by Peter Nicholas
FORT MYERS, Fla. - President Barack Obama acknowledged today that if he fails to revive the economy after a few years it could cost him his presidency, as he pressed his case for the $800 billion-plus stimulus package that is moving closer to completion.
Continuing his campaign-style tour of struggling cities, Obama spoke to about 1,500 people here, issuing a warning that the bill should not become a casualty of pointless Washington infighting.
"We can't afford to posture and bicker and resort to the same failed ideas that got us into this mess in the first place,'' said Obama, who was introduced by Florida's Republican governor, Charlie Crist. "After all, that's what this election was about. You rejected many of those ideas because you know they haven't worked. You didn't send us to Washington because you were hoping for more of the same ...''
In an unusual bit of theater, Obama shared with the crowd a piece of fresh information, handed to him by personal aide Reggie Love midway through the event.
"By the way,'' the president said, "I just want to announce that the Senate just passed our recovery and reinvestment plan. That's good. That's good news!''
He added, though, that the Senate and House still must resolve differences between the two plans before he can sign the stimulus into law. "So we have a little more work to do over the next couple of days.''
Thrown on the defensive by Republican charges that the bill is laden with pork, Obama has sought to refocus the issue on people who urgently need government assistance. He visited Elkhart, Ind., on Monday, a city with a 15 percent unemployment rate - three times what it was a year ago. The Fort Myers-Cape Coral region has been ravaged by home foreclosures, while unemployment has hit 10 percent. On Thursday, the president is scheduled to take his message to Peoria, Ill.
While Obama enjoys a high approval rating, he conceded those numbers could turn against him if the complicated and costly economic plans he has put forward fail to work.
Obama asked people to be patient. He said that a recovery could take years. At that, someone in the crowd shouted: "You have eight.''
Obama laughed. "For our TV audience, someone said I had eight,'' he said.
But Obama said he was under no illusions that his popularity could withstand a prolonged downturn.
"If stuff hasn't worked and people don't feel I've led the country in the right direction, you'll have a new president,'' he said. "But I do think the American people understand that these are really big, tough problems and it's going to take some time for us to get out of it.''
On a day when his treasury secretary, Tim Geithner, rolled out plans for shoring up the financial sector, the president previewed a proposal for keeping people in their homes.
In the next few weeks, Obama said he would detail a plan in which banks and homeowners each agree to certain concessions meant to avoid foreclosure. Banks would agree not to evict the homeowner, but in turn would get a share of equity in the house once the market recovers and home prices rise.
Under such an arrangement, "both sides are giving a little bit, but you avert foreclosure,'' the president said.
Obama said he did not want to reveal more, so as not to leave the Geithner announcement "buried.''









Comments
But calls for patience will fall on deaf ears in the GOP. Every day that passes without some miraculous recovery - which they wouldn't attribute to the stimulus regardless - will bring conservative scorn and ridicule.
http://www.political-buzz.com/
Posted by: matt | February 10, 2009 2:40 PM
Of course recovery will take years. This welfare plan, like the new deal, will make thing worse. This is the "change" that fools believed in.
Posted by: BDD | February 10, 2009 2:47 PM
Of course recovery will take years. This welfare plan, like the new deal, will make thing worse. This is the "change" that fools believed in.
Posted by: BDD | February 10, 2009 2:47 PM
....
Yes of course, we should just continue down that dead-end road that the Repuglicans led us too in the first place, you know, the one where Repuglicans give out handouts to the richest 1-2%, big oil and big corporations and then tell everyone else to stuff it.
You Wingnut pleebs are going to be out of power for a looooong time. This is just the beginning of your fall from grace.
Posted by: Doug Vader, Son of Darth | February 10, 2009 2:59 PM
Except for 1937, gdp grew every year FDR was in office. Right-wing infoporn go poof!
Posted by: Joe | February 10, 2009 2:59 PM
This is pork, pure and simple. How is this change except for the worse? If this "stimulus" fails, which it most likely will, Obama will find a way to get a second term by fooling the Obamabots once more into voting for him. What will he call that re-election effort? More change? Change II?
Posted by: Charles | February 10, 2009 3:00 PM
The last thing Republicans want to see is for the stimulus package to succeed. They want to slam the door hard on even the possibility that the gentle shift in outlook and policy generated by our current economic crisis could be the start of something more comprehensive and truly transformative. When they vote on the stimulus package, both today and after the conference committee does its work, many will be crossing their fingers in the fervid hope that it will fail, a disaster for Americans, but, as they see things, a chance of redemption for the right-wing rule that has plagued us for so very long.
