5 days to first debate, Obama climbs in polls

McCain on the defensive
Obama has put McCain on the defensive by targeting some states that have been easy wins for Republicans in recent presidential elections. McCain's political director said Saturday the Republican nominee is increasing staff levels in North Carolina to defend a state that has not gone Democratic for more than three decades.

Obama's rise coincided not only with the financial meltdown but with his own more aggressive campaign stance.

"His solution was to blame me for it," Obama said Saturday, referring to the economic crisis. "I would say Sen. McCain is a little panicked."

The Democrat also criticized McCain's ties to lobbyists and his support for partial privatization of the Social Security pension system, and noted that McCain wrote in a trade publication that opening the health insurance market to more vigorous competition nationwide, as was done with the banking industry, would provide more choices.

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

But Obama's characterization was a politically charged oversimplification of McCain's article for the American Academy of Actuaries. In the article, McCain wrote that people should be allowed to buy health insurance across state lines.

Deal may take more time
Obama's comments came as Bush defended a proposed multibillion dollar financial bailout designed to rescue struggling markets. The bailout will allow the government to buy $700 billion in toxic mortgages now held by financial institutions and would be the biggest government bailout since the Great Depression.

The White House had hoped for a deal with Congress by the time markets opened Monday, but Paulson's remarks suggested it could take more time.

The market fell steeply last Monday in response to the bankruptcy of storied Wall Street investment bank Lehman Brothers, the decision of a second powerful investment house Merrill Lynch to sell itself at a fire-sale price, and the Federal Reserve's intervention in insurance company American International Group Inc.

But Wall Street enjoyed a huge rally Friday after the government said it was creating a plan to rescue troubled U.S. banks from their souring debts. If such a plan is put in place, it could help alleviate the uncertainty that has been sending the markets into tumult over the past week.

McCain had a campaign stop slated in Baltimore, Maryland, on Sunday, while Alaska Gov. Sarah Palin, his vice presidential running mate, was to hold a rally in Florida.

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