Obama Confident Republicans Will Back Plan

$800B Stimulus Package Heads To Senate After Getting No Republican Support In House Vote

(CBS/AP)  President Barack Obama and Vice President Joe Biden will meet with congressional leaders at the White House on Monday afternoon in an effort to press Congress to move swiftly on the $800 billion-plus economic stimulus package.

"Very modest differences" should not get in the way of swift congressional passage of a massive economic stimulus package, Mr. Obama said Monday.

The president spoke to reporters as he and Vermont Gov. Jim Douglas, the Republican vice chairman of the National Governors Association, were about to meet in the Oval Office about the plan.

Douglas agreed with Mr. Obama, saying that a stimulus package is essential to getting the country moving again. Douglas is among the several Republican governors who are breaking with their GOP colleagues in Congress to ask for approval of the plan.

On Sunday, Mr. Obama said he was confident congressional Republicans will come around to support the final version of the legislation, repeating what his top aides and officials have been telling reporters in recent days, that the final package would be close to its objectives - to save or create 3 to 4 million jobs - and Republicans would be able to back it.

"I am confident that by the time we have the final package on the floor that we are going to see substantial support, and people are going to see this is a serious effort. It has no earmarks. We are going to be trimming out things that are not relevant to putting people back to work right now," Mr. Obama said.

However, Mr. Obama's Republican opponent in the 2008 election, Sen. John McCain of Arizona, criticized the plan for costing too much and not having an "end game."

McCain told CBS' The Early Show Monday that he appreciated the president's efforts to cross the aisle and listen to Republicans' concerns, but that "now it's time to sit down and negotiate."

"We're not there yet, we're a long way away," he added.

(Check out Senate Republicans' alternate plan on the Hotsheet blog.)

With the president continuing to forecast a dire short-term economic outlook, senators from both parties signaled a readiness on Sunday to negotiate, particularly on Republican proposals aimed at reinvigorating the housing market. The housing collapse in the second half of last year set in motion the worst U.S. economic decline in 80 years

"It's going to take a number of months before we stop falling," Mr. Obama said in a television interview linked to NBC's coverage of the Super Bowl.

The president had a bipartisan group of 15 lawmakers at the White House on Sunday to watch the game as he continued personal interaction with legislators - part of his pledge to change the bitterly partisan atmosphere that has gripped the U.S. political system in recent decades.

The stimulus plan passed in the House of Representatives last week without a single Republican vote in support, and faces intense scrutiny in the U.S. Senate this week.

Mr. Obama has been fighting hard for quick passage of the stimulus package, declaring it was needed immediately to help stem the economic slide. He also contends both political parties need to unite behind the effort that could send the U.S. budget deficit quickly soaring past $2 trillion, creating a fiscal and political time bomb.

Initial efforts - a personal visit to the Capitol building to meet lawmakers of both parties and cocktails with them at the White House - paid no dividend last week when every House Republican rejected the measure as too heavily loaded with government spending and too little keyed to tax relief.

"I've done extraordinary outreach to the Republicans," Mr. Obama said in the television interview, forecasting a significant number of Republicans eventually would fall in line.

If the stimulus plan is to survive a Senate vote, Mr. Obama will need Republican support because his fellow Democrats, while in the majority, do not yet hold the 60 seats needed to overcome a Republican filibuster - a parliamentary move that would keep the plan from going to a vote.

On Sunday, a key Democratic senator, New York's Charles Schumer, said he was open to Republican proposals that would provide a $15,000 tax credit to every home buyer and lowering mortgage interest rates to 4.5 percent.

"I think we will get real agreement on the housing part," Schumer said on CBS television.

Republicans in both houses have attacked the Mr. Obama plan - especially as it was voted out of the House of Representatives last week - calling it a grab bag of Democratic spending initiatives that will not quickly stimulate the economy and only serve to burden the federal government with new and lasting budget obligations.

The top Republican in the Senate, Mitch McConnell of Kentucky, and his Texas colleague, Kay Bailey Hutchison, told Sunday television interviewers they want the stimulus package to be: "Timely, temporary and targeted."

In tandem with the stimulus program, the Obama administration was moving to reformulate how to spend the second half of a $700 billion financial bailout plan put in place in the last months of the administration of President George W. Bush to avoid the collapse of the country's financial system.

Treasury Secretary Timothy Geithner has said the administration was considering a government-run "bad bank" to buy up financial institutions' so-called toxic assets. But some officials now say that option is gone because of the potential cost, with some estimating it could take as much as $2 trillion to cleanse financial institutions' balance sheets.

Still, many ideas under consideration could end up costing hundreds of billions beyond the original price tag. Mr. Obama advisers would not rule out seeking more than the $350 billion already set aside.

The Bush administration's spending of the first $350 billion of the bailout package drew heavy bipartisan and public criticism because it went overwhelmingly to bankers who have not put much of the money into the credit system. Mr. Obama only gained access to the second $350 billion with written assurances to Congress that the funds would reach Americans facing home mortgage foreclosures and in need of credit for autos and other big ticket items.

