subscriber servicessubscribecontact usabout ussite mapBuy a Classified
Mon, Nov 09 2009 

Published: March 30, 2008 02:08 pm    print this story  

UPDATE — Presidential candidates propose rival economic recovery plans, one may make next budget

By TOM RAUM (AP)
Associated Press

WASHINGTON Hillary Rodham Clinton, Barack Obama and John McCain have diagnosed the swooning U.S. economy and have come up with rival plans to revive it. If the downturn lasts as long as some economists predict, one of the three will get a chance to try to sell his or her proposal to Congress as president.

Or if the economy hits bottom before Inauguration Day and then turns up, the victor may be handed a rare gift: the chance to begin a presidency presiding over the early stages of a rebound.

Take your pick. Who knows where the economy will be in nine and a half months?

As economic clouds darkened last week, all three candidates delivered major speeches on the economy while the Bush administration prepared a plan to give the Federal Reserve new regulatory powers over the financial system.

Democrats Clinton and Obama outlined competing $30 billion stimulus packages to help homeowners facing foreclosure and other victims of the financial crisis. This would be on top of the $168 billion stimulus package of rebates and temporary tax cuts passed by Congress last month and signed by President Bush. Both Clinton and Obama also called for broader financial regulation.

Republican John McCain advocated voluntary action by lenders, more transparency in the lending process and the convening of a national conference of accountants and mortgage lenders to review how real estate is valued. He opposed large, taxpayer-financed bailouts but backed cuts in corporate tax rates and making permanent expiring Bush tax cuts.

The two Democrats are calling for a more activist role for the U.S. government to protect individuals. McCain is echoing standard GOP dogma of protecting markets and opposing bailouts.

print this story  



autoconx
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Premium Jobs

Tow Truck Driver
Tow truck dri vers needed Full Time. Apply at Marks Sunoco & Towing, 2395 WhiteHall Blvd.
WhiteHall WV 366-5765
...>MORE

North Central WV CAA Head Start
Program Specialist - Nutrition/Safety North Central WV CAA Head Start - Minimum of LPN Certification and two years exper...>MORE

Customer Service Professionals
Customer Service Professionals
Receive in-bound
calls only!

Nothing is sweeter than a great career,
...>MORE

Safety & helath Inspector Screening
COAL MINE
SAFETY AND HEALTH
INSPECTOR
FEDERAL EMPLOYMENT
SCREENING

7:00AM

Nov
...>MORE

Early Learning Center Supervisor
Early Learning Center Supervisor - Supervisor needed to direct all activities and operations, including regulatory, budg...>MORE

West Virginia University Hospitals (
TRUCK DRIVER
West Virginia University Hospitals (WVUH) – United Linen Services has a full-time position open for a
...>MORE

HRDE
Resident Manager
Position Available
Morgantown, WV
Immediate opening for Resident Manager of 122-Unit,
...>MORE

Sales Professional.
Jack’s Furniture Center seeks full-time
Sales Professional for showroom sales.
Excellent commission plan plus
...>MORE

Bartender
Become a
Professional Bartender
• “Hands-On-Program”
• Mixology Certification
• Job Placement Assist
...>MORE

Administrative Secretary
Pierpont Community and Technical College is seeking to fill the full time position of Administrative Secretary.  Please ...>MORE

See all ads


 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2009. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index