Obama’s big announcement today:
TOLEDO, Ohio (Reuters) – Democratic presidential nominee Sen. Barack Obama on Monday proposed four steps to create jobs and to cushion Americans against the effects of the economic downturn as he campaigned in an area hit hard by the slowdown. […]
— A temporary $3,000 tax credit to companies for each new job created in the United States over the next two years.
— Penalty free withdrawals from 401(k) and IRA retirement accounts up to a maximum of $10,000 this year and next.
— A 90-day moratorium on foreclosures for homeowners who are living in their homes and making good-faith efforts to make their mortgage payments.
— A call for the Treasury to help unfreeze markets for individual mortgages, student loans, car loans, loans for multifamily dwellings and credit card loans.
The plan also calls for temporarily eliminating taxes on unemployment insurance benefits and having the Fed and Treasury prepare for guaranteeing a broader range of liabilities of the banking system.
And McCain’s big new idea for his campaign:
McCain has added a new line to his stump speech: “We’ve got them just where we want them.”
Inspiring, isn’t it?
