Obama says aiding economy trumps budget deficit (Then what was the beef with President Bush?)

reuters ^ | 11/16/2008 | Jeff Mason

[tobyhill]

The United States government should not worry about deficits over the next two years while spending money to jumpstart the ailing economy, President-elect Barack Obama said in a television interview that aired on Sunday.

Obama, a Democrat who takes over from President George W. Bush, a Republican, on January 20, said consensus had emerged between economists in both major U.S. political parties that expensive measures were necessary to avoid a deep recession.

"The consensus is this, that we have to do whatever it takes to get this economy moving again, that we have to -- we're going to have to spend money now to stimulate the economy," he told the CBS television network's 60 Minutes news program.

"And (consensus is) that we shouldn't worry about the deficit next year or even the year after; that short term, the most important thing is that we avoid a deepening recession."

During his presidential campaign Obama pledged to fund all of his policy proposals, but the severity of the economic downturn has made balancing the budget a low priority as the government takes measures to stimulate economic growth.

Obama said the $700 billion bailout bill passed by the U.S. Congress had helped stem the financial crisis, even though the $300 billion already spent may not have had visibly positive effects.

[SMCC1]

FDO...who ever came up with that was accurate. Lol

[FlingWingFlyer]

Looks like we’re in for an Obamarama Spend-a-thon!

[whitedog57]

Obama’s friends must be salivating!! Unions, ghetto hustlers, etc. Dancing in the streets!!!!! Reparations come in many forms, none better than minority contractors making millions off of Uncle Sam!!

[traditional1]

“The Economy” will be the excuse for the tax and spend spree to pay off all the backers and the free-loaders who put this ass-hat in the White House (even though not qualified as a non-Natural Born Citizen).

[Sunnyflorida]

“The consensus is this, that we have to do whatever it takes to get this economy moving again, that we have to.”

Then lower business taxes.

[TomasUSMC]

The first Gay President shows he is lacking in any courage to stand up to anyone or anything that requires independence of thought.

[Texas Eagle]

During his presidential campaign Obama pledged to fund all of his policy proposals, but the severity of the economic downturn has made balancing the budget a low priority as the government takes measures to stimulate economic growth.

The more things "change" the more they remain the same.

[EagleUSA]

Then lower business taxes.
::::::::::
Surely, you jest. Actually, power is more important than the economy to these “people”. They will make moves, in the name of “fixing the economy” to take your wealth. My ole drinking buddy, Karl Marx, knew all about this..... :-)

[goodnesswins]

OH...wow...this is going to be FUN....NOT....well, fun watching this idiot kill our country....but, I expect it will happen quickly, as we’ve already got a good start....

[nmh]

No! No! No!

Wave the white flag an FLEE IRAQ!

You promised Barrack Hussein Obama.

Plus you promised to release all the Gitmo terrorists and give them a fair trial.

And what about these people?

http://www.youtube.com/watch?v=6DrA2G1TCrQ

[PhiKapMom]

So under Pres Bush the Dems said the deficit was the most important item that needed to down to zero with no deficit and now Obama is elected, the same people say it is no longer a problem and the can increase the deficit with no problem?

Are the homeless going away as well?

This has been a bizarre election from Day One and nothing seems to be changing to make it less bizarre.

[Malesherbes]

CNBC reports that we have already appropriated $ 3.8 trillion for bailouts. The country’s total annual GDP is about $ 14 trillion. And now BO who has never had a real job in his life is in charge of the money.

[Gary Johnson in 2012]

The United States government should not worry about deficits over the next two years while spending money to jumpstart the ailing economy, President-elect Barack Obama said in a television interview that aired on Sunday.

Are we EVER going to have a balanced budget again? No matter how much Washington taxes American citizens, they keep producing budget deficits. Obama is basically already admitting he'll produce more deficits despite his impending tax increase.

Can we please get a Constitutional amendment to require a balanced budget already?

[mrsmel]

And whheeeee, here we go.

[Gary Johnson in 2012]

Looks like we’re in for an Obamarama Spend-a-thon!

So we'll probably not notice any difference from the previous eight years?

[Jeff Head]

Sounds like Obama's plan is to fix it by bankrupting it.

Some real heavy duty financial planning going on there, unless of course, that is the intention all along. Tear it down and build it back as something entirely different. The old Order out of Chaos tyrants way of thinking.

Reagan, OTOH, meant to save our free market and financial institutions and employed a plan that actually worked, and in a worse condition. He lowered taxes and stimulated the economy by turning it loose.

It fixed itself, and then provided, at the lower rate, much higher tax revenues.

Many more sticker designs here.

[Arizona Carolyn]

What a mess... get ready to take our money to the store in barrels.

[savedbygrace]

Obama will be Puppet President. Rahm Emanuel will be the real President.

[Son House]

Yes, where is cut the taxes and cut the spending? Tax cuts from Bush increased revenue to a record $2.15 Trillion in 2005;