Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (37854)	10/13/2008 2:24:50 PM
From: puborectalis	Respond to of 149317

Democratic Barack Obama on Monday called for more immediate steps to heal the nation's ailing economy, proposing a 90-day moratorium on home foreclosures at some banks and a two-year tax break for businesses that create new jobs. The presidential candidate also proposed allowing people to withdraw up to $10,000 from their retirement accounts without any penalty for the remainder of the year and 2009. Obama said his proposals, with a pricetag of $60 billion over two years, can be enacted quickly, either through the government's regulatory powers or legislation that Congress could pass in a special session after the election. "I'm proposing a number of steps that we should take immediately to stabilize our financial system, provide relief to families and communities and help struggling homeowners," Obama said. "It's a plan that begins with one word that's on everyone's mind, and it's spelled J-O-B-S." Obama delivered his economic message in Toledo, a blue-collar city in a state that could be critical to Obama's presidential hopes. Polls show a close race between Obama and Republican John McCain in Ohio, which decided the 2004 presidential election. At stake are 20 electoral votes. "By offering up some new proposals that build upon those he’s already put forward or supported, Obama has shown some new flexibility to respond to a crisis neither candidate has been able to get a handle on" said CBSNews.com senior political editor Vaughn Ververs. "While short-term fixes seem to be all the rage, the long-term impact of them is not at all certain. But with just three weeks left in the campaign, the short term is all the two candidates are really worried about, for now." His latest proposals are in addition to other policies the Illinois senator has already offered as the stock market struggles, financial institutions wobble and tight credit chokes the economy. Obama supported the $700 billion Wall Street bailout plan and endorsed the latest twist on it: the government buying ownership in major banks and partially nationalizing them to keep them afloat. He also calls for tax breaks for most families, cutting capital gains taxes for investment in small business and extending unemployment benefits. Obama said that banks participating in the federal bailout should temporarily postpone foreclosures for families making good-faith efforts to pay their mortgage. "We need to give people the breathing room they need to get back on their feet," he said, adding that families living beyond their means share some of the responsibility. He also called for a $3,000 tax credit for each additional full-time job a business creates. That means a business that adds five jobs would get a $15,000 break. That would end after 2010 and would cost $40 billion, the campaign estimates. Obama also is proposing letting people withdraw up to 15 percent of their retirement funds, to a maximum of $10,000, without any penalty this year and next. They would still have to pay normal taxes on the money. He said letting people dip into their IRAs and 401(k)s would help them get through tough times when money is tight. State and local governments face a money crunch, too, and Obama called for new federal short-term loans to help them through the crisis. He called it a "funding backstop" to ensure that states and cities can meet payroll or keep projects moving.

To: nigel bates who wrote (37854)	10/13/2008 2:26:04 PM
From: TARADO96	Read Replies (1) \| Respond to of 149317

Thanks. Hitchens is no liberal at all. He is only telling what we have known for weeks irt Sarah Palin.

To: nigel bates who wrote (37854)	10/13/2008 2:26:16 PM
From: puborectalis	Read Replies (1) \| Respond to of 149317

MARKETWATCH FIRST TAKE Liberal media rejoice! Krugman wins a Nobel Commentary: New York Times columnist cited for economic research By Jon Friedman, MarketWatch Last update: 2:17 p.m. EDT Oct. 13, 2008Comments: 10Editor's note: The following First Take is real-time analysis and opinion by the MarketWatch commentary team. NEW YORK (MarketWatch) -- Paul Krugman, poster child for the so-called liberal media, is getting the last laugh. The columnist for the New York Times (NYT:New York Times Company was awarded the Nobel prize in economics on Monday. Krugman, who has represented the Times since 1999, was lauded for his theories on how urbanization can have an impact on trade patterns. That's the official explanation, anyway, of the Royal Swedish Academy of Sciences. The real story is that the acknowledgement of the liberal media and its accomplishments at a time when Barack Obama is enjoying a solid lead against John McCain, his Republican rival, in the presidential-election opinion polls. One of the hallmarks of the McCain-Palin ticket has been to browbeat the "elite" media. Krugman's award underscores the credibility of the Times columnist and many of his like-minded colleagues. Krugman, a Princeton University professor, is a relentless and articulate critic of President Bush's economic policies -- and he hasn't spared McCain, either, in his writing. Krugman has written: "We've known for a long time, of course, that Mr. McCain doesn't know much about economics -- he's said so himself, although he's also denied having said it," Krugman wrote in a recent column. "That wouldn't matter much if he had good taste in advisers -- but he doesn't." It is easy to discern where Krugman's personal political beliefs lie. The Nobel, however, is awarded on merit, not because of political opinions. Krugman has done very solid work for a long time. He deserves the award -- on merit. -- Jon Friedman, columnist