Economic Stewardship

In this time of economic transformation and crisis, we must be stewards of this economy more than ever before. We will maintain fiscal responsibility, so that we do not mortgage our children's future on a mountain of debt. We can do this at the same time that we invest in our future. We will restore fairness and responsibility to our tax code. We will bring balance back to the housing markets, so that people do not have to lose their homes. And we will encourage personal savings, so that our economy remains strong and Americans can live well in their retirements.

We must reform our tax code. It's thousands of pages long, a monstrosity that high-priced lobbyists have rigged with page after page of special interest loopholes and tax shelters. We will shut down the corporate loopholes and tax havens and use the money so that we can provide an immediate middle-class tax cut that will offer relief to workers and their families. We'll eliminate federal income taxes for millions of retirees, because all seniors deserve to live out their lives with dignity and respect. We will not increase taxes on any family earning under $250,000 and we will offer additional tax cuts for middle-class families.

We will ensure that the foreclosure prevention program enacted by Congress is implemented quickly and effectively so that at-risk homeowners can get help and hopefully stay in their homes. We will work to reform bankruptcy laws to restore balance between lender and homeowner rights. Because we have an obligation to prevent this crisis from recurring in the future, we will crack down on fraudulent brokers and lenders and invest in financial literacy. We will pass a Homebuyers Bill of Rights, which will include establishing new lending standards to ensure that loans are affordable and fair, provide adequate remedies to make sure the standards are met, and ensure that homeowners have accurate and complete information about their mortgage options. We will support affordable rental housing, which is now more critical than ever.

The Latest »

President-Elect Obama to Tackle Economy ''Head On''

November 7, 2008 - President-elect Barack Obama delivered his first press conference since Tuesday night's presidential election, and took the opportunity to address the ailing economy.
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''Rearview Mirror''

October 30, 2008 - Wonder where John McCain will take the economy? Look behind you. We can't afford more of the same.
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On the Air

October 29, 2008 - Check out the latest television ad put out by the Obama campaign.
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Stunning Admission by McCain Camp on Healthcare Plan

October 28, 2008 - John McCain's healthcare plan will ''blow up'' the employer-based system and healthcare experts are not so hot on that idea.
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Another Former Republican Senator for Obama

October 28, 2008 - In an op-ed printed in the Washington Post this morning, former Maryland Senator Charles Mathias (R) endorsed Senator Barack Obama. Mathias served in the House of Representatives from 1961 until 1969 when he was elected to the U.S. Senate and served until 1987.
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A Panel of Economic Advisers Minus Two

October 28, 2008 - John McCain held an economic panel with two former high-profile advisers nowhere to be found.
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Former GOP Senator Votes Absentee for Obama

October 27, 2008 - Senator Barack Obama earned the support of former South Dakota Senator Larry Pressler (R), Politico reported this weekend. Pressler was the first Vietnam veteran to serve in the United States Senate.
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McCain 2000 Defended ''Progressive Taxation''

October 24, 2008 - In 2000, John McCain appeared on the Hardball with Chris Matthews College Tour at the stop on the Michigan State campus. Back then, he defended the progressive tax system from charges of ''socialism,'' saying there was ''nothing wrong'' with paying ''somewhat more'' when ''you reach a certain level of comfort'' -- read: rich.
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How Much Would You Save?

October 24, 2008 - It is no surprise that John McCain continues to lie and distort Senator Barack Obama's record on taxes, and his plans for middle-class tax relief -- the Washington Post reported this morning that Senator Barack Obama's middle-class tax cuts are resonating with voters.
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McCain Claims He Hasn't Flipped on Anything from 2000

October 23, 2008 - John McCain told the local CBS affiliate in Washington, D.C. that ''I'm the same guy'' from 2000, claiming that he hasn't flipped on any issue since his last run for the presidency.
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