Prometheus 6

McCain Health-Care Article Fuels New Clash Over Economy
By Dan Balz
Washington Post Staff Writer
Sunday, September 21, 2008; A07

JACKSONVILLE, Fla., Sept. 20 -- An article about health care published in an obscure journal led to a new skirmish Saturday between the campaigns of Democrat Barack Obama and Republican John McCain over who should be trusted with the ailing economy.

The article included a favorable reference to banking deregulation that, in light of this week's near-meltdown in the financial industry, provided an irresistible target for Sen. Obama's campaign and once again put Sen. McCain on the defensive. McCain's campaign accused Obama of manufacturing an attack by deliberately misreading the Republican's words.

The article, which appeared under McCain's name, was published in Contingencies magazine, which is produced under the auspices of the American Association of Actuaries. In it, McCain touted his plans for increasing competition in health care as one way to expand coverage and reduce costs.

McCain wrote, "Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

Obama, appearing at Bethune-Cookman University in Daytona Beach, mocked his rival for sounding out of touch at a time when Washington is moving rapidly to re-regulate the financial industry to curb the excesses that put the system into near-paralysis this week.

"So let me get this straight -- he wants to run health care like they've been running Wall Street," Obama told the audience. "Well, Senator, I know some folks on Main Street who aren't going to think that's such a good idea."