Obama Pitches Strict Regulations, Clinton Stresses Job Training in Dueling Economic Plans
March 27: Barack Obama speaks in the Great Hall of New York's Cooper Union school. (AP Photo)
The Democratic candidates offered competing plans to lift the sagging economy Thursday, with Barack Obama calling for taxpayer relief and tougher government regulations and Hillary Clinton calling for a sweeping government-backed job training program.
Clinton, speaking at a community college in Raleigh, N.C., bashed GOP nominee-in-waiting John McCain, saying the Arizona senator is unable to handle an economic emergency.
“The phone is ringing, and he would just let it ring and ring,” Clinton said, echoing the “3 a.m. phone call” TV ad she used earlier to suggest she was more qualified than Obama to handle a national security crisis. This time, she chastised McCain for opposing government intervention in the nation’s credit and mortgage crisis.
In her plan, she proposes $2.5 billion per year to help workers train for new jobs and improve skills for existing jobs.
“We may be competing in a new global economy, but our policies to equip American workers for the 21st century are stuck back in the 20th century,” she said.
Meanwhile, Obama said in New York City that the government must revive the economy by tightening regulations and reforming its own agencies to adjust to the realities of modern finance.
In a speech billed as a major address, the Illinois senator said most experts agree the U.S. economy is in a recession.
“To renew our economy — and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again — we need to address not only the immediate crisis in the housing market; we also need to create a 21st century regulatory framework, and pursue a bold opportunity agenda for the American people,” Obama said.
“We do American business — and the American people — no favors when we turn a blind eye to excessive leverage and dangerous risks,” he added.
The presidential candidate spoke not far from Wall Street, hard hit by the mortgage meltdown and credit problems.
To fix the economy, Obama proposed relief for homeowners and an additional $30 billion stimulus package to address the nation’s economic woes. He also called for a $1,000 tax cut for “working families.” Working families received tax cuts under the 2001 and 2003 cuts proposed by President Bush and passed by Congress. Those are scheduled to expire in 2011.
“If we can extend a hand to banks on Wall Street, we can extend a hand to Americans who are struggling,” he said.
New York Mayor Michael Bloomberg, the almost candidate, introduced Obama but stopped short of an endorsement.
In bemoaning the nation’s economic woes, Obama too dismissed McCain’s approach as too hands-off.
On Tuesday, McCain derided government intervention to save and reward banks or small borrowers who behave irresponsibly. Obama said McCain’s plan “amounts to little more than watching this crisis happen.”
McCain fired back even before Obama took the stage, saying he has proposed reforms to prevent systemic risks and a repeat of the credit crisis.
“However, what is not necessary is a multi-billion dollar bailout for big banks and speculators, as Senators Clinton and Obama have proposed. There is a tendency for liberals to seek big government programs that sock it to American taxpayers while failing to solve the very real problems we face,” McCain said.
Obama said the next president should:
–Expand oversight to any institution that borrows from the government.
–Toughen capital requirements for complex financial instruments like mortgage securities.
–Streamline regulatory agencies to end overlap and competition among regulators.
Clinton is offering her own prescription for economic reforms. The Universal Worker Adjustment Assistance plan she pitched would help those who have lost jobs to get trained and find a new job. Her Preemptive Training Initiative would help workers who are on the verge of losing factory jobs that move overseas. The New York senator also calls for more Pell Grants to help people attend college while working.
Clinton’s camp hit Obama for his plan, saying he “announced a series of broad, vague principles while offering no new concrete solutions to provide Americans with greater confidence in the market or keep them in their homes.”
The political debate comes as a new government report shows the economy nearly sputtered out at the end of the year and is probably faring even worse amid continuing housing, credit and financial crises. Nonetheless, jobless numbers out Thursday showed a decline this week, though analysts said they expect more losses this year.
Obama was speaking at The Cooper Union from the podium used by presidential aspirant Abraham Lincoln in 1860 when he delivered his “Right Makes Might” address, which helped him win the Republican presidential nomination.
FOX News’ Shushannah Walshe and Aaron Bruns and The Associated Press contributed to this report.
And… where does Obama plan to get the $30 billion from? I don’t agree with his plan for the economy, but I don’t agree with McCain’s either. Something needs to be done, but neither one of them have it right.
