Obama, GOP Clash over cure for Economy

(AP)  President Barack Obama and a top House Republican acknowledged in holiday messages Thursday the economic struggles facing Americans this Thanksgiving but offered starkly different recipes for relief.

Mr. Obama and Rep. Mike Pence, R-Ind., singled out U.S. service members at home and abroad for special thanks before saying what they think should be done to fix the economy.

"As much as we all have to be thankful for, we also know that this year millions of Americans are facing very difficult economic times," Mr. Obama said in his weekly radio and Internet address. "Many have lost jobs in this recession - the worst in generations. Many more are struggling to afford health care premiums and house payments, let alone to save for an education or retirement. Too many are wondering if the dream of a middle-class life - that American dream - is slipping away."

Mr. Obama said his administration has acted by cutting taxes for nearly all working men and women and for small businesses and by extending unemployment benefits and health coverage for millions out of work. He trumpeted other administration initiatives, including the health care overhaul, before saying more needs to be done, particularly for those without jobs.

Mr. Obama said he will meet next week with business owners, labor leaders and nonprofit officials to talk about additional efforts to spur job creation.

"It is my fervent hope - and my heartfelt expectation - that next Thanksgiving we will be able to celebrate the fact that many of those who have lost their jobs are back at work and that as a nation we will have come through these difficult storms stronger and wiser and grateful to have reached a brighter day," he said.

(AP)

Pence, seen at right, and the chairman of the House Republican Conference, said in the GOP's weekly address that Mr. Obama had promised that the $787 billion economic stimulus package would keep unemployment, now at 10.2 percent, below 8 percent. Yet, Pence said, the administration insists the stimulus plan is working.

"In the city and on the farm, as millions of American families struggle to balance their checkbooks this holiday season, they watch in astonishment as Washington spends billions of dollars it doesn't have," he said.

"And what is the White House's answer to our struggles? Another meeting next week. A 'jobs summit,' and most likely another proposal to grow government, raise taxes and place more debt on the shoulders of our children and grandchildren."

Pence said Mr. Obama and the Democratic Congress have taken the economy "from bad to worse with their failed economic agenda and big government plans" and now want the government to take over the nation's health care system.

"The way to stimulate this economy and help working families is to let Americans keep more of their hard-earned money, not taking more from their wallets," he said. "Republicans have proposals to get our economy moving again, to achieve energy independence and lower the cost of health care."

[lakota2012]

by apachekid:
Commerce Department says GDP growth over the summer was 2.8 percent not 3.5 percent.
=========================================





So what? Seems as if those GDP figures are always revised as new information is made available, which is what we saw during bushworld.
Besides, after a couple quarters of negative 6% growth during the last quarter of 2008 and the first quarter of 2009, coupled with almost a zero growth in second quarter 2009, don't you 'think' that almost a 3% growth of the 3rd quarter 2009 is a huge improvement during the bush/cheney Great Recession of 2007-2009?

Remember, it only took bush one full year to admit we were in a recession when he made that announcement in Dec. 2008.

[BeckieBest]

Eight years of following Republican economic policies gave us the worst recession since the Great Depression.

What credibility do Republicans have on economic issues?

They'll have to find the humility to admit their mistakes and come up with some new ideas before Americans take them seriously again.

Instead they just sit on the side lines sniping, whining, and trying to undermine our Presidents efforts to clean up the mess they made.

[starleo146]

There only credibility is, I promise you big business all the tax cuts you want. I don't like that nation, let's just go in and bomb the h--- out of them, Shock and awe. Republicans economics, big business and wars.They know nothing else and we are paying dearly for there lack of concern for the people they were suppose to represent. Still crying the same mantra, and there are people willing to let them come in again what is up with that, I think they have a death wish.

[democracy1]

by apachekid November 28, 2009 7:28 PM EST

Since you don't know the difference between "your" and "you're" (among other things), you really shouldn't be making comments on anyone else's education. And BTW, you have NO case to rest.

[JayAdler1]

Just remember that there is still some job discrimination out there,there is uncertainty over the costs of the health care legislation by small and medium size businesses regarding future employment, a huge number of potential workers who are not specifically trained for any vertical industry and will be vastly underpaid, too many seekers too few jobs, college out of reach, Individuals living on unemployment and depending on it and a plethora of other reasons why we are in trouble and will be for a long time. Lastly, if the government does not cause the credit card issuers to stop railing on people in debt and lower the interest rate to at least 8% for payoff with no ability to have usable credit extended until amortization, we will be in more hot water. Companies hiring run credit checks as do most concerns today.

[Midwest71]

Obama needs to fire Summers and Geithner first and start listening to people like Paul Volcker and economist who weren't part of the meltdown.

