As we help homeowners to avoid the worst, moreover, we must also act to protect investors -- especially those relying on their investments for retirement. Current rules mandate that investors must begin to sell off their IRAs and 401Ks when they reach 70 and one half. Those rules should be suspended, so that investors aren't forced to sell their stocks at just the time when the market is hurting the most.
The response from Senator Obama to my Homeownership Resurgence Plan was typical of his response to the entire crisis. First, Senator Obama tried to claim that it was really his idea. But if anyone believed that claim, they didn't believe it for long because the very next day Senator Obama and his campaign attacked my plan to stabilize mortgages. He claimed that the cost of the plan would place a burden to taxpayers -- this from the same guy who plans to increase federal spending by 860 billion dollars. In reality, the money will come from funds already committed under the rescue package passed by Congress. The funds aren't new, but the priorities will be when we put the financial strength of our government back on the side of working families.
My fellow Americans, Washington is on the wrong track, and even greater financial troubles lay ahead if we don't act quickly. The tax-and-spend policies of Barack Obama will only make matters worse. But if you give me the chance, I'm going to set it right. You don't have to hope that things will change when you vote for me. You know things will change, because I've been fighting for change in Washington my whole career. I've been fighting for you my whole life. That's what I'm going to do as President of the United States. Fight for you and put the government back on the side of the people.
Thanks for listening.