Obama calls for 21st century financial regulations, Clinton proposes more job training
Both Democratic presidential contenders are all about the faltering economy today, focusing on the pocketbook issue on which the party's hopes in the fall could rest.
Barack Obama started it off with what his campaign billed as a major speech in New York City in which he called for aiding homeowners caught in the housing crisis, updating financial regulations, and pumping $30 billion more into the economy and help protect families from the economic slowdown..
"Each American does better when all Americans do better," he said, but the country has lost that a sense of share prosperity.
Deregulation pushed by corporations that gave large sums to politicians led to a "winner-take-all, anything goes environment" that has harmed the economy, he said.
"Under Republican and Democratic administrations, we've failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices," said the Illinois senator, who was introduced by New York Mayor Michael Bloomberg and spoke to an audience that included former Federal Reserve chairman Paul Volcker. "We let the special interests put their thumbs on the economic scales. The result has been a distorted market that creates bubbles instead of steady, sustainable growth; a market that favors Wall Street over Main Streets, but ends up hurting both."
Obama also criticized both President Bush and John McCain, the presumptive Republican nominee, saying neither is proposing enough to deal with the housing crisis.
"His main proposal -- extending tax cuts for the wealthiest Americans -- is completely divorced from the reality that people are facing around the country," Obama said of the president. "John McCain recently announced his own plan, and it amounts to little more than watching this crisis happen. While this is consistent with Senator McCain’s determination to run for George Bush’s third term, it won’t help families who are suffering, and it won’t help lift our economy out of recession."
McCain just issued a statement that reiterated his Tuesday speech that he would consider any responsible proposal. "I believe the role of government is to help the truly needy, prevent systemic economic risk, and enact reforms that prevent the kind of crisis we are currently experiencing from ever happening again," he said in the statement. "Those reforms should focus on improving transparency and accountability in our capital markets -- both of which were lacking in the lead-up to the current situation.
"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."
In Raleigh, N.C., Hillary Clinton offered a $12.5 billion, five-year initiative to rebuild the middle class by helping laid-off workers and boosting job training. The program includes about $2 billion a year for worker retraining and $500 million a year in grants for on-the-job training.
"We are competing in a new global economy, but our policies to equip American worker for the twenty-first century are stuck back in the twentieth. When it comes to retraining assistance, our government is more focused on how you lost your job than how you can find a new one," Clinton said in a statement. "And while we have been rightly focused on trying to help people who are out of work, there’s been too little thought and effort to help people gain new skills while they still have their existing jobs – so they can move up or move on to higher-wage positions."
Clinton said the next president needs to aggressively work to boost the economy -- in stark contrast, she said, to President Bush. Clinton also took her shots at McCain.
"It's time for a president who is ready on day one to be the commander-in-chief of our economy. Sometimes the phone rings at 3 a.m. in the White House, and it’s an economic crisis," she said, alluding to her much-played TV ad about an international emergency.
"And we need a president who is ready and willing and able to answer that call. I read the speech that Senator McCain gave the other day which set forth his plan which does virtually nothing to ease the credit crisis or the housing crisis. It seems like if the phone were ringing, he would just let it ring and ring and ring.
"Senator McCain is a friend of mine and I admire his service to our country greatly. But he recently admitted, 'The issue of economics is not something I’ve understood as well as I should.' And it turns out he’d rather ignore the credit crisis and mortgage crisis -- or blame middle-class families instead of offering solutions on their behalf."
The middle class is being hammered by bad policies and decisions that are causing lost jobs and lower wages. "You pay the price," she said at Wake Technical Community College, where she praised local and state workforce development programs in North Carolina.
Her husband, Bill Clinton, followed the mantra, "It's the economy, stupid," all the way to the White House in 1992.
Sen. Obama's economic plan is a far better one than Clinton's and Sen. McCain's plan. His plan would address the economic problem now instead of later, and it addresses the fundamental changes needed overall to move forward in the 21st Century, from top to bottom and bottom to top. It's also interesting that while Mayor Bloomberg has not officially endorsed any candidate, he was the one who introduced Sen. Obama in New York, Sen. Clinton's senate state, which could indicate that Mayor Bloomberg supports Sen. Obama's economic plan. It could also indicate which candidate he is leaning more toward endorsing in the future. Sen. Obama is exactly what this country needs to bring us together as a people and to bring about the solutions we need to address the problems facing us as a country.
Obama's speech on the economy was brilliant. He gave a clear and easily understood lesson on the US market in its historical context, then set out PRINCIPLES for a 21st century US economy. Hillary has no principles. That is, she is un-principled, and all her many so-called "concrete" measures are merely fuzzy bullet points which we all know will be lost when she negotiates with her special interest lobbyists and multibillionaire supporters who are now threatening Pelosi unless Pelosi throws the race to their pal, Hillary. As the Queen of Mean, the only means Hillary understands are lying, kneecapping, and throwing the kitchen sink at honorable Americans. Her campaign has run on unpatriotic and unAmerican scorched-earth, drive-by shooting, gender and race gaming, divide-and-rule politics of personal destruction.
Obama's speech gives us hope, and a plan, that someone in Washington "gets it"
Here's a website that discusses how the sub-prime mess came to be. It's about 10 pages long and a bit dense, but a very good read.
http://my.opera.com/richardinbellingham/blog/show.dml/1796860
DON'T BE DUPED !!!
Large numbers of Republicans have been voting for Barack Obama in the DEMOCRATIC primaries, and caucuses from early on. Because they feel he would be a weaker opponent against John McCain. And because they feel that a Hillary Clinton and Barack Obama ticket would be unbeatable. And also because with a Clinton and Obama ticket you are almost 100% certain to get quality, affordable universal health care very soon.