While facing Republican opposition in Congress, Mr. Obama's stimulus plan was receiving support from most Republican governors because it would send billions to states for education, public works and health care. State treasuries are drained by the financial crisis, and governors are desperate for money from Washington.

During the final three months of 2008, the national economy recorded its worst contraction in a quarter-century, declining 3.8 percent. That rate could accelerate to 5 percent or more this quarter.

[kansas1946]

Of course, the Republicans will need to check with their Golden Calf, Rush, prior to making any decisions on the stimulus package. The are all so afraid of riling their dope-head spokesperson that they have to check with him daily. Be nice if the Republicans could act like adults, but their daddy Rush won''t let them grow up.

[McHineguy]

LOL!!!


What a clown!!

He''''s made MORE decisions that are beneficial to America in 14 days, than Bush did in his last two terms!!


And if he didn''''t have to clean up after Bush, he could be making some REAL progress!!




As for the rest of your post, what do you think big business is going to ask for? Tax cuts and less regulations.

What do you think private citizens are going to ask for? Tax cuts and more stimulus checks.

Apparently you''''re the ONLY person that could not / would not see that coming!


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Posted by hungry686 at 08:18 PM : Feb 02, 2009

Here we go again!!! First attack the person (me), then attack the past (Bush), and then ask a question that is off the subject and not helpful.

Heres the deal: Only 22% of Americans aproved of Bush performance so nearly 80% of the people you talk with find your argument about Bush to be meaningless and self serving reference to the past.

I said nothing about tax cuts, they might help. But, realistically, our problem is much deeper than a few percentage points of taxation.

Obama NEEDS the power that comes with working with the establishment, not against it. Like it or not, in todays world, the power is with the producers and that means the people and their industries.

So, stop attacking every right winger you see with those cries of "Bush was bad" and help us help Obama to get things right.

[McHineguy]

Obama''''s biggest fault: He gives the republicans WAY TOO MUCH CREDIT, for wanting to do the right thing.


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Posted by hungry686 at 08:04 PM : Feb 02, 2009

Obamas biggest fault is his stubborn insistence that only HE can fix it. A real leader would have multiple meetings with private citizens and captains of industry with one question: "What does government have to do to empower you to succeed?'' FDR did that, so did JFK and Clinton. Then, when he met wih other politicians he could speak with authority.

But hes not ready to do that because, as McCain said: "He''s not ready to lead."

[McHineguy]

machineguy
sorry buddy, my bad!!


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Posted by williamayer at 07:37 PM : Feb 02, 2009

No problem. Its hard to follow things on this board.

[McHineguy]

FDRs plan of the new deal was a proven flop,
If it was not for the war we would still be suffering from the new comunist deal!!!


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Posted by williamayer at 07:11 PM : Feb 02, 2009

You came in late. I was explaining that Obama could get industry to help him with his stimulus if he wanted to. And he could use FDR as a cover to save face. FDR, after working the "New Deal" for 8 years was faced with WWII and turned to industry. Then things started working for him. If you look back a few posts you will see what I was trying to suggest.

[McHineguy]

"...Our economic strength comes from the honesty, ingenuity, and hard work of the American people..."
Posted by machineguy at 06:25 PM : Feb 02, 2009

YOU''''RE DREAMING!!!!!


There''''s NO WAY a liberal like Obama could EVER say that out loud.

Honesty???? HA!

Ingenuity???? What century are YOU living in??? In the 21st century, STEALING is the way to get money.

HARD WORK???? ROTFL!!! WORK IS FOR LOSERS!!!!!

Welcome to our brave new world.



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Posted by txgrouch2009 at 06:56 PM : Feb 02, 2009

Sadly, you are right. But it has to end and a real leader would find the way. A way that wasnt mired in partisan name calling and threats. I wrote to show the only way I see. I was speaking truth when I said FDR did it so Obama could cover himself that way. FDR called on idustry to win the war and wound up with a good economy.

[McHineguy]

Posted by machineguy

Machineguy -- I meant no offense. Perhaps I didnt read all of your posts and jumped to conclusions. I am not perfect :)


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Posted by LICKBALLS111 at 06:54 PM : Feb 02, 2009

No problem. But the real question is how do we get this guy to do things like I wrote. We are stuck with him for another 3 years, 11 months, and 352 days. Somehow, we need to lead him. His ego is imense and words like I wrote are the only way I see. Let him take credit for getting industry involved.

[McHineguy]

Posted by machineguy

Then why give the dummy Obama any credit? The guys a bust. He''''s an idiot and if you followed the election, you would know so.



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Posted by LICKBALLS111 at 06:41 PM : Feb 02, 2009

I headlined my post with the words: "Why Not??" I thne presented what I think is the most reasonable approach for a true leader. Since it didnt happen and wont happen we are left to the same conclusion. But, I present it as constructive criticism. Even fanatic liberals should see that what I present is the best way out of this. But Obama wont do it because he is afraid to be in the same room with a significant group of true industry leaders. FDR did, Truman did, JFK did, and Clinton did. So, what does this say about Obama?

[McHineguy]

Posted by machineguy

Did you vote for Obama?


