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International economic summit planned

WASHINGTON, Oct. 18 (UPI) -- U.S. President George Bush, flanked by the presidents of France and the European Commission, announced plans Saturday for an international economic summit.

Bush spoke at Camp David, the presidential retreat in Maryland, saying he wanted both developed and undeveloped countries at the meeting, The New York Times reported.

"For this meeting to be a success we must welcome good ideas from around the world," he said.

President Nicolas Sarkozy of France and EC chief Jose Manuel Barroso said the global economic downturn gives leaders a chance to increase international financial oversight.

"Together we need to rebuild a capitalism that is more respectful to man, more respectful to the planet, more respectful to future generations and be finished with a capitalism obsessed by the frantic search for short-term profit," Sarkozy said Friday.

No date has been set for the summit. The proposal has been compared to Bretton Woods, the international meeting at a New Hampshire mountain resort in 1944 that led to the creation of the International Monetary Fund.

Obama addresses huge rally in Missouri

ST. LOUIS, Oct. 18 (UPI) -- Democratic U.S. presidential nominee Barack Obama addressed a huge and enthusiastic crowd Saturday at the St. Louis Arch.

The Secret Service estimated 80,000 people were at the event, while St. Louis police said 90,000 were on the grounds of the Arch and more than 10,000 just outside, the St. Louis Post-Dispatch reported. The crowd was the biggest at an Obama rally in the United States, although more people gathered in hear him in Berlin.

In a 40-minute speech, Obama broke no new ground, bringing up familiar themes on the economy and taxes. He warned Democrats against being smug about the party's lead in the polls.

Like his Republican rival, John McCain, Obama is targeting states such as Missouri that neither candidate appears to have locked up. On Friday, he visited Roanoke, Va.

Voters interviewed at the rally by the Post-Dispatch said they were committed to Obama and are now trying to convince any doubters they know.

"It's so wonderful to see the diversity," Eileen Edelman said. "I think we are all experiencing a special moment."

McCain hammers Obama on taxes

CONCORD, N.C., Oct. 18 (UPI) -- Republican presidential nominee John McCain focused on his Democratic rival's tax plan Saturday, accusing Barack Obama of plotting to redistribute wealth.

McCain pitched his points at rallies in North Carolina and Virginia, The Chicago Tribune reported. He also hammered Obama on taxes in his weekly radio message.

"You might ask: How do you cut income taxes for 95 percent of Americans, when more than 40 percent pay no income taxes right now? How do you reduce the number zero?" McCain told supporters in Concord, N.C. "Well, that's the key to Barack Obama's whole plan: Since you can't reduce taxes on those who pay zero, the government will write them all checks called a tax credit."

McCain is targeting states that once seemed comfortably Republican where recent polls show the vote leaning to Obama or too close to call.

"Joe the Plumber" -- Joe Wurzelbacher of Ohio -- resurfaced in McCain's radio speech. McCain congratulated him for forcing Obama to come clean about his tax plan.

Obama has said he plans to roll back the Bush tax cuts for those with incomes of more than $250,000, while reducing taxes for those making less.

Powell to denounce Obama attacks

WASHINGTON, Oct. 18 (UPI) -- Former U.S. Secretary of State Colin Powell is widely expected Sunday to denounce the personal attacks against Democratic presidential nominee Barack Obama.

Powell, a Republican and friend of Republican presidential nominee John McCain, is appearing Sunday morning on NBC's "Meet the Press" program. His appearance has sparked rumors the former chairman of the Joint Chiefs of Staff is going to endorse Obama, over his longtime friend McCain.

The Daily Telegraph reported Saturday that Col. Lawrence Wilkerson, Powell's former chief of staff, said his ex-boss was "upset" by the "vitriol, bile and prejudice" aimed at Obama on the campaign trail.

"We've talked about this and I know it really bothers him and I'd expect him to talk about it," he said.

Wilkerson said Powell would likely make an endorsement now that the third and final presidential debate behind the candidates.

"He likes to make his decisions at the 60 percent point in terms of information and timing. Most people make a decision too quickly or too late, on the basis of too little information or having waited for all the information they are a day late and a dollar short," he said.