January 8, 2009: Obama sounds economic warning (Politico)

  • “Our government has already spent a good deal of money, but we haven’t yet seen that translate into more jobs or higher incomes or renewed confidence in our economy,” he said. “The true test of the policies we’ll pursue won’t be whether they’re Democratic or Republican ideas, but whether they create jobs, grow our economy, and put the American Dream within reach of the American people.”
  • That is why we need to act boldly and act now to reverse these cycles. That’s why we need to put money in the pockets of the American people, create new jobs, and invest in our future. That’s why we need to re-start the flow of credit and restore the rules of the road that will ensure a crisis like this never happens again.
  • I understand that some might be skeptical of this plan. Our government has already spent a good deal of money, but we haven’t yet seen that translate into more jobs or higher incomes or renewed confidence in our economy. That’s why the American Recovery and Reinvestment Plan won’t just throw money at our problems – we’ll invest in what works. The true test of the policies we’ll pursue won’t be whether they’re Democratic or Republican ideas, but whether they create jobs, grow our economy, and put the American Dream within reach of the American people.
  • It is time to set a new course for this economy, and that change must begin now. We should have an open and honest discussion about this recovery plan in the days ahead, but I urge Congress to move as quickly as possible on behalf of the American people. For every day we wait or point fingers or drag our feet, more Americans will lose their jobs. More families will lose their savings. More dreams will be deferred and denied. And our nation will sink deeper into a crisis that, at some point, we may not be able to reverse. Related Searches: unemployment rate wall street Recommend Buzz Up Send Email IM Share Digg Facebook Newsvine del.icio.us Reddit StumbleUpon Technorati Yahoo! Bookmarks Print (function() { /** * YUI function to get all elements by class name * getElementsByClass */ function getElementsByClass(className, tag, root) { tag = tag || ‘*’; root = (typeof root == ‘string’) ? document.getElementById(root) : root || document; var nodes = [], elements = root.getElementsByTagName(tag), re = new RegExp(‘(?:^|\s+)’ + className + ‘(?:\s+|$)’); for (var i = 0, len = elements.length; i defaultHeight) { // if primary exists then use that height, otherwise use related var obj = getElementsByClass(‘primary-media’,’div’,related)[0]; if (!obj) obj = related; // set height from primary or related container minHeight = parseInt(obj.offsetHeight, 10); // if the minheight is smaller than default, then set it to default if ( (minHeight heightLimit) { // set overflow and height bd.style.height = minHeight + “px”; bd.className += ” overflow”; story.className += ” read-closed”; // add read more expand button var div = document.createElement(‘div’); div.className = ‘read-more read-more-expand’; div.innerHTML = ‘Read Full Article’; // we have to handle the case where a user might click the button before our YUI script loads // if so, remove the height and overflow setting then hide the button, also add #full hash to url so // if script eventually is loaded it doesnt recreate the buttons and collapse the story div.onclick = function(ev) { var e = ev || window.event; // show full story bd.style.height = ‘auto’; bd.className = bd.className.replace(‘overflow’,’expanded’); story.className = story.className.replace(‘read-closed’,”); // hide the toggle button div.className += ’ hide’; // disable link follow if (e.preventDefault) { e.preventDefault(); } else { e.returnValue = false; } } // add div to document bd.appendChild(div); } }})(); More on Barack Obama Obama urges spending jolt to avert 'severe' recession AFP Obama warns of dire consequences without stimulus AP Obama unveils $1000 tax cut, energy efficiency plan Reuters More… Video: Local teen to witness inauguration WRAL Raleigh Video: History Lesson? FOX News Video: Changes Ahead? FOX News Most Viewed - Politics Obama warns of dire consequences without stimulus AP Bush headed to Midland, Texas, after presidency AP Obama hails ‘extraordinary’ moment with presidents AP Nissan recalling more than 240,000 trucks AP Congress meets to count electoral votes AP All Most Viewed » Most Blogged - Politics Obama Promises Bid to Overhaul Retiree Spending New York Times – Wed Jan 7, 7:09 pm EDT Blogs About This Story (23) Prev Next China Losing Taste for Debt From the U.S. New York Times – Wed Jan 7, 6:14 pm EDT Blogs About This Story (23) Prev Next Obama says stimulus proposal could grow MSNBC – Wed Jan 7, 3:25 pm EDT Blogs About This Story (11) Prev Next More From Pressing for stimulus Gupta vs. pot Another GOP retirement Dowd and Geffen, full circle Three envoys Subscribe Add headlines to your personalized My Yahoo! page (About My Yahoo! and RSS) Elections - Politico Add to My Yahoo! RSS Politics - Barack Obama Add to My Yahoo! RSS Presidential Elections Add to My Yahoo! RSS More News Feeds » Alerts Get an alert when there are new stories about: unemployment rate Wall Street Add Selected Alerts View More Alerts » Also on Yahoo! News Today in History Obituaries Corrections News by Region (Yahoo! Directory) Yahoo! News & Media Sites Daily Features All Comics » Opinions & Editorials: Diverse views on news from the right, left, and center. All Opinion » Photo Highlight Photo Highlight Slideshow

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