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Obama-McCain Presidential Election Issue Comparison 2008 International Herald Tribune
Readers are highly encouraged to conduct further research at the websites for Senators Obama and McCain.
Issue: Abortion
Obama	McCain
Favors abortion rights.	Opposes abortion rights. Has voted for abortion restrictions permissible under Roe v. Wade, the 1973 Supreme Court ruling that legalized the procedure. Now says he would seek to overturn that guarantee of abortion rights while being open to a running mate who supports abortion rights. Would not seek constitutional amendment to ban abortion.
Issue: Afghanistan
Would add about 7,000 troops to the U.S. force of 36,000, bringing the reinforcements from Iraq. Has threatened unilateral attack on high-value terrorist targets in Pakistan as they become exposed, "if Pakistan cannot or will not act" against them.	Favors unspecified boost in U.S. forces.
Issue: Campaign Finance
The presidential campaign's fundraising champion has brought in $390 million. He plans to raise private money for his general election, despite his proposal last year to accept public financing and its spending limits if the Republican nominee does, too. Obama refuses to accept money from federal lobbyists and has instructed the Democratic National Committee to do the same for its joint victory fund, an account that would benefit the nominee. Obama does accept money from state lobbyists and from family members of federal lobbyists.	The co-author of McCain-Feingold campaign finance law, he plans to run his general campaign with public money and within its spending limits. He has urged Obama to do the same. He applied for federal matching funds for primaries but later turned them down so he could spend more than the limits. Federal Election Commission belatedly approved his decision to bypass the primary funds, but rejected McCain's claim that he needed no such approval. McCain accepts campaign contributions from lobbyists.
Issue: Cuba
Ease restrictions on family-related travel and on money Cuban-Americans want to send to their families in Cuba. Open to meeting new Cuban leader Raul Castro without preconditions. Ease trade embargo if Havana "begins opening Cuba to meaningful democratic change."	Ease restrictions on Cuba once U.S. is "confident that the transition to a free and open democracy is being made."
Issue: Death Penalty
Supports death penalty for crimes for which the "community is justified in expressing the full measure of its outrage." As Illinois lawmaker, wrote bill mandating videotaping of interrogations and confessions in capital cases and sought other changes in system that had produced wrongful convictions.	Has supported expansion of the federal death penalty and limits on appeals.
Issue: Education
An $18 billion plan that would encourage, but not mandate, universal pre-kindergarten. Teacher pay raises tied to, although not based solely on, test scores. An overhaul of President George W. Bush's No Child Left Behind law to better measure student progress, make room for non-core subjects like music and art and be less punitive toward failing schools. A tax credit to pay up to $4,000 of college costs for students who perform 100 hours of community service a year. Obama would pay for his plan by ending corporate tax deductions for CEO pay and delaying NASA's moon and Mars missions.	Favors parental choice of schools, including vouchers for private schools when approved by local officials, and right of parents to choose home schooling. More money for community college education.
Issue: Energy
Now would consider limited increase in offshore drilling. Opposes drilling in Arctic reserve. Proposes windfall-profits tax on largest oil companies to pay for energy rebate of up to $1,000. Opposed suspension of the gas tax. Open to tapping the Strategic Petroleum Reserve for short-term relief from high energy costs. Global warming plan would increase energy costs.	Favors increased offshore drilling and federal money to help build 45 nuclear power reactors by 2030. Opposes drilling in Arctic National Wildlife Refuge. Proposed suspending the 18-cent a gallon federal gasoline tax but idea got no traction. Global warming plan would increase energy costs.
Issue: Gay Marriage
Opposes constitutional amendment to ban it. Supports civil unions, says states should decide about marriage	Opposes constitutional amendment to ban it. Says same-sex couples should be allowed to enter into legal agreements for insurance and similar benefits, and states should decide about marriage.
Issue: Global Warming
Ten-year, $150 billion program to produce "climate friendly" energy supplies that he'd pay for with a carbon auction requiring businesses to bid competitively for the right to pollute and aimed at cutting greenhouse gas emissions 80 percent by 2050. Joined McCain in sponsoring earlier legislation that would set mandatory caps on greenhouse gas emissions. Supports tougher fuel-efficiency standards.	Broke with President George W. Bush, also a Republican, on global warming. Led Senate effort to cap greenhouse gas emissions; favors tougher fuel efficiency standards. Favors plan that would see greenhouse gas emissions cut by 60 percent by 2050.
Issue: Gun Control
Voted to leave gun-makers and dealers open to suit. Also, as Illinois state lawmaker, supported ban on all forms of semiautomatic weapons and tighter state restrictions generally on firearms.	Voted against ban on assault-type weapons but in favor of requiring background checks at gun shows. Voted to shield gun-makers and dealers from civil suits.
