Obama Says He’s Better On the Economy Than McCain
MALVERN, Penn — Barack Obama is back in the Keystone State to make the case that he’s a better choice for middle class families than John McCain.
“We’ve got a very clear choice in this election,” he said. “If you believe our economy is on the right path, then John McCain is the right candidate for you.”
“Senator McCain has been a staunch supporter of Washington’s failed policies, and in this election he’ll offer more of the same policies that have set back working people.”
The Illinois Senator criticized his Arizona counterpart for flip-flopping on the 2001 Bush tax cuts — and for an economic agenda that doesn’t address the housing crisis. “I admired Senator McCain when he stood up and said the Bush tax cuts for the wealthiest Americans offended his conscience. That’s what he said. But he got over that, and now he’s all for them — and for continuing to do the same things that have taken us towards recession,” he said.
“His solution to George Bush’s fiscal mess is to make George Bush’s tax cuts permanent. His solution to the struggles of working people is reflected in his answer to the housing crisis, which is to sit idly by and hope it passes as millions of people face foreclosure and millions more watch the values of their home erode.”
Obama told the crowd “I intend to offer a new direction. That’s why I’m running for president.” Part of that new economic direction involves fixing Social Security in a way that doesn’t punish low income workers.
As an example, Obama told the crowd about his own low income job as a teen — scooping ice cream at a Baskin Robbins. “It was actually kind of embarrassing,” he said, “because you had to wear the brown cap and stuff, the apron. Girls would come in, you’d be trying to talk to them. They wouldn’t give you the time of day because you were in this cap.”
As the crowd laughed, he said “I was making, I don’t know, like, maybe $100 a week or something, and they were still taking all this money out. I thought, man! That’s the payroll tax. So it’s already regressive, I don’t want to raise the tax on people not making a lot of money already.
Tags: barack obama, economy, john mccain, pennsylvania
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Somebody Put A Leash On Olbermann?
——————————————————————————–
KEITH OLBERMANN hasn’t critisized Hillary today. I think someone put a leash on him….
The one who’s really good on the economy is Romney -
he pumped millions into the economy in his futile attempt to purchase the presidency.
P.S. If anyone else comes into this compound to steal my wives and their children, you’re toast!
So far, over 400 of our hottest LDS babes have been carted off in church buses…
all because our religion urges us to impregnate and abuse 13 year-old girls.
What a crock!
anyone else removed themself from the mass market media frenzy?
——————————————————————————–
I’m just curious about something since television and news media have played such a huge part in this election so far, has anyone else removed television from their life completely? I know it sounds crazy right? But a little over a year ago money was tight around here (still is actually - thanks George Bush) and so it just made since to me to save money cut out a non necessity like cable. At first I missed my Law and Order and CSI (but since the writers strike guess I didn’t miss much) but I realized that without the constant infiltration of mass market media that I had a lot more clarity. I go online for local news and weather updates, but as far as all the advertisements and media hullabaloo I pick and choose what I want to look at online and the news articles that I choose to read.
Ok I know this is getting long, but it seems that Obama’s largest influx (from what I’ve read) of supporters are being reeled in through the mass market media. That is why it’s so hard for me to see why anyone would vote for him, if they weren’t being hypnotized by his soothing voice and smoth lines on television.
Anti-Semitic Blog still up on Obama site
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This ugly anti-Jewish blog is still being allowed to stand at Obama’s offical website. People of goodwill and Jewish voters must REJECT this candidate!
http://my.barackobama.com/page/commu…acticca/gGggBH
Hi, Holly!
Been busy (and I have to get back to work in a minute), but it’s good to hear from you, as always.
So Obama says he is good for the economy huh ? Well take a good look at what he did for the southside of Chicago ! Just a slick talker who would steal the coins off a dead mans eyes.
Hillary: “Patreus…why must you continue to lie about the troop surge? This war is destroying our country!”
Media: “What a dumb question…man..”
Obama: “Patreus…why must you continue to lie about the troop surge? This war is destroying our country!”
Media: “OH! That was amazing! What GRAVITAS! I feel a tingle going up my leg!”
____________________________________________
“Over the past few days I have listened to you…and in the process…I have found my own voice.” - Hillary Clinton, after stunning the world and winning the New Hampshire Primary.
Hillary: “Patreus…why must you continue to lie about the troop surge? This war is destroying our country!”
Media: “What a dumb question…man..”
Obama: “Patreus…why must you continue to lie about the troop surge? This war is destroying our country!”
Media: “OH! That was amazing! What GRAVITAS! I feel a tingle going up my leg!”
Good Day Hillary Bloggers. Hope all is well where you are.
Our mission today, if you choose to accept it, is to first read Taylor’s blog on Morning Joe. Then I would like to kindly suggest we all go to the MSNBC website to the Morning Joe page and send Joe an email telling him how we appreciate his fiarness. As a guy who never vote for Hillary (or maybe he would, my brother is a Republican and wants to vote for her as he doesn’t like McCain), Joe seems to be one of the only pundits on MSNBC who sticks up for Hillary and her supporters.
May I also suggest we all go out to CQ politics and thank Craig Crawford for bringing up some good points on Morning Joe today about that recent poll.
Morning Joe. http://www.msnbc.msn.com/id/3036789/
Donations for Protest on April 11 - This is Our Suggestion…
——————————————————————————–
OK… there’s no good way to set up Paypal because it involves either someone’s personal account or their business account.
So, I’m making a trade with everyone.
I’m going to host a sign making party for those of us from the Forum who will be there and in exchange for my getting all the supplies we need….
I’m asking for people to do extra blogging, write the media, get the word out or donate directly to HRC campaign (via the forum referral link below).
http://www.hillaryclinton.com/contribute/H4K5
If you are going to be in NYC for the event please let me know so that I can give you the location and I can have an idea of how many of us there will be.
For those of us from the Forum, it would be nice if our signs could be somewhat uniformed… by that I mean how they are constructed, color them, word them design them however, but I just want to know how many posts, etc to get.
Also, if there is anyone who can come to the Rally, but can not make a sign, I will do it for you if you like.
If there is anyone out here who wants to come to NYC from somewhere else and would like some assistance in doing that, then please email me or PM about it.
