A Voter's Guide to the Economy

As incomes stagnate, energy costs escalate, mortgages reset and lending tightens, voters say they are getting more worried about the economy spiraling — taking their standard of living along with it. To reverse those trends, the next President will have to come up with creative solutions to five big economic challenges: spending, taxes, trade, health care and energy. Here's how the candidates would take on those issues.

Senator Barack Obama

Democratic presidential candidate Sen. Barack Obama listens to Senator Ted Kennedy at a rally at American University in Washington, DC.

Brooks Kraft / Corbis for TIME
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Our economy is strongest when... opportunity is spread as widely as possible.

He favors a behavioral-economics approach, using incentives and simple policies to help Americans make smarter choices

SPENDING: The federal debt has grown 50% under Bush. How would the candidates balance the budget?

He calls for pay-as-you-go budgeting: tax adjustments or new expenses must be paid for with program cuts or more revenue.

TAXES: Should Bush's tax cuts for families making more than $250,000 be eliminated?

Would eliminate Bush's tax cuts and raise capital gains tax rate to up to 38% from 15%. Seeks middle-class tax relief of $80 billion a year.

TRADE: Free trade leads to growth, but there are costs too. Should there be limits.

Says he supports trade but adds that any free-trade deal must take into account labor and environmental standards.

HEALTH CARE: What would the candidates do about soaring costs and the 47 million uninsured?

He would insure all children, with the goal of universal coverage. His plan makes insurance affordable rather than mandating it.

ENERGY: All agree that energy independence is a worthy goal. How will the candidates get there?

Would use some revenue from a cap-and-trade auction to invest in clean energy; favors raising fuel-efficiency standards for cars.

View the full list for "A Voter's Guide to the Economy"