In contrast with the McCain campaign, which was clearly against having an economic strategy before they were for it, Senator Obama laid out a plan in Toledo yesterday to restore our economy, reminding us first of his long term plan for growth, which includes:
- - Reforming the tax code
- Bringing down the cost of health care
- Providing affordable education
- Creating 5 million new renewable energy jobs and 2 million new construction jobs to rebuild our crumbling infrastructure
In addition, Senator Obama introduced an economic rescue plan to provide near term relief.
"It's a plan that begins with one word that's on everyone's mind, and it's spelled J-O-B-S."
To deal with our immediate needs, Obama proposed
- - Protections for homeowners including refinancing loans and a 90 day foreclosure moratorium
- A $3,000 tax credit for businesses for each new job created
- Allowing withdrawals of 15% up to $10,000 of retirement funds without penalty
- Low cost loans for small businesses
- A stimulus package and extended unemployment benefits
Finally, Sen. Obama called for a return to fiscal responsibility and accountability from Wall Street to Washington to Main Street.
Video Credit: BarackObamadotcom
Yesterday, the McCain camp said this:
... “We do not have any immediate plans to announce any policy proposals outside of the proposals that John McCain has announced, and the certain proposals that would result as economic news continues to come our way,” said a campaign spokesman, Tucker Bounds. Mr. McCain’s policy adviser, Douglas Holtz-Eakin, said, “I have no comment on anything, to anybody” ...
before they said this:
A freeze on foreclosures will not be part of a new economic rescue plan Republican John McCain will present to voters Tuesday, a senior aide told reporters Monday.[McCain senior policy advisor Doug] Holtz-Eakin would not provide details about McCain's new proposals, but told reporters they would be far superior to those offered by Obama on Monday.
In other words, they'll try to find one and 'bring it to ya'.
Pretty erratic, or as former Reagan and Bush economic adviser Bruce Bartlett noted, “At this point I don’t think McCain can say anything on the economy that will sound credible.”
Cross-posted at Reality Window
