Wednesday, July 30, 2008

Obama 'would drag US into depression'

Excerpt from "Obama 'would drag US into depression'"
http://www.news.com.au/story/0,10117,24094330-401,00.html?from=public_rss

Carly Fiorina, a key lieutenant to Senator McCain and former boss of computing giant Hewlett-Packard, said a recession triggered by the 1929 Wall Street crash became a depression through the imposition of higher taxes and trade barriers.

"The reality is when an economy is slowing, if you raise taxes and you curtail free trade through isolationist policies, bad economic times become worse," she said.

"We know this from history... and that is precisely the proposal that Barack Obama is making," Ms Fiorina said.

"And that is why I say as a businesswoman, I hope Barack Obama continues to consult with experts because I think his understanding of the economy leaves a great deal to be desired."

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