Is Pres. Obama exaggerating the crisis to force Congress to act?
President Barack Obama arrives on Capitol Hill to meet with House Republican Conference on the economic stimulas package on January 27, 2009. He is followed by US Transportation Secretary Ray LaHood. (PHOTO CREDIT: JIM WATSON/AFP/GETTY IMAGES)
From CNN's Jack Cafferty:
South Carolina Senator, Jim DeMint, said in a speech this week that the Obama administration is creating crisis and widespread panic to push the economic stimulus package. He likens the air of urgency to previous tactics used by the Bush administration to get the people and Congress to go along with whatever they wanted.
Senator James Inhofe, from Oklahoma, said this was the same tactic used by the Bush administration to get the $700-billion TARP bill passed in October, which has left some Republican lawmakers with buyers remorse. The Senators admit that it's hard to know how things would have played out if the bill had not passed, but that's not the point. DeMint is pointing his finger, not at his colleagues on the Hill, but at Bush and former Treasury Secretary Henry Paulson for saying the world economy will collapse if you don't do this.
Sounding somewhat parental, DeMint said, "I've been around long enough to know whenever someone tells me I have to make a decision right now, my response is no."
But DeMint's real point in all this was to say the stimulus plan that's on the table won't stimulate the economy at all, rather, it's filled with big-government wasteful spending projects. Only time will tell if that's the case.
Here’s my question to you: Is President Obama exaggerating the crisis in order to get Congress to act?
Interested to know which ones made it on air?
Nancy from Colorado writes:
Where did that question come from? How many millions of people out of work? Believe me, it's trickling down mighty fast through the entire country. Crisis is an understatement.
Meg from Troy, Ohio writes:
Jack: I hope it would not take a crisis of this magnitude to get Congress to act, but based on their recent track record, that may be the case. Someone needs to act and soon, or we're going to be talking about our economy and our way of life in the past tense.
Dan writes:
I don't think he is exaggerating about the problem. We are in a serious crisis. However, this bill smells a lot like the last bailout. Rushed out to give people the impression that Washington is working for them. Anyone watching the job losses know what the economy needs is jobs. The entire package should be for Public Works and other like programs that give people jobs. I want to be taught to fish, not just given one.
Bruce from St. Paul, Minnesota writes:
The crisis has been here for a while, and has been coming down the tracks since 1981. Reaganomics in the 80’s and Reaganomics on steroids the last 8 years. Most of us quit keeping up with inflation about 2001, survived on savings, then on borrowing against our inflated home prices. Now we are running on fumes.
Spencer writes:
Of course he is. In his inaugural speech Obama compared the present difficulties to Valley Forge for Pete's sake. Anyone who tells you that 8% unemployment rivals the Great Depression or Valley Forge either doesn't know their history or thinks you don't know yours.
Bill from Tampa, Florida writes:
I have a better one for you, Jack. There is a better bet that the Republican Party has created a crisis that is forcing itself to become extinct around the year 2012.
@jackcafferty on Twitter
The crisis was created long before Obama took office. Congress is making it worse every day it refuses to act.
Obama isn't responsible for workers being given the boot by the tens of thousands per week or people being evicted from their homes or millions of people losing their life savings or the 1 out of 6 (and rising) Americans who don't have healthcare. This crisis, and it truly is one, has been brewing since the days of Ronald Reagan and his trickle down economics. Well, the trickle finally reached the folks at the bottom and it's not money lapping at their feet.
Hey Jack,
The Republicans only offensive move is to stop President Obama at any and all costs. They have nothing to lose! A few right wing lunitics are already claiming that Obama has already ruined the economy?? The President has been in office a week and this is the Republicans way of "pulling together" for the American people is to keep screwing the country over to make a buck?
I say stick it to the Republicans and stop pandering to them. I do not want or need to be in middle ground to appease them. I want to do away with Religious right wing nuts who brag that racism, bigotry, intolerance and arrogance are Republican family values!
That's absurd. President Obama has been in office for less than 10 days. The country has officially been in a recession for 13 or 14 months. And the housing collapse, which is generally viewed as the reason for all of this, started around the time of the 06 elections. Economists have been saying the worst is yet to come since about October, and the vast majority of economists say a major stimulus is needed right now. The only thing he's creating (or trying to create) are solutions to problems he inherited.
Wasn't it Congress that had to react on the bank bailout? Were the layoff announcements this week made up? The crisis is evident, but Congress is too caught up with internal politics to do anything. What's worse is that the Republicans are refusing to cooperate, even though Obama wants their support. They need to get with the program and realize that the Democrats have the power, and crying over their repeated losses is just wasting time when they could and shoul be salvaging the few seats they have left before the Democrats have another winning year in 2010.
Hi Jack:
I think you're missing something here. Wasn't "THE CRISIS" there before he even thought about running for president. I would say he inherrited a crisis situation. It isn't of his doing. All he want to do is try and fix what was left to him.
Ron San Diego
Absolutely not. The crisis is that they are not moving as quickly as possible to start getting our country back on its feet. Even after it gets approved by congress, there will still be many hoops to go through before it can be implemented.
There will be additions, hopefully not additional tax cuts, and eliminations, hopefully for non productive spending, and maybe,
just maybe, our politicians will get it right?
The key will be for stipulations, regulations and guidance on how
every penny is spent.
The crisis exists and it has been building for several years now thanks to a failure in leadership from both the former president and the rubber stamp congress that his regime had for six of his eight years in power.
hi jack
no if you dont already know someone that has lost a job,you will by the time the week is over,no jobs no tax payers no tax payers no bills being paid,so we need to fix the problem that Bush helped to create,we just need to be glad hes gone.
clearwater,fl
Obama has made several mistakes already. Let’s hope this isn’t another one.
Dear Jack,
ask the same question to the thousands who have lost their job!
No. Most economists agree the crisis is real and existed before Obama took office; however, Obama's failure is the only way for Republicans to regain power. Remember Jack, it's always party before country.
Ed Reed
Port Aransas, TX
The crises (recession ) was started with Bush in control with the Congress by his side. The crises was already created and Congress is forced to do its job that they were voted into office to do. Do your job CONGRESS! Obama was not president until last week so how can he be blamed calling this a crises. IT IS ONE!!!!
Terence , Piscataway, NJ
If Obama and the Democrats were preparing this H.R. 1 bill since November why couldn't they get it right? Seems that all democratic leaders and committees must have known all the pork and waste in this bill. How else did it get there? I did read the bill.
Congress and especially democrats if they want to stay in office should have had time to review this bill. I can see if they would have tried to pass something immediately to help but not this. They blew the first bailout. Now they also want to create a Bad Bank to do what the first bailout was supposed to do.
Do you know how a citizen goes about impeaching representatives of congress, the senate, or the cabinet?
As for Mr. Obama, I won't be voting for him again!
Mike
Claiton, PA
No different from the $700 billion bank bailout, under GWB, that we were told was necessary or the sky was going to fall.
Jack: An excellent question; and I would say that there is some psychology being applied, other than a charm approach, to force these Geritol abusers to do something other than express a constipated smile.....and they can't even do that right.
Gee, do ya think? When a salesman is screaming in your ear to hurry up and sign the contract before it's too late and never mind the fine print, you should consider that he doesn't necessarily have your own best interest at heart. Something smells fishy to me....
Crisis here, crisis there; that is how our elected officials operate nowadays. Of course, none will admit that they helped create a crisis, particularly the latest economic recession. And none will admit that they were warned about the current recession by Paul and others.Until the citizens of this country start to demand accountability, and honest representation from our elected officials, nothing will change.
It's a crisis either way. The only option he has is to institute a package that can change quickly given a quickly deteriorating situation.
He needs to view this as a military endeavor. As they always say, "no battle plan survives contact with the enemy". If we get a financial plan that cannot adjust to a constantly changing situation we will lose this battle. If we do have something flexible we have a chance but I am not hopeful. I fully expect this country to mirror Bolivia in 2 years.
Creating a crisis? You have to be kidding.......when President Obama first walked into the oval office and saw the "in" basket, he must have felt like he had just walked into a "Crisis Are Us" store. He certainly doesn't need to create a crisis......there were plenty of them waiting for his attention the minute he walked in the door.
Any crisis the President might create would be pretty piddly compared to the one we're already in.
Not Jack. The crisis was created by the Bush and The Republicans.
President Obama is trying to SOLVE the crisis by lighting a fire under
congresses' fanny. That's all, Jack.
No Jack,he is not creating a crisis in order to make congress act. One already exists and is growing worse by the day. Let's all hope with President Obama's new team that they can come up with the right solutions. We are in dire straights.
Obama and the democrats in Congress are saying we need a stimulus plan but according to the OMB the stimulus bill in Congress spends only 12% of every dollar to actually for stimulation. The bill is filled with pork and what Congress seems to ignore is the fact that the money will have to be borrowed and that debt has no hope of being paid, so interest will have to be paid on the bonds each year in the future.
Wait till Israel takes out the nuke reactors in Iran. That's when we are going to see Obama and Congress walking very tightly hand in hand.
A big NO Jack. Lets all face it we are all either in Crisis or close to it.
There is a Crisis that took eight years to build and it is real he sure does not need to create one we have a hudge one going on now. He is just trying to light some fires under the ones that will not act.
The crisis was there before him. why would he need to create one?
What kind of crisis could he possibly create that is worse than the one that George Bush's eight years has left us? We have two wars, Gitmo, greedy banks, almost bankrupt auto industries and Israel and Palestine at it yet again. As I said, what could he create that is worse?Armagedon??
Are you high? The country is sinking into the abyss, the economy is in the toilet, and you think Obama needs to create a crisis? He has inherited the biggest mess in history and we need action sooner rather then later. All the Republicans can do is obstruct, and the Dems seem to have a case of being mutes! I say get off your duffs and get this situation addressed or go home, because your not part of the solution but part of the problem.
Crisis...what crisis? Fortunately, Obama will push for improvement. Bush put blinders on and said everything was fine. It's obvious republicans do not like the medicine to treat their illness of the past 8 years. Bush's policies went a long way in making the U.S. a third world nation.
With over 80,000 people losing their jobs in the last two days only a blind man or the GOP would think there's no crisis.
Where did that question come from? How many millions of people out of work? Believe me, it's trickling down mighty fast through the entire country. Crisis is an understatement.
Isn't that the way it's always done? Congress lacks the cohesiveness to accomplish anything, other than enact pay raises for themselves. It is so sad to watch this fine country deteriorate while our elected representatives behave like infants, how very sad.
Yes! Haste makes waste,..
There has been a crisis now for a while however if it is perceived he is creating one then I applaud him for trying to be proactive while the republicans are busy trying to stop his every move. Are there any republicans in either the house or senate that care one iota for the problems facing this country? If there are please tell me who they are.
President Obama is smarter than congress. He'll trick them into doing their jobs.
He doesn't have to create a crisis, he has plenty to choose from, courtesy of the Bush Administration. As far as congress is concerned the majority of them are egotistical, overpaid nincompoops with no idea how the rest of the country lives. Someone needs to light a firecracker under the lot of them. I wonder what it will take to get these birdbrains to stop posing for the cameras, and get the peoples work done.
No, I don't think President Obama needs to create another crisis. He has been given plenty of them by the Bush Administration.
Allen
Mountain Home ID
Yes .Obama wants the congress to act quickly so there is no time for debate and no time to trim the PORK;;
In the last 48 hours, 70,000 people in the USA received pink slips. Home foreclosures are still on the rise... We have over 3.6 million that are unemployed and many more that are poor, starving and homeless. Banks aren't lending to anyone and money is scarce all around. Obama did not create this mess nor is he creating a crisis to force Congress to act. We have a bunch of old, stodgy Democrats and Republicans in Congress who are playing games with the lives of the American people and they need to get off their butts and do something. We need help and we need help now.
signed,
Patricia in Nevada (where unemployment numbers are 9.1%, 5th worst in the country.)
Jack, no one should have to force congress to act after the tragedy of
the man who killed his beautiful family then himself yesterday in CA
because he lost his job. I believe this is only a sign of things to come.
So scary, Jack. And Oh, so sad.
As far as I know, Jack, the Obama administration hasn't laid anybody off. Up to 80K jobs having been lost in Obama's first week as President is a good indicator of there being a crisis and not even republicans are blaming him yet. Of course, they have a solution- stop deficit spending and increase tax cuts for the wealthiest. Yeah, right.
yes..it's about time because congress need to him very seriously because he wants the economy to rise and not having citizens of this country continue to suffer..president obama is working for the people as well congress too..grow up congress and start doing your job for once..
He shure is Jack. Every thing was just fine until this Obama guy showed up.
Is the Obama administration creating a crisis to force Congress to act? No, he is trying to stop the crash from happening. Capitalism is like a jumbo jet – Fast and carries many people. But right now it is out of fuel and losing altitude. Passengers in economy class want a vote for in-flight refueling and the few in first class refuse unless their champagne glasses are refilled at the same time. The point is, at a time when hundreds of thousands of Americans are unemployed and hundreds of thousands of American homes have been foreclosed and more in Foreclosure, The Republican Party is still chanting “Reaganomics, Reaganomics.” Their only concern is lowering taxes on the rich and reducing government regulation on the economic institutions (Banks and Wall Street) while the majority of hard working Americans are in pain. This kind of greed caused the Communist Bolsheviks Revolution and the Great Depression. Reaganomics created this crisis and the Senate Republicans ignore the nose dive.
It is literally impossible to overstate the gravity of the crisis this country is in. I know Obama is aware of the scope of the problem as he spoke of it sufficiently during the primary to so indicate. What I don't agree with is how he is addressing it. He needs to speak directly to the American people, tell them how dire the situation REALLY is, based on the best hard fact based evidence to date with weekly updates to follow as further information is collected and lay out the truly radical changes that need to occur to meet the challenges ahead.
Tell the American people he will provide them with the BEST hard evidence and information possible and that they have a choice. Endless war and strive, expended resources and lives on a mass scale, all in an ultimately futile attempt to secure OTHERS fossil fuels and minerals or a country wide mobilization without reservation to make this country 90% self sufficient in all ways. The TECHNOLOGY already exists for this to occur, it only needs the natonal will and someone to lead to make it happen. Obama has to INFORM the citizens and then ENLIST them in the effort.
You look at my bank account, and the lack of funds in it, and tell me with a straight face that we aren't in a tough time.
My wife lost her job in November. She hasn't found anything since, and it's not for lack of trying. I've been trying to trade up, but nobody is hiring right now. Meanwhile, we still have tens of thousands of dollars in Student Loans, which we've had to put on deferrment because we can barely afford to pay our rent, eat, and keep our lights on.
And we're doing better than other people in this country.
So is there a crisis? Nah... let us eat cake.
No I think he wants to work with both parties but unfortunately their strong egos won't bend.
The Supreme Court created the crisis when rather than let the majority of votes choose the president they instead appointed George Bush.
No drama Obama is notoriously about solutions to crises and not about creating them.
Obama is creating an environment of inclusiveness and hats off to him for meeting with Republicans in the senate and house. Nancy and Reid should back off their attitude towards Republican ideas on tax.
The crisis has already been created by the Bush Administration's Neglect of America's needs. President Obama is merely trying to right a sinking ship.
I don't know if this is the stupidest question you've ever asked, but it probably makes the top five.
Barack Obama has been President for a week, and you're suggesting that he somehow created this crisis? Only George Bush can create a crisis that quickly. This crisis has been simmering for over 20 years while Obama was in college , and boiled over a few months ago, while he was a presidenial candidate.
Are you suggesting that if Congress does nothing, there's no crisis? Gosh....they do nothing pretty well. Seems like a no brainer to me. Maybe if we paid them more they'd no nothing a bit faster.
Have you been listening to right wing radio or something? 2.6 million jobs lost last year, and another 500,000 lost this month, banks in free fall, consumer confidence shot to hell! President Obama's only been in office a week, the thought that he has created this crisis can only come from the right wing nut jobs.
Your kidding, right, Jack?
Look around you.....job loss is at its highest record in history.....people are losing their homes at a record rate.....people can't afford prescriptions, doctor's visits or to send their kids to college, the middle class has all but disappeared......
Does Obama (or anyone else for that matter) need to "create a crisis"?
Please don't repeat the Mantra of the GOP who feels that "the Economy is fundamentally sound".
Its getting Ulgier out here every day.
Given the number of jobs and houses lost in the last 4 months, it seems that the crisis was created by Bush/Cheney and the Republican policy of protect the rich and who cares about anybody else.
The term "middle class" suggests that the other two classes are of equal size. In fact, working America, whether white collar or blue collar, made up the bulk of the population in the US. This group is rapidly sliding into the lower economic class while the upper economic class appears to be doing just fine.
Economic revolutions have been the result of middle class action. The Republicans tipped the scales to guarantee that this group is too threatened by financial disaster to pay attention to the machinations of the Wall St and banking kings to demand reform.
President Obama, as stated by "The Onion" on January 21, is the black man who got the worst job in America. He isn't creating a crisis; he is trying to stem the disaster caused by arrogance and greed among those allowed to play with the future of the great majority in the country.
Yeah sure the Obama administration are creating the crisis by asking all the employers to layoff all these millions of employees. Then they are going to all the financial institutions and asking them to foreclose on the delinquent mortgagees.
It would take drug induced rantings and ravings of some neocon fat cats to try and blame the current administration of creating a crisis rather than recognizing an entire generation is on the verge of disaster through their own failed policies and ideology.
He's following in the footsteps of his role model GW. Rush questionable fixes through without thinking things out. We've seen and are experiencing the effects of the bailout.
The smell of mendacity is in the air....his tax evading Treasury Secretary helped write the TARP package along with Paulson....and now he's suppose to vital to fixing the problem...hmmmmm.
Seems to me we've been in this recession a lot longer than President Obama has been in office......and it seems as though the die-hards of the Right Wing are going to fight tooth and nail....just to show what a 'man' they are......................
The crisis was already here when President Obama took the oath.
Someone on a morning show (last week) said something to the effect that Bush left Obama with the Oval Office full of hand grenades and the pins were already pulled.....
Rather an astute observation methinks.
Of course he is.
That is how Liberals function.
Once again, nothing has changed in Washington DC.
Wake me up in four years to vote again.
Obama does not create crisis; it is here. Every one knows but the dump Repub. Congresspeople & Senators.
International & USA crisis created by Bush & Cheney and both Dem & Rep House & Senate. President Obama just reminded them because they pretend to forget.
Jack,
Obama will one day be known as The President of the People. He will act in the interests of Americans, and force Congress into action when needed.
The first time Capitol Hill plays politics with Obama, Americans should have a Washington Tea Party and dump their duly elected reps in the Potomac.
Silly question, Jack. Anyone who hasn't been comatose for the past eight years knows the irresponsible hubris and greed of the Bush/Cheney regime is primarily at fault for the disaster we are facing.
President Obama is just telling it like it is, without sugar-coating or evasion. We can either face the truth and act on it or bury our heads in the sand and hope it all goes away. If so,we will wake up in a few years and find we've become a third-world country.
Jack,
I thought you were smarter than this..what kind of question is this??? President Obama has been president for a week and some change..Jack, seriously, are you getting cozy with Sean Hannity????
The sky is falling.... the sky is falling....bull.
Congress is the problem not Obama. Congress got us into this mess. Every member in Congress is just useless. Let's hang each one of them publicly.
At the beginning of last year we were told we needed an immediate stimulus or else, and $168 billion was distributed as tax rebates and nothing got better. Late last year, we were told we needed a bank bailout immediately or else, and $700 billion was spent, and nothing got better. Now we are told we need an immediate $825 billion stimulus or else... Maybe it's time we waited to see what 'or else' turns out to be.
YES
What are you talking about "creating a crisis"? The crisis started long before he took office. He's not creating anything. He's trying to get congress to move on the subject instead of let them dawdle because they're hoping that the move for a stimulus pkg will just eventually die off.
Its not exactly the first time Congress had tried that.
He's trying to make them not get up to their old tricks.
Good for him. Someone needs to smack Congress upside the head for behaving like whiny children for so long.
No the crisis was preexisting. Speed is essential but so is care – I hope someone reads the Act before final passage. We can thank Lou Dobbs for contributing. There has been some criticism that some proposed items will not create instant jobs – this is a consideration but not disqualifying – worthwhile projects may take a little longer.
Jack
Barack Obama hasnt created anything he has inherited this crisis from the Bush administration, and I think we can go back to the Clinton years for some of these lingering issues.
No – it's real and has been for at least the last two years. If our representatives had ever bothered to leave Washington and come to the midwest they may have seen it then. My question is – are the banks repaying their loans from the people at the same interest rates they are charging for the people to use credit cards (15-30%)? More likely they're repaying (if at all) at the rate they're giving people who are lucky enough to have a small savings account (.25-1.6%) Perhaps the banks should suspend charging interest for a couple of years to help people get out of debt. Also, they can drop the mortgage interest rates to 0%. It won't matter. Banks will not refinance someone who has no job. Banks will not refinance if your house is no longer worth what you paid for it many years ago and you have now lost your job. Are the banks refinancing without closing costs (sometimes amounting to thousands of dollars)? How is someone without a job going to come up with the money if they even get the opportunity? The government can figure all kinds of ways to help homeowner, but without a job nothing will work. I don't understand the theory that companies should be given incentives to keep jobs here. Why aren't they penalized for not doing so! The answer to the crisis is one thing – jobs.
The crisis existed long before Obama came on the scene. This mess is the direct result of trickle-down economics. Think of trickle-down as a ponzi scheme, only substitute the voluntary contributions made by individuals to the ponzi crooks with the involuntary income taxes forced on us by the Government and paid to the Infernal Revenue Service. Occasionally, a ponzi crook gets caught, loses his assets, and goes to jail. Do you think if we put bars on all the windows and really big locks on the doors, we can turn the halls of Congress into a jail?
Jack–
I hope it would not take a crisis of this magnitude to get Congress to act, but based on their recent track record, that may be the case. Someone needs to act and soon, or we're going to be talking about our economy and our way of life in the past tense.
Troy, Ohio
Jack, the difference between fantasy and reality is PAIN and we've been living in fantasy for a long time in our society. Now we must live in reality which is painful. This siituation of ours didn't happen in the last 8 days but started January 20, 2001, by the way that's the day W took office. I only hope that the people in charge of corprorate America and especially the manufacturing companies are proud of themselves as they took the greatest country in the history of our world and are bleeding it dry.
Jack, unless you have lived the past two or three years in the jungle of the Amazon, you can´t possible state that President Obama is "creating" this crisis. What the President is doing emphasizing the urgency to do something drastic to get out of this mess -the sooner the better, before it reaches a point of no return and we enter a recession only seeing in the 1930s.
These politicians need to grow up and try to get our country back together. The republican party sure do have a short memory as to what got us in dire straights to begin with. The past 8 years have been a national disaster unless you were part of the pack. People are suffering and these elected officials need to put politics aside and do something constructive for a change. If they continue to dally around I for one hope they all lose their next election.
I have a better one for you, Jack.
There is a better bet that the Republican party HAS created a crisis that is forcing itself to become extinct around the year 2012.
Jack,
Perhaps a crisis is the only situation that gets our congress to work for us!!! (and that is even a question right now.)
There one thing on which I would like to make a comment.....I heard a report the other day which stated John Boehner instructed the congressional Republican to vote against the stimulus plan.
UMMMMMM shouldn't they vote according to their constituents’ preferences?????? Talk about childish, stupid, and cowardly.
No, just the opposite. Congress, and democrats created a crisis with Fannie Mae and Freddie Mac offering mortgages to those who coudn't pay them back. President Obama will have to act becasue of the Congress and their ineptness. Here again we can thank the comedy team of Pelosi and Reid.
The crisis, as I see it is the lack of oversight on the money being spent on the crisis W left. Why isn't congress putting extreme pressure on AIG, Citibank et al, to prosecute and/or get fired all those at the top that continue to hand out bonuses to employees at failed companies. I, for one, am disapointed at MY Democratic congress. I want severe penalties for those thoughtless executives that know that they can still do what they want while hard working Americans suffer.
Wouldn't it be nice if we could lay off Pelosi.
David, Las Vegas
Republicans just have too much pride to admit their policies of the Bush era, and big business controlling Washington is why we are where we are today. Simple as that.
That train left the station long before Obama became President. The crisis is very real but Obama did not create it. Bush and his GOP created this crises over the course of 8 years of elitist policies that feverishly dismantled the good things about this nation which were not in need of reforming and promoting policies which waged war against the middle class. Unfortunately, we do not have a congress that will actually do the things that need to be done in order to fix the national economic messes of the Bush administration. These people are simply beholden to their wealthy corporate handlers and keepers who throw money at them. As long as that is the way business is done in Washington, our Congress will continue to be out of touch and continually take the path of least resistance towards any challenge this country faces. It will take something else altogether to get congress to act.
HD in Phoenix, AZ
I don't know which half of the question is stupider. The idea that Obama created this crisis or the idea that Congress will act?
jack, just look around. 70,000 people out of work in one day! I don't think he needs to "create" a crisis, we are already in one. oh and buy the way, if anyone "created" a cirsis , it was bush and the treasury department that did so and with no plan. just pump money into those
companies and ceo's here.
Hi Jack,
President Obama is trying to force a "do nothing" – bickering Congress to act responsibly to save the American economy. I sincerely hope is is successful.
Jack, this crisis started before Obama was born. History shows that we as a society have been living above our means ever since World War II ended. We could have maintained our number one ranking in manufacturing but NO, greed of the big corporations has led us down a path of slow but painful destruction and he is trying to stop the bleeding.
What kind of crisis can Obama create that's more than what we got from George Bush? The Republicans stood by GW 100% of the time and have now refused to give Obama a minute chance. The Republicans don't have any compassion. The numbers are growing every day and they count people that lose their jobs as just numbers. Not realizing that these are human being who are going through tough times that they helped craete when they supported GW. Jack, the cirisis already exists. You can't make it up. They are there and they human beings. Some have already committed suicide. That's how bad it is.
Obama and the other Democrats want to rush the Bill through,before the Public gets a real look at it,and there is a public outcry not to pass it.Obama promised NO PORK and the bill is full of PORK,550 billion dollars worth of spending that will not create jobs or help those already out of work.Pell grants so we have more out of work college kids,Endowment for the arts,Medicaid for states that can not control spending on Illegals,free tution for Illegals.New cars for Congress,Etc Etc Etc. PORK,PORK,PORK.
Somebody has to use a crowbar to get Congress to act. How about an Obamambar. It is going to take strong leadership to right the ship and get it sailing again. Lead by example, Mr. Obama. That means prying to the right and left. to get this mess moving straight ahead.
Obama did not create the crisis but I do believe that he is stirring the pot a bit too much. I worry about what is in that package,
No, the Bush regime's chosing to pretend the economy was strong and vibrant when it was in freefall created this crisis, Obama is mearly left holding the bag, facing down republican obstructionists and working for the good of the coutry. It's been so long since our government worked for us we have trouble believing it.
NO, Jack, President Obama is not "creating a crisis"....... I wish this crisis was just someone's "creation"!
The crisis is called, the Bush Disaster. And Obama inherited the mess created by eight years of failed policies both financial, domestic and foreign.
Yes we can, and YES we will recover!
Jack, the crisis was created by the Bush administration. The bigger crisis will be Congress not acting. Since the congressional Republicans are still in Bush mode, Obama may have to leave them at the station when his stimulus train pulls out. All aboard? I doubt it.
Jack, I sure hope so. Someone needs to light a fire under Congress' butt in order to get them moving on this economy. The jobless lines are getting bigger and homeless shelters are overflowing. But Congress fools around in getting a bill passed that would send help. Some of them should be made to live with the people they represent for one week, who are struggling to keep a roof over their head and food in their stomach. Then they might see the need to act in a more urgent manner.
Seems to me Jack, that there needs to be a crisis for Congress to act......period. Obama has nothing to do with this crisis. Hey Jack, I need a manufacturer to make me GW Bush punching bags, I've been unemployed for over a year now and I think maybe I could make some money off of them.
Jack, you have lost me on this one. The "crisis" was created by the Bush Administration and the Congress over the past eight years. This crisis was dumped on the new Administration not created by it.
Jack,
If the sky is falling, the sky is falling. Who better than the President to state that fact? Sometimes Congress needs a proverbial kick in the butt to get into action. The President is urgently administering one.
The "crisis" exist. The question should be "how much delay can we afford to try and find the "correct" solution". We all got pushed into acting "on faith" much too quickly with the T.A.R.P. funds. None of us (at least the taxpayers) want to repeat that mistake......