I AM NOT REAL HOLLY
I AM SAM
BUT SOMETIMES I LIKE TO POST SOME GOOD STUFF FOR WOMEN
SO I USE SOME GIRL NAME
SO I WAS USING HOLLY SINCE THIS AM
http://www.hillaryclintonforum.net/discussion/
GO TO THIS WEBSITE
WHY ?
http://www.ironmyvote.com
check it out
for hill supporters or anyone who wants to
Women must unite to break the ultimate glass ceiling
Women united for the right to vote…
Women united for peace…
Women united for fair wages…
Women united for better working conditions…
Women united for protection against discrimination in the workplace…
Women united for equal rights for women of color…
Women united for birth control…
Women united for equal education and employment opportunities…
Women united for equal division of property in a divorce…
Women united for the right to privacy…
Women united for the right to equal access to consumer credit…
Women united for the right to obtain safe and legal abortions…
Women united to make it illegal for a husband to rape his wife…
Women united to ban discrimination against pregnant women in the workplace…
Women united to ban sexual harassment in the workplace…
Women united to protect victims of rape…
See: http://www.infoplease.com/spot/womenstimeline1.html
When women attack each other, it makes us all look bad
http://www.youtube.com/watch?v=sN1qZMBE9Gc
this is the meanest woman ever
and i am proud to be american
america who opens its borders to everyone
america where we stand together in good and bad times
america who still helps other countries even in thier own bad times
i am a proud american
http://www.youtube.com/watch?v=kcdnlNZg2iM
I AM ENERGIZED AFTER WATCHING THIS VIDEO
SHAME ON ALL THE MEDIA AND WHOEVER SUPPORTS OBAMA
Hillary is a lost cause. She hasn’t gained any ground since ever. It is time for Queen of the Hill to get out of the race after she barely scrapes by in Penn. McVain is now going to dip into public campaign funds, after he told reporters that it wasn’t the governments place to help irresponsible americans with their housing problems. How about the irresponsibility of the campaigners who run bad campaigns and have no hope of winning because the actuality of the the situation is no one will give him any.
Obama 08
The nine worst words put together in the English language:
“I’m from the government and I’m here to help.”
That is was Obama is offering. We still see how well FEMA has helped New Orleans, haven’t we? So we want more government? And don’t blame the republicans on how that was handled, remember Both the city and the state had Dems in charge long before Katrina hit. So yes, Obama will help, but with 100s and 1,000s of miles of redtape. By the time that’s done, the housing crisis will be fixed and all that lovely government money (i.e. YOUR money) will have gone to waste.
Barack, you must have looked great in the Baskin Robbins hat even with the apron. I bet those girls are sorry now.
To get on with it, I am better on the economy than McCain. McCain admits to being clueless on the economy. I really saw this real estate and credit mess coming a long time ago so maybe I’m better than Bernanke too.
But really, Bill Clinton was very good on the economy - so don’t push it Barack.
I think you should wear the Baskin Robbins outfit on Letterman and let us decide.
Good quotes!
**
G Gordon Liddy Quotations
“Why is it there are so many more horses’ asses than there are horses?”
” A liberal is someone who feels a great debt to his fellow man, which debt he proposes to pay off with your money.”
AMERICAN CONSERVATIVE
HEY WHERE THE HELL ARE YOU GOING? TO WORK–WHAT A LAME EXCUSE. I TOLD YOU LAST EVENING THAT TODAY IS THE DAY WE FACE OFF. JUST YOU AND ME. I WAS TO PIT MY DEBATING SKILLS AGAINST THE BLOGS MASTERBATER. GOING TO WORK–THAT JUST SOUNDS LIKE A WEAK EXCUSE FOR SOMEBODY WHO’S GONNA (IN THE WORDS OF O’REILLY) HIDE UNDERNEATH HIS DESK. *****************THOSE ARE CHIKEN CLUCKS***********MORE OF EM.**********MORE.
DON’T THINK ANYTIME YOU CATCH ME ON THE BLOG IM GONNA BE READY TO DEBATE. I LIKE TO PREPARE FIRST-LIKE I STUDIED ALL LAST NIGHT JUST TO GIVE YOU SMACKDOWN YOU WOULDN’T SOON FORGET– AND NOW WHICH ALL YOU GOT TO SAY IS IM GOING TO WORK–WELL WHICH ALL I HAVE TO SAY IS*******************
THIS IS THE FIRST IVE HEARD THAT YOU WORK–I ALWAYS THOUGHT YOU WERE RETIRED.–THEN WHY DO YOU WEAR DIRTY DIAPERS?
That is utterly ridiculous Mike. The I’m from the government an I’m here to help was funny though. It was not up to the people of New Orleans or Louisiana. FEMA came in prior to Katrina hitting and took charge and as we all know it was a worst disaster than the Hurricane. Homeland Security which gobbled up FEMA declared marshall law in all places Katrina was about to hit and the Bush administration didn’t even allow any flow of money into disaster zone for five days. FEMA decided to put displaced people in the Super Dome, the guy in charge of FEMA handpicked by Bush decided it wasn’t worth the risk to move the millions of people that were in the path of this monster storm. Since your misguided let me inform you that Obama is not for bigger governmet that of course is your conservative side showing. Obama is for people being their own person. Diplomacy in the face of war, and growing a failing economy with green jobs.
Obama 08
Hmmm…
“Obama Visits Billionaires Row
San Francisco, April 6, 2008
[snip]
“to this article (and many others), Obama’s campaign is claiming he raises his money from small donors:
‘When you’re given the gift of advocacy, you don’t sell it to the highest bidder,” Mrs. Obama said. Mrs. Obama stressed how her husband has relied on “regular folks” instead of big donors. Instead of thousand-dollar donations, the Obama campaign has raised millions on small checks of $20 to $50. Mrs. Obama sees this participatory attitude as a new trend.’
Wait just a minute there. If you do the math, on just this one day in the Bay Area, Obama went to four events, three of which had $2,300 minimum donations per ticket, and the other $1,000 minimum per ticket. Each of the events, from the various descriptions, held as many as 400 people (the Getty mansion has a ballroom that reportedly seats at least 300). 400 x $2,300 = $920,000 per event, times three events = $2.76 million, plus the other event, which undoubtedly puts him over $3 million in contributions for this one day alone. And who knows how many other similar days he schedules in other parts of the country.