Barack Obama = SOCIALISM / KARL MARX I am in the pocess of investigating each candidate and am finishing up on Obama. He is wanting to “change” America supposingly for the better. From all his speeches and reports and investigation into this man and his pastor and their associations it all leads to THE GOVERNMENT TAKING OVER AND TELLING US AMERICANS WHAT AND HOW MUCH WE CAN HAVE OF OUR OWN MONEY AND FREEDOM. THIS IS WHAT SOCIALISM AND KARL MARX . My sister-in-law lived in Socialism which turned into Communism in her home country overseas, upon which her family still live. My sister-in-law stated that the Government agreed to pay for college, healthcare,medicines,dental, but after getting out of college you had to serve in the military for 2-5 years for the men. Women have to work in the medical field mental wards and hospitals. Her family have to rent out land from the government to grow food for the winter, because the government does not allow enough money to make it through the winter. Her father is driving an old straight shift 1950’s car. My sister-in-law remembers having a root canal done w/o pain meds or anesthesia because govenment will not pay for this. SOCIALISM TURNS INTO COMMUNISM AND THE GOVERNMENT GETS RICH OFF THE BACKS OF THE PEOPLE WITH NOTHING IN RETURN. PEOPLE, PLEASE INVESTIGATE THESE CANDIDATES, THE MEDIA IS HYPE, DON’T MAKE YOUR JUDGEMENT ON HYPE. BARACK OBAMA IS SOCIALISM
I will investigate Hillary next then Mccain. Whether you believe me or not is your choice, but I’ve done my homework. ONCE SOCIALISM STARTS IT ALWAYS TURNS INTO COMMUNISM and ONCE SOCIALISM STARTS THERE IS NO TURNING BACK
Apparently Obama is proposing a bailout by the government of those that recklessly bought houses without consideration of a rule that almost every homeowner knows: buy a house that you can afford to pay the mortgage. His proposal, like a reckless Robin Hood would steal from the cautious and responsible homeowners to give to the irresponsible home buyers.
Obviously Obama and his financial advisers believe in redistribution of wealth. Perhaps they are closer to the ill fated Cuban economic model than they would like acknowledge. The alternative is that his proposal is plain demagoguery which is typical of the liberal democrats.
I agree with Obama. Sure he is for bigger government, but I think his long term propsects regardign the government are sound. The housing market crash has effected the economy overall and people saying let the housing market straighten itself out will only ensure more companies like Bears& Sterns either borrow more money from China or risk collapse.
NO, don’t start talking about Rev. Wright or Obama lies, etc. . . this is about the economy. Let’s stick to the issues and talk about the economy here, this IS NOT about the Rev Wright story.
I wonder how it was for Chris Mathews.
I agree with McCain. This isn’t Government’s problem to fix. Fault lies with lenders and buyers! They got themselves into this mess, let them get themselves out of this mess. “Tough luck boys and girls - it sucks being you!”
I appreciate you offered Obama’s proposal instead of ending at HRC “spin points”
I don’t want more government regulation. The government just needs to inforce what is on the books. We are a free market economy. When you try to tangle with that, that is when there are problems. People who had no business buying homes were buying homes with nothing down. That is what most of the rest of us call “rent.” I am not terribly sympathetic. On the other hand, people who had to borrow against the value of their homes for health care costs or rising education costs and got caught when the bottom came out, I do sympathize with.
This is not a hand out nation. My parents earned their home. I expect that we all value what we earn more than what we are “given.”
Here is a short and sweet review of Obamas speech:
The Goverment can solve all your problems.
Big bussiness is cant be trusted to pick themselves up.
And we have to make everything work smother.
Now if that speech had been any more blindingly cliche it would have burned out the cameras
I am sooooooo shocked and awed! What else to expect out of a Democrat’s mouth than government intervention in the private markets.
How can he fix the economy when he can not even balance his check book!
Great…more regulations..just what our business world needs.
No wonder we can’t compete
Blah, Blah, Blah,
More verbal Monet from the DNC’s boy wonder! You know, when you listen from a distance it sounds kind of intelligent but when you examine it up close its a big mess…like kindergarten finger painting. Wake up people…read and listen to what this man is NOT saying!!!! He’s NOT SAYING ANYTHING but a bunch of gobbly gook
If Comrade Obama wants to regulate something, may I suggest starting with the oil futures market? They are out of control and we get raped at the pump daily as a result.