A major problem is they need to raise tax revenue of some type to pay for all the things they SHOULD have been spending money on like infrastructure and stimulating the economy but couldn't because taxes were so low.

Tax those making $200k or greater more now. They've had it easy for too long. From WW II into the 1960's tax rates for the wealthy were 90%. Corporations now pay little in taxes with all the loopholes they have, plug the loopholes.

But also stop the waste. Medicare fraud is a good example. But there are too many corporations making too much that ultimately put big bucks into the hands of Washington politicians to do this soon.

Then start charging the lumber companies more for the trees they take out of our national forests, nationalize the mines,etc. All the natural resources in this country that aren't privately owned by individuals should be used to pay for things like health care and education.

In other words stop corruptions in Washington, if you want to start a war it's got to be paid for instead of borrowing from the Chinese, and increase the transaction tax for stock and bond trades so that the Big Banks will pay for the financial meltdown. If they threaten to move to another country nationalize their assets and kick them out along with their top executives. Never let them do business in this country again.

Think outside the box and stop favoring Big Corporations and Big Money!!

[velma179]

by Midwest71 November 28, 2009 5:07 PM EST

Wow.

I pretty much agree with you (I think Summers and Geithner have gotten an only partially deserved bad rap... just my opinion) -- and I will be one of the people who has a tax increase in your plan. Bring it on ... there are plenty of us who would be affected who don't live beyond our means and will survive just fine, more than just fine actually.

The taxing and charging [fees] stuff you say is, unfortunately, in the purview of Congress. While Mr. Obama has the final signature, they have the purse strings.

I especially like your "spirit", Midwest171 -- it is as American as the center of our country where you take your name...

Gung ho... let's go. Damn the naysayers, America -- do the job!

Cool.

[lakota2012]

by Midwest71:
Tax those making $200k or greater more now. They've had it easy for too long. From WW II into the 1960's tax rates for the wealthy were 90%. Corporations now pay little in taxes with all the loopholes they have, plug the loopholes.

Think outside the box and stop favoring Big Corporations and Big Money!!
===============================================





Exactly.....borrowing money to wage war while letting our infrastructure crumble is insanity.

Since BIG BIZ has so much MONEY to pay lobbyists and run ads to sway public opinion, they definitely need to be taxed more like the rich!

[BeckieBest]

I think it will be decades before Republicans are able to win back any credibility on economic issues.

After bringing us Bush, two endless wars, an 11 trillion dollar deficit, and the worst recession since the Great Depression, they need bring new ideas to the table if they're going to be taken seriously.

They could start by looking with humility at and taking responsibilty for the damage they've caused this country.

[american_11-2009]

California the Golden state, American future, is fast becoming the poster child for an bankrupt third world State!

An unholy alliance of Socialist Democrat politicians, Unions, and Illegal Aliens supporters are feasting at the trough of tax payers paid benefits while taxing & regulating business and the tax paying public into poverty.

The pandering of Left Wing Democrat Politicians to their constituency of Unions, Illegal Aliens and open border supporters, are driving business and citizens to other states & countries, while leaving the parasites & welfare leeches in an increasing bankrupt, crime ridden, dysfunctional state!

For years California has ignored economics 101 and imported Criminals, Uneducated Peons, and poverty from Mexico, which increased Medical, Welfare, Crime, Prison, etc. & adding a estimated 10 to 16 billion per year to Calif. State expense to support the invading horde of Illegal Aliens while exporting business and educated tax payers.

Like all Socialist countries the results have been a astronomical increase in social welfare, schooling, prison cost etc. and a lowing of Living standards, Education standards, Tax receipts & finally Bankruptcy.

Failure to abide by our Constitution against invasion & enforce our Immigration laws and constraints on wages and benefits for public employees will result in turning the Golden State into MexiCalif and the end of the Calif. Dream and the beginning of the MexiCalif. Nightmare!

The policies of Obama and Wash. DC Democrats are intent on following Calif. policies and Pro-Illegal Aliens and Anti-tax paying citizens and are endorsing the same socialist process of rewarding the Corrupt, Stupid, Foolish, Lazy, Greedy & Criminal while punishing the responsible, honest, & hard working citizens of American.

Amnesty & Citizenship as a reward for their invasion of the USA, will result in the rest of the USA turned into a Spanish speaking third world cesspool and follow California into a polluted, over populated, Spanish speaking, third world Nation of Crime, Corruption, Poverty, Cruelly & Misery modeled on Mexico!

This will result in a population depending on Welfare and the Democrat party, thus assuring the lock on power for the Socialist Democrat party of the United States of Mexico!

[velma179]

by american_11-2009 November 28, 2009 3:09 PM EST

This is probably the third time in several weeks..months?... I have seen this exact post.

If you are going to copy and paste somebody's OPINION (read: Full-on Dire Prediction 101 baloney) -- please at least attribute the commentary to it's author.


