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Posts Tagged ‘Obama Stimulus’

Obama Signing Stimulus Bill In Denver: VIDEO, UPDATES

AP/Huffington Post |  BEN FELLER   |   February 17, 2009 08:40 AM

Check back here at 2:30 PM ET for live video of Obama signing the stimulus bill.

President Barack Obama is ready to sign into law the most sweeping economic package in decades, a rescue plan meant to reinvigorate job creation, consumer spending and public optimism. Add the bill to an ever-growing deficit.

Capping the biggest victory of his month-old administration, Obama will sign the economic legislation Tuesday in Denver.

The setting, the Denver Museum of Nature & Science, is meant to underscore the investments the new law will make in “green” energy-related jobs. It also allows Obama to get away from Washington, where the bill’s passage was a mostly partisan affair, and be among people who may benefit from the huge government intervention.

On Wednesday in Arizona, Obama will unveil another part of his economic recovery effort _ a plan to help millions of homeowners fend off foreclosure.

But first comes the $787 billion economic stimulus bill, which tries to attack the nation’s economic free fall on multiple fronts.

MORE HERE

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Dems Fed Up With McCain: “Angry Old Defeated Candidate”

Huffington Post- Sam Stein

February 15, 2009 12:00 PM

Democrats are growing increasingly frustrated with the brash political attacks Sen. John McCain has launched against Barack Obama in the weeks since the new president took office. No one expected the Arizona Republican to be a legislative ally for this administration. But it was widely assumed that Obama’s overtures to McCain in the weeks after the election would dull some of the hard feelings between the two. Now, they are realizing, it has not.

“He is bitter and really angry,” Bob Shrum said of McCain in an interview on Friday. “He is angry at the press, which he thinks is unfair. He is angry at Obama and angry at the voters. He has gone from being an angry old candidate to being an angry old defeated candidate.”

Indeed, during the debate over the economic stimulus package it was McCain, as often as Senate Minority Leader Mitch McConnell, who spearheaded the opposition. The Arizona Republican denounced the proposal as pure pork on the Senate floor and introduced an alternative measure compromised nearly entirely of tax cuts.

On Sunday, McCain wouldn’t let the fight die, even with the legislation through Congress. Appearing on CNN, he described the $787 billion measure as “generational theft” and said that the bill’s authors should “start over now and sit down together.”

MORE HERE

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Obama: Stimulus a ‘major milestone to recovery’

RAW STORY
Published: Saturday February 14, 2009

WASHINGTON (AFP) – US President Barack Obama early Saturday hailed a 787-billion-dollar economic stimulus plan passed by Congress, calling it “a major milestone on our road to recovery.”

“This is a major milestone on our road to recovery, and I want to thank the members of Congress who came together in common purpose to make it happen,” Obama said in his weekly radio address.

He promised to sign the package into law “shortly.”

The comments came after the US Congress late Friday approved a 787-billion-dollar package of tax cuts and fresh spending to salvage the broken US economy, handing the president his biggest yet political victory.

The Senate voted 60-38 to pass the measure hours after it cleared the House of Representatives by a lopsided 246-183 margin, setting the stage for Obama to sign the measure into law before his self-imposed February 16 deadline.

Obama expressed confidence that the plan “will save or create more than 3.5 million jobs over the next two years, ignite spending by business and consumers alike, and lay a new foundation for our lasting economic growth and prosperity.”

The legislation, a product of hard-fought negotiations this week, allocates 120 billion dollars to infrastructure spending, including monies for highways, trains and expanding broadband Internet access.

It also features nearly 20 billion dollars for renewable energy and 11 billion to modernize the US electrical grid — steps former vice president Al Gore warmly endorsed weeks ago as a major downpayment on Obama’s strategy for fighting climate change.

The bill includes tax cuts — expected to benefit 95 percent of US families — and tens of billions of dollars for extending unemployment benefits, bolstering healthcare for the least well-off and funds to help cash-strapped states avoid cuts in services like education.

MORE HERE

The following video was posted to WhiteHouse.gov on Feb. 14, 2009.

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Obama On Lessons Learned: I Should Have Started With No Tax Cuts And Let GOP Take Credit For Them»

Think Progress- By Faiz Shakir on Feb 9th, 2009 at 9:42 pm

At tonight’s White House press conference, NPR’s Mara Liasson asked President Obama what lessons he has learned through the process of negotiating with Republicans over the economic recovery package. Obama explained there’s a lot of people who “sort of want to test the limits of what they can get.”

Reflecting further, Obama reminded the journalists present that the conservatives had originally expressed their approval of Obama’s plan to offer over $300 billion in tax cuts. But over time, they decided not to negotiate in good faith:

They were pleasantly surprised and complimentary about the tax cut that were presented in that framework. Those tax cuts are still in there. I mean, I suppose what I could have done is started off with no tax cuts, knowing that I was going to want some and then let them take credit for all of them. And maybe that’s the lesson I learned.

He added, “People have to break out of some of the ideological rigidity and gridlock that we’ve been carrying around for too long.”