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Posted by LICKBALLS111 at 06:38 PM : Feb 02, 2009

Nope.

[McHineguy]

Speakinup -- It is I, poopus. Machineguy is a dummy liberal. It is quite apparent that the dummy liberal ideology is alive and well on here tonight. It must be defeated. It will be defeated.


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Posted by LICKBALLS111 at 06:34 PM : Feb 02, 2009

Please dont attack me personally. It demeans the discussion.

In fact, I am a staunch conservative. If you read the post you will see it is peppered with conservative ideals (industry participation, united we stand, etc.).

It doesnt matter, liberal or conservative, we are in this together and what I present is the fastest, bestest way out.

[McHineguy]

machineguy - so is this from the CEO meeting Obama had about a week ago ?

At that meeting he claimed it was only our business sector that could bring us out of the World economic issue.

Yet, on Jan 9th he claimed on the Government could bring us out of the world economic problem.

Did he have a change of heart, and if so, why isn''''t he acting on it ?


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Posted by Speakinup21 at 06:30 PM : Feb 02, 2009

Unfortunately, its fiction, I made it up to point out how Obama should be working this. The meeting he had before was a nice start but he needs to meet with bigger industries and do it repeatedly. Sadly, he now plans to do it by government alone and I doubt that will work.

[McHineguy]

WHY NOT?!!!

President Obama met with a group of industry leaders at the white house today to discuss ways to bring jobs back to America. The details of the meeting are not known, but an industry spokesman reported %u201Cmuch optimism%u201D for future cooperation and promised support in plans to be presented to the American public %u201Csoon%u201D. Mr. Obama explained the meeting to reporters: %u201CToday was the first of several meetings which I intend will restore cooperation between government and industry to serve the American people and restore our failed economy. My goal is to restore American jobs the fastest, the best way I know, through the industries we have all built, that are already in place, the industries that create jobs and should serve our people. Our economic strength comes from the honesty, ingenuity, and hard work of the American people as we come together to work and to prosper, to create industries that serve our economy. But we have lost that cooperation in a battle of special interests and overcompensation, our economy suffers, and that hurts us all. We must begin again. As Franklin Roosevelt brought American industry to fight a military battle, we must bring American industry to wage an economic battle. Together we can forge a new partnership of cooperation between government, business, and the American people to create an even better future for us and for our children. It wont be easy but the results will be worth it."

Who would be surprised that Republicans are characteristiclly against the stimulus plan considering that under their leadership for 8 years, our economy has gone into the tank. They are up to their same old, same old!

[providence-7]

Were you listening last year? I think I remember the word ''''change'''' mentioned now and then

Posted by sethw76 at 05:30 PM : Feb 02, 200

Where''s the change? Obama is making us go to Afghanistan now. I thought he was elected to end the war not to make himself the new war monger somewhere else.
We do not need another Vietnam! Do we!

[providence-7]

Why did not any republican vote yes on this Stimulus?
I do not understand. Someone please enlighten me.

[strangeworld]

It probably is pretty daunting right now for modern republicans. The people who were 40 or so years old when reagan started *** up America are now in their late 60''s with one foot in the grave and one on a banana peel. The GOP has nothing to offer young people...it''s obvious with situations like this bailout talk - young people can''t find jobs, but the republicans want to give more money to the wealthy via tax breaks, etc.. Republicans are on the downhill slide...I thought that they would do a bit of soul - searching after the last election, but it''s evident that they are still grasping the same worn trickle-down economic policies that have caused this economic problem in an effort to continue to funnel money to their big-business backers. I don''t think that their lack of vision bodes well for the GOP''s chance of coming back for some time.

[rev_miesse]

-Cutting the $4 billion to ACORN would be a start.

Posted by banders6 at 04:30 PM : Feb 02, 2009

I am vehemently opposed to the $12 billion allocated to the "Aborted Fetuses To Be Used At 50% Off Meat Sales" under the "Republican-Owned Grocery Store Stabilization Act."

[banders6]

The right wingers were the ones who demonized ACORN. In fact, they were responsible for quite a bit of spreading of democracy by reaching out to the poor to vote. Why would you want to cut that out?
Posted by noloyalisti

Please... where have you been for the last few months, has your PC been in the shop? spreading of democracy.. registering voters with the same name at 20 home addresses, one man on the video bragging he voted 83 times...... give me a break.

[strangeworld]

I doubt that the thousands of Americans who are losing their jobs daily due to failed republican economic policies are enjoying the show. Giving people who lose their jobs tax cuts are not going to put them back to work - the GOP ideas again are being spawned with putting the most tax money in the pockets of the wealthy. Dragging this on helps the democrats, who soon will go on television and explain how each of their proposals will help create US jobs...at the same time, the republicans will be on TV telling Americans that their tax dollars again will be spent on those who already have money under GOP plans. Which of these do you think will be looked at as being stupid?...lol.

[noloyalisti]

The right wingers were the ones who demonized ACORN. In fact, they were responsible for quite a bit of spreading of democracy by reaching out to the poor to vote. Why would you want to cut that out?