Michelle Obama (and other Obama campaign spokespeople) aren’t telling the truth. It seems that a signficant portion of Obama’s monthly campaign contributions are coming from “large donors”‘ — i.e. rich people, not just the “$20 to $50″ donations they’re constantly bragging about.” [sni]
http://www.zombietime.com/obama_visits_billionaires_row/
TO ALL DEMOCRATS READ THESE FACTS ABOUT GOP PLAN TO DESTROY HILLARY CLINTON>>>
Have you ever wonder ????? READ THESE FACTS>>>
WHY GOP surrogates such as FOX news, and other conservative Media personalities are doing all they can to destroy SENATOR CLINTON CAMP???
- RUSH LIMBAUGH - THE AUTHOR OF “OPERATION CHAOS” -”WHICH VERY PURPOSE IS to make an impression reverse to what was intended” - to trick and produce a perception upon the minds of Democrats supporters that SENATOR HILLARY CLINTON is only winning because of this operation, but in reality is trying to help BARRACK OBAMA to clinch the nomination.
TO ALL DEMOCRATS PLEASE READ THE FOLLOWING FACTS>>>
Why the GOP Loves Obama
Wednesday, February 20, 2008 10:27 PM
By: Christopher Ruddy Article Font Size
Republicans this week are breathing a deep sigh of relief.
What was seen as a washout for them this coming November — with big losses expected in the House and Senate and a catastrophic loss of the White House — is now shaping up to be less ominous.
With the Democrats moving to pick Sen. Barack Obama as their nominee, the Republicans see a real opportunity to keep the Oval Office in GOP hands.
There is no question that the Republicans had viewed Hillary Clinton as the most formidable of the Democratic candidates.
During one of the primary debates, Obama suggested that the Republicans were “comfortable” attacking Hillary, suggesting they actually wanted her to be the nominee. Au contraire.
Republicans were attacking Mrs. Clinton because they believed she would be the nominee. They could hardly foresee Obama’s rise.
Indeed, she was the Democratic front-runner and hence the focus of their attacks. Now, Obama is discovering that he’s the focus of Republican scrutiny, with John McCain highlighting Obama’s accommodationist views with tyrants.
The glee seen in GOP eyes this week can be chalked up to the clearly visible fault lines shaping up for the November election, a seismic battle between McCain and Obama.
There are many reasons the GOP would rather face Obama. Here are some of the best reasons:
Obama is the risky liberal. Every time the Democrats run a liberal like Obama, who the National Journal reports has a 100 percent liberal voting record, they lose.
Remember President McGovern, President Dukakis, President Kerry? Mrs. Clinton, however, has been quite clever in her record and rhetoric to come across as more moderate. In New York state she consistently won hardcore Republican districts in her two Senate races.
A McCain insider told me this week that Obama’s support — for example, for driver’s licenses for illegals — is worth at least “five percentage points in the election.” Mrs. Clinton was smart enough to back away from that hot-button issue.
Obama energizes Democratic voters. It’s been talked about quite a bit that Obama is a charismatic man who energizes young voters. But young voters notoriously don’t vote.
Remember all the hoopla in the last election with MTV and its “Vote or Die” campaign to bring out antiwar young voters for President Kerry?
Indeed, Obama, as the first African-American candidate of a major party, will energize black voters. But don’t the Democrats know that black voters vote as a bloc for them already?
What does Obama actually bring to the table for Democrats? It’s not clear. Mrs. Clinton, as her longtime critic Dick Morris likes to point out, would have most assuredly energized women voters, especially millions of single moms that have never voted before.
Obama’s Latino problem. Clearly Latino or Hispanic voters are shaping up to be the key swing vote in this election, as they have been in recent elections. Some political pundits say George Bush’s come-from-behind win in 2004 was due to the solid 40 percent of Hispanics who voted for him, tipping the election in his favor.
This year was shaping up to be a terrible year for the GOP vis-à-vis Hispanic voters. But in primary after primary, Obama has had great difficulty winning over Latino voters.
Even in Illinois, where he beat Hillary to 2 to 1 in the primary, he only captured 52 percent of his home state’s Hispanic vote.
There are a variety of explanations for Obama’s Latino problem, including the belief there is an ethnic rivalry between Hispanics and blacks. Hispanics would like to see a Latino president in the White House, so the theory goes.
Mrs. Clinton, on the other hand, has done extremely well among Latino voters, perhaps owing to her husband’s likeability among these voters.
The recent primaries show Obama improving with Hispanic voters. Republicans, however, believe the problem with this key group will persist.
And then there is John McCain, who is the one Republican who is very well liked by Latino voters. He’s also a strong leader, which Hispanics respect. He’s pro-immigrant. As we all know, McCain joined Ted Kennedy in backing the recent immigration bill.
There’s little doubt Hillary could keep the Democratic stranglehold on Latino voters. Obama won’t.
Obama’s naiveté. Don’t forget, America is still in a war on terror. It is doubtful America will be tempted to go for an untested leader, no matter how charismatic he may be.
Some have drawn the comparison between Obama and JFK’s election win in 1960 during the height of the Cold War. But the Kennedy-Obama comparison is a weak one. For starters, John Kennedy was a war hero when he was elected president. Obama can make no such claim. Kennedy also had far more Washington experience in Congress and the Senate than Obama.
JFK also had his well-known father Joe at his side. And Democrats like to forget this, but Kennedy outflanked Nixon on defense issues, arguing that Nixon was too soft on communism. Obama’s dovish complaints about the Bush administration being too hawkish on terror won’t resonate with middle-of-the-road voters.
With good reason, the GOP is feeling better, finding its second wind as it coalesces around John McCain.
Despite some differences with the maverick senator, the Republican base will turn out for him. His $12 million fundraising haul for January is just one sign of that.
But there are many other reasons the GOP is more comfortable with Hillary out of the picture and Obama as the nominee.
First, Obama will not be able to lay claim to the good economic times of the 1990s that Bill Clinton presided over, as Hillary can. And Obama will be a nightmare for Democrats with swing voters in key states. Take for example the highly influential Cuban-American vote that Bill Clinton won in 1992 and 1996 — and was the key reason George Bush beat Al Gore.
The Cuban vote has been moving into the Democratic column but they will not go for Obama because he has clearly stated he will open up relations with Castro.
Sen. Clinton’s announced Cuba policies take a hard line, which resonates with these voters. And then there are the key Jewish communities in swing states like Florida and Ohio that are already deeply worried about electing Obama to the presidency.
Obama has talked openly about sitting down — without any preconditions — with Iran’s diabolical leader Ahmadinejad, who just this week referred to Israel as “bacteria” and has said in the past that the Jewish state is a “disgraceful blot” that should be “wiped off the map.”
