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Archive for Wednesday, February 25, 2009

Upbeat Obama: U.S. will survive economic ‘reckoning’

President Barack Obama addresses a joint session of Congress on Tuesday.

President Barack Obama addresses a joint session of Congress on Tuesday.

February 25, 2009

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Obama’s inauguration

Barack Obama will become the 44th President of the United States on January 20, 2009 — the first African-American elected to the position. Many locals will make the trip to Washington, D.C., to watch the historic event. Others will watch from here in Kansas.

— Standing before the nation on a “day of reckoning,” President Barack Obama summoned politicians and public alike Tuesday night to forge a path out of the worst economic disaster in a quarter-century by embracing shared sacrifice and costly new endeavors to improve health care, schools and the environment.

“The time to take charge of our future is here,” Obama declared in his first address to a joint session of Congress, watched by millions of worried Americans on television and the Internet.

“Tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before,” he said.

During the address, the president singled out Greensburg, Kan., as an example.

“I think about ... a town that was completely destroyed by a tornado, but is being rebuilt by its residents as a global example of how clean energy can power an entire community — how it can bring jobs and businesses to a place where piles of bricks and rubble once lay.”

Comments

Mixolydian 5 years, 5 months ago

The highlight was when Obama laughingly referenced the national debt he inherited. Immediately behind him Pelosi and Biden got big old idiot grins on their faces and leaped up furiously clapping.......one week after nearly doubling that debt in one day.

That was a parallel universe moment right there.

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Scott Tichenor 5 years, 5 months ago

Amazing that the Iraq war has never been a part of the budget. Suppose all those billions pouring into Cheney's former employer might have drawn a little more attention had that happened. Still, probably just a simple oversight on W's part.

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Godot 5 years, 5 months ago

What a difference a couple of weeks makes. Before Obama departed for his Presidents' day vacation in Chicago, Obama angrily chided Republicans for foolishly opposing his stimulus plan due to their reliance upon a failed ideology, warning that the worst financial crisis (I think he said the word "crisis" 23 times in that speech ) in over 100 years was upon us, that without the stimulus the economy would collapse down around us, that we would be in a recession, or worse, a depression, for years, without it. There was no other choice. His vision of our future was colored with dread and fear.

The stimulus passed.

Not a dollar has been spent. Most of the money will not even reach the economy until 2011, just in time to hand out goodies to certain non- taxpayers to remind them what a beneficient ruler Obama is so they will re-elect him.

Now, just 10 days later, praise be to God and Obama, all is well!!! Fed Chairman Ben Bernanke tells Congress that the economy shows signs of recovery, and that the recession will end in 2010.

Our President, after demanding the passage of the largest, most pork laden spending bill in the history of our country, tells us there is hope, but only if we sacrifice to pay for the sins of our generation so that we do not pass the bill for Obama's Trilliion dollar pork plan on to our children. Now he is going to cut spending. He is going to cut $2 Trillion dollars in spending over the next decade. He promises to cut the deficit in half by 2012. His deficit this year will be over $2 trillion. That means he expects to be running a trillion dollar deficit by the time he begins his second term.

This is while Congress is readying another $410 billion barrell of pork to tide them over until the new budget (no doubt also a pay back to the Democrats lobbyists and campaign donors), is passed.

We are living in Wonderland. Our country has gone down the rabbit hole of massive tax increases. That is the only way Obama can make up for years of trillion dollar deficits, while cutting only $2 trillion in spending.

As with most of Obama's pronouncements on the economy, the math does not prove out.

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Flap Doodle 5 years, 5 months ago

Did Barry give Burris a high-five last night?

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Chris Ogle 5 years, 5 months ago

The child sitting next to Mrs O said "we are not quitters" I hope her children, and grandchildren feel the same way.

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think_about_it 5 years, 5 months ago

He claims that the United States invented the automobile. I guess history is one of his many weak spots. At least he didn't take credit for Algore's internet.

