Obama Vows Swift Action on Vast Economic Stimulus Plan

JACKIE CALMES and JEFF ZELENY
NY Times
Sunday, Nov 23, 2008

WASHINGTON — President-elect Barack Obama signaled on Saturday that he would pursue a far more ambitious plan of spending and tax cuts than anything he outlined on the campaign trail, setting the tone for a recovery effort that could absorb and define much of his term.

In the Democrats’ weekly radio address, Mr. Obama said he would direct his economic team to craft a two-year stimulus plan with the goal of saving or creating 2.5 million jobs. He said it would be “a plan big enough to meet the challenges we face.”

Mr. Obama said he hoped to sign the stimulus package into law soon after taking office on Jan. 20. He is already coordinating efforts with Democratic leaders in Congress, who have said they will begin work next month.

Advisers to Mr. Obama say they want to use the economic crisis as an opportunity to act on many of the issues he emphasized in his campaign, including cutting taxes for lower- and middle-class workers, addressing neglected public infrastructure projects like roads and schools, and creating “green jobs” through business incentives for energy alternatives and environmentally friendly technologies.

(ARTICLE CONTINUES BELOW)

In light of the downturn, Mr. Obama is also said to be reconsidering a key campaign pledge: his proposal to repeal the Bush tax cuts for the wealthiest Americans. According to several people familiar with the discussions, he might instead let those tax cuts expire as scheduled in 2011, effectively delaying any tax increase while he gives his stimulus plan a chance to work.

“The news this week has only reinforced the fact that we are facing an economic crisis of historic proportions,” Mr. Obama said in his address. “We now risk falling into a deflationary spiral that could increase our massive debt even further.”

Full article here

Prison Planet.tv Members Can Watch Fall Of The Republic Right Now Online - Don't Miss Out! Get Your Subscription Today!

CANCER CONSPIRACY? Are "they" suppressing the cure? Will YOU be the next victim? Learn the Secret Truth! - READ FULL STORY

Comment Terms Of Use

8 Responses to “Obama Vows Swift Action on Vast Economic Stimulus Plan”

Obongo Says:
November 23rd, 2008 at 8:42 am
Let me guess public works for 2.5 million americans? LIke what? Digging tunnels for the illegals to use when crossing the border? Or filling potholes? Or perhaps putting tape on old bridges…

How about Obama the “Great” open up some real industry in this country? Something more high tech, something more with a future, even if it is putting some colony on the moon or mars, i think people need to have high paying jobs, not 8.50 per hour type of junk cleaning roads ………

THey spent billions on a stupid war, they could have easily used that money for space exploration, and created a million new jobs, and given this country a brighter future,
rich Says:
November 23rd, 2008 at 8:44 am
Hey “O”, scrap the federal reserve and irs !!!!!!!!! that’s the stimulus we need !!!!!!!!!

http://www.youtube.com/watch?v=B6ZIHbFQAzU

goldieshouse.piczo.com
pissed in canada Says:
November 23rd, 2008 at 8:52 am
For anybody who is interested, here is the list of attending members on Bilderbergs list, you’ll see such actors a Paulson, Bernanke, the new douche that obama is putting in, and a whole assortement of colorfull characters

http://newsworldwide.wordpress.....y-country/
Falco Says:
November 23rd, 2008 at 9:46 am
Tax cuts AND extra government spending, thats what I call fiscal responsibility!

Look on the bright side though, those chaps at the Federal Reserve will be able to collect lots of extra interest on the increased government debt.
swan Says:
November 23rd, 2008 at 11:06 am
No more wars for Israel! Bring the troops home NOW.
centralz@yahoo.com Says:
November 23rd, 2008 at 2:52 pm
What exactly is he going to do? He along with Buah, his geriatric armed robbers ,police and thieves have already completely looted the nation. There is absolutely no chance of him achieving anything at all except printing more already useless toilet paper or dollars to those of you who delude yourselves that there is any iota of patriotism in something the cabals use to wipe their filthy regions. Obama will fail, for the mere fact that the country has failed. It has failed because foreigners now own it.It has been bankrupt for over 30 years and had been living on fraudulent practises which other nations would have been long buried for.Well! it over folks. Most of the denizens of this country will be destitute in the coming years. Nothing can prevent that except they liquidate and flee for the border now. Anyone remaining of which there will be millions will suffer very relative third world poverty.The rich won’t feel it that much,but their freedom would be curtailed also by been garrisioned in their already armed patrolled gated properties. This country has been raped, stabbed and disfigured, to such an extent that it is no longer the USA in any from or manner. We have no more freedom, no money and they are rapidly tagging us as modern day slaves to satanic shadow masters.
We are and will be paying the steep price because, when these ‘holier than Jesu type leaders fronted by church attending and prayer meeting ‘fundamentalist’ Bush ,cheney,zionists and bankers went after other countries years ago, we americans were like, well! they deserved it bloody third world peasants, we were only showing them the way to be like us.DEMON-CRAZY.Then they went after our neighbours in South America, an everyone was drinking Buds punching the air and looking for more supposed ‘Maxists’ and communists to teach a lesson. They went for the Chinese, but given they counld speak they language and need them for the mean time they turned and started feeding on Europe and russia, which for some good american bred stupidity bore the venom of all until they collasped. Stupidity because a majority of americans have roots in Russia and germany whether they know it or not. Haven eaten, it young, they chomped up Iceland ,and are rapidly masticating particularly the UK which is already a third world country held together simply because English is the prefered ligua franca of the world. The fatest beast is ofcourse usually left for the big feast or sacrifice to the disposable heros of hipocrisy and that is Us. They are here, we know and can feel it that we are freaking dooooooooooooomed and know one can help us because we aided noone when the cabal went around destroying,pillaging and killing.
The fact of the matter is that after the dust settles qnd it will because the world will not end, we will all see that this country belongs to shadows behind our backs and for the foresable future most americans ,like most UK citizens will be paying taxes until they are planted in a paupers grave or incinerated in order not to spoil the view of the bloodthirsty cabal golf clubs. This may appear gloom ladened by if things read as they tend to be, I have not painted any scenario at all. Folks it is going to be very very tough in your own personal yards. Prepare, prepare prepare. You know wha to do.Use your brains there is no time for
scratchinh your butts and hoping for the best. Muxh as those in Iceland until the blade came down.
john brennan Says:
November 23rd, 2008 at 3:20 pm
Hello,as far as any stimulus, myself and my peers who have not had a wage increase of any substance for 8 years,another 600 dollars to pay off some bills will hardly have any effect on the economy.Concerning the big 3 bailout,why doesnt the gov just give anyone who wants to buy a new vehicle say a 10,000 voucher,then maybe people will find a way to buy these over priced vehicles. Lowering interest rates or giving easy loans is what got us into this mess,the reason the economy has stalled is because nobody can afford anything,wages have not increased we have hit a purchasing power wall.This is just the result of corporate greed gone to far,when they could have given us a raise they didnt now they cant.
New World Liberty Says:
November 23rd, 2008 at 3:49 pm
deflation is hardly a problem when we have the fed printing 5 trillion. the economy is deflating, but there is the pressure of monetary inflation.