Posted on 10/12/2009 3:06:46 PM PDT by NormsRevenge
WASHINGTON (Reuters) – The Obama administration has helped pull the U.S. economy back from the "abyss" with aggressive efforts to spur growth and stabilize financial markets, a top White House adviser said on Monday.
Defending policies that Republicans have attacked as ineffective, National Economic Council Director Lawrence Summers argued measures put in place by the administration, including a $787 billion stimulus package, had helped turn back the deepest U.S. recession since the Great Depression.
"Thanks largely to the Recovery Act, alongside an aggressive financial stabilization plan and a program to keep responsible homeowners in their homes, we have walked a substantial distance back from the economic abyss and are on the path toward economic recovery," Summers wrote to House Republican leader John Boehner.
Obama is facing rising clamor to take new steps to lift the economy and jump-start job growth as the U.S. unemployment rate edges toward 10 percent.
The bleak jobs picture, and soaring fiscal deficits that reflect the cost of battling the recession, could put some of Obama's Democratic allies at risk in next year's congressional elections, unless voters are convinced they are doing all they can to help the economy.
"Every American is asking this administration: Where are the jobs?" Boehner said in a statement. The Ohio Republican noted the economy had lost roughly 3 million jobs since Congress had approved the stimulus package in mid-February.
(Excerpt) Read more at news.yahoo.com ...
LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL
The only abyss close to the loon administration is that contained within his socialistic head.
US President Barack Obama talks on the phone in the Oval Office of the White House in Washington, DC, in May 2009. The White House has gone on the offensive against its critics in the press, singling out Fox News and going so far as to accuse the News Corp.-owned network of waging a "war against Barack Obama. "(AFP/File/Saul Loeb)
You have no evidence.
Point taken.
That’s what they keep telling us. LOL
THANK you, Barry.
Somehow this economic claim reminds me of that joke. But it's a much more bitter joke.
This Porkulus did what? I ain’t seed a dime of it.
US President Barack Obama speaks during a rally on healthcare at the Comcast Center in College Park, Maryland, on September 2009. Powerful US insurers turned on Obama's top priority health care reform drive on the eve of a key congressional committee vote, warning the plan would send family medical expenses soaring. (AFP/File/Jewel Samad)
Do any of these goofballs know how silly they sound?
10% is the new 8% ya know.
Please tell me that he can't be that stupid to actually believe what he is saying.
thanx to King Odumbo (piss be upon him) and his merry band of marxists, we are all going to hell in a hand basket, and there is even a shortage of hand baskets.
we are so screwed.
Look at Obama’s empty desk. A recent thread showed former presidents’ desks that were stacked with papers. They were doing serious work at their Oval Office desk. Not Obama. Nothing on his desk.
Why are they talking about another stimulus if the first one is working so good? A rising stock market does not mean we are in economic recovery. The stock prices are going up on recovery rhetoric and they will come down when they are hit by reality.
PART 1: - Incredible, proven, systematic, pro-Clinton, pro-Obama, pro-RINO, media Bias.
So much bias that even Bill Clinton finished ***Third*** in Battle for Campaign Coverage
PART 2: - Endless Loans to Illegal Aliens, and then the Gambling Bankers without Accountability
PART 3: October Surprise to THROW Election2008, driven by Paulson/Geithner/Dodd/Obama and the so-willing MSM.
FLASHBACK: from 9/15/08:
How did Obama know THEN
that we would experience the 'most serious financial crisis since the Great Depression'
when those who did not plan the takeover would not know for three more months?
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