The Change We Need
I'm proud to have the support of businessmen like Warren Buffett.
By BARACK OBAMA
This is a defining moment in our history. We face the worst economic crisis since the Great Depression -- 760,000 workers have lost their jobs this year. Businesses and families can't get credit. Home values are falling, and pensions are disappearing. Wages are lower than they've been in a decade, at a time when the costs of health care and college have never been higher.
At a moment like this, we can't afford four more years of spending increases, poorly designed tax cuts, or the complete lack of regulatory oversight that even former Federal Reserve Chairman Alan Greenspan now believes was a mistake. America needs a new direction. That's why I'm running for president of the United States.
Tomorrow, you can give this country the change we need.
My opponent, Senator McCain, has served his country honorably. He can even point to a few moments in the past where he has broken from his party. But over the past eight years, he's voted with President Bush 90% of the time. And when it comes to the economy, he still can't tell the American people one major thing he'd do differently from George Bush.
It's not change to come up with a tax plan that doesn't give a penny of relief to more than 100 million middle-class Americans -- a plan that even the National Review and other conservative organizations complain does far too little to benefit the middle class. It's not change to add more than $5 trillion to the deficits we've run up in recent years. It's not change to come up with a plan to address our housing crisis that puts another $300 billion of taxpayer money at risk -- a plan that the editorial board of this newspaper said "raises more questions than it answers."
If there's one thing we've learned from this economic crisis, it's that we are all in this together. From CEOs to shareholders, from financiers to factory workers, we all have a stake in each other's success because the more Americans prosper, the more America prospers.
That's why we've had titans of industry who've made it their mission to pay well enough that their employees could afford the products they made -- businessmen like Warren Buffett, whose support I'm proud to have. That's why our economy hasn't just been the world's greatest wealth creator -- it's been the world's greatest job generator. It's been the tide that has lifted the boats of the largest middle class in history.
To rebuild that middle class, I'll give a tax break to 95% of workers and their families. If you work, pay taxes, and make less than $200,000, you'll get a tax cut. If you make more than $250,000, you'll still pay taxes at a lower rate than in the 1990s -- and capital gains and dividend taxes one-third lower than they were under President Reagan.
We'll create two million new jobs by rebuilding our crumbling infrastructure and laying broadband lines that reach every corner of the country. I'll invest $15 billion a year over the next decade in renewable energy, creating five million new, green jobs that pay well, can't be outsourced, and can help end our dependence on Middle East oil.
When it comes to health care, we don't have to choose between a government-run system and the unaffordable one we have now. My opponent's plan would make you pay taxes on your health-care benefits for the first time in history. My plan will make health care affordable and accessible for every American. If you already have health insurance, the only change you'll see under my plan is lower premiums. If you don't, you'll be able to get the same kind of plan that members of Congress get for themselves.
To give every child a world-class education so they can compete in this global economy for the jobs of the 21st century, I'll invest in early childhood education and recruit an army of new teachers. But I'll also demand higher standards and more accountability. And we'll make a deal with every young American: If you commit to serving your community or your country, we will make sure you can afford your tuition.
And when it comes to keeping this country safe, I'll end the Iraq war responsibly so we stop spending $10 billion a month in Iraq while it sits on a huge surplus. For the sake of our economy, our military and the long-term stability of Iraq, it's time for the Iraqis to step up. I'll finally finish the fight against bin Laden and the al Qaeda terrorists who attacked us on 9/11, build new partnerships to defeat the threats of the 21st century, and restore our moral standing so that America remains the last, best hope of Earth.
None of this will be easy. It won't happen overnight. But I believe we can do this because I believe in America. This is the country that allowed our parents and grandparents to believe that even if they couldn't go to college, they could save a little bit each week so their child could; that even if they couldn't have their own business, they could work hard enough so their child could open one of their own. And at every moment in our history, we've risen to meet our challenges because we've never forgotten the fundamental truth that in America, our destiny is not written for us, but by us.
So tomorrow, I ask you to write our nation's next great chapter. I ask you to believe -- not just in my ability to bring about change, but in yours. Tomorrow, you can choose policies that invest in our middle class, create new jobs, and grow this economy so that everyone has a chance to succeed. You can choose hope over fear, unity over division, the promise of change over the power of the status quo. If you give me your vote, we won't just win this election -- together, we will change this country and change the world.
Mr. Obama is the Democratic nominee for president.
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What We're Fighting For
Protectionism and tax hikes are wrong for the economy.
