Posted on 02/14/2009 5:47:42 PM PST by bruinbirdman
Economic recovery in the United States "will be measured in years, not months".
The House of Representatives approved a revised version but with no Republicans support. It passed in the senate in late in the evening with 60 votes, the minimum required to stop dissenters from talking the bill out off the agenda. Only a handful of moderate Republicans sided with the president and his Democratic Party.
The American Recovery and Reinvestment Act is the largest spending plan the US has ever seen. It combines tax cuts (38 per cent of the package), aid to struggling state governments (38 per cent) and central government spending (24 per cent) and aims to revive the world's biggest economy that lost nearly 600,000 jobs last month.
The president has warned that without strong intervention, the US was heading for an irreversible downward spiral, but at the same time has seen the crisis as an opening.
"We have a once in a generation chance to act boldly, turn adversity into opportunity, and use this crisis as a chance to transform our economy for the 21st century," he said, speaking to the Business Council a few hours before the vote.
He added that the bill was "only the beginning of what we must do to turn our economy around", as advisers began sketching a bold legislative agenda for the next 12 months that will include a detailed plan for struggling home owners and an overhaul of regulatory regime of the financial market.
Mr Obama will also propose a budget to lay the groundwork for sweeping health care reform and present a major green energy bill.
In the meantime Timothy Geithner, the Treasury Secretary, will present a more detailed version of his banking bail-out plans, which were heavily criticised earlier in the week
(Excerpt) Read more at telegraph.co.uk ...
Get ready for your ‘fireside chats’ people.
Did he mention the multi-year extension of the recession was caused by him and his Dem buddys?
http://www.freerepublic.com/focus/chat/2136635/posts
“Are you looking for a job?”
Note: This thread is updated on a regular basis.
Well, duh. Obama is an idiot.
In other words, don’t blame me or the Democrats when this does not work by the 2010 elections.
Oh goody!
And how much of this “will be measured in years, not months” rhetoric are we and our fellow peasants going to stand for before we pull the messiah off his throne and nail him up?
Quite the “iconic” picture there. The media make me ill.
“recovery would take years?”
it would if left this clown in charge...
but after double digit inflation, interest rates & unemployment by 2012;
Hussein will be just like Jimmy Carter...”one & done!”
The true Socialist dream.
A crisis that can be extended by Socialist solutions that we repeat same solutions over and over.
What will be left?
Either a true Socialist country or a destroyed country. Perhaps both.
The Obamaloon is right. The recovery take at least four years, and will probably commence after this idiot is voted out and kicked so far out of this country that he’ll not touch the Atlantic before he lands. Could happen sooner, depending on when the revolution starts.
The Obamaloon is right. The recovery take at least four years, and will probably commence after this idiot is voted out and kicked so far out of this country that he’ll not touch the Atlantic before he lands. Could happen sooner, depending on when the revolution starts.
In other words, if things happen to get better after my a** is booted out of office in four years, I get all of the credit.
How many years will it take Zero? Eight?
My neighbor got two. I’m calling the police.
Huckabee just called the stimulus the Congressional Recovery Action Program or CRAP for short.
zero dozed, 47 Americans froze 2 weeks ago !!
What a snowjob.
If the economy improves AT ALL in the next four years, he gets to take credit—”The stimulus the Republicans fought is working, like I said!”
If it doesn’t, he can just blame Bush—”I have said all along, the failed policies of the previous eight years make recovery a long, drawn out process, and my bipartisan stimulus package needs years to work.”
Ugh, I’ve always disliked him but since he was inaugurated he just disgusts me.
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