Obama: "Day Of Reckoning Has Arrived"

President Obama Tells Americans That Country Must Act Boldly; Pushes Broad Agenda Before Joint Session Of Congress

(CBS)  Proclaiming to a joint session of Congress and an recession-scarred American people that the “day of reckoning has arrived,” President Barack Obama said Tuesday night that the country must now act “boldly and wisely” to take charge of its future.

In a speech pegged on dire economic rhetoric, but laced with assurances that America will get back on its feet, the president vowed that the country would emerge stronger from the current crisis.

"The impact of this recession is real, and it is everywhere,” Mr. Obama said. "But 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." (Read the full speech here | .)

The speech, which looked very much like a formal State-Of-The Union address, marked a transition from the hard fights of the president’s first month in office to his attempt to sell legislators and the American people on a broad set of initiatives.

“Now is the time to jumpstart job creation, re-start lending, and invest in areas like energy, health care, and education that will grow our economy, even as we make hard choices to bring our deficit down,” the president said, stressing the importance of investments that will position the United States to compete on the world stage in the long run. (More On What Mr. Obama Said On The Economy)

Addressing a gallery that included first lady Michelle Obama, Supreme Court justices, Cabinet members and everyday Americans - in addition to nearly every member of Congress - the president spoke for about 50 minutes.

Addresses to joint sessions of Congress are traditionally directed more at the American people than the lawmakers gathered in the chamber. For Mr. Obama, however - who currently holds a 63 percent approval rating - the Republican opposition, which stood in nearly uniform opposition to his $787 billion stimulus package, might have been the more important audience.

Still, "this was basically a fireside chat," said CBS News senior political correspondent Jeff Greenfield, comparing the president's speech to Franklin Delano Roosevelt's radio addresses.

Mr. Obama spent much of the speech explaining his actions, as opposed to laying out new initiatives. He defended his administration's move to bail out U.S. banks, saying he understands the frustration of taxpayers who saw bailout money spent irresponsibly but that it is essential to get credit flowing.

"I intend to hold these banks fully accountable for the assistance they receive, and this time they will have to clearly demonstrate how taxpayer dollars result in more lending for the American taxpayer," he said. "This time, CEOs won't be able to use taxpayer money to pad their paychecks, or buy fancy drapes, or disappear on a private jet. Those days are over." (More On What Mr. Obama Said About The Bailout)

Still, he noted, his plan "will require significant resources from the federal government and, yes, probably more than we've already set aside."

The president also suggested that both the previous administration and irresponsible homeowners were to blame for the current crisis.

Americans have lived through an era, he said, in which “too often short-term gains were prized over long-term prosperity, where we failed to look beyond the next payment, the next quarter, or the next election.”

“A surplus became an excuse to transfer wealth to the wealthy instead of an opportunity to invest in our future,” he said. “Regulations were gutted for the sake of a quick profit at the expense of a healthy market. People bought homes they knew they couldn't afford from banks and lenders who pushed those bad loans anyway. And all the while, critical debates and difficult decisions were put off for some other time on some other day.”

Following the speech, Louisiana Gov. Bobby Jindal (at left), a leading 2012 presidential contender, gave a Republican response in which he called the stimulus package pushed through by Mr. Obama and the Democrat-lead Congress “irresponsible.” (Read Jindal’s full response.)

“To solve our current problems, Washington must lead,” he said. “But the way to lead is not to raise taxes, not to just put more money and power in the hands of Washington politicians. The way to lead is by empowering you, the American people, because we believe that Americans can do anything.”

Sen. John McCain, Mr. Obama's Republican rival for the presidency, called the speech "very effective," but added in a post-address interview with CBS News' Katie Couric, "I don't know how you increase all of these programs and still cut spending to a point where you cut the deficit in half.” (Watch full interview.)

Mr. Obama, who focused largely on domestic issues, not foreign policy, said that because of the massive deficit and tough economic landscape, his proposed budget will not include every project some might have hoped for.

“My budget does not attempt to solve every problem or address every issue,” he said. “It reflects the stark reality of what we've inherited: a trillion-dollar deficit, a financial crisis, and a costly recession.”

He told members of Congress that everyone in the room - Republicans, Democrats and the president himself - “will have to sacrifice some worthy priorities for which there are no dollars.”

