Political Face-Off: Economic Advisors Go Head-to-Head
Jason Furman, Barack Obama's campaign director for economic policy, and Douglas Holtz-Eakin, John McCain's economic policy advisor, debate which candidate's economic plan is better for the country.
"I'd say that Americans are disappointed with the Bush administration after eight years, but they're equally troubled by a Congress that cannot seem to take on great problems," Holtz-Eakin said. "What John McCain believes is it's time to have an effective government — one that will have a comprehensive energy strategy, take control of our future. Let's have a government that uses Medicare as a leverage to transform the health care sector so it's not a burden on small businesses — doesn't chew into everyone's wages."
"I think we can't afford not to do something about our housing market," Furnman said. "I think it's the main cause of the financial turmoil that we're seeing in this country. It's the main cause if you're worried about what low interest rates do to inflation. If you're worried about the dollar, worried about any of these things, you need to go to the core of the problem.
"Let's look at what we've called for," Furman continued. "It's a bad idea to add to the deficit versus a one-time $10 billion investment in helping families who, through no fault of their own, are in a position that no one anticipated. It's a once-in-a-century occurrence in housing and critical investment for our economy as well."