Fiorina: Obama Policies Could Cause Depression

Posted July 28, 2008 at 10:13am

A top aide to presumptive Republican presidential nominee Sen. John McCain (Ariz.) today suggested that his opponent’s economic proposals could send the United States into an economic depression.

Former Hewlett-Packard Chief Executive Officer Carly Fiorina, in a conference call with reporters, said the Great Depression of the 1930s was just a recession until the United States raised taxes and instituted protectionist trade policies. This, she said, is exactly what presumptive Democratic nominee Sen. Barack Obama (Ill.) plans to do.

The Obama campaign today is touting its candidate’s renewed focus on the economy following his return from the Middle East and Europe, scheduling a meeting between Obama and his economic advisers for Monday afternoon. Obama says he would provide tax relief for the middle class and promote “fair trade.”