Election 2008 Candidates
John Edwards
PRESS DIGEST - Wall Street Journal - May 15
May 15 (Reuters) - The following were the top stories in The Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy. Full Article
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Factbox: John Edwards
Born in 1953 in South Carolina into a mill worker's family, Edwards was the first member of his family to go to college. He graduated from North Carolina State University and earned a law degree from the University of North Carolina.
Edwards and wife Elizabeth met while they were law students and married in 1977. Their first child, Wade, was killed in a 1996 car accident; they have three surviving children.
Edwards was elected senator from North Carolina in 1998 and served one term. He was criticized during his 2004 presidential run for his lack of political experience, especially foreign policy experience. He has since traveled the world.
As a personal injury lawyer, Edwards specialized in corporate negligence and medical malpractice cases. He built a fortune of between $12 million and $60 million, according to financial filings from the 2004 presidential campaign. A North Carolina legal journal said he won about $152 million in 63 suits in the two decades before he was elected to the Senate.
His empathy for clients in taking on big corporations won Edwards a reputation as a defender of the poor and working class -- an image he burnished on the campaign trail.
Democratic presidential nominee John Kerry, in announcing the choice of Edwards as his presidential running mate in 2004, praised him as "a man whose life has prepared him for leadership and whose character brings him to exercise it," despite having questioned Edwards' qualifications when they were rivals for the nomination.
Considered one of the most telegenic Democratic politicians, Edwards announced his 2004 run for the presidency on the late-night television news spoof "The Daily Show." People magazine once named the boyish-looking Edwards the sexiest politician in America.
Compare the Issues
Because
of the debt that this government, under this president, has exploded,
we are now dependent upon China, and how do you get tough on your
banker?
- Speech before the Democratic National Committee, February
2, 2007
Where she stands:
In favor of lowering U.S. debt held by China.
For adopting tougher standards for goods imported
In favor of addressing currency manipulation
China
is a competitor, but they don't have to be an enemy as long as we
understand that they are going to be negotiating aggressively for
their advantage.
Where he stands:
Urges enforcing trade agreements.
For reducing the amount of U.S. debt held by Beijing.
Threatens to take China "to the mat" if it is manipulating the
value of its currency.
China
is a reality. The question is not whether they are going to emerge
on the world stage, the question is how.
Where he stands:
Warns that the rise of China and Russia warrants a larger, more
capable military.
Calls China's growing economic clout "a concern", does not address
how to handle.
We
need to do more to investigate, as John says, and we might even
have to look at the strategic petroleum reserve, which the Bush
administration has been filling up beyond any expectation of need
for the short term, at least. But we also have to have a serious
move toward energy efficiency and conservation.
Where she stands on...
Climate Change
Cut U.S. greenhouse gas emissions to 80 percent below 1990 levels by 2050 through cap-and-trade system; require all publicly traded U.S. companies to file report on climate change risks with the Securities and Exchange Commission.
Vehicle Fuel Economy
Boost corporate average fuel economy standards, or CAFE, to 55 miles per gallon by 2030, offer $20 billion in "green vehicle bonds" to help U.S. automakers meet standards, invest in plug-in hybrid technology.
Biofuels
60 billion gallons of biofuels available for trucks and cars by 2030.
Oil Use
Cut foreign oil imports by two-thirds from 2030 projected levels, more than 10 million barrels per day.
Electricity
Wants to require U.S. utilities to get 25 percent of their electricity from renewable sources like wind and solar by 2025.
As
Joe pointed out, out of the $90 that it's costing right now for
a barrel, about 30 percent of that is just risk. It's not dictated
by supply and demand. If we can lower the rhetoric, with respect
to military action in the Middle East, that will have an immediate
impact.
Where he stands on...
Climate Change
Cut carbon dioxide (CO2) emissions to 80 percent below 1990 levels by 2050; reduce emissions to 1990 levels by 2020; require fuel suppliers to cut carbon content by 10 percent by 2020.
Vehicle Fuel Economy
Double fuel economy standards in 18 years, give automakers tax credits to retool plants and invest in advanced lightweight materials and new engines.