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Music_Girl 5 years, 5 months ago

Yes our economy sucks right now. Yes it will take years to fully recover. The "stimulus plan" sounds an awful lot like a bogus "get rich quick scheme". Whatever happened to the ideals of our founding fathers anyway?

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think_about_it 5 years, 5 months ago

He opened his mouth last night and now the markets are in the tank again. Can't he go on a vacation or something?

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shotgun 5 years, 5 months ago

To all of the negative posters, your man had a great hand in creating this mess! If you are all so smart why don't you run for office and save us! Why don't you at least wait until the current administration fails to improve things before going off. Have you ever heard off the concept, "part of the solution"! It's going to take some work to clean up the Buuuuuuuuuuuuush years!

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jafs 5 years, 5 months ago

I generally agree Shotgun, but it is a bit disturbing that Obama is passing massive spending bills and planning to cut the deficit in half - how exactly will he do that?

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jafs 5 years, 5 months ago

And, for those who are fond of looking at the stock market's response to the situation, of course those who would like to make massive personal profits wouldn't like much of Obama's platform.

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Godot 5 years, 5 months ago

Wrong, jafs, the ones who stand to make massive profits from Obama's plan are the bond holders of Goldman Sachs, Citi, JP Morgan, Bank of America, AIG and more. Obama will make them whole on their bad bets, at the expense of the taxpayers and the stockholders. Those stocks are held by the majority of pension funds, 401ks, 403bs, etc.

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Godot 5 years, 5 months ago

Ron Paul made a great little speech in the finance hearings this morning, making the point that it is useless for the government to try to save a financial system that has failed, that the thing to do is start over with a gold based currency.

It was good that he said it, but also useless, kind of like spitting in the wind, considering the idiot crooks like Barney Frank and Charles Rangel who are in power on that committee.

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shotgun 5 years, 5 months ago

"Assuming either of you has a college degree; it is undoubtedly in social science or some other pretend major."

I'm sorry, I forgot I now reside in the land of acadamianuts!

Get over your self!

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kneejerkreaction 5 years, 5 months ago

BO is SO sure of the need for this stimulus package. Why? What in his background could possibly give him the incredible insight to be so sure this will work and not just create the biggest debt sinkole in our history?

We can't buy our way out of the "recession" any more than we can win the "war" on terror with only military initiatives.

Sorry dude, your stimulus package doesn't pass stage 1 of the reasonable test.

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kneejerkreaction 5 years, 5 months ago

.....and George W. ought to be branded for having given Henry Paulson control of the first huge stimulus package that did exactly NOTHING.

But this time, it'll be different.....because......????? When will we ever learn from our mistakes?

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staff04 5 years, 5 months ago

“Assuming either of you has a college degree; it is undoubtedly in social science or some other pretend major.”

Assuming you have a college degree, it is undoubtedly NOT in math or statistics, given your profound lack of understanding of how polling works.

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staff04 5 years, 5 months ago

And Jindal? That was a mistake. Was there a second grade classroom sitting nearby that he was talking to? I was reminded of Kenneth the page from 30 Rock.

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kneejerkreaction 5 years, 5 months ago

Spend $1,000 a minute, every single minute since Christ was crucified until today = $1 trillion.

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kneejerkreaction 5 years, 5 months ago

staff04....agreed. Please GOP, don't run rubber-faced Jindal against Obama. Very unimpressive.

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kneejerkreaction 5 years, 5 months ago

Truth is, that the people that elected Obama weren't well-informed on the issues, so this rhetoric of last night was more than sufficient to please them.

But, those checks better show up Barack, soon....and I don't think an extra $16 a week is going to make your voting base very happy.

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feeble 5 years, 5 months ago

yeah, saw the David Brooks response to Jindal's speech. Brutal. Ed Rollins said it best (in reference to Jindal's speech), "tonight was a great night for Sarah Palin."