Like their leader Rush Limbaugh said, Republicans hope America will fail....because that's their only hope of ever coming back into power.
Posted by: Doug Vader, Son of Darth | February 10, 2009 3:07 PM
how true-if you push policies that have failed when tried in the past and do nothing but spend, you will make the recession widen and last longer. er um er stimulus is about spending, that's the point um um er is not going to inspire many folks as to the wisdom of the speaker. could these dummies please keep their mouths closed?
Posted by: ed | February 10, 2009 3:08 PM
Of course Barry is trying to reduce expectations already.
Good thing the GOP voted against it (except for the three idiots). It won't work, I'll do my part to make sure I don't spend a dime the next 3 years. Barry is a one termer.
Lets, uh, hope time, uh, passes, uh, quickly.
Posted by: moreofthesame | February 10, 2009 3:14 PM
I think he's already realizing the job is too big for him.
Posted by: Kevin | February 10, 2009 3:15 PM
* * * * *
Posted by: matt | February 10, 2009 2:40 PM
.
You’re kidding yourself. The Republicans were the ones asking for patience in putting together a stimulus bill that had a chance of doing what it’s supposed to do. Now that it has been thrown together in haste - owing to a peculiar herd mentality that has overtaken Congress - it has a weird mish-mash of a lot of stuff, much of it ill designed to put people back to work or boost the economy. Why should anyone be patient with that kind of garbage? Have we forgotten already how badly the TARP bill has failed because it was thrown together?
Posted by: John W. | February 10, 2009 3:20 PM
I predict Obama's term (let's hope it's only one; we can't even afford that one, let alone two) will end in abject failure, with the US bogged down in a mountain of debt. He and his family will, of course, be fine, with health care, retirement, etc. (not to mention lucrative speaking fees) for life.
the rest of us? Not so much.
He campaigned on tax cuts and all kinds of economic plans that are NOT part of the pork bill just passed. So spare me the "this is what voters said in November." What he's doing is not what he said.
Then again, I'm completely unsurprised by his lying.
Posted by: Lizzie | February 10, 2009 3:21 PM
Rush wants to destroy anyone who isn't white, male, and adult and the GOP is using Taliban-like tactics to defeat Obama.
http://www.huffingtonpost.com/2009/02/05/gop-rep-we-need-might-an_n_164227.html
These people do not love America; they're more in love with themselves and their power.
Hey...they've got their priorities straight. What is more important: the starvation of a few million Americans and the total collapse of our economic system just to make the Dems look bad or the right to regain power for their failed party?
Well that's an easy one (from their perspective)...regain power for the party of course.
Posted by: Laughing Larry | February 10, 2009 3:24 PM
number one, we cant wait for years. number two, if it doesnt work, obama, and Biden and pelosi, kennedy, ect. should all quit.
Posted by: John | February 10, 2009 3:29 PM
The stimilus mainly will created greed and coruption and pay back Obama's suporters.
Posted by: Inky | February 10, 2009 3:38 PM
This country needs to go back to basics. Stop supporting big business give tax breaks to small business who buy American and locally. So the sweatshops in China and other foreign countries will no longer be supported by our consumers. Americans need to stop being wasteful and buying needless things on credit
Posted by: Karen Lisowski | February 10, 2009 3:56 PM
Funny how the Republicans rant on & on about the stimulus, but have NO ideas of their own for helping revive the economy.
Note, there was 8 years of Republican "leadership" preceeding the Great Depression & 8 years of the same party "leadership" preceeding the current mess ...
Posted by: urbaneddie | February 10, 2009 4:02 PM
What is wrong with this country? Our entire economy is burning to the ground and all the syncophants want to do is blame the other party for the problem. Well, here's the cold truth: you have to spend your way out of a recession and the stimulus idea came from a Republican ("W") so why are the Repubs against it now? Is it simply because the guy proposing it swears allegiance to the other party? If that is really the case then this country deserves to fall just like every other world power before us has done. Or, maybe, we can go back to what worked for us every other time and allow our grand ideas and eternal optimism guide us down the correct path of recovery.
And before either side wants to flame me -just because that is all anyone seems capable of doing anymore-I've always voted Republican until this election. I just don't care which side gets us through anymore, I just want someone to do it!