Obama = Big Government, Anti-Capitalist.
Period. That is all he is saying. The rest is fluff.
Commie.
Regulations never unleased economic power. Another indication this man is an empty suit who espouse old and failed liberal policies.
Sounds like a liberal interventionist attitude to me, a big government takeover of corporate America. Obama is a radical socialist ready to dismantle the Constitution. Look out America, the end of our freedom is near.
WOW! I would have never expected a liberal Democrat to push for Government regulation as the means of correcting the economy. (Sarcasm intended)
I am unaware of any time in history where an increase in Government regulation “fixed” a capitalist economy.
These 21st Century economic policies proposed by Mr. Obama are the rantings of a mad man. He is a Socialist pure and simple. Continued government regulation has proven to be a recipe for greater rescession.
This guy is just plum looney tunes! He is so socialist that I can not believe that more people don’t see it. It is not the governments job to regulate the economy. It is not the governments job to structure, control, or demand that the economy not follow the normal cycles it follows since we have been in existence. If you do that you become a socialist country, with the government telling businesses what they can and can’t do. Who they “have to” loan money to (which is how we got into this mess to start with by the way.) For him to come our and say we need more regulation more gov’t control on what is going on to the economy so we can stop these cycles, wow….how bold is this guy that he thinks he can just rewrite the history of how things ebb & flow. I seem to recognize this style of gov’t and control structure. It is called socialism and it did not seem to work out so well for the U.S.S.R. now did it. Or by the way look at all the other countries who follow a similar gov’t structure, how are they doing? They do not seem to be anywhere near where we are, they don’t have the technology we have, they don’t have the freedoms we have, they don’t the advancements we have. Let us please stop going down this road, and let us be honest. This economy and its problems, its on us! Us being the people, we walked down this road and brought this upon ourselves and it will be “us” pulling ourselves out of it! Not the gov’t for that is not there job nor should be. Please, as Americans lets take more responsibility of the situation and we alone are the only ones who will come our of this problem and make things great. But that is only if the gov’t leaves us alone and if we step up and realize that we don’t need there help nor want it!!
With so little experience Obama is promising something he’ll never deliver, the presidency should not become an internship!
Regulation is just another word Liberals use when they want to tax the American people. The government needs to stay out of the market and small businesses. Besides, this guy has a nerve like he’s some big brain or maybe he’s Stimpy.
I’m sure more regulation will fix everything. Let’s raise taxes on businesses and do everything we can to make it harder for them to compete. Raise the minimum wage to $25/Hr. Let’s see how many jobs we can gain with Obama’s plan. It will be a large number, but it will have a minus sign in front of it.
If you want to grow the economy, get the government out of the way. Cut taxes on business, drill for oil domestically, build more oil refineries, more power plants, and watch prices come down through the floor and watch the economy sore.
Who in their own retarded mind thinks the Government can fix anything? I want all Politicians to just crawl back in their 1 million dollar homes and keep their hands off things. The same people who get the most government assistance complain and belly-ache the most about the government anyways.
Yes, more regulation is just what we need! If we would of had the proper regulation, the kool-ade stand from which Obama apparently has been supporting—would not have served him.
The economy can’t finance the first stimulus package much less another one, if I understood correctly the money to send rebates in the recent package was borrowed. Does this make sense to anyone? Are we borrowing once again to stimulate an economy that needs to be strengthened not stimulated? Where does it stop? This is following the same course of the housing industry, borrow more than can be paid back, then borrow more to make payments. I am against bailing out lenders and borrowers simply because lessons that need to be learned are not being learned with bailouts, paid for ,of course, by taxpayers. My philosophy is Americans and America need to learn how to live within their financial means and the time to start is now.