With the McCain campaign blanketing key markets with TV ads featuring “independent Democrat” Sen. Joseph Lieberman, Obama will be in deep trouble.
The Democrats haven’t completely abandoned Hillary. But it sure looks that way.
There’s an oft-quoted saying that the Democrats “fall in love and Republicans fall in line.”
After this November, we may have to change that to “Democrats often like to run off the side of a cliff and the Republicans love to watch them.”
OUR APPEAL TO DNC LEADERSHIP AND ALL SUPERDELEGATES IS TO SUPPORT….
- SENATOR HILLARY CLINTON IF YOU WANT TO WIN BACK THE WHITE HOUSE.
- SUPERDELEGATE SHOULD VOTE BASE ON THE VERY PURPOSE WHY WE CREATED YOU…
- WHICH IS TO ELECT THE MOST ELECTABLE CANDIDATE WHO CAN BEAT GOP CANDIDATE…
- YOUR LOYALTY SHOULD BE FOR THE “PARTY AS A WHOLE” AND NOT FOR ONE PERSON…
This is a MUST WATCH BONUS!!!! visit this site…
http://www.youtube.com/watch?v=OfyHQ2PjLzk&feature=related
Comment by South Beach
April 9th, 2008 at 4:27 pm
…
But really, Bill Clinton was very good on the economy - so don’t push it Barack.
___________________________________________
South Beach
Bill Clinton was just lucky he served during the tech boom and had a Republican Congress and Senate.
Comment by Rj
April 9th, 2008 at 4:35 pm
TO ALL DEMOCRATS READ THESE FACTS ABOUT GOP PLAN TO DESTROY HILLARY CLINTON>>>
Have you ever wonder ????? READ THESE FACTS>>>
WHY GOP surrogates such as FOX news, and other conservative Media personalities are doing all they can to destroy SENATOR CLINTON CAMP???
_______________________________________–
Rj
Remember Hillary’s Bosnia sniper whopper? I was not surprised by it , just another lie I thought, but to people whom have been fooled by the Clintons crafted images-well it kinda put them back to say the least. So my point is, Hillary is doing enough herself to destroy her chance at the whitehouse-thank goodness, can’t stand the lady myself.
NY PROTEST OF HILLARY CLINTON REMAINING IN THE RACE - FRIDAY, APRIL 11TH, 8AM, ROCKEFELLER PLAZA, NEW YORK CITY
Supporters of the Democratic Party:
Join the Protest To Persuade Hillary Clinton to dropout of the race for the presidential nomination.
We demand that Hillary drop out!
We demand she never run for president again!
We demand that she resign from the Senate!
We demand that she leave politics forever!
FRIDAY, APRIL 11, 2008, 8am
Rockefeller Plaza, New York City
(W. 48th St & Rockefeller Plaza )
OBAMA IS THE MOST ELECTABLE.
National Poll:
Obama 50%
Clinton 41%
Obama 46%
McCain 45%
McCain 47%
Clinton 44%
Rasmussen Reports
Tells about Michelle Obama and her coodinator!!!! GET ME WHITE PEOPLE
The Carnegie Mellon University student newspaper The Tartan reports on preparations for a Michelle Obama appearance at the school:
While the crowd was indeed diverse, some students at the event questioned the practices of Mrs. Obama’s event coordinators, who handpicked the crowd sitting behind Mrs. Obama. The Tartan’s correspondents observed one event coordinator say to another, “Get me more white people, we need more white people.” To an Asian girl sitting in the back row, one coordinator said, “We’re moving you, sorry. It’s going to look so pretty, though.”
Rest of Story:
http://www.huffingtonpost.com/2008/04/08/obama-event-coordinator-g_n_95749.html
Jim I’m sorry to say that will never happen. Queen of the Hill will never relinquish her make believe birthright to be the President of the United States. I would join you if I was in or around NYC though.
Obama will win the nomination somewhere before the convention, most likely in NC. Keep up the support.
Obama 08
WELL,OBAMA WANTS TOO BRING BLACK PEOPLE FROM AFRICA AND SEND THEM TO SCHOOL HERE, I GUESS WE WILL BE PAYING FOR THAT IF HE BECOMES PRESIDENT. HOPE THE MAN DOESEN’T WIN. THE COUNTRY IS IN ENOUGH TROUBLE WITHOUT HIM ADDING TOO THE CAUSE. PEOPLE WAKE UP AND SEE HIM FOR WHAT HE REALLY IS ABOUT. OUR FAMILIES COME FIRST. SO TAKE TIME AND READ BETWEEN THE LINE WHEN HE IS TALKING.
Wow Sam must be nice to just make up stuff.
Obama 08
AMERICAN CONSERVATIVE
I hope you get this message soon.
Lookit i tried to look away a few months ago when you fist moved into my basement. I thought Id be cool with it and I really did want to get along with you but now all night long you’re making way to much noise behind the walls. I ignored it a week or so ago when you chewed through my cable and DSL and left me off line for a day. I’ve been more tolerant than most but now you’ve moved you’re whole family in downstairs and Ive got to put my foot down now. YOU LITTLE RAT B@$%$D YOU’VE GOT ONE WEEK TO FIND YOU AND YOU’RE FAMILY ACCOMODATIONS ELSEWHERE–1 WK IS ALL YOU’VE GOT THEN THE D-CON COMES OUT–UNDERSTAND
Sorry I know it is long..but it is best to hear from Obama’s own words.
March 27, 2008
Categories: Barack Obama
Obama talks cap-gains rate with CNBC
In an interview in conjunction with his big economic speech in New York, Senator Obama tells CNBC’s Maria Bartiromo he favors increasing the capital-gains tax rate.
Bartiromo reported after her interview: “Right now, as you know, the cap gains tax is at 15 percent. He has yet to give us a specific number. How high he wants that number to go? He has said, and he told me today, that he won’t go above 28 percent. So we are talking about the possibility of a doubling in the capital gains tax. He was averaging at about 25 percent.”
Here is her exchange with the senator:
BARTIROMO: “How do you plan to change the tax code when it comes to capital gains? How high will that 15 percent rate go?”
