January 11th, 2008
03:11 PM ET
7 years ago

Clinton lays out economic stimulus plan

(CNN) - The economy, and more specifically, the sub-prime lending crisis, is fast becoming a central theme in Democrat Hillary Clinton’s message. On Friday, she called for an economic stimulus package that would help low-income families keep their homes and stay warm this winter – and could come with a $110 billion price tag.

Clinton has said she fears a recession, although her campaign has avoided describing the economy’s current state in that language.

On Thursday evening, the New York senator canvassed a primarily Latino neighborhood in Central Las Vegas and periodically surveyed voters about the impact of housing foreclosures. She held a roundtable at a local restaurant with people who had lost their homes.

Clinton and her daughter Chelsea visited Gilberto Santana, who is out of work and having to borrow money from friends to help pay his bills, including his mortgage. Santana, a Clinton supporter, is also a member of the Las Vegas culinary union, a group that endorsed Senator Barack Obama earlier this week.

On Friday, the presidential hopeful said Congress should work with the White House to pass a $70 billion economic boost, and to follow that with as much as $40 billion in tax refunds.

The bill proposed Friday would provide $10 billion to extend unemployment insurance, create a $30 billion fund to help states and local governments deal with the housing crisis, provide $25 billion in emergency energy, and set a 90-day moratorium on sub-prime mortgages of at least five years, among other elements of the plan.

With Nevada’s foreclosure rates among the highest in the nation, Clinton hopes her economic focus will play well among the state’s working and middle class. The loss of the culinary endorsement and the myriad of hurdles campaigns face in educating Nevada’s voters about next week’s caucuses could prove problematic for Clinton.

“I’m very committed to reaching out and meeting the people in this state and the leaders that I have here in my campaign are very confident that we’ll do very well,” she told reporters. “It takes a lot of hard work, it takes a lot of outreach and shoe leather and phone calling but that’s what we’re doing and we’re prepared to just you know pull out all the stops to be as successful as possible,” she said. Some of Clinton’s Iowa field staff has relocated to Nevada.

Clinton beat Obama in New Hampshire among middle- to lower- income voters, some of which may have not been able to turn out in Iowa because the caucuses were held at night. Nevada’s caucuses will be held on a Saturday morning, but Clinton says problems with the caucus system persist.

“When I realized you only had a limited period of time on one day to have your voices heard that is troubling to me. And in the situation of a caucus people who work during that time, they're disenfranchised,” she said. “We're going to do everything we can between now and January 19 to reach as many people as possible, but there will be a lot of people who even if they want to come, can't, so I think it's a problem.”

Both Clinton and Obama plan to visit Nevada several times between now and next Saturday’s contest and both candidates are about equally invested in television advertising.

“I need to get a very clear message as to what I have done and what I will do,” Clinton said in response to a question about what she learned from her New Hampshire primary win. “There’s a big difference between talking and doing and rhetoric and reality and I’m going to be sure that the people here in Nevada and across the country as we move up on all these contests know that I’m not just telling them what I will do and asking them to take it on faith, I’ve done it.”

Clinton’s economic speech Friday in Los Angles garnered quite a bit of free media attention, a crucial part of any campaign’s Golden State strategy. While California has always been friendly to the Clintons, an unaffiliated Democratic strategist said what will make the difference for either Clinton or Obama in the February 5 primary here will be wins in Nevada, South Carolina and Florida.

- CNN Senior Political Producer Sasha Johnson


Filed under: Hillary Clinton
soundoff (80 Responses)
  1. Patty D.

    As always, Hillary tops everyone else. While the rest of the candidates are stumbling over what to do about the economy she has a detailed plan. Whether it will satisfy anyone is another matter. She is a true seasoned politican. I don't know if thats good or not.

    January 11, 2008 06:22 pm at 6:22 pm |
  2. Cat, Costa Mesa, CA

    I feel conflicted about this sub-prime mortgage bail-out program. On the one hand, I feel bad for these people who are already unemployed or underpayed and could potentially be homeless. You already have enough to deal with being unemployed, losing your house would just make it so much worse. But at the same time, I don't really agree with the gov't using my hard earned money to bail out someone who was too stupid to think they could afford their mortgage. Now I know this problem also concerns those in the "predatory lending" category, but these homeowners should have known better. If they couldn't afford a regular mortgage, what makes them think a subprime would be better. OHHHH, the 0% APR and no down payment thing!!! They should have known it would come back and bite them in the @$$.