Issue: Health Care
Mandatory coverage for children, no mandate for adults. Aim for universal coverage by requiring employers to share costs of insuring workers and by offering coverage similar to that in plan for federal employees. Says package would cost up to $65 billion a year after unspecified savings from making system more efficient. Raise taxes on wealthier families to pay the cost.	$2,500 refundable tax credit for individuals, $5,000 for families, to make health insurance more affordable. No mandate for universal coverage. In gaining the tax credit, workers could not deduct the portion of their workplace health insurance paid by their employers.
Issue: Housing
Tax credit covering 10 percent of annual mortgage-interest payments for "struggling homeowners," scoring system for consumers to compare mortgages, a fund for mortgage-fraud victims, new penalties for mortgage fraud, aid to state and local governments stung by housing crisis, in $20 billion plan geared to "responsible homeowners."	Open to helping homeowners facing foreclosure if they are "legitimate borrowers" and not speculators.
Issue: Immigration
Voted for 2006 bill offering legal status to illegal immigrants subject to conditions, including English proficiency and payment of back taxes and fines. Voted for border fence.	Sponsored 2006 bill that would have allowed illegal immigrants to stay in the U.S., work and apply to become legal residents after learning English, paying fines and back taxes and clearing a background check. Now says he would secure the border first. Supports border fence.
Issue: Iran
Initially said he would meet Ahmadinejad without preconditions, now says he's not sure "Ahmadinejad is the right person to meet with right now." But says direct diplomacy with Iranian leaders would give U.S. more credibility to press for tougher international sanctions. Says he would intensify diplomatic pressure on Tehran before Israel feels the need to take unilateral military action against Iranian nuclear facilities.	Favors tougher sanctions, opposes direct high-level talks with President Mahmoud Ahmadinejad.
Issue: Iraq
Spoke against war at start, opposed troop increase. Voted against one major military spending bill in May 2007; otherwise voted in favor of money to support the war. Says his plan would complete withdrawal of combat troops in 16 months. Initially had said a timetable for completing withdrawal would be irresponsible without knowing what facts he'd face in office.	Opposes scheduling a troop withdrawal, saying latest strategy is succeeding. Supported decision to go to war, but was early critic of the manner in which administration prosecuted it. Was key backer of the troop increase. Willing to have permanent U.S. peacekeeping forces in Iraq.
Issue: Social Security
Would raise payroll tax on wealthiest by applying it to portion of income over $250,000. Now, payroll tax is applied to income up to $102,000. Rules out raising the retirement age for benefits.	"Nothing's off the table" when it comes to saving Social Security.
Issue: Stem Cell Research
Supports relaxing federal restrictions on financing of embryonic stem cell research.	Supports relaxing federal restrictions on financing of embryonic stem cell research.
Issue: Taxes
Raise income taxes on wealthiest and their capital gains and dividends taxes. Raise corporate taxes. $80 billion in tax breaks mainly for poor workers and elderly, including tripling Earned Income Tax Credit for minimum-wage workers and higher credit for larger families. Eliminate tax-filing requirement for older workers making under $50,000. A mortgage-interest credit could be used by lower-income homeowners who do not take the mortgage-interest deduction because they do not itemize their taxes.	Pledged not to raise taxes, then equivocated, saying nothing can be ruled out in negotiating compromises to keep Social Security solvent. Twice opposed Bush's tax cuts, at first because he said they were tilted to the wealthiest and again because of the unknown costs of Iraq war. Now says those tax cuts, expiring in 2010, should be permanent. Proposes cutting corporate tax rate to 25 percent. Promises balance budget in first term, says that is unlikely in his first year.
Issue: Trade
Seek to reopen North American Free Trade Agreement to strengthen enforcement of labor and environmental standards. In 2004 Senate campaign, called for "enforcing existing trade agreements," not amending them.	Free trade advocate.

Wasn't the bailout supposed to take care of this?

WASHINGTON (AP) — The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.

The Federal Reserve, invoking Depression-era power under ''unusual and exigent circumstances,'' will buy ''commercial paper,'' a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls.

The $99.4 billion daily market for this crucial financing, which relies on investors rather than banks, has virtually dried up. Most investors have become too jittery to buy paper for longer than overnight or a couple days.

That has made it increasingly difficult and expensive for companies to raise money to fund their operations. Commercial paper is a way of borrowing money for short periods, typically ranging from overnight to less than a week.

The unstable situation has left many companies vulnerable. The notion under the plan is for the government to provide a ''backstop'' that would give companies a new place to get cash, the Fed said. The action makes the Fed a source of credit for nonfinancial businesses in addition to commercial banks and investment firms.

I guess this one is different.