Changes

Although the exact direction of the Administration is unknown, it is known from public policy statements and initial actions that it will take a more [[leftist]] position than the [[Bush Administration]] on issues such as taxing the rich and [[abortion]].   

Although the exact direction of the Administration is unknown, it is known from public policy statements and initial actions that it will take a more [[leftist]] position than the [[Bush Administration]] on issues such as taxing the rich and [[abortion]].   

==Economics==

==Economics==

The gravest crisis it faces is the [[Recession of 2008]], with the economy spiraling downward. Moving fast, the House on Jan. 28 passed an economic stimulus package‎ of $819 billion in new spending and tax increases, despite unanimous Republican opposition. A revised bill passed the Senate with three Republican votes. A compromise bill known as the "[[American Recovery and Reinvestment Act of 2009]]" has been passed by Congress, providing for $789 billion in tax increases and new spending. Depending on the day, democrats claim it will prevent 2, 3, or 4 million jobs from disappearing. <ref>http://www.freemarketproject.org/articles/2009/20090224125726.aspx</ref> While Detroit spread gloom on Feb. 17 as GM starkly warned of impending bankruptcy unless it gets more aid, Obama promised $275 billion to help people refinance their home mortgages. Thus far Obama's response to economic crisis closely parallels that of [[Herbert Hoover]] in 1930-31 in dealing with the [[Great Depression]]. It is too early to say if his plan will be as unsuccessful as Hoover's but the mortgage plan was dismissed by CNBC announcer [[Rick Santelli]] who called it "collectivist." The Wall Street Journal says the plan will cost up to $275 billion and will help up to nine million homeowners. Thus, the cost is about $30,000 per homeowner helped. <ref>http://online.wsj.com/article/SB123496582087411241.html?mod=todays_us_page_one</ref>

The gravest crisis it faces is the [[Recession of 2008]], with the economy spiraling downward. Moving fast, the House on Jan. 28 passed an economic stimulus package‎ of $819 billion in new spending and tax increases, despite unanimous Republican opposition. A revised bill passed the Senate with three Republican votes. A compromise bill known as the "[[American Recovery and Reinvestment Act of 2009]]" has been passed by Congress, providing for $789 billion in tax increases and new spending. Depending on the day, democrats claim it will prevent 2, 3, or 4 million jobs from disappearing. <ref>http://www.freemarketproject.org/articles/2009/20090224125726.aspx</ref> No tax rate decreases under the act and some tax rates increase. The plan does contain credits for people that engage in activities the government approves of such as taking out a mortgage. <ref>http://www.forbes.com/2009/02/27/obama-budget-small-business-personal-finance_obama_budget.html</ref>

 

While Detroit spread gloom on Feb. 17 as GM starkly warned of impending bankruptcy unless it gets more aid, Obama promised $275 billion to help people refinance their home mortgages. Thus far Obama's response to economic crisis closely parallels that of [[Herbert Hoover]] in 1930-31 in dealing with the [[Great Depression]]. It is too early to say if his plan will be as unsuccessful as Hoover's but the mortgage plan was dismissed by CNBC announcer [[Rick Santelli]] who called it "collectivist." The Wall Street Journal says the plan will cost up to $275 billion and will help up to nine million homeowners. Thus, the cost is about $30,000 per homeowner helped. <ref>http://online.wsj.com/article/SB123496582087411241.html?mod=todays_us_page_one</ref>

The Wall Street Journal reported that Obama's carbon [[cap and trade]] system will raise consumer energy prices. It will cost companies $645 billion between 2012 and 2019. Rep. John Boehner said, "Let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch, pure and simple."<ref>http://online.wsj.com/article/SB123566843777484625.html</ref>

The Wall Street Journal reported that Obama's carbon [[cap and trade]] system will raise consumer energy prices. It will cost companies $645 billion between 2012 and 2019. Rep. John Boehner said, "Let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch, pure and simple."<ref>http://online.wsj.com/article/SB123566843777484625.html</ref>