Barack on Budget & Economy

Ok…I’m a bit tired of the personal attacks flying back and forth between the Obama and McCain campaigns (and for the record, if you put lipstick on a pig, it IS still a pig). I know deep down in my soul that I have been part of the problem, but I got distracted by Sarah Barracuda for a minute.   I’m truly interested in the policies that candidates have a position on. So, without further adieu…

Obama’s stance on Budget and Economy

A different economic approach vs. McCain’s 4 more years. (May 2008)

Can’t do anything at home with $12 billion a month on Iraq. (Feb 2008)

Protect consumers with Credit Card Bill of Rights. (Feb 2008)

More accountability in subprime mortgages. (Feb 2008)

Bush stimulus plan leaves out seniors & unemployed. (Jan 2008)

Voted against limiting credit to 30%, because 30% too high. (Jan 2008)

Account for every single dollar for new proposed programs. (Jan 2008)

Help the homeowners actually living in their homes. (Jan 2008)

Bankruptcy bill pushed by banks &. (Jan 2008)

Lack of an energy policy is a financial burden. (Jan 2008)

Bush & GOP dug budget hole; need years to dig out. (Dec 2007)

Save $150 billion in tax cuts for people who don’t need them. (Dec 2007)

Take China “to the mat” about currency manipulation. (Dec 2007)

Rejects free market vision of government. (Oct 2007)

Regulate financial instruments to protect home mortgages. (Aug 2007)

Government regulation needed for when markets fail. (Aug 2007)

Return to PayGo: compensate for all new spending. (Oct 2006)

Bush’s economic policies are not working. (May 2004)

Supports federal programs to protect rural economy. (May 2004)

Voted NO on paying down federal debt by rating programs’ effectiveness. (Mar 2007)

Voted NO on $40B in reduced federal overall spending. (Dec 2005)

Get minorities into home ownership & global marketplace. (Jan 2001)

Require full disclosure about subprime mortgages. (Dec 2007)

Reform mortgage rules to prevent foreclosure & bankruptcy. (Feb 2008)

 

There are a few standout quotes from these bullet-points:

Part of the reason that Kuwait and others are able to come in and purchase, or at least bail out, some of our financial institutions is because we don’t have an energy policy. We are sending close to a billion dollars a day. A realistic plan is going to reduce our dependence on foreign oil, and to invest in solar & wind & biodiesel. That would make a substantial difference in our balance of payments, and that would make a substantial difference in terms of their capacity to purchase our assets.

Source: 2008 Democratic debate in Las Vegas Jan 15, 2008   

Or this one:

Q: Would it be a priority of your administration to balance the federal budget every year?
A: Over the last seven years, what we’ve seen is an economy that’s out of balance because of the policies of George Bush and the Republicans in Congress. Not only do we have fiscal problems, but we’ve got growing inequality. People are working harder for less and they’re seeing costs go up. So what I want to do is get the long-term fundamentals right. That means that we are investing in education & infrastructure, structuring fair trade deals, and also ending the war in Iraq. That is money that can be applied at home for critical issues.
Q: So a priority to balance the federal budget, or not?
A: We are not going to be able to dig ourselves out of that hole in 1 or 2 years. But if we can get on a path of sustained growth, end the war in Iraq, end some of the special interest loopholes and earmarks that have been clogging up the system, then I think we can return to a path of a balanced budget.

Source: 2007 Des Moines Register Democratic debate Dec 13, 2007

 

Update: (9/11) I forgot to mention that this information is courtesy of On The Issues. This website has information on all the candidates, and go back to at least the 90’s. I’ll pick out my favorite ones in the next few days.