Noting his pledge to halve the budget by the end of his first term, the president stressed that his administration is reviewing the federal budget “line by line” to find unnecessary programs that can be cut. Already, he said, the administration has identified two trillion dollars in potential savings over the next ten years. (More On What Mr. Obama Said About The Budget And Taxes)

The president stressed the importance of green energy initiatives, noting that the U.S. had fallen behind other countries in harnessing renewable energy, producing solar technology and hybrid vehicles and calling for a market-based cap on carbon pollution. (More On What Mr. Obama Said About Energy)

He blamed both "years of bad decision-making" and the recession for pushing automakers to the brink of bankruptcy. He said that while America "should not and will not protect them from their own bad practices... we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win."

The president also said he would prioritize health care and the "crushing cost" associated with it.

"Health care reform cannot wait, it must not wait, and it will not wait another year," he said. (More On What Mr. Obama Said About Health Care)

Even though it has already been passed by lawmakers, Mr. Obama also touted his stimulus plan Tuesday night. The legislation is likely to be an issue in the upcoming midterm elections, and even in the president's reelection campaign, and he may have an eye on political considerations even at this early point in his presidency, argues CBS News political director Steve Chaggaris.

"Mr. Obama is in a position where, politically, he's forced to remind Americans that he's trying to do the right thing to clean up a mess he 'inherited' in order to counter the incessant criticism and virtual non-existent support the plan has received from Republicans," writes Chaggaris. (Read his full analysis of the speech here.)

Mr. Obama told assembled lawmakers that he and his ideological opponents can still find common ground on the basis of their shared love of country and their desire to see it succeed, drawing a standing ovation from both sides of the aisle.

"That must be the starting point for every debate we have in the coming months, and where we return after those debates are done," he said.

He went on to laud Americans who are working to put the country back on track, saying he had learned that “hope is found in unlikely places, that inspiration often comes not from those with the most power or celebrity, but from the dreams and aspirations of ordinary Americans who are anything but ordinary.”

A CBS News/Knowledge Networks poll of 534 people who watched the speech, taken immediately afterward, found that eighty percent approved of President Obama’s plans for dealing with the economic crisis. Before the speech, 63 percent approved.

Seventy-five percent of speech watchers said after the address that they had a good understanding of President Obama’s economic plans, compared to 58 percent before the speech. (See the full poll results here.)

[AverJaneQ]

mortar29

We have lost sight of why we came to be the United States of which whose hay day has come and gone. It's destruction under these people will be swift. We have become so twisted that we cannot tell the truth from a lie and even if we did, no one will listen because no one wants to hear it. Lies are much easier to listen to; the truth requires too much effort because we would have to fight for what's right. People want someone else to do it for them and that's why they see no problem with big government. They think it will take care of them but what they will take is not worth giving up. Soon the original Constitution will cease to exist. People in Washington have already tried to disguise the truth which our foundation was built upon, They hate the phrase In God We Trust. I'm surprised that Obama even took the oath on the Bible. I guess he felt he could do it since everyone was watching but if he had had the audacity to reject the laying of his hand on the Bible, it would have been OK because everyone who mattered to him would not have cared anyway. That act will soon cease as people become more desensitized and mezmorized by the trappings of our new society. I'm actually confused by the fact that since the government is so much against Church and State that this little step hasn't been taken away yet. I guess there is some simblence of sanity still residing in the White House. I'm sure all it will take to get rid of it is for someone to say they were offended by it. That always works.

[AverJaneQ]

Noting his pledge to halve the budget by the end of his first term, the president stressed that his administration is reviewing the federal budget ?line by line? to find unnecessary programs that can be cut. (such things as voucher programs for poor children just to mention one) Already, he said, the administration has identified two trillion dollars in potential savings over the next ten years.

But that doesn't include money which will go to fund international abotion and the national death toll of American citizens still inside the womb. As clancy49 was saying in his post; we are being played for idiots. They all have the same goal. The new game under the new president is how to talk people into trusting everything that comes out of their mouth and make the government even more powerful. This nation only continues to abuse its power and will one day fall. It's happened before throughout history. People are so desparate they actually preferred his agenda which states clearly that he would continue to support the murder of the unborn, the special interest agendas and everything that implies, taking money to redistribute (which means the working class will pay for everything) while increasing their spending and growing the government. You think it was bad when Bush was president; at least you didn't have to face the kind of things to come. It has really gotten out of control and people just act like they are so blind to it all. I think everyone who voted for him was promised something by him except those who won't fall for it and see the damage it will cause. It might seem like everything is going well but you'll see as the time comes when you finally wake up and smell the coffee. By then it may be too late. We have become the proverbial frog in the frying pan.

