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Essay / Research Paper Abstract
In nine pages this paper examines the similarities and differences in the economic and business plans of 2008 presidential nominees Barack Obama and John McCain, and also considers how the economy would be affected overall by the implementation of each candidate’s plans. Eight sources are listed in the bibliography.
Page Count:
9 pages (~225 words per page)
File: TG15_TGomecon.rtf
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Unformatted sample text from the term paper:
next year, which is almost triple the levels of fiscal 2007 (Sasseen & Zegel, 2008). A deficit of nearly $500 billion would amount to 3.6 percent of the gross
domestic product (GDP) (Sasseen & Zegel, 2008). If that was not discouraging enough, the recent financial crisis that has required Uncle Sam to provide expensive corporate bailouts will seriously
affect an already strained economy, businesses both large and small, and taxpayers across the board. The next President of the United States will have to have at his disposal
various plans that can be implemented immediately. During the 2008 presidential campaign Democratic nominee Barack Obama and Republican nominee John McCain presented the American public their respective economic and
business plan proposals. Not surprisingly, their plans offer more differences than similarities. Barack Obamas economic package, dubbed the "Rescue Plan for the Middle Class," requires more than $50 billion
in additional federal spending because of the tax credits he is using as an incentive for the creation of jobs (Youngman, 2008). This plan also includes retirement savings penalty
free withdraws for 2008 and 2009 (Youngman, 2008). It also requires banks to guarantee a mortgage foreclosure moratorium of 90 days (A Plethora of Plans, 2008). In terms
of specifics, Obama has offered greater detail about where he would increase taxes than has been his opponent. He believes that many of Americas economic woes have to do
with the tax penalties incurred by working-class and middle-class families (Sasseen & Zegel, 2008). His near-term stimulus package would cost $50 billion, and $65 billion in the long term,
which would be used to finance a government health insurance program to offer coverage to the uninsured, plus another $150+ billion on environmentally friendly technology development over the next ten
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