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Obama Says Congress Likely Will Pass Economic Bailout Plan

  • VOA News

Democratic presidential candidate Barack Obama says he believes Congress will eventually pass a 700 billion-dollar financial bailout plan, although it did not pass the House of Representatives.

He told supporters in Colorado on Monday that he had spoken with U.S. Treasury Secretary Henry Paulson, House Speaker Nancy Pelosi and other lawmakers about what action should be taken next to save the ailing economy.

Obama blamed the economic troubles on what he called an irresponsible philosophy that has given more wealth to the rich in the hopes that prosperity would trickle down to the poor.

He said his rival, Republican Senator John McCain, has followed the philosophy of the Bush administration by calling for less economic regulation.

Earlier today, McCain told supporters in Ohio that Obama's economic policies will deepen what McCain called the country's "recession." McCain said he was acting in taxpayers' interests when he went to Washington last week to join discussions on the bailout plan.

Obama was also part of the economic talks at the White House Friday.

Voters go to the polls November fourth to pick the successor for President George Bush, who leaves office in January after two terms. National polls show Obama with a slight lead in the race for the White House.

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