[msmabuse]

Obama less popular then bUSH!!

Impossible, you say?

Well, before Obama stepped in front of Congress this evening, Gallup published the following:


Quote:
For the first time since Gallup began tracking Barack Obama's presidential job approval rating on Jan. 21, fewer than 60% of Americans approve of the job he is doing as president. In Feb. 21-23 polling, 59% of Americans give Obama a positive review, while 25% say they disapprove, and 16% have no opinion.

Almost exactly eight years ago, then newly-elected President Bush's numbers were 62 percent approving his performance, 21 percent disapproving, and 17 percent having no opinion (scroll about 3/4 down this Polling Report link).

As such, regardless of how hard media are working to foster this view that this is the most popular president in the modern era, such is not the case.

In fact, even ABC's director of polling reported Tuesday that Obama's current numbers are actually quite average with George H. W. Bush, John F. Kennedy, and even Jimmy Carter being more popular after just a month in the White House.

[ratbiggy]

Polls show that 79% (SEVENTY-NINE percent) of Americans watching the address on TV said they APPROVE of President Obama's approach to the economic woes of the country.
Posted by realnews12 at 9:33 PM : Feb 25, 2009

And a survey of riders on a city bus showed that 79% of them ride the bus at least once a week.

Which shows..... that anyone who doesn't see the flaw in that statistic isn't very bright.

[ratbiggy]

That will have to wait until all the criminals in the Bush administration are prosecuted & imprisoned. Including Bush & Cheney.
Posted by tuckerndfw at 10:53 PM : Feb 25, 2009

Aren't you the one who called the Clintons "sociopaths" and who wrote a letter to Bill Clinton asking him to resign?

Why do you have so much passion against Bush when you say you feel that way about the Clintons?

The Clintons are just as much to blame for this mess as Bush.

[clancy49]

Americans need to be non partisan. Reality Check, we no longer elect representatives, we elect well funded and well marketed politicians. This isn't about any benefit for any American taxpaying worker, this is about power and control. Our Congress and Senate doesn't represent their states, they immediately represent the Federal Government and their benefits only. Democrat or Republican, there is plenty of dung on both sides to fling. The only solution to this mess is fire everyone, fire the Congress and Senate, fire the Supreme Court Justices, and fire the President. Then hold neighborhood elections to re-establish local representation. Elect your neighbor, a judge you know, or a really good attorney. This nonsense about being super smart to be in Washington is another load of cow dung. Read the Congressional Record. The bills go through the underlings who tell the rep how to vote based on the reps current mood. The Congress spends most of its time naming Post Offices and acclaiming football games. You don't need experience for that. You don't need smart for talented underlings to do your reading and analyzing. All you need is money, big money. Fire them. Demand limited tenure for every office. Don't you all get it? We are being played for idiots especially when we choose sides on who done what. Unite America and make this the great democracy it once was. Elect representatives of the people and states, not politicians.

[realnews12]

HOW MANY TIMES DID NANCY PELOSI JUMP UP AND APPLAUD?

Posted by krisinal at 9:04 PM : Feb 25, 2009

About the same number of times that members of Congress and the rest of the audience did. What's your point ?

Polls show that 79% (SEVENTY-NINE percent) of Americans watching the address on TV said they APPROVE of President Obama's approach to the economic woes of the country.

[tamericanpie]

He doesn't really get it at all, he's just saying that. He has little understanding of what is really happening in America. It's very transparent that he does like being the President.

[sndkzyaa]

Geithner Daschle Burris Holder

Obama remains aloof and oblivious

Those are pure Obama.

You can't blame those on Bush.

Democrats are allergic to facts.

[sndkzyaa]

Geithner Daschle Burris Holder

Obama remains aloof and oblivious

Where is the integrity?

[sndkzyaa]

Obama has been in office barely a MONTH you poor small minded fascist!
Posted by mcvet-1 at 3:43 AM : Feb 25, 2009

And it has been the most incredible month of unmitigated disaster in years.

Geithner Daschle Burris Holder

Blago's criminal trial is yet to come.

Every week brings another disaster that is pure OBAMA.

You can't blame Bush for Geithner Daschle Burris Holder.

Those are PURE OBAMA.

Obama's failure to gain more than 3 votes from the GOP demonstrates his failure to live up to his promise to "reach across the aise" and gain bipartisan support. You don't hold out the hot end of the branding iron and then blame the other guy if he doesn't grab on to the red hot metal.