But first, all of you have to make certain that Hillary Clinton takes the democratic nomination and then the Whitehouse. NOW! is the time. THIS! is the moment you have all been working, and waiting for. You can do this America. “Carpe diem” (harvest the day).
I think Hillary Clinton see’s a beautiful world of plenty for all. She is a woman, and a mother. And it’s time America. Do this for your-selves, and your children’s future. You will have to work together on this and be aggressive, relentless, and creative. Americans face an even worse catastrophe ahead than the one you are living through now.
You see, the medical and insurance industry mostly support the republicans with the money they ripped off from you. And they don’t want you to have quality, affordable universal health care. They want to be able to continue to rip you off, and kill you and your children by continuing to deny you life saving medical care that you have already paid for. So they can continue to make more immoral profits for them-selves.
Hillary Clinton has actually won by much larger margins than the vote totals showed. And lost by much smaller vote margins than the vote totals showed. Her delegate count is actually much higher than it shows. And higher than Obama’s. She also leads in the electoral college numbers that you must win to become President in the November national election. HILLARY CLINTON IS ALREADY THE TRUE DEMOCRATIC NOMINEE!
As much as 30% of Obama's primary, and caucus votes are Republicans trying to choose the weakest democratic candidate for McCain to run against. These Republicans have been gaming the caucuses where it is easier to vote cheat. This is why Obama has not been able to win the BIG! states primaries. Even with Republican vote cheating help.
Hillary Clinton has been out manned, out gunned, and out spent 2 and 3 to 1. Yet Obama has only been able to manage a very tenuous, and questionable tie with Hillary Clinton.
If Obama is the democratic nominee for the national election in November he will be slaughtered. Because the Republican vote cheating help will suddenly evaporate. All of this vote fraud and republican manipulation has made Obama falsely look like a much stronger candidate than he really is. YOUNG PEOPLE. DON’T BE DUPED! Think about it. You have the most to lose.
The democratic party needs to fix this outrage. I suggest a Hillary Clinton and Barack Obama ticket. Everyone needs to throw all your support to Hillary Clinton NOW! So you can end this outrage against YOU the voter, and against democracy.
I think Barack Obama has a once in a life time chance to make the ultimate historic gesture for unity, and change in America by accepting Hillary Clinton’s offer as running mate. Such an act now would for ever seal Barack Obama’s place at the top of the list of Americas all time great leaders, and unifiers for all of history.
The democratic party, and the super-delegates have a decision to make. Are the democrats, and the democratic party going to choose the DEMOCRATIC party nominee to fight for the American people. Or are the republicans going to choose the DEMOCRATIC party nominee through vote fraud, and gaming the DEMOCRATIC party primaries, and caucuses.
Fortunately the Clinton’s have been able to hold on against this fraudulent outrage with those repeated dramatic comebacks of Hillary Clinton’s. Only the Clinton’s are that resourceful, and strong. Hillary Clinton is your NOMINEE. They are the best I have ever seen.
“This is not a game” (Hillary Clinton)
Sincerely
jacksmith...
Michele Obama is an anti-american racist and a nappy headed ho too, She looks like a young Aunt Jemima as well; this is reason enough not to vote for Mr. Hussein Obama.
Remember though, a vote for Obama is a vote for Osama; don't forget that. Al-Qaeda also wants Obama to win. The only difference between Obama and Osama is BS. Obama’s racist Leftist anti-american Pastor Jeremiah Wight ought to be hanged for treason his anti-american comments (especially in time of War like now) as well as anyone who believes in or agrees with his Leftist hateful anti-american message.
Hateful militant angry blackman types are evil and are also anti-american traitors as well.
Just like Muhammad is in hell! So are many treasonous American muslim leaders such as Malcolm X, Elijah Mohammed and someday Louis farrakhan and honorary racist negro muslims like Jeremiah Wright and Jesse Jackson, Malik Shabazz, the Nation of Islam and the Black panthers and Michele Obama. Whenever they are asked to apologize for their evil rhetoric they rarely do and when they actually do they do it in a very niggardly manner. Isn’t it obvious their contempt for America and law abiding true Christians? America needs a President who loves America and is proud of her and needs those around him to love her also and served her both in politics and the miltary; much like President Bush, his father, Reagan, Ford, Nixon and JFK all did. We don’t want racist anti-military, anti-american angry negro running the country who has a nappy headed ho for a wife and a racist traitor for a pastor like Mr. Hussein Obama. A vote for Obama is a vote for Osama! Al-Qaeda is rooting for Mr. Hussein Obama too! There’s no telling how many 9/11’s we’ll have if he becomes the Prez; it is almost inevitable ! I would bet that we get hit at least 3 or 4 times by 9/11 magnitude attacks in 1 term with Obama. That is why I would never vote for him. McCain all the way!!!!!!
Remember though, a vote for Obama is a vote for Osama; don't forget that. Al-Qaeda also wants the dems to win! They fear the GOP. The fear Dubya and McCain that is why they have not struck since 9/11 ! They know Dubya and the GOP will retaliate with overwhelming force! Perhaps nuking Muslim holy sites is not off the table even. if we get hit again; it's been mentioned by some congressmen . Mecca might look like the Grand Canyon after! During the Hadj would be a good time I think. I would be dancing in the street and millions of americans would be too. God is great!! McCain all the way! Just like Muhammad is in hell! So are many treasonous American muslim leaders such as Malcolm X, Elijah Mohammed and later on Louis farrakhan and honorary muslim like Jeremiah Wright and Jesse Jackson.
This blogger might want to review your comment before posting it.
Send your comments to masspolitics@globe.com
browse this blog
by categoryInside Boston.com