Posted on 02/14/2009 5:47:42 PM PST by bruinbirdman
Economic recovery in the United States "will be measured in years, not months".
The House of Representatives approved a revised version but with no Republicans support. It passed in the senate in late in the evening with 60 votes, the minimum required to stop dissenters from talking the bill out off the agenda. Only a handful of moderate Republicans sided with the president and his Democratic Party.
The American Recovery and Reinvestment Act is the largest spending plan the US has ever seen. It combines tax cuts (38 per cent of the package), aid to struggling state governments (38 per cent) and central government spending (24 per cent) and aims to revive the world's biggest economy that lost nearly 600,000 jobs last month.
The president has warned that without strong intervention, the US was heading for an irreversible downward spiral, but at the same time has seen the crisis as an opening.
"We have a once in a generation chance to act boldly, turn adversity into opportunity, and use this crisis as a chance to transform our economy for the 21st century," he said, speaking to the Business Council a few hours before the vote.
He added that the bill was "only the beginning of what we must do to turn our economy around", as advisers began sketching a bold legislative agenda for the next 12 months that will include a detailed plan for struggling home owners and an overhaul of regulatory regime of the financial market.
Mr Obama will also propose a budget to lay the groundwork for sweeping health care reform and present a major green energy bill.
In the meantime Timothy Geithner, the Treasury Secretary, will present a more detailed version of his banking bail-out plans, which were heavily criticised earlier in the week
(Excerpt) Read more at telegraph.co.uk ...
Locking a chain on the beast to keep her out of the way of more aggressive powers that seek greater influence on the world stage.
By the time the world realizes what has happened, It will be too late.
It will “take years” yet there wasn’t time for a few days of public debate nor time for the legislators to read and absorb the compromise bill?
#
Note: The following text is a quote:
http://www.whitehouse.gov/blog/09/02/14/A-major-milestone/
THE BRIEFING ROOM • THE BLOG
Saturday, February 14th, 2009 at 5:30 am
A major milestone
Today President Obama is celebrating the passage of the American Recovery and Reinvestment Act as a “major milestone on our road to recovery,” while still emphasizing that we have many miles yet to go.
“This historic step won’t be the end of what we do to turn our economy around, but the beginning,” he says in his weekly address. To get us there, he invokes President Kennedy, who said, “Do not pray for easy lives. Pray to be stronger men. Do not pray for tasks equal to your powers. Pray for powers equal to your tasks.”
President Obama acknowledges that some people are skeptical about the plan given how Washington has performed in the past, which is why he’s encouraging people to check back at Recovery.gov — the site where, once the plan is in action, you’ll be able to track the funds.
“Utlimately, this is your money, and you deserve to know where it’s going and how it’s spent,” he says.
Watch the address below.
Let's use it.
Just so you know, my fellow Americans. That bill that couldn’t wait another 12 hours to allow your government to READ before signing into law won’t really do much for you for YEARS.
But it’s a process and the important thing is we are working together.
The media make me ill.
Throw in the democrat party and it is suddenly terminal.
Just in case I am preparing my super secret escape plan. I hope to escape the disaster in a well equipped sailboat fully self contained survival system I am developing. I plan on at least a three year sustainable voyage. I am hoping to be able to totally disconnect from the system.
He looks like Julius Ceasar in that picture.
Do you think Rahm Emmanuel be his Brutus?
as advisers began sketching a bold legislative agenda for the next 12 months that will include a detailed plan for struggling home owners and an overhaul of regulatory regime of the financial market.
That tingle is running up my leg again.
>It will “take years” yet there wasn’t time for a few days of public debate nor time for the legislators to read and absorb the compromise bill?
No, th-that’s l-l-logic! The only known counter to the silliness of it all... well that and MOCKING him.
The economy won’t recover until 0bama is out of office.
“Do not pray for tasks equal to your powers. Pray for powers equal to your tasks.”
So go ahead 8 years of college IT guy! Grab yourself a shovel and come out with the road crew and do your duty as a patriotic American!
The stimulus will yield prosperity around January or February of 2013. After that everything really will be unicorns and gumdrops, just like I promised.
Forgot the sarcasm tag there guys.
WHOA!
We had to ram this thing through to save the world, but now it’s passed he admits “it will take years”?
Is he really so arrogant and out of touch he thinks we believe this?
All of a sudden some goofball from Indonesia by way of Chicago is an expert on everything, by virtue of having been elected by a few dozen million dumbies! And judging from the careers of his RAT predecessors, he’ll remain an expert on everything until he dies. Whatta country!
And yet, it had to be passed without even 24 hours delay.
As far as many of us are concerned, we welcome it. Culling the herd just helps bring the battle line into sharper clarity.
BO STINKS!
This was the “The Marxism Conversion Act of 2009”. We just witnessed a Marxist coup disguised as routine legislation.
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