Posted by: Mike | February 10, 2009 4:03 PM
The republicans hope it is only one. Heck they hope he fails miserably and pains the American people enough to vote for them at sometime in the future. Do we really believe the party that added 5 trillion to our debt has all of a sudden "found" themselves? The spokes person that the RNC chief said we need to listen to has sumed it up nicely...."I hope he fails". What more is there to say?
Posted by: bill r. | February 10, 2009 4:05 PM
According to all of the Bush-Haters, the economy has been on a nose dive for the last 8 years. Why would Obama think it's going to take any less time to turn it around?
I really get annoyed when he uses the phrase "We can't afford to posture and bicker and resort to the same failed ideas that got us into this mess in the first place''. Is this just a blanket smear against the "Bush" agenda? Whatever that was?
Sorry, he's the President now. He has to come up with something better than blame to lead our country. If his team had tried to craft a bill that didn't have so many undefined holes in it, maybe he would have seen a more broad approval than he has. The election honeymoon is over. Please get to work. Americans are smarter than he probably realizes and we need positive direction, not more of the blame game.
Take a page from Reagan's playbook. Be decisive and clear with what and where you want to go. No more "we need this now, I'm the President mularkey.
Posted by: ethan | February 10, 2009 4:05 PM
Frankly I wish there was more spending and less tax breaks in the Bill. All the Wackjob Senators from Dixie e.g. Shelby, McConnel and the Senator from Tennessee are anti American. The term "Buy American" is foreign to them. Heaven forbid we iinvest in our own country but you freakin NeoCONS have no problem dropping a dime in Iraq just astounds me. You truly are unpatriotic!
Posted by: Dave | February 10, 2009 4:12 PM
The stimilus mainly will created greed and coruption and pay back Obama's suporters.
Posted by: Inky | February 10, 2009 3:38 PM
...
You just outlined the BushCo/Republican years of the last eight years, smart guy.
Inky, you're my favorite Repug because you fit my vision of the average ordinary Repug minion perfectly. You have no idea what you're talking about and you can't spell.
Posted by: Magister Ludi | February 10, 2009 4:12 PM
Congressional Republicans would rather the country fail than admit that they have become irrelevant. It's why you see them throwing a childish tantrum (typical), and they're parroting that crap-throwing Rush Limbaugh.
It won't work. Obama's got the bully pulpit, and the Dems have the will of the American people behind them.
But in the meantime, I'm worried about the average people who are hurting because the Repugs are acting like a petulant child.
Posted by: Ice Blue | February 10, 2009 4:22 PM
The stimilus mainly will created greed and coruption and pay back Obama's suporters.
Posted by: Inky | February 10, 2009 3:38 PM
...
You just outlined the BushCo/Republican years of the last eight years, smart guy.
Inky, you're my favorite Repug because you fit my vision of the average ordinary Repug minion perfectly. You have no idea what you're talking about and you can't spell.
Posted by: Magister Ludi | February 10, 2009 4:12 PM
Curious _Are you in on the PORK?
Posted by: Inky | February 10, 2009 5:04 PM
John W.,
TARP failed? You must be joking! Were you on the trading floor when the commercial paper and credit market ground to a halt? That was scary stuff. Unprecedented. It may have been poorly crafted but the initial infusion of TARP money averted complete financial disaster. Stick to being a pro on legal issues and leave the comments to people who truely know what they are talking about.
Posted by: trader mo | February 10, 2009 5:08 PM
Rich repubs born on third base really believe they hit a triple and deserve their advantages.
Obama is more "of the people" even though he sometimes sounds like a professor. Still he knows what he's talking about. He lives in the real world of today. He is my President.
I'm giving him a chance.
Posted by: Joe Check | February 10, 2009 5:30 PM
His definition of recovery isn't the same as most people.
Most people want things "better". Modern Liberals want things "equal".
This is more of a transformation from Democratic Capitalism to as much Socialism as he can ram down our throats.
The "stimulus" isn't really as stimulus as it is a spending bill and it's designed to be a salve to ease the pain of transforming to Socialism.
Posted by: Alz | February 10, 2009 5:43 PM
Recovery plan?? Hope it works better than his plan to help those in need......... Read on......
Where's Obama?
Ice Storms Strike the Heartland: Where's Obama?
Last week a massive ice storm struck the heartland of America, leaving at least 42 dead and millions without power or water. Days later there are still over a million people in Kentucky who have no power, no water, and no communications. They could have to survive this way for weeks! The conditions are dire and getting worse, with some storm survivors carrying pails of water from creeks. Thousands more are living in shelters with no timetable for returning home. FEMA is nowhere to be found.
