WASHINGTON — Hillary Rodham Clinton, Barack Obama and John McCain have diagnosed the swooning U.S. economy and have come up with rival plans to revive it. If the downturn lasts as long as some economists predict, one of the three will get a chance to try to sell his or her proposal to Congress as president.
Or if the economy hits bottom before Inauguration Day and then turns up, the victor may be handed a rare gift: the chance to begin a presidency presiding over the early stages of a rebound.
Take your pick. Who knows where the economy will be in nine and a half months?
As economic clouds darkened last week, all three candidates delivered major speeches on the economy while the Bush administration prepared a plan to give the Federal Reserve new regulatory powers over the financial system.
Democrats Clinton and Obama outlined competing $30 billion stimulus packages to help homeowners facing foreclosure and other victims of the financial crisis. This would be on top of the $168 billion stimulus package of rebates and temporary tax cuts passed by Congress last month and signed by President Bush. Both Clinton and Obama also called for broader financial regulation.
Republican John McCain advocated voluntary action by lenders, more transparency in the lending process and the convening of a national conference of accountants and mortgage lenders to review how real estate is valued. He opposed large, taxpayer-financed bailouts but backed cuts in corporate tax rates and making permanent expiring Bush tax cuts.
The two Democrats are calling for a more activist role for the U.S. government to protect individuals. McCain is echoing standard GOP dogma of protecting markets and opposing bailouts.
Local News
UPDATE — Presidential candidates propose rival economic recovery plans, one may make next budget
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Funeral today for former WVU football coach Bill Stewart
Former West Virginia University football coach Bill Stewart is heading home to New Martinsville for the last time.
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Tears and memories: VIDEO
It was mid-Thursday afternoon at the Morgantown Event Center and the crowd stood mostly silently in line that wound out of the Events Hall and into the hallway toward the staircase.
A young lady was there holding a singular golden rose
“I wish,” Rebecca Durst said, “it could be gold and blue.” -
‘Dangerous fugitive’ is apprehended
Two more targets of “Operation Blue Haze” were apprehended by U.S. Marshals and local police Thursday.
Bryan Keith Egress, 28, described by United States Marshals as a “dangerous fugitive,” was arrested around midnight Thursday at 1410 Miller St., Fairmont, the residence of his girlfriend. -
Excitement marks Three Rivers Festival
It was 5:55 p.m. Thursday on Merchant Street. Kids ran up and down the sidewalks, as their older siblings strolled along the side of the street. Waiting.
There was a certain energy in the air. An expectation. -
Spring paving under way
Some folks in the Friendly City are seeing a fresh coat of asphalt go down on the street in front of their homes.
City Manager Jay Rogers said Fairmont’s spring paving project will resurface two blocks of Gaston, Virginia and Minor avenues, as well as Moore Place from 12th Street to 14th Street. -
Fairmont Catholic’s Arts Festival popular event
Students at Fairmont Catholic were not lined up in their respective rows or seats on Thursday morning.
Some were dancing in a classroom, attempting to follow the lead of Shawna Gerau-Santee, owner of the Fifth Street Dance Co. -
‘Nothing suspicious’
A Maple Avenue home sustained damage following a morning fire Wednesday.
The Fairmont Fire Department was called to the home at 601 1/2 Maple Ave. at 8:55 a.m. Wednesday. -
Day Report Center growing
It’s been more than two years since the Marion County Day Report Center took in its first participant.
Since then, the Day Report Center has continued to grow, as 161 additional people have walked through its doors. Of the 162 participants, 60 are active. Five counselors serve on the staff to accommodate the number of participants. -
Three Rivers Festival to start today
The smell of cotton candy, kids’ laughter on a carnival ride and excitement from the parade are familiar memories for people who look forward to a local event that attracts many every year.
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Arrests made in robbery, drug-selling cases
Fairmont police and the Marion County Sheriff’s Department have made arrests in robbery and drug-selling cases.
On Tuesday, deputies arrested Bethanie L. Carpenter, 23, for conspiracy to commit a felony in a robbery case from earlier in the month. - More Local News Headlines
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