Obama: Bailout Likely to Delay Spending Programs

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Washington (AP) Democratic presidential candidate Barack Obama says the prospect of a massive government bailout of the financial industry means that he probably would have to delay the spending programs he has called for during his campaign.

Obama said he would likely have to phase in those programs, telling NBC's “Today” show in an interview aired today that the nation's tax revenues would play a role in any budget decisions.

The Illinois Senator has proposed ambitious and expensive initiatives aimed at health care, education, energy and other concerns. He wouldn't say what proposals might be delayed first.

Obama issued a new TV ad that claims republican rival John McCain protected tax breaks for corporations that hide profits offshore.

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