The question of how Barack Obama would deal with the economy has been of concern to many backers both of Senators Clinton and Obama. Arguments have gone back and forth on whether or not Obama or Hillary Clinton has the better health care plan and/or overall economic plan.
Most of us know that Paul Krugman has taken Obama to task on his health care plan, pointing out (rightly, as Dean Baker says) where Hillary's plan is actually stronger. But there are other parts of Obama's economic plan, and those parts have caused him to win praise from economists across the political spectrum, from Paul Volcker to Joseph Stiglitz and Edmund Phelps.
Here are some good links on Obama's economic policy as contrasted with that of the other major candidates:
Retirement Savings/Approaches to Economics
Obama's Trade Policy
Fiscal Stimulus
Finally, TPM's Greg Sargent provides the text of a speech Obama made today in Oregon. For brevity's sake, I'm highlighting the actual policy proposals here in the diary, though of course you can see the full speech at the TPM link:
...John McCain wants to continue George Bush's tax cuts for the wealthiest Americans; I want to give a tax cut to working people. I admired Senator McCain when he said he could not "in good conscience" support the Bush tax cuts. But now, as the Republican nominee, he's fully embraced them. He wants to give a permanent tax cut to the wealthiest Americans who don't need them and didn't ask for them while working people are struggling. And for all his talk about fiscal responsibility, he's proposed $400 billion in tax cuts without any word about how he'll pay for them. That's exactly the kind of attitude that has shifted the burden on to the middle class, and mortgaged our children's future on a mountain of debt.
I think it's time to restore fairness and responsibility to our tax code. We need to reward work - not just wealth. We need to stop giving tax breaks to companies that ship jobs overseas, and put a tax cut in the pockets of middle class Americans. That's why I've proposed a "Making Work Pay" tax credit of up to $500 for workers, and $1,000 for working families. This will cut taxes for 150 million Americans. It will help you deal with rising costs, and give our economy a boost by easing the burden on Main Street.
[...]
We have a difference on gas prices. John McCain has embraced a gas tax gimmick that - when it's said and done - will save you less than thirty dollars this summer. This is a classic Washington fix that's more about getting John McCain through an election than solving your problems. It will put more money in the pockets of the oil companies. It's bad for our environment. And it won't bring own gas prices over the long term - most economists think it will send those prices up.
I believe we owe the American people the truth. That's why my plan to lower gas prices raises fuel efficiency standards on cars; invests in alternative energy to end our addiction to oil; and creates millions of new Green Jobs while saving our planet in the bargain. That's the kind of change we need in Washington.
We have a fundamental difference on our priorities for the presidency. John McCain wants to continue George Bush's war in Iraq, losing thousands of lives and spending tens of billions of dollars a month to fight a war that isn't making us safer. I want to end this war. I want to invest that money in America - in our roads and bridges and ports. And I want to invest in millions of Green Jobs, so that we finally develop renewable energy, end our addiction to oil, bring those gas prices down, and save our planet in the bargain.
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