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kneejerkreaction 5 years, 5 months ago

David Brooks is a talking head for the unbelievable lefty twit Chris Matthews, who I watch only for the utter amazement. Jendal's speeh could have been dismantled by 1st graders.

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james bush 5 years, 5 months ago

A college education for every one! He's wonderful! And everything else that his constituancy expects, he will arrange for them to get it. He sounded like an authoritative Pied Piper leading his followers to socialistic Utopia.

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kneejerkreaction 5 years, 5 months ago

And the funniest things last night? As BO was warbling how the bad 'ol corrupt businessmen who abused the bailout money were through, a team of bad 'ol corrupt businessmen who abused the bailout money was on their way back from a spending spree in Las Vegas.

Where was the business from - Chicago - Northwest or Northwestern Bank.

Now, it THAT comedy or what??!!

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sfjayhawk 5 years, 5 months ago

I thought it was a pretty good address, there is no doubt that we face some very tough times - tough times that Obama had nothing to do with creating. While I dont agree with the stimulus package, I do think that saving the banks needs to be a priority - another Lehman might put the US and the world into an economic death spiral akin to the great depression.

Even if you dont agree with the presidents ideas and plans, I think we can all agree that it is a very nice change to have a president that can speak in complete sentences with proper diction and grammar - and who does not resort to made up words.

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Godot 5 years, 5 months ago

"Even if you dont agree with the presidents ideas and plans, I think we can all agree that it is a very nice change to have a president that can speak in complete sentences with proper diction and grammar - and who does not resort to made up words."

Yes, yes, style trumps substance every day of the week. That is why we are in serious trouble.

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beatrice 5 years, 5 months ago

You neocons are so funny! After you supported George Bush and his policies that led us into this mess, you now expect us to listen to you?

Sorry neocons, but stay the hell out of our way -- us Real Americans have a country to fix!

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sfjayhawk 5 years, 5 months ago

Godot - fill me in on GWs substance.

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georgeofwesternkansas 5 years, 5 months ago

Obama says he is going to punish and regulate bankers. Obama says he will give the bankers convidence to loan money again.

Translation: "The beatings will continue until morale improves."

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staff04 5 years, 5 months ago

XD40, thanks for the Bredeson link--unfortunately, any governor who claims he will reject stimulus money is just talking out of his rear so he can position himself for future office--the bill very clearly places the decision to reject money in the hands of the state legislatures, and they love the pork just as much as the US Congress does. If any of them decide to "stand on principle" and attempt to rob their constituencies of federal help (money that will be spent regardless), they will surely find themselves out on their rears.

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feeble 5 years, 5 months ago

XD40, way to spin! Every president in the data provided by Gallup had an approval rating lower than Carter! Heck, Reagan had the lowest numbers of the bunch!

Here's the chart you should be paying attention to" http://sas-origin.onstreammedia.com/origin/gallupinc/GallupSpaces/Production/Cms/POLL/pab6lnapa0ibrqnzwylssg.gif

Yes, BO is losing the Right, but he is winning the Middle and the Left.

You should check out the actual Gallup article, rather than the regurgitated factoids in that blog post you linked: http://www.gallup.com/poll/116026/Assessing-Obama-Job-Approval-One-Month-Mark.aspx Here's the key prediction:

"The fact that the decline is seen exclusively among Republicans, however, could mean that the bottom has been reached, or at least that Obama's approval won't fall much further, as long as Democrats and independents continue to support the economic recovery policies now largely defining Obama and his administration."

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Alia Ahmed 5 years, 5 months ago

Barry says......what mess?

Obama inherits the largest government deficit ever, unemployment is highest it has been in 16 years, the stock market continues to crash. You're right, GWB, we're not in a recession. Keep your blinders on, Barry.

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kneejerkreaction 5 years, 5 months ago

shotgun (Anonymous) says… It's going to take some work to clean up the Buuuuuuuuuuuuush years!

.....and then beatrice (Anonymous) says… You neocons are so funny! After you supported George Bush and his policies that led us into this mess, you now expect us to listen to you?


