Politics Monthly.com

Obama Unveils Economic Proposals, as McCain Vows to Fight for Main Street

Barack Obama unveiled a new economic rescue plan Monday geared toward middle-class voters as John McCain tried to energize supporters and convince them he can win on Nov. 4.

McCain kept his re-tooled stump speech geared toward the economy. While he may not offer any fresh economic prescriptions beforeWednesday's final presidential debate, he has over the past week rolled out a $300 billion plan to purchase and renegotiate mortgages directly and other proposals -- he focused on those promises Monday at a rally in Virginia Beach, Va.

Strategists: McCain must hammer on economy

Top Republican strategists believe John McCain’s stalled presidential campaign can only be revived if the Arizona senator takes an immediate and decisive turn in direction, one marked by an almost unwavering focus on the economy and a sharp break from Bush administration economic policy.

While Barack Obama’s past associations with controversial figures such as former radical William Ayers should be a part of McCain's closing argument, they say, the GOP nominee needs to primarily concentrate on the historic nature of the current economic cris...

Race drives strategy, stirs uncertainty

Journalists by instinct tend to hedge their bets, so most don’t say in public what they really think. But our conversations with colleagues make clear what many think about the great race between Barack Obama and John McCain: This election is just about over, and Obama is just about to be president.

There’s a big difference, of course, between just about over and stick-a-fork-in-it over. A lot could happen, after all, in the 29 days before Nov. 4.

And that leads to something else that a lot of political reporters — and a lot of political op...

Fed to Fund Short-Term Business Loans

WASHINGTON —  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 U.S. economy.

The Federal Reserve 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. That has made it increas...

BREAKING: Dow falls below 10,000

Blue-chip average under milestone for the 1st time in nearly 4 years as fears about financial crisis grow.

NEW YORK  (CNNMoney.com) -- Stocks tumbled Monday, with the Dow Jones industrial average falling below 10,000 for the first time in nearly four years, as European governments' rush to prop up failing financial firms underscored the global reach of the credit crunch.

Credit markets remained tight, with two key measures of bank jitters hitting an all-time high. Treasurys rallied, lowering the corresponding yields as investors sought safety in...