Barack Obama is starting to release policy. He is probably better off keeping as much policy to himself if his latest utterances on tax and general economic policy are a guide. He seems to be aa fan of even bigger Government than the current crowd. Oh dear. This article is in today's Australian.
US presidential hopeful Barack Obama has shed new light on his economic plans for the US, saying he will rely on a heavy dose of government spending to spur growth, use the tax code to narrow the widening gap between winners and losers in the economy, and possibly back a reduction in corporate tax rates.
In an interview with The Wall Street Journal, the Illinois Democrat said he was trying to put together tax and spending policies that dealt with two challenges: competition from rapidly growing developing countries, such as India and China; and the US becoming what he called a "winner-take-all" economy, where gains from economic growth were skewed heavily toward the wealthy.
Senator Obama cited new economic forces to explain what appears a return to an older-style, big-government Democratic platform sceptical of market forces.
