McCain, Obama Outline Dueling Economic Plans

John McCain and Barack Obama drew clear battle lines yesterday over a central election issue—the sputtering economy. McCain promised to boost the economy with tax cuts and reduced regulation, while Obama set out a strategy to help the hard-hit poor and raise taxes on the rich, reports the Washington Post.

The rival plans conform to the pair's respective party lines—and both invoked the names of earlier presidents. "I've said John McCain is running to serve out a third Bush term, but when it comes to taxes, that's not being fair to George Bush," Obama said. McCain went a little further back, saying it seemed as if Obama was "running for Jimmy Carter's second term."