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Obama: Catastrophe coming if Congress doesn't act
Breitbart ^ | 2/4/09 | ANDREW TAYLOR

Posted on 02/04/2009 11:27:21 AM PST by xtinct

President Barack Obama speaks about executive compensation, Wednesday, Feb....

President Barack Obama speaks about executive compensation, Wednesday, Feb....

President Barack Obama leaves the stage in the Grand Foyer of the White...

WASHINGTON (AP) - Republicans tried to push back against the ballooning size of President Barack Obama's economic recovery plan Wednesday, even as he warned that the financial crisis will turn into "a catastrophe" if the bill isn't passed quickly. Obama summoned centrist senators to the White House Wednesday afternoon to discuss a plan to cut more than $50 billion in spending from the measure, which breached the $900 billion barrier in the Senate on Tuesday and appears headed higher.

Republican Sens. Susan Collins and Olympia Snowe of Maine, as well as Ben Nelson, D-Neb., have tentatively agreed to cutting more than $50 billion from the bill, a Nelson spokesman said, though details weren't yet available.

Their effort is central to building at least some bipartisan support for the bill, which has come under increasing attack for too much spending unrelated to jolting the economy right away.

Obama indicated he's amenable to changes.

"No plan is perfect, and we should work to make it stronger," Obama said at the White House Wednesday. "Let's not make the perfect the enemy of the essential. Let's show people all over our country who are looking for leadership in this difficult time that we are equal to the task."

The cost of the plan expanded past $900 billion after the Senate on Tuesday added money for medical research and tax breaks for car purchases. An effort to add $25 billion more for infrastructure projects—which narrowly failed to advance—is likely to be revived.

The cost could go higher Wednesday if a tax break for homebuyers is made more generous.

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Extended News; Government; News/Current Events
KEYWORDS: bho2009; bhoeconomy; bhostimulus; congress; democrats; economy; hogzillaonroids; obama; porkulus; stimulus; stimulusbill
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Obama is such a pompous jerk...
1 posted on 02/04/2009 11:27:21 AM PST by xtinct
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To: xtinct

This is just his way of trying to point the finger at Republicans who don’t vote for his huge heist of taxpayer money.


2 posted on 02/04/2009 11:28:35 AM PST by mrsmel (Put the Gitmo terrorists near Capitol Hill.)
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To: xtinct
It already came.

Jan 20 2009.

3 posted on 02/04/2009 11:28:51 AM PST by ClearCase_guy
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To: xtinct

I’ve heard this tune before ... thought it was bulls**t then.

“Democrat Obama warned it would be “catastrophic” if a (bailout) deal isn’t reached soon.” — Associated Press Published: September 30, 2008


4 posted on 02/04/2009 11:29:16 AM PST by mgc1122
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To: xtinct

The catastrophe is already here and is name is Obama.


5 posted on 02/04/2009 11:29:26 AM PST by LottieDah (If only those who speak so eloquently on the rights of animals would do so on behalf the unborn)
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To: xtinct
Obama is the Catastrophe!
6 posted on 02/04/2009 11:29:30 AM PST by divine_moment_of_facts
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To: xtinct

Seems to me I’ve heard this before from Paulson. Gotta admit, it sure saved Wall Street’s bonus season.


7 posted on 02/04/2009 11:29:30 AM PST by Wolfie
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To: xtinct

I’m sick of hearing his voice.


8 posted on 02/04/2009 11:29:55 AM PST by Eric in the Ozarks
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To: xtinct
RE: The Headline... exactly what Bernanke, et. al. were screaming about last fall, when they panicked Congress into throwing $750 Billion up into the air, to see if it would help.

We still don't know what was done with the first half of that money, but we DO know that it wasn't spent as advertised.

9 posted on 02/04/2009 11:30:01 AM PST by willgolfforfood
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To: xtinct

If Congress acts without careful consideration of what it’s doing, catastrophe is more likely.


10 posted on 02/04/2009 11:30:01 AM PST by popdonnelly (The problem with Obama is that he believes his own hype.)
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To: mrsmel

The sky is falling, the sky is falling.

The catastrophe will be if we wait long enough, the economy will start to recover on it’s own and Obama’s CHANGE will be defeated.


11 posted on 02/04/2009 11:30:04 AM PST by Eva (CHANGE- the post modern euphemism for Marxist revolution.)
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To: mrsmel

Catastrophe coming if congress passes this monstrosity.


12 posted on 02/04/2009 11:30:10 AM PST by Conservativegreatgrandma (When the righteous rule, the people rejoice; when the wicked rule the people mourn. Proverbs 29;2)
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To: xtinct

Just Obama’s way of trying to save face by putting pressure on Congress. Ridiculous. Even OBAMA hasn’t read the whole thing but we should RUSH in spending close to a $1,000,000,000,000?

Give me a break.


13 posted on 02/04/2009 11:31:14 AM PST by Personal Responsibility (Republicans believe every day is July 4th . Democrats believe every day is April 15th ~ Reagan)
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To: xtinct
To the contrary - catastrophe will happen if congress DOES act. In fact, it will be worse if they act.

Hang on to your wallets, taxpayers - this is going to be really ugly.

14 posted on 02/04/2009 11:31:39 AM PST by meyer (We are all John Galt)
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To: xtinct
The catastrophe has already come and it is him.
15 posted on 02/04/2009 11:31:40 AM PST by boomop1
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To: xtinct

Even Mika Brezinski says thats BS. And that tells you something...


16 posted on 02/04/2009 11:32:09 AM PST by Badeye (There are no 'great moments' in Moderate Political History. Only losses.)
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To: xtinct

Catastrophe struck Jan 20. We are doing the best we can to do damage control. Which consists of saying NO NO and NO once again.

It’s a bummer to think you’re the greatest guy on earth, isn’t it Mr. Pres? Because reality is such a screaming hard edge.


17 posted on 02/04/2009 11:33:03 AM PST by bboop (obama, little o, not a Real God)
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To: xtinct

So, let's talk about CEO pay. Yeah...that's the ticket.

18 posted on 02/04/2009 11:33:21 AM PST by anniegetyourgun
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To: xtinct

But I thought Bambi said gubmint wasn’t supposed to use fear to bring the American people along, like Bush did with terrorism and stuff.


19 posted on 02/04/2009 11:33:28 AM PST by Deb (Beat him, strip him and bring him to my tent!)
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To: xtinct

I’m still having a hard time getting over the Y2K catastrophe (sarcasm)


20 posted on 02/04/2009 11:34:03 AM PST by BookmanTheJanitor
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