Monday Morning from the Campaign Trail: Economic Plan vs. a New Speech

This morning, the state of the campaign further clarified. U.S. Sen. Barack Obama is set to unveil an economic recovery plan targeting the middle class and, US Sen. John McCain's campaign, which had been discussing unveiling a new economic plan - as many Republicans wanted him to do - will instead press reset on their rhetoric.

Obama's press release on today's policy address:

Today in Toledo, OH, Senator Obama will deliver a major policy address to lay out his economic rescue plan for the middle class. Our economy is facing its greatest uncertainty in over 70 years, we have lost 760,000 jobs this year and the unemployment rate is expected to reach 8 percent. Families, who saw their incomes decline by $2,000 in the economic "expansion" from 2000 to 2007 now risk seeing deeper income losses. Retirement savings accounts have lost $2 trillion. Millions of homeowners who played by the rules have seen their housing values plummet and are having a hard time making their mortgage payments. And credit markets are nearly frozen, preventing businesses large and small from accessing the credit they need to meet payroll and create jobs.

An excerpt, courtesy of Politico.com, from McCain's new speech:

"Let me give you the state of the race today. We have 22 days to go. We’re six points down. The national media has written us off. Senator Obama is measuring the drapes, and planning with Speaker Pelosi and Senator Reid to raise taxes, increase spending, take away your right to vote by secret ballot in labor elections, and concede defeat in Iraq. But they forgot to let you decide. My friends, we’ve got them just where we want them.

"What America needs in this hour is a fighter; someone who puts all his cards on the table and trusts the judgment of the American people. I come from a long line of McCains who believed that to love America is to fight for her. I have fought for you most of my life. There are other ways to love this country, but I’ve never been the kind to do it from the sidelines." 

The directions these two campaigns are taking today couldn't be more different, with McCain's new speech calling Obama presumptuous, but shying away from policy prescriptions. Obama today, on the other hand, looks to be getting specific on the economy. Republican politicos have been looking for a retool from the McCain camp that better dealt with the economy. Time will tell if they like what they see.