With the value of the dollar at record lows, the sub-prime mortgage crisis continuing to fester, the rising cost of oil, and worldwide food shortages, one would think that our mainstream media would spend a greater time comparing the candidates’ plans for jumpstarting the economy. Unfortunately, most Americans are uninformed about how the candidates would strengthen our economy. The economic stimulus packages of Senators Obama and Clinton are strikingly similar, and differ greatly with that of Senator John McCain. Both Clinton and Obama would repeal tax cuts for the wealthy in order to provide money for overhauling the healthcare system. Senator Clinton proposes extending federal college aid to include retraining for the unemployed. She also proposes overhauling the credit care system to limit rate hikes and high fees. Senator Obama proposes a new tax code that favors low and middle class Americans, as opposed to the current one which favors wealthy individuals and corporations. He also favors eliminating taxes altogether for seniors making less than $50,000 a year.
Senator Obama recently received a key endorsement based on his economic vision. "After 30 years in government, serving under five presidents of both parties and chairing two non-partisan commissions on the Public Service, I have been reluctant to engage in political campaigns," stated former chairman of the Federal Reserve, Paul Volcker. "The time has come to overcome that reluctance. It is only Barack Obama, in his person, in his ideas, in his ability to understand and to articulate both our needs and our hopes that provide the potential for strong and fresh leadership."
Given Volcker’s background and experience, his endorsement of Senator Obama is considered to be one of the most significant endorsements of the current Presidential campaign.
One of the most important issues that faces our country is the rising financial burden of the healthcare system. America spends over $6,000 for every man, woman, and child annually for healthcare, which is double the amount that any other industrialized nations spends. Currently, more than 47 million Americans are uninsured. Universal healthcare, is a topic that has been debated and discussed ever since Senator Clinton’s husband was elected President in 1992. Then, as first lady, Hillary headed the Task Force on National Healthcare Reform. The plan was to provide universal health care for all Americans. Several plans were put forth by Senator Clinton at the time, and they received condemnation and criticism by both Democrats and Republicans, and were opposed by physicians and insurance companies. The idea of universal health coverage was sheleved in 1994 when Republicans gained control of the House of Representatives and Senate. The current state of the healthcare system is in such shambles, that the debate on universal healthcare has been ignited anew during the last few years.
Both Senators Clinton and Obama have proposed healthcare plans that if put into effect would be better than the current system. Both would require insurers to provide healthcare, regardless of pre-existing health conditions. However, there are significant differences between the two plans.
Senator Clinton proposes a mandate that requires every individual to obtain coverage. Those with modest incomes would receive tax breaks in order to obtain affordable health care. Large companies would be required to provide coverage for their employees or pay a tax. Small companies would receive tax breaks in order to provide coverage for their employees.
Consumers could choose between private health plans, or a federal health plan similar to medicare.
Senator Obama’s plan does not mandate healthcare coverage, except for children. His plan would make healthcare affordable and comprehensive. Consumers would have all of the benefits that members of Congress have. Senator Obama’s plan also requires large employers to contribute to the health benefits of their employees, or contribute a portion of their payroll to a national plan. Small employers would be exempt from payroll contribution. He would lower costs by increasing insurance competition, and forcing pharmaceutical companies to lower drug costs.
InFocus encourages American Muslims to look beyond the headlines and controversies surrounding the Presidential Campaign of 2008. While the issues of race and gender are unique to this year’s campaign, they are insignificant in comparison to the real challenges that face our nation and the world. Only when we are truly informed can we best decide who would make a better nominee for the Democratic Party, and who would be best to lead our nation.
