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By DAVID ESPO, AP Special Correspondent David Espo, Ap Special Correspondent 1 hr 42 mins ago
WASHINGTON – President Barack Obama warned on Thursday that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.
In an op-ed piece in The Washington Post, the president argued that each day without his stimulus package, Americans lose more jobs, savings and homes. His message came as congressional leaders struggle to control the huge stimulus bill that's been growing larger by the day in the Senate. The addition of a new tax break for homebuyers Wednesday evening sent the price tag well past $900 billion.
Senate Democratic leaders hope for passage of the legislation by Friday at the latest, although prospects appear to hinge on crafting a series of spending reductions that would make the bill more palatable to centrists in both parties.
Obama painted a bleak picture if lawmakers do nothing.
"This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse," Obama wrote in the newspaper piece titled, "The Action Americans Need."
He rejected the argument that more tax cuts are needed in the plan and that piecemeal measures would be sufficient, arguing that Americans made their intentions clear in the election.
"I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change," he wrote.
To say that I was uncomfortable with the way this is being shoved down the American people's throat would be the understatement of the year!! This "DO IT NOW, OR ELSE" sends up real red flags for me !!
I remember the liberals claiming that Republicans were scaremongering us into a war. heheheheI have student loans, I wonder if they can be part of the "Oh no were going to die if this is not passed bill".
I think any time some politician says that it is urgent we pass this as soon as possible, they are lying.It is a scare tactic attempt to sucker voters into harassing their politicians to passing this so quickly that we do not notice the pork and other unrelated spending and that we do not know whether or not we really need this. Just look at the 700 billion plus bailout Bush claimed we urgently needed. California,the auto industry and others were standing in line wanting a bailout.
What the hell are you talking about, it's Bush's fault that Obama has to push this damn thing through in a matter of days.Yes, he did BUT it ain't his baby,anymore !! I was NEVER for a bailout. IMO, I think it will come back to bite.
What the hell are you talking about, it's Bush's fault that Obama has to push this damn thing through in a matter of days.
More fearmongering from the right...
Obama warns of need for stimulus bill right away - Yahoo! News* Economic Stimulus Plan Slideshow: Economic Stimulus Plan
* Tapper on Obama's Executive Salary Cap Play Video Video: Tapper on Obama's Executive Salary Cap ABC News
* Obama: 'time for action is now' Play Video Video: Obama: 'time for action is now' AP
Obama imposes 500,000-dollar bailout salary cap AFP – US President Barack Obama speaks regarding executive compensation in Cross Hall at the White House in …
WASHINGTON – President Barack Obama warned on Thursday that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.
In an op-ed piece in The Washington Post, the president argued that each day without his stimulus package, Americans lose more jobs, savings and homes. His message came as congressional leaders struggle to control the huge stimulus bill that's been growing larger by the day in the Senate. The addition of a new tax break for homebuyers Wednesday evening sent the price tag well past $900 billion.
OMG, you're frothing again. Bye.Does anybody else get the feeling that Obama is really Bush Lite?
OMG, you're frothing again. Bye.
Does anybody else get the feeling that Obama is really Bush Lite?
| Moderator's Warning: |
Moderator's Warning:
I was expecting "change" -- weren't you?Thank you Obama, you've once agained show that "Politics of Fear" is not a term exclusive to any side of the political spectrum.
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