Biofuels
Boost renewable fuel standard to at least 60 billion gallons of advanced biofuels like cellulosic ethanol by 2030; build out ethanol distribution infrastructure; mandate that all new vehicles be "flexfuel" by the end of 2012; produce 2 billion gallons of "cellulosic" ethanol from non-corn sources like switchgrass by 2013.
Oil Use
Reduce overall oil consumption by at least 35 percent, or 10 million barrels per day, by 2030 to offset imports from OPEC nations.
Electricity
Backs 25 percent renewable requirement by 2025.
We have in use today a zero emission energy that could provide electricity for millions more homes and businesses than it currently does. Yet it has been over twenty-five years since a nuclear power plant has been constructed.
Where he stands on...
Climate Change
Favors cap-and-trade CO2 approach; sponsored legislation in 2007 to cut emissions by 30 percent by 2050.
Vehicle Fuel Economy
Has not specified CAFE targets. Voted against energy amendments in 2003 that would have boosted CAFE to 40 mpg by 2015.
Biofuels
Favors ethanol incentives after opposing them in the past. Generally opposes subsidies and tariffs that distort marketplace.
Oil Use
No specified targets. Has said he will unveil "a national energy strategy that will amount to a declaration of independence from the fear bred by our reliance on oil sheiks."
Electricity
Opposed 2005 proposal for 10 percent requirement, emphasizes market choice.
It is time for us to come together and start living up to our values, to provide quality affordable health care for every single American.
Where she stands:
Her health care plan, estimated to cost about $110 billion per year, would require all Americans to get health insurance. Under a public-private partnership, they would keep existing coverage or choose from private insurance options members of Congress receive. Individuals may also choose a public plan similar to Medicare. Plan creates new federal subsidies for those who can't afford coverage and imposes new mandates on large employers to provide health insurance or help pay for it. Small business will receive tax breaks to provide health coverage. Plan forces insurance companies to give coverage to everyone, ending discrimination based on pre-existing conditions. Drug companies would also be required to offer fair prices.
It's time to let the drug and insurance industries know that while they'll get a seat at the table, they don't get to buy every chair.
Where he stands:
His plan provides health coverage for almost all Americans. Creates national public insurance program to allow individuals and small businesses to buy affordable health care similar to that available to federal employees. No one will be turned way or charged more due to illness and everyone who needs it will receive a subsidy for their premiums. Requires all employers to contribute toward health coverage for their employees or toward the cost of the public plan. Creates a national health insurance exchange to reform the private insurance market. Mandates that all children have health care coverage.
Bringing costs under control is the only way to stop the erosion of affordable health insurance, save Medicare and Medicaid, protect private health benefits for retirees, and allow our companies to effectively compete around the world.
Where he stands:
Besides offering a refundable $2,500 tax credit, $5,000 for families, his plan would promote open health care markets by letting providers practice nationwide, rather than restricting them regionally, allowing families to purchase health insurance across state lines and through any willing sponsor.
I'm
in favor of ... getting 12 million or so immigrants out
of the shadows.
Where she stands:
Supports a guest worker program for immigrants if it does not undermine U.S. workers' wages and favors giving undocumented workers a way to become legal workers. Backed building border wall. Urges development of an employer verification system and higher penalties for employers who exploit illegal immigrants.
A president not only has to speak out forcefully against anti-immigrant sentiment ... but make sure all workers are taken care of.
Where he stands:
Backs additional personnel, infrastructure and technology to safeguard U.S. borders and ports. Urges reducing application fees and improving speed and accuracy of FBI background checks for immigrants. Supports a program in which illegal immigrants pay fines, learn English, not violate the law and go to the end of the line to become citizens. Backs creating a program for employers to verify an applicant's immigration status.
Americans want the borders secured first and that's what they're going to get from me as president.
Where he stands:
Initially supported temporary guest worker program that failed to advance in US Senate. Shifted his position to emphasize border security first.
"We've had an administration that doesn't believe in diplomacy. You know, they have every so often Condi Rice go around the world and show up some where and make a speech, and occasionally they even send Dick Cheney -- and that's hardly diplomatic in my view."