Obama is an utter failure. The stock market shows the reality of how bad things are.

But not to worry. Between Hillary and Burris the Democrats are headed for a major meltdown. Blago's trial will push them over the edge.

If the USA is lucky, that will stop them in their tracks.

After the Democrats are all taken away in handcuffs, then maybe we'll have some hope for the future.

[sndkzyaa]

the lynch pin that failed and precipitated the crisis was the failure of the SEC (headed up by Cox) regarding oversight of the investment banks.
Posted by formrusmcsgt at 4:11 AM : Feb 25, 2009

Yes, I agree. It was criminal that they didn't pursue Madoff when he was turned in in 2000.

Considering that rampant and widespread accounting fraud was occurring at Enron and other companies at the same time period, I think this points to a profound failure of leadership.

And that was BEFORE Bush was president.

[mav547166]

Sounds like trickle up economics to me.

[Obama_Is_Chavez]

Did you listen to the speech? Everyone I know did and everyone I know understand what he wants to do and how he wants to do it. Either you are intentionally distorting things for, I'd suppose Political Reasons or just aren't intelligent to know talking points when they are fed to you. If what you are doing is political then the 80% approval of the speech should tell you something. If you just can't distinguish talking points from reality, you really shouldn't be involved.
Posted by skyk-2009 at 3:24 PM : Feb 25, 2009
**************************************************************

Give me a break. OBAMA should fire the guy who writes speeches for him. His lies dont work anymore. He has 564 promises to fulfill and has done nothing yet. OBAMA should quit that smooth speech he uses to hypnotize brainwashed people and start doing something.

[skyk-2009]

Why?
Posted by mortar29 at 3:20 PM : Feb 25, 2009


If you have to ask why then you don't belong in America!

[skyk-2009]

Can the majority be wrong?
Posted by mortar29 at 3:23 PM : Feb 25, 2009

About where we go as a nation? No. The People are the one's to make the decision on who they want to lead and in what direction. They decided this November that we were headed in the wrong direction and wanted it changed. That is what is happening and they, obviously agree. At the end of that term they will then do as they did in the case of George Bush, give their decision as to the job he did. It's called Government by the People!

[skyk-2009]

Oh yeah. I see. OBAMA wants $634B for the health of his friends. Bush gave him $700B, then Congress gave him another $800B, now he wants $634B. How he plains to zero the deficit spending like that? Where is this money going? Down the toilet?
Posted by Obama_Is_Chavez at 3:10 PM : Feb 25, 200

Did you listen to the speech? Everyone I know did and everyone I know understand what he wants to do and how he wants to do it. Either you are intentionally distorting things for, I'd suppose Political Reasons or just aren't intelligent to know talking points when they are fed to you. If what you are doing is political then the 80% approval of the speech should tell you something. If you just can't distinguish talking points from reality, you really shouldn't be involved.

[skyk-2009]

While I dont defend the Republicans, what the Dems are doing isnt change...it is more of the same. Which means your theory means the people will be mad, because Obama hasnt instituted any change.

And the Founders are in Obama's way too! I'll stick with them!
Posted by mortar29 at 3:17 PM : Feb 25, 2009

Well if 80% of the people listened to him and agree that is the change they want, I'd suggest you are wrong. Sure you can continue this insane approach to the issues but you will not turn the people of this country around. History clearly shows that when they decide to change course those who refuse to do so are left in the dust of time.

[skyk-2009]

You have got to be kidding...this is a direction reaction to Fannie/Freddie selling KRAP up for derivatives and NOBODY trusts our markets anymore...

And all the while the criminals at Fannie/Freddie have been covered up for by the democrats....they've denied the criminal acts EVERY TIME they were asked about it.

The markets cannot possibly stabilize until the US gets it act together, which won't be for another four years when we kick the Comrade criminal democraps out!
Posted by ChgUBINOT at 3:12 PM : Feb 25, 2009

You are still trying to sell this? How many times during the Election Cycle did you post this ridiculous excuse for the failure of the Republican Party and President Bush. Not only did the people of the nation reject that argument, they did it by a wide margin. We have to move forward and we have to do as the People have decided. They want the course of this nation taken away from Supply Side and that was the main issue in the Election. They elected President Obama and they are supporting him. Now I guess you and the Republican Party can continue to deny that reality but it will cost you even more.

[TheMasses13]

Everyone come to cayleedaily.com when you tire of this crap.
Some are already there.
Check it every day.