Experts, however, fear that eliminating the tax advantage of employer-based coverage would prompt younger, healthier workers to leave their office plans. If that happened, costs for the remaining workers could skyrocket. Companies may drop coverage altogether.

But the McCain campaign fought back that idea with an even stranger defense:

Younger, healthier workers likely wouldn't abandon their company-sponsored plans, said Douglas Holtz-Eakin, McCain's senior economic policy adviser.

"Why would they leave?" said Holtz-Eakin. "What they are getting from their employer is way better than what they could get with the credit."

Obama campaign spokesman Bill Burton on this stunning admission:

“This morning, the McCain campaign’s top economic policy advisor unleashed an October Surprise of straight talk when he finally admitted that the health insurance people currently get from their employer is ‘way better’ than the health care they would get if John McCain becomes President. Independent studies have shown that under John McCain’s health care plan, at least 20 million Americans will lose the insurance they rely on and be forced to buy health care coverage on the individual market that costs more than $12,000 with a tax credit of just $5,000. Senator McCain has been trying to cover this up for months, but his advisor’s brutal honesty today is certainly better late than never, and it should give every American pause about electing a candidate who has proposed such radical and dangerous changes to our health care system,” said Obama-Biden Spokesman Bill Burton.

I believe that Obama's inspirational leadership, contemplative nature and well-reasoned, forward-looking policies offer our troubled nation a real opportunity to face and overcome its many challenges at home and abroad.

On an array of domestic issues, including health care, education, tax policy, the environment and alternative energy sources, Obama promises a clean break from the recent past and tangible hope for a return to fiscal responsibility, economic security and true environmental stewardship, all of which are essential to restoring our greatness. Now, Obama must be aware of the hopes that he has raised through his discussion of these issues. Many people will rightly take his words as his commitment and will judge him accordingly.

On the international front, his thoughtful and responsible approach to extricating our troops from Iraq, reallocating our finite resources elsewhere in the war on terrorism, and reviving effective use of our diplomatic corps all warrant our support. To be successful in these endeavors, Obama must be an active student of history. In attempting to bring peace to the Middle East, for example, he should recognize that the United States has played a role in the region since Franklin Roosevelt went to Saudi Arabia to meet with King Abdul-Aziz. Obama must appreciate that he is not writing on an empty page and will need to be sensitive to that which has come before him.

Obama represents the better choice to successfully address the issues that dramatically affect the health and well-being of our nation today. The fact that he is also a black American adds special significance for me as someone who was witness to and participated in at least a part of the past century's discourse on civil rights.

Mathias served in the House of Representatives from 1961 until 1969 when he was elected to the U.S. Senate and served until 1987.

Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday. [...]

As Congress investigates the causes and effects of the financial meltdown, the House Education and Labor Committee was hearing from retirement savings and budget analysts on how the housing, credit and other financial troubles have battered pensions and other retirement funds, which are among the most common forms of savings in the United States.

"Unlike Wall Street executives, America's families don't have a golden parachute to fall back on," said Rep. George Miller, D-Calif., the panel chairman. "It's clear that their retirement security may be one of the greatest casualties of this financial crisis."

Yet, John McCain stlil wants to privatize Social Security.

And while Sarah Palin is in Florida promising that John McCain will "protect' entitlement programs, his economic advisers are telling the press that there will be massive cuts into Medicare and Medicaid. Perhaps she hadn't read in the newspapers her what her campaign wants to do just yet.

But Americans are already losing -- their jobs, their homes and their life savings -- and John McCain doesn't want to talk about that. He would rather lose his integrity than lose an election, and will launch more dishonest attack ads about Senator Barack Obama.

In his convention speech last August, Senator Obama said, "this isn't about me. It's about you."

That's what this election is all about -- you -- and John McCain, who is out of ideas, out of touch and running out of time, is desperately trying to change the subject.

It will not work.

"Hello, I'm Howard Dean; Dr. Howard Dean. For too long we've been talking about how to reform our health care system. Today, millions of Americans are struggling to pay for health care, and some 47 million Americans don't have any health care, including nearly 9 million children.

"Senator McCain's answer to the problem is more of President Bush's failed health care policies. Senator McCain is trying to tell Americans that he'll offer them a tax credit to pay for health care, but what he doesn't say is that he'll pay for this plan by actually taxing your health care benefits for the first time ever.

"Senator McCain also wants to do to our health care system what he helped do to our banking system with de-regulation and removing the protections that we rely on. The gamble he wants to take with his risky scheme could force 20 million people out of their current health care, and put the 156 million people who already have employer based health insurance at risk.

"Barack Obama's health care plan is based on commonsense ideas, it builds on the current employer-based system and uses existing providers, doctors and plans. That means that you get to make health care decisions with the doctor you choose.

