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Barack Obama: Speech On The Economy

June 9, 2008 -- Posted by Catherine Morgan

Barack Obama spoke today on the economy...



From The New York Times...
Calling Senator John McCain's approach to economic issues, "a full-throated endorsement of George Bush's policies," the presumptive Democratic nominee, Senator Barack Obama, offered a preview of his plan for restoring the health of the American economy.

In a speech in Raleigh, N.C., on Monday Mr. Obama made an appeal to those Americans who are suffering the most because of the economic downturn, proposing a $50 billion jolt of fiscal stimulus as well as an expansion of unemployment benefits.

Mr. Obama also renewed his call for a $10 billion Foreclosure Prevention Fund to help those at risk of losing their homes and pledged a "get tough" approach to predatory mortgage lenders.

"The principle is simple," Mr. Obama said in prepared remarks. "If the government can bail out investment banks on Wall Street, we can extend a hand to folks who are struggling on Main Street." The Democrat placed the blame for the country's economic turmoil squarely on what he called George W. Bush's "tired and misguided" fiscal policies, but saved most of his firepower for his general election challenger.

Who do you think would be better on the economy? Barack Obama or John McCain?

Also See:

Obama To McCain...It's The Economy!

The Daily Kos

38 Comments   add a comment >>
Joy F.
Tuesday February 17, 2009, 11:39 AM


While wall street is getting bailed out. What about helping people who owe back taxes and offering them .50 on the dollar to pay their debts...we could raise a lot of cash that way and help the public.

Linda N.
Sunday June 15, 2008, 12:53 AM


To those who say Obama has a hidden agenda, I challenge you to show one piece of fact to support this. This is fear mongering at its worst. To those who say Obama would raise taxes, that is true only for you if you are very wealthy, in the top one percent. Maybe Bush and Cheney haven't raised taxes, but they have raised our debt to an all-time high, fighting an immoral war in Iraq to satisfy their neo-con goals of controlling the remaining oil resources in the world.

Nancy S.
Thursday June 12, 2008, 8:46 AM


Anne E. -- You can "believe" all you want about Obama, but that does not make it so. Where is the evidence of this so-called "hidden agenda?" I have heard the slander propagated against him, and it is nothing but wild speculation that can easily be discounted. It only takes 30 seconds to do a google search and find out his true voting record or his positions, but for some it seems easier to take the easy way out and just believe in something they heard...not everyone can be so easily fooled anymore. FACTS are easy to find, but some would rather make judgments based on irrational fears. Guilt by association is not a reasonable way to make a judgment about someone. The only reliable evidence is his record and his actions.

Nancy S.
Thursday June 12, 2008, 8:42 AM


Anne E.--you can believe all you want that Obama has a hidden agenda, but where is the evidence of this??? I am tired of the slander propagated against him. Until I see any clear evidence, I refuse to believe it. Guilt by association is just lame--we can only truly judge someone by his actions, not on wild speculations and fear mongering about "hidden agendas." Look to his voting record, his accomplishments. Vote based on your own integrity, not based on unsubstantiated fears. Not everyone is so easily fooled by these tactics. Don't be fooled by the slander!!!

Anne E.
Thursday June 12, 2008, 7:40 AM


Obama is of unknown quality, has done very little voting, has stood for very little positions. He talks in platitudes. Talks change & hope without substance. I do know about his friends, acquaintances, his mentor & spiritual advisor, the racist, Rev. Wright-You are who you run with! He has a wife who I believe is a militant. I believe the people who are running his campaign and will run our government have a hidden agenda. I do not what he is about, what the agenda is about, and I feel he has a dark undercurrent. Obama does not say a lot but his wife does. He has said "He will not allow you to go back to your life as as you knew it"! Are we not suppose to notice that Michelle's message is of force and that the Obama's are going to require and demand certain things of us. I still live in the US and I do not want a Czar dictating what I will do! He is Maxist in his thinking-You do not take from those who have and give to those who do not! He will tax us to death! He acknowledged that a raised capital gains tax will hurt the economy but he said he will do it anyway out of fairness! He will Bush's tax cuts lapse, raise the estate tax to 45%, raise taxes to fund a socialized health care system that will fail like it in Canada (Bankrupt), has said he cannot bring down the cost of gas but has said to put a windfall tax on oil companies who only make a 8.5% profit and that will produce more oil-WRONG-It will only hurt the people who are invested in the companies! WAKE UP AMERICA!

Linda M.
Thursday June 12, 2008, 4:00 AM


Margaret Comer said: "It is common knowledge through the years past, that the Democrats always raise taxes. " That's the propoganda that the GOP wants you to believe. However, Alan Greenspan, who is a registered Republican, called BILL CLINTON "the best Republican president he'd ever worked for." What he meant by that was that Bill Clinton was the one who was the most fiscally responsible and successful. Let's not pigeon-hole people based on their party affiliation, please...it's too divisive!

dylan h.
Wednesday June 11, 2008, 11:58 PM


So if the cause of this "slump" is that banks loaned too much to those who could not afford it, Obama is right to offer help to those given the loans. As it stands, the companies authorizing the loans are getting off while those becoming homeless are left to figure it out themselves. Further, the shareholders of the banks have continuously profited throughout the decade on these loans. Why bail out the rich shareholders who have already squeezed people dry for profits while leaving regular people pillaging and scraping their contacts for help. It's the shareholders and landlords who should foot the bill, not homeowners approved for mortgages they do not understand.

flo g.
Wednesday June 11, 2008, 10:24 PM


i DO NOT BELIEVE oBAMA IS PREPARED TO TAKE OVER OUR COUNTRY. sO I GUESS I WIL HAVE TO VOTE FOR MCCAIN. THIS HAS BEEN A MEDIA CIRCUS,SO WE MUST VOTE ON FACTS, WHO WILL BE THE BEST.

flo g.
Wednesday June 11, 2008, 10:21 PM


i DO NOT BELIEVE oBAMA IS PREPARED TO TAKE OVER OUR COUNTRY. sO I GUESS I WIL HAVE TO VOTE FOR MCCAIN. THIS HAS BEEN A MEDIA CIRCUS,SO WE MUST VOTE ON FACTS, WHO WILL BE THE BEST.

Margaret Comer
Wednesday June 11, 2008, 9:40 PM


If the Democrats had not oppose deverthing that Bush had tried to accomplish the past 7 1/2 years, we would not be in the mess that we are right now. It can not rightfully be blamed all on Bush. It is common knowledge through the years past, that the Democrats always raise taxes. So if you think we are in a mess now, Heaven forbid should a Democrat get in office in '08. People just do not understand what they are in for.



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