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Presidential Candidates Campaign on Economy

Posted by: Lisa Nichols | Mar 25,2008

As reports of at-risk homeowners continue to swirl in the news, the presidential candidates have started campaigning on economic issues in earnest. Looking at ways to prevent home foreclosures now and in the future is on the minds of all of the candidates. The presidential candidates views on the economy vary, but all include creating summits with economic leaders to help Americans prevent home foreclosures.

 

Hillary Clinton Proposes Helping Homeowners in Trouble

 

In a speech yesterday, Senator Hillary Clinton proposed creating a $30 billion economic stimulus fund to help local communities prevent home foreclosures. Clinton’s plan to help homeowners includes putting together a team to provide solutions for at-risk mortgage restructuring. The group would include American economic experts Alan Greenspan, Robert Rubin and Paul Volcker. Clinton also wants money to funnel directly to at-risk homeowners to help prevent home foreclosures and to help them get back on their feet. 

 

John McCain Wants Accountability

 

Senator John McCain wants accountability for the housing crisis. In an address to Los Angeles, California-area business leaders, McCain stated that it isn’t “the duty of the government to bail out and reward those who act irresponsibly.” McCain insists that any government assistance to prevent home foreclosures should be temporary. The senator prefers to look at ideas for long-term plans that prevent homeowners from becoming at risk again in the future. Mortgage companies must be held accountable for their actions, says McCain, and no assistance should be provided to speculators, or to people who own rental properties or have second homes. 

 

Barack Obama Hopes Talks Save Homes

 

Like Clinton, Senator Barack Obama has also talked about putting together a group of people tasked with finding ways to prevent home foreclosures. But with a twist: Obama’s proposed group would include consumer advocates, housing agencies, lenders and more to provide a diverse group perspective. Obama also wants guarantees that mortgage companies will convert subprime loans to 30-year fixed-rate mortgage loans. In addition, the senator wants to use penalties paid by mortgage companies that committed fraud to create a fund for homeowners who are at risk for foreclosure.

 

Compare the presidential candidates and their views on the economy using the PriceGrabber.com Election Guide. The Election Guide on PriceGrabber.com offers an easy way to compare candidates, review candidate profiles and read discussions about the candidates online. Visit the PriceGrabber.com Election Guide and learn more now.

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