Posted on 09/11/2009 5:19:23 PM PDT by upchuck
... Previewing a speech Obama will give on Wall Street Monday, Lawrence H. Summers compared the government's actions to a successful but evolving response to a catastrophic natural disaster.
"We are making a clear transition from rescue as the priority of public policy to sustained recovery," he told reporters in a briefing Friday afternoon. "We have moved back from the brink of financial catastrophe."
Summers said the Obama administration can "take real satisfaction" from what he said is movement toward recovery but quickly added that the White House recognizes the depth of economic hardship that remains a legacy of last year's collapse.
"The level of unemployment is unacceptably high," he said. "We will not make the mistake of prematurely declaring victory or prematurely withdrawing public support for the flow of credit. . . . It is a mistake that we must not make today."
... On Thursday, the White House credited its $787 billion stimulus package with saving or creating more than 1 million jobs since its passage in February.
Still, Republicans have increased their rhetorical attacks on the administration as the unemployment rate has continued to rise and the promise of economic growth has failed to materialize.
House Republican Whip Eric Cantor (R-Va.) issued a statement on Thursday criticizing the president and his aides for offering happy-talk about the economy while many people still suffer.
"The American people don't understand why the Administration continues to praise itself while workers keep losing their jobs," Cantor said.
In the statement, Cantor charged that: "Since President Obama took office, over three million Americans have lost their jobs, including 2.5 million people since the President signed his stimulus bill. The President's agenda has failed to create jobs."
(Excerpt) Read more at washingtonpost.com ...
I'd really like to see the detailed documentation to support that. I've not seen anything to convince me that's a true figure.
Anybody else?
The ocean is rising because of the amount of BS that is being dumped into it, not global warming.
Give them some of that “profits are bad” stuff in the speech.
Didn’t our dear leader say if we passed this bill the highest unemployment will be is at 8%???
“We have always been at war with Eurasia”!
Aw com’on, Larry, I mean Jurwayne, Jr.
http://www.trailertrashdoll.com/
“Honest. I’m lyin’ through my tooth.”
I hope they do! This fall and winter are going to be very bad economically, regardless of what the stock market does, and Obama should own every bit of it.
Blaming Bush so far has worn very thin, and won't work a second time.
The trick is in the phrase “saving or creating.” There’s no way to realistically measure that, so they can say whatever they like.
You Lie! (My new mantra for BOzo and his Buffoons)
You know a liberal democrat has to be in office when the MSM paints 9%+ unemployment as a rosey economy, when unemployment was down around 4% under President Bush all we heard was sob stories about all the low wage, poor quality jobs that were being created.
We are going into a second deeper recession.
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