Obama unveils $75 billion economic stimulus plan

http://the.honoluluadvertiser.com/article/2008/Jan/13/br/br9381247650.html">Obama unveils $75 billion economic stimulus plan
Posted at 8:13 a.m., Sunday, January 13, 2008
Associated Press

LAS VEGAS — Democratic presidential hopeful Barack Obama unveiled a $75 billion economic stimulus package today that his campaign said would put an immediate $250 in the hands of workers and seniors, stem the foreclosure crisis and cover state budget shortfalls.
The plan, which expands on his campaign platform, outlines tax relief well ahead of a decision on who will secure the Democratic nomination or which candidate will win the general election in November.

"Obama believes we cannot wait until he becomes president to give workers the tax relief they need," according to a policy paper sent to The Associated Press.

Obama, the senator from Illinois, called on the government to make available a $250 tax credit to 150 million workers in an offset of the payroll tax on the first $8,100 of earnings. He urged a further $250 tax credit per worker if employment declines three months in a row.

He would also bump up Social Security payments to seniors who would not benefit from the credit with a one-time $250 payment, with another $250 if employment declines three months straight.

The relief would cost $45 billion, plus another $45 billion if the economy weakened.

Obama also pledged $10 billion to increase pre-foreclosure counseling and help "responsible homeowners" refinance their mortgages or sell their homes.

The plan also calls for $10 billion for states and local governments that have seen revenue shortfalls as a result of the housing crisis, caused by falling property values and sales tax declines.

In addition, Obama called for $10 billion to lengthen the period of eligibility for those receiving unemployment insurance, while loosening the criteria to become eligible to include many part-time and nontraditional workers.


http://the.honoluluadvertiser.com/article/2008/Jan/13/br/br9381247650.html

Stealing his ideas again.

You need to contact your candidate's campaign off to urge them to stop the dirty politics in Nevada. the lawsuit concerning onsite caucus locations must be dropped!

and they are both basically worthless, but I do not agree that Obama's is more detailed etc etc etc.
They are both bandaids.

"This one goes to eleven!"

Although, as a senior on SS, I like the idea of $250 dollars. How are either of these plans going to get funded? Anybody got a link for that?

she tried to talk about it on MTP, but Timmy was more interested in keeping the racism smear going.

They use it ALL the time.

It's a very annoying word.

problem solved. i can t wipe my ass for $250...don t insult us with bullshit!

This isn't about you.

That didn't exactly work.

Not that I'm defending Republican tax cut policies, because I'm not. Tax relief during a time of recession is a standard economic remedy. The thing is that Bush/Cheney campaigned on tax cuts when we were not in a period of recession. They had little interest in stimulating the economy, just giving money to those who don't need it.

You put more money into circulation to get out of a recession and you take money out to fight inflation. If you have both, you're pretty much screwed.

with trillions of dollars of debt...Where is the money going to come from?

causes. What needs to be done is corporate re-regulation, elimintion of certain tax write offs and shelters, unfair trade practices, reinstate worker equality ( in other words reformation of economic standards ).

End the War!

Rescind Tax Cuts for the Rich!

Outlaw OIL as toxic waste..