August 29, 2008
In city, Obama talks economy, praises Bloomberg
Democrat Barack Obama swept into Manhattan yesterday with
a stern message about stricter government regulation on Wall Street - and some sweet talk for Mayor Michael Bloomberg, whose presidential endorsement is still up for grabs.
Obama, who delivered an economic address at Cooper Union, gushed about the billionaire mayor's "extraordinary leadership," praised his controversial congestion pricing plan as "thoughtful and innovative" and proclaimed him "a major voice in our national debate."
The Illinois senator even asked Bloomberg - who announced last month that he would not run for president - to review the speech and introduce him yesterday. Before his remarks, Obama joked about why he picked up the tab when the two had breakfast at an Upper East Side coffee shop last November.
"The reason I bought breakfast is because I expect payback for something more expensive," Obama quipped. "I'm no dummy."
The mayor had flirted with an independent presidential bid for months and spent millions on polling to gauge his chances.
Last month he announced he would not run and dangled his endorsement instead. He has said that a candidate's commitment to bipartisanship would be the biggest factor in his decision.
"At a time when Washington is divided into old ideological battles, he shows us what can be achieved when we bring people together to seek pragmatic solutions," Obama said of Bloomberg. "Mr. Mayor, I share your determination to bring this country together."
He also told WNYC Radio that he supports Bloomberg's congestion pricing proposal. The plan to charge motorists $8 to enter Manhattan below 60th Street weekdays from 6 a.m. to 6 p.m. must be approved by the City Council and State Legislature by April 7.
Meanwhile, Bloomberg played coy, reminding the audience and Obama that his support was still in play. "As you know, I have not yet endorsed a candidate for president," Bloomberg said, adding that he did not necessarily agree with the whole of Obama's economic plan.
In the address, Obama called for a $30-billion stimulus package, increased oversight on institutions that borrow money from the government, and a simplification of the hodgepodge of regulatory agencies with "overlapping and competing" concerns.
Obama outlined six "core" principles he would follow as president to restore the economy but said the details should be developed through sound analysis and public debate. "So I won't try to cross every 't' and dot every 'i' in this speech," he said.
Rival Hillary Rodham Clinton answered with a proposal for a $2.5-billion new job retraining program, according to The Associated Press. Her aides accused Obama of offering up "vague principles" or copying ideas Clinton had already proposed.
Copyright © 2008, Newsday Inc.
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