Friday, September 19, 2008

It's the Economy, Stupid

Here's what Barack Obama says is wrong with our economy:

(1) This is not just a string of bad luck but the result of years of bad decisions made in favor of big corporate special interests instead of America's working families.

(2) More than 600,000 Americans have lost their jobs since January. Home foreclosures are skyrocketing, and home values are plunging. Gas prices are at an all-time high.

(3) We're still spending more than $10 billion every month on a war in Iraq that should never have been waged.

(4) Due to reckless deregulation and huge tax loopholes for big corporations, American taxpayers are facing costly bailouts as these corporations crumble.

Here's how he would fix it:

(1) Pass a $1,000 tax break for struggling, middle-class families who need help dealing with the rising costs of gas, food, and health care. He says this would save over one million jobs.

(2) End the "anything goes" culture on Wall Street with real regulation, protect investments and pensions, and avoid devastating bankruptcies and bailouts.

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