Posted on 01/31/2009 6:57:15 AM PST by tobyhill
President Obama said Saturday his administration will outline a new strategy in the coming days for spending billions of federal dollars to pull the nation out of an economic crisis he described as "devastating."
Obama and his top advisers are weighing how to structure the remaining $350 billion that Congress approved last year to save financial institutions and lenders from collapse. The new president also warned there is no single action that would allow his administration to fix the struggling U.S. economy, a stark statement at the end of a week that saw hundreds of thousands of Americans lose their jobs.
"No one bill, no matter how comprehensive, can cure what ails our economy," Obama said in his weekly radio and Internet address. "So just as we jump-start job creation, we must also ensure that markets are stable, credit is flowing and families can stay in their homes."
Obama and his aides spent his first two weeks in power working on the nation's economic troubles. The final three months of last year sent the economy into its worst downhill slide in a quarter-century. The economy stumbled backward at a 3.8 percent pace, government economists said Friday; that rate could accelerate to 5 percent or more this quarter.
(Excerpt) Read more at foxnews.com ...
0bama lied, the economy died.
What a pantload. Lower tax rates on income and capital gains then step back ...
I thought he was going to fix it all ON DAY ONE??!!?
Why do I imagine that his yes men are sitting around saying “So how about we make another speech in Germany?”
Can this guy just SHUT UP! The President is suppose to LIFT the American people...not rip out its HOPE!
His picture on Drudge has proven that he is not a “happy Negro”.
(Just thought you would like a morning laugh.)
So the “messiah” can’t fix a little thing like the economy? Where is our salvation? /sarc
Nationalize the banking, nationalize health care, cut the military by 20%, global warming BS, finance acorn so all future elections will buy a democrat,... Feel free to add to the list.
Umm, err, ahh, ummm, ahh, Odummer is wrong. Lower taxes, kill the Porkulus.
Translation: The "stimulus" is going to fail miserably, so don't have any real expectations.
Now you've hit on the true purpose of the "stimulus" bill. It isn't to stimulate the economy, it is to stimulate the electability of 'Rats. Think anyone in the media will pick up on it? Me neither.
More failed policies of the Obama administration!
Wow, what an uplifting, inspiring leader.
He needs to move that bust of Lincoln. It looks either critical of Obama, or very sad.
The only reason he won is because he was going to fix the economy. Looks like the hope and change voters have been snookered.
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