I am prepared to agree with the majority posting to this blog, we already have a crisis, that is why Senator John McCain isn't now PRESIDENT John McCain. That is why a whole lot of GOP lost Congressional seats in the last election. And given their own continuing ideological stances to oppose Obama at every turn, they still haven't grown up enough to consider that their political ideology has a lot to do with this country's financial situation and that ideology is now something we can't afford.
When and only when this nation is prosperous again, can the fanatical fringe go back to bickering about their pet issues.
Obama is as responsible for this economic Titanic as much as he was for building Noah's Ark. So the answer is no.
Looks mroe like he's giving them enough rope to hang themselves with.
The last time I checked, the "crisis" was waiting at Obama's doorstep when he got to the White House on January 20th. Mr. Obama didn't have to create a crisis, he inherited one.
I don't think Obama is but Pelosi and Reid are. Don't misread this question. Obama did not crate this crisis, everyone knows that. But what is scary is the rush to approve this new money when we haven't completely spent the money Bush authorized and were the heck did that go? If there is even one more item ilke that 200 million for new sod in this proposal, I want someone to review this line by line !!!!!!!
Take an extra few weeks and get this right !!!!!
Oh and Pelosi, your it's my way or the highway attitude has to stop.
Jack, I don't think anyone could create a crisis worse than there already is. Over 70,000 more jobs gone and more will be named this week. I remember when the Help Wanted Ads were like magazines, sometimes two sections of the Sunday Paper. Now, you're lucky if there's three to four pages. We're past a crisis!
The truth is there isn't any crisis if you have a high paying job with lots of employment security, no bills to pay, a roof over your head and food on the table.
The only people who think there is a crisis are those who have lost their jobs, lost their homes, taken their children out of college because of a lack of funds and can only eat what the food bank gives them. I guess you could also throw those people in that went bankrupt trying to pay off their medical bills as well.
If you think Obama created the latter then I guess you should blame him but if not then blame those that went before him and those that oppose him now.
This crisis was created by bush and the republican congress when they gave huge tax cuts to the rich and started their wars that rewarded corporations. Now bush is gone and the republicans are doing everything they can to make sure Obama fails. I told my wife that I thought Obama was a fool to run for president and when he won he should have declined to take the job. We are in a terrible situation and no one is doing anything to try and fix it. We are doomed.to become a banana republic. Get used to being poor and hungry.
Jack, who cares what or if he is creating a crisis, What will it take for these do nothing but fight congress ,EMPLOYEES of OURs to react?Obama should let us all know who these do-nothings are so we can vote on it later, we'll remember.
Regarding the unprecedented number of layoffs-if President Obama had anything to do with that, then he truly is the Messiah as some people have joked. Therefore, if he is the Messiah, then thank God we put him in public office because he knows how to fix it. The reality is President Obama was handed a broken toilet called the U.S. economy and he is taking the plunger to unclog the crap the GOP has put in there for eight long years.
I think it is the other way around, Jack. Congress and the Bush
Administration were instrumental in bringing this nations's economy to it's knees, and President Obama is calling it like it is.
Now whether the solution to this is to bailout or ignore it and it will go away.. Only time will tell.. but we do have alot of informed consensus that says we need to do something and at this point, I support a bailout, despite Republican politcal wrangling and their feigned indigantion about HOW, that should be accomplished.. so that they can appear to have relevance.. NOT!
In the past eight years Bush shredded our constituion, ignored the geneva convention, practiced irresponsible fiscal management, started a war with lies and deceit while the republican congress rubber stamped whatever this snake did until he slithered out of Washington on 1/20/09 leaving Obama with dozens upon dozens of disasters to try to clean up. Obama is acutely aware of these problems. Now Pelosi, Reid and the republicans have the audacity to criticize his attempts to start the repair process after they turned a blind eye to Bush's incompetance–how dare them!
No, Congress has already taken care of that. Get rid of all the pork, special interest and lobbyist and the country will recover. But, consider this. Since the Democrats are in control, the Republicans will fight them every step of the way. If they work WITH the Democrats, that will make the Democrats look good and they will never get back control of Congress. The Republicans are only interested in their jobs, not the taxpayers. That's the real bottom line here. We also need term limits for Congress, just like the President.
I don't see anyone else on Capital Hill coming up with any bright ideas... it's a shame that this is how far the country has to fall in order to force its most powerful leaders into action.
Are you kidding? How has Obama caused businesses and retail outlets to close? How has he caused utilities to rise so much that families are force to live without power? The record unemployment numbers are his fault? The crisis we are experiencing is REAL, but I don't understand how Obama created it.
There is a difference between creating a crisis and recognizing a crisis. It is nice to know we have a leader that not only recognizes a crisis, but is doing what it takes to help other branches of gov't to not only recognize it, but to take action. This is what is known as leadership, a quality not seen in these parts for a long time.
Where were those Republicans with the big ideas last year? Isn't it funny how 'all of a sudden' they have the right plan and the President does not. I believe they simply do not want to support this black man because they have been so bad all these years and can't handle the fact that he is working hard to make things better for us.
I hope they vote no and the bill passes and becomes the most successful bill ever passed. Then those Republican clowns will be voted out the next go round.
Jack,
I don't think so, this crisis was created by insane Republican policies that can be tracked back to the era of former President Ronald Reagan. The Obama Administration is only expressing the turth to get the Congress to act in order to help the Country...
Central Islip, N.Y.
Jack,
Excuse me! Obama inherited a crises of greater import than this country has experienced in 70 years. All of which could have been prevented if the Bush folks had done their jobs ... things like pay attention to predatory mortgage practices, the dim-witted purchase of these mortgages by financial institutions, and the stupidity of reversing federal surplices with a tax cut to the wealthy. Oh, by the way, Bush spent a ton on a war that never should have happened.
I hope I live long enough to read what historians have to say about this era. But to say that Obama created a 'crisis,' you have to be kidding, right?
Rick, OH
Jack, it may not seem like a crisis from where you sit, Obviously it was for the Man who killed his family yesterday. Is it me, or are you bloggers getting a little disturbed with your questions. People are starving in this country and you don't believe there is a crisis???
The only people who will keep jobs will be the Military to protect the Government when we all start protesting! By then it will be to late!
If forcing Congress to change creates a crisis for them, I say the Obama administration is doing exactly what he campaigned to do, change the way business is done in Washington.
How in the world can President Obama be blamed for this mess? I knew the Republicans would try to do it ,but you too?Say it isn't so,Jack.
COME ON PEOPLE, Isn't that the name of Cosby's book... on th epath from victims to victors... President Obama was not in office during this build up to crisis..... or have you been listening to Rush again..
Obama has no need to create a crisis, the Republicans have had eight years and have been hard at work doing just that. He seems to be doing his best to find solutions to their messes.
The crisis has been here for a while, and has been coming down the tracks since 1981. Reaganomics in the eighties and Reaganomics on steroids the last eight years.Most of us quit keeping up with inflation about 2001, survived on savings, then on borrowing against our inflated home prices. Now we are running on fumes. It is evidently not a real crisis until the stock market tanks and banks close. If you need Obama or anyone else to tell you its a crisis, then you are not living in my world.
Republican Lies:
-The crisis was caused by companies offering mortgages to people
who couldn't pay them back. (BecauseThey lost their jobs?, ).
-The crisis can be solved by giving the rich and business more tax cuts so they can create new jobs(snicker). (Companies are LAYING OFF
workers, not hiring).
Jack, will you kindly relay this message to brilliant Boehner (wink,wink) and the republicans?
Jack,
I'd bet the farm you already know the answer. Obama inherited the crisis from our former straight-talkin' president George W. Bush, who squandered billions of American dollars on funding armies and manufacturing expensive weaponry for the war in Iraq.
No, Bush created a crisis every day he was in office and Obama is there to clean up the mess! Anyone living in "real life" America knows how bad things really are! The house of cards has collapsed!
Jack!!!!!Where in the world did you come up with such a dumb question? This crisis was created by the Bush administration, and to even suggest that the Obama people are perpetuating it is an insult to them and to all the folks who voted for him. Shame on you Jack.
Fear mongering is Washington politics as usual. But so is horse trading and back slapping and campaign donations. It's just a huge game and the public gets to pick up the tab while the princes and princesses play oneupmanship. It's time to wipe the slate clean and start over.
Exaggeration, I don't think so. People are hurting, or should I say average Americans who worked-are now not working. Savings are being used to meet everyday expenses. The failure of Congress to act should be punishabble as a crime against this country. When will they get it, Obama won, the people spoke and they need to take action quickly.
Obama doesn't have to exaggerate the economy when half of the nation is out of work and the other half is wondering when the ax is going to fall on their neck.
it's republican spin.
Jack,You been listening to Rush to much lately? He's the only person I've heard blaming this crisis on Obama. As for whether the crisis is genuine: over 120,000 Americans have lost their jobs already THIS WEEK, and it's only Wednesday. Is Obama pushing congress? I sure do hope so, as it's long overdue. In fact, I hope he's wearing steel toed boots while he's over there kicking posteriors!
I do not think this crises created by Bush and the Republicans can possibly be exaggerated. Could you media people please keep some of these Republican retards off the air for a little while and let the Democrats try to solve the problem?
NO !!!!!
If that's what you want to call it yes but what else can you do to get this going.
This one's easy. No. After all, we lost what? 100,000 jobs in the last three days.
It's only exaggerated if you have a secure job. Now let's see where can we find that? Maybe you can answer that when CNN announces their layoffs. Do they really need someone who asks three questions a day?
Have you been out in the real world lately? Have you seen the real people losing their jobs? We hear about layoffs at Home Depot or Microsoft, or countless other corporations and business around the country and we forget that it's not just number. It's not just jobs. It's peoples lives and homes and dreams. We are talking about real people who worry about losing their homes, just as I am. It' families and couples who have that "what do we do next" conversation nightly at the dinner table. It's the guy collecting unemployment and willing to take any job just to feed his family.
Exaggerating? What, are you kidding? There are no words that could explain the daily horror millions of people are experiencing because GWB spent 8 years not paying attention.
Jack,
This crisis is getting ready to explode, with more jobs being lost each day. President Obama wants to move on the Stimulus Plan ASAP. Do we have to appropriate the $825 Billion taxpayer generated initiative
all at once? Why not take immediate action on worker paychecks, and
rejuvinate small business incentives, and immediate health care, to
start improving the economy, then Congress can further evaluate the
remaining items on a priority basis, and further eliminate the pork. Leo
No way Jack! What I see going on around is serious, and I feel for all those people loosing jobs by the day. This crisis is serious, and we need to stop the bleeding asap! If President Obama is exaggerating, then Ali Velshi of CNN is doing the same thing. I recall many critics saying the same thing about him, but he was the first one to tell everyone that the situation is a crisis and needs to be dealt with IMMEDIATELY. GOP get your damn act together!
If you think Obama is exaggerating the economic crisis, you have not been in the swimming pool yet. BBBBRRRRRRRRRR!!!!!!!!!!!!!
Ray Kinserlow
Lubbock, Texas
There's no need to exxagerate, Jack – it's THAT BAAD! Never, ever thought I'd be looking for some form of help from the government but now we're listening intently to the proposals for an economic recovery package and wondering if any part is going to help us: two 60 year old professionals who have recently been laid off from our respective companies, with our 401K's in shambles, and no hope of being re-employed in the immediate future but not old enough to take retirement or qualify for Medicare. After a lifetime of working and doing the right things just list us as part of the angry middle class. George and Laura are moving in not too far away from us in Dallas and our tax dollars will be paying for a gate to be erected to protect their house and street from public access, so I guess they're not completely clueless afterall about how much anger and resentment is out there. M.J. from Dallas, TX
Obama inherited this mess.
Boehner says that his grandchildren wll be inheriting Obama's plan.
Well, guess what! Boehner and the republicans didn't care who would be inheriting the mess they made and supported during the Bush Administration by giving their friends tax breaks and spending like drunken sailors. I'll take the Dem's plan over Boehner's anyday.
As I sit here eating my bean soup, perusing the help wanted ads and trying to figure out how my unemployment check wil cover both my mortage payment and health care this month, I'd say NO, Jack.
Jack if forcing the congress to act in a sane rational way is a crisis. Then I say we need a much big crisis. What we need is for the American voters to continue the crisis in 2010 and 2012 and get rid of all the dead weight in both houses who cannot or will not look out for the good of all America not just the wealthy. Remember when the people lead, the leaders follow, so lets lead them to the unemployment line as they have led the people.
You mean "No drama Obama". I don't think so.
My husband who travels throughout the country regularly says you would never know that there is a financial crisis in this country. The highways are full and so are the malls wherever he goes. My daughter who lives and works in Arlington says the same thing. Here where I live, they are continuing to develop Lake Texoma and a new Super Wal-Mart is about to be built about tne miles away from us.
Since governments have always been notorious for creating chaos then pretending to bring order out of it, I can't help but wonder if this whole financial crisis isn't in the long run a way to dismantle social security and medicare. A pretended crisis could also be the reason why no indictments are being handed down with regards to the CEO's in the investment and lending industry.
Anyone who reads the newspaper and looks at all the foreclosed homes in our neighborhoods knows that there is nothing being exaggerated about the financial mess we're in. You know, maybe the foreclosure rate would slow down if there wasn't such a tax benefit for the banks written into the tax codes. Maybe they'd do what we all thought they were supposed to do and renegotiate some mortgages if it wasn't so beneficial for their bottom lines to foreclose.
Rich Green
San Clemente, Cal.
We could only hope,but this crisis is real. People are losing their jobs,homes,and futures this isn't like some WMDs that nobody could fine before or after the war started. We see the jobless rate climbing
and homes going empty this is the scariest senario America has faced in my lifetime.
L.M.,Arizona
He's not exaggerating the scope of the crisis, he's exaggerating the need to throw money the US doesn't have to a system that is broke and won't be fixed with any stimulus.
Sorry to rain on your parade, but this country is toast!
Obama has the strength to act on what he can change, the judgement to accept what he cannot change and the wisdom to know the difference.
No Jack, he is painting this crisis like it is.
not at all,this is the worst economic crisis since the great depression and president obama is trying to keep it from getting worse but receiving litlle co-operation from the republican congress.let us not forget that this current economic mess was caused by george w. bush and his incompetent administration
Jack, are you so bankrupted in ideas that you have to get your questions and topic from republican talking points. Stupid question. Afterall, why would Obama want this problem to solvr or promote any deficit adgenda?
DUMB QUESTION.
I know about 7 of my closest friends and family who have no job. SOMETHING NEEDS TO BE DONE, ASAP.
No, and I think the crisis is even worse than we are being told.
I have a theory. Bush & Cheney, seeing the rise of China and India, figured out the ultimate scam to make sure their friends and family were well taken care of when the bottom falls out. Obama attacked Bush his entire campaign, but during the transition suddenly found a friend in Bush, other than the not so subtle attack on inauguration day. I think Bush turned Obama onto the scam so he could take care of his friends and family too. Then they all live happily ever after when we sink. Now all he has to do is convince Congress. Ok, it's not my theory but Ayn Rand's from "Atlas Shrugged."
What's good for the goose, etc. How about the Republicans along with Bush telling us the terrorists were at our doorstep and it would be necessary to spy on Americans, torture anyone they choose and kill tens of thousands of innocent Iraqis, all because there was a crisis (WMDs).
If you've lost your job and can't find another, and on the verge of losing your home; he's being as slow as molasses just taken out of the freezer. If Congress doesn't help him (all of them) I except, come the next election, many of them will be without a job. Nothing as sweet as vindication.
Jean
St. Louis
The clowns in Washington have been acting for years. It is time to throw the bums out and put some common folks up there to run the country. In the beginning it was citizen politicians. Now there is professional politicians. Most of these bums has never done a days work.
President Obama does not have to exaggerate the crisis for it to be Mammoth. If people think that this is not real, they need to wake up and look at the number of jobs missing in the U.S. Have these skeptics been asleep while manufacturing company after manufacturing company packed up their equipment and left. Surely, they noticed the accent of the worker who answered questions about their credit card statement. Under employment and unemployment has caused our economy to be unstable to the point that it is critical now thus creating a crisis. We elected Pres. Obama because he got it – we have a crisis.
Exaggerating, no, not at all. Oregon has an unemployment rate over 10% right now. There are little to no jobs available. I have been unemployed for 19 months now, that is no exaggeration, its an ugly part of life for over 20 million Americans. What is sad is the fact that this week alone there we have seen an additional 80,000 plus jobs cuts announced this week alone. Jack this is reality, and a very ugly reality being faced by 20+ million and if things do improve real fast, there could be another 10 to 15 million more people added to the ugly boiling pot unemployment.
I don't think so, but I've been unemployed since Nov. 2007, so it looks rather serious to me.
Remember, it's recession when your neighbor is out of work and it's depression when you are out of work!
Ruth McInerney
Samson, AL
President Obama is not exaggerating the crisis but he is also not giving SPECIFICS about where this money will go and who will benefit from it. Nor are our congressmen, senators, or news media giving us this vital information. Once again, just like with the Multi-billion-dollar Bailout to the super-rich, Americans do not have enough knowledge about it to make an informed decision. Once again, it goes back to who we elect to serve us.
Brownwood, Texas
No, we are in one hell of a mess thanks to the republicans. Now jerks like Boehner is not satisfied with how the package is being put together and not taking the republicans input on how it should be done
Oh, sure he is. Tell that to all the millions of workers w/o jobs, those who've lost pensions, investment, now have critically devalued homes, those who can't make their house or car payments, lose their homes, can't pay for gas to get to work, those who go hungry every day, whose kids are all sleeping in a bundle at night because heating oil isn't an economic option! Oh, sure, we've all been punk'd!
No. I am so happy that he is showing the courage of his convictions. Keep on keepin' on, President Obama.
We're in a serious economic downturn, but President Obama is using it to his advantage. Most economist predict we will be on the road to recovery within 18 months without the $1 trillion stimulus but that doesn't seem to deter Obama and congressional democrats from spending us into the grave.
Exaggerating? Exaggerating?? Are you kidding me? Just look at the numbers of companies going under, people loosing their jobs, homes and life savings. Pres. Obama didn't create this. Let's not start blaming him for an ounce of this. Typical of the GOP to use smoke screens, lies and ridiculous claims to continue to bring this country down while they pad their wallets with what is left.
There's no need to exaggerate the crisis–it's bad enough as it stands.
Jack,
I suspect only Obama and his inner circle really know the answer. But I'm inclined to believe him. Everything I've been reading for the last several months on the economy tends to support his dire descriptions. We elected him President because we trust him to lead. So let him lead!
Jim
Reno, Nevada
Jack,
Thes crisis is definately real. Over half the houses in my subdivision are empty today and the value of both my house and my 401K dropped by nearly $20,000 each during 2008.
Soon I will have no money to retire on and a house that's worthless but will still be costing me to live in well into my 70's.
Life is good...
Mertis in Atlanta
Mr. Cafferty: Seniors want to know but no one has explained how this stimulus package will help struggling seniors on fixed incomes. Maybe you can help. thank you Harold C
The economists wearing the rose colored glasses believe that our economy will begin turningsometime around June. Jobs are still being cut (layoffs) and the banks are refusing to lend money, even after receiving TARP money for that reason. Obama is being realistic, moreso than Bush was about the economy. Republicans believe that more tax cuts and less regulation are needed to get us out of this mess. Funny, that is what got us into this mess. That sounds assmart as leaving the same people in charge of getting this turned around as got us into the mess and using the same practices will correct the problem. Is he exaggerating? Not in the least.
No. President Bush created a crisis that is forcing President Obama to act.
Jack, I don't think so. Pres. Obama is telling the truth about the state of our economy, and the Republicans still think that Reagan/Bush tax cuts are the answer. It really is a time for change.
Shmulik in Ohio
The same republicans who are making this spurious claim now had no problem handing over whatever bush and paulson claimed was needed to keep the country from going into a depression "worse than 1929". Nobody questioned whether or not paulson was "exaggerating", and the republicans were happy to give him everything he wanted without even a pretense of oversight. Most economists I have been reading say that tax cuts will not cut it. We NEED to spend money, and pay the debt back later. If we don't, there won't be a US debt to worry about, because the US, as we know it, won't exist. The republicans are playing their usual partisan, obstructionist party politics at the expense of the country. Big surprise, that's what they DO.
if tObama succeeds the Repulican party is done for. thats why they have to oppose him.Now after eight years of them ruining this country they say they have better idears?Must have been out to lunch or on vacation when this mess occoured.
Are millions of workers being laid off every month an exageration?
The crises are real and congress is not acting fast enough.
The Republicans have not been fiscally conservative over these years and we're all sliding fast because of their stuck ideas and not to be nit-picky is showing their inability to actually go FORWARD.
Let's get on with this already!!!
Jack, I am not qualified to respond to this question but the EMPTY EXPERT sitting in my hip pocket says President Obama is right on spot. Senator Jim DeMint can probably say "NO" because he has enough cash stashed around in his many homes or properties to carry him until the economy turns around. Oh that was Senator McCain. There's so many $ signs up there in the Senate you can't tell one Senator from another.
Anniston, AL
I agree with Anj. To my understanding, no one seemed to put up such a "fuss" when Bush got his money. This economy was exhausted when President Obama took office, and it is just a waste of time to ponder the issues of Americans in need. We need that stimulus package more so than the banks and CEO's...at least we won't use it to buy a private jet or wastebasket!!! We will use our money wisely to buy things like, uh, the necessities; such as medicine, food, and shelter...At least President Obama isn't keeping us in the dark about his decisions. At least we know where the money is going this time.
Dear Jack,
it is always encouraging to hear President Obama since his administration gets that we have to create a climate for workers and companies. Whereas republicans complaining now they had eight years to get it right What is wrong with France!:)
It is obvious that Senators DeMint & Inhofe haven't spent much time talking to their constituents. Either that or their heads are stuck up where the sun doesn't shine. The crisis is real and it will continue to get worse unless they and the rest of Congress get their act together and do something.
Is he exaggerating? You are kidding right? This dire situation is very real, unlike the weapons of mass destruction story that Dubya told us to get us into war with Iraq!
Of course he is not exaggerating the severity of this current economic crisis, in fact, I think that he is doing a tremendous job of being clear about the severity of the problem, but at the same time assuring us that we can solve the problem together.
I only wish that the Republicans can get it through their head that what the American people need now is to see unity and bipartisan solutions, or American confidence in our government will be further eroded, and much of what is driving this crisis is a loss in confidence.
Instead of gathering to lick their wounds after the election and brain storm how to regain their power in Washington, they should have been soul searching and working on how to resolve a crisis that they laid on the American doorstep
...Uh...Mr. Cafferty...come out of the office and walk on the street. It is not only ugly out there, but a complete mess with one catastrophe away from totally falling over the cliff into a third world country. It was created by years of greed by the haves that the last administration ignored and now has been left in President Obama's lap.
But that is what we get when folk vote twice for a guy whom they want to have a beer with instead of the guy who maybe boring but smart. President Obama has no choice but to do some things that he doesn't want to do like the price tag of the recovery package to try to get things on track.
I was very skeptical of the first TARP because it was coerced from congress with the same urgency and deception used to coerce congressional support for the Iraq war. That turned out to be a stack of lies.
I suspect Obama is being briefed by people whose agenda is not necessarily in the best interest of the American people or our nation. Isn't this exactly what happened to Bush.
The upper crust has made this perfectly clear by their continuing "fly in our face" spending with absolutly no regard for reason or moderation.
Government overspending will destroy a country's monetary system and the destruction of our currency is s necessay first step toward world government. We are being had.
I don't think so but, I don't think there isn't anyway to fix the problems.
He should be looking at ways to protect the voters when everything does fall apart (housing, food, medical care).
Guit trying to fix the unfixable. Let things run their course.
In Doubt go to your local unemployment office and tell the people there ,you think what President Obama is doing is a joke.
Jack,
In fact ,,I dont think he is telling the whole story ,,of how anything they do, wont really help us.
Davos, Switzerland today im hearing 100 Billion in Commerical Debt to come by end of year to written down.
Leaders saying 5 yrs until it starts to come out of this and even then it will be a different world.
Scares me!!
Jack: No!! Both investment banks and commerical banks are failing just like did during the 1929 Depression. The diference today is the commerical banks have the FDIC to protect accounts. Look at the idiots on Wall Street in 2007 the DOW was at 14,000, and today it is barely able to stay above 8,000. points. More people applying for food stamps, and more people visiting the local food pantry. The credit lines are barely moving to provide short term operating capital for business and industry. The economic boat is floating, but only because the pumps are working overtime to keep it afloat.
John from Alabama
No he is not exaggerting just ask the guy without a job or the guy trying to make a morgage payment or worst of all the family thats in the street with no home while republicans in congress play political games. Harold
No. President Obama isn't exaggerating, he is simply helping the country re-learn how to face reality.
If you recall, our illustrious senator from S.C. was one of two to vote against Hillary Clinton to be our Secretary of State. He voted against the bailout. He votes against , period.
In the words of Joe Biden, are you kidding? Of course our socialist president Barack Hussein Obama is exaggerating the crisis. So did Henry Paulson and the Democrat controlled congress did on the financial crisis. This crisis ids due to the failure of AIG and Banks who made sub prime loans. Now that they were bailed out, they won't lend money to businesses. Once that gets back to normal the crisis will be eliminated.
No. no. no. If anyone thinks that, they should come and live in my shoes in my town for a month. This crisis is no exxageration of anyone – its the real thing.
Jack,
Well if I relied on Demint and Vitter to help us , Id be standing on the corner holding a sign, Im for hire!!
Wasnt it the Republicans who started this mess, like 1983 Trickle Down Economics, and no it has come full circle.
And all we keep doing is more of the same!! even Obama!!
Sad!! We hoped for change and are getting nothing!
What do you think Jack?
Are all the economist, ceos at the white house &job loss reports exaggerated? conspiracy!!!
The man is doing his job as the ceo of America.
Why can't you appreciate it & just say thanks.
You have been criticizing him after he has been elected.
Since president Obama is making all the right moves, you in the news are running out of stories & now making things up.
Maybe you guys did deserve Bush.
The American people do not. We finally have a smart strong man in the office.
Let him do his job he was hired for & try to remember what it meant to be a journalist.
JC
Los Angeles
Maybe he needs to in order for them to start moving on the file. They have to stand up and pay attention! Aren't these the same politicians who last year spent an inordinate amount of days and time grilling the baseball players (who took what drug, who was at whose BBQ party etc) while the economy was going 'to pot' ( pun intended)?
Jack,
I would imagine there will be Three Crosses on Capital Hill before this is all over. One for Obama, one for Pelosi and one for Reid!
Our hopes too high and dreams to big!
Jim is DeMinted.
Well for some who have jobs and can afford to pay thier bills, they might not think the situation is as bad as the President says it is. But for others who are out of work and can't pay thier bills and whose house is being foreclosed it is worse than he say's.
I guess it is all in the eyes of the beholder, so to speak. I would rather he err on the side of caution and try to nip this before it goes any further.
Is CNN exaggerating the jobs losses that they have been reporting on a daily basis? Then that is my answer to your question Jack. An upper case N and an upper case O.
NO! The problem is bigger than anybody realizes, we are indeed on the eve of destruction. We are on a elevator going down and there is currently nothing that is going to stop it. Obama is too conservative at $825 billion. It's like running out of gas in a trip from Seattle to Billings, Montana and you are only putting in enough gas in to reach Helena, Montana. When you get to Helena, the Republicans well scream FAILURE. Put enough gas in there to reach Fargo and pray we get there or suddenly it's 1934. Economists are right....$825 is too small and we well probably fail as a result. These are not your household accounts, forget about the debt for now. If we have to we can just print the stuff. As long as money supply does not exceed supply of goods, no problem (fix it later). It's dis-inflation (depression) you need to fear. That and Republican ignorance on economics. Ralph, Yakima, Wa.
Funny Jack,
How noone asks Americans how to solve this problem!!
Come into our home and Ill tell you what I pay too much for, ::
Insurances, Property Taxes, Sales taxes, Utility Bills, Grocery costs, and I dont even have healthcare and cant get medicaid , i dont quailfy, and the lists goes on and on, lower these and make a real difference
No Jack, President Obama is attempting to alleviate the destruction of Rome. America, as we have idealized it is ready to fall off of a cliff... especially with Republican leaders who use a Rush Limbaugh plan of genuinely attempting to destroy America for political gain. We have seen the results of this Rubber Stamp Republican Party for the excessive spending the Bush Administration implements. These practices were set forth to favor whom, certainly not the average American.
