Obama: Catastrophe coming if Congress doesn't act

Breitbart ^ | 2/4/09 | ANDREW TAYLOR

[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.

[Fred]

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[hripka]

Never Re-Elect Anyone

US Term Limits

[Oldexpat]

The stock market was getting a bit bouyant on the feeling that the bill would fail. But after Zero opened his mouth the AM..things have been heading south again.
Somehow, the market doesn’t seem to think that the stimulus bill will do the economy any good.

[rollo tomasi]

The catastrophe reached DEFCON 2 Nov. 2, 2006.

On November 4, 2008 the catastrophe moved to DEFCON 1.

[Waco]

It’s been going on since NOV. 4TH, 2008, and it’ll get worse. Wake up, dummie.

[Billthedrill]

I don’t see what the problem is. The Dems have a majority in both houses and a Dem President. Have at it, fellas! Oh - but then that includes taking responsibility for the outcome. Two weeks into the Obama regime and already the “Bush’s fault” chanting is coming back to haunt them. That didn’t take long.

[evets]

Chicken come home to roost...

[Sgt_Schultze]

">

Oh my!

Fire and brimstone coming down from the skies, rivers and seas boiling... forty years of darkness, earthquakes, volcanoes... the dead rising from the grave... human sacrifice, dogs and cats living together... mass hysteria!

[Rutles4Ever]

The coming catastrophe laughs in the face of such paltry numbers. Our choices come down to:

1) Endless stimulus - i.e., Weimar Germany, or
2) Staggering deflation - i.e., 1930.

[Hoffer Rand]

Now there’s a slogan... 0bambi: Every time he stands up, the stock market goes down.

[listenhillary]

[chris_bdba]

I think that statement needs the n’t taken from it to be correct? :)

[Sig Sauer P220]

The catastrophe already occurred on election day.

[SMM48]

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.

$50 Billion, huh? Well, that should be enough for it to sail through the Senate.

NOT!

[mojitojoe]

I’m sick of hearing his voice.

You listen? I haven’t heard him since the election. Mute is a wonderful thing. I can read what he says, I refuse to watch him. It makes me have nightmares.

[lado]

Gee, isn’t this the same ‘FEAR-MONGERING’ that the lefty liberals liked to throw at Dubya for 8 full years?

[jersey117]

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

Well they tried that with the first bailout and we all see how that worked out. They were screaming that the sky was falling..... we must pass this before it hits Main Street..... Well here we are on Main Street anyway and he doesn't even have a plan. He's clearly not up to the task. He thought life would be one big campaign.

[Soul Seeker]

I’m getting the strangest sense of deja vu. Almost as if we’ve heard this line before. Is it in the “How to” manual for all US administration’s?

We don’t have to do anything. How about a novel change of pace since you are so into change Obama. Keep Government out of the private sector.

[freekitty]

The catastrophe is already here and it’s Obama and his leader Soros.

[Eric in the Ozarks]

I can't even check out at Wal Mart without being surrounded by this moron's leering face.