Obama reveals how he plans to deal with economic meltdown

October 13th, 2008 - 3:08 pm ICT by ANI  

Barack Obama

New York, Oct.13 (ANI): Democratic presidential nominee Barack Obama has revealed to the New York Daily News how he plans to deal with the economic meltdown and how he plans to lead Americans out of it.
In article for the tabloid, Obama says that while this is a moment of uncertainty for America, it is also a time for resolve and steady leadership.”
He says that the Treasury Department must implement the rescue plan that passed Congress as quickly as possible. But that’’s just the beginning.
I”ve been fighting for a rescue plan for the middle class. My proposal would mean 3.2 billion dollars in economic stimulus for New York - a shot in the arm that would provide every family immediate relief to cope with rising food and gas prices, help state and local governments maintain essential services in the face of budget shortfalls, and save 64,000 jobs in New York alone by rebuilding our crumbling roads, bridges and schools, Obama said. We also need relief for small businesses that can”t get loans to pay their workers or finance their inventories, he adds.
To grow our economy from the bottom up, we need a tax code that doesn”t just work for the folks at the top. I want to give a middle class tax cut to 95 percent of all workers and their families, including 9.7 million in New York. American families making less than 250,000 dollars a year won”t see their taxes increase one single dime - because in an economy like this, the last thing we should do is raise taxes on the middle class, Obama said. As President, I”ll go through the entire federal budget and eliminate programs that don”t work and aren”t needed so that we end runaway spending and record deficits. And we”ll enact common-sense regulations that prevent a crisis like this from ever happening again. I won”t pretend this will be easy or come without cost. We will all need to sacrifice and we will all need to pull our weight, he said. (ANI)

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