Joe, Binghamton, NY
Obama did not create this crisis but he needs to correct the reason that we are in this crisis. Sending jobs to India and China, Wall Street that scam people out of their money all this has to stop. I am afraid to go to the store or sign up for anything because I know that I will be scammed if I do.
Yes. Everything that is reported to us, everything that we see in our community's, and the devaluing of our personal assets is but an illusion. In the morning we will wake up, and realize it was just a nightmare.
It is extremely naive to think that the problems that our country is facing is solely the Bush administration. If one is balanced in his or her thinking, one truly knows that republicans and democrats allowed us to arrive at the place we are in today. President Obama will be like any other president...what will my legacy be? In my view, both sides of the political equation is dead wrong. Individuals nor governments can spend their way to prosperity. I hope I am wrong!!
Jack,
We have to make/manufacture what we need and use. Obama isnt even addressing this. Have to end this Financial Services Economy and get back to a MAnufacturing Base!
Just me; I feel you on everything you outlined!!! President Obama has been in office 7 days and the News Media and Right Wing Nut Jobs, along with some Republicans and Democrats are hoping and trying to do everything they can to block President Obama's efforts to try to get the Country back on track again. These idiots keep saying that President Obama's stimulus package is not the answer to get the economy going again; then what the hell is? When you ask them what can, they start talking some off the wall nonsense. They seem to know what won't work, but not what will. Yet, they never once questioned former President Bush; all he had to say is jump; and their reply would be how high! I'm sick of this nonsense!!!!!
Jack: The president is on target by identifying those factors that have led the financial sector to ruin. Hopefully at some point he will appoint a credit score czar to deter these agencies from doing business as usual" strain at the gnats while granting high credit scores to those camels who pad books, manipulate the poor and are intent upon keeping the credit score industry unregulated as a tool to deny a stimulus to any gnat with a score under 900.
I don't know if it can be underestimated. Every day, there is more talk of job losses, earnings targets being missed, etc, etc..Until the tone changes in the daily news reports, a tough sell is probably required for the bill...
I really don't see how anyone can exaggerate this. This has been touted as a global economic crisis, rivaling the Great Depression, since before the election. Any exaggeration has been made by the economists that haven't let use forget the fact that, unless something is done we are all doomed. The artery of America, our workforce, has been cut and is bleeding profusely, but we aren't dead yet.
Anyone wondering about the severity of the economic crisis should check with the 100,000 people who have lost their jobs so far this week. Some in congress may be yawning, but it's a sure bet these folks are frantic for a fix.
Jack,
it seems to me that the stupid republicans and their mouthpeace
Rush Dumbo had the last eight years to do something with this
beautiful country of ours , but either they just did not know how or they just did not know what to do. The new President has some good ideas and he
was elected to implement his ideas because the last bunch of dummies got everything all wrong. It appears to me that he has tried to work in a bipartisan way but the Dumbo crowd is doing everything they can to stymie his success. My quuestion is, why does he not go to the American public and explain to them that he has tried to be as bi-partisan as possible but to no avail, and say to hell with them and move on with his majority that he has ? The president was hired by the people to get the job done and the job is not a lifetime position.
If the people like his job performance he will be hired for another term
if not they will hire someone else. the president needs to stop listening to the dummies that got us into this mess and do what he was hired to do. Mr. President fix our great country and stop worring
about getting reelected. Right now we need a leader, not a bunch of
old loosers that listens to aloud mouth talk radio host that cannot keep his own house in order. To hell with the republicans, if we like
what you do for this country you will not have to worry about four years from now . Kick some butt MR President and the American people will
stand with you. Thanks Fred Bowers Richmond Virginia
The republicans KNOW they caused this and are true to themselves by trying to lie and BLAME anyone or anything else!! AND I WAS a republican for over 40 years!! NO MORE!!
Jack,
90 Million Baby Boomers spending less!! Talk about a difference!!
Absolutely not. This crisis is the result of the past administration not this administration.
The current republican incumbents should take a long hard look at what has happened as a result of the past 8 years and admit where the problem came from
It is strange to hear Senator Mitch McConnel complaining and saying how bad the democrats are. He seems to forget that HIS WIFE was a member of the Cabinet during the past 8 years and was the person in charge, I believe, of the LABOR department. Maybe he should ask his wife why she let so much of this problem happen on her watch in the Bush cabinet. People probably never connected him with the Secretary of Labor since his wife USED HER MAIDEN NAME while in that position. Very smart on their part, that way he could vote for the Bush Administration Labor requests without anyone knowing he probably had inside info on all the requets from his wife before any votes came up. Verrrrry interesting don't you think???
I don't know anymore Jack. We have lies, damn lies, statistics and now they've added spin. Doesn't matter anyway, we the people don't seem to count anymore because any number of polls have shown we the people don't want any bailouts, yet they're like cockroaches – you just can't stop them.
Jack,with the country practically insolvent it is small wonder that the people are eating their nails.As for the new pres.,he is a man with great intellect and has proven to be an a stute politician.He is capable of facing the most toxic problems,and is willing to play in team form if given a chance.Needless to say that he cannot accomplish everything alone.ANY measure deserves criticism;It is quite possible that nothing ever attempted will eventually help us to see light at the end of this tunnel.We can indeed only hope and try.
Pres.O has said,and rightly so, that the problem is not just national,it is GLOBAL ,thus in need of an international approach.
gerry,canada
When you see American car dealers advertising "buy one get one free" and people still aren't buying, I'd say things are extremely urgent and thats no exaggeration ! Henry Ford is an American icon, he made automobiles affordable for the masses and changed the face of the industrial age. Now we are trying to tell the "mid-life crisis" sufferer that there is the possibility that he won't be able to buy that convertible Mustang he couldn't afford as a kid. I think Obama understands the crisis perfectly.
I don't think he's exaggerating, I am self employed and began my trade in 2000. I quickly flourished and made a decent living. Here it is now in 2009 my business which is one that thrives off of the working man/woman, I can barley rub 2 dimes together. There is NO EXAGGERATION THAT I'M BROKE. I think he's not beating around the bush by saying were in big trouble! I think when those individuals making more money than me now end up in my position....That exaggerated tone will be greatley appreciated!
{People that don't pay taxes should receive a stimulus check becaure they do pay some taxes. Also if the republicans know so much, they had eight years to do it and look where we are now. Why all of a sudden is the elevator starting to go up in their brains now.
everybody else is getting something , why not spread it around to everybody ?
Jack,
Of course, he called all those Big Corps and told them to announe layoffs to scare us. He leared so much from Bush.(maybe that is what was in the LETTER.)
Dale
Illinois
Hey JAck,
Poor Poor State Farm wanted a 47% increase in homeowners rates here in FL. Governor told them no, so now they have to leave the State, good riddens! but they are going to sell Auto Insurance here, so they get to Cherry Pick!!
Cant cover homes , they should be booted out 100%
Just FYI, Insurance costs are a huge contributor to this economy crisis and noone addressing it. Sad!!
Jack,
Of course, he called all those Big Corps and told them to announe layoffs to scare us. He learned so much from Bush.(maybe that is what was in the LETTER.)
Dale
Illinois
Let him at least try to fix America, and vote out of office anyone who stands in his way. even if you have to change parties to vote in the next elections get the negative people out. Let them see how it is to be unemployed
No! I don't think he's exaggerating, the jobs are falling like dominos. What I want to know is how is giving tax breaks to big business going to help the economy if nobody has money to spend to buy the products they are peddling. Americans have tightened their belts because we have no money, big business has been selling us out for 8 yrs and giving our tax dollars to big business is not going to suddenly cause them to have a change of heart. Create the infrastructure jobs for us, we'll spend the paychecks into the economy.
You're asking whether the crisis isn't really as bad as it's been made out to be? God, let's hope so.
If as he stated he will Show How Your Government Spends this Money; on the Internet... The World will also know what you are spending... "What does America Spend on Defence?? Or Anything for that Matter... Tell the Rest of The World????????
There is no exageration on Obamas part about the crisis facing this nation. Leave it to the Old Republican's to criticize when a Democrat has to clean up the mess left by eight years of Republican Up to Down economics. Same old story from them as we have heard since WWII. Help the rich and hope they will help us. Sorry, if they cannot join Obama in his honest attempts to save our country at this time, they deserve to be replaced by another party before the next election. They will never change-God help us-Sara Palin for America's future. They have nothing to offer . John, York , PA
If he is conjuring it up he is quite the illusionist. When you consider the numbers of job losses worldwide, it almost seems real. Certainly Obama couldn't be responsible for creating all that. Real smoke takes real fire and 800bn is a lot of money to burn.
It's time for Foxy Loxy to wake up. Chicken Little is right. The sky is falling. Obama is not crying wolf. This crisis is the real thing. Thank God that Obama is our President.
Jack,
Just lower my Home owners Insurance , eliminate the mandatory car insurance, if paid for, reduce property taxes, etc....
Fair Tax!! then give us National Healthcare, this gets the money to the bottom , not the top.
No, this crisis is real! and like he said "will probably get worst before getting better"
Jack,
You'll know the recovery is working, when we all get back to work, and your blog isn't as popular as it is now.
Jack,
What we are dealing with now is the culmination of 28 years of Reaganomics! How well has trickle down worked for you?
YES. He learned this tactic from Bush who by exaggerating sold us so many things like Iraq war, Banks bail out plan etc.,etc., we knew are not necessary for USA.
Who know's Jack,
People said that the S&L Crisis was the worst since the depression now they're saying this is. Well I just don't care. All I know is it took us 15 years of loose mortgages to get us into this mess & it'll probably take us 15 years of horrible deficit spending to get us out. Lets just hope we can continue to borrow on my and my childrens future, otherwise we'll end up like WWII Germany.
Jack, no need to exaggerate, the economy speak for itself! From job loss to life loss!
Obama, is not making any real changes. This bill has nothing in it to provide any real cost reductions on goods and services.
Its more to provide tax cuts to people who dont need it or wont make any kind of real difference to them.
Contractors will enjoy charging and frauding the system as usual and hire illegal labor.
Bail out more banks and reward fraud on and on!!
So you tell me,,What 's in this Stimulus that stimulates???????
Jack, most economists seem to be implying that the crisis is, in fact, more dire than the president is articulating. The truth is it's going to get worse before it gets worse.
No, with the continuous announcement of job losses . . .and more importantly, those which do not make the news. .the situation is probably even more dire than the President dare say.
Businesses are hiring people around the world to product and import every conceivable item back to this country. . . instead of hiring Americans to support the economic flow. The economy will not gain long term footing until Americans realize that to hire Americans we must BUY American!!
Jack,
These hot cheerleaders and gals coming to FL for the SuperBowl is the best stimulus package I have seen yet.
Jack, it's all about SPIN. You do a 'spin' when you ask this question. Bush did a 'spin' last fall when he forced passage of the plan. Obama is doing a 'spin' now to bolster his argument for the plan. BUT, Jack......with almost 100,000 job losses this week alone.....where do YOU see an exaggeration of this crisis??
Jack,
I don't think so. Risky lending practices, overproduction of durable products, unemployment, and overspeculation in the stock and real estate markets can be found as systemic problems affecting our economy in the late 1920's and today. It's really kind of scary if you truly look at it. Like FDR in 1933 President Obama and Congress need to do something and if that's wrong then try something else.
Lee
The economical crisis was created through corporate greed, as Congress see's it they honestly do not care one way or the other as long as they get a piece of the proverbial pie.
As I recall, Democrats and the media were telling us that President Bush was using scare tactics when it came to the war as well as the TARP plan. Now that it is Obama using fear and scare tactics, I hope the media will be just as willing to scrutinize his fear mongering. It seems Obama is pushing this to be done so quickly is so that all this garbage that Democrats have snuck into the plan won't have time to trickle out before the vote takes place and the public finds out about it. This bill looks like a Christmas package to liberals. All the far left plans they've been dying to enact can now be stuck into this plan under cover of being a "stimulus" plan. How much of this plan is temporary and how much will be a permanent growth of government?
What would happen if we allowed the Republicans to manage this financial crisis? The end of the world as we know it. They are guilty of sitting on their thumbs while King George II fiddled in the white house.
Today, they are unable to present any valid solution to revive the economy. So, in light of this lack of imagination, their only recourse is to stall.
Such childish behavior must not be tolerated.
BTW Jack, Nancy is not going away soon, so take a deep hit and pass the pipe.
Hi Jack,
We should know from a two-year campaign that President Obama is not the type of person given to exaggeration, theatrics or hyperbole. He has been a straight shooter from day one. This is one reason he won by a very large margin. He earned our trust. If he says we are in dire straits, we are in dire straits.
It would have been far easier for President Obama to accomplish his original goals had he not inherited a nation in shambles. The Bush Administration raped and pillaged it for all it was worth. To make matters worse all of the moderate Republicans have been fired by their constituents and so now the President is left with trying to have rational discussions with delusional right wing conservatives who got us into the mess we are in. Sometimes I wonder why the President even bothers to talk to them.
A recent Gallup Poll reveals there are only 5 Republican states left. The other so-called red states are now competitive, including Texas. This should give the Republicans in Washington pause but I doubt that it will.
NO
Jack,
We have had an economic crisis for years and unlike Speaker Pelosi statement today, our elected representantives have not been listening to the people. They missed seeing it and are now acting in haste to protect their political lives. The Presdents Economic Stimulus will not work towards its desired impact beacuse there has been no thought put into it. Action without thought is a very dangerous proposition for all of us, but government is happy because it is business as usual. Hope they dont hurt themselves patting themselves on the back before the real crisis begins.
No! the crisis is severe and seems to be getting worse. The first stimulus payments did nothing and the situation is worse than before and is liekly to get even worse now htat states want to raise property taxes thus threatening more forteclosures and put more small businesses and other struggling businesses out of business or increase layoffs at the very least, instead of business expansion and job creation which would do some good; until Congress and big business decide that they want to fix the problem, the situation will worsen.
Exaggeration I think Not. What I hear from the "loyal Opposition" is: The burden we are placing on the next generation. I think Not. There will be nothing for the next and future generations unless we get this house in order. President Obama recognizes this and also the interdependence and interrelatedness of all the universals of Family, education, economics, government and yes religion. They do not work indendently of one another. He also understands the interrelatedness of the use of fossil fuels and the enviornment. In fact he has great understanding. We need to act and act now. Nothing is perfect so lets accept his program for reform and revitalization and change stratigies as the opportunities present themselves. Tom Blanding Utah
Don't you see the JOB report every week make that every day. THIS IS BAD.
Jack,
President Obama should make sure that the money does not go directly to private contractors without going through proper government channels just to give the false perception that money is flowing...we have heard this may be happening here about our own situation!
No!!!! It's even worse. When you make as much money as the president and those in congress make, you have no idea what life is really like. Even if they grew up poor, just a taste of that wealth makes them forget what it was to do without.
I Believe that This is Being Too Hard On Presidnet Obama and I think that We should give Him A Chance and Too be Successfull. I wish I voted For Him.
What a joke! Who is this moron? What planet is he on? He must be working so hard that he hasn't had time to see the news! Maybe now is the time to reduce the pay these people receive so they have to try to survive like the rest of us. Do you think they might get it then?
I don't think Obama is exaggerating the crisis, but everyone knows it takes an act of Congress just to get Congress to act on anything. Oh, geeze...what am I saying?
Roland
St. George, UT
Sure he is. If anyone has time to think about the package proposed by the democrats it would never pass. Oh and it doesn't need earmarks, it has everything the democrats have ever wanted already in it. What else would they ask for? a hammer and sickle on the flag? escargot as the national dish? I'm sure those will be in the next stimulus bill.
Certainly not, in order to be an effective leader, one has to lead with the permission, first, of all parties in his wake . This would be an opportune time to gain trust and establish momentum for future proposals. I would think that the seriousness percieved would be his power achieved. Quite frankly I'm OK with that.
Jack,
GOP we can do better!
Wow! Where have they been for the past eight years!
There is no such thing as exaggeration right now, the economy is in the tank. Washington needs to move now and President Obama needs to keep on the same path he is currently travelling. Even if the republicans don't come over to the democratic side and don't agree to compromise, the American people will know that our president stayed in the trenches and did all that he could to bring them in the fold. He is looking like the president I voted for!
Obama is right on target with his Stimulus Plan. Roads and Bridges and other Renovations put Americans to work. That's the goal. We cannot afford NOT to do this.
The Republicans had better wake up. They ran the Deficit up and we have nothing to show for it. Now, after 8 years of Irresponsibility, they want to be Responsible. Well, Responsible would be trying to do something to save our Economy, NOT Political Ideology.
Jack,
No the President is not exaggerating the point at all, it's starting to get bad out in the real world as far as jobs go. What I don't get is that he ran on change and the bill now in front of congress does not spell change at all, but more of the same old Washington spin, but this time it's the Democrats with the hammer.
Does dimwit DeMint ever read the newspaper? Does he travel? Watch t.v.? Job losses, a frozen credit market, the Dow Jones careening crazily, and house values dropping all around the country .. and he think anybody need to exaggerate anything regarding this economy? The public knew that we were in a recession long before the economists did. The public knows that we're in big, big, trouble right now. The Republicans need to get over themselves and their idiodic ideologies and start paying some attention to actual facts.
Obama is doing anything to look like he is leading? he is praying the Republicans will sign on so he has someone to blame later, This Pork al Grande bill is a joke!
Unfortunately, NO! We have to get back to making things in America. A predominantly "service sector" country cannot thrive and prosper. We are in a crisis and the majority of Americans know it...maybe not the super rich, yet!
Sandy
Texarkana, Arkansas
This is a GLOBAL economic crisis. Does that mean all the other countries are lying about a crisis? Why don't you ask the hundreds of thousands of people that got let go and are about to become homeless.
Jack,
Gee! How many drinks does it take to convert a republican into a democrat, or into half a democrat, or one quarter of a democrat or even an eight of a democrat ; it would not be that bad to experience just for once!:)
Is President Obama exaggerating the crisis in order to get Congress to act?
If anything I think he is not saying enough.
We are not in a recession, we are in a depression.
Jenna Wade
Roseville CA
Ask the millions of Americans that have lost there jobs if Obama is exaggerating the crisis or the parents and grandparents that are trying to help support them. These Rip Van Winkles that are running our government need to be voted out of office. Wake up Jim DeMint and cohorts. Your jobs may be on the line. A lot of these people that are being layed off are Republicans. Soon to be Obama fans.
Obama is good, but seriously, how can anyone exaggerate this crisis?
Mark
Fenton, MO
Jack, is this a serious question or is it Friday? I listen to CNN and other news organizations everyday telling us how bad the economy is and how bad it is expected to be tomorrow. Who in their right mind would think that President Obama is making a mountain out of a molehill?
Is he overstating the problem? No. The faster the response, the sooner it can take effect – assuming it works. The difference between Obama and Bush is Bush said "The situation is dire so we must pass this bill which I'm not going to change". Obama said "The situation is dire and this is the plan that has been put together between my fellow Democrats and myself. It's not perfect, let's hear a few ideas and see if we can improve it, but we still need to get it passed as soon as possible"
What......? it's OK for Bush and Paulson to create an urgency crisis and send out checks with no accountbility to the Wall Sttreet Fatcats, but Obama can't send out stimulus checks to citizens.....Those GOP fanaglers will create any smoke screen to keep from admitting their responsiblity for the 12 years they controlled Congress and gutted regulation.....
Bush went on auto pilot in NOV08. Unfortunately, it is a crisis. Congress need to get it done, debate, debate, debate, just do it and adjust fire as needed.
PROSECUTE , PROSECUTE , PROSECUTE
2 4 6 8 WE JUST WANT TO LITIGATE !
Prosecute those who broke the laws, those responsible to make sure that laws and regs were followed but looked the other way , and those who let it happen (BUSH ) .
Start it now so it never happens again , and continue it for as long as Obama is in office .
Its no exaggeration that the finance industry as well as the automakers are taking even the bailout money and running from the last year of Bailouts/ stimulus . Its no exaggeration that people are losing everything they had as this gets debated and no exaggeration that there will be no help for those pushed to the bottom who can not even respond to your questions as they have no phone , computer, place to live or sleep or wonder how they'll feed their kids.
This is real America , History can not be glossed over as to what is happening and what Bush did to destroy this country!
No way. Just read the New York Times. Gene
That is the one of the silliest things I've ever heard. Something should have been done MONTHS ago!! Unfornately, we had a lame duck president and a lame duck congress. (I'm not blaming, I'm stating a fact).
The president has the best economic minds in the world advising him and has had months to plan this stimulus package! Do members of Congress have a better answer that doesn't involve lining the pockets of the banks, insurance companies and other multi-BILLION dollar corporations that caused the collapse in the first place??
Sure, the republicans should ask questions, but until they come up with people backing what they say of the caliber that the men and women advising the President have, they should shut up and vote with their heads instead of their wallets.
They poured the gasoline over their own political heads. The president is offering them a towel, yet they keep looking for a match from the special interests that filled the gas can!
Jack–I work in the apparel trade.. You have no idea which stores are about to go under . People will be shocked..People are afraid to spend money and God knows I don't blame them . Who needs anything anyway--we need to start making things in this country again. Stores want fast delivery and Asia can be 2 1/2-3 months to get things here from the time of the order.. Thats a long time. .They need to react faster
as for Congress they have been sitting with their hands up their butts for 8 years..They haven't worked in so long -they don't know how. They all–both parties need to be replaced.And starting with Pelosi and Reid–they are both one big hot mess and they don't even know it
Jack – Why would President Obama exaggerate a CRISIS that, by the way, he inherited prior to the election. A few months ago, some politicians felt the economy was fundamentally sound – but they weren't getting pink slips. My husband & I are both unemployed, looking for jobs (there are none), hoping another unemployment extension is passed, whatever it takes to get assistance to every person who is out of work. It's a CRISIS of epic proportions when thousands of jobs are being cut everyday, there's no work out there, and things are REALLY TOUGH for the unemployed. If this isn't a CRISIS, then those that think it isn't , then by all means, please walk in someone else's shoes for a minute if you can stand the tight fit.
Deb – Seaside Park, NJ
President Obama is not exaggerating the economic crisis at all. All you have to do is look at the news and all the job loses. It is the republians and the Bush Administration that used Reagan era economics to bleed this country dry! So they should not be sreaming foul when they put us in this mess in the first place. They want to live in the past and want everything going their way.Do they not realize that we are also $800 billion in debet to China alone. What will the Republicans do when China wants their money back! Then are the Republicans going to blame Obama and the Demorcates for what they did when they were in control!
I'd say it depends on if your a Republican or Democrat. If your a Republican then yes Obama's exagerating. If your a Democrat then he's not. After all.. .if your a Republican you didn't believe we were in a Recession til a few months ago.
Jack, I'm a retired Autoworker from MI. As you know, we have been in a depression up here for the last couple of years. My son writes about these issues. He has been called the young man's Pete Seeger. He writes song's for the poor, "Rich get rich", songs for the troops, "Wanna come home, and these songs, explain what is going on in America, and what has been going on for some time in America. Our government just ignored this. The banks or the white c ollar people don't see that there is anything wrong with what is going on in this country. Just ask a blue collar worker. We'll tell you. Thanks, Bob.
I wonder if Demint were losing his job, savings, house, he would think President Obama was exagerrating? Of course that's not the case and these congress people, both Republicans and Democrats are unbelievable! They threw money at the Bush administration and the rich got richer and the middle class got poorer. Now they stand in front of those microphones and sound like they've had a financial responsibility epiphany!! The American people are on to you congress...there's a reason you have such a low approval rating.
jack
obama will find dealing with the gop is the same as dealing with the terrorists -- IMPOSSIBLE.
The fundamentals of the economy are strong and this is all in our heads. We just need more tax cuts for the corporations, repeal of the "death tax" and elimination of the capital gains tax. That will fix everything. And that kind of thinking is why the Republican party is no longer relevant.
I watch peoples demeanor. Pres. Obama has most decidedly taken on a physical change. I believe that he now knows more than we want to know ourselves and is frustrated that he can't seem to get people to get on board, and at least offer ideas if they don't agree with his own. Whiners or in other words republicans really need to remember that this most assuradly dire crisis is their own fault and it's a little late to pretend they care now by throwing stones at the man that the American people have given their trust .
we've been built on house of cards/paper-plastic, uncertainties, people spinning us like Madoff for many many years. That has been more than shaky for longer than most realize.
When the planes hit the towers, it just speeded up the process folks.
Not only did we lose valuable lives, we began losing more of the financial structure of the system. It may have taken awhile, but they are "winning", getting our system more like the other countries that are failing. (you know, those countries that have been gleefully cheering us on thru the recent elections...think about it).
Jack, do you really believe this question is warranted? Let's count the lay offs so far this week, this mont,..last year! People are hurting, killing themselves, and losing everything. Come On Jack!
Of course he is, Jack! The half-million-plus jobs that have been lost, the foreclosures, the bank failures – they're all figments of the President's imagination. In "GOP World" everyone is rich, white and sitting on the veranda sipping mint juleps. How dare reality rear its ugly head!
Susan
Tuscaloosa, AL
This economic crisis is not a situation that anyone has any real experience with & I believe Pres. Obama is not exaggerating the crisis, just listen to how many people are losing their jobs daily. I think no matter what Pres Obama does the republicans are going to reject it because they really want him to fail, but they don't remember that Pres. Obama said if one thing fails we keep trying until we find what works. The previous bailout was handled differently without any transparency and this stimulus package will have transparency & is being used to directly help middle class & the poor.
DEFINITELY. He wants congress to RUSH this $825b stimulus plan, like Bush wanted congress to RUSH his $700B plan. Did that work??
What happened to Obama's scalpel??? 1. Did he miss all the PORK in this plan?? Congress should SLOW DOWN and READ everything in this plan and ALL PORK should be removed before approving and signing anything.
This stimulus plan is a bandage, when MAJORITY surgery is required.
It does not do enough to create long lasting jobs.
No! this Republican ideology caused crisis is not an exaggeration and It is upsetting to watch the John McCain Republicans in this game of if "I can't be the leader I won't play", it is painfully obvious that Republican philosophy does not work., as exhibited by the impending death of their party, we have been watching them self implode for 20 years. They have learned nothing from the Clinton era when they pulled this same tactic. Giving tax breaks to big business does nothing except allow the rich to shelter money for their own personal gain, it never trickles down to the public as evidenced by the frightening increase in people who can't afford to house, cloth, and feed their families (health care is frivolous in this scenario). But we really don't expect a man who doesn't even count his homes to know that. And as we all know birds of a feather flock together. Leave the Republicans out of the mix, they have what they need.
Jack.
Something for you to check out .They bailed out the Banks, but have you woundered why? did they bail out AIG insurence co. Among other
things AIG insures the pensions of the United States congress.
The banks and AIG
Fill my pocket also, they want more ?
where was the news media the last 8 years when bush and the republicans was tearing this country and its economy to sheds. The y were to busy cover Lohan and Spears. Now that Obama is president the news media watch and critices his every move and of couse the news media blame the democrats for everything wheater the have control of congress or not. Lets lay the blame on this mess where it belongs onthe party first republicans. Now they are no longer in power they are going to try and block anything that a democratic congress does. The crisis is real but the republicans are in lala land and blame everyone else.mode and the news media are the republicans mouthpiece. Obama offered bi-partinsainship and the republicans have rejected .WHY DOES THE REPUBLICANS HATE AMERICANs.
Yes, The media has trouble hyping positive economic indicators like housing sales up(even if they are short sales), because that would not sell ads like 'blood stories' do and Obamas their boy, he is the JFK Camelot of our time. He can't have the markets recovering before he dumps a Trillion of our money in. Dems would like more than anything for us all not to question pork barrel like; 50 mill for condoms or new sod for the capital. Ask any of our congress just how fast that money will hit the streets, they'll tell you 6-12 months before it affects households.
of course he has exaggerated somewhat.You gotta do what you gotta do!
I don't feel that Obama is exaggerating at all! The congress is making it a crisis everytime they refuse to act. It's as if they want the world to stay in a mess, rather than get better. There are plenty of people without jobs, homes, food, etc. Something should have been done months ago, before Obama even got elected. The congress need to get there act together, so we can start making the world a better place to live. I will continue to keep Obama in my prays, and hope for a better future.
Sure, well Jim DeMint has a job, doesn't he? I can tell Mr. DeMint this: there's no exaggeration in my house! Now get to work and fix it or we'll send tons of money to your opponent next time you want to keep your job.
