Jerry Estill, Associated Press Writer, says that Sen. Barack Obama blamed Washington and his Democrat and Republican rivals for the nation's economic woes on Wednesday, one day after racking up big primary victories. Sen. Hillary Rodham Clinton courted Texas voters, counting on the state to help her faltering candidacy rebound.
"We are not standing on the brink of recession due to forces beyond our control," Obama said in excerpts of a speech at a General Motors plant in Janesville, Wis. "The fallout from the housing crisis that's cost jobs and wiped out savings was not an inevitable part of the business cycle. It was a failure of leadership and imagination in Washington."
On Tuesday, General Motors Corp., reported the largest annual loss ever for a U.S. automotive company — $38.7 billion in 2007. The loss largely was due to a third-quarter charge related to unused tax credits. Separately, GM was offering a new round of buyouts to 74,000 U.S. hourly workers.
Obama offered a litany of problems associated with Washington, where he has been a senator since January 2005.
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