Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Obama Plan Includes Freeze on Foreclosures

Plan would ease borrowing from retirement accounts

By Harry Kimball,  Newser Staff

Posted Oct 13, 2008 3:49 PM CDT

(Newser) – Barack Obama detailed an economic rescue plan today that includes incentives for job creation and a federal credit line for state and local governments, the Toledo Blade reports. Playing to voters in hard-hit Ohio as he preps for Wednesday's debate, Obama said, "I won’t pretend that this will be easy. We’re going to have to attach priorities."

Obama urged Congress to act on the plan as quickly as possible, likely after the election, the Washington Post reports. A McCain spokesman criticized the plan as too expensive, saying, “Raising taxes on the American people and American business will have a devastating effect.” Obama also floated the possibility of increased aid to the auto industry and the consumer credit market.

Obama at the convention center.
Obama at the convention center.   (AP Photo)
Barack Obama campaigns at the Seagate Convention Centre in Toledo, Ohio today.
Barack Obama campaigns at the Seagate Convention Centre in Toledo, Ohio today.   (AP Photo)
Obama today in Toledo.
Obama today in Toledo.   (AP Photo)
Michelle Obama campaigns for her husband.
Michelle Obama campaigns for her husband.   (AP Photo)
« Prev« Prev | Next »Next » Slideshow

People have been forced to turn to credit cards and home equity loans to keep up...Once we get past the present emergency, which requires immediate new investments, we have to break that cycle of debt. - Barack Obama

« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Full Game Change Trailer Debuts

Game Change Trailer Stars Terrifying Sarah Palin

Most Popular National Politician Today Is ...

Geithner Blew Off Obama's Order to Dissolve Citigroup

Sarah Palin on 2008 Loss: 'I Wasn't at Top of Ticket'


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne