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US economy: What Obama, McCain promise
September 29, 2008
It began with the government takeover of Fannie Mae and Freddie Mac in early September, and worsened with the market freefall and collapse of Lehman Brothers (which filed for bankruptcy on September 15), AIG (saved by $85 billion emergency funding from the US government) and Merrill Lynch (bought by Bank of America for just $50 billion), and culminating in the Capitol Hill drama over the $700 bailout plan for the accumulated bad assets that threaten to drown Wall Street.
The pertinent questions, then, are:
(1) What exactly do the two candidates promise to do with regard to economic matters;
(2) How have they responded to this month's economic crisis; and
(3) Whether or not their respective economic platforms are plausible.
Because, when looking at the two plans, it's important to remember that what a candidate promises on the campaign trail is often wildly different from what he or she can bring about once in office.
Image: Republican presidential nominee John McCain and Democratic presidential nominee Barack Obama stand on stage together following the first debate of the 2008 elections at the University of Mississippi on September 26, 2008 in Oxford, MS. | Photograph: Emmanuel Dunand/AFP/Getty Images
Also read: The world's most and least corrupt nations
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