September 16th, 2008
07:42 AM ET

Morning Buzz: Biden blames Bush and McCain for economy

Penny Manis
AC360 Senior Producer

We kicked off the week with bad news on Wall Street and it seems there could be more reports of financial troubles today. AIG, one of the world’s largest insurance companies, is now under pressure. Both campaigns spent much of Monday talking about the meltdown on Wall Street, each side offering its own remedy.

We expect more talk on how to fix economic troubles today. Already, Sen. Biden appeared in an interview with CNN bright and early this morning, squarely blaming John McCain for failing to regulate Wall Street and backing President Bush’s economic doctrine. He also blamed Bush and McCain for the “God-awful economic mess at home and abroad.” Ouch. John McCain got some TV time this morning with CNN too, he backed away from his assertion that “the fundamentals of our economy are strong” after taking heat from the Democrats yesterday, and adjusted his language to say the American worker is the strength of the economy. When asked if Obama’s economic plan did more for the middle class than his own, he said no way Jose.

Our correspondent Candy Crowley will follow Obama today in Colorado where he holds a rally, and then he heads to Beverly Hills later tonight for some serious fundraising. No sign of the “worst financial crisis since the Great Depression” tonight at this swanky fundraising dinner where high rollers will gather to beef up his campaign’s piggybank. Barbara Streisand will even break out in song as Obama expects to rake up millions to keep his campaign machine chugging strong straight through the election.

Meanwhile, Sarah Palin and John McCain team up again in Ohio where both sides are campaigning heavily in this battleground state. This political couple is back on the trail again, I guess two is better than one.

Speaking of battleground states, our correspondent John King reports from Indiana, a state that hasn’t voted for a Democrat in a presidential context since Lyndon Johnson in 1964. Times have changed and this is a red state that Obama thinks he can turn blue. One way the Democrats are trying to do this is by outpacing the Republicans when it comes to registering new voters. John will ink up with some Obama campaign workers as they register first timers, and he also heads to a conservative part of the state to get a sense of the vibe there.

Lastly, we applied the ‘truth squad’ test to McCain/Palin comments last night for those of you who caught that report from Tom Foreman, and this evening, we will do the same for Obama/Biden comments. What have they said, and what is true? Joe Johns will have this story at 10pET.

See you tonight!

Filed under: The Buzz
soundoff (21 Responses)
  1. Heidi Ann Berg

    we can play the blaming game for years.What we need right now is some one to step up to the plate and figure away out of the mess we are in .I don't want to hear about who has done what or who has said what we need solid plane for are future.

    September 16, 2008 at 5:23 pm |
  2. Judi Walker

    The American people are not as stupid as you seem to think. Even though they elected you to the Senate, we all know that the real fault with the economy is the Democratic Senate. I am ashamed to have Harry Ried represent my state of Nevada, and you, Senator Biden should practice telling the truth, not the lies that you are running on.
    I was undecided as to who to vote for until I listened to the way you and Senator Obama attacked her. I guess you guys are really terrified to think of the day she hits Washington D. C. and you guys will no longer be able to pad your checkbooks with our money. Good Luck!
    An American Woman Voter.

    September 16, 2008 at 2:50 pm |
  3. Megan

    I am still sitting on a fence watching everyone fight and argue about this and that, I haven't chosen one side. But I do have to say: I don't care who caused our economy to start falling apart, but whomever takes over needs to start fixing it. And that goes for all those who are going to be and still will be in positions of authority after the election. Every level of gov. should be working on this, and the candidates need to say what the mean and what they are going to do. I'm sick of the smear campaigns. When Meghan McCain said that she thought both sides were running more clean campaigns this time around I almost choked on my food. I really don't like the Republican speeches this year. Gulliani's speech at the Republican Convention was rude and I really disliked him for it. I also don't like many of the comments that are being made by the two presidential (and even vice-presidential) candidates.

    In the end... I really just want to hear more material. Enough smearing and judgment, just give me some information on your goals and lets move on with it already. Who cares that Palin's daughter is pregnant or McCains family has an interestingly rocky history? How bought we focus on issues? I also feel like Biden is being left behind. I watch CNN a lot, and never seem to hear anything about him; only the Republicans make the news because they are loud and bold and its getting old.

