President Barack Obama is traveling the country to pitch his economic stimulus package.
Obama discussed his plan at a town-hall style meeting today in Elkhart, Indiana, where the unemployment rate is more than 15 percent.
He assured the crowd that help is on the way.
“You didn’t send us to Washington because you were hoping for more of the same,” said Obama. “You sent us to change things. The expectation is that we would act quickly and boldly to carry out change. And that’s exactly what I intend to do as president of the United States of America.”
The president will hold his first prime-time news conference tonight, then heads to Fort Myers, Florida tomorrow for another town hall meeting.
The Senate is expected to pass its $827 billion recovery plan tomorrow. Once approved, the Senate and House will work out a compromise bill to send to the president.
Obama and Democratic Party leaders are hoping to have a measure ready for his signature by next week.
Tomorrow, Treasury Secretary Timothy Geithner is expected to unveil the Obama administration’s plan to overhaul the controversial Wall Street bailout program.
Officials say Geithner will talk tomorrow about how to spend the remaining $350 billion.
They say Geithner will not ask for more money for the program, but will likely discuss ways of loosening credit and helping banks deal with troubled, mortgage-backed assets.
(Berel Septimus – YWN Desk – NYC)
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4 Responses
wait a minute I thought he can solve everything through hope and change?
Quote from Ronald Reagan:
Recession is when your neighbor loses his job. Depression is when you lose your job. Recovery is when Jimmy Carter will lose his.
“Japan’s rural areas have been paved over and filled in with roads, dams, and other big infrastructure projects, the legacy of trillions of dollars spent to lift the economy from a severe downturn caused by the bursting of a real estate bubble in the late 1980s.”
Public spending was so aggressive, it boosted Japan’s government debt to 180% of GDP – more than two times the current U.S. level. But did all that cement buy Japan out of its slump?
You be the judge. Housing prices in Japan are now back down to where they were in 1975 – nearly 90% below the late-’80s peak. And stocks? The Nikkei index is back down to where it was a quarter century ago.
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Is this what we have to look for? Of course our stimulus plan doesn’t have that much infrastructure in it so maybe we can’t compare what they did to it.
According to The Three Stooges (Obama, Pelosi, & Reed), if I didnt have any money all I have to do is get 5 new credit cards, max them out, and it would be ok!?! Does that make sense to you? Are they nuts??!