Not sure if the crisis is as bad as he says it is but I am sure that he is using it to push through his agenda whether it is good for the country long term or not.
Julie
Pflugerville,TX
What don't you ask your stupid question to one of the 2.6 million that have lost their jobs!
Umm Hello.....politicians, reporters.....he doesn't have to exaggerate the crisis. It is REAL thanks to Bush/Paulson – everyone except Congress knows this
Are you effing kidding me? I think 70k speaks for itself!
If Republican policies are so effective then why is the state of our banks and economy so bad? I think it's time to let the Democrats have a go.
No!!! It's easy for the people doing well to say that there is no crisis. Ask all the hundreds of thousands without a job, under foreclosure, and without health care plans. They will give you the true answer.
Exaggerating?!? Just yesterday alone, some 80000 pink slips were issued by some of the biggest companies in the world
We're in the worst financial crisis since The Great Depression, who's exaggurating, and thanks George W. Bush.
according to all your news reporting – NO
I don't believe he is exagerating the crisis. But I do feel it's the same ole "too much pork barrel" included.
Exaggerating? The mistake we could make here would be to ignore the problem which is a tactic I'm sure the Bush administration remembers fondly seeing as they used it time and time again
Yeah, Obama must be exaggerating...i mean only 71,000 people lost there jobs on this past monday. Guess we're in good economic times...
I am an chemical engineer working in the oilpatch in Wyoming, and I am facing layoff. This depression is real, and it will cut deep.
I think the Senator needs to try and get a real job to come to the realization that President Obama's been fairly understated so far about the crisis that faces the United States.. and the world!!
No. I do not get any of the gloom and doom messages so common from the bush administration.
Yes, I think the President, the Congress, state governments, special interests, lobbyists are saying the sky is falling as a means to enact a stimulus package that is mostly a special interest grab bag.
In a week where we've lost almost 100K jobs, this is a ridiculous question. What is disappointing is the inability of the House members on both sides of the aisle to work together, rather than spend almost all of their time in front of a camera complaining about the other side. We need less speeches and more discussion. There's no question that this bill is not perfect, but taking your toys and going to the nearest TV camera doesn't fix the bill.
A crisis caused by overspending and debt is not going to be solved by more overspending and debt.
The best thing government could do is to get out of the way and let the entreprenural spirit of this country fix the problem.
It is not an exaggeration if you are one of the unemployed.
This crisis has been building for years throughout Bush's second term: irresponsible spending, lack of oversight and greed have all contributed to this mess. Omaba is just trying to react to it and he honest with us instead of ignoring it and lying to the American people.
Ruth in Maine
He isn't exaggerating the enormity of the crisis. The crisis is pretty big. He IS exaggerating his power as well as Congress'. Show me where in the Constitution this is allowed.
Oh sure Jack....Obama is exaggerating the economic crisis. Those 70,000 announced layoffs earlier this week...just made up, a number from the hat. Ask those people whether this crisis is real and then tell Congress to worry more about immediate problems rather that future "what ifs".
How many people have to lose their job before you realize that we must take action now. NOOO President Obama is NOT EXAGGERATING! That's a NO BRAINER!
Are you kidding me? Is this guy serous? Here is an idea.. take way his job, put him on less than $1500 per month for the last four months in unemployment..don't forget to take out the taxes and throw a kid in the mix.. and you have my life....
Exaggeration!!! The hope of the people is waning. On Monday we lost 71,000 jobs and a family of 7 felt that suicide was a better option than the prospect of rebuilding their life. We are in an economic crisis that will soon spill over into every other aspect of our lives.
In saying that Obama is exaggerating the issues at hand is quite a harsh assumption. The last time I checked a good portion of America was feeling optimistic and open to changes to come in the near future. Obama is picking up the dead weight that was left over by Bush, this is the first action that we have seen been truly taken to tackle the issues. Although the amounts are high and there are some programs that I do not agree the money should go to, it is most certainly a start and a breaking point for the American Economy.
Who knows if his plan will work, but the panic we're in didn't come from Obama. No one knows exactly how this will pan out, and he doesn't know. But he didn't cause or start or exagerate the problem. He's doing his best to fix things.
Blair Chafe
Ottawa, Ontario
Obama is typical of any politician. They enter washington to build debt and add to that massive UMBRELLA the NATIONAL DEBT. Obama has been true to the political archetype. Very disappointing, because his hopeful message didn't even make it through 100 days before he deflated our hopes.
Yes. HE IS FEAR MONGERING. No "stimulus package" for banks will work; The issue is bank solvency, not liquidity. Market levels and housing levels must be allowed to collapse to sustainable levels, and the Presidential Working group MUST be dissolved for that to happen.
The Federal government has yielded to the lobbying power of corporations that forced deregulation (dismantling of Glass-Steagall) and permitted the unregulated CDS and Derivatives to get so out of control. The potential Derivative hits are the big unknown domino that is slamming through the system, and causing the Banksters to sit on money without lending any out for mortgages or whatever else. Mortgage issues are secondary. Stimulus bills are outright theft.
President Obama is trying to get things moving. Politicians aren't used to that. Obama has already started changing the rules of the game. Congress hasn't caught up – same old shuffling along game.
Just because Bush went with scare-tactics doesn't carry over. When we hear daily that different big companies are laying off thousands of workers, the alarm has already been sounded & the bleeding needs to stop. Obama is a serious man for serious times, not a Texas boy crying wolf.
Exaggerating the crisis? That implies there already is a crisis... so clearly something needs to get done. No exaggeration necessary.
So what does Congress want to do, sit on their hands and see how bad the recession will get BEFORE they move to do something?! Then who are they going blame.....Obama?! If President Obama does not doing something now, no matter how rushed it seems, it will definitely get worse.
It is amazing to me how the Republicans don't mind all the money we're wasting at war in one day ,but they don't want to do anything to help the US get back on its feet!!!!!!!!!!!!!!!!!!!!!!!!!!!
No he is not!!!!! Look at the job losses just this week. Housing crisis across the country, Seniors deciding between medicine and food. Some of the bill needs to be changed and help a broader spectrum of Americans. He just got handed this hot potato from t he Bush Administration now he has to deal with it all and wants action. But he needs to smart about how they go about it.
I don't think he is exaggerating the crisis. The many crisis's we are facing right now have been left by the Bush administration. Obama is a smart cookie and I think this package he has will be a great start to what this country needs to get this economy moving forward again.
Jack,
Obama has only repeated the number of jos lost along with what several large corporations have announced they will end. How is this exaggeration?
Prez Obama doesn't have to exaggerate our horrible economic state. We see it every day live and in person. Helen Keller (R.I.P) can see we need quick and decisive action.
I only wish...
Uhhhhmmm NO !
But then again Jack you wouldn't understand as you continue to get a paycheck from your cushy CNN job.
I'm Out
Albuquerque NM
Give me a break. I don't know what planet these people are living on. But, the one that I'm living on has unemployment, lost pensions and stockholdings, and individuals in fear of the future. Obama didn't need to exaggerate anything.
Look around you, everyone knows someone who has been laid off because of tight budgets. This isn't a new problem that has occurred in a little over a week. Whether President Obama is exaggerating the situation or not doesn't change the fact that people are suffering, people are struggling and it needs to change. The Republican Party was more than willing to support the previous Economic Stimulus plan when it supported big businesses, what does it say when they so blatantly refuse to help the little guy?
This economic crisis has been obvious and growing for a year now, even before the stock market collapsed.
If it's not a crisis now, I'm sure that if we ignore it again and let partisan wrangling get in the way of action, it would be really obvious once unemployment hits 20%.
NO! How can you "exaggerate" Thousands of jobs being lost pretty much daily. DUH!
Hi Jack
Considering it was Bush and the Republicans who got us in this Depression it is BEYOND hypocrisy that now they say President Obama's plan is costing too much. The Republicans let our economy go to hell in a handbasket while robbing the till of the American middle class. What's wrong with THIS PICTURE? Obama is doing the right thing and he's not stampeding anyone. He warned about this long before he ever got into office.
So all the statistics and data on people losing jobs is wrong?
No this is something that mr.Obama need to do for the people I think he should ask for more money because it take more money for this country to go round
Jack, NO exaggeration by Obama, I just lost my job which looked very secure, and that's no exaggeration!
What obama needs to do is legallize marijuanna and tax it like no other. Im sure that would help create jobs, and a hugh amount revenue for the goverment.
I really hope President Obamo is exagerating this crisis. I just don't want this country to dip any lower.
Of course not, Jack. In my opinion the very notion is absurd!
Thats like asking someone whose gas tank is on E, stuck on the side of the road, if they REALLY NEED gas. He doesn't have to "exaggerate" or keep reiterating the obvious........America needs this to pass.
It appears the Republicans want to take a stand against anything just to be in opposition, or they are in denial. Any moron knows that we are experiencing a disaster economically, and something has to be done.
I think Senator De Mint is downright irresponsible making this remark! I live in Myrtle Beach South Carolina where the unemployment rate is 11% according to the Sun News. Today the newspaper reported 1 in 10 people are unemployed on the Grand Strand. I myself have been out of work since November and I am now living on credit cards, what does senator De Mint suggest I do when they are maxxed out???
How can President Obama exaggerate the crisis when we can see the very same announcement he discusses for ourselves. This started under the previous administration and that's why we have the T.A.R.P. – he is right this congress needs to act quickly. Left to thier usual designs this bill would take months to go through the process and by the time it passes no matter how big or small it would be useless, just like just about every other bill they pass. Let's get it done Congress.!
Jack:
President Obama is not exaggerating..and if I can recall corretly...I have yet to hear him say anything similar to what BUSH and other republicans screamed to the US about passing the last $700 billion stimulus!!! At this point, quit the finger pointing and get something done.....the words and methods do NOT compare to the end results!!! We need results!!!!
Thanks Jack and you are great!!!!
In four words: a very definite yes!
There is no exaggeration needed. The economy was in crisis long before Pres. Obama came into office. The crisis is as bad as it's being made out to be, if not worse. Congress does need to act and work together.
No, he isn't.
WHAT????
Exaggerating the crisis?
Somebody needs to watch CNN or some other credible news source.
Well gee, Jack, with the job losses announced Monday and Tuesday alone, that represents a job lost every 2 or 3 seconds over those two days alone.
Does that make our economic glass half-full or half-empty? I say it's pretty nearly empty.
It doesn't matter whether he's exagerrating or not. The fact is that this stimulus plan won't work. It doesn't take a genius to see that he's trying to get the country to spend money, thus stimulating the GDP. The problem is that you would have to do that (stimulus) every six months in order to keep the economy at the size of the 90's. Got socialism?
Jack,
Why don't you ask the 70,000 Americans who lost their jobs on Monday alone if President Obama is exaggerating the economic crisis?
The gentleman from South Carolina obviously has no clue just how scary it is out here. He's not worried about his job, his retirement, his healthcare or his home. Come visit the real world, sir, and see how you feel then.
Well Jack, just ask the millions who have defaulted on mortgages, the millions going thru and have been foreclosed.... the thousand and potential millions who have lost their jobs... ask them if this is an exaggeration
You should be getting at least 80,000 responses answering "No, Obama is not overstating the crisis!" And these responses represent the tens of thousands of Americans who have been let go in just the last three days.
You can ask the 2 million families, maybe 8 million people, who are losing their homes if Obama is over reacting Or, ask the 100,000 people who have lost their jobs this week or the 2 million who have lost their jobs since October.
Um, Jack, have you heard President Obama warning us of the 'smoking gun', the 'mushroom cloud', the 'axis of economic evil'? No. He is telling the truth. He is being pragmatic. He is being smart. He is being our President. And he is ATTEMPTING to do this all in a bi-partisan manner. Has there been a 'you're either with us or you are against us/my way or the highway" proclamation? No. End of story.
You tell us! You're the media – do you job instead of just repeating what comes out of the white house! For months the media has been reporting every bit of bad news you could get your hands on – now you blame Obama for reporting the same tripe?
My word people , have you lost your minds?
Can't you all see we are in deep trouble???
We have been for a long time.
The people of these great United States need help-
not the banks, not the automakers, not the ceo"s...
Every day we wait to enact a recovery program, the more people slip through the cracks...
get with it and make sure the money goes where it belongs-
in the pockets of the americans that need it
No I do not think that he is overplaying the crisis that we are in. You only have to ask the people who have lost their jobs to find out how serious this is. The republicans have their jobs and they are most likely set for life. Whatever qualms they have now, why weren't they worried about if before? Bush and his cronies brought down the world market, how does one do that? Now they are worried about spending, they are too late for that!!!
Even if Obama is exaggerating , its better then money going to war, what matters is that he is atleast trying.
Yes, he is. He critizied Bush for his plan that cost us $700 billion then comes in and ask or rather demands $819 billion. What good came from the first plan? Nothing and what will come of this plan? Nothing. If you have to say anything comes of either of these plans is that we are now deeper in debt. How much can we lose before we actually get the "change" promised by this new president?
Sincd when is 70,000 plus job losses in one day an exaggeration to get support?
Yes. If you're a rich Republican politician who doesn't have to worry about keeping his job, paying his mortgage and affording healthcare, college, transportation, food and clothing for his family, the problem is clearly exaggerated. For the rest of us in the reality-based community, not so much.
Steve, California
No, the President is not exaggerating.
Oh, I get it so President Obama called all the CEO's of these major corporations and told them to lay off thousands of workers just so he can get his stimulus package through. Wow he is good.
Yes, the economy is in dire straits. As extreme as that sounds, this situation is different from those in past years. US people have NO SAVINGS, which is different than 2000 Bush recession. they have been using homes as ATMS and continuing excessive spending. JOB situation will keep getting worse, as will commercial real estate. Bush has sold us down the river, and Obama has to take action right away to keep it from getting worse. some things in bill will take a bit longer than others, but overall will have an effect.
Yes, he is! so far it seems he is going to make things worse! there is nothing in this package that will stimulate the economy! and he says he wants to turn things around? what a JOKE! he is only digging us into a deeper hole! how is money that they are going to give to the sexually transmitted disease fund going to help the economy? again...a BIG JOKE
Was 9/11 an exaggeration? Was WMD an exaggeration? You win some and lose some. I haven't heard a good plan coming from the Republicans. I don't mind actually seeing tax money being spent as opposed to it being held on to. How long do you believe the closed fist will go on without an economic fall out?
Please, take a look around you. I'm from Detroit but I have to live in Arkansas to find work. The big spending has been going on for the last 8 years, since the budget was balanced first time(Mr. Clinton) in my 48 year life time. Give this man a chance (Mr. Obama). Go little guy.
Obama is making it a lot more than it is to push through his Socialistic agenda. All he knows how to do is to be a social worker so all he knows how to do is spend other people's money.
Yeah Right!!! He's making it all up so we can all panic. Tell that to all the people collecting unemployment or the family of the man that shot himself, his wife and all their kids because he saw no way out of this mess. Maybe they can tell you it's all bull. Someday they'll set term limits on the congress and senate maybe that would move them to do what they were put in office to do instead of becoming so rich that they forget what it's like to work for a living
I happen to think that Obama is being proactive in trying to get Congress to act. Sitting down and watching things possibly get worse is not the answer. Therefore, we, as a people need to stop critizing Bush for sitting idle until things blew up in our face if we are gonna complain about Obama trying to get on the bandwagon and acting swiftly.
Where is the change???
I see nothing but a blame game. I voted for Obama, I believe in him but he must get a hold of his party. If blame needs to be passed out, it is my view that all our elected officials had a hand in it. Keep in mind that when the republicans controlled congress we were doing pretty darn good, the democrats have had control when the economy crashed.
Stop blaming each other, work together for the benefit of the people. Strip the pork from the stimulus package and show the voters that it is in fact a new day for our country.
Jack,
Of course Obama is not exaggerating. Look at the facts! 500-600k jobs per month vanishing. He has said he has no sense of authorship and is just looking for a solution. The Repubs would rather be partisan and wrong, than propose real solutions. The Dems are the same, too,
Geoff
Raleigh NC
Ask Britain, the man who just killed himself and his family, the millions who have just been laid off...should I continue?
Exaggerating the crisis?! If anything, President Obama is trying to turn down the fear factor with his rhetoric and his policies. Sounds like the Republicans still don't get it: WE-as in the American people-won the election! They should help get the job done or they should get out of the way!
I think President Bush hid from the American people how deep we were burried in recession. I would support President Obama as I trust him more and foremost being one of his FIRST bills as a president, he would not LIE as everyone tries their best in a new job.
No, Jack, he's not exaggerating when millions are already out of work and more layoffs are coming every day. The 0 'yea' vote by Republicans in with respect to the recent stimulus bill is pathetic. They are pathetic. It's like sending little children to run the country. That said, Obama needs to continue to strive for less partisanship, because it will stultify our ability to progress if it continues.
I am so sick of this – Wall street and Washington throwing billions of dollars around – while the average person is going to hell in a hand basket- I'm beginning to wonder if we have not met the anti-christ!!
How can anyone doubt the country is not in economic peril. Just look at the amount of jobs which have been lost, homes in foreclosure and stores which have gone out of business. This country is in dire trouble and something must be done. I find it ironic that Republicans wanted to push the Bush economic stimulus and now are voting against what Obama claims is necessary.
Heck no,Jack. Just look around at the people out of work and the folks with exemplary credit who can't get a bank loan. What I don't understand is this: knowing we ARE in a crisis, how does congress have the audacity to include all of the bogus projects in this bill-like 1.5 million to resod the national mall? That's as bad as the execs who are spending their bail out on executive jets. The bailout needs to go to immediate job creation, loosening up the credit from the banks and helping bailout the PEOPLE- not the politicians and more company execs. Take back some of those big bonuses and cut the bailout in half!
Cafferty,
You must be hard up for questions today. Have you checked the unemployment figures recently? Have you heard about banks failing, actually happened not long ago. Have you checked the bankruptcy filings recently, or the home foreclosures??
Yes, he is exaggerating the crisis...if the companies are exaggerating the number of people being laid off, the Labor Department is exaggerating the number of people filing for unemployment, the retailers are exaggerating the lack of customers, and all those foreclosed properties are just figments of a collective imagination. Sure, he's exaggerating.
Gregg Alan Smith
Dallas, Texas
I don't think President Obama is exaggerating. He's rather anxious to fulfill his promise. As we all know he's very practical so he hit the bull eyes as far as where to start on cleaning out this Bushy mess.
mario from new york
As any good politician knows all too well... a little bit of exaggeration goes a very long way. It works and is just one tool in the tool box.
No I think the Republicans were exagerting how good it was over the last 8 years. Look beyond the walls of the USA and you will realize this is a global crisis. If its an exageration then this time will go down in history as the biggest world conspiracy.
Seems are new president has choosen to pick up the bad habit, from the previous president, of crisis exageration to get congress to act without thinking. JZ
Jack,
A question like this only comes from people like you who makes over average wage to meet the ends....If I were sitting on your chair, I would ask the following question instead:
Do you think Obama and Congress should just distribute the billions of dollars to household as loan for 24 months with low banking interest rate? Corporates had proved themselves stupid in the first bailout, so let average American demonstrates how to manage...
Susan – Plano, TX
Where has this idiot been hiding.
My son was let go from his job yesterday and I can tell you he does not feel enconomically prosperous!! HELP President Obama!!
(hehe) that is funny Jack> I wonder what world Jim DeMint lives in.
Is this man so blind he cannot see for himself the hurt a great many americans are in.
The best thing America can do is put people back to work, generate an income and pay thier taxes. Tax breaks will do little to nothing as most have slowed thier spending to a trickle.
Do the math.
Yes.
No...the seriousness of the current crisis can't be exaggerated. However, there are questions about how effective the recovery package will be. Where can the public go to see what is being debated?
Tom
Bay Saint Louis, MS
when bush asked us to spend. we did. from bullets to bailouts. when obama asks us to spend he is met with miopic curmudgeons.
When you have a failed president in office fro 8 years, this is what you get. Does anybody remember the 80s and how bad things got after president bush senior left office?? Presiden Obama has great ideas lets hope that he gets an oppourtunity to show americans just how they can be for all.
Jacky Jack! No sir, Mr. Obama is not exaggerating about this crisis. I just got home from Kansas City, MO. I live in Chicago. The midwest, the heart of the nation, is no longer beating the way a healthy heart should. I see more and more homeless people, more people struggling for the basic Necessities of life. IF Obama has to exaggerate about the pain that this nation and world is feeling to get congress to act, Then Congress needs to open up there eyes and stop BSing, because their are people that need help and need it now! I'm fortunate to still be employed by a great company, and I am thankful for that. But too many people are not as fortunate.
Good question Jack, let's ask the 62,000 people who lost their job in one day, or better yet let's ask the millions that lost their jobs last year. I wounder if they feel it's a dire situation.
Of course Obama has been exaggerating the crisis. That's the way he operates–we all saw during the campaign how prone he is to overstatement, exaggeration, fear-mongering, and creating panic.
Never mind those daily layoff statistics and plummeting stock values you guys at CNN have been reporting...don't confuse the issue with data and facts!
Absolutely, and that scares me!
Jack,
I don't think the Obama administration is exaggerating the current economic situation, I think the Bush administration suppressed the real truth about how bad things were. Just look at the jobs reports this week and the number of people who have lost jobs this week.
Furthermore, if the Republicans have a better plan to get America out of this situation, why didn't they implement it sooner, like a year or two ago?
I don't think president Obama understands the consequences of this. He is just trying to shake things up and "HOPE" things will "CHANGE". The majority of more "EXPERIENCED" people on the hill understand but are going with the flow, which is going with the president.
Obama is definitely using scare tactics and exaggerating the crisis to scare people.
What we need is congress spending time and getting brains together to think this one out, not just throw money into the drain .... again.
Just take a look at the jobs lost since December and the number of businesses going bankrupt and then ask yourself that same question.
Lapell Chapman
New Jersey
We all have the right to challenge the solution, however no one with intelligence and a grasp of the facts can question the size and urgency of the crisis. Over 1 million jobless claims have been filed in the first two weeks of the year and the announcement of over 100,000 new layoffs. When will the crisis be dire enough for us to act?
With all the jobs lost, anybody can see the us is in a crisis!
come on people lets work with him.
YES! The man is an out and out Socialist, and he's using scare tactics to push his agenda. With no proof of natural born citizenship, we need to oust him from the Presidency now!
No!!! I feel Obama understands the needs of American citizens. It's not an exaggeration....it's the truth. Something must be done!!! I feel the Republicans are still bitter about the election and will not cooperate with President Obama on any issue. In turn, this makes them look bad. At least President Obama can say that he streched his hand out for bi-partisan support! Us as Americans can clearly see that he has tried!
If you are asking this question, then you are out of touch with the current situations of so many Americans. Are you paying attention to the number of jobs that have been cut? Perhaps you aren't aware of the number of foreclosures on houses. Have you seen the number of businesses/stores that have closed? Please ask real questions.
I can see how you might think Pres. Obama is "exagggerating". It wasn't long ago that George Bush said that you were not in a recession, and even more recent that John McCain called your economy strong. The truth hurts- and you all have been blatantly lied to about everything from the war to the environment to the economy for so long, its difficullt to recognize. Your in a recession. A bad one. The rest of the world can see it- open your eyes befre its too late
Americans have been so jaded by the tactics and lies hand fed to us by the Bush administration, that we don't know how to trust our leader anymore. I don't think Pres. Obama has taken that approach in his quest to have his stimulus bill passed.
When the announced beer sales were down you knew this was real
I don't President Obama to tell me the economy is in the tank. I hear the about the number of jobs lost. Within my own small community, we have lost three flagship stores and many small businesses. I don't remember a time when so many homes were in foreclosure, and each week, the number of businesses and individuals declaring bankruptcy rises. Of course, we are in the middle of a crisis.
Only if you believe all those job losses are bogus and the holocaust did not really happen.
Elsa
SC
Didn't the Republicans learn anything from this past election? This kind of stonewalling will not lead the way back for them. I really felt that they had learned how much out of step with the American people they were. Do they really think that we will buy this exageration theory? Keep this up and they will never have majorities in the Congress again. We still strongly support our President.
I think we all know that we are teetering on the brink of economic disaster. All you need to do is read the job loss reports and see what the stock markets have done. It's obvious the GOP wants no part of helping average Americans and only care about the Wall St. muckity mucks. I support the President's plan and would hate to see our country colapse because of the partisan antics by the GOP.
President Obama is definitely NOT exaggerating the economic crisis – how many jobs were lost just yesterday????? He is merely pointing out how grave the situation is right NOW and that something must be done as soon as possible to save the U.S. economy. Only an idiot would believe that he is exaggerating this terrible crisis.
Jack,
You can tell those Fat Cat conservatives on the hill that I'll trade them– I'll go schmooze while they can come wait in the unemployment lines here in New Mexico, where we can't seem to get relief. It's time to focus on the struggling Americans.
Adrian
Albuquerque, New Mexico
Barack Obama is in no way exaggerating the crisis at hand. The politicians of our country have been too engulfed in their political discrepancies to recognize the real problems that we are facing. Hopefully Obama can give them the swift kick that they need to wake up and work for the people who elected them.
In my opinion, what was being exaggerated repeatedly by the Bush administration through the years was that the economy was doing fine. We're in a mess right now. We need dramatic help and Obama has listened to the American people. We are pleaing for help, just ask any American that is suffering through these tough economic times right now. Obama is doing his job and finally we have a president that is listening to us.
Let's see now, 63,000 jobs lost on monday,with more loses on the way, 1 million jobs lost in 2008, Hundreds of busineses closing montly, I would say without a doubt he's telling the truth.
President Obama is right about putting money in the pockets of the poor even if they cant pay income tax. The poor will spend the money to feed their family, buy abetter car and other necessary things in life.
Oreilly and Hannity will only put in the bank and try to get more.
If Obama makes Bill and Sean start paying taxes, Im all for supporting him. If the automakers are straped for cash they could cut the price of the thousands of autos sitting on car lots. This would give them operating capitol
Jack,
The economy is feeding on a downward spiral. I lost my job three weeks ago and I know many people that are worried about their job. We need a psychological lift by the Government (along with actual stimuli) to change the confidence of the American Working Population.
I don't think he is exagerating the economic crisis, after all over 71,000 job cuts were anounced this week. The stock market mess and cost many Americans over 40% of their 401k savings. If anything the Wall street bankers that got so much in bonuses should have to pay them back since they caused the majority of this problem. Both sides need to drop the partisan politics and get together on a legislative package that will stimulate the economy as soon as possible. It they don't drop the partisan politics and start working together we should vote them all out in 2010.
John in Sterliing Virginia
I wonder if the people in Iceland would recommend we stand on the sidelines doing nothing or if they would suggest we stand beside our government who is taking action to help. Hmm
Jack:
I suggest that the 188 House members get a feel for the real crisis when their seats come up for reelection and they get kicked out. Apparently, Congressmen like to get their checks but they seem to think that regular Americans can do without their money. Their actions will not be forgotten by the working proletariet and the Republicans will get their just desserts.
Not if you are trying to get a job, keep a job, get a home, keep a home, get health insurance, keep health insurance, get a car or auto loan or keep a car or auto loan, get a 401k or keep a 401K or keep swindlers from taking off with your 401k or mutual fund. Sounds like some of our senators and representatives have blinders on and only see what's happening at their house and not at the millions and millions of Americans that are financially crippled whom they claim to represent.
The question should be is the media exaggerating. The media is the one reporting the job loses, home foreclosures and the stock market. Based on you all are reporting, I don't think President O is exaggerating.
Is the media reporting the truth???
The United States is losing jobs in the thousands. What does the Senate need to so them that the US in a ressession? Oh if the Tax Payers shed their jobs.
I love it. The republicans don't have the votes to defeat the bill so now their members want to put out there that the crisis is not as bad as it seems–that way, when Obama's plan does work, they can claim, well, it really wasn't needed because it was not as bad as we thought it was. Talk about "spin"! Come to Kansas City and see the closed restaurants, stores and empty store fronts in the "best" parts of the City and tell me then–it isn't as bad as you think!
Of Course, President Obama is not exaggerating. Jobs are being lost by the thousands and people are really flipping out. Who wouldn't? There are lives at stake. This has got to pass so that people who are out of work and no hope of a job any time soon, can finally have some hope. WE are staring down the barrel of the loaded gun of a depression, both economically and as a collective mental state.
Jillie Campbell
Hollywood, FL
I don't think he is exaggerating about the problem, we are in a serious crisis. However this bill smells a lot like the last bailout. Rushed out to give people the impression that Washington is working for them. Anyone watching the job losses knows what the economy needs is jobs. The entire packing should be for Public Works and other like programs that give people jobs. I want to be taught to fish, not just given one.
