Obama Calls for 'Grand Bargain' on Economy: 'Everybody's Going to Have to Give'

ABC News ^ | January 10, 2009 | George Stephanopoulos

[Perdogg]

Obama lied, the economy died.

[Xenophon450]

"Our challenge is going to be identifying what works and putting more money into that, eliminating things that don’t work, and making things that we have more efficient."

Hiring Government bureaucrats to decide the most efficient ways to allocate capital?

Yes, it does sound stupid once spoken aloud.

[VeniVidiVici]

Everybody’s going to have to have some skin in the game," Obama said.

There's that intellect shining through again.

If Dumbo could ever get specific about anything, I'd faint.

[Travis McGee]

[Nachum]

Does this mean everybody is going to have to give “a grand” and then call it a “bargain”?

[DeaconBenjamin]

WASHINGTON — As the ranking Democrat and then chairman of the House Budget Committee, Representative John M. Spratt Jr. of South Carolina accused President Bush for eight years of recklessly running up huge fiscal deficits.

But by noon on Wednesday, after listening for two hours as economists explained why it was crucial to run a large deficit — one that would triple the previous record and vault far above $1 trillion — Mr. Spratt looked shell-shocked.

Lingering in his chair as the cavernous hearing room emptied, he stared into the distance and gave vent to his concerns.

“The thing I wanted to ask,” he said, “was if there was some limit which we should be wary of? Is there some limit in terms of how much borrowing and debt creation we should take on?”

For the moment, the answer is no. The Congressional Budget Office predicted on Wednesday that the federal deficit would balloon to $1.2 trillion this year — even before Democrats pass an economic stimulus bill that could cost an additional $1 trillion spread over this year and next.

A Crisis Trumps Constraint

[VeniVidiVici]

...-how Obama is preparing for his Inaugural Address and his search for a church in Washington.

I'm sure there are plenty of 'Hate Whitey' churches in Washington D.C. to chose from.

[Sarah Barracuda]

Were all screwed aren’t we? Should I take my money out of the bank now? Everyone is gonna have to give, wait, I thought 95 percent of us are gonna get a tax break, now its everyone is gonna have to give. Yeah like I believed that for a second, the drones who voted for him, their taxes are gonna go up, welcome to the Carter years times 2

[Eva]

I think that Obama lied. Soros led and the economy died. I think that the plan to tank the economy predated the rise of Obama. Obama is just the face of evil. Someone else is the thinker behind it all.

[tomkat]

FU Ø

Bad karma's a true bitch,
and damned hard to avoid

sic semper tyrannus

[PaleoBob]

Teh fact that he’s a bald-faced liar and always has been is the stuff of ho-hum. That so many BELIEVED his jive is the real problem.

[CurlyDave]

The Messiah will impose a Means Test on Socialable Security to make sure RICH WHITE PEOPLE don’t take money they don’t need. That will leave more for his homies.

I hope he does.

That is one thing that will insure he is a one-term President.

How many of his homies belong to AARP?

[kb2614]

the president-elect told me that fixing our economy over the long term will require sacrifice from every American and scaling back some of his campaign promises.

Y-yy-you mean there will be no unicorns after all????
curls in fetal position and wimpers

[DBrow]

Ah know Ah focused on it in the 18 months of ma campaign, and last night ah worked as hahd as I evuh had in ma life, but the economy is so bad now that ah just caint find a way to give you that middle class tax cut I promised over and over...”

Bill Clinton, 1993

Obama’s solution will be no rich people or middle class, just poor people dependent on government for food, housing, medical care, and defense.

[VeniVidiVici]

Everyone is gonna have to give, wait, I thought 95 percent of us are gonna get a tax break,

What's going to happen is the people that don't pay taxes are going to get relieved of paying payroll taxes. That will be Dumbo's "tax cut". The entitlement recipients will have to forgo their full 12% increase in benefits this year and only receive an 11% increase. Dumbo will call this 1% reduction in spending a "cut" and that will be the only pain felt by this group.

Then there are the rest of us that pay taxes and play by the rules. We'll be asked to "give back" our tax cuts and have our taxes increased. That's our pain. Or rather, our cross to bear.

[wastedyears]

Vomit carnage alert

[cherry]

barry lied and the msm let his get away with it....

the Rats caused the current fiscal mess and they also pushed thru the first stinking bailout for God only know WHO got it.....now a second and larger bailout.....

I hold barry and the rats responsible for all of it...

I WANT MY TAX CUT AND I WANT IT NOW!

[FocusNexus]

"Many of you are well enough off that the tax cuts may have helped you. We're saying that for America to get back on track, we're probably going to cut that short and not give it to you. We're going to take things away from you on behalf of the common good. "

-- Hillary Clinton, June 28, 2004

[cherry]

as ususal, the ones paying SS and Medicare taxes will get the shaft again....and still not get what they've paid in....

if they extend the age for receiving benefits OR raise the taxation rate, then I say that ALL SS should be indexed NOW...for those presently getting it.....

I am tired of being the slice of the boomer generation to be too late for any of the good stuff....

[Dallas59]

...where everybody in the country is going to have to sacrifice something...

Screw you Hussein. I'm not giving anything up for your arse.