You must be kidding, lets bail out people who do DUMB things when getting a mortgage. Last time I checked ADJUSTABLE was a 4th or 5th grade vocab term. Adults are not dumb they gambled and lost, now they want the government to bail them out of drastic mistake. Secondly he talks about reforming government, anyone notice he never mentioned what he wanted to reform other than government dishing out more money to stupid people! I can reform government in 1 fell swoop! Congress doesnt need expense accounts for lunches dinners and trips to Iraq! Use your own money!!! Next, you dont need enough secretaries to outfit a platoon for the military! Do some of your own work! Finally, nix the social programs that only a FEW can use. if it is not for the majority (which is what a democracy is) it does not belong!!! Do these 3 basic things and the economy and government will be fixed. The last thing we need is more government to try to fix the things that are broke, when they are ones who broke it to begin with.
Oh, please Senators give us more regulation and government intervention. We simply can’t function or succeed without your keen oversight and intervention. Maybe we could all have a town hall meeting on increasing the size of government at the Chestnut Tree Cafe — please — please.
OBama is no Lincoln thats for sure
What Obama has suggested is what Henry Paulson suggested. The days of risk free selling of loans and selling the risk to Wall Street in SIVs should be over. Banks need to be cautious of offering loans to people that little to no collateral or ability to payback loans as McCain as said. If people demagogue the word “regulation” then you are demeaning your readership or your readership favors being demeaned.
Everytime this guy opens his mouth, he shows how incompetent the reality is behind his campaign slogan of “hope”. The only hope I have after reading his vague “solution” to this economic slowdown is that this man never occupy the Whitehouse. Even the statement of “most experts agree the U.S. economy is in a recession” is chock full of error. A recession is an objective measure of two quarters of back-to-back negative growth in the GDP. Since we haven’t had a single quarter of negative growth, then these so-called “experts” would prove themselves to be nothing more than water carriers for the propaganda circulating about a recession. We are not in a recession. Things have slowed down, but that does not make for a recession. Will someone please get this guy a financial advisor so he doesn’t sound like a boob when he starts to talk beyond the specifics of a campaign slogan of hope? It’s scary to think how many people support this guy. If he were elected president and implement some of these broad-based ideas, we would skip right over a recession and head for destruction.
Permit me to say, with all humility, that I am a maven of History, and Mr. Obama is NO Abraham Lincoln by a long, long, long, shot. Obama’s recipe is one for total disaster and the destruction of our capitalist/freemarket Republic. Our ecomomic malais at the moment is due in part to a democrat plurality in our present effete Congress, and, in part, to the failure of that minority who fail to read the terms of their mortgages before signing same. Also, to those lending organizations who should have demanded more responsibility from those high-risk borrowers who, themselves should have shown more responsibility when borrowing money. Add to these factors is the additional lack of responsibility on credit card abusers. Contrary to some pundits, the insurgency in Iraq, and the oil markets are tangential at most.
Mr. O’s government regulation recipe further intereferes with the obligation of contract which violates the US Constitution…and he claims to be a constitutional law scholar. Harumph! He (and Mrs. C as well) would lead us further down the road to full Socialism (which has never been successful anywhere on the planet), or worse.
Thank you for your time and space. Former prosecutor & Retired Judge.
Any idea what regulations he intends to propose, strengthen or enforce more strictly if elected? How about whom he intends to regulate more effectively, or where his regulatory focus would shift vis-a-vis his perception of the current administration’s priorities?
“To renew our economy — and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again — we need to address not only the immediate crisis in the housing market; we also need to create a 21st century regulatory framework, and pursue a bold opportunity agenda for the American people . . . We do American business — and the American people — no favors when we turn a blind eye to excessive leverage and dangerous risks . . . If we can extend a hand to banks on Wall Street, we can extend a hand to Americans who are struggling.”
This is typical Obama-speak: make a statement on policy priority that most everyone can agree with (as though he is the first to recognize the stated need), and then claim he is going to “fix” the problem, without offering the slightest indication of how he intends to accomplish the utopian ideal du jour, or, perhaps more importantly, how he intends to pay for it.
There is zero substance to this man’s campaign and the platform of “hope” he espouses. His campaign slogan should be changed from “Change We Can Believe In” to “Change: We’ll Let You Know When We Get There.” It should worry America that a candidate for president can get this far without proposing a single concrete policy initiative. But, what more should we expect from a legislator who has no significant policy initiatives bearing his name?
At least Hillary proposes programs that provide some insight into her approach to solving actual/perceived problems (even though her funding source for these remedies remains to be seen, I think most of us have a good idea where she intends to generate the money). Of course, who could believe she’s telling the truth anyway?