Amid this catastrophe, where is President Barack Obama? While millions are struggling were struggling with the dangerous and deadly icy conditions President Obama had the thermostat in the Oval Office cranked up like a "hothouse" growing orchids. On Thursday — while millions in Tennessee and Kentucky did not have access to shelter or food — Obama hosted a cocktail party at the White House and served up fancy martinis and an appetizer menu that featured mouthwatering wagyu steak costing $100 a pound.
Saturday night 0 as the governor of Kentucky called up the entire National Guard in his state to deal with the ongoing crisis — President Obama slipped into his black tie attire to attend the exclusive Alfalfa Club dinner, where lavish cocktails and fine dining were the order of the evening. And on Sunday — when millions in Kentucky and Tennessee still lacked the basic necessities of power and water — the Obama family threw an extravagant Super Bowl party!
The devastating storm has been virtually ignored by the national media. The lack of coverage is a media blackout compared to the media onslaught and 24-7 coverage provided in the aftermath of Hurricane Katrina. President Obama has been living it up in the White House while people have been suffering and dying. Five days after the storm, he still has not traveled to the area to provide aid and comfort to the victims.
When President George W. Bush delayed traveling to the areas ripped apart by Hurricane Katrina in order to allow the recovery efforts to take place without distraction, the left denounced him for "not caring." Rapper Kanye West actually claimed that Bush did not do more to help because he "doesn't care about black people." The "Bush hates black people" theme was picked up and promoted by the anti-Bush mainstream media. President Bush was derided as the "bystander-in-chief;" as someone who had ideological hostility to those needing help; and as "staggeringly indifferent" to the plight of those in New Orleans because of the race of those who were most affected. Those were the more "moderate" comments from the supposedly "mainstream" columnists and reporters; the left-wing blogosphere definitively claimed that "Bush hates black people." They even had bumper stickers.
The left-wing extremists suffering from Bush Derangement Syndrome even went so far as to claim that President Bush "played golf" rather than help those suffering souls in New Orleans. It was, of course, a lie. But that lie persists to this day.
The fact that President Obama is "living large" while Americans suffer is no lie. So where is the collective outrage over his callous disregard for the lives of those who reside in a state that does not worship "The One" and which did not deliver any electoral votes last November? Where are the calls for investigations from the Congress? Perhaps the Democratic Party leadership is too busy sharing cocktails with the president at the White House to notice the ongoing tragedy in "flyover country." Or maybe they just share his contempt for the "white people" living in those areas where people cling desperately to their guns and Bibles while their government ignores them.
Posted by: Driver | February 10, 2009 5:55 PM
It's going to take at least a year for the authors of this pork spending frenzy to think of new people to blame for its failure. How convenient that there is nothing in this to measure its effectivness nor is there any oversight what-so-ever.
There are still knuckle heads out there that blame the former President. Hey you dopes, look around, how much input does the President have, none. This is a Congressional train wreck.
The Fair Tax bill would have put money in working American hands today. The left needs to figure out how to get money to the non-working and call it something other than welfare. These are the people who vote for the far left. Tax rebate by keester.
You have not created a job if the worker is paid with tax dollars. You have invented one. It does not help the economy to take money from one person (who would spend it) and give it to another to spend (minus some administration fees of course).
Posted by: Greg | February 10, 2009 6:22 PM
Obama is moving fast to stay ahead of the details of this plan. Before we wake up, he will have created more dependency than LBJ. If you can find a copy, just read the poorly thought out proposals put forth. It has some very scary implications if anyone cares to investigate.
Posted by: Tired Of Obama Already | February 10, 2009 6:41 PM
Ref-
The fact that President Obama is "living large"
Don't thin a worrd has been invented for his (Obma) high living-
Posted by: Inky | February 10, 2009 6:53 PM
Alz, I have opposed many of your posts here, and this latest one just shows how far away from reality you really are. Please turn of the rash radio. Dems do not want everything equal....we want an equal oportunity. That is it in a nutshell you maroon. It takes food, housing, and education to give everyone the oportunity. I am all for letting those fail that want to fail, and I do not want to carry the burdon of those that do not want to help themselves. You just need to wake up out of your delusion and put yourself in some one else's shoes for a change.
Posted by: Xcellentform | February 10, 2009 8:21 PM
Yes, it will take years.
In 1999 everyone bought new computers so they wouldn't crash when the millinium came. Now everyone has over bought and has almost EVERYTHING they need. It will take about 3 years before things start breaking and new ones are needed.
