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Obama hits the right notes in speech before Congress
TweetWhen President Barack Obama was pushing through his economic stimulus package, the tone of the White House was intentionally somber; some may say, scary. The doomsday scenarios spelled out by the Democratic president and others were designed to ensure quick passage of the $787 billion measure by the Democratic controlled Congress.
And while Obama did not get the Republican support he was seeking, the stimulus is now law and money should soon start flowing out of Washington.
But all the negative talk has had a downside: Wall Street is in a deep funk.
Thus, on Tuesday, in his first address before a joint session of Congress, Obama was positive, and exuded a level of confidence that the American people can cling to.
“ ... while our economy may be weakened and our confidence shaken; though we are living through difficult and uncertain times, tonight I want every American to know this:
“We will rebuild, we will recover, and the United States of America will emerge stronger than before.
“The weight of this crisis will not determine the destiny of this nation. The answers to our problems don’t lie beyond our reach.”
With that, the president laid out a short-term strategy for dealing with the current crisis — his unequivocal support of the American automobile industry is music to the ears of the people of the Mahoning Valley — and a long-term plan for addressing the ballooning budget deficit and national debt.
The devil of Obama’s economic recovery and growth plan will be in the details. But as an opening salvo, the speech was on point.
During this period of uncertainty and turmoil, Americans need reassurance that the country is in competent hands.
Honest answer
Ask any five economists how they would solve the national and global economic crises, and you’ll get five different answers. But, the only honest answer to that question is as follows: No one knows with any degree of certainty.
On the other hand, what most economists do agree on is that doing nothing is not an option. And, they share the belief that the federal government is best equipped to calm the roiling economic waters.
The idea that the strategy embraced by the former administration — tax cuts for the wealthy — is the answer for what ails the nation today is political poppycock.
The Bush tax cuts, which President Obama has pledged to let expire, did not result in a major investment of capital. Neither did they generate significant job growth.
Ohio lost more than 200,000 good-paying manufacturing jobs over the past four years.
The current crisis demands a new approach, which is what the president is offering. Polls show that most Americans support his initiatives — even while acknowledging that they don’t know if the strategy will work.
To be sure, there are those who are so opposed to Obama, they will never give him any credit or any praise. Fortunately for our country, they are in the minority.
On Tuesday night, it was clear Obama is buoyed by a survey showing him with a job approval rating of 63 percent from Americans in both parties. More significantly, the New York Times/CBS News Poll revealed that while the public is under no illusions that the country’s problems will be resolved quickly, Americans are willing to be patient when it comes to the economy, the Times reported.
His speech should reassure Americans that the month-old administration is confronting the myriad problems it inherited from the Republican administration. In addition, Obama intends to tackle three important issues that will have long-term consequences for the nation’s economic well-being: energy independence, with an emphasis on clean fuels; health care reform — the skyrocketing cost is undermining the national economy — and education reform.
Comments
He'll not get any kudo's from me.
You clowns really like words.
I'd think a misguided schoolchild wrote this piece, but I believe most elementary schoolchildren can do better math than this.
First some basics. The nonpartisan Congressional Budget Office has warned of the dangers of passing this pork-laden spending bill that will add over a trillion dollars to the debt. We are stealing money from our children to pay for this pork. The practice of simply printing more money to pay for gifts from the public treasury will result in inflation and devaluation of the currency. Expanding the public sector and numbers of government dependent not only is not stimulative, it is counterproductive, as well as socialist.
I know that you are bubbling over with hate for our former President, but to say that tax cuts didn't stimulate the GDP and therefore the economy makes you dishonest.
When a patient is ill, the doctor should not rob the patient and punch him in the face. Similarly, the rulers of our land should not do that to our Nation, even if it benefits the ruling aristocracy.
My suggestions to you would be to read about the harm caused by FDR's tax hikes and New Deal, the spending that lead to the fall of Athens, the debt that preceded the French Revolution, as well as why our own Revolution was fought (overtaxation and oppressive government). Please do this before you release more metabolized kool-aid into the public.
Change is coming.....it will hurt.
Obama's promises of not raising taxes have now been discarded. He was elected and now can do whatever he wants.
Raising taxes for the "rich" ($250,000) means all the small businesses will have to raise prices. Guess who "really" pays for this tax? We do.
What is more frightning....this is just the beginning. You will see more and more taxes on other goods and services, as well as reductions in tax deductions.
We are in trouble, and its that man that scares me.
It never ceases to amaze me that it is inherently the rich who get blamed for creating all the problems and to solve these problems we should play Robin Hood and give it to the most non-productive members of society. This continued drivel and resurgence of class warfare will do nothing but hurt America. I get tired of listening to people blather on about how tax cuts don't work and what this country needs is more giveaways. These posts I would bet are written by under-educated, you-owe-me mentality types who think that Uncle Sam is the cure all. I study and watch the economy every single day and will tell you that spending your way to prosperity is not the answer. That is about as stupid a statement as the ones on TV that claim that 'the more you spend the more you will save'. Only an idiot would follow that logic. Can any of you tax and spend socialist types tell me how spending a dollar equals a savings of a dollar? I will admit that the previous administration made their fair share of mistakes and that much is a given. Never the less when I read what is in the stimulus plan and what is coming into the new budget plan I cringe. I remember hearing the Democratic congress squeal at the cost of the tax cuts and how would our future generations pay for all of this. Well now I am hearing more squealing but it is more akin to pigs at the trough. These pork projects that Pelosi and Reid are shoving down our throats is incomprehensible. I would venture to bet that a bottle of Viagra would do more to stimulate the economy than their package of pork. For all of you that hate people that have accumalated wealth in their lifetime you all had the same opportunity and don't feed me that crap about how you were held back because that is bull. I am a first generation American who learned English in the first grade. I struggled with the DP mentality that was tossed at my family and I and all that did was make me work harder. There is not one member of my family that is not successful, educated, or dependant on the government. We all worked and went to school. I am very charitable and do many things anonyomously and if I wish to have any type of wealth-redistribution then let me choose who gets my money and not Uncle Sam. I don't mind paying taxes and have paid more than most people in this community and am not above giving back to those that deserve it. So far all of you that voted for change your lack of foresight and education will be your inherent downfall. Unfortunately I will be forced to lose some also because of shear idealism without substance. You all wanted change now live with it.
His promise to only raise taxes on the rich is an out and out LIE.
First-he is going to let the Bush tax cuts expire causing EVERYONE's taxes to go up.
Second- even if he took every single tax dollar from every tax payer over $500 he would only have HALF the amount of this new budget.
Third- His budget is based on economic growth starting next year that has NEVER BEEN done in the history of the United States.
Fourth- If we gave every dollar from each person making over $75000 / year we would almost cover the budget plan for just THIS year!
And to think we have 4 years of this clown?