Obama says bailout could delay plans

At least Obama is being honest about where we are in this country.I recommend that we restructure the nature of how we write bills in congress to allow complete transparency and to limit the number of riders on legislation.We all need to be concerned about the future of this country which is tied to our financial status in the world.To prevent fraud one needs to know what is going on.This methodology should also be applied to our financial institutions.This change has nothing to do with the operation of business.

Atleast he tells the truth on this issue....

Mccain 2009

It looks like Bush and the Republicans are out to wipe out the middle class one way or the other even if they lose the election and Obama gets elected and the dems take congress we still lose now either way. Since it's apparent the system no longer works for us I believe the time has come for a call to arms and a second American Revolution!

Of course it will be delayed!! They always are. Usually delayed indefinately. In fact the only tax cuts we've ever see was from a REPUBLICAN president!! Think about it!

It's nice to hear some honesty.

This is what happens when reality collides with baroque orated optimism.

Well... he's only being realistic, although you'd think that he would be able to push through his tax cuts to give the middle class folks on Main Street some much-needed relief. I'd honestly like to see us go back to all the regulation we had before Regan started this whole mess. Roosevelt put those regulations in place for a reason, and this country had generally continuous growth in GNP, jobs, income, and aspirations. Things happen so fast these days that we probably need to augment it all with a watchdog committee that reports directly to the president. Honestly and truly... this election should've been about the economy from day one, but McCain has insisted from a year ago that it was all about the war, the surge, and anything (lipstick on a pig) but the ECONOMY because that is certainly not his strong suit. Oh my is he wishing he had picked Mitt Romney now... he would definitely have an edge with a heavyweight financial guy as his VP. But this republican is voting for Obama because it's the sane thing to do. John McCain is out of touch, and with 7 houses, 13 cars, 1 private jet, and a temper that is too short for a president... well I can't vote for him. Did you know the Obama's own only one house, and one car (a Ford Escape Hybrid)? Yeah... I think he's more in touch with reality than grandpa McCrazy.

Tax cuts? As long as you get yours, I guess.

Our schools are bankrupt, our cities are drowning, our roads stink, our bridges are falling down. People are afraid for their jobs, pensions and how they are going to heat their homes. I suppose tax cuts will help fill up the tank a few times.

Lucky him!! Isn't it convenient he now can blame the republicans that his plan cannot be implemented. Please look at his plan, with or without the bailout it couldn't be implemented. His plan makes less since than the bailout. But its popular with the money poeple so he will tag along and then come back later and blame the republicans cause they did it wrong or cause it happened at all. His plan would have never worked anyway. It cost more than this bailout.

I DON'T THINK HE HAS A PLAN,HE'S READY TO REVEAL YET. I THINK HE'S
USING THE STOCK MARKET AS AN EXCUSE. THAT IS THE DEMOCRATS
OPERATE. JUST TELL THE VOTERS ANYTHING TO GET ELECTED.THIS IS
ONE VOTER AGAINST THIS MAN FOR PRESIDENT.

Well, I'm definitely not in the 5% of Americans that are making $250,000.00 or more, so yes... I'll get mine. And those who are above that will be restored to the Clinton-era percentages. And think about those seniors who are trying to live on social security making under $50,000.00 they won't have to file. They also won't have to sell their modest house then to pay bills. With the costs to live going up all the time and being on a fixed income... what's your advice to those seniors?

Mike T, thanks for your comments. I can see the point that with $700bn extra on the loan sheet, many of both parties plans would be impossible to implement. I'm interested in your analysis of what is and is not possible on both plans without the bailout. You've obviously done the analysis, could you share your results with us?

Let's see how long McCain will jump on the bandwagon and tell his rich buddies their tax cuts won't be permanent. Thanks for telling the truth Obama!

Obama08

The reality of this situation is....this country is in a mess AND the Republicians were at the helm, isn't it customary for the captian to go down with the ship?
I am so sick of the politics as usual, blame the other guy! The truth is that both parties are to blame for this debacle and the republicians should bear the brunt, after all it was a republician congress when all the deregulation took place. They can spin it anyway they want but it won't change a thing. Right now we need responsible LEADERSHIP!!! Let's cut the crap and deal with the truth and the issues.
Broken promises already exist in this campaign (campaigns would be run at the highest standard) and now the character assinations have begun, we the American people have no one to blame but ourselves, we allow them to do this, for once we should stand up and be heard....stick to the issues or lose my vote, character assination lose my vote, stick to the issues, show calm, thoughtful, common sense leadership, WIN my vote!

haha..I love the "he only has 1 car" comment...yes, I'm sure he and his wife with their 2 full-time jobs share one car..or better yet, one of them takes the bus. Rather, I bet he gets driven around in a limo at the expense of tax payers.

And what's with the Regan started this mess w/ the deregulations comment....it was Clinton who was in office when the Gramm-Leach Act was signed removing the post-Depression policies. He signed it!! If Democrats (are you listening Barney Frank) didn't back the idea that all Americans should own a home, even those who couldn't afford it, we wouldn't be in this large of a mess.

The young college-aged whites who, each and every one, glazed over when asked for a description of at most one position plank in an Obama candidacy never will have noticed the difference.

Rollin, Obama's plan is on his website ... you know, click, download .pdf, read?

Simple.

Guess what Obama is honest haven't seen McCain say any thing only what tax cuts he is going to make.

If anyone thinks any president can do anything with this 700 trillion dollar mess they need their head examined. Get real people. Where do you think the money will be coming from "us" to repay this again like we did 20 years ago.

Anyone thinking by not raising taxes is crazy - any president that is responsible enough would tell you he would have to raise taxes for everyone. This is simple math.

McCain isn't telling you this because he wants to win this election beyond all costs and that is the truth.

Meantime we are printing worthless money and Paulsen is at the helm and he is the one who testified in congress that "our economy is good". Would you trust him again? I wouldn't!

Is Paulsen telling us what if this doesn't work what happens? No - the republican person who heads our country isn't telling us the truth and neither is Paulsen. Only what they want us to hear.

Listen up people if this bailout doesn't work we will not be in a rescession but
another "great depression".

At least Obama is honest and man enough to say that
this mess we are getting us further into will not help get us tax cuts and get other programs like health care ect. that they are all promising us. I would think that if our country didn't have any money wouldn't be able to do anything as promised by MCCain or Obama.

So if Mccain isn't saying much and he is promising you guys the moon then you ought to be wary!.

This is a reply for the message Mike sent on number 9 comments, it is apparent you think that this is going to be blamed on the republicans well guess what?

We have a (republican) who hired Greenspun who everyone thought was a genuis. Greenspun was suppose to also be our "watch dog" on our countries finances.

Where was our head of this country who is responsible for protecting us from messes like this. Where was Greenspun and Paulsen? Both of them were all selling us to communist China. They were all smiley and cuddley with this communist country and our republican head at the helm doling out his "free trade " agenda. He wasn't paying attention too the important matters "us".

Our present head of office happens to have given us a legacy of trillons of dollars of debt to be 8 years of republican rule that has got us in a mess we are in now.

So don't tell us this because we are all awfully tired of hearing ths retoric.

No one has EVER got us in this mess but republican administration they out to pay us back for getting us in this mess.

Mike ywe all need to stop saying this and get real and face up to the truth NO president coming in can cut our taxes, and give us everything they promised its is unrealistic and to late. We are in trillions of debt. That is the real truth.

As a country everyone looked at us and thought we were good now foreign countries are looking to be part of this big bail out. Read the news!

This legacy for our future generation will stay in our history as a nation and is being handed down to us in debt. Think about that.

I never thougt this would very happen but it has, we just need to be real and be honest with the situation.

This message is from a simple voter who is very wary of the republican retoric mess we landed up with.

Umm... we all kinda knew you weren't going to do that stuff anyway Deval, I mean Barack.

I think No Bahma is just going to repeal the Bush tax cut for the wealthy and keep the part of the Bush tax cut for those making X in the so called middle class.
That will be your tax cut.
Imagine a tax cut for 95% of the tax payers. Considering only 45% of those 95% acually work and pay taxes. The rest are just a burden.
The 5% of those not getting a tax cut pay 65% of the taxes. No Bahama still hasn't told me how he is going to do it.
Since most of that 5% is big business and the like, we should be fine as long as we don't buy gas, food, toilet paper, coffee, or clothes for the kids, I guess we will be OK under the No Bahma tax policy.

All I know is that 7 of the last 10 presidents have been Republicans. At the very least the Republicans own 7/10's of our current crisis. In addition, list the President's who have left the largest deficits upon finishing their term and you will note the Republicans occupy the top of this list as well. Republicans help the rich and powerful and then call for smaller government. It's a lie...they just run the government with deficit spending. Kind of like "eating your children to live another day" which is also fiscally irresponsible. I guess the mess we have now is what you get after a generation of Republican "trickle down" policies.

We are at the brink of the worst financial crisis in the last 80 years. The prior such crisis left Americans in abject poverty - some of whom never recovered in their lifetime. It took almost a decade and a world war for our country to begin to rebuild... AND YOU PEOPLE ARE WORRIED ABOUT TAX CUTS!!

It's time for Americans to recognize that our country is is no longer admired and revered around the world, mortgage foreclosures are at record highs, and we can't afford to put gas in our tanks or heat our homes. Do you really think a president who provides a tax cut will make all the difference? Where did your $600 "tax relief" go? Did it help you hang on to your home? Did it buy oil to heat your home this winter?

Please, somebody, tell me exactly WHAT about the last eight years would you like to see continued?

How we are not outraged at the state of our nation is beyond my comprehension and yet the petty discussions on this board center on honesty and integrity. Show it to me in the Bush presidency, please... show it to me in our Republican ticket... PLEASE!