Once again we the average guy, sees how out of touch the congress is with what is really going on. Millions losing homes,jobs, life savings etc.
Of course he is.
In his Inaugural Speech Obama compared the present difficulties to Valley Forge for Pete's sake! Anyone who tells you that 8 percent Unemployment rivals the Great Depression or Valley Forge either doesn't know their history or thinks you don't know yours...
If we do nothing, the economy collapses, the dollar becomes worthless, no more foreign aid to Israel, Bin Laden wins!!!
No, he isn't. The crisis is real and not being exaggerated. I think the issue is whether his efforts are a realistic response and whether he has taken the necessary steps to prevent a fiasco like the first bailout.
Jack
What planet are these folks on I want to come live there. We have lost over 70,000 jobs being anounded just this week. Obama scaring us!!!
It's our lives these dip sticks are talking about and if we had these politicians 5 houses and big check that they get to vote on their own pay raises. I would say there is no problem also.
It amazes me how we start to look more and more like the ROMANS and how they didn't help the people but their own greedy selves.
The answer is relative, is it not?
If you have a job and are making over $100k/yr then he probably is exaggerating to make his point. However, if you are like most of America, if you are out of work, if you are in your early 60's and recently retired seeing your hard earned nest egg disappear, then NO he is actually understated. We've lost our jobs, losing our houses, and losing hope in the future. Is this an exaggeration to the reality that we are living? I think not. Time for our "over paid, and underperforming" congress to quit this partisan crap and get to work! Thank you.
How can something be exaggerated when it is clearly evident as to how dreadful things are. When we see everyday where companies are laying off or closing, it is a sign that things are bad. So I guess it will take for there to be no jobs for some to see that things are super bad.
How can someone exaggerate possibly the worst economic crisis in the history of the US? No votes from republicans for stimulus–I hope America rememnbers how little they care about us–the middle class
DeMint is an idiot. He needs to come home and worrie about South Carolina. We rank " Worst" in almost all catagories. Education, employment, jobs etc. etc. If you ad up DeMint, Graham and Sanfords IQ's you wouldn't get a 3 digit number.
America voted against this negative governing, Work together DeMint or you will be among the unemployed.
Exaggerate what? Didn't we notice 63,000 jobs lost in less than 48 hours and over 2 million jobs lost in a year? Are you kidding me? What about committing suicide and killing their families because they lost their jobs or banks and corporations going out of business? Jack you can't make this stuff up. This is like an ecomomic horror movie. Only thing is...it is real. Those Capitol Hill folk living high on the hog just cannot see it.
In a word, "yes," I think Obama is hyping the issue to get Congress to approve the package. I agree with Michael Savage that no one can ever spend their way into prosperity. All the jobs Obama wants to create are federal, i,e, taxpayer funded jobs, and all that does is increase our taxes ad infinitum. If he really wants to stimulate the economy, why doesn't he take the $900 billion and give every American 18 and older an equal share of the money. I guarantee that would stimulate the economy with a heck of a lot of spending, Vur Obama, like Democrats in general, believes he can spend my money better than I can. Better the Republicans oppose the package and have it fail than vote for it and get the blame later.
Any one that is ignorant enough to think that the President is trying to create a "Panic" to get his recovery package passed, should take some time out of that ivory tower he is living in a get out to where the real people are suffering. My husband and I have worked all our lives and have tried to live the "American Dream" a few months ago he lost his job due to cut backs because of the economic crisis we are now living with the possibility of foreclosure. My job has been laying people off and are now talking about reducing my hours and cutting my pay. I am the only bread winner in our home right now and carry all our medical insurance. Living every day with the pressure of not knowing if I will have a job, or if we will loose our home or if I can even put food on the table. That is not creating a false panic, that is todays reality. Tell the senators that do not beleive to get into the trenches with real america and they might just see how different the view is from down here.
Is Obama exaggerating the crisis? Of course he is; just like they exaggerated the crisis aboard "Titanic"...
After saving the old dowager, Wall Street, the NeoCons want to lock the rest of us belowdeck. Can't fool me twice!
No. However, he is exaggerating the solution. Poison loans remain syetemic, and the patient is turning blue. The "Bad Bank" concept is what the economy doctors appear to be prescribing more than anything else. Let's let the Eco Docs do their work.
With the way we are sheding jobs, and banks are doing good if they dont louse as much money as expected. What does the GOP want? Are they helping Rush's dream come true and have Obama fail? Who are the Republicans working for anyway? It sure doesn't seem to be for us.
I believe he is exaggerating the crisis to get Congress to act because it is the same story we heard from the Bush administration that if Congress doesnt act, the country's economy will fail tomorrow, and last I checked the economy is still intact (its hurting, nonetheless still in tact) Also it will only be a matter of time (months) before the federal reserve and treasury department's monetary action starts taking effect, along with normal cyclical economic factors that the economy will start to rebound. Based on this, if Obama and the dems can get a package through, they will be able to claim that the package is the reason behind the recovery.
NO Jack
But something need to be done with congress, start by removing Nancy Pelosi, I can see that they only know how to make pork.
Obama has his hands full, and congress is one of his biggest problems, getting them to do their jobs, Congress has done it wrong for so long, I don't think they know how to get it right.
Congress is the PORK.
Pork is like a parasite on a bill.
Pork is not considered for conditions, because the Bill takes all the consideration, and no one cares
What the pork is when they want the bill passed.
But when a congress person is getting favors for getting the bill passed with the PORK in it,
Then that congress person is robbing the people of this country.
Pork should be an unlawful act, and punishable by imprisonment.
for ten years or more.
If money is needed for so called pork projects, then all consideration of the projects should be considered in a bill,
so that money is not wasted.
I think this is just a short cut for congress not working long hours; it’s time that they start work hard like the rest of us.
Jamie P. MI
From the view from my wallet there is no exaggeration. As a matter of fact, this white-collared-median-incomed-middle-class-household's check book has been in a recession for the last few years.
Are people listing to CNN and realizing what is happening in the job market and the economy? Well , my opinion is that we need to do something NOW!!!. I hate procrastinators and perfectionist.
There's no such thing as "exaggerating" looking at thousands of jobs lost-meanwhile on a DAILY basis. I do not agree with every item on the stimulus package but something needed to be done. Words have never fed a family. And the "verbal battle" between Democrats and Republicans had to end. Both sides are responsible for the outcome-either way! Let's hope for the best!
All I have to do is look at what's left in my wife's retirement fund and my 401K account to tell you, for sure, that this economic crisis is for real and you could not possibly exagerate the severity of this melt down.
These Repulicans never cease to amaze me with their hypocrasy. Its ok to spend billions a month on a unjust and unwinnable war, But to help the people start to climb out of this financial crisis.,they want to put on a holier than ,though financial face. Send them all back to their districts and let them see what their constiuents are really going through.
Well... I guess that if, like Senator deMint, you have a job that's guaranteed till 2011, and an excellent healthcare plan and a nice government pension when you're done, you could be expected to think that the economy is not in crisis. But those of us in the real world realize that yes it is.
No . I don't . It seems that the Republicans are being immature again like they have for the last 8 years. They are pathetic and dont really care about their country as much as their own butts. I wish they would all leave. Miami fl.
Exaggerating? You have got to be friggin' kidding me. Yeah, big exaggeration... millions unemployed...no big whup....millions of families losing their homes and on the dole... what me worry? It appears the only ones engaging in exaggeration are Republican politicians who are grossly exaggerating their importance in this whole process. GOP–roll up your sleeves and help the country out or get the hell out of the way...because it will get done with you or without you, and no, I am not a Democrat, but an Independent, who is disgusted right now with the right.
Good Grief,
What are we thinking here. Companies are laying off people by the thousands, not monthly but daily. See this is what people are sick and tired of politicians making their priorities more important than ours. No Obama is not making this worse than it is. Duh ask the few thousand families that loss their jobs yesterday how bad they think it is. Remember republicans this is NOT about you this is about Every AMERICAN. Stop this see saw mess and save these peoples jobs.
Obama is trying his best to help, stop playing head games with him and American families. WE PUT ALL YOU PEOPLE IN OFFICE REMEMBER!
Well Jack, you might start asking your network as it is the lead story every night. There maybe some problems with the stimulus bill, but the job loss and home foreclosures are real. I am a Clinical Social Worker and hear stories and worries everyday. The threats of job loss, bankruptcy and anxiety that goes with is the reality that the Bush legacy helped to create. Yes Jack, there really is a financial crisis.
Simple fact. With each passing day, millions of families like mine are struggling to keep our roofs overhead of our children. The only dream left of our American Dream is to keep what we worked all our adult lives for.
Jobs is being lost at an alarming rate and as things are going, it is only a matter of time to see tent cities of homeless American families popping up all over America outside of cities. Foreclosure has got to stop and our government needs to help the working people of America who are now jobless and loosing spirit.
No, President Obama is not exaggerating the economic crisis. If anything he is being totally truthful with the American people, and his plan will slow the bleeding of this ever worsening economy. Pres. G.W. Bush and the early GOP controlled congress (Bush's 1st term) ran up a sky high deficit and allowed the banks to make the bad loans and the economic mess in the first place! Now the GOP in Congress wants to pout and be obstructionists with the new stimulus bill. I predict in 2010 the GOP will be an even smaller and quite insignificant minority in Congress.
No!!! I feel Obama understands the needs of American citizens. It’s not an exaggeration….it’s the truth. Something must be done!!! I feel the Republicans are still bitter about the election and will not cooperate with President Obama on any issue. In turn, this makes them look bad. At least President Obama can say that he streched his hand out for bi-partisan support! Us as Americans can clearly see that he has tried!
Absolutely NOT! Just in the past 24 hours, in Westchester County, NY a supposed economic strong hold, I learned of 2 close friend's being laid off and last week I learned of 10 friends losing jobs. All from this area. If Republican's aren't seeing how desperate the crisis is, then one needs to ask, why aren't their jobs being lost?
We just lost another 4600 jobs on Mon. He's not exaggerating anything. I wish the Republicans would start thinking for a change. This is a crisis in every sense of the word and is heading for a catastrophe.
oh, quite the opposite. the economy is truly in such dire straits.
what company do you know of that has been adding thousands
of jobs? who do you know of that has sold their home and is
looking ot trade up?
I don't know how anybody could say that with a straight face. We are in the worst economic crisis since the Great Depression and Obama has the council of some of the best minds in the world. He is following their recommendations and we have little choice but to go along. I feel any money the government "borrows" and puts into combating this crisis is a step in the right direction. We may need a trillion or so more.
Mr. Caferty,
I am a software engineer with a degree. The fact that I've out of work for over 2 month and that on an average there are 70 applicants, as some of the hiring managers tell me does in no way suggest an over exaggeration.
Eric M
Colorado Springs, CO
Hi Jack,
There is an irony here. Was it not the GOP who created this crisis long before President Obama took office. Why did the GOP not stop former President Bush from creating this crisis. I think the GOP are doing this intentionally all because it is President Obama in the helm and one of their own. I am not surprised. They should get their acts together and support the President to get us out of this crisis. They just want the tax cuts so they can spend lavishly like they did in the Bush era. We are smarter than that.
The economy was in nightmare status before President Obama took the oath of office......anyone who thinks there is hype in any description of the current economic collapse is in big time denial.
The United States is losing jobs in the thousands. What does the Senate need to see that the US is in a ressession? Oh if the Tax Payers shed their jobs.
If it is not obviouse that he is exaggerating, I don't know what is. This entire situation regarding is all about politics.
Pres. Obama will only be here for one term if he does everything that he says he'll do. His foreign policy gets less and less extreme everyday that he is in while his domestic policies do just the opposite.
Jack, Obama is doing a very rare thing in Washington. He is actually telling us, the public, the true about our economic situation. Something that is, in my opinion, required of all of our public servants. Action is needed sooner than later. Now is not the time to sit back and think about the what ifs like Sen Demint wants to do. We need innovative action based in thinking outside the economic box. All past trends simply do not apply anymore. Good for Obama! Let's hope all of these actions will be good for the country too. At this point what will be is all up in the air.
I am living in Canada and wondering what the republicans are up to. They voted for george bush on all his bogus plans, sent americans troops to die for an unjust war, caused america in a recession and the world. George Bush gang of thugs should be tried for negligence on the economy and tried for genocide
Exaggerating??????? Maybe the Republicans should watch the local news every night when they start to tell you about the plant closing and the cut backs. We are from Michigan, we lose our job, we lose our house etc. The Republicans need to step into reality......
Diane
Michigan
Sure, the Republicans want enough of their ideas in these bills so that they can claim it was their ideas that saved the economy. Fact is, it was their ideas that got us in this mess.
The Republicans are acting like a bunch of clowns tripping over their own giant feet trying to prevent Obama from suceeding. This could be the start of the end of the Republican party and to me, an independent, that would be a shame. We need all the ideas we can get, but the only thing I see from them is obstructionism. Their leadership is pathetic!!
Jack, maybe we should ask the 73,000 people who were told they would be losing their jobs yesterday. Or how about the family in CA yesterday that felt when they both lost their jobs that the only way out was to take the lives of their entire beautiful family. Pres. Obama inherited this mess, people are desperate and I applaud him for at least trying new ideas which is much better than Bush did. The trickle down econ can't work if it stays in the pockets of the very rich. Leave Obama alone - He's our last best chance to get out of this thing!
Debbie – Franklin Furnace, OH
Jack.....the looting of the US Treasury by the wealthiest people in the world (called a "bailout") must STOP. This "stimulus" is outrageous! I have never seen anything worse in my 34 years as an economist.
Don Reynolds
Austin, Texas
Absolutely NOT! Hasn't anyone been listening to CNN news? Thousands of jobs are being lost each day and someone says this is exaggeration??? I was lucky enough to keep my job this week, but several of my friends/long-time co-workers lost their jobs. When are these politicians going to 'feel' the urgency of the situation we 'little people' are in??!?!?!? Maybe the term "lay-off' needs to be applied to 'their' jobs, then lets see how dire the crisis becomes. At a minimum, lets talk about cutting their salaries by 25%. They'll stand at attention then.
Did Pres Obama EXAGGERATE the 71,000 jobs that were lost on monday alone? It would be nice to think the situation the country is in isn't SO bad, and that the facts are being manipulated by the White House or the democrats in Congress, but the sad hard truth is that this crisis really IS THIS BAD and the Senator is wishfully thinking that Obama is creating crisis and widespread panic to insulate himself from the shock that will surely come when he realizes the truth. Don't be too hard on the Senator though, remember he is used to a Bush Administration that manipulated facts all the time! Poor guy, he'll come around as his constituents loose their jobs, homes, and health care like the rest of the US.
Are you kidding? How much of the house has to be blazing and collapsing around you before you believe the smoke that's choking you means there's a fire? The world's economy is imploding, led by the collapse in the US and someone believes that Obama is crying 'wolf'. Dear God, is there no hope for the members of the Republican caucus?
I believe there is a crisis over stated or not. My question is, where is the provision for smarter energy. His "clean coal" ad runs constantly. Why isn't there a coupon for solar panels/windmills instead of TV conversioin. If americans can't pay their electric bills what good is a digital conversion box. I think the bigger crisis we face is the dangerous democratic/republican ratio in our government.
Yes, President Obama, the media and most of our distrusted legislators are exaggerating the current economic "crisis". It's not a crisis, it's a recession–they come every so often and work themselves out. The manufactured crisis is just a method for the government to get programs they want and dollars to spend that they couldn't get without a crisis. I've yet to hear anyone in government explain what the "crisis" is and what will supposedly happen if the taxpayer doesn't pony up.
Jack,
Ask those who have lost or are losing their jobs and homes if Obama is exaggerating the economic crisis. Ask those who are not taking necessary medication, but can't afford to pay for them if Obama is exaggerating the economic crisis. Ask those who can't afford to heat their homes if Obama is exaggerating the economic crisis. Ask those who can't afford to feed their families if Obama is exaggerating the economic crisis.
The only exaggeration by the Republicans continue to believe the no action is needed for this real and scary economic crisis!
Bridgette O'Neil
Rochester, NY
Obama goes out of his way, to get his way. But it's always just about symbolism in the moment. He knows he can command center stage with his flair for the dramatic. But this is already wearing thin. Just look at his obviously intentional abuse of the LGBT community–a slap in the face that was so gratuitous it was stunning. Turn off the sound when Obama speaks, and then watch what he does after he's finished with his rhetorical flourishes.
No, he is certainly not. What is exagerating is the republicans pretending not to have clue as to the need of the "Little People."
It amazes me that after 8 years of Bush and 6 years of a Republican Rubber Stamp congress that got us in this mess than anyone, including the media, would pay then any attention to them at all!! We elected President Obama because he stands for integrity and honesty..something the Republicans don't practice! They need to stop strutting around like they are still in control of the henhouse..they aren't...they have bankrupted the henhouse...but they don't seem to get that..We the poor and middle class will not forget all the
posturing and Rhetoric of Republicans..Let our new President start to get us on the road to recovery...that's why we elected him...The Republicans only care about the Big businesses that were allowed to get us in this mess in the first place! They don't care about the poor...they care about the rich!!
are you kidding? with the loss of jobs and the banks still not lending it would take a miracle for the economy not to go belly up. the president in my opinion is not doing enough to emphasize the urgency for the need for the "right" stimulus.
Heck yeah he is fear mongering!! No "change" in his politica tactics. He wamts to spend and provide welfare checks (he calls them tax cuts) with OUR MONEY!! How dare he! Has ANY stimulus plan worked? NO. No one can prove it, because all stimulus have done is drive up debt. A real plan needs to reduce personal and corporate taxes. We don't need bigger government and more debt!!! Spend less and and accept the private sector is the one that creates jobs, not the government. Mr. Obama: Read your history book: Reagan proved government is not the answer, it is the problem.
He's not exaggerating the crisis, but he is forcing Congress to push the bill through that doesn't appear to address the real crisis. The crisis is simple; people need money, jobs and housing. Give us tax cuts to buy goods, give us rebates to pay toward our defaulted home loans, and build a bridge so my neighbor can get paid to help build it. The stimulus package appears to have little in the way of stimulus and a lot in the way of pork. Regardless, by the time the stimulus money is flowing in the market, the economy will have begun to recover on its own. For every action there is an equal and opposite reaction. Our statesmen, however, are overreacting and the result will be worse in the long run.
The Republicans care only about power. They could care less about what this recession is doing to everyday Americans. All they care about is tax cuts for the wealthy. It's their stewardship that created this economic downfall, and their arsenal of ideas is bankrupt. I trust President Obama over them anyday.
No. I think the average American is petrified by the pillars of our world that are crumbling around us. The job loss rate is staggering. Our savings are at high risk. Meanwhile, the Republicans, who didn't say boo when Pres. Bush ran up a historic deficit, suddenly want to scrutinize government spending that might actually help the economy. They are self centered politicians who care more about their party than the country.
exaggeration is an understatement, but evidences of a weaken economy are clearly portrayed, thanks to Bush and the spending conscious Republicans.
No, in fact things are worse than what even President Obama suggests. The vast majority of those serving in the House of Representatives and the Senate have large enough incomes, health insurance, and travel expenses, that they are completely out of touch with the average American. I'd like to see one of them work for minimum wage for a month. They got us into this mess, now it's there responsibilitiy to get us out. I'd rather my tax dollars go to projects that will help the average American, not the large banks and holding companies.
Jim DeMint represents the People of my state. A fact that often is obscured by his ego and need for media attention. Shall we just wait and do nothing to find out if President Obama is exaggerating? If Jim DeMint has a better idea, I believe that President Obama is willing to listen. He did meet with the Republicans and extended his hand to hear them out.
The state of the crisis is obvious to all of the working class people in america.
If any exaggerating is done it's not by the Obama team.
Maybe those who are against this stimulus plan should ask the tens of thousands of soon to be former employees of companies like Circuit City, Catapillar, Home Depot, and Starbucks if the President is trying to use scare tactics to get this plan through. I dare say that those employees would strongly disagree with those paticular congressmen.
The only people that thinks President Obama is overstateing is not livingi the US. I can't understand with all the job losses and unemployement so high, people home are gone where are they at when they say it not real. think again this is what the people did not vote rep. back they are not intouch with the people. but iwth a party.
Jack, with respect to Mr. DeMint the numbers do not lie. I am a freshman college student in intro to Macro – today we looked at the major economic indicators and the only one without a glaring negative sign in front of it was exports..... only people abroad have money to buy our products! Things are getting out of hand and we need RESPONSIBLE action by congress now. Personally I am feeling the pinch too, so much for my job at Circuit City this summer.....
I am impressed with the Presidents swift response to get the economy rolling again. Republicans obviously see their future in opposing the Obama Plan (whatever that plan is). If America turns itself around under Obama's leadership, the republicans will be shut out of the process. The republicans have created a mess and the american people need to be united to find a solution.
YES. Obama is using the economic struggle to push legislature through. There is too much in this bill that does not directly stimulate the economy. As well, I'm not convinced that all this spending helps. I worry about the long term problems we will face because of the huge deficit
Family planning is good, but it doens't belong in this bill. Increasing satellites and sending money for global climate forecasting does not belong in this bill.
Obama is taking advantage of this crisis.
Exaggerate? I don't think it's possible to exaggerate this mess. Something must be done, and done soon, but the prima dona Republicans are still whining because no one is listening to them!
Where have they been for the last 8 years? Give them a little attention and they go nuts!
Are you serious? Exaggerating? How about asking those that lost their jobs, their homes, their life savings, their dignity, and now lives if this crisis is exaggerated. It's like saying a woman is a little pregnant, the heating gas bill is a little high, or giving bailout monies to those giving big bonuses is a little stupid.
Exaggerated? Oh, hell no! My son is just waiting for a letter from CitiMortgage right now, telling him his home is being foreclosed on. After exhausting every effort to talk to these high-and-mighty jerks, he's been told there is nothing they can do to help him. I'm sick and tired of all the crap, and I'm sure I have a LOT of company!
Exaggerating!? Tell that to family in the top story on CNN.com today.
Jeremy Combs
West Hollywood, CA
No he is not. You don't have to be an economics genius to see that this country is in trouble. Any pressure that President Obama can bring to bear on this Congress is OK with me. Whatever it takes to get them to act. At least he is trying to reach out to the oposition. What a nice change from the last eight years.
Nancy
Weatherford, Tx
Humm............ lets see, the republicans didn't have a problem passing their own stimulas package while they were still in control and we all know how well that has gone. They can't stop acting like little spoiled kids on the playground who can't get get their own way, so they won't play nice. Keep it up guys, there won't be any of you left by 2012 to run for anything except for a place to hide.
No Jack, President Obama does not need to exaggerate about this mess Joe DeMint and the Bush boys left the country in. One need only watch the shedding of jobs by corporate America (R) to see the effects of the tax cut ideologues. Besides, Joe DeMint was a voiceless pleb until time for reelection now ready to drape himself in the Confederate flag in pursuit of final victory for the south. For you see Jack, Joe is so outdated that Obama's victory means he must rally the troops against the coup of slaves overtaking the White House.
Let's see. Last year my grandson lost his job. My wholesale business is in jepordey and I have just cut my full time staff to half time. It seems everyday a large company announce hugh job cuts. I am 67 and my stock portfolio fell over 50% last fall. i live in Ohio and the state is in such bad shape they called me on a 12 year old tax debt recently. No I don't think Obama is exaggerating. I don't know if this bill will do the trick but something has to be done.
Linda, OH
I think the loss of over 80, 000 job in two days speaks for itself. President Obama is not President Bush, he has his own style people need to accept that change has come, get use to civillty
Excuse me, Jack, but didn't the majority of this country just vote for the very changes President Obama is putting into the new stimulus package, which he outlined during his campaign? Back off, Republicans. Things got this way on your watch, for the most part. The former tax cuts did nothing to stimulate the economy. Let's try putting people to work fixing our crumbling schools, roads and bridges. Now there's a win-win for everybody.
Of course he is using fear to help pass legislation faster. Every person in a position of power asked to "fixe" something quickly will do the same. The problem is that you can't fix an economy. An economy is a breathing living organism that has its highs and lows that needs time to heal. Consumer confidence needs to be reestablished and that can not be changed in weeks or even months
No Jack,
There's no need to exaggerate this mess. The approach is all wrong, don't give money to the ones who blew it for us all. If I did my job like they did I'd be selling pencils on main street... If they would give all legit tax payers $100,000 imagine how stimulated the economy would instantly become, people paying their mortgages, putting their children through college, buying cars,( wouldn't have to bailout Detroit), even if people took trips it would help the airlines, etc. After all it is our money, or should i say it's our children's money. WE vote, but have no voice... America??
I'm sick of Republican talking points. They are so bloated there brains have quit working.
This is what Greenspan himself has said,
"The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war."
People are killing themselves and their children after having lost their jobs.
Of course he is – He has been doom and glooming us for as long as I can recall – at least ever since he realized it would get him votes from those who want to be swaddled in the blanket of government. As for those of you who blindly approve of this recovery plan and tout "Tell that to thousands loosing their jobs!" How about explaining to the thousands loosing their jobs why this plan is full of pork! 50 million for the arts?!, 350 million for STD education?! – I dont see that putting alot of food on the table of the unemployed american families!
Hey Jack,
Tell the nay-sayers to look around the world. Doesn't take much to figure out there is a problem. Our government told us in November that Canada didn't have a problem. They aren't that bright as our leader Harper likes Bush politics. All of a sudden when he found out that our other parties were going to join together and hold another election to kick him out of office he cancelled parliament and started on the 2009 budget to try and save our butt. Canada wasn't going to have a deficit at the end of our fiscal year according to Harper in November but when push came to shove, guess what all of a sudden we had a huge recession happening in our country in a matter of weeks according to our conservative government and they came out with the largest budget in Canadian history to put us in a huge deficit yesterday. Trust me Obama isn't exaggerating and I would rather follow his take on this than the Bush/Harper take any day of the week.
Debby in Canada
You people at CNN never get it right, do you? When you should have been asking scrutinizing questions during the last administration, you lowered your head and tucked your tail; now when you should be trying to be helpful, you are sowing all these seeds of doubt in the name of balanced journalism.
Where was all this questioning when Bush took us into war, or when he pretended like there was no economic problem? If Obama ends up succeeding, I hope at least you will be as fair in giving him the benefit of the doubt on his future Administrative endeavors.
No I don't think he is exaggerating, I think he is going by the information that he has received from his advisors, I just don't think the economy is as dire as it is stated. But anyone that thinks that stimulus plan as written will stimulate the economy needs to to get real.
Frank
Cape Coral, Florida
-Hey Jack, it amazes me how somehow now epublicans have all the answers. Tax cut, tax cut, tax cut is all you ever hear from the GOP but what of the Bush tax cuts of 2001? I tax cuts are the answer ten why is the economy so bad now? It amazes me how the GOP does not want to invest in America but they are so patriotic. Obama is no Bush, I mean he reads, he is smart, he can pronounce words like nuclear. over 70,000 jobs lost on monday alone and I am going to hate to hear how many jobs were lost this month. We need stimulus to create jobs and this stimulus bill will create jobs. How would the GOP now anything about creating jobs. They better worry about keeping their job because hey I may want to run for Congress.
I think that this question should be directed to the countless number of people who have just lost their jobs, don't you think? I'm almost certain that they would tell you that there is no exaggeration about how this economy stands. Panic, exaggeration? That existed with Bush, where you were told that the boogie man existed but you didn't see him. This time around you get to meet him when he hands you the pink slip! And no this is not Obama's doing, but he's trying to fix it, let's give the trial a chance, we've experienced failure let's see if we can grasp success.
president obama has no need to exaggerate the crisis. it is reported on and editorialized in minute detail 26 hours a day – every day. reporters no longer report the facts – they add their own personal doubts and hestitations. i cringe each time i see the reporters in the white house press room, demanding answers to questions that no one can answer and expecting answers written in blood that they can hold someone accountable to at the end. give the president the benefit of the doubt that he is trying to meet the obligations he set out to meet. the republicans are nailing the coffin shut on their own party with each new attack they set loose. there is no value or merit to the roadblocks they are setting before those who are trying to meet the challenges ahead
Exaggerating!? Tell that to the family in the top story on CNN.com today.
Jeremy Combs
West Hollywood, CA
Well I guess if you're lucky enough to have a job, a home, and money in the bank, then yes. But tell that to the millions who are out of work, foreclosing on their home, 401k shrinking, and unaffordable health care. Was this a rhetorical question, or what?
