Obama's Economic Plan

[JennyFever]

You can read the plan here, or get a quick overview here.

Obama's plan looks solid, and addresses our need for job creation, help for the middle class and small businesses, and freeing up some credit. Some highlights:

--Temporary tax credit for businesses adding jobs here in the U.S.
--Funding to rebuild infrastructure, and keep current projects in motion
--Allowing people to withdraw from 401K plans without penalty, retroactively for 2008 and all of 2009
--Allowing mortgages to be restructured
--Moratorium on home foreclosures for 90 days

McCain is going to buy all the bad mortgages with our money.

I'm looking forward to hear Obama discuss his plan Wednesday night at the debate...it will be interesting to see if McCain comes up with anything new by then.

 

[dilloduck]

You can read the plan here, or get a quick overview here.

Obama's plan looks solid, and addresses our need for job creation, help for the middle class and small businesses, and freeing up some credit. Some highlights:

--Temporary tax credit for businesses adding jobs here in the U.S.
--Funding to rebuild infrastructure, and keep current projects in motion
--Allowing people to withdraw from 401K plans without penalty, retroactively for 2008 and all of 2009
--Allowing mortgages to be restructured
--Moratorium on home foreclosures for 90 days

McCain is going to buy all the bad mortgages with our money.

I'm looking forward to hear Obama discuss his plan Wednesday night at the debate...it will be interesting to see if McCain comes up with anything new by then.

Anyone espousing an economic plan right now is crazy. The economic picture is changing by the minute.

 

[Modbert]

Anyone espousing an economic plan right now is crazy. The economic picture is changing by the minute.

Gee, why should we even focus on the economy then with the candidates? Ideas are better then nothing. Besides, Obama gives you a idea and layout of what he has in mind.

The economic picture may change but it doesn't mean he can't adjust his plan to the "ever changing" picture.

 

[dilloduck]

Gee, why should we even focus on the economy then with the candidates? Ideas are better then nothing. Besides, Obama gives you a idea and layout of what he has in mind.

The economic picture may change but it doesn't mean he can't adjust his plan to the "ever changing" picture.

lol right..Whew it's getting deep in here.

 

[JennyFever]

We need a leader to guide us through this crisis. Leaders make plans and implement them. Losers bumble about aimlessly, constantly changing their minds and ultimately accomplishing nothing.

 

[dilloduck]

We need a leader to guide us through this crisis. Leaders make plans and implement them. Losers bumble about aimlessly, constantly changing their minds and ultimately accomplishing nothing.

True--then why are we looking at two losers on the ballot ?

 

[del]

We need a leader to guide us through this crisis. Leaders make plans and implement them. Losers bumble about aimlessly, constantly changing their minds and ultimately accomplishing nothing.

* biting tongue*

 

[del]

True--then why are we looking at two losers on the ballot ?

kismet?

 

[dilloduck]

kismet?

bless you ( tissue ? )

 

[Modbert]

True--then why are we looking at two losers on the ballot ?

McCain not right wing enough for you Dillo?

 

[del]

bless you ( tissue ? )

thanks.
i think it's allergies

 

[DavidS]

--Temporary tax credit for businesses adding jobs here in the U.S.

First of all, what kind of business, how many jobs does a business need to create in order to have a tax credit, what kind of tax credit, what's the fine print, etc. If I'm a small business and I create 1 job a year, does that mean I don't get to pay ANY taxes? Obviously there's more here that I'd like to read about.

--Funding to rebuild infrastructure, and keep current projects in motion.

I think that's interesting and great that Obama wants to cut earmarks for infrastructure that are stuffed into normal bills and that he wants to create a seperate account for this. My questions for this are:

Does this mean that Obama will reject any bill with an earmark for infrastructure in it? I can already see 2012's negative commercials rolling: "Obama voted AGAINST infrastructure for your state."

This is sort of McCain's idea... except taking McCain's idea of rejecting earmarks a step further and creating a seperate federal fund for it.

--Allowing people to withdraw from 401K plans without penalty, retroactively for 2008 and all of 2009.

Wonderful. 2 thumbs up. This was McCain's idea, though.

--Allowing mortgages to be restructured.

This is good for homeowners. Very good. Part of the Paulson plan, though. That means banks will take losses... heavy losses. That might hurt a lot of banks. Are we prepared to lose more banks?

--Moratorium on home foreclosures for 90 days.

The best idea he's had. Obviously banks don't want to lose money - which they will do if they foreclose on a home. Telling banks to cool their jets and making it illegal to foreclose on a home that's in default is a VERY good idea. 90 day breather. This is the best idea I've heard and it SHOULD have been in the Paulson plan. 10 stars!!!

McCain is going to buy all the bad mortgages with our money.

Yeah, honestly that's terrible. I don't like Obama's ideas either. I think a comprimise needs to happen though. If I borrowed $500,000 from a bank and my new mortgage is $300,000, what happens to that $200,000? Under McCain, the taxpayers pay for it.... a very LIBERAL idea. Under Obama, the banks pay for it... a very CONSERVATIVE idea. I think the banks and the government should comprimise and the government will pay 50% of the difference between the new mortgage and the old mortgage. This will allow more banks to stay in business and won't put as heavy of a burden on taxpayers.

I'm looking forward to hear Obama discuss his plan Wednesday night at the debate...it will be interesting to see if McCain comes up with anything new by then.

Yeah, honestly, I'm so confused. First he was coming out with a NEW economic plan... then he wasn't... now he is again. Very confused.

If I had my choice between McCain's and Obama's plan, obviously it would be Obama's. The Federal government does not need to spend an additional $300,000. The Paulson plan should cover the difference between the old and new loans.