Posted on 10/14/2008 5:51:11 PM PDT by Kaslin
The President discussed the economy this morning in the Rose Garden
The President welcomed the Stanley Cups Detroit Red Wings to the White House Transcript
The President signed this morning the the Duncan Hunter National Defense Authorization Act for fiscal Year 2009 in the Oval Office
Republican Presidential candidate John McCain campaigned this morning with his wife Cindy McCain at a Rally in Blue Bell, Pennsylvania
Vice Presidential candidate Governor Sarah Palin campaigned at a Rally in Scranton, Penn. While there she made a phone call to Rush Limbaughs show
President Bush to Welcome President Ellen Johnson Sirleaf of Liberia
President Bush will welcome President Ellen Johnson Sirleaf of the Republic of Liberia to the White House on October 22, 2008. The visit will provide an opportunity for the two leaders to discuss ongoing areas of U.S. - Liberian cooperation including efforts to reform Liberia's security sector, combat malaria, and improve the quality of education. This meeting is also an opportunity for the President to reinforce the U.S. long-term commitment to assist Liberia in its reconstruction and stabilization efforts.
Quote of the day
THE PRESIDENT: Good morning. I just completed a meeting with my working group on financial markets. We discussed the unprecedented and aggressive steps the federal government is taking to address the financial crisis. Over the past few weeks, my administration has worked with both parties in Congress to pass a financial rescue plan. Federal agencies have moved decisively to shore up struggling institutions and stabilize our markets. And the United States has worked with partners around the world to coordinate our actions to get our economies back on track.
This weekend, I met with finance ministers from the G7 and the G20 -- organizations representing some of the world's largest and fastest-growing economies. We agreed on a coordinated plan for action to provide new liquidity, strengthen financial institutions, protect our citizens' savings, and ensure fairness and integrity in the markets. Yesterday, leaders in Europe moved forward with this plan. They announced significant steps to inject capital into their financial systems by purchasing equity in major banks. And they announced a new effort to jumpstart lending by providing temporary government guarantees for bank loans. These are wise and timely actions, and they have the full support of the United States.
Today, I am announcing new measures America is taking to implement the G7 action plan and strengthen banks across our country.
First, the federal government will use a portion of the $700 billion financial rescue plan to inject capital into banks by purchasing equity shares. This new capital will help healthy banks continue making loans to businesses and consumers. And this new capital will help struggling banks fill the hole created by losses during the financial crisis, so they can resume lending and help spur job creation and economic growth. This is an essential short-term measure to ensure the viability of America's banking system. And the program is carefully designed to encourage banks to buy these shares back from the government when the markets stabilize and they can raise capital from private investors.
Second, and effective immediately, the FDIC will temporarily guarantee most new debt issued by insured banks. This will address one of the central problems plaguing our financial system -- banks have been unable to borrow money, and that has restricted their ability to lend to consumers and businesses. When money flows more freely between banks, it will make it easier for Americans to borrow for cars, and homes, and for small businesses to expand.
Third, the FDIC will immediately and temporarily expand government insurance to cover all non-interest bearing transaction accounts. These accounts are used primarily by small businesses to cover day-to-day operations. By insuring every dollar in these accounts, we will give small business owners peace of mind and bring stability to the -- and bring greater stability to the banking system.
Fourth, the Federal Reserve will soon finalize work on a new program to serve as a buyer of last resort for commercial paper. This is a key source of short-term financing for American businesses and financial institutions. And by unfreezing the market for commercial paper, the Federal Reserve will help American businesses meet payroll, and purchase inventory, and invest to create jobs.
In a few moments, Secretary Paulson and other members of my Working Group on Financial Markets will explain these steps in greater detail. They will make clear that each of these new programs contains safeguards to protect the taxpayers. They will make clear that the government's role will be limited and temporary. And they will make clear that these measures are not intended to take over the free market, but to preserve it.
The measures I have announced today are the latest steps in this systematic approach to address the crisis. I know Americans are deeply concerned about the stress in our financial markets, and the impact it is having on their retirement accounts, and 401(k)s, and college savings, and other investments. I recognize that the action leaders are taking here in Washington and in European capitals can seem distant from those concerns. But these efforts are designed to directly benefit the American people by stabilizing our overall financial system and helping our economy recover.
