BARACK OBAMA HOLDS ECONOMIC SUMMIT ON RECLAIMING THE AMERICAN DREAM

2/1/08 Senator Barack Obama today held an economic summit in Albuquerque, New Mexico where he discussed some of the greatest economic challenges facing working families and outlined his plans to stimulate the economy and help reclaim the American dream.
“In this election – at this moment – it is time to restore that dream for every single American and put America back on the path to prosperity,” Obama said. “It is time to not only provide a much-needed short-term stimulus to our economy, but to finally address the long-term inequities and insecurities that have kept opportunity beyond the reach of too many hardworking Americans.
Obama was joined at the event by Federico Pena, former Mayor of Denver and U.S. Secretary of Transportation and Energy; Bill Daley, former U.S. Secretary of Commerce; Patricia Madrid, former New Mexico Attorney General; Austan Goolsbee, an economics professor and senior Obama economic advisor; and Bonnie Greathouse, the lead organizer for ACORN New Mexico. Madrid announced her endorsement of Obama for president earlier today.
During the event, Bonnie Greathouse shared with the group how at a time when costs are rising and people are working harder just to keep up, the families she works with are increasingly falling victim to predatory lending tactics and find themselves without a financial safety net.
“The working people of ACORN are busy fighting to save our homes from predators and building a world where we can feed our families without working two jobs,” Greathouse said. “It’s been good to have this opportunity to talk to Senator Obama about how to build this world.”
Pena discussed the importance of creating higher-wage jobs, particularly through the investment in new energy technology, and Daley argued that an immediate injection of stimulus into the economy by putting money in the hands of working families is critical for restoring confidence in the economy.
“We need to start making substantial investments in energy research, development and deployment to spur the creation of a new industry in America which will ensure our long-term economic stability,” said Pena. “Barack Obama recognizes the importance of taking this step, and his energy strategy puts us on the right path to renewed economic growth.”
"In order to put the economy back on track, it is critical that we have a short-term stimulus plan like the one proposed by Barack Obama that can deliver results quickly, as well as the kind of leadership that conveys a desire to bring parties together to take swift action to move the economy," Daley said.
Madrid, who helped push through some of the most stringent state laws on predatory mortgage lending as New Mexico Attorney General, applauded Obama’s work on the issue and discussed measures to stabilize the housing market.
“It’s appropriate that Barack Obama is in New Mexico to discuss the state of the economy and the plight of the middle class. This is a state that has been ravished by predatory lending and fraudulent mortgage practices,” Madrid said. “And while our state has responded with legislation, this is a problem that requires federal leadership - leadership that only Barack Obama can provide.”Goolsbee highlighted how investment in education and training can create new higher-paying jobs and boost the US economy.
"Barack Obama has been out front in addressing the squeeze on working, middle class families for the last seven years,” said Goolsbee. “His program of broad based tax relief right now and investing in the skills of our workers and the high technology of the future will help us keep people employed and keep America the greatest economy in the world."
Obama has announced a plan to help working families reclaim the American dream that includes making college affordable and investing in higher-wage job growth, protecting consumers from predatory credit card and mortgage lending and helping more working Americans plan and save for retirement. He also recently rolled out a package to stimulate the economy by immediately placing money in the hands of those most likely to spend it through tax rebates and a Social Security supplement for seniors.
Obama’s plans to strengthen our economy and help working families reclaim the American dream can be viewed in full HERE.