Sen. OBAMA: “Well, you know, I haven’t given a firm number. Here’s my belief, that we can’t go back to some of the, you know, confiscatory rates that existed in the past that distorted sound economics. And I certainly would not go above what existed under Bill Clinton, which was the 28 percent. I would–and my guess would be it would be significantly lower than that. I think that we can have a capital gains rate that is higher than 15 percent. If it–and if it, you know–when I talk to people like Warren Buffet or others and I ask them, you know, what’s–how much of a difference is it going to be if it’s 20 or 25 percent, they say, look, if it’s within that range then it’s not going to distort, I think, economic decision making. On the other hand, what it will also do is first of all help out the federal treasury, which is running a credit card up with the bank of China and other countries. What it will also do, I think, is allow us to make investments in basic scientific research, in infrastructure, in broadband lines, in green energy and will allow us to give us–give some relief to middle class and working class families who have been driving this economy as consumers but have been doing it through credit cards and home equity loans. They’re not going to be able to do that. And if we want the economy to continue to go strong, then we’ve got to make sure that they’re getting a little relief as well.”
ENTIRE INTERVIEW AFTER THE JUMP
FIRST ON CNBC INTERVIEW: CNBC TRANSCRIPT: CNBC’S MARIA BARTIROMO SPEAKS WITH SENATOR BARACK OBAMA TODAY ON CNBC’S “CLOSING BELL”
WHEN: TODAY, MARCH 27TH AT 3PM-5PM ET
WHERE: CNBC’S “CLOSING BELL”
MARIA BARTIROMO, host: Senator, thank you for joining us.
Senator BARACK OBAMA: Thank you so much for having me.
BARTIROMO: Nearly seven months before Election Day, we’ve got foreclosures on the rise…
Sen. OBAMA: Right.
BARTIROMO: …we’ve got financial assets shrinking, gasoline above $3 a gallon. Detail for us your economic plan to take us higher.
Sen. OBAMA: Yeah. Well, it’s going to start with dealing with the immediate crisis, both in the financial markets and in the housing market. And obviously, those things are connected.
On the housing market, to prevent foreclosures, I think it is important for us to create some bottom, some floor, give people some sense of where does this end. And so I am a strong proponent of the proposal that Chris Dodd and Barney Frank have put forward, having the FHA step in to help stabilize the market. It’s not a bailout for borrowers or lenders, but what it says is we will rework some of these loan packages so that they’re affordable. And, you know, everybody’s going to have to take a haircut, the borrowers and the lenders, but it won’t be as bad as if a foreclosure took place. So that’d be step number one.
Step number two, I think to stabilize and provide confidence in the financial markets it is appropriate for the Fed to take some of the actions that it has. But I think it is also important to make sure that we’ve coupled that with some new regulatory structures. If the Fed is going to be a lender of last resort to investment banks, then it is, I think, legitimate to make sure that those banks are subject to some sort of requirements, both in terms of liquidity and capital, to assure that we’re not seeing excessive risks taken so that they get all the upside and the Fed gets all the downside. So that would be, I think, a second important step.
And then the third thing that I think is important for us to do is to understand that the economy long term has been out of balance for quite some time, even before this current crisis. I mean, we had high corporate profits, enormous rises in productivity over the last decade but wages and incomes have flatlined. And so you had a lot of concentrated wealth at the top, but ordinary folks were getting hammered with rising gas prices, rising costs of health care, rising costs of college tuition. And so creating a tax code that is more equitable and making sure that we’re making investments in things like infrastructure and clean energy that can put us on a more stable long-term competitive footing, I think that has to be part of the package as well.
BARTIROMO: I want to ask you about the mortgage plan.
Sen. OBAMA: Sure.
BARTIROMO: But since you ended with taxes, let me pick up right there, for investors.
Sen. OBAMA: Yeah.
BARTIROMO: How do you plan to change the tax code when it comes to capital gains? How high will that 15 percent rate go?
Sen. OBAMA: Well, you know, I haven’t given a firm number. Here’s my belief, that we can’t go back to some of the, you know, confiscatory rates that existed in the past that distorted sound economics. And I certainly would not go above what existed under Bill Clinton, which was the 28 percent. I would–and my guess would be it would be significantly lower than that. I think that we can have a capital gains rate that is higher than 15 percent. If it–and if it, you know–when I talk to people like Warren Buffet or others and I ask them, you know, what’s–how much of a difference is it going to be if it’s 20 or 25 percent, they say, look, if it’s within that range then it’s not going to distort, I think, economic decision making. On the other hand, what it will also do is first of all help out the federal treasury, which is running a credit card up with the bank of China and other countries. What it will also do, I think, is allow us to make investments in basic scientific research, in infrastructure, in broadband lines, in green energy and will allow us to give us–give some relief to middle class and working class families who have been driving this economy as consumers but have been doing it through credit cards and home equity loans. They’re not going to be able to do that. And if we want the economy to continue to go strong, then we’ve got to make sure that they’re getting a little relief as well.
BARTIROMO: But it’s not just the Warren Buffets of the world who own stocks, so…
Sen. OBAMA: Of course not.
BARTIROMO: …let’s hypothetically say that…
Sen. OBAMA: Right.
BARTIROMO: …cap gains tax goes from 15 percent to 25 percent.
Sen. OBAMA: Right.
BARTIROMO: You’re impacting a lot of people.
Sen. OBAMA: Right.
BARTIROMO: A hundred million Americans own stocks today.
Sen. OBAMA: Absolutely.
BARTIROMO: So it’s not just the rich.
Sen. OBAMA: No, no, no, absolutely. And that’s why I think that it may be, for example, that you could structure something in which people with certain incomes were exempted from this increase and it would stay at 15. The broader principle that I’m interested in is just making sure that we’ve got a tax code that is fair for all Americans. And I think it is not unreasonable to say–you know, I know that we’ll get some arguments from some folks on this, but it’s not unreasonable to say that those of us in the upper brackets have benefited disproportionately from a globalized economy; that those benefits have been compounded by the Bush tax cuts and that for us to roll back some of those tax cuts and to put this economy on a more stable fiscal footing and to make investments in the American people so that they can afford a decent life, that that is actually good long term for our economy and also good for investors and Wall Street.
BARTIROMO: So what about the top marginal rate for ordinary income? Who ought to pay more and who should pay less?
