Advisors: McCain plan would help economy

A group of North Carolina supporters of John McCain argued today that his policies would help with the current problems in the financial industry.

On a conference call with reporters this morning, the Republican presidential candidate's senior policy advisor, Nancy Pfotenhauer, UNC-Wilmington professor J. Edward Graham and Charlotte businessman Mark Erwin said a combination of lower taxes, reduced spending and more free trade would help the economy recover.

Pfotenhauer attacked Democrat Barack Obama for not offering more specifics in his proposals for handling recent problems with Freddie Mac, Fannie Mae and AIG. She said he offered only "rhetorical pablum."

"It's like saying you're for puppies, kittens and sunshine," she said.

Erwin, a former supporter of Hillary Clinton who endorsed McCain in August, said Obama's plan for a tax hike on the highest income earners and a middle class tax cut would stifle the economy, since it would hurt taxpayers who are "creating the jobs and generating the wealth."

"As I try to understand Senator Obama's economic plan, it seems to be designed for those people who failed math in school," he said.

More after the jump.

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Later in the call, Erwin criticized Obama for his ties to Franklin Raines, the former chief executive officer of Fannie Mae, and Jim Johnson, who received a loan from troubled subprime mortgage lender Countrywide.

The Washington Post reported in July that Raines had given advice to Obama's campaign on economic matters, but both he and the Obama campaign have since said that he was not an advisor.

Graham, one of seven economists who signed a petition for McCain, spoke up.

"Someone suggested Franklin Raines is a criminal," he said.

Erwin quickly disagreed.

"That's not me," he said. "I don't call people criminals."