    September 16, 2008 at 2:07 pm |
  4. Trish

    I don't understand how 3 senators can place all of the blame for an economic breakdown on one man's shoulders! Each of them have been in Washington and had the opportunity to really make a difference and no examples of that are shining through. This is rediculous. Sometimes these campaigns act as though voters cannot see right through them. I wish just once they would admit that they cannot do it on their own and all of the promises they make are for nothing if they don't work together!
    I find it interesting that Obama's willing to roll-up his sleeves and spend the day in Colorado, but when it comes to money he heads straight to Beverly Hills-doesn't seem like the working man matters too much when it comes to fundraising! Of course, I don't remember him even making a stop in West Virginia during the primary. Interesting that someone running for President of the United States doesn't think they're all equally important.
    Don't worry-Mc Cain can irritate me just as bad.
    Someone just needs to come up with an honest answer and realistic approach to making our country viable again!

    Trish in MO

    September 16, 2008 at 1:58 pm |
  5. jj

    I find it amazing how the comments vary based upon a persons already preconceived notion of who they feel is to blame....

    how is it possible that the republicans are not responsible for the deregulation that has put us in this mess and Bush takes no responsibility for these major events...i.e, the war on terror and this terrible state of the housing market...maybe we can blame Obama because he was not president...

    September 16, 2008 at 1:53 pm |
  6. Paula Lang

    McCain is stealing from Obama 1. First Obama's message was CHANGE, now McCain's is change 2. First Obama used the word ENOUGH, now McCain is using it. 3. First Obama said no Bush Third Term, now McCain is saying No Bush Third Term. 4. Obama wanted a surge, then Bush did one. 5. Obama said he would talk to countries like Iran with no precondition, now Bush has a Diplomacy Office in that country. They steal from Obama and take credit without footnoting him. Now, not only are they liars, but thieves as well. We can't have people with no integrity running our country.

    September 16, 2008 at 1:50 pm |
  7. Shane

    Look again and again, I will say that most people have already made up there minds on the election. I'm certainly not going to be charmed by what biden is saying about republicans or Mccain. I'm democratic minded also and this year I'm definetly voting for republican and i'll explain why. Because even if the democrats win this election, it will be a shame that they would of won it by a hair. This election was suppose to be a landslide for democrats and Obama and the dems blew this election and now there is a good chance that Mccain might actually win??? That means there is something wrong with the democratic message and when Biden or Obama comes on and blames everything on the republicans is the most selfish and selfserving things that you can ever say just to get in the white house? I mean come on, half of the country is not buying this notion that America's condition right now is all the fault of the republican's policies? The dems won majority of the seats in congress and said to themselves we will block everything that Bush does until we elect a democratic president while blaming him for not doin anything? I'm sorry but the people aren't that stupid to notice that there is a " do nothing " congress outhere. Plus, a president dosn't run the economy, people do. Yes the president can help, but congress also has to approve?

    September 16, 2008 at 1:43 pm |
  8. Mrs Ether

    Well, Biden has part of it right. It's not just Bush/McCain it's their Ideology. Take out all over site. Now look what this has done. Food, water and toy posioned, bridges falling down and killing people, now the (Rep P. Gramm re-writting laws for the Housing and Banking market) GOP takes out over site and now we have this mess on Wall Street. Let's not forget that under Reagan, Reagan had to close down the Wall Street for three days because of the same thing. I believe it was called Black Monday.

    September 16, 2008 at 1:31 pm |
  9. Roberta

    It is always my favorite comment when republican supporters point out that the Democrats have a majority in Congress since Nov 2006. First of all, it is a slight majority. It is not a fillibuster breaking majority. We are as always held hostage by the republican minority that cannot compromise on anything. Second, the President has threatened to veto any legislation that he doesn't like (ie. anything that is written by the Democrats). Lets get a Democratic President in the White House, and see how much gets done. We have major problems in this country that need to be addressed.

    September 16, 2008 at 1:29 pm |
  10. Michelle

    Team 360 thanks for being balanced and getting the big
    picture : the economy. There is one criticism though.
    How come there is really anything on the campaign trail
    from Joe Biden. Please show all four of the people on the

    September 16, 2008 at 12:54 pm |
  11. Eugenia-San Francisco, Ca

    I missed the Biden interview, but what I can't seem to understand is that Obama is Live right now and you are not airing it in it's entirety. You know he's actually talking about the issues, the ECONOMY!

    September 16, 2008 at 12:45 pm |
  12. Mindy Chatsworth, Ca.

