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.”
LMBO!!
Isn’t that close to the year end bonuses reportedly given out on Wall Street????? I thought I read an article that they got 60 billion.
If history has has shown us anything that the more the government tries to influence the economy, the less control they have over the economy.
But of course, Hillary knows best how to run the country...
Mark
“Bill Gates has 70,000,000,000 dollars. Take it from him.”
She would too!!
Hmmmm.... Of course, what they ignore is the fact that "the wealthy" typically don't pay that much in taxes... "The wealthy" are typically living off of investments that are carefully shielded from paying taxes. For instance, that's how Warren Buffet can say that his secretary is paying a higher rate of taxes than he is. And that's why Teddy Kennedy has so much of his family's money tied up off-shore.
It's the producers, the productive of the economy that wind up paying the taxes... But never mind that... The above statement shows that Hillary is completely ignorant where "tax dollars" come from. "Our tax dollars." Hillary using that phrase. It sends shivers down my spine. It shows that she sees the treasury as her own bank account. It shows her sense of entitlement.
To those who actually produce, and pay taxes. Be prepared: We're all going to be paying far more.
Mark
Vote for me! I will give every man, woman, and child in America, ummm, $1,000,000!
Oh, she's perfectly aware of that... To her, the only thing that matters is that the economy works FOR HER.
And she's quite good at ensuring that.
Mark
If you got in at ~$350, you've done fine. If HRC is firing up the printing presses at the Treasury to print even more money, the devaluation of the dollar will continue.
The most likely answer will be, "Take the country back from George Bush!" You know--the same moonbats who have the '1-20-09' and 'Impeach Bush' bumper stickers on their Prius hybrids.
Any candidate who doesn’t get up and state loudly that the solution to money woes is politicians getting out of the way and letting the market take care of financial problems is both a liar and a demagogue. That includes all Democrats running and one Republican.
From post #117; 70b is a fly on the windshield of this economy
.
Is $700 billion closer to a figure that would have an effect on the economy?
the economy never works for everybody
Clinton wants to promise a maximum economy, which is obvious she can’t deliver.
I guess a lot of Bank CEOs are contributing to her campaign, but she’s nuts if she truly believes another subsidy would pull the US out of a recession, especially one caused by bad mortgages.
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