President Barack Obama accused Republicans of clinging to economic policies that preceded the Great Depression and the more recent economic downturn, accusing his rivals of showing signs of “madness.”

Raising campaign cash in Maine, Obama said Republicans want to return to economic policies that would let Wall Street play by its own set of rules and allow insurance companies to roll back health coverage.

“We won’t win the race for new jobs and new businesses and middle-class security if we cling to this same old, worn-out, tired `you’re on your own’ economics that the other side is peddling,” Obama said.