Obama on PayGo

obama favors a pay as you go system (not used by the bush administration) of budgeting in government. if you want to cut taxes for something, you have to cut spending somewhere else, or put another way, if you're losing revenue then you have to find money someplace else.
"you can't keep running up the credit card, under the name of our children borrowing from the bank of china."
he'll roll back bush tax cuts for the wealthy. it will go back to the way it was under the bill clinton administration, he said.
"they were rich then and they will still be rich after i am president. rest assured."
"i am a progressive," he said. progressives need to be more fiscally conservative that the conservatives. there are a lot of needs so we can't waste. "I want to examine and eliminate some spending."

Obama's Economic Remarks in Ohio

from realclearpolitics: LORAIN, OH - Our economy has been struggling for some time now. And as I've traveled across Ohio, I've seen the face of this economy - a mother who told me she can't afford health care for her sick child; a father who's worried he won't be able to send his children to college; and seniors who've seen their pensions disappear because the companies they gave their lives to went bankrupt.

I don't have to tell you about this. Folks around here have been directly impacted by the changes in our economy - whether it was the loss of steel jobs over the past few decades, or the closing of the Ford plant that was here for so long. And folks in this area are still worried about whether they're going to lose their jobs and how they're going to make ends meet if that happens.

Now, if we're honest with ourselves, we'll acknowledge that we can't stop globalization in its tracks and that some of these jobs aren't coming back. But what I refuse to accept is that we have to stand idly by while workers watch their jobs get shipped overseas. We need a president who's working as hard for you as you're working for your families. And that's the kind of President I intend to be.

I've proposed a job-creation agenda that starts with making sure trade works for American workers. We can't keep passing unfair trade deals like NAFTA that put special interests over workers' interests.more RealClearPolitics

Obama on Home Foreclosures

obama on mortgage fraud
on the economy