Current Event -1

My current event was on the financial rescue plan. The plan is expected to cost $700 billion dollars.The plan would also put in place restrictions on the executive compensation of the firms that receive help and calls for more government oversight of the program. It would also require the Treasury Department to help distressed homeowners as part of the package, including rewriting bad mortgages. The Senate Democrats' plan also calls for the creation of an emergency oversight board made up of the Federal Reserve, Federal Deposit Insurance Corp. and Securities and Exchange Commission, plus two outside experts appointed by Congress. It also calls for the secretary of the Treasury to make monthly reports to Congress. But people are still skeptical about the plan as the price of oil spiked and Dow Jones' Average went down.

Week 1-Election post

I really have no party of choice. I choose more on the candidate and what platform they have rather then the party they are in although my ideals lean more to the liberal side. As of right now I am supporting Obama because of his stand on the energy crisis. I believe we have an addiction to foreign oil. I really like Obama's plan of creating a green sector, that will not only give us better energy sources but also create up to 5 million jobs.

Energy- Both Obama and McCain want to break our country's dependency on foreign oil but both seem to have different ways of achieving that goal. Obama's platform is more focused on renewable resources while McCain's platform is to lift the restrictions on off-shore drilling. Both have a similar car plan. Obama will put plug-in hybrid cars, cars that can get up to 150 miles per gallon, on the road by 2015. McCain is giving a 5,000 tax credit to customers that by a zero carbon emission car.

The economy- John McCain plans to help the economy out by enabling a summer gas tax holiday to suspend the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day. Obama would plan to enable a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills. McCain's plan to help support small businesses relies on creating cheap energy for the companies, he plans to create 45 nuclear power plants to create cheaper energy and creating 700,00 new jobs. Obama's plan is to eliminate all capital gains tax on start-up and small businesses to promote innovation and job creation.

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