Candidates react to shrinking economy
Both Barack Obama and John McCain quickly issued statements about the decline in the gross national product in the third quarter -- the first time in seven years and the latest sign of a recession.
Democrat Obama blamed Bush administration policies:
“This morning, we learned that GDP has fallen for the first time this year, which means America is producing less and selling less and our economy is shrinking. American consumers were especially hard hit, experiencing their largest decline in spending in 28 years as wages failed to keep up with the rising cost of living. The decline in our GDP didn’t happen by accident – it is a direct result of the Bush Administration's trickle down, Wall Street first, Main Street last policies that John McCain has embraced for the last eight years and plans to continue for the next four. These policies didn’t work then, they won’t work now, and I’m running for President to end them. We need to grow our economy by creating jobs, providing tax relief for middle class families, and helping people stay in their homes, and that is exactly what I will do as President,”
Republican McCain, through his policy adviser Douglas Holtz-Eakin, used the news to bash Obama on taxes:
"Today's announcement that third quarter GDP fell at a 0.3 percent rate confirms what Americans already knew: the economy is shrinking. Barack Obama would accelerate this dangerous course. According to the independent Center for Data Analysis, Barack Obama's new policies will destroy nearly 6 million jobs over the next decade.
"Barack Obama's ideologically-driven plans to redistribute income will impose higher taxes on families, small businesses, and investors; expensive, rigid, job-killing health mandates on employers; energy policies that fail to promote domestic oil, natural gas, and coal, and will impose a massive Washington-driven regulation of everything from home furnaces to factories; isolationist trade policies that endanger one out of every five jobs; and massive new spending plans that that will burden the economy and saddle our children with debt. Barack Obama is change Americans cannot afford.
"John McCain's comprehensive reforms will clean up Wall Street, clean up Washington, and create nearly 2 million more jobs over the same period. John McCain offers a new direction and a real choice: lower taxes and under control spending; lower health care costs and portable insurance; an energy policy that declares independence from dangerous and unstable sources, values the environment, and supports growth; serious reforms to taxes, education, and trade to promote global competitiveness, and short-run plans to help the seniors, savers, homeowners, and workers hurt by the financial crisis."
Comment
Permalink
EmailThis blogger might want to review your comment before posting it.
About Political Intelligence
News from the Washington Bureau
Declassification of secret documents to be delayed
Tax break on profits again in jeopardy
In N.E. governors’ races, GOP sees a chance to build on gains
Senators voice optimism on public option
Health overhaul narrowly advances
Latinos, blacks take harder hit amid recession
Some lawmakers push back Catholic church on health care bill
Support wanes for curbs on credit-card interest rates
Obama domestic agenda largely a one-party effort
Beirut attack victims’ families face new hurdle
- Home
- |
- Today's Globe
- |
- News
- |
- Business
- |
- Sports
- |
- Lifestyle
- |
- A&E
- |
- Things to Do
- |
- Travel
- |
- Cars
- |
- Jobs
- |
- Homes
- |
- Local Search
Why can't McCain speak for himself instead of going through one of his advisors reading talking points that are factually incorrect?? The middle class is the big winner in Obama's tax plan, and it's on the backs of the middle class that our economy will recover. Consumers account for 70% of our economy, and Obama's tax cuts for the middle class will give them the weekly cash flow needed to increase consumption of consumer goods and services...
Entrepreneurs will have no incentive to work hard and expand their business. When they will stop hiring there are fewer jobs. Fewer people working = less taxes collected. THERE WILL BE NO MIDDLE CLASS TAX CUTS. Duval Deville has not kept his PROMISE to lower property taxes. Obama can not reduce taxes without Congress’ approval which he will not get. You Kool Aid drinkers believe in the tooth fairy too?
Obama's financial ideology reflects that of those who support him. Spend spend spend. Don't worry about whether you can afford it, you want it now! Its only money right? Can you put universal health care on a credit card?
Then when your drowning and debt and your house gets forclosed what do you do? Blame Bush!!!
Hinged I agree with you 100%
If you really liston to McCain. the things he is promising to do, if he is elected.
President Bush has already put them into play. So with out a doubt there will be more of the same. It's right in front of us.
Obama states he has Released My State Records - NOT EXACTLY, as of March,
2008, state bills he sponsored or voted for have yet to be released,
exposing all the special interests pork hidden within.
