Wall Street Woes

Obama and McCain finally agree on something- that the economy is in ruins, and it's going to take $700 billion to fix it. Both Candidates put out strikingly similiar plans, both calling for greater accountability and independent oversight, a path for taxpayers to recoup the money, and a cap on the executive pay of those companies that take part.

McCain stated that his plan essentially requires a ten thousand dollar tax increase per household.


Obama has been unclear in how he plans to raise the money while keeping his same tax plans, but he is also proposing a second stimulus package that would pump $50 billion into the economy -- $25 billion to the states and another $25 billion for infrastructure projects. His plan also calls checks of $500 per individual or $1,000 per household to offset higher gasoline and other energy costs. Obama would pay for those checks with a windfall profits tax on the oil industry



No matter what happens, or who wins, something has to be done, and it has to be done soon.