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Obama: Economy needs a $50 billion boost



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On the first day of what is to be a two-week economic tour around the country, Barack Obama said Monday that lawmakers should inject another $50 billion immediately into the sluggish U.S. economy.

The presumptive Democratic presidential nominee cited the largest monthly increase in the unemployment rate in over 20 years, and record highs in oil prices, food prices and foreclosures.

"Such relief can't wait until the next president takes office. ... That's why I've called for another round of fiscal stimulus, an immediate $50 billion to help those who've been hit hardest by this economic downturn," Obama told a crowd in Raleigh, N.C.

He said that he supports the expansion and extension of unemployment benefits, as well as a second round of tax rebate checks.
merasyad

2 responses // Obama: Economy needs a $50 billion boost

  • Wow, sounding more like Bush by the day! How is he going to make up for the $50 billion? And what was wrong with the gas tax holiday? How will giving away our tax money back to us change the unemployment rate? Did he just decide to copy Bush now that he can't try to copy everything Hillary says anymore? I culd use the money but how do we get universal health care this way? Thanks for the post by the way, appreciate people helping keep us all up to date on what candidates are saying.
    dcrc9596
  • Well, every economist has said that the Gas Tax Holiday would end up saving consumers next to nothing, cost the federal government billions in funds for infrastructure and would mostly help the gas companies. Other than that it's a brilliant idea that Clinton and McCain should be proud of. So how is Obama copying people? Seems like he's the only one making sense on that issue. And as for the stimulus package, why do you assume it would come at the expense of universal health care? I haven't heard anyone suggest that.
    krag2112

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