    The financial experts are putting the blame for this catastrophic mess in the hands of Alan Greenspan and Phil Gramm. You remember Phil Gramm, right? He's the Republican genius who made that infamous statement about Americans being "whiners" because they didn't like the state of the economy. Yes, the same Phil Gramm who has been John McCain's economic advisor. After that verbal gaffe, McCain got rid of him, but it was a formality. If McCain is elected, it will be the likes of Phil Gramm that will be dictating our economic policy. It's McCain who wants to make the Bush tax cuts permanent. You don't need a degree in economics to know that this would be a disaster of epic proportions.

    It's George Bush's tax cuts, skewed heavily toward the top 2% of the wealthiest, that have helped to create this mess. We cannot afford to make these tax cuts permanent. Our economy is self-destructing as we speak. It's greed and deregulation under the EIGHT years of the Bush administration that has brought us to this point. The war in Iraq hasn't helped either, to the tune of billions of dollars spent and no end in sight.

    Anyone here who would dare to blame this mess on Bill Clinton needs to have their head examined. Bill Clinton left this country will virtually full employment, millions of new jobs created and a record SURPLUS. Thanks to Bush and the Republicans, that surplus has now been turned into a record deficit. Well, now the chickens have come home to roost. It's time to reject McCain as just more of the same dreadful, failed economic policies that have gotten us into this disaster. McCain does sound an awful lot like Herbert Hoover, who kept reassuring the people that sunny days were just around the corner. That was in the crash of 1929. We are seeing history repeating itself and it will be the Democrats, as FDR did back then, who will have the unenviable task of getting us out of this horrendous nightmare.

    September 16, 2008 at 11:16 am |
  13. Larry

    Isn't obama supposed to be the economy expert?

    September 16, 2008 at 11:07 am |
  14. Bruce

    Cindy from Ga and Gloria from Texas, you need to get a life and undrstand Bush is responsible for all our economic mess along with the lives loss in his stupid war. McCain will only continue these failed policies and have to deal with his wacky VP as well.

    September 16, 2008 at 11:06 am |
  15. John in New York

    What everybody keeps overlooking is credit card rates, I have never missed a credit card payment in 15 years and my intrest rate went fron 7% to 24.99%. This is what is going to be the downfall of the middle class. I think Joe Biden is in bed with the credit card companies, after all he has had years to do something about it and chose to side with redit card companies.

    September 16, 2008 at 11:03 am |
  16. Clarence, Albuquerque

    I'm glad to see some feedback from those North of our borders... or , I suppose , south of the border if you live in Alaska, Our neighbors in Canada may have insights into Palin we haven't heard.

    September 16, 2008 at 10:33 am |
  17. Heather

    Biden looks like and sounds like a fool. He knows Pres Clinton in Oct of 1999 negotiated a deal with a Republican congress(Sen John McCain) to deregulate our financial institutions. Mr Greenspan publicly encouraged the use of creative and flexible mortgage products. CNN did a special on this. Pres Bush is not at fault or responsible nor is the Dem congress only the congress that voted for deregulation in Oct of 1999 and Pres Clinton and Greenspan.

    September 16, 2008 at 10:32 am |
  18. Gloria in Texas

    Joe Biden blames McCain, come on! Who is the head of the Senate Banking Committee? JOE BIDEN! How come Joe Biden was not aware of what was going on. John McCain isn't involved in that at all. Can you believe this stuff the Democrats are saying? I don't believe anything that Barack Obama says and I am a lifelong Democrat who is voting for McCain this year.

    September 16, 2008 at 10:21 am |
  19. Gary Chandler in Canada

    Palin, the expert on energy, is quoted as saying 20% of oil reserves are in Alaska and it is 3%. Why is it NOT a story that her husband was a Separatist? He signed onto a Party that required 'hate of the American flag!'
    I think there is payola for headline writers!!! do a PROBE

    September 16, 2008 at 9:59 am |
  20. Michelle Fonthill Ont,Canada

    Hello Anderson and staff
    The ecoonmy is taking a downward spiral as the AIG insurance company is now facing trouble of finanaces.How are they going to fix this one? Please one of these candidates has to have a plan in motion to fix the continuing saga of the failed Bush policies that have now started a terrible chain of events.

    Thanks for the buzz
    see you on 360

    September 16, 2008 at 9:56 am |
  21. Cindy

    Biden is fool! Bush had nothing to do with what happened yesterday. If he wants to blame anyone he needs to look at their own man Bill Clinton. He is the one that deregulated the financial institutions allowing them free reign. Bush was no where around then!

    And he can also look at his own party for being in control of congress for two years while all of this was building up yet doing absolutely nothing to keep it from happening! But he'll turn a blind eye to that and still blame the Reps. How ridiculous of a man!


    September 16, 2008 at 9:51 am |

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