#4, you couldn't be more wrong... Ever hear of the Earned Income Tax Credit? Probably not, because you're so wealthy you don't need it, and are scrooging around for every penny of "your" tax money that your greed has blinded you to the truth.

The Clinton administration worked with the republical congress in 1995 to give us a tax cut for the middle class and a balanced budget that began to pay off the national debt. Curious George and the republical congress gave us tax cuts for the wealthiest 1% of Americans that directly caused the 2001 recession and put us into half-trillion dollar deficits every year since then that our grandchildren will be paying off.

Either tell the truth or keep your lies to yourself.

Did the media ask McCain if he thinks we should still make the tax cuts for the rich permanent?

Will someone ask him in the debates?

The guys with the most money should pay for the bailout. They're the ones who created this mess.

Obama's plan was way too ambitious anyway, and was going to balloon the deficit even more. So now instead of tax cuts and more spending, it will be tax neutral (at best) and tax hikes, and much more spending. And the problem right now isn't so much taxes, but its just that the government spends WAY too much. Does anyone really think that Obama is going to cut gov't spending? He is already talking about adding on more goodies to this $700 bilion bailout in the name of "helping people stay in their homes". In other words, if you are a taxpaying American who was responsible, it's your turn to pay up, so we can save those who were irresponsible.
This thing is expensive enough as it is, why add on all kinds of other free stuff?

That being said, the one thing I agree with the Dems on this is for the executive compensation limits for the bailed out banks/firms. I always was fine with whatever a CEO makes, that is the company's right to pay him whatever amount they think he's worth. The right CEO can make a company way more than his personal salary. But if these CEO's who took on all these foolish high risk investments are to use part of this $700 billion to save their company, then sorry, you don't get to keep your $20 million (or whatever it might be) severance package, as that is the price of being saved with taxpayer $. How could they insist otherwise with a straight face?

It was nice to see that yesterday the CEO of AIG refused his $22 million severance package, because he basically admitted that he failed. It would be nice if all CEO's in this mess would do that, because then it would give Barney Frank less reasons to grandstand in front of a camera with feigned outrage over a situation that he partially created.

Obama's plan was way too ambitious anyway, and was going to balloon the deficit even more. So now instead of tax cuts and more spending, it will be tax neutral (at best) and tax hikes, and much more spending. And the problem right now isn't so much taxes, but its just that the government spends WAY too much. Does anyone really think that Obama is going to cut gov't spending? He is already talking about adding on more goodies to this $700 bilion bailout in the name of "helping people stay in their homes". In other words, if you are a taxpaying American who was responsible, it's your turn to pay up, so we can save those who were irresponsible.
This thing is expensive enough as it is, why add on all kinds of other free stuff?

That being said, the one thing I agree with the Dems on this is for the executive compensation limits for the bailed out banks/firms. I always was fine with whatever a CEO makes, that is the company's right to pay him whatever amount they think he's worth. The right CEO can make a company way more than his personal salary. But if these CEO's who took on all these foolish high risk investments are to use part of this $700 billion to save their company, then sorry, you don't get to keep your $20 million (or whatever it might be) severance package, as that is the price of being saved with taxpayer $. How could they insist otherwise with a straight face?

It was nice to see that yesterday the CEO of AIG refused his $22 million severance package, because he basically admitted that he failed. It would be nice if all CEO's in this mess would do that, because then it would give Barney Frank less reasons to grandstand in front of a camera with feigned outrage over a situation that he partially created.

TAX RELIGION AND THE UNDERGROUND ECONOMY!

If we do that we'll have more than enough money to pay for this bailout and to start paying down our national debt!

In order to be able to tax the underground economy we'd have to go to a consumption tax and dumb the income tax because there's no way to find out how much the underground economy makes, but everyone needs to buy things new and used. It would also be a nightmare to tax religion based on income taxes but easy to tax religion under a consumption tax. Religious groups and churces are all consumers too and need to buy things new and used for their churches. The key here is no exemption cards for religious orgizations, they should have to pay taxes like everyone else!

Can you imagine how much more money the federal government could collect if both religious orginizations and the underground economy had to pay taxes just like everybody else? We could easily fund this bailout and we could easily pay down the national debt over a 10-20 year period of time. That's what needs to be done! Have one flat rate for everybody that is no higher than 5-10% tops so everybody can afford it. A higher rate than 10% will not work as many people couldn't afford to pay it so the rate has to be on the lower side 10% tops no higher and I prer closer to 5% which I think might give us enough money. The details for the exact rate would have to be figured out. Mainly there could be no exemptions, everyone has to pay which includes religion, the poor, and the underground economy. All we need is to figure out an affordable rate that even the poor could afford to pay. This would solve all our fiscal problems once and for all! This would be REAL CHANGE and not just talk.

Obama enough is enough your words - bail out people not wall street. We were screwed twice once on mortgage fraud and then on gas manipulation.

You want my vote - take a stand

OHIO