"Under Senator Obama's plan, if you like your current health insurance, nothing changes, except that your costs will go down by as much as $2,500 per year.

"If you don't like your health insurance, or you don't have any health any insurance, then you will have a choice of new, affordable health insurance options.

"We need a president who will make health care more affordable and more accessible for all Americans, and Barack Obama will be that president."

For an audio version of the statement click HERE.

Watch the latest national television ad entitled, "Can't Explain."

McCain would blow up the current system and ensure that fewer Americans are covered. He wants to eliminate the tax deduction employers get for providing health insurance. Instead, he would give tax credits to individuals and families to make it easier for them to purchase insurance on what he believes will be a new, bigger open market that will compete to lower health care costs. The credits would be $2,500 per individual and $5,000 per family.

There are more components to the McCain plan - portability of insurance from state to state, for example - but none would offset the enormous damage his on-your-own in a wide-open market approach would do.

McCain's "risky" plan would leave the average American family on the hook for thousands of dollars to cover their basic healthcare needs each year.

While the decades-old system of employer-sponsored health insurance has its shortcomings — many small businesses can’t afford to offer it — killing the tax exemption will lead to a stampede of large employers discontinuing their more affordable, group health plans. Those comprehensive plans cost more than $12,000 a year for the average family; with a tax credit of just $5,000, they’d be left to find $7,000 a year to buy comparable coverage. Put simply, the tax-credit scheme won’t work.

And since McCain likes to lie about taxes on the stump and in his attack ads, it is worth noting that McCain recently admitted that his healthcare plan would actually raise taxes on Americans to pay for it.

The text of McCain's call for deregulating health insurance companies follows:

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation." - John McCain

Below are excerpts from the press conference:

Judy Feder, Democratic nominee for US Representative from Virginia's 10th Congressional District:

"We're here today, all of us, to repudiate Senator McCain's call to deregulate the health insurance companies. Senator McCain wrote in this month's issue of an insurance magazine that we should deregulate the insurance companies--and I quote--'as we have done over the last decade in banking.' In other words, John McCain wants to run the health care industry just like they've been running Wall Street--straight into the ground...After risking the American people's retirement and jeopardizing the economic security of our country, now they want Americans to suffer the same uncertainty about their health care...I'm here today, as someone who has spent my life trying to get everybody affordable health care and fix our broken system, and I'm here to say to John McCain: No way.   It's a risk we can't afford."

Barbara Favola, Vice Chair of the Arlington County Board and a member of Virginia's State Health Board:

"The election before us is about choices.  As we stand before John McCain's campaign headquarters and one of his homes, one of his many homes, John McCain's risky health care plan won't do a whole lot to help the people I just talked about...working families need someone who will stand up for them, someone who will tell the oil lobbyists, the insurance companies, and other special interest groups that the average American must come first. Can we trust John McCain to deliver that message? No. On the other hand Barack Obama understands the struggles of working class families. He understands that access to health care is a basic necessity of life and the pursuit of happiness and the American dream really don't happen until these basic necessities are taken care of.  Barack Obama has a package that respects American families that tells them they are valued and helps them provide for their children and their future."

Here’s what McCain has to say about the wonders of market-based health reform:

Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation.

So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago — and promising that if we marketize health care, it will perform as well as the financial industry!

Consider this an open thread. Chat away...

"Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation."

--- John McCain in the current issue of Contingencies, the magazine of the American Academy of Actuaries. 

As part of his record of voting with President Bush more than 90 percent of the time, John McCain endorsed the Bush plan for health savings accounts even though the Wall Street Journal said was "dead-on-arrival in Congress in early 2007." This plan is a radical new scheme to tax health insurance benefits for the first time in history, provide more power to insurance companies, and give families a tax credit that covers only a fraction of average health insurance costs.

"It should surprise no one that President Bush is raising money for the candidate who is promising more of the same failed Bush policies on everything from health care to the economy," said Democratic National Committee spokesman Damien LaVera. "While millions of Americans have lost their health insurance in the Bush-McCain era, John McCain says we're better off than we were eight years ago and that the fundamentals of our economy are strong. No wonder he's promising a warmed over version of the failed Bush plan that won't do anything to help Americans find health care."

