The latest economic news is bad. Just consider. The nationwide average cost of gas is four dollars a gallon. On June 6, the stock market fell 400 points. Unemployment jumped to 5.5%.

It seems like years ago that the American public had a lengthy menu of possible candidates from which to select a presidential nominee. Now, the list of choices at this banquet table of political possibilities has been trimmed, but the fi nal order is still incomplete.

Further, the auto industry is in a tailspin, the airlines are grounding themselves and the housing debacle continues to produce few houses but plenty of foreclosures.

Meanwhile, back in the race for the presidency Sen. John McCain is pledging to continue the policies of George Bush. His proposed program of tax cuts benefi ts the rich. McCain’s small government approaches to major problems in the fi nancial world will produce little improvement.

Sen. McCain, the presumptive Republican nominee, presumptuously tried to steal Sen. Barack Obama’s campaign slogan. His lame attempt to co-opt “change you can believe in” was lambasted by Republicans and Democrats alike.

However, we should not seek solace from McCain’s poor performance on the stump or his lackluster ideas. It is not enough to deride a candidate whose weaknesses are ever more evident. After all, McCain has himself identifi ed “economics” as an area of his ignorance.

We look to Sen. Obama, the soon-to-be-annointed Democratic candidate to energize the electorate. He has begun to do so. Importantly, he calls for economic programs to strengthen America.

Obama has expressed an interest in taxing the oil companies that are feasting on high prices at the pump. He looks forward to raising the taxes of the richest Americans and giving a $1,000 tax cut to the rest. He intends to wind down the Iraq war and use the money saved on domestic needs.

Obama has called for greater federal action on renewable energy and on building a green economy. These approaches to a national crisis would in the long run strengthen the economy. They would both cut costs and create new jobs in new industries.

The Democratic candidate wants to protect consumers. Obama will propose legislation to protect homeowners, create a universal mortgage credit and penalize mortgage industry fraud and abusive lending practices. He has proposed ways to end predatory credit card practices.

Notably, Obama introduced the Patriot Employees Act of 2007 to provide a tax credit to companies that maintain or increase the number of full-time workers in America relative to those outside the country. The measure calls for other workerpositive corporate behavior. This is a change we can stand behind.

On healthcare, education, Social Security and many other key issues, Obama’s positions are supported by the Labor Movement. The opposition would move the clock back, way back beyond what George Bush has done.

We cannot fail to get our economic house in order. The 2008 election gives us an opportunity to make that happen.

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