Now here's a couple of well-informed morons. They actually believed the rhetoric that got BHO elected "the last 8 years". What got us into this mess started in the Carter years and continued through ALL presidents and yes, also George Bush.

That rhetoric only fooled the uninformed, ignorant and stupid....oh, wait, BHO's voting base.

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kneejerkreaction 5 years, 5 months ago

And remember in '05 or '06, Bush's administratin submitted a bill to put more oversight on Fannie & Freddie? Junior Senator from Illinois, Obama, voted against it and I was ultimately defeated.

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kneejerkreaction 5 years, 5 months ago

....insert "it was ultimately defeated"...above....

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Godot 5 years, 5 months ago

Obama apparently does not know what the plan is for the mortgage bailout, either that, or he just cannot help himself when it comes to lying. He said that only responsible borrowers would be eligible for the mortgage bailout program (you know, the one that he said would cost $75 billion but really will cost $275). Turns out that the Sheila Bair, the woman in charge of the program, says there is no plan to determine whether there was fraud involved in qualifying for those loans. And now Ben Bernanke tells the House Finance Committee that he believes that the bad borrowers, those who willingly entered into loans that they knew they could not afford, should be bailed out "for the greater good."

It looks to me like Obama is telling us it is time to quit making mortgage payments. Go out and charge up your credit cards to the max. Buy a new car on credit. Rack up thousands in student loans. Then default. Obama will bail you out. All you have to do is file for bankruptcy, get all those debts discharged, and have the judge reduce your mortgage to create a payment you can afford - 31% of your gross income - regardless of how low your income is or how much you paid for the house.

And, don't worry about how a bankruptcy will affect your reputation - Obama has officially made being bankrupt a symbol of victimhood - the liberals' definition of "patriot." I would not be a bit surprised to see legislation in the near future that requires credit scoring models to add points to a person's score for bankruptcy - the bigger the debt written down, the better the score.

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shotgun 5 years, 5 months ago

Kneejerkreaction......the screen name says it all! Settle down are you having a spasm? Who's the moron? Have any of you know it all's actually read the stimulus bill?............................. I didn't think so. Uninformed, ignorant, and stupid? Did you have a bad childhood?

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kneejerkreaction 5 years, 5 months ago

Godot, I was having this same discussion recently. I don't understand his plan, One day it's for the deadbeats and don't worry 'cause if a house defauts next to yours it will affect the value of YOUR house (which ain't true).

Then when responsible people (understandably) get upset, it's not for the deadbeats it's to reward the responsible homeowners (who aren't the problem).

So, I don't get it. The story keeps changing.

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kneejerkreaction 5 years, 5 months ago

shotgun, I didn't read the stimulus bill. That's why I elect representatives.

But I do recognize a nonsensical statement based on an election soundbite. Do you? Clearly not. I guess I just get annoyed by ignorant comments that are fed to uninformed voters that get repeated as truths. That's all.

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Flap Doodle 5 years, 5 months ago

Dissent is still patriotic, isn't it?

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kneejerkreaction 5 years, 5 months ago

No Snap, if you dissent you are not part of the team. We must only believe.

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jafs 5 years, 5 months ago

Godot,

I think it's bad to bail folks out that way also.

But are you aware that "corporate restructuring" is a very common tool for corporations that find themselves in trouble - it is precisely the scenario you have outlined, except that the banks, lawyers, and CEO's wind up flush while the middle class folks who work there get screwed?

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Godot 5 years, 5 months ago

"So, I don't get it. The story keeps changing."

That is because Obama is just a mouthpiece. Sometimes he strays off script, actually gives his own opinion (based on zero fact) and his handlers get him back out there, prompter in place, to set the record straight. This is what happens when you have a figure head for a president, and handlers that are using polling to shape the message.

