Obama warns of ‘on your own’ society

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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