It will take time for our efforts to have their full impact, but the American people can have confidence about our long-term economic future. We have a strategy that is broad, that is flexible, and that is aimed at the root cause of our problem. Nations around the world are working together to overcome this challenge. And with confidence and determination, we will return our economies to the path of growth and prosperity.
Thank you.
Photos of the day
President George W. Bush is joined in the Oval Office Tuesday, Oct. 14, 2008, for the signing of S. 3001, the Duncan Hunter National Defense Authorization Act for Fiscal Year 2009. With him from left are: U.S. Secretary of Defense Robert Gates, U.S. Senator Carl Levin, D-Mich.; U.S. Senator John Warner, R-Va.; President Bush; Republican Congressman Duncan Hunter of California, and Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff. White House photo by Joyce N. Boghosian
President George W. Bush stands with Detroit Red Wings captain Nicklas Lidstrom as they hold up jerseys Tuesday, Oct. 14, 2008 in the East Room at the White House, representing President Bush's father 41 and the President 43, during the ceremony to honor the Red Wings 2008 Stanley Cup championship. White House photo by Chris Greenberg
Republican vice presidential candidate, Alaska Gov. Sarah Palin an her husband Todd, wave and sign autographs after Palin's rally in Scranton, Pa., on Wednesday, Oct. 14, 2008.
Hi!!!
President George W. Bush meets with his Working Group on Financial Markets Tuesday, Oct. 14, 2008, in the Roosevelt Room of the White House. Afterward, the President said, "I know Americans are deeply concerned about the stress in our financial markets, and the impact it is having on their retirement accounts, and 401(k)s, and college savings, and other investments. I recognize that the action leaders are taking here in Washington and in European capitals can seem distant from those concerns. But these efforts are designed to directly benefit the American people by stabilizing our overall financial system and helping our economy recover." White House photo by Eric Draper
President George W. Bush is joined in the Oval Office Tuesday, Oct. 14, 2008, for the signing of S. 3001, the Duncan Hunter National Defense Authorization Act for Fiscal Year 2009. With him from left are: U.S. Secretary of Defense Robert Gates, U.S. Senator Carl Levin, D-Mich.; U.S. Senator John Warner, R-Va.; President Bush; Republican Congressman Duncan Hunter of California, and Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff. White House photo by Joyce N. Boghosian
President George W. Bush delivers a statement on the economy Tuesday, Oct. 14, 2008, from the Rose Garden of the White House. In announcing new measures America is taking to implement the G7 action plan and strengthen banks across the country, the President said, "It will take time for our efforts to have their full impact, but the American people can have confidence about our long-term economic future. We have a strategy that is broad, that is flexible, and that is aimed at the root cause of our problem. Nations around the world are working together to overcome this challenge. And with confidence and determination, we will return our economies to the path of growth and prosperity." White House photo by Eric Draper Full Story
Hi, Kaslin. Looking forward to another great dose
:)
Yay!!!!!!
President George W. Bush welcomes the Detroit Red Wings NHL Hockey team, winners of the 2008 Stanley Cup, Tuesday, Oct. 14, 2008, to the East Room at the White House. White House photo by Chris Greenberg
President George W. Bush stands with Detroit Red Wings captain Nicklas Lidstrom as they hold up jerseys Tuesday, Oct. 14, 2008 in the East Room at the White House, representing President Bush's father 41 and the President 43, during the ceremony to honor the Red Wings 2008 Stanley Cup championship. White House photo by Chris Greenberg
President George W. Bush thanks Detroit Red Wings player Chris Chelios for a miniature Stanley Cup presented to the President Tuesday, Oct. 14, 2008 in the East Room at the White House, during the ceremony to honor the Red Wings 2008 Stanley Cup championship. White House photo by Chris Greenberg
President George W. Bush stands with Detroit Red Wings captain Nicklas Lidstrom as they hold up jerseys Tuesday, Oct. 14, 2008 in the East Room at the White House, representing President Bush's father 41 and the President 43, during the ceremony to honor the Red Wings 2008 Stanley Cup championship. White House photo by Chris Greenberg
U.S. President George W. Bush meets with the President's Working Group on Financial Markets in the Roosevelt Room of the White House in Washington October 14, 2008.
p> President Bush walks into the Rose Garden to deliver remarks on the economy at the White House in Washington, Tuesday, Oct. 14, 2008.
