McCain, Obama offer economy ideas

October 10, 2008 2:01:33 PM PDT
John McCain and Barack Obama continue to offer ideas to bolster the economy as plunging stock prices feed voter anxieties. McCain today focused on elderly investors who may be forced to take a big hit when they have to liquidate their retirement accounts. Speaking in Wisconsin, the Republican says the requirement that investors start selling stocks in those accounts when they reach 70 and a half should be suspended.

It's McCain's second proposal addressing economic matters this week. At Tuesday night's debate, he called for the government to buy bad mortgages and renegotiate them so stressed homeowners can avoid foreclosure.

Meanwhile, Obama says he's in favor of extending a tax break that allows small businesses to write off the cost of many new investments immediately. He says that would help both protect and create jobs. Aides say Obama also wants to extend the Small Business Administration's disaster loan program to help business cope with the credit freeze.

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