Barack Obama widened his economic agenda today, announcing proposals to create new jobs, give Americans access to retirement savings without penalty, implement a 90-day freeze on foreclosures of homeowners making good-faith efforts to pay lenders aided by the bailout plan, and make loans to credit-hungry local and state governments.
John McCain, set to kick off the week with a comprehensive economic proposal, scratched the idea when a Sunday night strategy meeting collapsed. McCain was planning on rolling out new tax cuts to jumpstart the economy. After rejecting the new economic plans offered by his advisors, McCain delivered an underdog speech, saying Obama was already measuring the drapes and planning to increase taxes with Pelosi. Still, GOP advisors want to see McCain focus on a consistent economic message distinct from Bush's.
Meanwhile, freshly minted Nobel-prize winner Paul Krugman thinks British PM Gordon Brown may have saved the world financial system (maybe we can give Brown a prize, too). Playing an effective leadership role the US presidential candidates dream of, Brown announced a smart plan to inject major equity into British banks and started doing so five days after he announced the plan.