If you ARE the author... oh well. It's still nothing but speculation based on VERY biased assessments of America and California.

Posting crap over and over doesn't make it true.

[bcpats]

Beckiebest, velma, and other Bush-bashers - - you are still blaming Bush - - get over it ! ! ! !
If George W. Bush had been the first President to need a teleprompter installed to be able to get through a press conference, would you have laughed and said this is more proof of how inept he is on his own and is really controlled by smarter men behind the scenes?

OR had spent hundreds of thousands of dollars to take Laura Bush to a play in NYC, would you have approved?

OR had reduced your retirement plan's holdings of GM stock by 90% and given the unions a majority stake in GM, would you have approved?

OR had made a joke at the expense of the Special Olympics, would you have approved?

OR had given Gordon Brown a set of inexpensive and incorrectly formatted DVDs, when Gordon Brown had given him a thoughtful and historically significant gift, would you have approved?

OR had given the Queen of England an iPod containing videos of his speeches, would you have thought this embarrassingly narcissistic and tacky?

OR had visited Austria and made reference to the non-existent "Austrian language," would you have brushed it off as a minor slip?

OR had filled his cabinet and circle of advisers with people who cannot seem to keep current in their income taxes, would you have approved?

OR had mis-spelled the word "advice" would you have hammered him for it for years like Dan Quayle and potatoe as proof of what a dunce he is?

OR had burned 9,000 gallons of jet fuel to go plant a single tree on Earth Day, would you have concluded he's a hypocrite?

OR his administration had okayed Air Force One flying low over millions of people followed by a jet fighter in downtown Manhattan causing widespread panic, would you have wondered whether they actually get what happened on 9-11?

OR had failed to send relief aid to flood victims throughout the Midwest with more people killed or made homeless than in New Orleans, would you want it made into a major ongoing political issue with claims of racism and incompetence?

OR had created the position of 32 Czars who report directly to him, bypassing the House and Senate on much of what is happening in America, would you have approved?

OR had ordered the firing of the CEO of a major corporation, even though he had no constitutional authority to do so, would you have approved?

OR had proposed to double the national debt, which had taken more than two centuries to accumulate, in one year, would you have approved?

OR had then proposed to double the debt again within 10 years, would you have approved?

So, tell me again, what is it about Obama that makes him so brilliant and impressive? He's done all this in his short time in office. So now you'll have 'til 2010 to come up with an answer.

[velma179]

Excuse me bcpats... I don't recall ever "bashing Bush".


And any of the things you mention that Obama has actually done (a few are factual...) -- well, if the guy/girl doing them was ANYBODY with the title President [of the United States] before his/her name...

I'd let the small crap slide and continue to support the principles I always support -- no matter WHO is POTUS!



*****************
By the way, I couldn't let this one slide.

"OR had proposed to double the national debt, which had taken more than two centuries to accumulate, in one year, would you have approved?"

For your edification:

Natl Debt Figures

Historical Debt from US TreasuryDirect:

(Note: in Fiscal Years -- beginning of October to end of September, following year)


09/30/2009 11,909,829,003,511.75
09/30/2008 10,024,724,896,912.49
09/30/2007 9,007,653,372,262.48
09/30/2006 8,506,973,899,215.23
09/30/2005 7,932,709,661,723.50
09/30/2004 7,379,052,696,330.32
09/30/2003 6,783,231,062,743.62
09/30/2002 6,228,235,965,597.16
09/30/2001 5,807,463,412,200.06
09/30/2000 5,674,178,209,886.86


The facts fly in the face of your comment... it makes you look like you don't know what you are talking about. Please try to get on the side of truth...thanks.

[lakota2012]

by velma179:
==========




Another copy and paste without credit job velma, apparently just another rabid rightwad unable to 'think' for themselves.

Email: "What if George Bush?"
September 17, 2009 4:10 pm ET
The following email has been widely forwarded. Media Matters Action Network has written a response to the text below.

http://mediamattersaction.org/emailchecker/200909170030





Looks like just another copy and paste job from the rabid rightwads that don't have an original thought, and then cannot give the original poster the credit. Gotta love the forwarded e-mails like this from another AOL poster, LTG Nathan Bedford Forrest
http://messageboards.aol.com/aol/en_us/articles.php?boardId=535768&articleId=684501&func=6&channel=Member+Guided+News&filterRead=false&filterHidden=true&filterUnhidden=false

[BeckieBest]

Since when did Republicans have any credibility on economics?

If they knew how to run the economy, we wouldn't be in 11 trillion in debt and we wouldn't be in the worst recession since the great depression.

If they knew how to run our foreign policy we wouldn't be stuck in two endless wars that are draining our country of blood and money.

8 years of following failed Republican ideas is enough.