Obama went on rip Republicans who now lecture about the need for fiscal responsibility. “It’s a little hard for me to take criticism from folks about this recovery package after they presided over a doubling of the national debt,” he said. “I’m not sure they have a lot of credibility when it comes to fiscal responsibility.” Watch it:

In early January, when Obama unveiled his recovery plan, ThinkProgress’ Matt Yglesias warned of the problem with starting off the stimulus negotiation with a healthy amount of tax cuts. “It’s one thing to unveil a compromise as a result of a bipartisan negotiation, and another thing to unveil an opening bid that you say you hope conservatives can get on board with,” he wrote.

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Obama News Conference (VIDEO)

Huffington Post |   February 9, 2009 09:48 AM

Scroll down for video… Read Obama’s opening remarks here

President Barack Obama, pressuring lawmakers to urgently approve a massive economic recovery bill, turned his first prime-time news conference Monday night into a determined defense of his emergency plan and an offensive against Republicans who try to “play the usual political games.”

He said the recession has left the nation so weak that only the federal government can “jolt our economy back to life.” And he declared that failure to act swiftly and boldly “could turn a crisis into a catastrophe.”

He said the country could be in better shape by next year, as measured by increased hiring, lending, home values and other factors. “If we get things right, then, starting next year, we can start seeing significant improvement,” Obama said.

With more than 11 million Americans now out of work, Obama defended his program against Republican criticism that it is loaded with pork-barrel spending and will not create jobs.

“The plan is not perfect,” the president said. “No plan is. I can’t tell you for sure that everything in this plan will work exactly as we hope, but I can tell you with complete confidence that a failure to act will only deepen this crisis as well as the pain felt by millions of Americans.”

MORE VIDEOS & MORE ON THE STORY HERE

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You’ve probably noticed that the debate swirling around the president’s recovery bill has reached new levels of mortal terror and chaos. Even a casual excursion around the liberal tubes and you’ll find posts that read like the worst parts of the Bible. There’s a palpable vibe in many progressive circles that the president is on the brink of an epic fail.

After all, this is one of those do-or-die moments in American history and the panic level is rightly proportional.

But while urgency is appropriate, we’re losing the initiative.

We all have our own ideas about what the recovery bill is supposed to look like. The Republicans are threatening to filibuster, and we can’t trust Harry Reid to stop them. Rush Limbaugh, the very serious leader of the Republican Party and alleged sex tourist, has ordered his dittoheads to blitz the Democrats with angry phone calls. Concurrently, Democrats, liberals and progressives, for all we’ve learned in the last eight years, are losing the framing battle — “stimulus package” sounds like a weird service offered at a porn store and, in that context, a trillion dollar “stimulus package” sounds, you know, painful. Meanwhile, centrist Democrats like Ben Nelson appear to be ransacking the bill. Other Democrats have bugged out of Washington entirely.

We’re looking at fire and brimstone coming down from the skies. Forty years of darkness. The dead rising from the grave! Dogs and cats living together! Mass hysteria!

Come to think of it, some of that Ghostbusters stuff might actually come true if a beefy and expensive recovery bill isn’t passed, and right soon.

So how do we get there?

The first step in getting a handle on all of this mayhem is to understand that this is unprecedented in terms of size, scope and strategy — only rivaled by the New Deal. Then again, for all of the obstacles he faced, FDR didn’t have to negotiate his way through cable news, a hostile press, far-right talk radio, the blogotubes and an army of dittoheads taking their orders from an impotent burnout whose stated goal is the failure of the economy. In other words, while there are very smart economic solutions being pitched by Paul Krugman and others, the price tag, politics, optics, media and discourse are all brand new.

This is massive, this is complicated, this is unlike anything we’ve ever seen.

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There’s a killer web graphic that was created back in the post-Republican Convention days while everyone was writing spasmodic, breathless “Obama should [fill in the blank]” blog entries and “Oh crap! We’re gonna lose!” newspaper columns. Not that there’s anything wrong with that, really. The Obama campaign slipped in the polls during Sarah Palin’s very brief golden age — an era of roughly two weeks following the Alaska governor’s successful recitation of a convention speech without, you know, choking on her own vomit.

Very few of us were confident of an Obama victory at the time. After all, previous Democratic nominees had been riding bullet trains to victory in the polls, only to gradually and utterly bonk as the summer segued into autumn. Even candidate Obama was warning us about the Democratic habit of “snatching defeat from the jaws of victory.” Yeah. Anyone who claims to have been absolutely 100 confident of a Barack Obama victory in the first week of September 2008 is either lying or lying.

However, some people were more confident (hopeful, perhaps) than others.

The web graphic is actually a photograph of Barack Obama from his Invesco Field acceptance speech. In it, he’s looking directly into the camera with an expression of fierce determination on his face — his teeth gnashed in an Eastwood snarl, his left hand gesturing as though he’s kung fu fighting his way through an oversized cinderblock made of SlapChop-minced Republican skulls.

The large, white text superimposed at the top reads: “Everyone chill the fuck out.” The text at the bottom exclaims: “I got this!”

Sure enough, two months later, we watched as this liberal African American man with the noble yet politically unusual name “Barack Hussein Obama” defied the odds and won red states like Florida, Ohio, North Carolina, Indiana and the commonwealth of Virginia.

Fade out the roaring crowds at Grant Park. Dissolve to late January.

The economy continues to creep nearer to the crumbling ledge of yet another Depression — if it isn’t there already. And yet the Republicans who very nearly shoved us over the ledge are prancing around as if their collective Reaganomics don’t stink.

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