Exaggerating? How can one exaggerate hundreds of thousands of jobs being lost over the past month? Some things in the bill may not stimulate the economy right now, or "at all", but it all is relevant to where we need to go as a nation. How about we not pass anything, lets just sit around and reinvent fire...because that's where we are heading if we don't do something NOW.
He's not exaggerating the situation at all, he's actually one of the few that is man enough to tell it like it is. Is the thousands of lay offs happening every day an exaggeration? 8 years of wrecklessness on the part of the government and all media outlets has resulted in a superpower spiraling out of control. We need something to stabilize this sinking ship before it's too late. Life or death questions always require an imediate answer, would Demint always answer no?
chris
san diego, ca
Congress controls the funds, so instead of business as usual and the divisive leadership that Palosi offers why not simply tell AIG that there will be no bonuses or return the bailout funds immediately. I am sick and tired of the finger pointing and the Bush bashing, lead, follow or get out of the way!
Congress is and has been our problem, we need more change starting with Nancy Palosi, I hope voters will make the change next time around.
The problems President Obama intends to address are rooted in the past . Not just because of the bush administration. The economic issues are a direct result of the government failing to act proactively. We are behind in Exports, healthcare, Education, A direct result of giving the american public just enough, If we werent neglected by "Republicans" we would would still be number 1 and maybe not in this situation.
Are you kidding me??? Here we go – bi-partisan politics alive and well – when are our elected officials going to do what they were elected to do instead of engaging in "ego" contests? Everyone is so afraid that the other guy will get credit if something works – meanwhile the electorate is suffering. My friend found out today he is losing his job after 20 years with the same company – my son-in-law has been notified that he is getting laid off next week – come on guys – we don't have time to wait for your political and egotistical games. The political battles of the past few years have gotten us nowhere – let's get to work – maybe the votes should be anonymous and then maybe we could get some results!! And while I'm at it – SHAME on those who have accepted the extravagant bonuses – man and woman up – offer them back! Help out someone who is losing their home! Greed on all levels is what has gotten us into this mess.....
Are you kidding Jack? The man just got in office less THAN A WEEK AGO. He ran, and won (and won BIG) on this stimulus plan because the American knew we were in trouble years before the Grand Old Traitors in Congress and Georgie-Porgie ever did. So no, he is not exaggerating anything: you're exaggerating the relevance of the Republican objections, the objections of the scum who put us in this sewer with their self serving economic policies!
Yes, there is a real crisis; however, the fat cats will do fine but for the rest of us it's "hey buddy can you spare a dime?"
Well, I don't believe that President Obama is exaggerating the crisis. Yes, we are in a major enconomic meltdown. However, I don't believe that we should be rushing to make decisions without reviewing our options (we did that with the first bailout plan–and it has not worked). While I am a democrate, and probably considered liberal, I do not feel this is the time to pay for pet projects–even needed social service programs. People are hurting. The goal of any stimulus plan should be to put disposable money in the pockets of the people. And, remeber every day people are the key consumers. That should be the focus of this plan. Not, art (and I'm a big art lover and believe in art programs), not STDs (albeit this education is important). Plus, all of those individuals who are part of these programs would still benefit from a plan that would help all Americans, such as lower income taxes, more unemployment benefits, less property taxes, and mortgage loan reforms–where people can adjust their mortgage interest rates to a lower interest. Again, this is about putting more disposable income in the pockets of the people so that they will be encouraged to spend. Spending leads to making more product, which then creates jobs.
So, the crisis is real, and serious, but the stimulus package should not be rushed overnight and Congress should effectively determine if this plan will benefit every day consumers by placing money in the middle class and poor pockets to generate disposble income that we can spend to get this economy going.
what is amazing to me,is that under the republican administration this financial debacle was created. Then Paulson threw 700b into the system with no oversight. Now they are complaining about pork. Please guys get real, try to work together to get us out of this mess.
Charles
Jack;
We are in crisis! It doesn't take a rocket scientist to figure this out. Banks closing, unemployment, no jobs, big companies laying off thousands a day and we can't afford food, heating oil..thats if you still have your house to heat. President Obama is not making this up. The economy needs a shot in the arm to energize it.
Linda from Maine
Jack, it's the NATIONS' ECONOMISTS and business community who are telling our President that we need to act urgently on this crisis; he wasn't the one who created the sense of urgency – he is only reporting and responding to it. Let's not kill the messenger again!
Jack,
Another 'Herbert Hoover' act on the part of the Republicans. Big Business bailout-NO problem; help for the common man – forget it.
No, Obama has said he didn't know if this package would bring about the needed help, but doing nothing was NOT an option. So he even asked for suggestions, and got none.
Let's wait a year, or a decade, and see what the Republicans DON'T come up with while the deep recession becomes a depression!
I do not believe he is exagurating the problems. i have seen the problem first hand. I have a degree in programming, had a good job, worked hard. I had a family in germany i wanted to bring here to the US. I lost my job along with many others in the company i was with. My old boss was a good man has been devistated having to lay off so many good people. We have lost so much do to the problems that have occured. I am no longer able to bring my family because i dont have a way to make sure they are taken care of. I have watched the apparment complex i live in empty out due to job losses. Had to talk to my friend about him having to lay off truckers due to no work for the truckers. If this isnt a major problem then i dont know what is. But hey im not a rich company so I guess its not that bad for me. Or mabey the people who realy matter are people like me who want to work and believe that if given a fair chance we would help pull this economy out of the dumpster by working hard. All we need are the jobs.
No. It's worse. It's also more complex. On just the topic of jobs: we've been leaking jobs to the rest of the world for 30 years. It started with our manufacturing jobs, our steel industry, and electronics. It eroded further to include white collar offshore outsourcing. The unemployment rate has always been a shellgame as it's gathered through telephone interviews, and long-term unemployed people lose services such as telephones. Currently, many have given up landlines and gone to cellphones, which do not get queried for statistics collection. The credit industry has killed the goose when they raised rates in both housing loans and credit cards to unpayable. This is just the beginning of the collapse as credit companies will continue to tank due to rising unemployment. The ugly has just begun.
Give me a break, you can"t exaggerate it enough. The billions we spent on the war and still are, why does anyone have problems with a stimulus package that at least is trying to help jumpstart our economy, which would not be in such bad shape , had we not gone to war at all.
Speaking as a common man and not understanding all the ramifications of whether this huge amount of spending is the right or wrong thing to do, I won't judge as to this being exaggeration or not. If the Stimulus Bill doesn't get passed and the economy gets even worse,I don't want to look back and ask, "Why didn't they do anything?"
Jack,
The winds of change are starting to have a familiar smell. President Obama needs to rope in Pelosi and put forth a bill that actually provides what the american people want and need not cans of pork.
Are you kidding? How much of the house has to be blazing and collapsing around you before you believe the smoke that's choking you means there's a fire? The world's economy is imploding, led by the collapse in the US and someone believes that Obama is crying 'wolf'. Is there no hope for the members of the Republican caucus?
Come on Jack! How can you ask a question like that? When the nations unemployment is at its highest in decades, foreclosures are are through the roof and some of America's biggest and oldest businesses are looking for bailouts.
So the answer is "no" in fact the problem is the people not responding with a sense of urgentcy don't seem to be in tune with the problems and therefore does not understand the impact it is having on everyday Americans. They just don't get it.
No, I dont feel like he is exaggerating. when you have areas like Elkhart County in Indiana is at 15% unemployed. And still getting worse. Those people and millions of americans out of work, how does anybody feel that he is exaggerating. The people that feel that he's exaggerating is not in the unemployment lines. I think some of the stuff is not needed right now that he has in his package. But I believe they need to get the people back to work.
No I don't think the president is exagerating. Has anyone in the congress read any newpapers or listen to the news! Jobs are dropping like crazy.We need help now.I do however think that all the congress is underreacting as if there is all the time in the world. I have been watching them on cspan for a few hours now and they're all behaving like a bunch of bullys in a school yard. It's time for them to stop screwing aound and get to work seriuosly. People are Literally losing thir jobs, homes,their livelihoods.
I don't think President Obama has to exaggerate anything. Anyone who can't see just how bad things are with all the job losses, businesses closing, home foreclosures, etc, is blind, stupid or just plain partisan/republican. Republicans want to see Obama fail...even if it means this country crashs and burns. That's real patriotic! Their party is dying and they want to take the rest of the country down with them. Let us not forget who caused this mess in the first place. Bush and the republicans had majority control for 6 of his 8 years in office.
Yes and no, but all I hear is criticism without any other solutions...I don't think those people in Washington would know a real crisis if it hit them in the @#%$^...Barbara
Obama is not exaggerating if the media is correctly reporting the number of people losing their jobs. I live in a small town in Pennsylvania. We had 5 car dealerships. Now we have three. Home Depot is laying people off. The trickly down effect will put a lot of the small businesses out of business.
I just left the grocery store and noticed a mother with three small
children in her buggy purchasing Ramen Noodles and a 10 oz. package of french fries. How many many Repubilcans do you think are eating Ramen Noodles for dinner tonight ? Probably none, it
would be too much of an ex – ggagera -tion .......... right?
Senator DeMint is from and represent South Carolina. What else do you expect? May I remind you that South Carolina was the first state to suceed from the Union many years ago. Trust me, not much has changed there. I left there many years ago and refused to go back bcause of representation like Senator DeMint.
The economy is hemorrhaging jobs at a terrible rate. People are in debt up to their eyeballs. I do not see an economic recovery for America that is not led by job growth and the income that generates for the middle class. This recovery will not be led by the private sector which is looking for government assistance and tax relief that they will hoard until direct government investment and job growth therof stimulates demand for goods and services in the private sector.
Exaggerating the crisis? Are you serious? The country has lost near enough 2 million jobs in the last year he doesn't need to do a thing for anybody with half a brain to see there is a crisis, weekly there are 100 000 jobs being lost. He is however doing what he can to ensure that we right this ship. The GOP opposition is largely because of the welfare spending and healthcare spending provided for in the bill. HELLO GOP these areas are the same areas that need that money because of all the layoffs you idiots. When you don't have a job you claim unemployment when you don't have a job you can't pay for that expensive medical insurance so you go with medicare for your kids. Your country needs you GOP get with the program. They keep hammering on that its socialist this and socialist that, its not, its the government picking up the slack that the incompetent idiots of the unregulated BUSH economy caused.
No, that's just more right wing scare tactics.
Look closely; what you’re really seeing is the end of the Republican Party.
Yes, I said it, the end of the Republican Party!
After Mr. Obama's efforts come to past and the nation looks back at how we got in this mess and, more importantly, how we got out of it; there will not be one republican who can claim ownership of the recovery, and there certainly isn't one that will take the blame.
Also, if the head of the Republican Party is Rush Limbaugh, you must be kidding.
What was that drug he was taking?
Jack, Obama is exact, not exagerating in his assesment of the economic situation. The economic statistics tell it all. Almost everybody I know is unemployed. Only people on Pluto will deny this crisis
there's no doubt we are in an economic crisis. It's deep, and it's far reaching.
Congress takes forever to act on ANYTHING except going on vacation and raising their salaries.
Even if Obama was exagerating – which I certainly DON'T think he is- I believe it would be justified. Think about it Jack – If the economy isn't completely messed up yet, if he didn't push and exagerate, by the time congress acts, it WILL be completely screwed up. And it wont take 850 billion but significantly more.
So – we have to spend the money anyway. Better sooner than later. Otherwise it becomes the TYPICAL government way – what we tax payers don't pay up front, we end up paying later.
Jack, 40,000 + jobs lost on Monday, 6,000 today. What more do we need? This is not including the millions of jobs that have been lost over the past year. I work for a cell phone company where I hear stories daily about trying to keep the line onto get a call from a job they've interviewed for. When all of these nay sayers ask why we should we bail out people, they should remember that they are on a job for now and tomorrow is not promised. The only people with safe jobs are the Prsident; for 4 years; Congress for 2 years and Qprah Winfrey.
Is he exaggerating? Definitely not. Why do we have to wait when the economy is at its worst to make citizens understand the underlying negative effects of where the country stands? President Obama is taking over the responsibily of solving a problem which was already there before he became president. The only way to achieve any solution is to make individuals aware of the effects. He is not exaggerating, he is doing the best he can to show the republicans he is willing to work together.
Obama is being more realistic than the House or the Senate. They don't have to worry about their mortage, their job or where the money for retirement will come from. We do. The, so called, middle class. It is important to get money back in circulation. The Banks will not do it. So Obama is charging the way to recovery.
he is certainly not exaggerating the crisis; all you have to do is pay attention to the daily news of exploding layoffs;/closings/firings of the US companies going under. Meanwhile, the CEO's, the politicians, the "government" continues to play games with the people trying to make a living and raise their families all the while bailing out THEMSELVES; all the while showering themselves with anything they want; the hell with the ordinary person. What a joke; we voted for Obama, and , although it is early in the decision, are wondering if we did the right thing. We can only pray.
I do not know if he is exaggerating or not, but I know that when I pay my bills next month I will be broke, the month after that ??
I do not think he is exaggerating.
No President Obama is not exaggerating the economic crisis. The crisis started long before he was even elected. I think what is exaggerated is the Republicans crying that the Stimulus package is full of big Government pork barrell spending. The republicans are made that there is no pork left in the barrell to fill their appetites for their own agendas.
Not at all. He certainly wants Congress to act. President Obama tried to compromise with more than a quarter of the stimulus package comprising of tax cuts, but Republicans it seems, won't be happy until the budget is entirely a Republican one. Obama is following in FDR's footsteps. Good for him! He [FDR]was re-elected three times for his progress in turning around the U.S economy. He knows it's time to invest in crumbling infrastructure. I do agree with the Republicans that 650 million in digital tv coupons is pork, though. Good luck, Mr.President!
Unemployment continues to climb rapidly. Major corporations announce each week thousands, if not tens of thousands of new layoffs. Foreclosures jump dramatically over the last year. The banking and financial services industries are turned on their heads. The Federal Reserve keeps interest rates near 0%. Even "recession proof" Las Vegas is begging for people to come and stay. And now the Republican party suddenly remembers that they are opposed to spending taxpayer dollars. Give me a break!!
Jack, as business owner and an investment adviser I speak with thousands of people over a year as well as analyze various economic data to make recommendations. I would say President Obama is not exaggerating about the economy, if anything he may be understating the problems for I believe more is to come.
I really don’t know if he is exaggerating the crisis. Many of these meetings have been closed to TV cameras. What happened to this 'transparency' in government he spoke of?
What I do know is that after 2 stimulus packages I still haven’t seen any real improvements. I’m still unemployed and I still don’t have enough money to go back to school to learn a new trade. I would like to know how any of this money is going to help me get a job. After all, at least some of this money came from my income tax right?
DeMint must live in a bubble. I live in LA where we went to bed last night with the news of a dad who took the life of his wife, 5 children, and then his own after both he and his wife were laid off and saw no hope. That is crisis DeMint and Obama did not create it. These are not weapons of mass destruction. These are living and breathin and most important VOTING Americans that are demanding action. How many more seats in the House and Senate do you have to lose until you see the real world from your far right view. Your view helped create this crisis. In the wisdom of the American people Obama was chosen to fix it. Get on board and help or get out of the way and be replaced. As my parents taught me: you are part of the problem or part of the solution. I have chosen the latter.
I think America is divided.
Republicans will be Republicans and Democrats will be Democrats.
The country voted for Democrats so if its wasting time to seek Republicans then President Obama and the Democrats should go it alone. Republicans just do not get it. I guess Republicans are the Rich Citizens.
The situation is all too real. Don't need any exagerration. Go the the real people outside of Washington's Capitol Hill. Let them tell you what they are going through. Visit Any Town, USA in Michigan, Ohio, Nevada, California, Arizona, Georgia, New Jersey, South Carolina, Oklahoma, Arkansas, etc. Get a feel for how desperate workers, service agencies, health care workers, educational institutions and the like are suffering. As long as the government provides transparency and a mechanism of cutting back on programs that does not appear to be working, urging "every" American to roll back their sleeves and jump in with real hard work , we can prove something that can positively reflect on our concerted efforts.
Let's see in the last two day's and America has lost over 75,000 jobs and counting. So the Congressman and the President can say anything the want because this citizen can decipher between whats said and reality. Maybe that Congressman should make his way to the light and get out of la la land. You know, where us the unemployed live!
The question is really about who is putting a better spin on their point-of-view, the President who believes the average American is hurting badly, or the Republicans in Congress who argue that we can continue to wait while they bicker and posture.
To answer the question, we simply need to recognize that 1 out of every 12-15 working age Americans has lost his/her job and millions more are underemployed with cut hours, pay and benefits. Bush's plan was to shore up big banks with a trickle-down philosophy. Yet, when the money stops flowing to consumers, even as corporate officers continue to get rich, we need a more direct, even dramatic, attempt to help the real people, down here in the trenches.
We don't need President Obama to scare us. If our eyes are open, we're already scared to death.
Is President Obama exaggerating the crisis in order to get Congress to act?
Honestly,the cumulative cost of the war in Iraq, the lack of banking oversight, and the disgusting greed of financial institutions (who are suppose to be fiscally wise) has numbed me..I don't care how much we spend on programs to help our country, as long as it stays in our country. I mean, the debate raises questions about a measly amount to fund the arts? Or other "social programs"? When we have spent billions in ruinous activities? Please! Social responsibility becomes all the more glaring in the face of corruption, war and unbridled greed.
He's not exaggerating the crisis it’s just that some of those who are in the senate and supposedly "working for our better half" are so disconnected from real reality (the middle class) that they only are focused on what seems to be the circle that they socialize in. There IS a crisis when people are losing jobs, car dealerships of American made cars close, and banks where WE hard working Americans rely on our financial business lose money. We are in a real crisis especially when people are killing themselves and their children because both parents lose their jobs....that have not exaggerated a crisis it’s calling for immediate change.
Brad says "Entrepreneural Spirit???" Are you kidding me? What spirit can possibly thrive with no money in the pocket? Well, if you mean for those who are already more fortunate to have, then, I guess you're right. Unfortunately, at this time, all entrepreneurs are starving...Well..Those less fortunate.
Jack, the IMF just released a report today, indicating that several of the so called mature economies have actually painted an overly optimistic picture, because they believe that their peoples cant handle the real truth. The situation is going to get significantly worse before it gets better...so president Obama is right in telling it like it is...perhaps he should really tell every one how bad it is going to get ...could we handle it...I really dont know!
That kind of thinking is exactly why the Republicans lost the Presidental election and both Houses of Congress. Good for them.
The Republicans have given not only themselves a bad name but they have given politics, public service, integrity, clear thinking, and honesty a bad name.
Really, they represent an absence of warm hearts, good will, and rational minds in these troubled times (as if that mattered to any of them).
Thousands of Jobs are currently being lost every day. At what point do Republicans admit that the crisis is not an exageration?
DeMinte must be deMented. What is he comparing? Oranges to Apples when it comes to Bush's fear-mongering and Obama's warnings?? Bush's argument for war against Iraq was a delusion, and hundreds of thousands of lives have been lost as a result.Saddam Hussein was not a danger to the United States. There were no WMD's. Bush rushed to war without giving diplomacy or weapons inspectors a chance. In contrast, Americans see everyday that people are losing their jobs, giant finance houses falling, people losing their homes, people killing themselves because they are distraught over their financial failures. Pres. Obama is not making this up. He is calling it as it is..
If Sen. DeMint does not consider 70,000 unemployed Americans in one day dire, then he is clueless and blind. It is unfortunate that as we wait for Congress and the Senate to act, the American worker continues to suffer. If Sen. DeMint sees being jobless an exaggeration, maybe he should be voted out of his.
Talk about 'Wag the Dog!" This schizophrenic economy is no accident. In fact, it is amazingly convenient. After Obama promised the moon during his campaign, what a timely excuse for not having the money to deliver on all of his prophesies (oops, I mean promises). I keep getting all these messiahs mixed up. So does he. Will the real Messiah PLEASE come back!
You'd have to be named Chicken Little to exagerate how bad the economy is right now. I don't know that the Presidents solution is the right one but he doesn't have to tell me the sky is falling to make me think somebody needs to do something different than we've been doing. I think his worst enemies right now aren't the "don't do anythingers" or the "nothing will work but tax cuts" bunch. Pelosi and Reid are his biggest problem and he might be hoping the sky would fall on them.
Yes, that is exactly what is happening. The first bail out did not work..what makes us think this one will. Plus, more then half of the money is not going to do again for the ecomony tomorrow, next week, nor next month. Who are we kidding....wake up America. This bill is only going to make matters worst.
Corpus Christi,
Texas
It's easy for Mr. DeMint to take his sweet time considering he still has a job. Tell those who just lost their jobs this week that there's no urgency involved. Boeing, Pfizer, Home Depot even Starbucks all laying off this week alone....if he was losing HIS job then we'd see some real urgency.
Jack,
I disagree with Senator Inhofe's rather condescending standpoint on a very serious issue. President Obama is using the very same language that has been used by economic experts and members of Congress alike for months. By now, everyone knows how grave the nature of our economy is, and no one should have to sugar-coat it to make people feel less "panicked." The truth is, the priority of a decision should not be based on personal biases, but rather the necessity of the decision. Talking down to the American people will not solve any problems.
Obama, creating the crisis for political gains.... are you kidding?? If only the father of the family of five here in Los Angeles, CA who took his life and that of his wife and five kids after they both lost their jobs felt this economic situation was something created in the mind of Obama. He and his beautiful family would be alive today. Clearly, this was a personal crisis for him that he saw no way out of. At least Obama is trying to find a way out for millions being affected by what is the reality of their everyday lives being impacted by the economic crisis!
David
Los Angeles, CA
The number of unemployed, the number of foreclosed homes,
the number of business closings can not be exaggerated, We need something to happen. We voted for President Obama because we felt we needed help in restoring what the past eight years destroyed.
Republicans who followed Bush and Paulson to bail out wall street and others, should vote yes to helping those jobless, homeless voters who NOW need their help.
No!!! when one buys a 5lb bag of sugar for $1.34 last week and that same bag of sugar, in the same store, sells this week for $2.34 ...somethings wrong. Maybe the Republicans should take a walk throught the food stores .We the Ameircan people need help, not gridlock. Here's a thought, let's recall all of the the Republicans and send Democrates to Congress.
Jack,
The rest of the world is in financial crisis, look at Iceland a worst scenario. No new industry, no new products, no new new technology to create new jobs for us to recover, crisis is an understatement.
Jack, President Obama didn't lay-off 80,000 workers across the U.S. in the past two days, nor did he create the economic crisis that we are currently in, so the idea he is using Bush-like fear tactics to get this passed is ridiculous. The Republicans have no intention of bi-partisanship, especially when the leaders of the House and Senate Republicans tell every Republican member to NOT vote for this bill before hearing the President out yesterday morning. I guess we're all forgetting what the maverick of the Republican party told us three months ago, "the fundamentals of the economy are STILL strong", right? Obviously the Republicans all still feel like it is.
concering the stimulis package, Jack. One man's PORK is another man's BAR-B-QUE. Get over it.
If Obama is outside the margin of error in terms of articulating how profound the current economic crisis is, he is not unreasonably so; however, he is over-emphasizing the urgency, not so much because the crisis doens' t need to be addressed immediately, but in the sense that we've been in such a hurry to get something passed, we haven't spent sufficient time to think it through and craft a package that will actually work: Better to spend another week (or two) and get it right than go with the piece of junk that the House just passed.
Is Obama faking the amount of jobs lost? Is Obama faking the amount of credit default swaps and other dirivatives that are shaking our economy? Is he overstating the amount of contraction in spending and lack of consumer confidence? The Republicicans are 2 year olds in adult bodies... Obama is the first mature adult this nation has had in a long time...everything won't be perfect but, get out of the way and let him do his job.
With thousands of Americans losing their sources of income, I doubt President Obama is exaggerating our current economic crisis. Hopefully, the funds will be used to help the American people directly, and not be wasted on the same organizations that put us in the situation in the first place.
Keyotta, North Carolina
Jack
No i don't think Obama is exaggerating about the seriousness of the economy. Since 2008 these congressmen have been moaning and groaning about the imperfections of stimulus bills. They say they're a waste of money. Meanwhile the US economy has lost over a trillion dollars and millions of Americans are jobless. Maybe when some of these congress men staring selling apples on the street they'll get a clue.
NO, he's not exaggerating, but this bill is not the answer. Quite frankly, with all the finger pointing he did about special interest, and being quoted as saying "line by line", I am disappointed that he did not hold Congress accountable to clean that messy bill. I think the Republicans would have supported it if it had been lean and well targeted. Where's the change??? This bill is no different to the TARP with it's arrow provision! Geez. We need real help.
The republicans won't vote for main st?? No they voted with the worst president in history for a bail out of wall st and what did we get for that!!
New planes renovated offices bonuses and that's the stuff we know about. No transparency from the banks they don't need to tell us where our money is going!! All the republicans that voted for the first bail out of wall st should resign but they won't they have big business in their pockets it is quite obvious to me!! I don't think President Obama should be reaching out to them at all!! Independents are growing in number and I predict in 2012 a ticket of Lou Dobbs and Jesse Ventura!! They understand all the corruption that goes on in Washington and would put a stop to it!! Unbelievable!! If I had a million dollars every time I heard a republican or democrat say bi partisan I would be a billionaire!!
rich
How can anyone even suggest this question when it has been obvious for months? Huge stock market falls...I believe the largest ever? Huge banks begging for bailouts of our tax dollars we middle-class pay, yet no bank has made an effort to work with any of us to stay in our homes. Before my brother lost his house–where my 74 year old mother had a home–we sent a counter offer to Wells Fargo asking for past due payments, penalties and fees to be added to the backend of the note, combine the two ARM notes to a fixed rate of about 7% interest. These were fair requests and nothing new in the industry. We sent a copy to Wells Fargo's attorneys and their collections department...certified mail. They signed for the letters and never responded. My brother paid $100k for the house. The mortgage company sold it for $67k. My brother is now responsible for the difference!
Then we learn that Wells Fargo used that bailout money to absorb other banks rather than help their customers!!!
A friend's son is a manager of a hedge fund, and shortly after the first bailout, he told his mother we might want to start stockpiling food!
The President is not overstating the economic crises, but the media sure is, especially all teh TV talking heads masquerading as reporters for CC and MSNBC, etc.. In your incessant drive to fill way too may hours of TV time you beat these issues to death and over-exagerate the tiniest points in an effort to either try to make it seem like you are on to something, or to in fact, create a story. This economic crisis is no different that what you shamelessly did when teh Illinois Governor was indicted when you were trying your darndest to create a link to the President-Elect when there waqs clearly none. It is your incessant carping about and haranguing that will deepen the crises in the economy by trying to scare the electorate in an effort to fill air time.
If Senator Demint would get his head out of his you know what he wouldn't even make such a statement. Or is his head his you know what?
I do not recall the names of all the reputable economists I have heard or read but they have all said that WE are in a crisis, some say that the crisis is worse than portrayed by the president.
I do know that WE should remember the names of all the politiians and their votes on this issue. WE may be eventually unemployed, uninsured and standing in lines in food banks as time goes on, but WE still can VOTE. I will definitely do the most I can to get rid of a politician (who is paid from my taxes) who does not help alleviate the economic CRISIS that is effecting US, not THEM.
By the way, they will still get health insurance and a pension complements of the taxpayers they have supported so well over the past 8 years and got us into this mess!
Republicans have cried "wolf" so many times over the last 8-years they don't recognize it when one really is biting them. This country is on the verge of a depression, don't they get it?
PS: Have you heard, the repubs in the House and Sentate have made the blovatous fire-breahing talking head Rush Limbaugh the new chairman of the GOP...
A great many of these private banks are going to fail along with the huge sectors of the economy. Pensions are going to disappear at an even faster pace than they are now. If America were not so ideologically driven these banks would already be nationalized, sooner rather than latter. When the rubber hits the road, I believe President Obama will be demonized by the right wing who can always dispense with democracy to keep their interests safe. The tools are already in place with the "patriot act" and a multitude of other laws that will make it very easy to institute martial law and some sort of military dictatorship takes over all in the name of the "national interests" The tarp was not in the "national interest" but the interests of the few who define their own narrow interests as in the interest of the many. "What's good for GM is good for the country" Sure it is ask Ralph Nader or Karen Silkwood or Erin Bronkovich if you want an example of just how far corporate America will go to protect it's own interests. Oh btw, whenever a "third world country" faced the same situation and asked the IMF or the USA for help what were they told about restructuring their economy. We can't swollow our own medicine can we?