President Bush always seems to enjoy when athletes come to the White House.
U.S. President George W. Bush walks to the podium to make a statement on the economy in the Rose Garden of the White House, following a meeting of his working group on financial markets in Washington October 14, 2008.
President Bush delivers remarks on the economy in the Rose Garden of the White House in Washington, Tuesday, Oct. 14, 2008.
US President George W. Bush speaks on the comprehensive financial rescue package in the Rose Garden of the White House in Washington, DC, after meeting with the President's Working Group on Financial Markets.
US President George W. Bush speaks on the comprehensive financial rescue package in the Rose Garden of the White House in Washington, DC. The United States will buy up to 250 billion dollars worth of bank shares in the latest bid to end the financial crisis, officials said Tuesday, as forecasters warned two key European economies were falling into recession.
U.S. President George W. Bush walks from the podium following a statement on the economy in the Rose Garden of the White House, following a meeting of his working group on financial markets in Washington, October 14, 2008.
U.S. President George W. Bush walks away from the podium after announcing a statement on the economy in the Rose Garden of the White House, following a meeting of his working group on financial markets in Washington, October 14, 2008.
Go WINGS!!
U.S. President George W. Bush signs S.3001, the Duncan Hunter National Defense Authorization Act of 2009 in the Oval Office of the White House in Washington, October 14, 2008. With Bush are (L-R) Defense Secretary Robert Gates, Sen. Carl Levin (D-MI), Sen. John Warner (R-VA), Sen. Duncan Hunter (R-CA) and Chairman of the Joint Chiefs of Staff, Admiral Michael Mullin.
President Bush, center, signs the Duncan Hunter National Defense Authorization Act for fiscal Year 2009 in the Oval Office of the White House in Washington, Tuesday, Oct. 14, 2008. Bush is surrounded by, from left, Defense Secretary Robert Gates, Sen. Carl Levin, D-Mich., Sen. John Warner, R-Va., Rep. Duncan Hunter, R-Calif., and Chairman of the Joint Chiefs Admiral Michael Mullen
U.S. President George W. Bush (R) honours the 2008 Stanley Cup champions, the Detroit Red Wings, at a ceremony in the East Room of the White House in Washington, October 14, 2008
Republican presidential candidate, Sen. John McCain, R-Ariz., and his wife Cindy McCain are seen as they enter a rally at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008.
Republican presidential candidate, Sen. John McCain, R-Ariz., and his wife Cindy McCain, right, greet the crowd as they arrive at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008.
Cindy McCain introduces her husband Republican presidential candidate, Sen. John McCain, R-Ariz., during a rally at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008
Cindy McCain introduces her husband, Republican presidential candidate, Sen. John McCain, R-Ariz., during a rally at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008.
Republican presidential candidate, Sen. John McCain, R-Ariz., embraces his wife Cindy McCain during a rally at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008
U.S. Republican presidential nominee Senator John McCain (R-AZ) and his wife Cindy (R) greets supporters during a rally in Blue Bell, Pennsylvania October 14, 2008.
Republican presidential nominee Senator John McCain (R-AZ) and his wife Cindy (L) attend a rally in Blue Bell, Pennsylvania October 14, 2008.
Cindy McCain greets supporters during a rally for her husband, Republican presidential candidate, Sen. John McCain, R-Ariz.,at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008.
Republican presidential nominee Senator John McCain (R-AZ) and his wife Cindy attend a rally in Blue Bell, Pennsylvania October 14, 2008.
