FLORENCE, S.C. -- Republican presidential candidate John McCain Friday blamed overspending by the federal government in part for the nation's economic troubles.

McCain told supporters in Florence, S.C. that he's embarrassed that federal spending is out of control.

The Arizona senator said the economy is not good. He said the stock market is down and indicators are not good.

His comments come as South Carolina unemployment rate for December was announced. The 6.6 percent included the largest single month increase in nearly 20 years.

McCain has voiced concerns about proposals for temporary tax cuts and more spending as suggested by many Democrats and Republicans.

He said those would be an additional strain on resources. McCain yesterday proposed cuts in corporate taxes to encourage growth.