Yikes, what a choice for the Democrats.
Thank God Obama is back…..now Hillary can catch up on sleep and not accept the 3am phone calls dressed and ready to go….he makes absolute sense re the economy!
Liberals always have the same old lame solutions, namely, bigger and more intrusive government. When will we all learn that more and more government intervention in our lives and in our markets lead to less liberty and economic stagnation.
This is not a rhetorical question: can anyone name a government regulation enacted following a crisis that actually had the intended benefit? I applaud the discussion about a 21st-century regulatory framework - let’s do that before passing yet more regulation that costs taxpayers money (and yes, in the end We pay for it). I disagree that throwing yet more money at the housing issue solves anything. And I’m hysterically laughing that the candidates that want to let the existing tax cuts revert now want to hand more money to everyone.
I don’t want to see Obama fail, so here’s my suggestion: get a new economic adviser before you speak on this topic again. For those of us that have been following the details, the JP Morgan Chase loan guarantee is not a “bailout” and staved off a much more massive crisis; be honest with your language and recognize the benefit it provided instead of politicizing the real issue.
Brilliant Obama…. Lets bail out the stupid who signed up for bad mortgages, I am sure that will stimulate the economy.. If you truly had a GOOD idea, why did you not propose a bill or legislation previously? This down turn in the economy is perhaps normal, and will likely turn around once the atmosphere of uncertainty discipates.. The economy has been fine previously, why do you need to re invent the wheel? IS htis to get your Big Gov’t programs some start up funding ? raising taxes ?? I sure hope the smart people get out the vote, because your ignorant supporters do not have a clue…
Has anyone visited a post office recently? Do we want the government involved in banking and healthcare? Imagine that folks. Wake up and realize that when the polticians say they want to bail out these homeowners what they are really saying is they want to pay off the banks who loaned them the money. The banks have been charging these loans interest for the amount of risk they were taking, thay have profitted greatly, now that the profits are slowing down they want the gov’t to take on these loans. Well folks that means you and me! Be aware these politicians are not worried about the folks, they want to bail out their high rolling wallstreet investors. I hope that the people of this great Country realize that bailing any one out makes the herd weaker. Peace.
Government is the problem with the economy…not the solution.
I certainly believe that Senator Obama has got the mantle and clout to rejuvenate the already crambling American Economy, and I would vote hm into power on basis of his outlined plans on the current economic crisis.
Once again FOX news intends to damage obama with a misleading headline. Obama’s RX for economy: Regulations. Lol! I heard the speech in its entirety and this healdline does his comments no justice at all. IF one were to swallow whole this headline they would think obama mentioned nothing of the Free market just government regulations. What Obama actually did say is that there needs to be BALANCE between the free market and government regualtions because “our free market was never intended to be a market where you can take whatever you want, however you want it”. Thats why there are rules to the road the requrie honesty and transparency” Obama is not simply calling for more and more regulations as FOX would have one believe. Hes calling for more effective regulations that renew confidence in the FREE MARKET. He also said those regualtions should HELP BUSINESSES and INVESTORS as well as homeowners.
FOx news come on! At least TRY to be “fair and balanced”
I do not feel that it is in any way my responsibility as a tax payer to bail out my fellow Americans who have made poor financial decisions. Often the problem is that individuals have bought homes that they simply cannot afford. In most cases, I believe that there were homes on the market that they could afford, but that fell below the level of prestige that they wanted.
More regulation will only make things worse. It may be uncomfortable, but being allowed to suffer the consequences of bad decisions allows humans to learn not to repeat the same mistakes. As a wise man once said, “The government is not the solution. It is the problem.” (Ronald Reagan) Show me the country where socialism has brought the amount of prosperity that we enjoy in the USA.
B. Hussien Obama is just another liberal who thinks he can regulate America into prosperity.
billions to train workers for new jobs????????
WHAT JOBS???????????????????????????????????.
We are becoming a nation of consumers only, jobs are going to China, Japan, thiland,and other places.
When the auto workers working for the auto makers can’t buy the product they make, something is wrong.
How about placing an import tax on products make overseas and maby the companies would come home to america.
As a nation of consumers only where does the money come form to buy anything.
