Posted on 02/04/2009 9:16:46 AM PST by NormsRevenge
President Obama sent a clear message to corporate executives and Republicans opposing his stimulus plan — he's in charge.
In sternly worded remarks from the Grand Foyer of the White House Wednesday morning, Obama decried excessive executive bonuses and severance packages as "the height of irresponsibility," and he announced that he is capping compensation for executives who receive "extraordinary help" from the federal government at $500,000.
"For top executives to award themselves these kinds of compensation pacakages in the midst of this economic crisis is not only in bad taste, it's a bad strategy, and I will not tolerate it as president," Obama said.
Furthermore, additional bonuses can only come in the form of stock that can't be cashed in until taxpayer assistance is repaid, and companies receiving help will have to disclose all their "perks and luxuries."
"We're taking the air out of the golden parachute," Obama said.
The president also sent notice to Republicans on Capitol Hill that they should act quickly on his stimulus package, saying that he has "heard the criticisms of this plan that echo the very same failed theories that helped lead us into this crisis — the notion that tax cuts alone will solve all our problems."
"I reject that theory, and so did the American people when they went to the polls in November and voted resoundingly for change," the president said.
The bell for Round 1 rings.
Kaa-CHinnng!
That doesn't sound like he's seeking bipartisan compromise. What a Commie putz.
Obama’s wife made what...$300,000?? For doing what??
“We’re taking the air out of the golden parachute,” Obama said.
—
This I got to see.
Some should be used to help potential cabinet members and appointees to do their taxes, others to find out what happened to the first $350B given to the banks, at least a few to have vigilant auditing of the Secretary of State's husband's foreign income, and still others to audit the Obama Campaign's unprecedented $750M war chest.
We need a cap on Campaign Fundraising for Presidential candidates.
The Republicans need to pound 0bama mercilessly over all the pork. MERCILESSLY!
“It’s good to be the King!” - Barack Hussein “I Won” Obama
Good point....BTW..at the rate Zero’s going, GOP may be a lock to retake the House in 2010
I guess Bambi doesn’t get the separation of powers concept. He is President, but he doesn’t get to call the shots with the Legislature.
The dictator has spoken.
“”I reject that theory, and so did the American people when they went to the polls in November and voted resoundingly for change,” the president said.”
How many times does a President have to say “I won”? Because he is wording it differently, but that is the message in this sentence to the Republicans. He just parsed his words instead of bluntly stating “I won”.
Don’t underestimate the GOP’s ability to snatch defeat from the jaws of victory.
She made $300,000 for being his wife. The hospital did away with her position.
The stimulus bill passes tomorrow whether Republicans like it or not simply by having a vote in the Senate and House. Get YOUR party to stand behind you on this bill and lead the way Mr. President!!!
Whatta dork.
“Obama’s wife made what...$300,000?? For doing what??”
Pay for play.
Folks if you put caps on executive pay, company travel, entertainment etc. it is going to trickle down to the restaurant, hotel, and spas etc. As a result these businesses are going to have problems as will other businesses that supply them. Somebody is not thinking this true. This is what happens when governments interrupt the natural flow of things. I remember a few years ago when they put an excise tax on yachts and as a result sales fell through the floor and many of these businesses had to close.
Somebody explained that accepting this money essentially brought these companies under the power of the Treasury Department - which is part of the Excutive Branch. Therefore, the legislature never even gets involved.
NO PRESIDENT URKLE...THE PEOPLE ARE IN CHARGE. YOU WORK FOR US YOU MORON!
He’s such a poor sport....
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