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Presidential Candidates Address Economic Woes

Sens. Obama, Clinton Blast Bush for Not Doing Enough to Avert Economic Meltdown

While McCain has focused his campaign on his national security credentials and his position on the war in Iraq, he usually begins his stump speeches talking about the economy, saving the so-called "war on terror" for his big finish.

Earlier this month, McCain addressed the economy and alligned himself with Bush's tax cut remedy, marking a departure from his early opposition to making the Bush tax cuts permanent.

"Our economy is not in the condition we want it to be. Let's have some straight talk," McCain said campaigning in Atlanta March 7.

"I want to assure you that the one thing I do not believe is the way to fix it is to raise your taxes. I think that's the last thing that we should do. It's the last thing we should do is raise your taxes and increase regulation and try to impose big government solutions to it. My friends, we have to make the present … tax cuts permanent."

Voters have cited the economy as their top issue in every Democratic contest so far, except the Iowa caucuses, where it tied with Iraq as the top issue. Taken altogether, the economy is the top issue for 50 percent of voters, with Iraq at 27 percent and health care at 20 percent.

Clinton's top advisers were asked by a reporter today if it was "time to start thinking bigger" and if there were other specific proposals she would put forward now, given the extent of the problems facing the financial markets.

Clinton's top advisers pointed back to her subprime mortgage plan.

"We believe that adoptment - enactment of her plan now would help alleviate the burden and anxiety for homeowners and bring some stability to the housing market," Wolfson said.

"I don't foreclose the possibility that we may be announcing additional measures and steps, and when we have something to announce, we'll definitely let folks know."

ABC News' Kate Snow, Peyton Craighill, Sunlen Miller, Eloise Harper, Bret Hovell and David Chalian contributed reporting.

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