Where she stands:
Voted to designate Iran's Revolutionary Guard as terrorist a organization. Rules out unconditional talks with Iran but is willing to hold direct discussions under right circumstances; said the United States should be prepared to offer incentives if Tehran ends its nuclear weapons ambitions, renounces sponsorship of terrorism, supports Middle East peace and plays a constructive role in stabilizing Iraq.
Iran possessing nuclear weapons will be a major threat to us and to the region. ... If we have nuclear proliferations around the world that is a profound threat to the security of the United States.
Where he stands:
Has said he would engage in direct, personal talks with Iran which includes offering economic incentives if Tehran stopped operations in Iraq and cooperated on nuclear issues. He has refused to say if he would consider military action if Iran did not abandon its presumed nuclear weapons program. Offered a resolution in the Senate to reverse designating Iran's Revolutionary Guard as terrorist organization.
I'm not worried about Iran acquiring a nuclear weapon and putting it on a missile, I'm very worried about Iran acquiring nuclear weapons and giving it to terrorist organizations.
Where he stands:
Says he is open to using military force to prevent Iran from developing nuclear weapons but has asserted that plenty of other options were available before reaching that point. Has ruled out unconditional talks with Tehran, but instead would work with allies to apply pressure to stop Iran's actions in Iraq. Once joked about attacking Iran when asked about a possible strike, singing "Bomb, bomb, bomb, bomb, bomb Iran" which became a video sensation on the Internet.
If
we in Congress don't end this war before January 2009,
as president I will.
Where she stands:
Initially voted to authorize military action against Iraq but later said that if she knew then what she knows now, she would not have voted for it; steadfastly refused to apologize for the vote.
Has urged revoking congressional authorization for the war, capping troop levels at January 1, 2007 levels, and permitting US forces to provide training, counterterrorism activities and logistical support.
Opposes permanent bases in Iraq. If she is elected, she says upon her inauguration in January 2009 she would order the Pentagon to draw up a plan to begin bringing troops home within 60 days.
It
is long past time to turn the page in Iraq, where each
day we see the consequences of fighting a war that
should never have been authorized and should never have
been waged.
Where he stands:
Would begin immediately withdrawing from Iraq one or two brigades a month and have all troops out within 16 months; call a U.N.-led constitutional convention in Iraq that would not adjourn until reconciliation is reached; develop a regional security compact.
Would refocus energies on the al Qaeda threat in Afghanistan and Pakistan -- he has urged sending at least two more brigades to Afghanistan.
Rules out using nuclear weapons against al Qaeda or Taliban targets in Afghanistan or Pakistan, prompting charges that he was showing his inexperience. He supports strikes against al Qaeda targets in Pakistan if without cooperation from Islamabad.
I understand why so many Americans have become sick and tired of this war, given the many, many mistakes made by civilian and military leaders....I cannot react to these mistakes by embracing a course of action that I know would be an even greater mistake, a mistake of colossal and historical proportions.
Where he stands:
Backed adding troops to improve security, accelerating training and equipping Iraqi forces and police, and pushed for embedding soldiers in communities to help ensure insurgents cannot return. He called for an end to rotating commanders to avoid disrupting continuity in command. Wants pressure on Syria and Iran to stop activities in Iraq, but is against unconditional talks with Tehran and Damascus.
We have to change the tax system, and we've got to get back to having those with the most contribute to this country.
Where she stands:
Repeal Bush administration tax cuts for those making $250,000 or more annually. Make permanent tax relief for married couples that was part of Bush plan against "marriage tax." Offer college tuition tax deduction and credits for children and adoption. Has encouraged wage credits for businesses to boost job creation. Raise tax rate on "carried interest" gains made by senior partners in the private equity and hedge fund businesses.
There's no doubt that the tax system has been skewed. And the Bush tax cuts -- people didn't need them, and they weren't even asking for them, and that's why they need to be less, so that we can pay for universal health care and other initiatives.
Where he stands:
Proposed $500 per person payroll tax cut, universal mortgage tax credit of 10 percent and elimination of income taxes for seniors making less than $50,000. Close corporate tax loopholes and deductions for industries like the oil and gas businesses. Institute penalties for companies that keep their profits overseas.