Cindy McCain, wife of Republican presidential candidate Sen. John McCain, R-Ariz., listens to her husband speak during a rally at Montgomery County Community College in Blue Bell, Pa., Tuesday, Oct. 14, 2008
Republican presidential candidate, Sen. John McCain, R-Ariz., and his wife Cindy McCain stand on the tarmac together before they board his campaign plane in Philadelphia, Tuesday, Oct. 14, 2008.
Republican presidential candidate, Sen. John McCain, R-Ariz., and his wife Cindy McCain wave as they board his campaign plane in Philadelphia, Tuesday, Oct. 14, 2008
Rush Interviews Governor Sarah Palin
BEGIN TRANSCRIPT
RUSH: Welcome back, ladies and gentlemen. Rush Limbaugh and Long Cool Woman in a Black Dress by The Hollies taking us into our little chat here with Governor Sarah Palin, the vice presidential nominee for John McCain. Governor Palin, welcome to the program. It's nice to have you here. It's a pleasure to speak with you.
GOVERNOR PALIN: Hey. Thank you so much and dittos from Scranton.
RUSH: Scranton, Pennsylvania, on the bus?
GOVERNOR PALIN: We just got off the bus. We're heading into a rally here, but wanted to take a couple of minutes to get to say hi and let you know what we're doin', Rush.
RUSH: I tell you, I was in a quandary here this morning. I admire you so much I really don't know what to ask. I was tempted to say, "Okay, Governor Palin. You've got ten minutes. Let her rip." (laughs)
GOVERNOR PALIN: (laughs)
RUSH: But one thing I do want to ask you about: Obama's comment yesterday to the plumber who said, "Why are you going to raise my taxes?" and Obama said, "Well, it's not that I want to punish you. It's that I want to -- we want to spread the wealth around," which seems to me to sum it up. This is contrary to every economic and constitutional principle for which this nation stands. And it seems this comment by Obama -- and I know that Senator McCain hit this this morning -- is just an excellent opportunity for your campaign to contrast your vision of America with his.
GOVERNOR PALIN: Absolutely! You know, people on November 4th, they're going to have the choice. You can either support the ticket that will support policies to create jobs -- we do that by reducing taxes and reining in government growth and allowing our country to be energy independent -- or you choose the ticket that's going to kill jobs by increasing taxes, just like Barack Obama is purporting today.
RUSH: Now, Governor Palin, do you...? Do you...? How to ask this? The people that are being thrilled to death by your presence, the people that have been revved up on our side -- who, prior to your being chosen, were not nearly as excited as they are now -- and one of the reasons for it, Governor Palin, is that you seem to understand the stark choice we have and the real danger the country faces in the future if the Obama-Biden ticket is elected. And I'd just like to know personally: Do you see it that way? Do you see it beyond just an average, normal presidential campaign in any given four-year period?
GOVERNOR PALIN: I do. I see it. I mean this. On November 4th, we're going to set a course for the future of our great country. We're going to go one direction or the other, and you understand that our ticket, what we're all about is pro-growth, pro-private sector. We're tax cuts. We're reining in government. We're proponents of the culture of life that would make America better off. We're adamant about winning the wars with the strongest military in the world. All those things that we stand for that I think are so clearly articulated with our message, with the plan that's been expressed, we can go that direction or we can go in the complete opposite direction of all those aforementioned goals that we have in mind if you choose the other ticket.
RUSH: Well, now, as I listen to your campaign appearances and Senator McCain's, it seems that you are the more forceful in speaking out against Obama and his campaign ideas. Are they giving you pretty much free rein to attack this campaign as you wish?
GOVERNOR PALIN: Well, you know, there just aren't enough hours in the day I think to get out there and (cell garbled). Rush, I've got nothing to lose in this, and I think America has everything to gain by understanding the differences, the contrasts here between Obama and McCain. So, you know, I'm going out there and I'm just simply speaking. So be it that I'm a simple talker, but I'm just going out there and letting people know the differences and how absolutely paramount it is that voters are paying attention and that voters are understanding candidates' records, their associations, their plans for the future; instead of being kind of wrapped up into all this rhetoric of Obama's and buying into it and not holding him accountable for the things that he's done, the things that he's said, his associates, and where he wants to take America.
