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Debate: Obamanomics vs. McCainomics

When it comes to the economy, which presidential candidate is the best man for the job? Advisers for John McCain and Barack Obama appeared on CNBC to go head-to-head on politics, economics and trade.

Politics & Trade

“If you look back at the record, you’ll see that Senator Obama has been very consistent in what he said...First, he does believe in the importance of liberal trade policies…Second though, he said that we need to have a set of trade policies that work for all Americans.”

- Daniel Tarullo, Obama Senior Economic Adviser

“Barack Obama has been anything but consistent. His comments have been all over the board, including saying that Nafta has been devastating, including saying that it was a huge mistake, including saying that…if the other parties aren’t willing to renegotiate, that we’re going to unilaterally opt out. That sent shivers down the spine of not just U.S. trade policy people…but also folks all around the world.

- Rob Portman, McCain Supporter & Former Office of Management & Budget Director

Politics, Foreign Policy & Energy

“Last month about 60 percent of our trade deficit was due to oil, and one thing that John McCain is proposing—that is critically important to our economy and also to trade and to improving our trade balance—is to make us less dependent on foreign oil…He’s talking not just about alternative fuels…but he’s also talking about the need to move to nuclear power, the need to be sure we’re developing our own resources here, including off the coast where most of our resources are, and he’s also talking about using coal.”

- Rob Portman, McCain Supporter & Former Office of Management & Budget Director

“Senator Obama states what it is that he believes and what’s best for the country. That’s what he’s done with trade, that’s what he’s done with foreign policy. I think this notion that he’s a protectionist is this kind of labeling. It’s not protectionist to try to take care of Americans when you’re doing trade negotiations.”

- Daniel Tarullo, Obama Senior Economic Adviser