Barack Obama - Business

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Congress should follow "pay as you go" budget rules. Paying for what you spend is basic common sense.

Congress should enact the Employee Free Choice Act. "It’s not a matter of if, it’s a matter of when.”

It was appropriate for the Obama Administration to force GM's CEO Rick Wagoner to resign. Obama forced GM Chief to resign.

The Obama Administration's handling of the auto bailout has been satisfactory. "Everybody is going to have to come to the table and say it’s important for us to take serious restructuring steps now, in order to preserve a brighter future down the road.”

The U.S. dollar should be the world's reserve currency. I don't believe that there's a need for global currency.

Congress should grant the Treasury Department authority to take over non-bank financial institutions that pose a systemic risk. Obama hopes "it doesn’t take too long to convince Congress” to approve broader regulation.

Secretary Geithner's public-private partnership to buy up toxic assets will help stabilize the financial system. "I’m very confident that . . . we’re going to be able to make it happen.”

The U.S. government should try to recoup AIG bonuses. Pursue every single legal avenue to block these bonuses and make the American taxpayers whole.

Governments should not nationalize insolvent banks in response to the financial crisis. "it wouldn’t make sense [for U.S. economy]"

The economic stimulus plan should not include a 'Buy American' provision. Obama steps back on 'Buy America'

Congress should implement a payroll tax holiday in light of the recession. Obama's "make work pay" proposal included temporary holiday in collection of some payroll taxes.

The government should regulate salaries of companies who have received bailout funds. White House spokesman: "Very safe" to assume there will be new rules on bonuses and executive pay.

Unions have a positive impact on the economy. Labor is not part of the problem, it is part of the solution.

The U.S. government should implement a moratorium on home foreclosures. Proposed 90-day moratorium on home foreclosures in October

Public investment should have a higher priority than tax cuts in Barack Obama's stimulus package. "Most bang for the buck in terms of stimulus"

The government should follow the principles of Keynesian economics during a recession. At this particular moment, only government can provide the short-term boost necessary to lift us from a recession this deep and severe.

The U.S. federal government should provide financial support to its auto industry. Has repeatedly said he would take significant steps to help stabilize U.S. auto makers

The federal government should pass the proposed $700 billion financial system bailout. Obama voted for the bailout, as amended.

Congress should increase the cap on federally insured bank deposits. Voted in favor of HR 1424

The Treasury Department should block severance packages for Fannie and Freddie corporate executives. "...unacceptable for executives of these institutions to earn a windfall.."

Governments should infuse capital directly into failing banks as part of their response to the financial crisis. "...I support Secretary Paulson's latest initiative to use the authority we gave him in the financial rescue plan to provide more capital to our financial institutions..."

Bush Administration policies have had a negative impact on the economy. "This country can't afford another four years of this failed philosophy"

The U.S. is undergoing the worst financial crisis since the Great Depression. "the most serious financial crisis since the Great Depression."

AIG should have been bailed out by the federal government. Obama "does not second-guess the Fed's decision to take unprecedented action to prevent the failture of one of the largest insurance companeis in the world"

Congress should issue a second round of the 2008 stimulus checks. Obama proposes an additional $50 Billion in stimulus checks

Anheuser-Busch should not accept InBev's acquisition deal. "A shame."

The U.S. should not end agricultural subsidies. Safety net, help organic farmers, and incentives for new farmers

Market speculation is having the greatest impact on rising oil prices. Cracking down on excessive energy speculation to ease the impact of record oil price increases

The government should offer cash rewards to citizens for developing new technology. Cash prizes to most promising technologies

Governments should subsidize property insurance coverage for natural disasters. "It's important for us to make sure the federal government is playing a role."

Corporations should pay heavier taxes on windfall profits. Obama calls for windfall tax on oil

The U.S. should increase the cap on visas for skilled workers. Obama supports "stopgap" increase.

The U.S. should not pass the U.S.-Colombia Free Trade Agreement. Promised to stand firm in his opposition.

The United States Mint should stop circulating the penny. "We have been trying to eliminate the penny for quite some time."

The Federal Reserve should have more authority to supervise financial institutions. "The American economy does not stand still, and neither should the rules that govern it."

Bankruptcy courts should have the power to adjust home mortgages. "So families aren’t forced to stick to the terms of a home loan that was predatory or unfair"

Motorists should be charged a fee to enter congested city centers. Endorses Bloomberg's plan; "I think Mayor Bloomberg’s proposal for congestion pricing is a thoughtful and innovative approach to the problem."

The U.S. economy will go into recession in 2008. "We probably already are in one"

The government should provide financial assistance to homeowners facing foreclosure. Called for a fund to help homeowners refinance their mortgages to avoid foreclosure

Victims of major natural disasters should be granted special relief in bankruptcy. Obama co-sponsored Hurricane Katrina Bankruptcy Relief