Bush-McCain:
More of the Same on Health Care

Under McCain's Plan, Health Insurance Benefits Would be Taxed For The First Time, Resulting In A $3.6 Trillion Tax Increase On Working Families. McCain's health care plan would eliminate the payroll deduction on health care benefits, which would have the effect of raising taxes on working families by $3.6 trillion. [New York Times, 5/1/08]

McCain Health Plan Just Like Bush Plan. "President Bush proposed a similar idea" to the tax credits in McCain's plan, which was dead-on-arrival in Congress in early 2007, because the plan only awarded those who purchased insurance in the private market. [Wall Street Journal, 10/11/2007]

McCain Would Expand Health Savings Accounts. McCain said, "We took an important step in this direction with the creation of Health Savings Accounts, tax-preferred accounts that are used to pay insurance premiums and other health costs. These accounts put the family in charge of what they pay for. And, as president, I would seek to encourage and expand the benefits of these accounts to more American families." [Congressional Quarterly Healthbeat, 4/29/2008]

McCain Supported Bush's Veto of SCHIP and Providing Insurance For Millions of Uninsured Children. McCain voted against reauthorizing the State Children's Health Insurance Program for five years, expanding the program by $35.2 billion. [Senate Vote #307, 8/2/07]

Arizona Republic Headline: "In Tight Senate Votes, McCain Not A Maverick. When It Matters The Most, He Seldom Bucks His Own Party." "Over the years, Sen. John McCain has publicly condemned Republican Party leaders and occasionally voted against the GOP on selected issues. But an Arizona Republic analysis of his Senate votes on the most divided issues in the past decade shows that McCain almost never thwarted his party's objectives." [Arizona Republic, 5/7/08]

McCain: On The "Most Important Issues Of Our Day, I Have Been Totally In Agreement And Support Of President Bush." In a June 2005 interview on NBC's "Meet The Press," John McCain stated that he was a strong supporter of President Bush: "I have agreed with President Bush far more than I have disagreed. And on the transcendent issues, the most important issues of our day, I have been totally in agreement and support of President Bush." [NBC, "Meet The Press," 6/19/05]

McCain Has Voted With Bush 90 Percent Of The Time In The Senate. According to Congressional Quarterly, McCain has voted in support of President Bush's position 90 percent of the time since the beginning of his administration. [Congressional Quarterly, 8/15/08, http://www.cqpolitics.com/cq-assets/cqmultimedia/flash/votestudy/index.html]

My name is Roy Gross. I’m a proud member of Teamsters Local 299 in Detroit, Michigan.

When I was a young man and wanted to start a family, I went to Detroit and landed a job as an automobile transporter. I delivered new cars from the assembly plants to dealerships around the country.

It was a great job, a Teamsters union job. You worked hard and it paid good wages, plus health care and pension. I worked there for 18 years. Working class families were doing well in Detroit until the Bush Administration took office, then everything changed.

Manufacturing jobs were exported by the hundreds of thousands and replaced with minimum-wage jobs in the so-called “New Economy.” I’m one of the lucky ones; I still have a job. But many of my friends and co-workers have lost their jobs and their homes.

If you ask me, this so-called “New Economy” is not working. We need a renewed economy. That’s why I’m seeing so many of my friends in Michigan - Democrats, Republicans and Independents - putting aside their differences to join this campaign.

Barack Obama will enact fair trade policies and work just as hard for us as we work for America. I will do everything I can, from now until Election Day, to put Michigan in the Obama column.

Monica Early, Ohio

I’m Monica Early from Cuyahoga Falls, Ohio. Last January, someone sent me an e-mail containing so-called “facts” about Senator Obama. The e-mail painted a scary picture, questioning his faith and patriotism. I decided to do some fact-checking on my own and learned the truth.

What I discovered is that Barack Obama is a man of faith, a man of values and a man of action—someone who has shown his love for America by fighting for our people, helping communities left behind on Chicago’s South Side, fighting today for working families and the tax breaks we need to purchase a home, pay for college and save for retirement.

I am grateful for the e-mail that tried to scare me. It brought me here, an ordinary citizen, empowered by a leader who told me I could make a difference. Ohio is home to four of the fastest-dying cities in America. John McCain promises to continue the Bush economic policies that got us there.

Einstein said a definition of insanity is doing the same thing over and over again expecting a different result. If we elect John McCain, then, according to Einstein, we surely would be insane.

We need change. We need President Barack Obama!

Wes Moore

Hi, my name is Wes Moore. Twelve years ago, I took an oath on the Bible to defend, support and protect the United States of America. Today, I cannot fathom a more perfect expression of my allegiance as a soldier and citizen than giving my full support for Barack Obama to be my next commander-in-chief.

Before I deployed for Afghanistan, my grandparents gave me a Bible. Inside, they wrote four simple words: have faith, not fear. Those words protected and guided me and the soldiers under my command during some of the most trying days of my life.

I want a president who has a comprehensive strategy for Iraq and Afghanistan, and who can rally young people to serve, both in and out of uniform, and sees these as complementary, not contradictory goals. I want a president who believes in supporting our troops while we are fighting overseas, and supporting us with proper health care and education when we come home.

This election is not about history. Nor is it about making history. It’s about seizing history.

The charge my grandparents gave me—have faith, not fear—is the same challenge I issue tonight. A faith that this nation can rise to meet any challenge.

Tonight, Senator Obama is not asking you to have faith in him. He is asking you to have faith with him. Let’s make Barack Obama our next president.

The Honorable Janet Monacco, Florida

I’m Janet Monaco from Rockledge, Florida, by way of Long Island, New York. Fourteen years ago I moved to Florida to pursue my vision of the American dream. Within five years, I had bought a house and opened two pet stores. I was living well.

Then disaster struck: back-to-back hurricanes, and rising costs of food and gas. Today, I’m a struggling small-business owner who is diabetic and without health insurance. I work 70-hour weeks at the store and more hours in a part-time job and still can’t afford insurance.

I don’t tell this story to get sympathy. Everyone has challenges. But what gets me angry is that George Bush and John McCain have done nothing for people like me—and, in fact, have done plenty of things that make it even harder to get by. Huge tax breaks for those at the top. Looking out for the lobbyists and not the little guy. And billions spent in tax cuts for big corporations, but not enough for small businesses like mine.

I’m supporting Barack Obama, because we can’t afford four more years of the same. Yes, we can make a change!

Nathaniel Fick

Good afternoon. I’m Nathaniel Fick. My Marine platoon landed in Afghanistan on a moonlit night in 2001. A little more than a year later, we rolled into Iraq. I’ll never forget one dawn after a vicious gun battle. We’d just medevaced one of our wounded Marines, and I turned to see a small American flag hanging from a humvee’s antenna. For a second, it reminded me of the line we all know so well: “And our flag was still there.”

I registered as a Republican at 18 and voted for John McCain in 2000. It took seven years of hard experience to get me on this stage. But we cannot afford more of the same. That’s why we need Barack Obama and Joe Biden to lead us beyond the tired divisions of the past. They have the judgment to make the right decisions, leading our military, and uphold our highest ideals.

Everyone who fought in Iraq or Afghanistan has left something: a friend, a limb, a piece of their youth. In those palm groves and on those ridge lines, this is personal for us. I don’t want to retreat; I want to win.

The past seven years have been hard, often heartbreaking. Our flag, however, is still there. Let’s move forward in our quest to live up to the idea of America.

Teresa Brito-Asenap, New Mexico

Buenas noches, good evening.

I am Teresa Brito-Asenap from Albuquerque, New Mexico. The first nine years of my life my grandparents worked with me to study and learn. They always talked about the importance of education. But it was not until third grade that I realized that mi abuelita, my grandmother, could neither read nor write.

But because of them, today I hold a doctorate in education. I owe them and my parents everything. Strong families raise strong students. All they need are world-class schools and dedicated teachers. Yet because of George W. Bush and John McCain, our schools don’t have the resources they need to meet the high standards of No Child Left Behind.

We don’t need four more years of the same. We need to turn the page and put our kids at the head of the class. Barack Obama will invest $10 billion a year in early education funding and give any student who wants to go to college a $4,000 tax credit. That’s the change we need and the change Barack Obama will bring as president of the United States.

Arriba y adelante – si se puede!

Pamela Cash-Roper, North Carolina

I’m Pam from Pittsboro, North Carolina. Wait till you hear what’s happening to me.

You might find my story familiar. Maybe it’s happening to you.

My husband, Keith, and I used to have a modest home we could afford, cars, money in a 401(k) plan, health insurance, and our health. We educated ourselves, got good jobs with benefits, worked night and day, raised four happy children, and saved some money.

It was the American dream. We did everything we thought you were supposed to do to live it. We really felt America was working for us.

Then, eight years ago, our American dream turned into a nightmare. Keith needed open-heart surgery. He lost his job and with it the family’s health insurance. I couldn’t afford to pay for health insurance on my nurse’s income, so we don’t have any.

Having no health insurance works – as long as you stay healthy.

Five years after Keith’s surgery, I had a quadruple bypass, and our medical expenses grew.

I’m a lifelong Republican who voted for Nixon, Reagan, Bush, and Bush. But I can’t afford four more years like this.

That’s why I am supporting Barack Obama as my president.

Barney Smith, Indiana

My name is Barney Smith.

For most of my life, I was a proud Republican.

Growing up in the Indiana heartland, America was a place of boundless opportunity. You could go to the town factory and get a job the same day. You could start a family and buy a house with your salary.

My father started at Marion’s RCA plant in 1949, manufacturing picture tubes for TV sets.

I started in 1973. My wife worked in a high school cafeteria. Together, we made a living and raised a family.

Then, in 2004, the plant closed. Today, a foreign worker does my job.

After 31 years, I received 90 days’ severance pay and was unemployed.

Thirteen months later, I got a job at a distribution center.

Republicans talk about putting “country first,” but tell that to Marion, Indiana. They sent my job overseas.

America can’t afford more of the same. We need a president who puts the Barney Smiths before the Smith Barneys.

I’m going to put country first by voting Barack Obama for president.

The heartland needs change. And with Obama, we’re going to get it.