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Home > Current Events & Politics > Obama warns of 'on your own' society

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Obama warns of 'on your own' society

March 27, 2008 - 1:15 ET

Presidential candidate Barack Obama, largely ignoring his Democratic rival for now, ridiculed likely Republican nominee John McCain on Wednesday for offering "not one single idea" to help hard-pressed homeowners facing foreclosure.

"George Bush called this the ownership society, but what he really meant was 'you're-on-your-own' society," Obama told a town hall meeting here, tying McCain to a president whose popularity is low. "John McCain apparently wants to continue this."

The Illinois senator touched on some themes he's likely to strike today at 9:15 a.m. ET in what his campaign bills as a major economic address, at New York's Cooper Union.

Tuesday, McCain warned that some proposals for government intervention in the housing crisis would rescue banks and borrowers who acted irresponsibly.

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