    January 11, 2008 06:33 pm at 6:33 pm |
  3. Question...

    When is she planning to put this "stimulus" package into motion?

    After she's elected? Won't that be a bit too late? Just wondering.

    January 11, 2008 06:53 pm at 6:53 pm |
  4. s.positive

    How is this plan going to be paid for? It may now be used to say HIGHER TAXES...

    January 11, 2008 06:59 pm at 6:59 pm |
  5. Clinton best choice for our future

    OUTSTANDING!!! and as usual NOTHING from Obama except more empty preaching, preaching, preaching!!!!

    Ok, maybe I am a little cynical, but the reality is that not one media outlet called for Hillary to win in New Hamshire. I find that odd. Who were these people talking too? My guess, to themselves. It shakes things up, sells papers, and gets lots of hits on stories if you publish the negative.

    Maybe the media is in the hands of their slick tongue Obama, because it seems they have failed to state the obvious. The man has no experience in leadership. He is an excellent orator, but that means little when North Korea and Iran play mind games with the U.S.

    It would appear that the media got egg on its face.

    1. Did the pollsters actually call people who were not only registered, but voting? That makes a difference. Their reporting seems to prove that they did not not.

    2. Why all the "Obama love" all of a sudden? Sure he mobilized his team in Iowa, but took it for granted after the win. Brings that nasty head of the DNC to mind, Howard Dean. He assumed since he had the "momentum" that he was going to coast, and America had to watch him have a meltdown.

    3. Obama is offering a fairy tale. If you think on Jan 21, 2009 that he is just going to walk in there and order the troops home, you are sadly in need of a reality check. We did the damage.

    4. Obama kept downplaying his race until he won Iowa. Now it is the constant, "We made history" thing and anyone with a 6th grade education knows what he is talking about. Well, here is a clue, Hillary made History too. So, in the end the two cancel each other out on the history thing.

    5. Why the rush for Obama to the White House? He has not been a force on the hill or anywhere to have a record that says something other than "vote for me for change."

    It seems clear that the media has, as usual, tried to help their choice by giving false impressions to discourage other voters from coming out. That is the bottom line. Fortunately it did not work.

    January 11, 2008 07:09 pm at 7:09 pm |
  6. agron--michigan

    Yes...we need President with plan and not only change-change-hop [oprah] copyyyy

    Go Hillary08

    agron mi...

    January 11, 2008 07:17 pm at 7:17 pm |
  7. Donald, Butte, MT

    Ok Hillary, where are you going to get the $70 billion to pay for this? Continue to raise the debt ceiling and borrow it from China who already has $1.75 trillion in cash reserves laying around to buy this country lock, stock, and barrel????

    January 11, 2008 07:18 pm at 7:18 pm |
  8. DB

    Where would this money come from?

    January 11, 2008 07:26 pm at 7:26 pm |
  9. Ben, Boston, MA

    How are you going to pay for this, Hillary?

    January 11, 2008 07:29 pm at 7:29 pm |
  10. charlotte

    THE MIDDLE-CLASS, THE BACKBONE OF THIS COUNTRY, ARE STRUGGLING TO MAKE ENDS MEET. WITHOUT US, THERE IS NO MONEY FOR ANYTHING ELSE. IF WE CAN'T PAY THE WAY, WHO WILL? THE RICH DON'T PAY TAXES THE SAME WAY WE DO. THE POOR, WELL THEY DON'T PAY ANY. WE GIVE CLOSE TO 30% OF OUR WAGES TO SUPPORT THIS GOVERNMENT. IF THE RICH PAID 30% WE WOULD BE A LOT BETTER OFF. THE AMERICIAN DREAM TO OWN A HOME IS FADING FAST. ZERO INTEREST LOANS, NO MONEY DOWN, WHAT A SCAM. PEOPLE WILL HAVE THEIR DREAMS TAKEN AWAY BY CORRUPT LEANDERS.