Sen. OBAMA: Well, you know, what I’ve said is that we should go back to probably a top marginal rate of 39 percent what it was before the Bush tax cuts. So I would roll back those Bush tax cuts, I would not increase taxes for middle class Americans and in fact I want to provide a tax cut for people who are making $75,000 a year or less. For those folks, I want an offset on the payroll tax that would be worth as much as $1,000 for a family. Senior citizens who are bringing in less than $50,000 a year in income, I don’t want them to have to pay income tax on their Social Security. And as part of my overall approach to housing, I actually want to provide an additional 10 percent mortgage deduction, a credit, mortgage interest credit, for those who currently don’t itemize. Because if you live in a house that’s pretty expensive, like I do, and I itemize, I get a pretty big break from Uncle Sam. If you own a $100,000 house and you’re making 65, $75,000 a year, you’re not getting that same deduction. I think that they deserve a break as well. That will actually help relieve some of the pressure on homeowners.
BARTIROMO: But can you really look at this sort of like an umbrella standpoint? I mean, we are in very, very unique times right now.
Sen. OBAMA: Yes.
BARTIROMO: Why raise taxes at all in an economic slowdown? Isn’t that going to put a further strain on people?
Sen. OBAMA: Well, look, there’s no doubt that anything I do is going to be premised on what the economic situation is when I take office. I’m going to be sworn in in January, we don’t know what the economy’s going to look like at that point. And, you know, the thing you can–you can be assured of is that I’m not going to making these decisions based on ideology. I’m not a dogmatist. I know that some, you know, my opponents to the right would like to paint me as this wooly-eyed, you know, liberal or wild-eyed…
BARTIROMO: You’re not a liberal?
Sen. OBAMA: The–but my attitude is that I believe in the market, I believe in entrepreneurship, I believe in opportunity, I believe in capitalism and I want to do what works. But what I want to make sure of is it works for all America and not just a small sliver of America. And if it turns out–if somebody can make a persuasive argument to me that, you know what, what we need at this juncture, at this particular point in time is a different set of policies than some of the ones that I’ve proposed, I’m always going to listen to people. Because I think one of the problems, in fact, with the Bush administration has been its rigidness when it comes to economic policy. I mean, you ask them any question, they’ll say tax cuts. It doesn’t matter what the problem is, if it’s, you know, our trade deficit: tax cuts. If it’s, you know, slowdown in manufacturing: tax cuts. You know, at a certain point, you know, if you’ve only got one arrow in the quiver, then you’re going to have problems.
BARTIROMO: Let me move on from taxes. I don’t want to spend all the time there. Let’s talk about small business. This is the one area of the economy that really is creating jobs, small business.
Sen. OBAMA: Yes, absolutely.
BARTIROMO: You want to index the minimum wage to inflation, we’ll see the minimum wage go up every year. You are looking to strengthen the unions. Basically, making costs go up for small business. Why put a further strain of expenses, higher expenses, on the one place in the economy that’s actually creating jobs?
Sen. OBAMA: Well, actually, you know, that’s not entirely true. It is true that I think that having the minimum wage go up every 10 years is a bad idea and it’s not good for small businesses, because they get socked with sudden jumps as opposed to something more gradual that they can build into their cost structures. It is true that I think that unions are a useful thing. But generally that’s not affecting the average small business, that is typically much more targeted at large companies who, again, wages and incomes have not gone up for the average worker over the last seven years. There’s a reason for that, and that’s a problem. I actually want to provide more tax breaks to small businesses, because I think they are the primary generator of income.
And one of the areas that I want to help small businesses on is their health care costs, which are crushing them. And if you talk to a lot of small business owners, not only are they having problems if they provide health care to their employees, but they’re also having problems paying health care for themselves. And if we can provide them significant relief there, then I think that there are going to be a whole bunch of small businesses who are going to be much more successful in building their businesses and expanding it over time.
BARTIROMO: But you say that, but we’ve had small businesses on, they’re terrified. They feel that their costs are about to soar.
Sen. OBAMA: I know. Small businesses often get terrified because people ramp up. The chambers of commerce, anytime you talk about the minimum wage, the sky is falling. The sky doesn’t fall. And as I said, the–what is important is making sure that this happens over a gradual period of time. Instead of us lurching back and forth, what I want to do is to create a climate for sustained economic growth. Small businesses are going to be the heart of that, and that’s why we’re going to give a large amount of support to small businesses in the form of tax breaks for investment and in making sure that their health care costs are dealt with.
BARTIROMO: Let’s talk about spending. You’ve got a $400-plus billion deficit. How do you plan to pay for the new health, education, you mentioned green technology, social programs…
Sen. OBAMA: Right.
BARTIROMO: …in the middle of a recession?
Sen. OBAMA: Well, I tell you what…
BARTIROMO: Away from tax cuts?
Sen. OBAMA: Right. The two points I would make. Number one, as I said, I’m going to have to take a look at what revenues are coming in when I take office because, you know, I’m not ideological and I think it is very important for us to stick to a principle of pay as you go. If I’m going to cut taxes for the middle class, as I’ve proposed, that means that I’ve got to either end some tax breaks elsewhere or cut spending. And if I want to increase spending, then I’ve got to find offsetting revenues or cut programs that aren’t working. That’s a principle that I believe in strongly and I will run on and implement when I’m president.
What’s interesting, though, is The Wall Street Journal, I think–actually a columnist looked, in The Wall Street Journal, at does Obama’s policies in fact add up? Do the numbers add up? And the conclusion was, yes. Because not only have I called for an end to the war in Iraq, which would not provide all the money that’s being spent there–some of that’s going to have to go to resetting our military, dealing with veterans and so forth–but there will be some money that we can use for other things.
Number two is the rollback of the Bush tax cuts on the top 1 and 2 percent. That will in fact create additional revenue. And the third thing is the cap and trade system that I’ve proposed to deal with climate change and to increase energy independence. That potentially generates billions of dollars that we can reinvest in solar, wind, biodiesel, creating jobs here in America that can’t be exported. And so when you tally it all up, all my proposals pay for themselves.
Now, as I said before, it could be that revenues are so short in a year’s time that we’ve got to make some assessments. And I am not going to initiate programs that can’t be paid for.
BARTIROMO: So name three spending programs you would cut to balance the budget.
Sen. OBAMA: Oh, you know, there are probably some weapons programs that I think are not serving our national security interests that need to be examined, and we’ve got to do an audit there. There are reforms that need to be made in our purchasing processes, where–simple things, you know. If we actually made sure that every government employee had a single, you know, debit card or credit card, then negotiated with large purchasers to get the discounts that any other large purchaser would get, we could lop off 10 percent of some of our major purchases by the federal government. Our travel allowances and expenses are a major problem. We could save several billion dollars just in how we set up government travel. So there are a whole bunch of areas where we can make some significant savings.
