Ellington

Per Bloomberg today:

Democrat Barack Obama proposed easing access to retirement accounts and imposing a 90-day moratorium on foreclosures for some homeowners as part of a plan to boost the economy and aid middle-income taxpayers. ``At this rate, the question isn't just, are you better off than you were four years ago?, it's, are you better off than you were four weeks ago?'' Obama said in a speech today in Toledo, Ohio. ``We face an immediate economic emergency that requires urgent action.''

Among other measures, Obama wants the Federal Reserve and Treasury to lend money to state and municipal governments that are having trouble raising money and for federal lawmakers to ``keep all options open'' to help struggling automakers. The Democratic presidential candidate's advisers say all of the measures, including a $3,000 tax credit to companies for each new job they create in the U.S., should be done immediately, either through existing authority or emergency legislation.

Previous Comments

ID

139002

Comment

More from The New York Times on Obama's new plan.

Author

DonnaLadd

Date

2008-10-13T16:08:26-06:00

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139009

Comment

Here's the full text of Obama's economic speech today. Can't wait for Wednesday's debate.

Author

DonnaLadd

Date

2008-10-13T17:57:18-06:00

ID

139018

Comment

Finally a "bail out' for the middle class. I admire Barack's ability to stay focused on the issues and to consistently address them with real proposals. This latest economic plan is brilliant. I am in no way a finacial analyst. By brilliant I mean that he has this plan focused to give the middle class some 'breathing room'. Lord knows we need it.Barack is true to his campaign agenda and is fighting for the middle class and small business. Those two are the cornerstone of our economy and will be so for any expected recovery to flourish. Great article...I cannot wait to vote and much moreover I will be exceedingly thrilled to see Michelle make her first public appearance as our next First Lady.

Author

Little Charlie

Date

2008-10-13T20:45:18-06:00