinding to a halt."

(NBC/NJ's ASWINI ANBURAJAN)