No - we are in an economic crises and some are still playing political games. Republicans should have been invited to help write the draft. Now it is time for them to get over it and support what needs to get done in the large (repair infrastructure and create jobs) without using small stuff (specific favorite spending) as an excuse to derail oppositions efforts to undo prior mistakes of supporting an expensive unnecessary war that helped put us in this poor economic state.
You have got to be kidding me... All people have got to do is look at all the job losses, the lack of credit, the stock market and the lack of confidence in our economy to see that President Obama doesn't have to make anything up!!!! Give me a freaking break!!!!
I do not believe President Obama is exaggerating the crisis in order to get Congress to act, it is simple, thousands of jobs are still being lost in all areas of business with no clear date as to when the many layoffs are going to stop. Drastic measures need to be taken now before it gets to out of control and government can not be of any real help anymore.
I dont think its an exergeration that millions of jobs have been lost, that millions of homes have been lost and that millions of americans are just getting by and this accusation of A popular president coming from republicans who got us in this mess in the first place? if any thing i think the republican party is exergyrating its relevance and someone would think the election result humbled them.
What a damn question, Jack. I guess for people who still have a job, for people not going to shelters for food and shelter, for the corporate hacks like AIG and Citigroup, for the pathetic-spineless Congressional reps, for the Republican Business party, they may raise such a question. For others who live in the real world, we say light a fire under your dead as _ es or get the heck out of the way so that PRESIDENT OBAMA can do the work that WE THE PEOPLE elected him to do.
Yes, President Obama has spoke publically several times about the grave situation faced by the US and world economy. No doubt, there are troubles, but he has racheted up the fear to get what he wants in congress "we have not a moment to spare". I believe there is no clear indication it will work, and has the possiblity to make things worse. Making decisions under a climate of fear will most likely lead to bad decisions.
This lunatic they call themselves republicans just don't get it. I surely don't agree with everything the democrats have propose but to say that President Obama is exagerating the seriousness of the crisis ordinarly citizens are facing just tell me that the republicans are blind and yes have not be yet visited by a wolf. You will not understand the economic crisis we face everyday unless you are also experiencing it. It is obvious that some of the republicans want Obama to fail for their own political reasons but they are forgettiing that Pres. Obama is looking out for voiceless people like myself and that we will not forget him in the next election
nc
Jack,
The economy is feeding on a downward spiral. I lost my job three weeks ago and I know many people that are worried about their job. We need a psychological lift by the Government (along with actual stimuli) to change the confidence of the American Working Population.
Every time a republican talks I throw up in my mouth a little. I know it sounds gross but seriously, do these people hear what they are saying or have they completely divorced themselves from reality? So banks getting Billions is OK, but the arts, public schools and health care and prevention are pork. Can we vote these jokers off the island already? Please?!
No Crisis–if the situaiton was not so dire, this would be funny. The unemployment rate has benn readjusted several times so direct comparisons are difficulot and very misleading. Check out the part time workers–not counted, can't find a job for x amount of time, not counted. Took a job at 20% of your last job–not counted–Unemployemnt is higher than the 30's. The republicans have no feeling for common people
No, he is not, but he is making huge mistake by playing the republicans rules. He won! They don't like this because $ doesn't go to their cronies. $700b in the last round to banks – how many jobs have been created by that? Obama negotiated and then the R's in House still voted against it. It is no longer Obama's bill, and has less chance of working, but the R's vote against it and so they don't own it. Now Obama MUST go to Senate with HIS bill and pass it. The Republicans have proven once again that they are not to be trusted.
Do what is right Obama.
I wish he was exaggerating. I am underemployed, my husband has been unemployed since July and our savings are gone. We both have college degree and have been very responsible with our finance but now we find ourselves wondering how we are going to buy groceries and pay the bills.
Seventy thousand jobs lost in one day!!! That's as real of a crisis as it gets!!
David
Los Angeles, CA
No! The Republican policies got us in this and now they're still acting childish and turning their back.
Ask DeMint about the $5.5 million the DSS employee in Aiken, SC embezzled in recent years, that they've only just now caught.
Aiken, SC
I'm caused to wonder that the Republicans have sat on their hands for most of 8 years and let thier fellow Republicans Bush/Cheney run this country in the ground. Now they want to make the new guy pay for all they allowed to go wrong.
President Obama deserves a chance. I get sick and tired of him constantly being compared to the past (key word the "past"). There is no precedent for a President Obama and he deserves a fair opportunity without Republicans using this time to redeem themselves.
If anyone thinks President Obama is running a game on the American people then they have truly missed the last two years and are definitely not in touch with what is really going on.
By the way, President Obama won the presidency by a significant number, perhaps those that voted for him should vote again to replace blue dog Democrats and Republicans if they are going to continue to try to block "change in Washington.
Note that those Republicans that say they are speaking for the American people; reallys translates to them speaking for American Republicans.
I know a lot of folks that are tired of those that are getting in the way of the Obama-Biden Administration. 2010 is not that far away and we should be watching Republican/Democrat performance very closely.
I like to see report cards for all of the legislators posted to be viewed on-line like everything else, including their names, state, the bill/law and their vote. This would most revealing.
Tell that to the 75,000, who just lost their jobs and the families that homes are being forclosed. Or tell it to the father who became so hopeless he killed his family and himself. Maybe we should tell it to the people who saved for retirement in their 401k and now have to work just to make ends meet. OH Yes, these are all exaggeration.
Jack, get a life. Every economist in the world has said the economic crisis is worse than President Obama has said. We finally have a LEADER who can listen and lead and not be a toady to his vice president and political advisors (say :"ROVE"), but, your very question suggests "politics as usual". Perhaps your question tomorrow night should be whether FDR hyped the great depression because it really wasn't that bad. Or we should not have jumped into WW II because HItler was just misunderstood.
No, the financial crisis started the day George W. Bush was sworn in as president. This crisis had 8 years to fester into a catastrophe. It was hidden by lies and deceits by the Bush White House until our creditors, primarily China, told Paulson they were going to pull the plug if something wasn't done immediately to stop or at least slow down the plunge into the abyss of national default. The first half of TARP only slowed down the plunge. Obama will have to finish the job and fast. And those Republican representative leaders had better get ready to be flushed down the toilet of history if they don't help Obama win this fight.
David E. Cozad
Arlington, TX
No, he is stating the serious nature of our financial situation in his calm manner. The situation of our economy is deep recession and some financial research is mentioning the "D" word. Depression. It would be nice to see the House and Senate retire their either Dem or Rep. points of view and get serious about solving the nation's problems. The American people deserve honest, intelligent representation and that is why we elected President Obama. We are really sick and tired of the other elected officials reducing the proposed solutions to the lowest common denominator they can agree on. Unfortunately that never results in action, only more meetings to talk more about their so called issues. We finally have an adult president and need maturity and intelligence operating in the House and Senate and working together on behalf of solving the problems they have created. Jim Demente can't really think we are going to listen to him now saying Obama is using Bush tactics. He was an advocate of Bush and we in SC haven't and won't forget where his loyalties lie. We are waiting for 2010 to respond to him and we will.
Sharon, Charleston, SC
Jack-
How could you ask such a question? If Obama is exaggerating about this, then why do I spend every day watching CNN while it spends hours on end detailing every layoff, cutback, ripoff and the likes. I know bad news sells, but I don't think there really is much good news for anyone in the media to find, let alone report on.
Ken
Bettendorf, Ia
Well Jack, let’s see if President Obama is exaggerating the economic crisis:
7.2 % unemployment = 11.1 million unemployed Americans
72,000 layoffs reported yesterday
10,000 layoffs reported today
2.3 million Americans expected to face foreclosure
Well Jack you tell me, is Obama crying wolf?
Arlene
Washington, DC
The question is how critical is it. Here is my barometer. I am a registered nurse and always believed I would have a job, of course, people would always need health care. Guess what? People can't afford health care right now and hospitals are cutting nurses hours big time and laying off. New grads can't find jobs. Our husbands are out of work and the bills are piling up on the kitchen table. The pregnant women I talk to are losing their jobs and are worried about maintaining their nutrition and shelter while they carry their babies to term. As many people are working parttime as are losing their jobs.
please tell senator Demint the financial crisis is very real and 2.6millions americans are out of job. I guess the senator still have his job!
btw theres a typo under the 'submit comment' button
"Your are subscribed to this post."
I'm sitting her eating Roman Noddles for the 3rd time this week by candlelite. But I'm not frighten by the economy. DUH
I don't think that he is exaggerating, times are terrible, however, I do think that Obama is using our economic troubles to his advantage. I mean... do we really need to spend 335 million dollars on STD prevention? Does President Obama truly think this will help save the economy? Or whoever heard of spending $21 million dollars on sod? I am so confused....wasn't he supposed to change the corruption and selfishness of government?
First of all, his name is PRESIDENT Obama...not Barack, not Obama but PRESIDENT Obama!!! Congressional Republicans followed "W" every step of the way down the path that caused this CRISIS. When Bush said jump, they jumped so big that the financial surplus Pres. Clinton left us became the CRISIS that PRESIDENT Obama inherited. This country did it the republican way for 8 years...President Obama hasn't been given the chance that he deserves to be a man of his word. Why are my brothers and sisters in arms in Iraq...Bush and the republican crew. Why are we in a financial crisis...Bush and the republican crew. As far as I'm concerned, the CEO's and Government officials responsible for the current state of the union should be prosecuted and held accountable for their misdeeds. If I were to mismanage funds at my job or use deceptive practices that caused the company to crumble, I would be arrested and criminal charges would be filed against me. Congress worked "for" Bush for 8 years...why can't they work "with" President Obama???
The crisis was created long before Obama took office. Congress republicans are making it worse every day it refuses to act. I may lose my job at the end of the month my 401 K is down over 45% fron 2007. Someone need to act and a tax cut to small business is not gone to do anything for is crisis now. A small business owner will just hold that money just like the banks did so I stand with the PresObama. If the Republicans can't stand with are Pres just go home and get out of the way. Or go get are money back from the banker on wall street. and give that money to small business onwers.
We need some action now!
They debated a 800 BILLION dollar bill in less than 2 weeks.... You're damn right they inflated the fear.
Jack, it is amazing to me how anyone could think that the situation facing our nation could be exaggerated with hundreds of thousands of people losing their jobs daily and hundreds of businesses closing their doors.
What I do feel is exaggerated is the attempt Republicans are trying to make us think that they care about the little people. After watching hours and hours of anyone Republican give reason after reason to vote against this plan, the more they look like spoiled children who can't get their way.
Clemmie
Atlanta, Georgia
How can President Obama exaggerate when people are losing their jobs every seconds. We need him to act as soon as possble to prevent the world from collapsing. I think the American people have had enough and can't stand another great depression as a result of few people's mistake.
Alozie N.
Aberdeen
Exaggerated , are you kidding ?
The severity of the world economic problem is serious. President Obama is doing what a good leader should do .
We have had 8 years of an administration that rivaled that of the White Star Line, " TITANIC ".
I do not think he is exaggerating about the condition of the economy. I feel it every day when I struggle to pay my mortgage,light and water. I am struggling to come up with money for college, and my husband cannot find a part-time to help bring in extra income. I worry about my kids because govervor Perdue has cut millions in education. I do believe he and the house needs to be held accountable for how this money is spent, not just issuing money out to pay CEO's. Shame on you AIG, shame on you. The american people need to have a say in how our money is spent.
Waiting will not create job growth. The Republicans are already stimulated byt being the opposition. I need a job or at least be able to fund my own business. The Repubs pockets are full so they don't feel the squeeze we do. I live in Mi. where jobs are hard to find or don't even exist and big banks are still giving out bonuses go figure.
Jim says: "If he really wants to stimulate the economy, why doesn’t he take the $900 billion and give every American 18 and older an equal share of the money." Sorry Jim. For those of us who are financially challenged, this would mean either using all the money to pay the mortgage and save our homes from foreclosure. Or perhaps, trying to find the cheapest health care cost for the family. Frankly, I don't see how that would stimulate the economy.
I think things are much worse, the the republicans have driven our country into the ground.
Dear Jack,
Being a plumber, I absolutely understand the old addage " One mans
waste is another man's gold." What some call wasteful spending in the stimlus package, is exactly what 11million of us need to help us to get back to work so we can start having payroll taxes taken out of our paychecks. Not everyone can work in construction. We need to keep people employed in the Arts too. When I get back to work, I will want to be entertained.
No, the crisis is severe. The Republicans are ridiculous and more need to be booted out of office. For eight long years they held the White House. For fourteen long years they held the Senate and the House and what have they done but make a monumental mess of things. How dare they now try to tell our new President what to do.
The Republicans are a disgrace and its time to vote even more of them out of office come the next election.
It is obvious that the republicans who voted against obamas stimulus package are all quite well off. They have a cushion of wealth around them and feel no urgency or compassion for the many people out here who are experiencing EXTREME financial stress. I am an artist. My income is generated by "expendable" income. 3 years ago, I was paying my mortgage, buying groceries, paying all my bills putting money into our ira all with no credit card debt. The recession began gradually. Out here, we thought it was a rough patch. We still paid our bills, but at times had to use the credit cards to make ends meet. Over the next 2 years, there was a gradual but noticeable decline. More and more credit card debt (thinking surely this would turn around soon) until at this moment we are 2 months behind on the mortgage, behind on some of the credit cards (which became 29% interest when we missed the first payment) and behind 3 months on our car payments. We have many friends who are in the same position right now. Self employed people were the first to feel it and we are in the most pain right now. I can not tell you how angry it makes me to hear the glib, self righteous statements made by the politicians who dare to engage in petty politics at a time when we are all needing them to stand up for us. They dont care. they pay their heating bills and they buy their groceries. What more should they ask for? I am thankful for Obama. I am hoping that the washington crowd gets it together SOON!
Some guy just killed himself and his family. Sure, there's no crisis.
The republicans are successfully making up to the american people for having been taken in by Bush, Paulson and Bernanke (the sky is falling syndrome) , and are doing precisely as they should, saying not only no but hell no, by standing on principle, history and what a truly immediate stimulus package should and should not contain. For a "change" – you've got it right republicans (and a handful of highly intelligent democrates)..
Seriously ! Are you really asking that !?! And are you watching your own news?
PASS THE BILL!
My next comments are going to the DeMint web site. As a SC resident – and a Republcan for many years – I am at this time – no longer affiliated with a party! We are all Americans and our fellow Americans need relief! Now! Today!
Get over party affiliation! get over it! We Americans all need your vote – Now!
jack tell your nation the truth obama is a puppet who takes instruction from those set him there he could solve the ills of america by asking the owners of the zionist run fedral reserve to give america some of the proceeds from the iraq war or any of the ones before that or you might not
Jack, the decline in the purchasing power of the middle class adjusted for inflation is well documented. Republican policies for our economy have been proven not to work. We need to address this crisis. Without a strong middle class, the dollar is weak, and there will not be a tax base to pay for juicy no-bid military contracts we so desparately need to protect us from our fears!
NO! Republicans show no pulse!
I'd still rather be American and will continiue to work harder for my family.... After doing so, my advice is invest your money into life insurance for your children because this stress is cutting 10's of years out of my life.
I have applied for emergency health coverage for me and my children and have been put off because one worker didn't give the next worker all the documents I submitted. According to my new worker.."That's not my problem. It's yours if you want coverage"
My response to her was "I'll probably see you in line next month, too"
I reminded her that I
Something has to be done. To the disadvantage of both Presidents, the 'packages' they will be given will be full of lard. These 'stimulus packages' will fail primarily because our economy has too much 'leakage' – the money going to pay for foreign goods and services that we'll never see again.
Companies like Microsoft are using this 'crisis' to implement more rapid outsourcing of our manufacturing and 'knowledge base' and importation of cheaper labor via H-1B visas and other gimicks ; layoffs here correspond to hiring cheaper labor in India, China...
Our foreign trade deficits are alarming.
It is not either the Congress or the President that will get us out of this 'crisis' – it is corporate America. It is corporate America that continues to reduce its potential customer base by putting so very many well-educated people out of work and into menial, lower-paying jobs that rarely give them either any challenge or 'free cash' to buy anything other than the basic necessities.
We can continue to 'bailout' or 'stimulate' with very little result if we also continue to outsource our manufacturing, information and technological bases.
When did we face the same economic crisis? In history cycles, it's called "Back to 1776".
No and I wish someone would call out all these Republicans especially Boehner and McConnell on the pork laden TARP they said was urgent. Republicans have already blown it, they were the party in total control that created this mess and allowed Bush to give away hundreds of millions of dollars with no plan or controls. I am so sick of the Republican party ignoring the needs of this country to push their party platform. The Republicans in the House and Senate need to get over themselves and do the peoples business. I'm not giving the Democrats a pass either. If Polosi and Reid and the rest of the Democrats don't reach across the table for bi-partisonship they need to be held accountable also. The Democrats won the elections but the people didn't give them permission to do what ever they want. We were promosed action and accountability and we will hold them to it.
Shut up, Jack. You're above this kind of "journalism".
Hi Jack,
Sooooo....5.2 BILLION dollars going to ACORN? An organization being investigated for fraud in 12 different states? How exactly is this going to help our economy? Or was this the real cost of electing O to the White House?
Mr. Demint is my senator. If he doesn't believe we are in a crisis, I invite him to visit Myrtle Beach, where the real estate market has all but collapsed and the local paper reported today that the county's unemployment rate just hit 11.5 percent, which "...surpassed the state average unemployment rate, which shot to 9.5 percent, the third-highest in the nation and the state's highest in more than 25 years, officials said...where the jobless rate was nearly 5 percentage points higher this December than in December 2007. Almost every employment sector reported job losses in South Carolina in December."
In addition the Employment Security Commission has asked the federal government for $330 million in loans to keep paying unprecedented jobless claims.
I'm afraid many of the politicians in the state don't get it, and why they keep getting re-elected is beyond disbelief, even though most of their economic policies go against the worker persons' best interests.
personally i think as a young american you have to spend money to make it and i dont understand why this is even i question of why not to pass the bill.i was a car salesman in a small town where the Avg. credit score is 550-625. It was impossible to get people financed so therefore my monthly money was cut more then half. i quit my job at the dealership because of the stress and bull we had to put up with at the banks. Even when people had a good credit score the banks would still turn it down. These big banks have bookoos of money dropped in their laps to stimulate the economy for nothing but to deck out their new offices and trips maybe if the money was watched more closely and was shipped out to car dealers and places of business that truly need the money things would turn around. also maybe if the senate and the house would have their salaries cut in half maybe they'd think about actually doing their job instead of always being in a pissing contest with one anothers party. These people are quite possibly the dumbest people in our country and they dont care if i loose my home or car because regardless they get paid no matter what is going wrong in the country. Also i think maybe we shoudl just do away with this whole "WELFARE" thing because it cost america billions of dollars to run this and for what so more lazy ass people can sit around and suck up my tax money why i go out and work and all majority of these people are doing is bringing a child into the world and have no means of supporting the kid. thats real good parenting, if you look back in time we didnt make it to where we are now by sitting on our asses and letting someone else take care of our stupid choices. Thanks IA Virginia
Come on Jack, grow up!
Give the man a chance.
What would you prefer he do, nothing?
I am one of the unemployed.
Easy for those that still get paychecks to do the armchair referee bit.
Give money to the wealthy, in these times, they will stick it in a savings account. No stimulus there.
Give the money to those who have none and they will spend it on consumer goods to feed and cloth their families.
If this bill is not passed, swiftly, there will be many more on the streets, just trying to survive. Is that what the people want? I think not!
Stop the politics and follow Obama's lead.
Do right by THE PEOPLE, It was his campaign promise and I for one am ecstatic that he is keeping that promise.
My ancestors fought for a country "by the people and for the people."
NOT for a government that coddles the corporations and wealthy. That is what the King of England was doing in 1776. Remember the Boston Tea Party?
Bad enough we pay such high taxes. But, to have the legislators take OUR money and hand it to Corporations when so many people are suffering and could use that same money to just survive, turns my stomach! Those tax dollars are OUR money and if it is "given" to anyone it should be "given" back to those who paid the taxes. Not to Corporations who used loopholes to NOT pay their fair share of the taxes.
Obama is taking the government back FOR THE PEOPLE and that is how he won, with such a landslide.
Finally, the PEOPLE talk and money can take a hike.
After all money is the root of all evil.
No, Obama is actually not telling America how dangerous the situation is. It's no longer a perilous moment. That's history..
The meltdown is no more stopable at this time than keeping the Titanic afloat after hitting the iceberg. Many passengers didn't believe there was any problem – just like now.
LW
Obama is 100% correct if not more ,the speed of job lost and de-value of goods and services around the world is your proof with no end insight !
America is bleeding and Obama wants to stop it....that's all
Monroe, NJ
Obama and Bush must know something they cannot talk to anyone about with all this urgency to put money in the system. Isn't this the biggest robbery the USA has ever had in history? The CEO's have taken off with our investment money, 401 K's, etc., and don't forget about the one's that have been caught like Madoff and the other few that have surfaced, and others who have gotten away. Makes Jessie James look like a pre-school robber. Is the monetary system failing and no one wants to admit it in higher ups? Bonuses weekly?monthly? with our last bailout money! They do not deserve any bonuses for years!
Looking at the line items this is a bunch of short term welfare items...where are the 4 million jobs that it is supposed to generate??? We are going to have a bunch of very rich politicians that are going to line their pockets with all this "free" money...who is going to provide oversight to the states and local governements that are going to spend this money by giving the projects to their cronies?? Of course Congress is going to vote for the proposal...they are going to get rich on this!!!! This sucks....
Has Jim DeMint been paying attention to what is going on with the market, housing crisis, and job loss lately or has he been living in a cave??? This is not an exaggeration like the Bush Administration to go to war and the TSRP bill. This is really going on, and if he doubts that it is real then he needs to look at his retirement account and home values as they both decrease dramatically.
your new president is going saddle us with so much debt and pork [which is not going to help our economy] that our children and grandchildren will be paying for decades. government is the problem not the answer,oh well i guess we can just be another France.Thanks a lot you crazy obamaniacs!
Do you have a better idea .... As you know Obama is open to better ideas....
Foe the last two months, those of us who manufacture durables and those who retail said goods, will substanciate that we are in crisis, economically.
As a small business owner, who has not shown a profit for years, tax breaks are of no value. You do not need them, unless you have a profit. Incentives and breaks for capital invesments, likewise, are of no value, if you do not have money to invest.
WE ARE WHERE WE ARE TODAY, BECAUSE THE SAME BONEHEADS THAT CREATED THIS MESS, STILL DO NOT GET IT!
If you really want stimulation, give each tax reporting household $5000 to $10,000 to spend as they want.
Set up a government sponsered small business lending bank, that would give small business access to capital, based on reasonable guidelines.
We need to fire all of the lawmakers who have sold us out!
Jack, Bush and the Republicans have nearly ruined the country and economy. Our nation is in intensive care. President Obama's deep integrity and sensitivity to this serious illness and his cure, though extreme is what we need and fast. Otherwise it is my sense that the Republicans virus will kill the economy and country.
I was turned off by politics for the past several years. Obama offers a thread of hope. I am afraid most politicans have thier own interests in mind, not the country. Sad indeed!
NO. Absolutely not. We have been in a crisis for a few years now. President Obama is trying to do something about it. Unlike bush and the losers that voted against the stimulus plan. they still don't get it.
Take the time to learn about the credit derivative market especially the credit default swaps. Examine the total GDP for the US and compare it to the estimated sum of the CDS contracts or even the world GDP vs the world CDS market. Then try to tell me that we're exaggerating the crisis. We're going to need a lot of smart thinking and new ideas to avoid another depression. Time the pray.
Of course he's exaggerating it. He's fear-mongering for the purposes of forcing his ideological policy initiatives through the congress and passed the public, much in the same way Bush did. The only difference is, Bush did so over national security and Obama is doing so over economic policy. Change indeed.
no i don't think so I think Obama wants to take care of business quiclkly and get this world back into shape . and a man that takes care of business like that is a man that has the nations heart , so get on the bus , thers a new sherriff in town and his name is OBAMA.
President Obama is not exaggerating the economic crisis for political gain. It is long past time for anyone to be saying that if something is not done in a week, or a month, that the economy will collapse. The crisis is here. It is upon us now. The economy has collapsed. It is in shambles. Millions of us are out of work, out of time, out of money, and out of hope. The only glimmer of light at the end of the tunnel for us is Obama and his economic recovery plan. That is all we have to give us any hope at all. Based on today's vote, the House is still divided by partisanship. We cannot count on them for meaningful dialogue or change. This is Obama's hour. He is absolutely right in what he says. This IS the "defining moment" in history. This is the time when this country either returns to prosperity and world influence, or fades into history as just another nation that was prominent for a moment in time, and then faded into history like smoke in the wind. Help must come quickly and decisively. We are out of time.
Best regards
Doug Bristol
Absurd. Jim DeMint is grasping at straws. The US is nearing depression-level unemployment rates, the fed has the interest rate near zero and tens of thousands are losing their jobs daily. It would be nearly impossible to exaggerate the disastrous economic circumstances we find ourselves in. For Republicans to act like it's anything other than that is preposterous.
Anj in CA January 28th, 2009 1:34 pm ET
The crisis was created long before Obama took office. Congress is making it worse every day it refuses to act.
I agree. For example, under the Bush 43 Administration, the United States was entered recession in December 2007 but it waited until December 2008 to release a statement.
From my perspective, he's not exaggerating–I've been out of work since May.
Come on Jack. In a week in which we have been told of the loss of thousands of jobs. who needs to exaggerate? The choice is simple: do we believe the numbers or the Republican political rhetoric? Personally I have suffered enough of both.
If Bush has told us the truth we would not be here now. It is time the American public got the truth. People are killing themselves because of the economy. I think that is pretty serious. We need to pull together now or there is not going to be anything let to salvage.
Jack,
The Senator should ask the 70,000 people that were laid off on Monday if the President is exaggerating, or all the others over the last year that can't find a job and are losing their homes.
It's easy to say someone is exaggerating when YOU have a job and a steady pay check Senator.
Hi Jack,
No he's is not.
Over many years Congress (Republicans in particular) have been pathetically inept at keeping up with the times! Lining their own pockets, governing from ideology (and their own constituencies) rather than using sensible, practical solutions that can be incorporated on a nationwide level. No one seems to have had a vested interest in the collective progress of American society anymore, just their own backyard.
The Obama spending plan is ideal and addresses the needs of the entire nation. Furthermore, congress and most of America needs to get over the worn out argument that government is 'evil' and only gets in the way. I live in a country that has a MASSIVE government and frequent spending/investment plans. What deadly socialist/communist disease do I suffer from you ask? Free health care, education (college/university included!) and a thriving business sector, especially in energy. Well it was thriving up until 8 months ago at least. Clearly, I need help from an exorcist, right?
The only crisis is the left's wild need to promote socialism in this country. If Dems wanted to help the economy they wouldn't have enacted a bill with heavy spending THAT BEGINS two years from now. By promoting a crisis, Obama is trying to shove us onto a one way street to socialism.
Dems – stop kicking President Bush, this is now your watch and you're sinking fast, and your solution of socialism will destroy the America that you hate.
I'm not sure what world Demint is living in but here in the real world where many of us including myself have seen our co workers laid off because of these hard times we know how bad things are. To Demint i say stop the politics and do your job.
No. It's funny that the same individuals that are responsible for leading us into this mess are complaining that "no one wants their input." These losers are now trying to slow President Obamas plans to quickly act on the recovery. They say we need to wait and mull this over a bit as if we have so much time in which to act. These Congressmen have their jobs but what about us? The longer we wait the more it's going to take to get out of this mess. There is a long road ahead but we can do this if we act now with good smart leadership.
People are losing their EFFING jobs and homes....there is no exaggerating the matter here....
Ask Bush and his boys....see what they say.
Of course Obama is creating this sham he calls a crisis. He and that giant constituency that elected him are doing this to make Bush and his Republican Party look bad. He secretly asked 11 plus million Americans to get them selves fired/laid-off. He then had a large percentage of these folks stop making their house payments and go into foreclosure. Then as a final sneaky blow he had millions of people dump their stock holdings. He and those millions upon millions of people world wide are conspiring to make the beloved GOP look like fools. Of course acting like neutered puppies licking the boots of a shock-jock doesn’t help the GOP cause, but that is another story.
