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Obama vows to curb outsourcing

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Agencies

Posted: Oct 27, 2008 at 0909 hrs IST

Washington, October 27: Sitting politically 'pretty' with only a week to go for Presidential polls, the Democratic nominee Barack Obama has kept hammering away with his theme of creating jobs and curbing outsourcing and blamed the Republicans for the mess America finds itself in.

Back on the campaign trail after a short break in Hawaii to see his ailing maternal grand mother, Senator Obama was in the "Red" state of Colorado pushing his economic plans.

Holding the Bush administration and by extension his Republican rival John McCain for the current economic recess, Obama said, "It's time to turn the page on eight years of economic policies that put Wall Street before Main Street but ended up hurting both."

"We need policies that grow our economy from the bottom-up, so that every American, everywhere, has the chance to get ahead -- not just the person who owns the factory, but the men and women who work on its floor; not just the CEO, but the secretary and the janitor," he said in Denver.

The Illinois Senator said, "If we've learnt anything from this economic crisis, it's that we're all connected; we're all in this together; and we will rise or fall as one nation as one people. The rescue plan that passed the Congress was a necessary first step to easing this credit crisis, but if we're going to rebuild this economy from the bottom up, we need an immediate rescue plan for the middle-class, and that's what I will do as President of the United States" he added.

Keeping his rhetoric on outsourcing alive, Obama said, "I've proposed a new American jobs tax credit for each new employee that companies hire here in the United States over the next two years. I'll stop giving tax breaks to companies that ship jobs overseas and invest in companies that create good jobs right here in Colorado."

Obama said, "I won't let banks and lenders off the hook when it was their greed and irresponsibility that got us into this mess. We should not be bailing out Wall Street; we should be restoring opportunity on Main Street."

"...For the last eight years, we have tried it John McCain's way. We have tried it George Bush's way. We've given more and more to those with the most and hoped that prosperity would trickle down to everyone else. And guess what? It didn't. So it's time to try something new. It's time to grow this economy by investing in the middle class again.

"If I am President, I will invest USD 15 billion a year in renewable sources of energy to create five million new, green jobs over the next decade -- jobs that pay well and can't be outsourced; jobs building solar panels and wind turbines and fuel-efficient cars; jobs that will help us end our dependence on oil from Middle East dictators," he added.

Even the lowest of estimates in the Electoral College vote in the various scenarios have shown Obama winning 270 votes that are needed quite easily and projections for the

Democratic nominee have even gone in the upwards of 360 which will point to a landslide that has not been witnessed for quite sometime now.

The clear edge to the Democrat candidate at the Presidential level will be impacting the races for the United States Congress as well and the Democrats are looking to "unleash a bloodbath in the House of Representatives and the Senate."

In the House, the Democrats are expected to be picking up between 25 to 30 seats from the current strength of 235; and in the Senate the party is looking at a Cloture proof majority of 60 seats or up by 11 from the current position.

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obama by kiki musampa on 05 Nov 2008

Be indian.buy Indian.

Obama's Plans for Jobs by cruisemates on 03 Nov 2008

Obama says he has a plan to keep jobs in America, The Patriot Employer Act. It gives comanies a 1% tax credit on income if they meet 6 conditions, all of which would cost more than the 1% gain. Most economists hate, other say "well, its harmless because it is voluntary" No corporation has embraced it. Its a pig in lipstick.Capital Gains:current: 15%McCain: 7.5%Obama: 20% or more (he has said as much as 35%)Corporate Taxes:current: 35%McCain: 25%Obama: 35%-60% (with state

Outsourcing by Sunil Sinha on 28 Oct 2008

How would you feel if all the top Indian companies outsource their jobs to Nepal, Pakistan, Sri Lanka and bangladesh for cost cutting. This how people feel in USA.

Logic Anyone?? by Betaalus on 28 Oct 2008

Not sure how Obama talking points lead to the conclusion "Obama vows to curb outsourcing"! He is talking about taking away the tax-breaks is that companies enjoy currently for doing business in the US but choosing to substitute US labor with foreign labor. This is a simple economic instrument to compensate for the breaks that US tax payers and labor has so far been extending to these companies, which they should not have to. The outsourcing will not end. it will only increase. the tax-breaks will end. The foreign countries can compensate these companies instead. Makes sense? Might be too much for the geniuses in the business of sensationalism and yellow journalism

Outsourcing by brewd07 on 27 Oct 2008

Curbing is a relative term. Can he say he will reduce it 10%, 50% or 100%? No becuase he knows outsourcing is essential for USA whether one likes it or not. 2% reduction is also curbing!!

outsourcing by RB on 27 Oct 2008

This is one of many flaws of globalization. Obama is trying to correct some of the flaws. It will not only help the US, but also countries like India. Such policies will bring the US economy back on track. On the other hand, it will bring back (may be force back) self reliance in Indian economy as well.

OBAMA, best friend of India by sbala on 27 Oct 2008

OBAMA will be the best president in US for India. His plan, while increasing jobs in USA, will make India more competitive and open the entire EU to us. May be it is time for Indian companies to use their money to buy out US companies.

This is the real thing by Anon on 27 Oct 2008

No this is the only way out for the US. They have to start working again - cant just expect other people to do the work...For India, it will mean we need to have an integrated economy within the country also - cant just expect to export our way to prosperity.

It is a political stunt by Bashishth Narayan Verma on 27 Oct 2008

It is a mere political gambit thrown by Obama to grab the vote of jobless Americans. Curb on outsourcung will not only affect subcontinet but US economy as well.

OBAMA by Srini on 28 Oct 2008

Obama will not try to be friends with India but he may turn out to be better for India than Bush. It is time that indians work for Indians. Dont depend on Exports.

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