Obama praised the Bush administration’s decision to sell $6 billion in military equipment to Taiwan. A statement from Obama’s national security spokesman said Obama views the package as an “important response to Taiwan’s defense needs.” On Tuesday, McCain criticized the deal for not including submarines or new F-16 aircraft.
MORTGAGE PLAN: Sen. John McCain (R-AZ) discussed his “Homeownership Resurgence Plan” in a speech in Pennsylvania on Wednesday.
Sen. Barack Obama (D-IL) opposes such a homeowner rescue program. His economic adviser said the plan would benefit poorly run financial institutions at the heart of the current crisis and added: “any rescue plan must protect taxpayers and ensure that they share in any profit once the economy recovers.”