Posted on 11/08/2012 5:04:05 PM PST by Sub-Driver
Obama to make statement on economy Friday By Mark Felsenthal | Reuters 48 mins ago
WASHINGTON (Reuters) - Newly re-elected President Barack Obama will make a statement on the economy on Friday, the White House said, setting the stage for a showdown with congressional Republicans over contentious tax and spending issues.
The president is likely to discuss looming tax increases and government spending cuts - the so-called fiscal cliff - that would go into effect early next year unless Congress acts to prevent them. He is due to make the statement from the East Room of the White House at 1:05 p.m. (1805 GMT).
Obama, who defeated Republican challenger Mitt Romney on Tuesday in a race in which the two candidates offered different visions for jump-starting the sluggish economy, is not expected to put forward a new or specific plan.
Instead, he is more likely to urge Congress to tackle the fiscal cliff and try to cut the massive U.S. budget deficit. Analysts have said that if left unaddressed, the abrupt fiscal tightening would knock the economy back into recession.
Congressional Republicans have already begun to stake out their position on ways to spare the already modest economic recovery from a fiscal shock. House of Representatives Speaker John Boehner is scheduled to hold a news conference earlier on Friday.
The president's advisers told reporters earlier on Thursday that dealing with the fiscal cliff would be an immediate priority. The administration sees Obama's re-election an endorsement of his position that affluent Americans should see their taxes rise, they said.
(Excerpt) Read more at news.yahoo.com ...
There will be some scraps left over. No worry.
What the heck was that little speech all about? We have work to do? Blah blah blah ....
What a waste of air time.
All I heard was the same bs he always spouts. What a useless turd.
SOS as the last four years.
Actually, it feels kind of like 0zombie is picking up where McCain left off in his “emergency meeting” Lo, those many years ago.
Or you just go bald.
Unfortunately, not only is Boehner weak-kneed and gutless but he is a liar. Not as bad as BO but a liar nonetheless. We don’t need leaders like him.
#165 is 100% correct.
Defund everything.
But they won’t. And we’re looking at a 20 year depression.
Good times ahead.
I understand. However, I am very suspicious that it will be more than 4 years.
One thing about it now. This catastrophe that is in the making (who knows when or what) will be on his hideous head. He owns everything from now on. The Bush blame is going to fade very quickly. He desperately wanted another term and he got it. We will get to see him when all h-e-double-hockey-sticks breaks loose right in his obscenely arrogant hideous face (which makes me violently ill every time I am forced to look at it before I can look away).
Thanks for your reply.
Did Benghazi never happen?
Nope. Neither did Sandy, Solyndra, or F&F.
We need to realize that we will get blamed, no matter what. So we might as well do the right thing.
which makes me violently ill every time I am forced to look at it before I can look away
Same here. It's because he's ALWAYS lying.
What the hell do you mean by saying ‘do the right thing’?
As far as he is always lying....that is not what to which I am referring. It is his obscene arrogance that has now taken over America and may very well be our destruction.
Oppose him when he should be opposed, i.e., everywhere, rather than worry about public opinion.
Sorry for sounding like I was screaming. I think I had too much adult beverage, which has increased since Tuesday. Best FR wishes to you.
I did something similar yesterday ;-)
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