Try finding any prouduct made in the USA in Wal-Mart or other stores.
O well lets just let the government take care of us…..I don’t think so.
WE ARE LOSING OUR MIDDLE CLASS VERY FAST. ..WHO CAN AFFORD TO BUY A 28,000.00 PICKUP OR CAR WITH HIGH INTEREST RATES. AND GAS TO HIGH. I consider myself in the middle calss of Americans and I cant afford to buy a new auto.
JUST WANTED TO LET IT OUT A LITTLE………..SORRY.
This is SCARY Stuff! Government intervention does nothing more than add additional problem to the current situation. Business cycles have always existed and the Government can not stop them. This guy does not know what he is talking about and will do nothing more than exacerbate the current problem. Allow the Market place to Correct itself.
I wonder if Senator Obama feels as his wife Michelle does? Afterall, just recently she admitted that for the first time in her adult life she was proud of her country. I believe Pastor Wright has had significant influence on not only Michelle, but Senator Obama, as well.
Government regulations….fools to the rules of a government plan.
To anyone that has followed our history, regulation does not stimulate economic growth.
Spoken like a true socialist…..does this man have anything original to present?
Vote McCain or join the insane
more of the same liberal rhetoric…… More regulations, less freedom!!!
Having Obama speak at a very exclusive school next to a billionaire mayor about regulations and the economy really makes we wonder about what is really going on with him. What I heard from Obama is what I heard on radio this morning from one of the Wall Street talking heads. Where is his insight and ideas? Did Bloomberg tell him what to say ?
I did not agree with the recent bailout of Bear Stearns, and I would not vote for anyone avocating more government intervention into business. Look at what happened to Chrysler, it was bought by a foreign county.
Regulation is the way to go! I’d feel much safer knowing the blue-chip employees of the government are regulating more things. After all, I’m too ignorant to invest in things like “complex financial instruments like mortgage securities” …. I sure hope he wins this election so Big Brother can tax more of my money to pay for more regulators and take care of me and keep me from doing stoopid things…. with these wonder crack ideas, shouldn’t Obama be running for the President of the USSR???
OBama, has one serious problem here and that is the banks do not lend money to the poor or lower middle class and his regulation will only make those that have the greatest need less likely to be able to recieve the money or credits they will need and only enhance those that already have the ability to recieve mortgages, bank loans, auto loans and other credit.
His plan will destroy the the middle class, lower middle class, and devastate the poor that are already in a economic disadvantage.
Regulation and stricter controls only lead to more weath building for those that already have it and that historical perspective is what happened previously in the 20’s, 50’s, 80’s and 90’s. Any person with a moderate economic knowledge would understand the serious flaws in this approach.
The reality is the middle class spend 93% of their disposable income while the upper middle class and weathly only spend 17% of thier disposable income. The economic engine that is America is powered by the middle class.
The weathly are less likely to buy moderate low end products which helps the manufacturing base, agriculture and auto sales (used). More used cars are sold in the U.S. than new cars, trucks and SUV’s every year by a 4-1 margin. Who do you think is purchasing those prodcuts? Donald Trump or Joe welder???
What a contrast!
I was watching the Fox Allstars w/Bret Hume last night, I wish many Americans could have heard the insightful comments of Mrs. Easton, Mr. Kondranke and especially Mr. Krauthammer as to some of the intracacies this economy faces.
Mr Obama and Mrs. Clinton offer America a choice of more governement red tape; Over reaction to an allready over-regulating governement bueacracy; As mentioned last night, Sarbanes-Oxley legislation, is a good example of Government “overkill” to “fix” a problem that effected a small percentage of the financial services market: While stiffling other, honorable, business people with mountains of government intervention and control. It is similar in the current economic situation; Americans, in November, will have a very real choice as to deciding as to whether the government’s hands will delve deeper and deeper into our lives; Or, allowing individuals and our free-market econmony to work it thru and thereby correcting itself.
It is in the best interest of America that the latter occur and I believe Mr. McCain is absolutely correct (as is President Bush) that in time the corrections will take care of themselves. It is the way a REAL free-market economy must work!
We still have 7 months until the general election for President and that is plenty of time for the economy (and Iraq) to become yet another chapter in the line of great American success stories. And by November I’ll predict that whoever the democratic nominee is the hollow, empty, rhetoric fomenting currently from both democratic candidates will not even be an issue.