RUSH: That's exactly it. The media is not holding him accountable; the media is covering up for him. That's why there is so much enthusiasm for you, because you are the one in this campaign who is holding him to account and trying to explain who he is and who his alliances are with and have been. There are two stories today -- one in the Los Angeles Times, one in the New York Times -- both saying how wonderful you are as a speaker. The New York Times posited that you are the most forceful and dynamic speaker of all four candidates on the presidential circuit. Then they said that your forcefulness and your opinionatedness and your charisma and your overwhelming ability to say what you mean, is driving away moderates. Now, this is an attempt to get you to shut up.
GOVERNOR PALIN: (laughing)
RUSH: This is an attempt by the media to make you stop being who you are. What it means is, they're really worried about the effectiveness that you have.
GOVERNOR PALIN: Well, yeah, I guess that message is they do want me to sit down and shut up. But that's not going to happen. I care too much about this great country. Now, yes, speaking of some of those associations -- and you're right; mainstream media is not holding Barack Obama accountable -- let's talk quickly about ACORN and the unconscionable situation that we're facing right now with voter fraud. And given the ties between Obama and ACORN and the money that his campaign has sent them and the job that he had with them in the past, Obama has a responsibility to rein in ACORN and prove that he's willing to fight voter fraud. We called him on it.
RUSH: He's not going to do that. He's been paying for them.
GOVERNOR PALIN: (laughing) Yeah. Right.
RUSH: He's not going to rein them in! This is why you guys have to have the responsibility. Obama is not going to do anything to harm himself.
GOVERNOR PALIN: Well, here's the deal then. We call him on it again today, right, as we did almost a month ago. We reached out to Obama and we said that there has to be an effort to cooperate on potential voter fraud. That was a month ago. It wouldn't surprise you, of course, that we haven't received a response from back then. But again, though, calling him on it again today -- and for shame if the mainstream media were to cover this one up! There's already been too much ignorance, ignoring of, his associations with Bill Ayers and with others in the past. But this ACORN stuff, it is unconscionable.
RUSH: I don't mean to always harp on the media here because everybody does this, but this is a true observation here. If it weren't for the media covering up for Obama and presenting him as a person he's not, he would be at 30% in the polls. Your odds, therefore, are formidable, the things that you and Senator McCain have to overcome in these last three weeks because you're not only waging a race. This is my opinion. She's not saying this, folks. I'm not trying to put words in your mouth, Governor, but you're waging a race not just against Obama and Biden. You're waging a race against most of the mainstream media in this country. One of the things I have to go back and ask you before we lose our time with you. It's something that profoundly offended me. You have borne up under this well. You're from Alaska; thrust onto the national stage. They start these attempts to destroy you, based on your apparent treasonous behavior to feminism. How did it make you feel when they said you had no business being chosen for vice president because you have a child to raise?
GOVERNOR PALIN: Oh, isn't that something? The double standards are something else. But, you know what? If my skin isn't thick enough to take those petty immature shots that are coming from some of them on the other side, then I have no business thinking that I could serve as vice president. And keeping it in perspective, too, Rush when you consider the true shots that actually hurt people across America -- those who are worried about losing their homes, their jobs; maybe their kid or their spouse is over in the war zone, they're worried about that person's safety -- those are the true shots that really matter in America today. So the political... (cell phone drops)
RUSH: Oh, no! We lost the cell call. I had one last question to go before that answer, and the question was going to be... Maybe she'll call us back real quick. I'll hold here and see if they do try to get back, and I'll give you a heads-up on the question I was going to ask her. She's got to be enjoying this. I want to ask her. She seems like she really enjoys this. Here she comes from Alaska. She's thrust onto the national stage, and all of a sudden now he's really eating this up, and she's the reason for the crowds. And I wonder how her future in politics, as she assesses it, is. Governor Palin, we have you back?
GOVERNOR PALIN: Hey, I'm back. Sorry.