By JOHN MCCAIN
The presidential election occurs at a pivotal moment. Our nation is fighting two wars abroad, suffers from the greatest global financial crisis since the Great Depression, and is facing a painful recession. I believe in the greatness of America. I believe in our capacity to prosper, and to be safer and remain a beacon of light on the global stage. But we cannot spend the next four years as we have spent much of the last eight: waiting for our luck to change. We have to act immediately. We have to fight for it.
The institutions that we counted on -- Wall Street banks, our elected leaders in Washington -- failed us. We must reverse the corruption and arrogance that have overtaken these institutions, and we must place our trust in the hands of those who have never let us down, especially the American family and small businesses.
We need to grow our small businesses, not tax them. I will fight the Democrats' plans to redistribute the fruit of America's labor and turn our economy into a full-fledged disaster. I will cut taxes on families, seniors, savers and businesses. We need to double the child deduction, cut the capital gains tax, and keep jobs in America with a lower business tax.
I will make government finally live on a budget and enforce that discipline by the power of veto. I won't spend nearly a trillion dollars more of your money. I will impose a short-term spending freeze and rid the government of waste, duplication and fraud. And I will chart a different course than the administration and Barack Obama and not spend your money just to bail out Wall Street bankers and brokers. I have a plan to protect the value of homes and get them rising again by refinancing mortgages so your neighbor won't default and further drag down the value of your house.
I will end three decades of failed energy policies; stop sending $700 billion to countries that oppose American values and finance our enemies; and drill for oil and natural gas. We must strengthen incentives for all energy alternatives -- nuclear, clean coal, wind, solar and tide. We will encourage the manufacture of hybrid, flex fuel and electric automobiles. We will lower the cost of energy, and create millions of new jobs.
I will not impose "one size fits all" health care on families and small businesses through expensive mandates and fines. I will bring down the skyrocketing cost of health care with competition and choice, reform the insurance market to be fair, and allow you to keep the same health plan if you change jobs or choose to stay home.
One in five jobs in the U.S. depends on trade and I will fight the threat to those jobs from Democrat plans for isolationism. I won't make it harder to sell our goods overseas and kill more jobs. I will open new markets to goods made in America and make sure our trade is free and fair. And I'll make sure we help workers who've lost a job that won't come back find a new one that won't go away.
Senator Obama wants to raise taxes and restrict trade. The last time America did that in a bad economy it led to the Great Depression.
While most Americans are rightly concerned with the economic crisis, a world of pressing national security challenges also awaits the next president.
The gains our troops have made in the past 18 months in Iraq could be lost if we pull our troops out prematurely and regardless of the conditions on the ground. We have also dealt devastating blows to al Qaeda, especially in Iraq, but terrorists have found sanctuary on the Pakistan frontier among those trying to topple governments in both Kabul and Islamabad.
Afghanistan is reaching a crisis point, just as Iraq did in 2006. As an early supporter of the surge strategy in Iraq, I know that turning around this situation will require more than just increased troop levels. We also need a new, comprehensive strategy, one that integrates civil and military efforts and engages with various Afghan tribes.
Other major threats loom on the horizon: the Iranian and North Korean nuclear programs; aggressive Russian behavior toward its neighbors; Venezuelan adventurism; genocide in Darfur; and global warming. And those are only the dangers that we know of. Just as few expected the Russians to invade Georgia, we remain unaware of precisely where our next crisis will erupt, or when. The only certainty is that, as Joe Biden guaranteed, the tests facing the next president will be more severe if he is seen as weak in national security leadership.
I have devoted my life to safeguarding America. Former Secretary of State George Shultz compares diplomacy to tending a garden -- if you want to see relationships flourish, you have to tend them. I have done that, by traveling the world and establishing ties with everyone from dissidents to heads of state. There is great need for American leadership in the world, and I understand that only by exercising that leadership with grace and wisdom can we be successful in safeguarding our interests.
When I am president, I will not offer up unconditional summit meetings with dangerous dictators, nor will I foreclose diplomatic tools that serve our interests. I will respect our trade agreements with our allies, not unilaterally renounce them. I will close the Guantanamo Bay prison and ban torture. I will expand our armed forces and transform our civil and military agencies to win the struggle against violent Islamic extremism.
I believe that America is an exceptional country, one that demands exceptional leadership. After the difficulties of the last eight years, Americans are hungry for change and they deserve it. My career has been dedicated to the security and prosperity of America and that of every nation that seeks to live in freedom. It's time to get our country, and our world, back on track.
Mr. McCain is the Republican nominee for president.