“…we also need to create a 21st century regulatory framework, and pursue a bold opportunity agenda for the American people,” I might be able to support Obama if I just knew what the heck he was talking about. Clinton has a point here. He throws out vague phrases and catch words, but there is no substance. I’m not saying Hilary’s concrete in her ideas, but at least she throws us a few bones to chew on every now and then.
Who is Obama going to appoint as his economic adviser Tony Rezko. I hear he’s good at making money.
“most experts agree the U.S. economy is in a recession.”
Gee, from Economics 101 I seem to remember that a recession is defined as two or more consecutive quarters of economic contraction. We’re had something like twenty consecutive quarters of economic expansion. So anyone that “agrees the U.S. economy is in a recession” is an idiot.
Why do we continue to elect people with law degrees to guide our economy, and never someone with a business education?
I think Obama would be the best choice of President for the USA of the 21st Century, I believe it will wake America up in the racial devide which is surely in the country, by hiding behind the devide will not resolved the problem, race is hiden but should not be. bring it on as Bush would say.
Really who would be the best president to unit the races better than a half white half black person to whom should have no racial intent within him or her.
I am in te UK and would like to see this issue come out in the open, race is also an issue here in the Uk, and also hiden like in the USA.
Signed: V I Belgrave.
Finally back to business. Let’s keep this election on track. The bottom line is this is the meat and potatoes of this election. The American economy! Clinton and Obama can duke it out all day about this. But let it be issues that are effecting Americans everyday, not this petty stuff we have been hearing. The bottom line is, I am an Obama supporter, I feel we would be lucky to get either one of them. Even though I despise Hilary, she would be much better than Mc Cain. He has no solid plans to work on the economy. We need a democrat..Stop bashing and lets unite!
This is another signal that we are headed for more statist and collectivist responses to our national crisis. Obama wants the government to mediate or control what he calls “dangerous risks.” So his regime will start identifying and regulating economic activity based on what it deems “dangerous.” The only “dangerous risk” our economy faces is inappropriate intrusion by the government into economic activity.
This guy is a Big Government leftist. I truly hope the citizens of this country are not duped by his empty demagoguery. That being said, what we have right now are Big Government Rightists.
Let’s get back to the idea of smaller government and taking more responsibility for and control over our own lives. Big Government stifles both personal and corporate innovation and drive. Recessions come and go as they always have. One can never eliminate that. What one can do however is overregulate the economy and permanently stifle it-just take a look at the 1970’s for a prime example. This crisis will pass.
We are in the last days and people like Obama and Clinton want to do everything they can to hurry our destruction along.
As usual.. Mr. Obama talks big… but no specifics
Yea you moron that is what we need More Government hands in the pie.. Get Government out of peoples lives and keep your hands out of things government knows nothing about..
Hillary wishing to create new Jobs & Training programs for “Existing jobs” is just stupid
where are these “Existing Jobs” that supposedly are not being filled now?
Liberals just love throwing money at problems and when the programs fail, all they say is “We tried” and “We cared”, they never take responsibility for their failed programs
When will Liberals get it through their heads, they need to create and help businesses to create new jobs if they wish to have jobs for the unemployed,
No amount of training or retraining will get a person a job when no jobs exist for them once they are done.
No, to Democrats and Liberals, the very entities creating jobs , corporations and businesses are the targets of their tax raises and regulations, thereby causing the exodus of jobs overseas in the first place….
It amazes me how politicians can correlate words that seems to indicate they know what they are talking about and really say absolutely nothing.
Since when is it the taxpayers responsibility to pay for bad financial decision making by people.
This is no different than running up a huge credit card debt and not being able to pay it off.
Mortgage lenders and banks jumped on the bandwagon to make all the profits by allowing the loans to happen in the first place, knowing full will that the chance for default was 50/50 at best. They just did not plan on such a large amount of defauts to happen so quickly. Better than 90% of “ALL” current mortgages are currently paid on time. Why should the taxpayers have to pay for the <10% that is not. It should be the financial institutions responsibility to pay for their poor lending or investment judgement not the taxpayers of United States.