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Alia Ahmed 5 years, 5 months ago

Mr_Nancy_Boy_To_You (Tom Shewmon) says…

I feel those who voted for Obama are a bit down right now. At the time, they had nowhere else to turn after eight torturous years of the power usurping Bush. God be with us as our government takes usurping of power to a record high. Chrissy Matthews? Like a flat broke cocaine addict coming down off a week long $1500 binge I'd imagine

Alia says......Tom, project much? I believe you're the one who is down. As an Obama supporter, I'm hopeful about the future. When you're talking about a drug-addicted commentator, you must be referring to Rushy Limbaugh. Did I get the right? To insult or demean someone, you're supposed to add a y to their first name?

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staff04 5 years, 5 months ago

Hmmm...I'm suspicious that an oft-banned, obscurely-monikered poster has returned. Must be a slow week at the publishing house.

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monkeyhawk 5 years, 5 months ago

I guess this is how it is going to "get better"?

http://insideedition.com/news.aspx?storyID=2663

Dennis Moore, along with a number of democrats, and one republican just had a very nice trip on the taxpayer's dime.

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staff04 5 years, 5 months ago

monkeyhawk, what's your point? If you knew what you were talking about, you'd know that these trips are routine, like it or not. It isn't a Democrat or Republican thing, and if you cared to do a few minutes of research (which if you are citing Inside Edition, of Bill O'Reilly fame, as your source I know you won't bother), you'd learn such.

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monkeyhawk 5 years, 5 months ago

staff,

Weren't you talking about "standing on principle" earlier?

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staff04 5 years, 5 months ago

Yeah, and calling it a fraud by a few governors--most of whom cannot run again.

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Godot 5 years, 5 months ago

Fantastic point, Monkeyhawk. The CONgress critters live like royalty 100percent funded by the taxpayers, with no accountability, and no tax obligation for their perks, while the recipients of TARP funds are expected to grovel before these pigs for doing the same thing, but with only partial taxpayer funding.

Les Miserables all over again.

No bread? "Let them eat cake," said Anne Bolyn.

No money for gas? "Let them fly charter," say Mr. and Mrs. Dennis Moore.

Hypocrites. Fools. Crooks.

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staff04 5 years, 5 months ago

To be clear, 6 of the 7 governors who are saying they might attempt to reject the stimulus funds (knowing full well that they have little say over it) have no opportunity for re-election. 3 of them are known to be interested in a White House run.

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staff04 5 years, 5 months ago

"I promise you."

Care to talk about your promises so far Tom? And you wonder why everyone thinks you don't have a clue about what you are talking about?

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staff04 5 years, 5 months ago

"and no tax obligation for their perks"

Wrong again...shocker.

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Godot 5 years, 5 months ago

For staff04, political implications are first and foremost; the good of the country is not even a consideration.

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staff04 5 years, 5 months ago

Yes, Godot, I do believe that members of our Congress should travel to foreign nations to familiarize themselves both with the officials of those nations and the cultures while building relationships--after all, we DO have to work with them on a regular basis.

good of the country is not a consideration--are you serious?

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Godot 5 years, 5 months ago

staff04, Geithner, Daschle and Rangel have demonstrated that Democrat officials do not pay their taxes. They are unable to comprehend the tax code. So sorry for them. More sorry for us.

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staff04 5 years, 5 months ago

Godot, scrambling off-topic again when his ignorance of the realities of Washington are explained to him by someone other than O'Reilly, Hannity, or Rush. Keep scrambling, it's served my favored candidates very well so far.

I've come to know your respect for "good of the country" over party politics on these forums, and you are as big a fraud as those governors I mentioned.

If you want to start counting Republicans with questionable ethics versus Democrats, I'll leave that up to your research. I don't defend any corruption from either party. Just the facts, ma'am.

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Godot 5 years, 5 months ago

The motto of the Obama administration: "Let them fly Charter!"