[ianlou]

"The way to stimulate this economy and help working families is to let Americans keep more of their hard-earned money, not taking more from their wallets," he said. "Republicans have proposals to get our economy moving again, to achieve energy independence and lower the cost of health care.""
*************************
It amazes me how Republicans propose better ways to achieve necessary goals they had no interest even addressing when they had complete control of Washington during most of the Bush years.

Republican Statement: "The way to stimulate this economy and help working families is to let Americans keep more of their hard-earned money"

Reality: Average middle class incomes shrank, while the rich got much richer, during GOP control, period

Republican Statement: ...we need to achieve energy independence...
Reality: There are better ways to achieve energy independence than Drill babby drill, and bomb bomb bomb, bomb bomb Iran and Iraq.
Alternative energy was a non-starter during GOP control.

Republican Statement: "lower the cost of health care"
Reality: During the Bush years, the GOP could care less about lowering the cost of health care, they did nothing since torpedoing Clinton's attempts to solve this problem back in the 90's.

If or when the GOP is in charge again, the finacial health of average Americans, energy independance, and affordable Heathcare will fall off their list of priorities as quick as they always have.

Either Obama and the Dems get it done or it won't get done.
This fact, however will not slow the GOP from giving lip service to issues they would rather ignore.

[american_11-2009]

Meantime, with 15 million Americans without jobs, & Millions more working temporary & part time jobs, The invasion continues no Liberal Politician will address the 500 pound gorilla in the room, and millions of invading, plundering, welfare loving, prolific breeding, Illegal Aliens taking millions of jobs that should be American jobs and 100,s billions of dollars in social services that should be for American citizens!

One cannot be political correct and admit that Illegal Aliens are an large part of the problems in this Nation.

Their negative impact extends to every area from Sub-par loans & defaults, Underground economy, Massive document fraud, Lower standard of living, Crime, Overflowing prisons , Bankrupted hospitals, Failing schools, Property Taxes, Insurance costs, Environment, Culture, Welfare costs, Welfare fraud, SS fraud, Voter fraud, Disrespect for our laws & country, our Constitution against invasion and even Balance of payments occurring from oil and other imports to support the 20 to 30 million illegal aliens in this country!

One has to only look at Calif. which is basically mostly an Spanish speaking, Bankrupt state that cannot afford to provide Welfare, Schooling, Medical, Prison cells etc. for millions of MS-13 Gang bangers, Drug dealers, Rapist and other assorted Criminals and uneducated, Prolific breeding, third world rejects from Mexico!

In a very few years it will be impossible to see where Mexico ends and Calif. begins as both will be an third world cesspool!

Failure to secure our borders and reward the Invading horde for their invasion and their relatives in an never ending chain with American Citizenship is nothing less than committing National Suicide & will assure our future is an over populated Spanish speaking third world Nation that is an Cesspool of Corruption, Crime, Poverty and Misery modeled on Mexico!

[lakota2012]

by brian1920:
Republicans for years were guilty of serious financial misconduct in spending more money and increasing the deficit.
The real answer is to lower taxes on companies, giving credits for employing more people...
==========================================







Typical highly-partisan conservative that cannot 'think' outside the box, demonizing the usual groups while pushing the same failed policies and ideology that gave us the bush/cheney Great Recession of 2007-2009.

Our $13.7 Trillion economy was based on excessive consumption and a real estate bubble until early 2008, fueling the huge growth in "Chindia" while inflating the domestic real estate market with non-existent regulation, oversight and accountability. This not only brought our financial market to its knees through unfettered capitalism, but also those consumers with negative savings that didn't plan for the "rainy day." It certainly didn't take long for businesses so used to the out-of-control spending spree by consumers to see their shelves full of goods and no sales. Corporate America has been laying-off millions of Americans while shipping jobs to 3rd world countries, small businesses have been closing their doors and consumers have closed their wallets if they're lucky enough to still have a job and income.

The bush/cheney Great Recession of 2007-2009 is the worst economic catastrophe since the Great Depression, and "old school" republiCON tricks of tax cuts will not work, just like the failed bushie "Jobs and Growth" package of 2003, which gave us the first JOBLESS RECOVERY in our country's history. With interest rates at rock bottom and consumers and businesses not spending, the government had to step in with a stimulus to jumpstart our economy, although it was too small, it has still taken us from quarters of negative growth to positive territory.

Unfortunately, the 21st century global economy does not respond to the OLD republiCON dog and pony show of the 20th century, and any of you "born again" fiscal conservatives should drop your bag of "old tricks" and completely understand that new policies and ideology are needed in today's world. Those bushie tax cuts in 2001/2003 only fueled job growth in "Chindia," not America, and we need a new strategy for the 21st century -- not OLD republiCON smoke and mirrors!