Obama says he is Tough On Terrorism - NOT EXACTLY, you missed the Iran
Resolution vote on terrorism and HIS good friend Ali Abunimah
supports the destruction off Israel .According to the Democratic agenda our constition is flawed was printed in web because:
We are a nation whom refuses to be without the right to lobby.
Lobby is the means with which WE THE PEOPLE can make government do what we need for them to do to protect our SOCIAL SECURITY and MEDICARE without privatizing and without reduction of benefits without being trampled over by business and special interests to protect the public.
The only one's whom lose without the right to lobby are WE THE PEOPLE. let's face it business will always have the money to make it's voice heard without the right to lobby.
The REPUBLICANS are committed to being "open" to avenues to protect SOCIAL SECURITY and MEDICARE without the loss of services and without privatizing.
We need to vote REPUBLICAN and then AFTER kick into lobby groups whom for as little as 1-5 dollars a year (some give more if they have more) they send the public newsletters and work with CONGRESSMEN AND SENATORS to protect MEDICARE AND SOCIAL SECURITY without loss of services and without privatizing.
This is the beauty of the 'checks and balances" that is the 2-way street that makes the wheels of our FREE democratic system work so well.
According to the Democrats our constitution is flawed because:
We are a nation whom refuses to accept Socialistic healthcare.
Let's face it socialistic healthcare has no plus side to it and never will. It only grants the medical community the right to not care if someone dies while waiting for treatment. Why would anyone want this???
What we as American's need to see as the "real flaw" is to accept a Nation whom refuses to realize that we need to tie our exit to political progress people. It will kick start jump our economy OUT of RECESSION 'mode' and place us squarely in re-building phase 'mode" which we should have done this a long time ago. Wall street will then make the gentle sideways move instead of the downward trend it's facing at the moment.
Honestly, How could we have missed the point??? 911 occurred before Bush got a chance to clean the conffetti off of his suit.
This is no time to panic and there is no time to waste. This election is not about race. Rather than lashing out to those whose views are so vastly different from ours we need to take our knowledge and simply talk to everyone about the issues at hand. In our fast paced society it's easy to lose sight of issues. So the fine art of conversation will not go wasted to tell people to get out there and v-o-t-e!!
Vote REPUBLICAN so we can kick jump start our US economy and everyone and businesses OUT of RECESSION 'mode" and get US economy and everyone's economy and businesses back to work full speed ahead!!!
Looking forward to seeing everyone at the polls!!
@ AussiFaire.... um The Republicans got us into this mess.... Yea, so, no, don't vote for a party that screwed me.
John McCain & Republican’s tax breaks DO redistribute wealth.... to the wealthy & give back very little to most of us. How hypocritical of John McCain. Between 2003/2004, after tax income for the richest 1% of Americans went up 20%, Middle America...up 3.6%. The top 10% of Americans earn 48.5% of all income, earn 15x as much as the bottom 10%, & had income go up in 2005. For the rest of us in 2005, income went down. Obama wants Middle America to benefit from tax breaks for a change and wants the wealthiest 10% of Americans to contribute to the country & pull their weight. The Republicans will tell you that by giving the wealthiest more tax breaks; those benefits will ‘trickle down’ to the rest of us thru investments in the economy, stock market, companies and jobs. OH REALLY? That sure hasn’t happened for the last 8 years. Seems like nothing has ‘trickled down’ as the gap between the wealthiest and the middle class is the greatest it has ever been. The wealthy are pocketing these breaks while the rest of us struggle. Instead of the Republican steal, Obama wants all Americans to benefit from income growth, not just the wealthiest 10%.
Everyone should stop acting like the mean evil top 10% are all living like kings while the rest of us are slaves or something. What America do you live in? Some people are rich... who cares? So they can afford more material things. Last time I checked, the middle class doesn't have it that bad. They sure do like to complain though! Come to think about it, we take care of the poor pretty good too. This is America. Stop complianing. If you want to be wealthy, work hard, stop spending, and stop looking for handouts.
McLiar says "According to the independent Center for Data Analysis, Barack Obama's new policies will destroy nearly 6 million jobs over the next decade."
Center for Data Analysis report actually says under the Obama plan
"Average job increases equal 915,800 over the 10-year period."