CLOSE-UP: BARACK OBAMA CLOSE-UP: BARACK OBAMA In-depth: Latest Obama news, video, photos, timeline, more ... Barack Obama on the campaign issues: Iraq | Immigration | Health care | Education | Abortion | Gay civil rights THE RACE FOR DELEGATES THE RACE FOR DELEGATES USA TODAY's interactive delegate tracker shows where the presidential candidates stand as they seek their party's nomination. CAMPAIGN ISSUES: 2008 CAMPAIGN ISSUES: 2008 Click on the titles to learn more about where the presidential candidates stand on the issues:



WAR IN IRAQ

The war in Iraq is the dominant issue in the 2008 race for the White House. The early primary votes will be cast as the conflict completes its fifth year. The next president will be the first to take the oath of office during an ongoing war since Richard Nixon in 1969.



IMMIGRATION

Immigration is a highly divisive issue, as concerns about terrorism amplify the debate about border security. Congress has failed to enact immigration legislation because of differences between supporters of tougher enforcement to limit illegal entry into the country and advocates of amnesty for illegal immigrants.



HEALTH CARE

Polls indicate that health care is one of the most important issues to voters heading into the 2008 presidential elections. The rising cost of health insurance and the growing number of uninsured give the issue added urgency. Several candidates have called for universal health care; others have said these plans amount to socialized medicine.



EDUCATION

White House hopefuls are divided on the federal government's role in education as Congress considers changes to President Bush's signature schools law, the No Child Left Behind Act, and how to make college affordable.



ABORTION

In 1973, the U.S. Supreme Court legalized abortion in the landmark case Roe v. Wade and the ruling has been the subject of heated political debate ever since. Presidential candidates over the years have weighed in on a variety of abortion-related topics.



GAY CIVIL RIGHTS

The issue of civil rights for gay men and lesbians -- including the definition of marriage, service in the military and protection against hate crimes -- has long divided the two major political parties. It's not as simple as saying Democrats are for them, and Republicans are against them. Obama: Fix market regulation In what his campaign billed as a major speech on the economy, Sen. Barack Obama called Thursday for an overhaul of government regulation of the financial markets and an additional $30 billion in economic stimulus spending. "The American economy does not stand still, and neither should the rules that govern it," Obama said in a speech in New York. "Old institutions cannot adequately oversee new practices. Old rules may not fit the roads where our economy is leading." OBAMA'S WORDS: Read the full speech (pdf file) POLITICS BLOG: Obama says both parties share blame The Democratic presidential candidate said rapidly changing financial markets, coupled with increased government deregulation, have led to a cycle of economic bubbles and sudden declines that endanger Americans and threaten businesses. "Our free market was never meant to be a free license to take whatever you can get, however you can get it. That is why we have put in place rules of the road to make competition fair and open and honest," he said. "We have done this not to stifle, but rather to advance, prosperity and liberty." Among other proposals in the speech, Obama called for: • Giving the Federal Reserve system more oversight authority over institutions to which it provides credit as a "lender of last resort." Although Obama did not outline specifics, saying those would depend on the level of the Fed's assistance, "but at the very least, these new regulations should include liquidity and capital requirements." • Strengthening capital, liquidity and financial disclosure regulations for financial institutions. "Transparency requirements must demand full disclosure by financial institutions to shareholders and counterparties," Obama said. • Creating a financial oversight panel that could monitor and report to the president about such rapid financial developments as the growth of bond-backed subprime mortgages. • Providing an additional $30 billion in economic stimulus spending, including $10 billion in a foreclosure prevention fund for homeowners. Obama said the fund was designed to help homeowners "sell a home that is beyond their means, or modify their loan to avoid foreclosure or bankruptcy." He also called for overhauling bankruptcy laws, "so families aren't forced to stick to the terms of a home loan that was predatory or unfair." • Strengthening investigations into trading activity that appears to involve market manipulation. "Reports have circulated in recent days that some traders may have intentionally spread rumors that (investment banker) Bear Stearns was in financial distress while making market bets against the company. The SEC should investigate and punish this kind of market manipulation and report its conclusions to Congress," Obama said. • Creating a 10% mortgage interest tax credit for homeowners who do not itemize their taxes, cutting income taxes by up to $1,000 a year for "working families" and eliminating income taxes for retirees making less than $50,000 per year. DEM RIVAL: Clinton camp responds to speech Obama strongly criticized President Bush and GOP presidential candidate John McCain for their actions in the recent economic downturn, saying the Bush administration's policies "threw the economy further out of balance" and saying McCain's recent housing proposal "amounts to little more than watching this crisis happen." Even before Obama finished his speech, McCain said in a statement, "There is a tendency for liberals to seek big government programs that sock it to American taxpayers while failing to solve the very real problems we face." "Our history should give us confidence that we don't have to choose between an oppressive, government-run economy and a chaotic and unforgiving capitalism. It tells us we can emerge from great economic upheavals stronger, not weaker," Obama said. "But we can do so only if we restore confidence in our markets, only if we rebuild trust between investors and lenders and only if we renew that common interest between Wall Street and Main Street that is the key to our success." Obama's chief rival for the Democratic nomination, Sen. Hillary Rodham Clinton, made an economic address of her own earlier this week and addressed the subject again later Thursday in a campaign appearance in Raliegh, N.C. Her campaign was critical of Obama's remarks, claiming in a statement that hehad "announced a series of broad, vague principles, while offering no new concrete solutions to provide Americans with greater confidence in the market or keep them in their homes." Obama's speech came amid more economic bad news. Corporate profits fell 3.3% in the fourth quarter of 2007, the Commerce Department said Thursday — far more than the 0.1% drop expected by Wall Street analysts. The report also said U.S. economic growth slowed to an 0.6% annual pace in the quarter. Contributing: Wire reports; Randy Lilleston in McLean, Va. Enlarge By Richard Drew, AP New York Mayor Michael Bloomberg, left, introduced Obama before his speech Thursday. Obama in economy speech Thursday at Cooper Union for the Advancement of Science and Art in New York: "The American economy does not stand still, and neither should the rules that govern it."



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