Higher taxes and greater spending discourage entrepreneurship, foster wasteful tax-planning and slow long-term growth. Intelligently-formulated tax cuts and sensible tax reform will deliver much higher growth when they are accompanied by lower spending.
Where he stands:
Make permanent the tax cuts adopted during Bush administration. Have three-fifths majority in Congress required to approve tax increases. Advocates repealing Alternative Minimum Tax, creating tax credits for health, education and those with children.
We need a combination of spending, regulatory action with respect to the housing market and rebates through the tax system.
Where she stands:
Called for a second stimulus package with a $30 billion fund to put cash into the hands of local governments and nonprofit organizations to buy and resell properties to low-income people or turn them into affordable rental housing units.
Proposed an emergency working group on foreclosures to study how to establish "broad restructuring" of at-risk mortgages. Suggested the group could be headed by economic leaders like former Federal Reserve Chairmen Alan Greenspan and Paul Volcker and former Treasury Secretary Robert Rubin.
Plans to introduce legislation to provide legal protection for mortgage servicers who help struggling homeowners to modify their mortgages.
Supports expansion of Federal Housing Administration's capacity to guarantee restructured mortgages, in line with legislation proposed by Democrats Rep. Barney Frank of Massachusetts and Sen. Chris Dodd of Connecticut. Said government must be ready to be proactive in purchasing, restructuring and reselling "underwater mortgages."
Proposed a $12.5 billion funding package to provide job training for displaced workers. It would include $2 billion a year over five years to create universally available job retraining services for the unemployed and $500 million a year for on-the-job training and worker education.
It's no surprise that after months and months of watching families struggle to get by in this economy, George Bush finally offered a stimulus plan last week that neglects 50 million workers and seniors who need our help the most.
Where he stands:
Called for greater government regulation of the U.S. financial system and proposed a new $30 billion economic stimulus plan to help homeowners.
Proposed $30 billion plan includes $10 billion foreclosure prevention fund to help people keep their homes. It also includes $10 billion in relief for state and local governments hit hardest by housing crisis.
Outlined six "core principles for reform" that include: providing Federal Reserve with basic supervisory authority over any financial institution to which it might make credit available; reform of financial institutions' regulatory requirements; streamlining overlapping and competing financial regulatory agencies; regulating financial institutions for what they do; cracking down on trading activity that crosses line to market manipulation and creating process to identify systemic risks to financial institutions.
Wants to repeal a provision in bankruptcy law so ordinary families can modify terms of home mortgages.
Proposed a 10 percent mortgage tax credit for middle-class Americans.
Financial market events raise the urgency of cutting taxes and pro-growth policies in the United States. The role of the Federal Reserve is to ensure that our financial markets are well-functioning and to support economic growth. I am confident that the action taken this morning to cut two key rates will support these goals.
Where he stands:
Called for quick separate meetings of mortgage lenders and accountants to hash out solutions to housing crisis.
Said it is not duty of government to bail out and reward
"those who act irresponsibly," whether they are big banks or small borrowers.
Believes government assistance to banking system should be based solely on preventing systemic risk that would endanger the entire financial system and economy.
Said any reforms must focus on improving transparency and accountability in capital markets.
Supports making permanent the 2001 and 2003 income tax cuts and has proposed cutting the corporate tax rate to 25 percent from 35 percent and allow businesses to immediately write off capital expenses.
The results of our April poll on presidential candidates and other issues facing U.S. voters.
Full poll results
Full poll results
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Between Republican John McCain and Democrat Hillary Clinton, which candidate for President in 2008 do you believe can best manage the U.S economy?
46%
John McCain
41%
Hillary Clinton
6%
Neither
0.2%
Both
6.5%
Not sure
Between Republican John McCain and Democrat Barack Obama, which candidate for President in 2008 do you believe can best manage the U.S economy?
44%
John McCain
41%
Barack Obama
6%
Neither
0.3%
Both
8%
Not sure
Do you think now is a good time to buy a new home?
54%
Yes
42%
No
5%
Not sure
Do you believe the U.S. economy is in a recession?
71%
Yes
25%
No
4%
Not sure