I will tell you, though, that historically when–you know, the fact is that the federal government primarily spends its money on Social Security, on Medicare and Medicaid, and on defense. And that’s the bulk of our spending.
The biggest thing we’ve got to do is get control of our health care spending, and that’s why the health care plan that I’ve proposed, although costing some money in the front end–we’ve got to help rural hospitals invest in, you know, health IT. We’ve got to make sure that we are bringing people into coverage so that they’re not going to the emergency room. Short term, that will cost us some money. Long term, the more we emphasize prevention, the less likely we are to pay huge bills down the road. That’s the only way we’re going to get control of health care inflation. And if you talk to any executive, as well as any actuary who’s looking at government spending, our biggest crisis looming in the horizon has to do with our health care costs. And the only way to really solve it long term is to make sure that we are making for a healthier America and improving the quality of care so that we get more bang for our health care dollar.
BARTIROMO: How about trade? You’ve made the point that you want to improve relations around the world…
Sen. OBAMA: Yes.
BARTIROMO: …and yet you want to renegotiate NAFTA, you are not in favor of some other trade policies.
Sen. OBAMA: But I’m in favor of some.
BARTIROMO: OK.
Sen. OBAMA: Yeah.
BARTIROMO: Tell me about the trade policies that you’d like to look at…
Sen. OBAMA: Yeah.
BARTIROMO: …and particularly NAFTA, renegotiating that.
Sen. OBAMA: Yeah.
BARTIROMO: Why potentially impact the one area of the economy that’s actually doing very well, exports and trading, and opening up markets for American companies?
Sen. OBAMA: Well, look, I believe in trade and I’ve said it repeatedly. And, you know, I have voted for trade agreements. I voted for the Peru Trade Agreement, much to the chagrin or some people who objected about it. I voted for the Oman trade deal. It is true that I voted against CAFTA and I voted–and I am concerned about NAFTA because they don’t have the environmental and labor protections written into this legislation that ensure some basic standards, make sure that child labor laws aren’t being circumvented, making sure that you don’t have forced labor. I think it is important in our dealings with China to make sure that we are tougher bargainers. My problem with our trade agreements right now is not that I feel we can’t compete in the global economy. I think we’ve got the best workers on earth. I think the problem is is that we’re not very good bargainers. We–our trade mentality dates back to the ’60s and the early ’70s when we were so dominant in the world economy that basically if people sent their goods into this country without reciprocity, it wasn’t really going to have a dent on our economy. Well, the fact is China, Brazil, Korea, you know, they’re not your dad’s China, Brazil or Korea. They are now major competitors of ours. We should want real trade with them, but it’s got to be on a reciprocal basis. And we should put some pressure on them to improve how they treat workers, to deal with issues of environmental standards, to deal with safety standards. And part of the problem that we’ve got right now in our trade agreements is that US companies may move over there, get out from under basic safety standards that are important to US consumers, then the goods get shipped back into the United States and suddenly we’ve got toys with lead paint on them.
That is not good for US consumers and I don’t think it’s good for business long term. But, you know, one notion I want to dispel is the notion that somehow I’m opposed to free trade. I think it is important for us to have a trade regime. And I think it’s good that China and India are growing. Ultimately they may be markets of ours and, you know what, there’s just a human element to wanting to see billions of people scratch their way out of poverty. That is in our long-term interest.
BARTIROMO: What happens if the Mexicans and Canadians say, `We don’t want to renegotiate.’ Do we go back to the policy in place before NAFTA?
Sen. OBAMA: Well, I think that, you know, let me have those conversations with the president and the prime minister and see if we can negotiate something that makes sense for all sides. I mean, keep in mind, Mexico has some of these similar problems, you know, some of the promises that were made about the improvements in the standard of living for Mexico. Workers have not been borne out as a consequence of NAFTA. Part of the problem we’re having with immigration right now has to do with a much more efficient US agricultural and agrobusiness operations going into Mexico and decimating Mexican farmers. They have been displaced first to Mexico City and other urban areas, and increasingly they come into the United States.
And so, again, the principle that I have in general when it comes to economic policies: a belief in free markets, a belief in opportunity, a belief in trade, but wanting to make sure that in all these areas that somebody’s thinking about the little guy; that somebody is making sure that the economy is working for everybody and not just some people. And that, I think, is a basic difference between myself and George Bush and increasingly, it appears, John McCain, as well.
BARTIROMO: But you want to put pressure on the companies and the people that are actually creating jobs, during a recession.
Sen. OBAMA: Well, you know, I think part of my argument is part of the reason we’re in a recession is because we have an unbalanced economy. Look, you know, Henry Ford was the first one to say, `If I don’t pay my workers enough to buy my cars, my business isn’t going to be around for a long time.’ Part of the genius of America has always been that we have a shared prosperity and a broad-based middle class, and that we make investments in roads and bridges and other infrastructure that allows the market to work efficiently. And we’ve got a regulatory system so that investors can trust the market and don’t feel like insiders are going to be taking advantage of them. That’s what makes the market run. And when we lose that balance, what ends up happening is in the short term you’ve got some people who make out like bandits. And the only reason that we haven’t seen some of these problems in the US economy previously is because consumers had been driving this, even though their wages and incomes haven’t been going up, because they’ve been able to use their credit cards and home equity lines as an ATM. That’s gone away. And so the question now is who’s going to drive the economy, if not consumers? And the only way that we can make sure that consumers are able to drive that economy is if in fact they’ve got some money in their pockets. And right now they don’t, because they are getting squeezed hard.
BARTIROMO: Final question, Senator.
Sen. OBAMA: Yeah.
BARTIROMO: And this is just in the news right now, away from business, the church bulletins. A lot of people say that they were–are anti-Semitic, anti-American. How often did you read them? Did you find them troubling?
Sen. OBAMA: You know, the–you know, I’ve, I think, talked thoroughly about, you know, the issue with Reverend Wright. And, you know, everybody, I think, who examines the church that I attend knows that it is a very traditional, conventional church. Reverend Wright has made some, you know, troubling statements and some appalling statements that I have condemned. He’s the former pastor of that church. And I think that–and when I travel around the country, what people are really interested is making sure that, if I’m going to be the next president, that I can actually help them stay in their homes, get a job, send their kids to college. That’s something that’s shared by people across races, religions. And part of what I hope to do in this campaign and as president is to get us beyond these divisions that distract us from our common challenges and our common opportunities and move the country forward.
