Posted on 01/12/2008 5:58:56 AM PST by Kaslin
Hillary Clinton wants voters to believe the country is entering a recession and a $70 billion subsidy package for low-income Americans is needed to keep the economy afloat.
Clinton laid out the details of this plan at the IBEW Hall in Commerce, California Friday—a state with significant “Tsunami Tuesday” clout that will send 441 delegates to the Democratic nominating convention. "This economy may be working for some people, but it sure isn't working for everybody," Clinton said.
It includes $30 billion fund to help subprime mortgage borrowers to make their payments, $25 billion for the low-income to pay heating bills, $10 billion to expand unemployed insurance and $5 billion to “jumpstart green collar job growth.”
On December 5, Clinton made a speech on Wall Street that proposed spending $5 billion to pay for an “emergency housing crisis fund” for homeowners. The package she unveiled represents a $25 billion increase to such a fund.
The Republican National Committee has been keeping track of the cost of all of the plans Clinton has said she would enact as President and added the cost of this package to their tally. According to their calculations, one term of Hillary Clinton’s presidency would cost taxpayers $848.6 billion.
Clinton’s plan also contains a $40 billion tax rebate for what she calls “hardworking” families “if the economy continues to worsen.” It is unclear what standards would be used to define who is “hardworking” and when the economy “worsens.” Clinton stressed only low and middle income Americans would get the rebate though. "Not to the wealthy," she said. "They have more than gotten their share of our tax dollars."
Clinton’s plan is predicated on the notion that the United States is close to a recession and Americans will need government assistance. Her campaign issued a formal memo on Friday that says: “While economists may still be debating whether we’ve met the technical definition of a recession, for hard-hit middle class families that question has already been answered.” Clinton repeated that line from the memo in her address.
On the campaign trail, Clinton has issued repeated warnings of a recession. Clinton told voters in New Hampshire, “I think we’re about to slip into recession, and we’ve got to take action now.” Link: http://www.nydailynews.com/blogs/dc/2008/01/clinton-predicts-recession.html
She said it again at a stop in Nevada yesterday. “I think we're slipping toward a recession,” Clinton said. “A couple of people that I met on the street, they work in construction. They tell me it's slowed down.”
In her pursuit for the Democratic nomination for President, Clinton has fought hard to elicit support from low-income voters. A Politico story previewed her “economic stimulus” plan recognized this with a headline that read: “Clinton econ plan aimed at struggling Dems.”
Former White House senior advisor Karl Rove attributed Clinton’s working class appeal to her narrow New Hampshire primary win. In a Wall Street Journal op-ed titled “Why Hillary Won,” Rove bluntly wrote: “Mrs. Clinton won the beer drinkers, Mr. Obama the white wine crowd. And there are more beer drinkers than wine swillers in the Democratic Party.”
Hang on to your wallets...here comes Her Thighness...
WOW her campaign must be drawing dry, that is a lot of vote payout. Wonder how much McCain will now have to up his ante.
At least she is honest about her marxist plans.
Her ‘solution’ is classic Keynesian nonsense.
She wants to give tax cuts to people who don’t pay taxes!
If she really wanted to jump start the economy, she would propose cutting both individual and corporate tax rates,
and cutting or eliminating the capital gains tax.
Oh, wait a minute, she does not mean her money, but "public money".
So let me get this straight, Hillary wants to tax us to get the 70 billions so she can turn around and give it back to, who? Those that paid taxes? Most likely not but to those that "deserve it most".
I am not an economist, but I think if you take 70 billions out of the economy and then put 70 billions back in there is a net gain of zero!
Now if she was talking about cutting taxes by 70 billion dollars she might have something but I don't think that is what she has in mind.
This is because she only wants the votes. She has no interest in improving the economy.
This is a prime example of why I will even vote for McCain or the Huckster to prevent this Harpy from being elected to the White House.
Pssst... Hey Thunder Thighs, here's a little economics for ya: the economy never works for everybody.
None of what she proposes has anything to do with stopping a recession.
Let’s not subsidize poverty, and call it economic growth.
Just WHOSE tax dollars are we talking about here? I sure hop the RNC finds a way to get THAT quote into an ad.
LOL. There is nothing honest about her. Even her lies are have the ring of falseness.
Hillary is an economic fool.
She’s a piker! I propose a $500B payout to everybody in the country! Vote for meeeeeeeeeee!
Yep, she wants to help the downtrodden. I wonder how they will feel when they figure out they are more the sacrifice than the receipent?
She will throw them over if she wins.
Wow, I learn something new everyday. Food stamps are now an economic stimulus....as is money going for heating costs. My goodness...what a genius this bitch is. Not a mention of lowering corporate tax rates, shortening depreciation schedules, tax credits for capital investment, lowering capital gains taxes on individuals. Not a single word about real stimulus that creates jobs and prosperity....democrats are the dumbest aholes on earth..they are like children playing fantasy games, they have never grown up and all they know how to do is pander for votes. Is it Civil War time yet?
There's a reason we're bleeding people and jobs.
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