RUSH: Sorry we lost you. I've got one question. I know your time is short. A lot of people are... A friend of mine had dinner with another friend in Cleveland about three weeks ago, and this guy -- whose name you would know; I'm going to protect his identity -- was just going on and on and on about how impressed he was with the fact that all of a sudden, outta nowhere, you get thrust onto a national stage from Alaska; you show up one day in Ohio and it appears that you had bags packed for a month, that you had all of the logistics handled. He was profoundly impressed just by the human challenge that you overcame there. Now, you're on the trail, and everybody watching you, including me, seems to think that you really like this, that you're into it and you're a natural at it.
GOVERNOR PALIN: (laughter)
RUSH: So, therefore, have you even thought about a political future beyond this campaign?
GOVERNOR PALIN: That's a good question. (laughing) No, because I'm thinking about November 4th, and I am just so absolutely passionate about the job that we have in front of us from now 'til November 4th, getting people to understand how important paying attention is. Let me bring up one more thing real quickly about the economy and taxes and Barack Obama and his flip-flopping and his inconsistencies there that should... Sheesh. This stuff should make people question what his intentions are. Now, we're pressing Obama on taxes, right, because he's known as somebody who would raise taxes on you. He's voted 94 times for higher taxes, including increased taxes on people making just $42,000 a year. So, he said repeatedly he would consider abandoning his plan for all these huge tax increases of his if the economy was "weak," quote. He said if it were weak. But even today, not being able to admit that, okay, the economy is weak, but it's not weak enough for Obama to say he won't raise taxes. He will raise taxes. People have to understand that and then, from there, let them make the best decision.
RUSH: The point about that comment to me, Governor Palin, is he's admitting that his economic plan will slow down the economy. So whether it's weak or strong, who needs that? We don't need somebody as president who admits his objective is going to harm economic growth! This man poses a serious danger. I know that you're aware of it, and a lot of people are counting on you. I'm not trying to add any more pressure to you than you already have, but a lot of people, you've struck a chord with them, and we look at these crowds that you're drawing out there, and it keeps everybody fired up. So keep it up.
GOVERNOR PALIN: Okay. And I certainly will, but the crowds that we're drawing, it's just good, commonsense, hardworking patriotic Americans who are saying, "Right on! It is time for change." But it's the change that matters --
RUSH: Yeah, but --
GOVERNOR PALIN: -- that they're concerned about.
RUSH: They're standing in the rain for two hours to get in to see you after driving an hour and a half to get there, and that's because you have reenergized them.
GOVERNOR PALIN: Well, I love 'em and we're not going to let 'em down. I promise you, Rush. We're not going to let you down. We're not going to let these good, patriotic, hardworking Americans down. We're going to put government back on their side.
RUSH: Thanks, Governor Palin. I appreciate your time and all the best down the road the next three weeks.
GOVERNOR PALIN: Hey, thank you so much and we'll keep listening. Thank you, Rush.
RUSH: All right. Governor Sarah Palin from Scranton, Pennsylvania.
END OF TRANSCRIPT
A young supporter looks up as Republican vice presidential candidate, Alaska Gov. Sarah Palin, signs autographs after a rally in Scranton, Pa. on Wednesday, October 14, 2008
Republican vice presidential candidate, Alaska Gov. Sarah Palin, speaks to supporters during a rally in Scranton, Pa. on Wednesday, October 14, 2008
Republican vice presidential candidate, Alaska Gov. Sarah Palin, speaks to supporters during a rally in Scranton, Pa., on Wednesday, Oct. 14, 2008.
Republican vice presidential candidate, Alaska Gov. Sarah Palin, speaks to supporters during a rally in Scranton, Pa., on Wednesday, Oct. 14, 2008
Republican vice presidential candidate, Alaska Gov. Sarah Palin, speaks to supporters during a rally in Scranton, Pa. on Wednesday, Oct. 14, 2008.
Republican vice presidential candidate, Alaska Gov. Sarah Palin, waves to supporters during a rally in Scranton, Pa., on Wednesday, October 14,2008
Republican vice presidential candidate, Alaska Gov. Sarah Palin an her husband Todd, wave and sign autographs after Palin's rally in Scranton, Pa., on Wednesday, Oct. 14, 2008.
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