Our regulatory agencies have performed “so well” over the past decades, OF COURSE we need more regulation! Where would Mr. Obama find 5 honest people to do all this regulation?
“Regulatory Framework” means a return to FDR’s days. As billed in text books this sounds like a saving grace. When one actualy understands the incredible failure FDR’s programs were to the poor, we should cringe at the thought. Bigger Government here we come.
Ya we need to expand the size of the government so that I can help the free market system by imprisoning it and cutting taxes. I wonder where all the money will come from to inflate the government? Oh what I am thinking they have money trees on the whitehouse lawn to take care of that, we are in no danger of seeing taxes increase if a lib nutjob gets in the whitehouse…how stupid do they think people are?
Sorry, Mr. O, “Government works best which governs least.” Thanks, Tom Paine.
This is just what you would expect from an ultra liberal democrat. More government intervention into our lives, more agencies to pay taxes for.
While I like the tax cut idea. I am always over the income margin when it comes to property tax or other types of tax relief.
Believe it or not in a NJ over 55 development we pay over $10,500 in property taxes. And I never get a cent of the property tax relief that NJ provides.
NJ is governed by Democrats and there are so many stake holders on the government dole NJ government will never change.
Oh Borat,
Stop, can’t breath, ribs hurt….oh, so much pain….you Socialist Dimocrats are killing me and many of my Conservative brothers and sisters with your antics………yes, you are the “Peoples” Party……….oh, except for voters in Florida and Michigan and typical white people and grandmothers that get tossed under buses for political gain…..oh, I failed to mention your unpatriotic spouses, leacherous spouses, crazy pastors, past and present, surrogate attack dogs……so much to laugh at.
Ahh, the pain, gasping for breath, yea, they’re a lock for the White House, oh Lord, make it stop
Just keeps getting better……………….the blind leading the blind……………please, I can’t laugh much more without peeing on myself
As ususal, he copycats. And Fox is so not fair regarding the time showing him and then Clinton’s speech. Her speech was very direct and had amazing solutions.
As usual, BO will hold audiences with his mouth… but not his heart.
I may vote for Nader if B. H. O. is the nomination for the dems.
Yeah right! Tax more on the whites (60%), tax even on the hispanics (30%)and tax less on the blacks (10%). That’s his goal for sure.
No wonder he smiles so much. Ignorance is bliss.
In all speeches I’ve heard Mr. Obama talk about the economy, the only specific solution he has provided is for eliminating the cap on Social Security, which I agree with. Other than that, all I hear is promises that he will do better than the Bush administration.
Empty promises. I dont want a government handout. I want the government to leave me alone. Dont do me any favors. They’re all clowns.
Bravo Barack,
Enron, Bear Sterns, Countrywide, and so many more that are not “Natiional Names”. A toothless SEC, and others. Hmm, you almost think they learned not to tell the truth?
More I hear Obama talking the issues more I’m impressed. I think he should avoid further addressing the issues like Reverend Wright (as he already delivered a speech on the matter) and stop answering to the negatives of his opponents. Talking the issues Americans badly need to solve and addressing the major issues the World needs to have solved are more important than answering the negatives. I’m confident Obama understands the sufferings the middle class and the poor people than anybody else. There are lot more can be spoken positive about him. He should be given the opportunity (People should take the unique opportunity) to be the next President of the USA.
Ehsanul
Montreal, Canada
Ok, this is a surprise. No, not really. A Democrat who thinks that the fix for the economy is more regulation. It seems that a large part of the problem is the government won’t get out of the business of business and they won’t get their hand out of my pocket.
Once again the Democrats prove that they think they know how to spend my money better than I do. Frankly, I am sick of it. Let the government provide the things it was intended to provide and get out of everything else.
Obama was quoted as saying:
“To renew our economy — and to ensure that we are not doomed to repeat a cycle of bubble and bust again and again — we need to address not only the immediate crisis in the housing market; we also need to create a 21st century regulatory framework, and pursue a bold opportunity agenda for the American people,”
What ever happened to a free market economy, where the market corrected itself? What makes Obama or any politician think he knows better? More regulation is not the answer. Look what it has done in the last 20 years. More regulation means higher costs. Higher costs mean higher prices. Guess who pays. That’s right. We do.
Hey Politicos and Government bureaucrats. Get your hands out of my pocket.