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Obama’s Economic Policy Proposals

By Justin Gardner | Related entries in 2008 Election, Barack, Economy

The taste…

A Secure Retirement – Obama will require employers to enroll every worker in a direct deposit retirement account that places a small percentage of each paycheck into savings. Workers would be able to retain this account even if they change jobs, and the federal government will match the savings for working families.

A Credit Card Bill of Rights – Obama will institute a five-star rating system to inform consumers about the level of risk involved in every credit card and establish a Credit Card Bill of Rights that will ban unilateral changes to a credit card agreement; ban rate changes to debt that’s already incurred; and ban interest on fees.

Reforming Bankruptcy Laws – Obama will reform bankruptcy laws to make sure that those who can demonstrate they went bankrupt because of medical expenses can relieve their debt and get back on their feet.

More here.

This entry was posted on Thursday, February 14th, 2008 and is filed under 2008 Election, Barack, Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Obama’s Economic Policy Proposals”

Bob Aman Says:
February 14th, 2008 at 10:56 pm
Interesting. I’d like a LOT more details on this:

A Secure Retirement – Obama will require employers to enroll every worker in a direct deposit retirement account that places a small percentage of each paycheck into savings. Workers would be able to retain this account even if they change jobs, and the federal government will match the savings for working families.

First, do I get to pick which bank controls the account? Do I get to determine what that “small percentage” works out to? If not, do I control which bank has the account after I switch jobs? If I switch jobs, and I migrate the account elsewhere, then start a new job, is there a second account that also has to be migrated when I move on? If I’m self-employed (which I am) then what? Is there still matching deposits from the government? What if I don’t want to bother with this account at all? I’m assuming we’re not talking about just a 401(k) here. Is all of this limited in the same ways as an IRA/401(k)/etc in terms of actually using the money prior to retirement?

One paragraph is insufficient. Couldn’t the campaign provide links to a more detailed document perhaps?

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