WASHINGTON, US - REPUBLICAN White House hopeful John McCain and Democratic rival Barack Obama on Monday squared off in a fierce new campaign offensive on the economy, the election-year issue most troubling to voters.
Mr McCain vowed in excerpts of a speech he was to give in Colorado later that Americans would triumph over 'tough' times but said his opponent's plans would raise taxes and so 'destroy' jobs, as he laid out a his 'jobs first' strategy.
Mr Obama's camp meanwhile accused Mr McCain of extending what he sees as President George W. Bush's failed policies, as both men tried to connect with voters spooked by a housing crisis, soaring energy costs and grim unemployment data.
Senator McCain was also reportedly set to promise he would balance the US federal budget in four years, the Politico website reported.
In his released remarks Mr McCain blamed both Congress and the Bush administration for failing to stem government spending.
'Americans are having a tough time, but we've been through worse, and beaten longer odds,' Mr McCain said in portions of the speech released by his campaign.
'Even in these difficult days, we must believe in ourselves ... we've always been the captains of our fate.'
'All you've ever asked of government is that it stand on your side, not in your way.
'I intend to do just that: to stand on your side; to help business and not government create jobs; to fight for your future and not the personal ambitions of politicians and bureaucrats.'
Mr McCain argued that Obama's healthcare proposals would hurt small businesses which he said were the engine of the economy, and pledged more tax relief to families and to expand markets for US exports.
Again defending free trade, which many Americans in struggling rust-belt states blame for sending US jobs overseas, Mr McCain announced plans for retraining and compensation for laid-off workers.
'I understand that free trade is not a positive for everyone,' Mr McCain said.
The Obama campaign, which has for weeks been accusing Mr McCain of lacking knowledge on the economy, did not wait for Mr McCain to give his speech before mounting a counter-attack.
In a memo leaked to Time magazine on Sunday, his team accused Mr McCain of wanting to pursue four more years of what he sees as Bush's failed economic policies.
'The McCain plan does not address the immediate challenges facing our economy, like the 438,000 jobs that have been lost in the past six months, the 400 per cent increase in the cost of gas at the pump, and a massive contraction in the housing market,' the memo said.
'The McCain plan offers no hope of relieving burdens for middle-class families struggling with wages that have been stagnant for a generation.'
Recent opinion polls show that the economy is the top issue pre-occupying voters.
A CNN/Opinion Research survey last month found that 58 per cent of Americans thought the economy was extremely important, compared to 50 per cent who thought that Iraq was extremely important.
Economic woes are especially vexing in key battleground states like Ohio and Pennsylvania, which have lost tens of thousands of jobs in recent years.
Neither candidate appears to have yet carved out a decisive edge on the economy, and both are expected to hammer the issue in the run-up to November's election. -- AFP