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Godot 5 years, 5 months ago

You Dems are the ones who started the whole class envy thing. It goes both ways. We have not even yet begun to highlight your hipocrisy. We don't have the time to bring forward every instance of the entitlement and snobism that permeates the Democrat party elite.

You asked for it, you got it.

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staff04 5 years, 5 months ago

Ran out of things to contribute to the debate Godot? Back to worn out slogans that mean nothing?

Again?

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Godot 5 years, 5 months ago

Staff 04 cannot present a lucid argument, cannot refute arguments, point by point. Therefore staff04 resorts to personal attack. Any psychology 101 students care to comment on this?

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staff04 5 years, 5 months ago

Godot-

Excuse me? Details please. Personal attack? Only to your style of debate.

Do you have anything backed by experience or reputable sources? Please point to a relevant argument you have made...

Now for the personal attack you can't point out--you are a joke. You are the reason for so many Republican losses. You are the poster child for willful ignorance. Feel better now?

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staff04 5 years, 5 months ago

Tom--

Trust your promise enough to gamble? I think Vegas is offering about thirty dollars to your one-dollar bet that Obama serves one term.

Unlike you, I'm willing to eat my words when I'm wrong...care to gamble?

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monkeyhawk 5 years, 5 months ago

"Care to talk about your promises so far Tom? And you wonder why everyone thinks you don't have a clue about what you are talking about?"

Everyone?? Actually, Tom made some very good points that had been running through my head recently. Why is it that the people who made up a huge portion of the voting block for Obama are the same ones most in need of a handout? If the have-nots and the "helpers" think for one minute that those of us who have busted our butts for our entire lives are ready to hand it over for the "common good", you are dangerously naive. (Ever heard of the grasshopper and the ant story?) In case you are so out of touch, let me alert you to the undercurrents that are brewing. People will only be pushed so far.

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staff04 5 years, 5 months ago

monkeyhawk, when the haves outnumber the have-nots, then they can run the show. Until then, it's called democracy. Like or hate it--if you want to expand your base, then help create more haves then have-nots. The last few decades of growing the middle and lower classes while shrinking the upper class have not been good for either the haves or the have-nots. Sorry if facts get in the way of this wonderful discussion.

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monkeyhawk 5 years, 5 months ago

staff (not faculty), you are almost as boring as merrill.

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staff04 5 years, 5 months ago

And another person who knows so much blesses us with ad hominem...

By way of understanding who I am, I worked in Washington for many years, including positions on Capitol Hill. I don't want to make assumptions, but statistics are on my side that I know more about this game than you do. Keep up the good work though--your non-refutations of anything I said continue to serve you well.

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Flap Doodle 5 years, 5 months ago

Unempoyment claims took a major jump upwards last month. You're doing a heck of a job, Barry.

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Music_Girl 5 years, 5 months ago

The market is down, unemployment is up and yet the government thinks that borrowing more money to beef up our taxes later is the answer. Seems like a long term problem to a short term "fix". Things are not as bad as the media and politicians try to make us believe. Think about all the stuff our country has been through: 2 World Wars, the Great Depression, etc. People have forgotten how to band together and help out their neighbors. People have forgotten how to sacrifice. People have gotten so wrapped up in having stuff that they've forgotten what makes us a great nation! Do I like a lot of Obama's policies? No, I don't. But I think we will survive and be the better for all our country has to go through. The night is darkest before dawn.

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Flap Doodle 5 years, 5 months ago

The Democrat model is working for some people. Burris' son got a good job. "The son of embattled Sen. Roland Burris landed a $75,000-a-year state job under former Gov. Rod Blagojevich five months ago, the Chicago Sun-Times is reporting. Blagojevich's administration hired Roland W. Burris II as a senior counsel for the state's housing authority Sept. 10 -- about six weeks after the Internal Revenue Service slapped a $34,163 tax lien on Burris II and three weeks after a mortgage company filed a foreclosure suit on his South Side house." http://www.chicagobreakingnews.com/2009/02/burris-son-got-state-job-under-blagojevich.html

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