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Blueprint for Change: Economy

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I am announcing a two-part emergency plan to help struggling families make ends meet. The first part of my plan is a $1,000 emergency energy rebate that would go out to families this fall to cover rising prices not only in gas but also in home fuel. Now the second part of my plan is 50 billion dollars in stimulus to help jump start job creation and help local communities that are struggling due to our economic downturn. If you make $250,000 per year or less, we will not raise your taxes. We will cut your taxes. In fact... my plan provides three times the amount tax relief to middle class families than John McCain does. So I am happy to have a debate about taxes with John McCain. I already proposed, that we are going to invest 15 billion dollars a year… …15 billion dollars a year in new green technologies that can create up to five million jobs a year, rebuilding our economy with clean energy solar, wind and bio-diesel. We’ll put young people back to work insulating homes, we are going to create the new cars of the future... the plug in hybrids that get 100 miles a gallon, and we are going to make them right here in the United States of America. As president I’ll get though on enforcement and raise penalties on lenders who have broken the rules. For homeowners facing foreclosure through no fault of their own, we’ll create a fund and reform bankruptcy laws to give them a shot at avoiding foreclosure. We’ll mandate that prospective homebuyers have access to accurate, complete information about their mortgage options. And we’ll give middle class homeowners added relief by providing a tax credit that covers 10 percent of families mortgage interest payments every year. That’s the change that America’s homeowners need right now, and our entire economy can use it as well. Half of all personal bankruptcies arise because somebody has a serious illness. That will change when I am president. If you can demonstrate that you went bankrupt because of medical expenses, under my plan you will be able to relieve that debt and get back on your feet. It’s also time to let our unions do what they do best, which is organize workers. If the majority of workers want a union, they should get a union, it’s that simple. We need to stand up to the business lobby that has been resisting it and go ahead and pass the Employee Free Choice Act. That’s why I’ve been fighting for it in the Senate, and I’ll make it the law of the land when I’m president of the United States of America. It’s because of this long standing commitment to working families that I will not sign any trade agreement as president that does not have protections for our environment, and protections for American workers. And I intend to pass the Patriot Employer Act that I have been fighting for ever since I ran for the Senate so that we can end tax breaks for companies that ship jobs overseas and give those tax breaks to companies that create good jobs, with decent wages right here in the United States of America. I will double spending on quality after-school programs so that you can know that your children are safe and secure. And that’s why I’ll expand the Family Medical Leave Act to include more businesses and millions more workers to let parents participate in school activities with their kids… and to cover elderly care. And we’ll finally put federal support behind state efforts to provide paid medical and family leave. We will require employers to provide seven paid sick days each year. We’ll enforce laws that prohibit caregiver discrimination, and we’ll include flexible work schedules to better balance work and parenting for mothers and fathers. That’s a change that working families need all across America.

Video Details

Duration: 4 minutes and 9 seconds
Country: United States
Language: English
Genre: None
Producer: OFA
Director: New Media
Views: 4,378
Posted by: rpena on Oct 30, 2008

Barack Obama outlines the major points of his economic plan.

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