Too late to rescue U.S. economy? - Of all Pres. Candidates Only Hillary Clinton seems to have a plan - by David Olive
he economic rescue brigade finally arrived in something like full force last week, about a year after experts dismissed warnings of a U.S. economic downturn with global consequences, and five months after world credit markets were thrown into turmoil by the collapse of the U.S. housing boom. Hillary Clinton, more attentive to grassroots economic anxiety than most of her presidential rivals, in a year when 1.8 million U.S. "subprime" mortgages will "reset" at much higher monthly payments than the teaser rates that inflated the housing bubble starting in 2003, last week presented her own rescue package. It's skewed to low-income and middle-class Americans, and provides more genuine assistance to hundreds of thousands of people faced with foreclosure on their homes, in contrast with the minimalist distressed-homeowner bailout proposed by Bush late last year. But Clinton's initiative won't become reality until some months after she takes the presidential oath of office, should it come to that, which takes us into the spring of 2009.
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