2008-06-09 Obama: Give economy $50 billion boost

Specs

Date:	2008-06-09
Link:	http://money.cnn.com/2008/06/09/news/economy/obama_economy_changetour/
Source:
Topics:	Barack Obama US economy 2008 US presidential race
Categories:	Barack Obama US economy 2008 US presidential race

Obama: Give economy $50 billion boost

“On the first day of what is to be a two-week economic tour around the country, Barack Obama said Monday that lawmakers should inject another $50 billion immediately into the sluggish U.S. economy. .. The presumptive Democratic presidential nominee cited the largest monthly increase in the unemployment rate in over 20 years, and record highs in oil prices, food prices and foreclosures. ... Obama has pledged to keep the tax cuts in place for everyone except those making roughly $250,000 and up. He has also made proposals to cut taxes further for the middle class, some of which he reiterated in his speech: exempt seniors making less than $50,000 from having to pay income tax; give a tax credit worth up to $500 per working person ($1,000 per family) to offset the Social Security tax on the first $8,100 of earnings; and expand the earned income tax credit.”