My bets are on 2010.
Posted by: Get Real | February 10, 2009 9:15 PM
Let's hear it for the soon-to-be created cabinet position of universal medical care health czar potentate computer IT guru.
Posted by: 1984 | February 10, 2009 11:20 PM
Replicans through Rush have called for Obama to fail.
Now they're yammering about "unjust appropriation of their money" and just generally obstructing.
So, as a preventive, I'd say there do need to be criminal cases brought against not only Madoff but others on Wall St. as well as Iraq contractors, former Justice Dept. officials who subverted its functions, etc.
Why? Er, well, because the recent performances by the Replican leadership signal they've no intention of cooperating, and only look forward next year and beyond to attacking Barack as a purveyor of false hope and flawed solutions.
Obstruct and then attack him as a failure.
So, get those Truth Commissions up and running, I say!
Posted by: ornery | February 11, 2009 1:31 AM
Don't confuse "living large" with the fact that Obama is youthful, energetic, and charging ahead to advance his objectives he campaigned on.
"Living large" in the derogatory sense you mean, would apply to the Bush purchase of $500,000 worth of gold plated "Presidential china". Just to cite one example.
Or pressuring the Navy to name an aircraft carrier after his old man.
Just to cite another example.
Posted by: ornery | February 11, 2009 4:07 AM
Obama the Unqualified means not years but under HIS plan - DECADES. He does not want a recovery. He wants socialism. Socialism does not succeed in a Capitalist Environment free of Government interferance.
Posted by: Darkwater | February 11, 2009 4:35 AM
The more money the government borrows for it's folly of a "stimulus" is less money the actual economy has available for use in a real recovery.
Just ask the Japanese how well that worked in the 1990's. They ended up with a 10 year recession made worse by government meddling.
Posted by: Crazy Politico | February 11, 2009 5:39 AM
I'm sick of you people still talking about Socialism. I'm an MBA graduate and believe whole heartedly in the free market system. But sometimes you need government to spend for the long term future of this country...long after Obama is out of office and the next few Presidents are out of office. The governement started the railroads, electric grid, roads and airports (many of which are now going private), and countless other projects, not only to help the economy but to promote the long term health of the country. The private sector will not invest in our energy grid. They will not invest in clean energy until the cost of oil becomes unbearable. Business generally thinks of short term results - quarters, 1 year, 5 years. How much money have we spent, not only in the wars during the last few years, but all of the conflicts and our personnel in the Middle East? For the sake of our security and our economy, sometimes we need these spending plans. The private sector is business...they only care about themselves and their short term gains. This is bigger than us. Republicans like to talk about how our kids and grandkids are going to have to pay for our debt. Well, what will our debt be if we can't turn this economy around (and do nothing as some have proposed). You still need police, firefighters, and countless other governement services. If government doesn't have money they are either going to print the money and we will be in debt or they are going to cut things like police. Then we will have less security, which means less stability, which means even less incentive for business to invest.
Our country has failed at its strategic vision and has fallen prey to letting everything be run by the private sector. The private sector is not concerned about the long term health of this country. In fact, mostly politicians are not either.
Posted by: Kent | February 11, 2009 7:45 AM
If this plan fails, there won't be anything left to govern.
Posted by: Vast Right Wing Conspirator | February 11, 2009 8:44 AM
I find it interesting that no one recalls that last February, we were assured by Bush/Bernanke, that their stimulus package, which was 2/3rds tax rebate and 1/3 targeted business tax incentives and cuts would prevent or ameliorate the recession, no later than the last quarter of 2008.
That was 150 billion down the drain.
The Bush/Bernanke TARP was equally ineffective. We were assured it would get credit flowing again almost immediately.
Socialism has suceeded just fine in Europe. It is only where they interefaced with the American free market where they were bled.
The relatively unregulated free market has been given ample chance to prove itself and has failed dismally.
The most sustained period of growth in American history occured between 1950 and 1975, when marginal tax rates were around 90 percent, and the only place to safely keep wealth was inside a company, rather than extracting it as personal income.
This is the vindication of Keynesian demand side economics. It not only worked, it perfectly predicts the mess we are currently in.
The applied use of taxation is the only proper method of encouraging positive business behavior and discouraging the sort of speculative investment that cause the current economy bubble and recession. It is the only method that has a record of creating wealth for society rather than profits for individuals, and sustained economic growth. It created a middle class which barely existed before it was put in place.
Posted by: N.J. | February 11, 2009 10:35 AM