    January 11, 2008 07:33 pm at 7:33 pm |
  11. Jimmy

    Senator Clinton for President of the United States.
    She is the one,
    "THAT CAN GET IT DONE"

    January 11, 2008 07:35 pm at 7:35 pm |
  12. Jared

    It takes an experienced candidate to come up with plans for solutions, we don't need another idiot in office who only listens to his advisors (not to mention any names but ahh ahh Bush and Obama 🙂

    January 11, 2008 08:04 pm at 8:04 pm |
  13. Wilhemina

    WHAT HAS SHE DONE??? SHE HAS NEVER BEEN A JANE GOODALL, OPRAH, AND MANY MORE GREAT HUMANTARIANS. HILLARY GETS PAID !!! WHAT IS HER VOTING RECORD URING THE EXPERIENCED YEARS SHE HAS BEEN IN WASHINGTON??? WHAT IS HER PLAN??? SHE DOES NOT HAVE A PLAN, SHE IS WAITING FOR SOMEONE TO WRITE IT, IF IT IS POPULAR SHE WILL BE PEDDLING IT, IF IT FAILS SHE CAN NOT BE HELD ACCOUNTABLE. HOW ARE WE GOING TO PAY OFF A 110 BILLION DOLLAR DEBT, AND THE WAR IN IRAQ, AFGANISTAN, OUR TROOPS, OUR MILITARY BASES???.

    January 11, 2008 08:13 pm at 8:13 pm |
  14. WL from Florida

    Dear Ms. Sasha Johnson:

    Thank you for writing an article about a real issue. It has been very rare in the past one year to find reports or articles truly addressing the important issues. Most of them about daily horse race or twisted facts. Voters are more and more frustrated with biases and sexism showed in national media. We want to know about issues that are important to our country.

    Thank you again for your insight and truthful report.

    –WL from Florida

    January 11, 2008 08:13 pm at 8:13 pm |
  15. aware

    It is good Patty D. You have to have a plan and go with it. You can't just say, "We will overcome." This isn't a game or a likability contest. It is about real people and real needs.

    January 11, 2008 08:21 pm at 8:21 pm |
  16. Wilhemina

    "BLUEPRINT FOR CHANGE", OBAMA'S PLAN FOR AMERICA. IT IS A FREE DOWNLOADABLE BOOKLET COVERING ALL ISSUES ON HIS WEBSITE. CHECK IT OUT, KNOWLEDGE IS POWER!

    January 11, 2008 08:22 pm at 8:22 pm |
  17. aware

    It is good Patty D. You have to have a plan and go with it. You can't just say, "We will overcome." This isn't a game or a likability contest. It is about real people and real needs.

    January 11, 2008 08:22 pm at 8:22 pm |
  18. Caleb

    Other issues aside, it's impressive to hear a candidate talking about the disenfranchisement that occurs with the caucus system. This has been an elephant in the room for decades, so it's refreshing to know that there is hope for the system to change.

    January 11, 2008 08:24 pm at 8:24 pm |
  19. Brian, Orlando, Florida

    Anyone remember when the White house did not have a Bush or Clinton in it? When did we become the Kingdom of the United States?

    January 11, 2008 08:33 pm at 8:33 pm |
  20. Zack M.

    How are you going to pay for it??

    January 11, 2008 09:02 pm at 9:02 pm |
  21. Roy, Gaithersburg, MD

    And this money to give to the states, where is it going to come from? The way I see it there are two options:
    1) Take it from the pockets of the people through higher taxes
    2) Print more money, causing further inflation and weakening of the dollar, causing an 'invisible tax' on the people

    Thanks Hillary, but no thanks!

    January 11, 2008 09:12 pm at 9:12 pm |
  22. Jack, Greenville, SC

    She admits that she has no idea if it is possible to pay for it. It is just rhetoric. You can promise anything if you tell people you don't know that you can deliver on it and that is your out.

    January 11, 2008 09:42 pm at 9:42 pm |
  23. mike

    hillary's message:
    socialism for health care
    reward sub primers (economic "moral hazard" anyone?)
    tax and spend $110 bil, or just run a deficit and tax through inflation and spend $110 bil

    hey wait, isn't one of the republicans running for president... an actual economist? maybe he has some good ideas hmm.

    January 11, 2008 09:50 pm at 9:50 pm |
  24. Marko Dezdri, Portland, OR

    Hillary is by far the most qualified person ever to run for president! If you don't believe me, make the research for yourself!

    January 11, 2008 10:19 pm at 10:19 pm |
  25. s.positive

    I bet this plan will change as soon as it becomes unpopular... HIGH TAXES...

    January 11, 2008 10:25 pm at 10:25 pm |
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