Just drive around ANYTOWN, USA. You will find foreclosure signs and "going out of business" sales everywhere.
There is absolutely no rational reason to believe that Obama is exaggerating the crisis to get congress to act. He may be wrong about the consequences of inaction, but he has nothing to gain by crying wolf, especially this early in his administration. I can't understand this ridiculous fear that some conservatives have that Obama is trying to somehow undermine America. In judging either the left or the right, the following adage is a good rule of thumb: never assume malice when stupidity is an equally viable explanation.
I wish he were exaggerating the crisis.
Is President Obama Henny Penny? Don't look now, but the sky really is falling.
Katie M.
Hampton Falls, NH
Just as he did in his campaign, he wants to be all things to all people. He'll learn.....
Jack,
I think we should put Congressman DeMint and all other of those well-paid Peacocks on Capitol Hill in jobs that pay $10 an hour, limit their hours, and see what they whine about then. Maybe the Congressman doesn't think it is a crisis and that is manufactured, but those of us out here trying eak out a living, pay our mortgages and get back better jobs understand the problem.
Beth
Indy
History folks...you would think someone would be smart enough to look at what worked before. The so-called "stimulus" bill is nothing more than Big spending for nothing.
Why didn't the first 750 Billion go to buying up the mortgages as promised? Now the 2nd half of the TARP is going to banks as well, while the taxpayers foot the bill and get kicked out of their homes.
Obama can blame Bush for the first half, but NOT the 2nd half. THAT is on him...and we still need a trillion more? 5.2 Billion for ACORN? Is that the change your believe in? 140 Million for condems? Oh...that was a concession, taken out...how is this stimulating the economy?
In 1982 the unemployment rate in the US reached 10.1%. US population was 231.7 million. Today our unemployment rate is 7.2% and the US population is about 305.5 million.
In 1985 my husband and I bought our first house and the interst rate at the time was 12.75%.
So, no, I do not believe we are in a "crisis". President Obama is using this opportunity to pay for programs he talked aboiut on the campaign trail.
A few days ago, someone on CNN said that, since we're worse off than we were last month, last month's stimulus obviously didn't work. They just don't get it, despite the attempts by multiple economists and politicians, incl. Obama, to educate us about the dire situation–things will get worse no matter what we do. The only valid test of whether last month's stimulus worked is unfortunately difficult to assess–how much more would the situation have worsened without it. Very few people today remember the soup lines of the 1930s.
John not to be facetious, but really , if the very few Americans (probably including you John) who are not experiencing this economic downturn can view Pres Obama's words as exaggeration, I do not share this view.
I own and operate a small property management business in New Jersey and over the last 2 years I have lost 60% of my business.
Exaggerate ? NO !! Reality ? YES !!
What a a bunch of misleading hokum printed to create confusion. Didn't anyone see the layoff announcements? Do any of these suits know what it's like to LOSE A JOB?
If I understand most posters here, all you gotta decide is if the economy is in trouble. If so, you sign up for anything Obama pushes without looking to see if it actually solves the problem
NO! As a South Carolina resident, I RESENT the "I know better than you know" attitude of Sen. DeMint. It's the same attitude of our governor, Mr. Sanford, and EXACTLY why the state is bankrupt! Sen. DeMint and his cohorts in the Republican Party are only making a play for the next election. . . and doing so at the expense of so many who are suffering so much because of the greedy and power-hungry! It doesn't take a rocket scientist to understand that DeMint and his ilk are not looking globally or even to the end of their noses . . . and think that giving people $500 to $1000 is going to make them run out and buy, buy, buy. . . other than food and other such necessities of existing they won't. . . no cars, refrigerators, houses, and the like! It will go towards the rent or house payment or food or be squirreled away for future needs, but how far will $500 to $1000 go? Not as far as these "Republican Leaders" think! But then, most of them don't have to worry about such things as mere rent or house payment or food. . . They will eat out tonight!! JOBS will help those average Americans. . . and whether the JOBS are in health care, education, manufacturing, construction, retail or green technology DOES NOT MATTER TO THEM! It's a JOB! It makes one move past merely existing toward living with dignity!! Think funding for rebuilding our infrastructure is unnecessary. . . drive down the roads of Rt. 95 from North Carolina to South Carolina. . . And stop by our "Miles of Shame" and see if funding wouldn't help build a school or two that doesn't leak and has heat/air conditioning with books, desks, basic technology for the THOUSANDS of our underserved and neglected children in SC! PLUS it just may help reduce our 10% unemployment rate. . . especially since our Unemployment Benefits Program is bankrupt because the state has artificially held down Workmen's Compensation Benefits taxes . . . to, you guessed it, HELP OUT THE BUSINESSES!!!!
For Shane Eden:
1. You have no idea of what a Socialist is, do some research and learn what Socialism is so that you don't sound like an idiot.
2. There is no doubt that Barack Obama is a U.S. born citizen, that should be clear to you given that the Supreme Court flatly rejected all of the law suits filed on this matter.
If we double everyones wages for people making less than $200,000 per year then all the money stolen by graft and corruption will be worth half as much. CDS contracts account for $68,000,000 million dollars of bad debt held by the banks. That's $68,000 billion dollars, or 68 trillion dollars. The Republicans have proven the best way to rob a bank is to own one!
68,000,000,000,000
The Republicans have shown that they are still playing partisan politics. I think the stimulus package should be EXACTLY what the democrats want, if the Republicans are going to pout, let them pout!
The country wants to move in the direction the Democrats ran on, so let's do it! Universal Health Care, Tax the rich, use Gitmo for the CEO's who have raped and pillaged our ecomony. They deserve it!
POWER TO THE PEOPLE!
Will someone in congress go get are money back from AIG and give to a company that will use it to help emp people.
Our stock markets at all time lows... thousands of people losing their jobs... not only is President Obama not exaggerating, but I and I dare to say we the people are sorely disappointed in the lack of Republican support after they botched $700B of our money, that DID NOT stop foreclosures DID NOTHING to help the people directly– only lining the pockets of the greedy pigs upstairs. They have no room to say something new and different won't work; they have no room to impede our President's efforts to get our country running again. If the stubborn Repbulicans were piloting Flight 1549 they would let it crash, arguing over what's best instead of standing behind an effort to stimulate our country on multiple fronts.
The Republicans are making an ass of themselves as usual. They are still playing the same old politics. We are out here trying to make a living while they sit on their fat wallets just so they can say the Republicans wouldn't stand for the stimulus package. We are hurting out here, so it is time to do something in Washington. They need to get off their fat wallets and start handing out some help. Obama is trying and they think they are smug by not even going along with one thing in his stimulus package. It will go through with or without them and I believe it will work. Hope their wallets get thinner when its time to reelect these buffoons.......
Well what do you know, the nation is hemorrhaging jobs and lawmakers are squabbling about what size tourniquet to apply. Some things never change.
Is President Obama exaggerating the crisis in order to get Congress to act?
Probably not, however, in terms of economic impact no exaggeration is likely if the stimulus package does not work...spending is always risky esp if the federal govt has an oversight capacity...on the other hand Obama's intentions are genuine but if he fails to turn the economy around in his first term, his 2012 bid for re-election may very well be forfeit...
We hear and witness Americans losing thousands of jobs everyday,losing homes,losing pensions, losing the ability to pay the necessary utility bills and buying basic needs, how would you feel?
C'mon, is that a scare tactic? We're lucky to have a hardworking, dynamic, young, brilliant and honest leader Obama I believe destined by God to help us get uot of this massive overwhelming mess that previous arrogant administration has created
No, I don't think he is exaggerating the crisis. We are already in the crisis and the Prez is trying to solve it.
Jack the only thing that is appalling is the amount of money republicans spent on war murdering people. they always vote against America
Absolutely not. These are seriously REAL issues, for a serious time in our history that is just getting worse. Millions of us here in the REAL world are facing the problems of job loss, home loss, savings loss, etc. every day with little or no hope for the future. I lost my job 6 months ago, so I'm one of the many right in the thick of it. Any member of Congress who opposes this stimulus package – essentially a helping hand towards economic recovery – is really just showing how out of touch they are with their constituents – the people they are supposed to serve. It was ok to extend that helping hand to the banks, but not to the people? They should be ashamed of themselves and are nothing less than traitors to the American people in their time of need.
Sharon, Sparta, NJ.
Reinvesting in the american people is what we need most.
we are suffering through this global recession and take a look around , we (Americans) dont have the tools necessary to dig our way out of this open grave. First we stabilize then we invest in education and training. this is the only way to get back to the top. just think invest now in four years we have an army of skilled workers to lead our new Green industrial revolution
I don't care if he is exaggerating it or not. Just give me my check. And my condoms.
I really, really starting to absolutely dislike Republicans. After
President's Reagan-Bush Sr and now -the worst Bush Jr. we have had stealing and scandels.
Yet when Democrats try and fix the mess these Republicans left , they are over-spending???? It is bad out here. But then I guess
when you sit in a nice comfortable warm seat with guaranteed pay and health care for life, then you don't want to or need to care about the rest of us out here collapsing.
My Lord, we lost 1/2 of our life savings, have no work as I am a Recruiter and we place people in open jobs – WHAT JOBS?????
Does the unemployment rate say things are fine??
I may not agree with all that is in the Recovery Act, but I am sure some of that will change, but we need a nuclear reaction to fix this mess.
Jack, Unfortunately the sky IS falling. Obama is no Chicken Little. The World Economy is in shambles. Whatever answer Congress comes up with will not be perfect. No one seems to have a crystal ball here, but decisive action is necessary. I have voted for Republicans and Democrats, but at this point I am completely disgusted with the Republicans. I can't believe that not one Republican in the Congress voted for the stimulus package. It seems to me that the Republican leadership is content sitting on the sidelines throwing tomatoes while the rest of Congress is at least making an attempt to turn around the worse economic crisis since the Great Depression.
No the President is not "exaggerating" the economic crisis, he is acting and doing something to help average, middle and lower class people. Naturally the Republicans are against the stimulus bill as there are no huge tax cuts for millionaires and billionaires! Newsflash for the Republican leadership...You LOST the election and we don't care what you think or how you vote. You had 8 years and you blew it, so get out of the way and lead President Obama lead!
Are you suggesting President Obama is declaring an economic "code red" to frighten the American People into a lock step behind his economic plan? The only thing the American people need to do to get really terrified is to go shopping and hear their own footsteps echo against the sale signs and the glass display cases. The car dealers have taken a cue from the grocers, offering two trucks for the price of one like it was a pound of bacon. It seems obvious that the politicians as well as broadcast news writers don't shop while the idealogs are waiting under the TARP for a fight to break out. In the mean time, folks, our jobs are being lost or down-sized. Seems to me that the President is the only one who is acting like a grownup by trying to get enough people together to fix this thing.
Absolutely he is, as is Nancy Pelosi and Harry Reid and including the Bush Administration...and the media has bought into it hook, line and sinker – and only serves to exacerbate the situation by spreading fear and "exposing" corporations that are spending money on planes and renovations. Who do you think does that work? Plumbers, carpenters and electricians are employed to do the renovations, skilled workers are hired to build the planes....isn't that what we're trying to achieve? Keep people working?
Whatever happened to our "leaders" inspiring confidence, rather than dread. What ever happened to "We have nothing to fear but fear itself"? Is a return to the "Misery Index" next?
This fear-mongering serves only those who want to use it as an excuse to spend OUR money. Much of the second "bail-out" bill is just another excuse to raise the limit on the national credit card on pork barrel spending – but in this case, it includes the whole pig.
Consumers are the economic engine of this economy, not the government. The best way to stimulate the economy is to cut taxes so consumers have more to spend, and corporations have more to invest. All tolled, the two spending bills will total over 2 Trillion dollars. That is about $5,700 for every man, woman and child in the USA – I am sure a family of four can use and spend an extra $22,800, and we can spend these funds much more wisely than our government ever could – just they can not control it...and therein lies the problem.
This bill is being pushed through congress before everyone can learn all the dirty little details and voice their opposition.
This is nothing short of an egregious abuse of government power, bordering on financial tyranny.
Obama isnt exaggerating anything have you not looked outside speaking to the republican party. we had 200 or more people at a job fair for 15 positions, and at another job fair over 1000 people for 35 jobs what are the odds in that case? over exaggerating heck no! The republican party doesnt want to stand by Obama cause they dont want him to succeed cause they want to retake office and if Obama fails on this bill then they can moderate and say told you so well America is falling by the waist side if you had a better idea Republicans why wasnt it introduced during the campaign? apparently you dont you want more tax cuts less spending well guess what who has a job? who is getting your tax cuts? and Obama reached his hand across the aisle you didnt reach back!
Absolutely not! We've had to bail out these filthy banks to prevent a financial and economic fallout. Unemployment is soaring, thousands are being laid off, homes are foreclosing, and this crisis is being felt on a global basis. This crisis is being compared to the Great Depression. There is no exageration here. By the way, a man in Southern Calif. just killed himself and his family of five because he and his wife just lost their jobs. He is the fifth man in Southern Calif. to do so. (Eyewitness News)
If the bill works the republicans wont be able to take any credit for it yet they are responsible for the mess that made this bill necessary. As my 93 year old mother said the modern republican party is more republican than American. On monday the corporations announced at least 70,000 lay-offs –since then Starbucks, Boeing and others have announced–anyone laidoff who votes republican in 2010 or 12 is an idiot.
Exaggering? You've got to be kidding! We've got almost 16% unemployment in our city and people are waiting for weeks for their unemployment. Houses are slipping into foreclosure, people are behind on their bills and more and more businesses are closing their doors and laying off hundreds everyday ... and moObama is exaggering? These Republicans are so out of touch that it's not even funny! It's tough out here for the taxpayers - and they're saying Obama is creating this crisis? Who caused it in the first place - the Republican administration. Please! Kathy from Indiana
Are you kidding? I guess you have yet to hear about today's Boeing layoff announcement. Talk about "Yikes!"
And seriously, you don't think Bush would do the same thing at this moment? Screw politics, we need to take action and save the country!
Jack...are you a Republican to ask this question? Let me think, they oversaw the last 8 years of a disaster. People are loses jobs, homes and hope. The same Republicans that voted for Bushy don't want a Black man to succeed, i.e. Rush Limbaugh.
Republicans are showing the American people it is not about us, but them!
I especially loved how racist Boehner told them to vote NO before seeing......sad, sad.
President Obama is not exaggerating the problem, but the economic situtation has given a lot of politicians and opporunity to pile on all sorts of spending programs that they have wanted to pass. The Republicans are correct that there is not enough stimulus-related spending because it has been watered down by Congress and, perhaps, some of Obama's people. Pelosi is probably gotten her fingers in it all, and the Obama people are probably overwhelmed at the changes that have been made.
If our politicians do not treat the current crisis seriously, then the next time 2,000,000 people show in DC it will not be peaceful!
No, Obama is being honest and up front about the reality that we have to deal with.
No, This he is not over doing it here. The problem is bad and it has been building for a long, long time.
However, I feel the House Dems stabbed him in the back putting forth a package with alot of waste. The Bank bail out was a waste and so too was the auto. This potentially was about building America and pulling the economy up, not simply flushing dollars down the toilet. There is no reason to award failure and this package had a chance to be different but Pelosi blew the opportunity.
No, the President isn't exaggerating this crisis. The republicans are going through withdrawal because they aren't in charge anymore. I believe in President Obama and I believe he has America's best interest at heart. I find it odd that republicans wouldn't admit that Bush used scare tactics while while they were reaping the rewards of his shady administration. But, now that their WHITE knight has rode off into the sunset, their "strong-arming" days are over and they know that President Obama is actually qualified to be President, unlike "W".
Over state the crisis. The sheep fall in line and then take a giant step towards socialism. What a opportunity.
Are you hallucinating Jack. No, Obama is not exaggerating (the situation we are facing is probably much worse than we can acknowledge).
Thank the heavens we may finally have a leader who will lead!
Jack:
I called my congressional representatives to vote against the original bailout plan proposed by a republican administration and will do so again under a democratic administration. The core problem with both plans is that they simply dole out money without focusing on the real estate and credit issues which are at the core of the problem. If you want a real stimulus plan to work immediately, put money back in the hands of those who create jobs in the first place -the american people – not government institutions. Then it will be time to recognize that the democrats won and are in control and they are entitled to spend in support of their social programs. BUT NOT UNTIL WE SOLVE THE IMMEDIATE CRISIS
Exaggerate? Why don't you try asking that to the hundreds of thousands who are now unemployed. It was just on the news today that a family of 7 killed themselves because of this economic mess! If that in itself isn't exaggeration, then I truly don't know what is! That act in itself is telling us that this economic recession is starting to spiral for the severe, and action needs to be done ASAP. I don't understand why Republicans are trying to put a delay on things, what more is there to be talked out? Analyzed? Interpreted? The facts and statistics are already out there and happening for them, and most of all REALITY is happening! Seriously, can anybody tell me what more there needs to be looked at? What more needs to be put on hold?
Jack,
it is amazing how we think schools are only local and state's businesses. How come we cannot get to understand that kids from every State deserve quality and equality in their school environment! It is of national interest and pride! You learn more when living in a descent environment! This is what the recovery plan also offers!
Jack,
These blogs continue to reinforce my faith in America's ignorance. We have been told that Republicans are better keeps of America's security and that Democrats are better keepers of America's economy. So what a coincidence. During Bush's second campaign for the presidency, we were told to fear our intercontinental neighbors. And guess what, he won. When Obama campaigned, we were told fear losing our homes, etc. And guess what, Obama won. Both campaigns used the same fear tactics, only different subject matter. Where is the change. Wake up!!!
no theirs no crisis at all man kills his family cause he lost his job, unemployment is outrageous, and a man died in his home cause he didnt have the means to pay his light bill.
ahhhhhhh no crisis here at all! Re-snublicans: my advice get on board when a man reaches his hand out to shake your and you ignore to acknowledge him that is a sign on disrespect. Twice you guys had an opportunity to come up with something better than tax cuts we know your principals and they havent cut it.
Obama is trying to fight a stubborn Congress who didn't understand that Obama actually meant what he said during his campaign. We need action unfortunately Congress is about politics and not about action
My 401K is down 57%, my home value down 40%, unemployment sky high and I have been out for a year. I call that a crisis!!
Someone has to exaggerate the crisis! It has been sorely under-exaggerated for far too long. I'm so tired of the Republicans saying how the plan won't stimulate the economy and create jobs. They ask why there needs to be money spent on education on STD's and the arts. I am an employee of the arts as a musician and teacher. I teach in a very low income inner city school that most Republicans would have no idea of what that entails. These kids need real life education such as the very real diseases that they deal with constantly. So, Jack, what they are saying by voting no on the bill is that my work in the arts and the kids that I work with are not good enough for them. I hope the exaggeration will get something done for everyone else for once.
DeMint should tell the unemployed that Obama is using scare tactics. I would like to know what there plan is. The Republicans already tried to give tax breaks to businesses to hire more employees but that didn't work. They took the tax break and starting laying off workers. The problem that the Republicans seem to overlook is that people are unemployed trying to make payments on their houses and take care of their families and are frustrated about the lack of jobs out there. Don't know if the stimulus package will work but you got to try to do something. This economy doesn't look like it's going to come back by itself. I think DeMint should be unemployed and than he would find out how it is to live with out a job.
Exaggerating? Have these congressmen heard how many jobs are being lost each week? How much groceries are going up in price? How much home values are falling? WHAT ARE THEY THINKING? Maybe they are burying their heads in the sand because they are the ones who helped Bush and got us into this mess!
The Republicans have no new ideas for America, and made a decision today to act in partisan lockstep. Ultimately, they feel that their only political hope is that Obama - and America - will fail.
If America fails, they'll say "I told you so..." and if America succeeds, they'll claim that their "plan" for fixing the economy - more of the same old Bush-era tax cuts for the wealthy - would've brought the economy back quicker, without as much of the pain that everyone knows is still to come.
WHAT? Have you left your comfy chair and actually look out the window? Some 70,000 jobs were lost THIS WEEK! And if you don't have a job, you are not finding one, there is nothing out there. So forgive me if I say NO, ARE YOU INSANE?? At the idea of President Obama exaggerating about the state of the economy
It's hard to believe that someone is so far removed from ordinary people that they question the economic crisis that this country is in. Just read the news, everyday there are stories of people and families suiciding, elderly people freezing to death in their own homes because they couldn't pay their utility bills. Unnecessary violence and more crooks and con men looking for victims than you can shake a stick at. There are many victims in this economic crises, just take a look.
Mr. DeMint, take a walk through the neighborhoods and talk to the people that you represent, , and after you do that, , roll up your sleeves and get in there , and for the love of God, , , try to help! Shame on you!
Mission Viejo, Ca
Are you kidding me' look' the bottom line is very simple.No matter what your core convictions are' this economy is in the pits and it was easy to get us in this mess and its going to be hard to get out of this mess but someone has to do it and it has to be our leader.whether you agree or not we can't sit and debate but act! anything is better than what we have seen from the past and that's NOTHING AT ALL' change is hard but has to come' sorry REPUBS'
the repug leadership has been screaming about anything Democratic for years. why should they stop now. What bothers me most is that few if any Democrats ever get a chance to answer these charges. The media keeps putting the mikes in front of the people who got us into this mess.
The responses to the questin certainly are interesting but hardly address the question. The question was about whether the president is exaggerating the crisis, not about who created it. And yes, he may be exaggerating it. I certainly don't know. Who does? Most economists didn't see the severity of it coming. Why should I now believe economists, much less politicians, when they say we have to immediately put the country into even worse debt to fix it? And that the fix will work?
Give Tax credits & Rebates to all retirees or put a few Billion into social secruity to make it solvent. & give those recipients a real cost of living raise. Give those who don't pay any taxes a rebate so they can buy lottery tickets. Heck some will even win some money & they will spend that too & this will help spur the economy.
I wish we could recall congress and give opportunities to new blood. The politicians in washington are seasoned liars who are clueless to the plight of the people. It's high time to impose term limits and send these guys packing.
Bad debt got us here creating more doesn't work this shouldn't be that hard to figure out.
No. Our President demonstrating how to transform our nation without denial of the facts with which we are dealing. How people are reacting, to the "change" he is ushering in, is merely theatre. News would be useful if it would learn how to fill the "air" with more facts and less opinion.
If you loss your job and can't pay all your bills and your house is heading for foreclosure do you think tha Mr. Obama is exaggerating the crisis?
After the foreclosure crisis the next will be the credit card crisis if the government doesn't do anything about it. to create real job opportunities.
Yes, he is exaggerating. The crisis is being use as cover so the democrats can rush through dozens of pet pork projects that they have had on the shelf for years. The pork will create few jobs and those that are created will be at a terrible cost. It is estimated by the CBO that each job created will cost the taxpayer over $200,000. However, the job will not pay the worker anything near that amount. Pork projects are expensive.
I do not think President Obama is exageraring. The crisis exists and the prove of it is the thousands of people that have lots their jobs, and the stress many families are living in the United States of America and around the world. On Monday a couple in California committed suicide because of no job and 5 children to feed. I wish the best to all of us.
obama ,dont have to overstate the problem,we all know the problem is serious and created by the republicans greed,and inattention to government. the republicans think that goverment is a failure,well in their hands it is....
As a Canadian I cannot believe the Republicans pompous attitude to the stimulus package. They will never relate to everyday working people. Money to improve infracstructure and schools will require carpenters, electricians, computer techs. It will cover a range of blue collar workers and give them jobs that were not there before and improve the shameful condition that a lot schools are in.
why ask jimmy carter anything.is he not the man that pushed to give our social security to foreighners? all i can say is,at the next election when you are living in a box under the interstate get out and vote and remember who put you there. do we need to give money to the arts so the rich can go to the ballet,or help to the americans that are loosing everything? oh thats a word we dont hear often AMERICAN
the big 3 auto makers are failing putting millions in peril of losing their jobs. what does obama do? decide they need to reach new mileage standards by 2011. that's got to help. make them spend money they don't have to come up with these changes. oh sure, they can use solar power or other green ideas. wake up people. closing gitmo is a farce to placate losers. wait til the jihadis have to go to real jail. that's where the real torture will take place. all those who screamed to close gitmo so the jihadis get some rights didn't do them any favors. hope they enjoy showering with general population.
After listening to the UN Secretary speak about the global financial crisis and their involvement, I would shun the thought that America's financial system lies within the UN. It might be something like this–all the monies from all the countries being distributed and controled by the UN.
At this point, I would hope and pray the stimulus package works–because our very life and future of America depends upon its success.
Exaggerate? I believe President Obama has been careful not to exaggerate lest the people are led to fear more than they already do. The Republicans proved they know one thing about economics, how to create a disaster.
Dear Jack,
Yep, exaggerating his rear end off that hundreds of thousands of real people have lost their jobs. Exaggerting that people have lost their homes. That the housing market isn't a sellers' market, or a buyers' market, but no market at all. Just exaggerating away that the bridges and levees that have already failed did in fact do so. It's hard to do, this exaggerating that something hit us up side the head, right where the Mount Everest sized hicky stands, but here he is, making things seem worse than they really are.
This ties in perfectly with the recent question about bipartisianship which is moot since there is no fundamental difference between the two parties. With regard to exaggerating the financiial crisis, the new administration is no different than the previous or the ones before it. Senator Demint was correct to point this out. Fearmongering is their modus operandi. This is the method they resort to to shepherd the masses into panicked support for their ill-advised schemes that drain our wealth and subvert our liberties. With the Republicans, it was the War on Terror, the War on Drugs and most recently the TARP bailout. With the Democrats, it will be the false flags of the economy, the environment and healthcare. Americans need to wake up and take back our country from the elite class of professional politicians who care nothing about its citizens and only wish to preserve their own power under the auspices of the warfare/welfare big government state.
We the American People elected President Obama, my reason, because in the past 8 years I have been, "worried for my family, my country, my son and the son's of many in the military." Worried because there was no one driving!!
When Bush did drive he drove with scare tactics, he was able to get an $800,000,000 bill passed to bail out Banks, and put no one in charge of where OUR money went, with the FEAR of the entire world economy would collaspe, THAT'S EXAGGERATING!
President Obama, Exaggerating, I DON'T think so! WE NEED HELP OUT HERE!! I think someone is finally listening, President Obama has done more for the People in 8 days than Bush did in his entire last term! This package seems to cover all of the areas that need the most attention first.
This is a critical time and all Americans need to hold each of their Congressmen and women's feet to the fire to work with OUR President. NO REPUBLICIAN voting for this package?? I am ashamed of all of you!! This is not about "parties" this is about YOUR people and we are in trouble!
Hell No! The Republicans put us here with their corrupt mentality, egotistical, Self Centered Attitude. They act like we live on an Island and no one exist except USA. They passed Billions to help corrupt corporate leaders and here Obama is trying to help the lower, middle and upper middle class and the Republicans are giving him no support. Republicans pass Pork Barrel bills all the time. Now we have a president who cares about all the people and not the pork barrel corporate CEO's and the Republicans are giving him hell! What's up with that!!!!
Hell No!!! Obama is not making this crisis up!!!
The question you raise implies that President Obama is being less than honest. The question implies he has information that tells him that the crisis is smaller but he is choosing to say that it is much much bigger to get Congress to act. That is he crying "wolf" just to scare us into accepting his plans more or less in tact.
President Obama has promised to be "transparent" and provide full information which guide his decisions. His credibility is more important to him than playing the "usual games"
Could he be wrong re the size of the crisis? Yes he could be.
His promise of open government will allow up to assess if he was wrong during a postmortem, but now is not the time to play with the dial on getting the exact place on the dial that will be enough to fix this problem that is bigger than anything anyone alive has ever see... bigger than anything documented in history.
NO!
Four (4) of my neighbors were employeed last month, now they are not.
Dire.
Bailing the banks without forcing direct lending of the TARP money is the biggest mistake the gov't made. Nice subsidy for the banks. Little help to everyone else. Without the bailout, banks might want to remember their general business model that they make money by lending to people. Banks seemed to do OK when they had good loan underwriting practice. Time to do a 'reboot' of the banking industry - but let them do it with the money of their depositors and loan holders.
Obama is not exaggerating. Supply siders believe that the way
you create jobs is to put money in the hands of the business and
capitalists. Problem: business will only create products and services
if they can sell them. They do not make products to store in inventory.
We have spent 20 years putting money in at the top while jobs
decreased.
Supply equals demand. If you don't have demand government has
to step in to help create demand. Otherwise the economy goes into
a death spiral where businesses contract and lay off workers which
lessens demand etc.etc.
I am a professor of economic development