Economic Stewardship

In this time of economic transformation and crisis, we must be stewards of this economy more than ever before. We will maintain fiscal responsibility, so that we do not mortgage our children's future on a mountain of debt. We can do this at the same time that we invest in our future. We will restore fairness and responsibility to our tax code. We will bring balance back to the housing markets, so that people do not have to lose their homes. And we will encourage personal savings, so that our economy remains strong and Americans can live well in their retirements.

We must reform our tax code. It's thousands of pages long, a monstrosity that high-priced lobbyists have rigged with page after page of special interest loopholes and tax shelters. We will shut down the corporate loopholes and tax havens and use the money so that we can provide an immediate middle-class tax cut that will offer relief to workers and their families. We'll eliminate federal income taxes for millions of retirees, because all seniors deserve to live out their lives with dignity and respect. We will not increase taxes on any family earning under $250,000 and we will offer additional tax cuts for middle-class families.

We will ensure that the foreclosure prevention program enacted by Congress is implemented quickly and effectively so that at-risk homeowners can get help and hopefully stay in their homes. We will work to reform bankruptcy laws to restore balance between lender and homeowner rights. Because we have an obligation to prevent this crisis from recurring in the future, we will crack down on fraudulent brokers and lenders and invest in financial literacy. We will pass a Homebuyers Bill of Rights, which will include establishing new lending standards to ensure that loans are affordable and fair, provide adequate remedies to make sure the standards are met, and ensure that homeowners have accurate and complete information about their mortgage options. We will support affordable rental housing, which is now more critical than ever.

The Latest »

Lest We Forget

September 14, 2009 - One year ago tomorrow Lehman Brothers collapsed, sending Wall Street into a fevered panic and bringing our entire financial system to the brink of catastrophe.
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Recovery Comes to Elkhart County, IN

August 6, 2009 - President Obama was in Wakarusa, IN in Elkhart County yesterday to announce $2.4 billion in Recovery Act funds to develop the next generation of fuel efficient cars and trucks, powered by the next generation of battery technologies.
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President Obama Talks Recovery and Rebuild in Wakarusa, IN

August 5, 2009 - President Obama traveled to Wakarusa, IN today to announce 48 new battery and electricity projects that will receive $2.4 billion in funding through the American Recovery Act.
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Honoring our Veterans: Post 9/11 GI Bill

August 3, 2009 - Today, President Obama and Vice President Biden joined Veterans Affairs Secretary Eric Shinseki, Senator Jim Webb (VA-D) and others at George Mason University in Fairfax, VA to mark the implementation of the Post-9/11 GI Bill.
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Sarah Palin's Flip-Flop on Cap-and-Trade

July 20, 2009 - But it looks like Sarah Palin's a little unclear on what her policy positions are.
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Taking the GOP to Task on the Recovery Act

July 9, 2009 - The party’s over for GOP leaders who have either been dissing the Recovery Act in Washington and taking credit for Recovery Act projects in their districts, or pushing outrageous falsehoods that the largest stimulus in United States history has been no help at all.
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American Clean Energy and Security Act Goes to Full House Vote Tomorrow

June 25, 2009 - As we’ve been talking about all week, the House is expected to vote tomorrow on the American Clean Energy and Security Act.
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Our Clean Energy Economy

June 25, 2009 - With a full House vote expected this week on the American Clean Energy and Security Act (or Waxman-Markey), all eyes turn to the nation’s energy policy.
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Clean Energy, Green Jobs and Climate

June 23, 2009 - The Obama Administration is dispatching cabinet secretaries and senior officials around the country this week to highlight the need for comprehensive energy legislation that makes us more energy independent, reduces climate change-causing greenhouse gas emissions and creates millions of green jobs.
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June 20, 2009: Weekly Presidential Address

June 22, 2009 - In this weeks address the President talks about Financial Reform and how his administration is addressing the current crisis. He stresses our markets should work fairly and freely for both consumers and business. The President introduces a new proposal to help fix our financial crisis, the Consumer Financial Protection Agency. The agency's responsibility is to look out for the interests of everyday Americans in our financial industry.
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