BARTIROMO: Senator, would you like to add anything else?
Sen. OBAMA: I had a wonderful time. I hope I get a chance to talk to you again.
BARTIROMO: Do you think that the Fed made the right move in terms of bailing out the financial system? Final question. A final–you know, I’m just trying to do it on BusinessWeek–I promise you, I promise you.
I’m doing a piece for BusinessWeek on you for Friday and I’m trying to do both CNBC and BusinessWeek.
Sen. OBAMA: Right.
BARTIROMO: That’s why, I’ve tried to do both.
Sen. OBAMA: Well, now that–now this is going to be really good story, because she got at least five final questions. Absolutely.
BARTIROMO: (Unintelligible). No pressure, no pressure.
Sen. OBAMA: No, no, no, I don’t mind. The–no, no. Look, the–I think that–you know, I wasn’t privy to Bear Stearns’ balance sheets. I think there’s no doubt that we want the Fed stepping in in emergencies, and no other government agency could step in sufficiently, quickly to prevent what could have been a domino effect. But the one, you know, basic principle that I think is important is that if the Fed is going to be a lender of last resort to investment banks, then they’re going to have to be subject to some of the same regulatory requirements that commercial banks are subject to. And I think Henry Paulson admitted as much in some of his statements yesterday. And I know that the Senate Banking and Finance Committees are going to be examining the nature of this transaction to make sure that it was fair to all parties involved.
BARTIROMO: Thank you so much, Senator.
Sen. OBAMA: All right. Thank you.
BARTIROMO: Good to see you.
Sen. OBAMA: All right.
GO HILLARY…I STAND BY YOU 100%!!!!
http://www.huffingtonpost.com/2008/04/08/obama-event-coordinator-g_n_95749.html
DID SHE SAY ,,,GET ME MORE WHITE PEOPLE,,,,
Patty you are standing alone…LOL Just you and Hill maybe she will pick you for her VP since everyone else is leaving her.
Obama 08
OBAMA’S MINISTER PROBLEM:
Lanny Davis
Great article:
http://online.wsj.com/article/SB120770107738700007.html?mod=opinion_main_commentaries
Obama good for the economy? His own website has him prepared to spend over 800 billion dollars. He’s going to regulate business hard,he’s pro union, he’s going to raise taxes across the board.
He’s already signed an agreement that committs the US to billions in overseas aid. His strategy is classic socialist…tax and spend and bigger government. He’s pro bigger Washington that means a lot more room for breakdowns and failures. He’s proposing these new government bodies, all of which need money to function. His handouts offer no tangible returns.
Obama is clueless to an economy that needs observation and creative response. He’s proposing 30 billion dollars to bail out homeowners in foreclosure (contrary to the popular thought on that).
Every economic expert in the country is warning against big spending and pork spending (Obama has 50 earmarked projects for 2009..that’s from a junior senator, McCain? ZERO).
McCain’s going to eat this guy alive.
Obama is a death sentence to the economy.
How is raising taxes good for the economy? We will be in a deep recession if Obama is elected. Price of gas will be $10 a gallon. I hope I can survive an Obama presidency.
OH MY GOD
THIS IS THE LINIT OF RACISM
I AM SO SICK OF IT http://youtube.com/watch?v=IN5StQAr7n0&feature=related
Dan give it a rest. It is a dead issue that obvious Republicans such as yourself keep beating the dead horse. Obama has refuted everything the Pastor has said. Dead issue from dead dried up Republicans. How about using some of that ingenuity you have there and come up with a better candidate than John McVain.
Obama 08
http://youtube.com/watch?v=tOcUKUSWpe8&feature=related
HA HA
I WISH ,,THIS GUY COME IN FRONT OF ME ,,SO I CAN SLAP HIM AND HIS RACIST A*S*S*
The rhetoric against iran was more subdued than anticipated. Patreas was smart to highlight the constructive approach of Iran in Basra. Ironically Iran and US support the same main parties in Iraq, so one would think there is no problem. The reduction in troops is self-evident. UN mandate of multi-coaltion forces runs out in dec. 2008, and needs to be replaced by a security agreement with Iraq, the less tension and controversy the better to work on this agreement. The whole idea of ’special forces’ is a construction that serves the neo-cons agenda. Think that is suicidal attempt for another miscarriage of justice. Thus even before the election are held, some kind of final plan will be worked out, on how many troops and how long they will stay. Its just a question, if congress has a chance to debate this agreement.
http://www.guardian.co.uk/world/2008/apr/08/iraq.usa
Obama still won’t confess that the war funding is emergency funding. He can’t access it.
http://youtube.com/watch?v=hAYe7MT5BxM&feature=related
HILLARY NEVER BEEN CALLED A NIGGAAAAAAAAA
WELL ,,,OBAMA NEVER BEEN CALLED A B*I*T*C*H*,,,,OR WHITE T*R*A*S*H*…BLONDY,,,,,
Jean what you are describing has nothing to do with gas prices. They are set by the enormous oil corporations and OPEC that is where our gas prices come from. Whoever is elected president will in no way shape form or fashion determine gas prices.
Obama 08
NY PROTEST OF HILLARY CLINTON REMAINING IN THE RACE - FRIDAY, APRIL 11TH, 8AM, ROCKEFELLER PLAZA, NEW YORK CITY
Supporters of the Democratic Party:
Join the Protest To Persuade Hillary Clinton to dropout of the race for the presidential nomination.
We demand that Hillary drop out!
We demand she never run for president again!
We demand that she resign from the Senate!
We demand that she leave politics forever!
FRIDAY, APRIL 11, 2008, 8am
Rockefeller Plaza, New York City
(W. 48th St & Rockefeller Plaza )
Bring your signs
Hillary has never been called a n*i*g*g*er because she is not a n*i*gger. The Clintons did a lot for the black community and moment certain blacks got their opportunity they stabbed Hillary in the back. That is the definition of the term “n*i*g*g*er”. Is it not?
Babu,
What did Hillary do for the black community?
http://youtube.com/watch?v=72B3tUAqpo4
WORDS MATTER ,REALLY ?????/
Comment by Jean, GA
April 9th, 2008