Obama Plan Includes Freeze on Foreclosures

Plan would ease borrowing from retirement accounts
By Harry Kimball,  Newser Staff
Posted Oct 13, 2008 3:49 PM CDT
Obama at the convention center.   (AP Photo)
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(Newser) – Barack Obama detailed an economic rescue plan today that includes incentives for job creation and a federal credit line for state and local governments, the Toledo Blade reports. Playing to voters in hard-hit Ohio as he preps for Wednesday's debate, Obama said, "I won’t pretend that this will be easy. We’re going to have to attach priorities."

Obama urged Congress to act on the plan as quickly as possible, likely after the election, the Washington Post reports. A McCain spokesman criticized the plan as too expensive, saying, “Raising taxes on the American people and American business will have a devastating effect.” Obama also floated the possibility of increased aid to the auto industry and the consumer credit market.