Obama: US cannot afford McCain's 'erratic leadership'

America cannot afford the "kind of erratic and uncertain leadership" offered by John McCain, his Democratic rival Barack Obama said today.

As the global financial crisis continued to dominate the election, Mr Obama criticised the Republican's "shifting positions" and attacked Mr McCain's new plan for a $300bn (€219.4bn) programme for the US government to buy up bad home mortgages.

Mr Obama said it was "just the latest in a series of shifting positions that Senator McCain has taken on this issue and just about every issue".

He was speaking to a crowd of thousands at a baseball stadium in Dayton, Ohio, at the start of a two-day bus tour of the key battleground which is a must-win state for Republican Mr McCain.

Mr Obama said his rival's plan "would guarantee that American taxpayers lose by handing over $300bn to underwrite the kind of greed and irresponsibility on Wall Street that got us into this mess".

"His first response to the housing crisis in March was that homeowners shouldn't get any help at all," the Illinois senator said.

"Then, a few weeks ago, he put out a plan that basically ignored homeowners.

"Now, in the course of 12 hours, he's ended up with a plan that punishes taxpayers, rewards banks and won't solve our housing crisis."

He went on: "This is the kind of erratic behaviour we've been seeing out of Senator McCain.

"You remember the first day of this he came out and said the economy was fundamentally sound; then two hours later he said we were in a crisis.

"I don't think we can afford that kind of erratic and uncertain leadership in these uncertain times.

"We need steady leadership in the White House. We need a president we can trust in times of crisis, and that's why I'm running for president of the United States of America."

He added the US could steer itself out of the crisis because he believed in the American people and the country.

"In each moment we have risen to beat these challenges," he said.

"Not as Democrats, not as Republicans, but as Americans with resolve, with courage, with that fundamental belief that here in America our destiny is not written for us but it's written by us."

Mr Obama leads by four points in the Midwest state of Ohio, which is seen as a microcosm of modern America, and special attention will be paid to the south east of the state, which often predicts the next president, on November 4.

Nationally, the Democrat has established a lead of more than five points, largely thought to be caused by Mr McCain's stumbling response to the economic crisis in recent weeks, the latest average of polls by RealClearPolitics.com showed.

Speaking at a town-hall style meeting in Waukesha, Wisconsin, Mr McCain continued his attacks on Mr Obama by comparing his rival's healthcare plan to the NHS system in England.

"Senator Obama said his goal is a single care system where government is in charge of healthcare," Mr McCain said.

"If you like that, go to Canada and go to England and see what kind of healthcare system they have."

Turning to Mr Obama's economic record, Mr McCain said his rival "did not lift a finger" to try to reform US mortgage giants Fannie Mae and Freddie Mac.

"I've seen the corrupt ways in Washington and I've taken them on time after time," the Arizona senator said.

"Senator Obama has never taken on the leadership of his own party, and that's a fact."

The Republican's attacks at the meeting, where Mr McCain was in close proximity to his audience who do not tend to respond well to negative personal attacks, focused on policies and records.

But in an advert released by the McCain campaign earlier, the Republicans continued to link Mr Obama with domestic terrorists as the narrator said: "Barack Obama. Too risky for America."

Last weekend, Mr McCain's running mate Sarah Palin, who was on stage with him in Wisconsin, said Mr Obama saw America as so imperfect "that he's palling around with terrorists who would target their own country".

The accusations relate to Mr Obama's association with 1960s radical Bill Ayers, a founder of the Weather Underground whose members were blamed for several bombings when Mr Obama was a child.

The Democrat has denounced Ayers' radical views and activities and there is no evidence they "pal around".