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Obama Offers Highlights of His Economic Stimulus Plan

By Michael D. Shear
President-elect Barack Obama today proposed an economic recovery act that spends billions of dollars to make public buildings energy-efficient, to rebuild the nation's crumbling highways, to renovate aging school buildings, to extend high-speed Internet to underserved areas and to modernize hospitals.

Obama's plan, announced in the weekly Democratic radio address and online video, came with no price tag and few details.

Nevertheless, it was the first glimpse of the government spending spree that Obama envisions to lift the country out of an economic recession that has already cost millions of jobs -- 533,000 of them in November alone.

Obama said the country needs to act quickly because of the "rising unease and frustration that so many of you are feeling during this holiday season."

"Yesterday, we received another painful reminder of the serious economic challenge our country is facing when we learned that 533,000 jobs were lost in November alone, the single worst month of job loss in over three decades," he said. "That puts the total number of jobs lost in this recession at nearly 2 million."

In response, Obama said he will push Congress to enact legislation that he said would "help save or create" 2.5 million jobs, "while rebuilding our infrastructure, improving our schools, reducing our dependence on oil, and saving billions of dollars."

The plan, as outlined by Obama, includes:

-- A "massive effort" to make federal buildings energy-efficient by replacing aging heating systems and installing efficient light bulbs. Obama said the effort would save taxpayers "billions of dollars each year" and put people back to work.

-- The largest investment in roads and bridges "since the creation of the federal highway system in the 1950s." Responding to concerns that new transportation money might be caught up in red tape at the state level, Obama said states must quickly invest in road and bridge construction and repair -- or lose the federal dollars.

-- The "most sweeping" program to upgrade and rehabilitate the nation's schools by repairing buildings, installing energy-efficient systems and buying new computers for the classrooms. The idea, he said, is to create "21st-century schools."

-- A new push to extend broadband Internet into places of the country that still lacks high-speed connections. Calling it "unacceptable" that the United States ranks only 15th globally in high-speed adoption, Obama said that "every child should have the chance to get online."

-- And a plan to modernize hospitals and medical offices by making sure they are using "cutting edge technology" and electronic medical records. He said that would "cut red tape, prevent medical mistakes and help save billions of dollars each year."

The plan would amount to the largest infusion of federal money ever into the American economy, and is certain to generate objections from conservatives who worry that it will not be spent wisely.

Anticipating that criticism, Obama said that the economic recovery act will "measure progress by the reforms we make and the results we achieve."

Obama did not say how much any of those proposals will cost. In recent days, the president-elect has declined to put a number to his plan, saying his advisers are working together and with members of Congress to determine how much is needed.

In a news conference last month introducing his economic advisers, Obama said, "I'm not going to discuss numbers right now, because I think it's important for my economic team to come back with a recommendation."

But, he added, "We are going to do what's required to jolt this -- this economy back -- back into shape."

Many members of Congress have speculated that the spending package could reach $500 billion or more, while some economists have predicted the government might spend as much as $1 trillion to restart the job-producing economic activity that has withered in the last year.

In his radio address, Obama said the recession raises serious questions in the minds of many people.

"Will you be able to put your kids through college? Will you be able to afford health care? Will you be able to retire with dignity and security? Will your job or your husband's job or your daughter's job be the next one cut?"

But he also expressed optimism that the economy will recover, as long as the government provides some help.

"We have faced difficult times before, times when our economic destiny seemed to be slipping out of our hands," he said. "And at each moment, we have risen to meet the challenge, as one people united by a sense of common purpose. And I know that Americans can rise to the moment once again."

By Post Editor  |  December 6, 2008; 6:00 AM ET
Categories:  Economy , Hard Times  
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Comments

EXCUSE ME OOYAH32, BUT YOU ARE NOT GOD! I BOW DOWN TO NOT ONE BUT GOD!
Enough already. lets give the presedent m elect a chance before you get negative. where is your optisism?

Posted by: imkatt2 | December 8, 2008 4:54 PM | Report abuse

I would also drill like crazy. Drill off shore and drill in ANWAR. Drill in the shale oil fields. Drill in America wherever we can. That would get us off the forign oil and gas while we worked on something differnt.

The Barnett shale in Texas has tons upon tons of natural gass, more than in most of the Middle east. Enough to power electric plants for many, many years. Use this while perfecting Solar power generation. Use the wind, use the tide, use it all .... but use the sorces that work right now so that we do not freeze and boil and starve the poor and middle class while perfecting solar and wind and wave generation.

Nuclear power works right now. I would use more of that. I would combine nuclear power plants with ethenol production. Send a loop through the nuclear power plant specificly to run the ethenol still. That would solve the problem of using more fuel to make the ethenol that it's worth. You get electricity from the nuclear plant ... and you run the ethenol still off the nuclear power plant also. Use the same heat twice.

Posted by: markandbeth | December 7, 2008 4:56 PM | Report abuse

Ok ecox, my plan would be to first and formost lower taxes on business drasticlly right off the bat. That alone will create more wealth and create more jobs than any stimulus package from the government.

In housing, I would desolve Fannie Mae and Freddie Mac. They were created to minipulate the housing market so more people who could not afford to buy a home, could get a loan to buy a home. That sounds noble and good but the end result was a crash of the housing market, banking and then almost everything else followed that crash. Fannie and Freddie HAVE TO go. (I would fire Barny Frank and Chris Dodd if I could.. but I cant ... that is up to the people of Mass and CT.)

Then I would lower everyones income tax, rich to middle class (the poor do not pay taxes... the tax cut for 95% of Americans is a myth. ... a lie .... only 40% of Americans acutlly pay federal income tax so the Math is way wrong ...

Lower business tax means more jobs, more paychecks.
Lower personel income tax means you keep more of what you earn.
Killing Fannie and Freddie removes the machine that caused all the bad loans.
All that equals more freedome, more money in We the People's pocket .... and in the long run more money taken into the government coffers through sales and growth.

That's what I would do.

Posted by: markandbeth | December 7, 2008 3:26 PM | Report abuse

Whew!!! My perception is there are some Republican 'SORE LOSERS' in this discussion.

Believe me, the damage from 8 years of The Shrub will take at least a generation to heal.

I am a senior citizen. The Bush Administration is the cause of the complete lack of belief in a Republican American voter. After all, he did not get to 1600 Pennsylvania without some very uninformed voters.

Posted by: wilkestraphill | December 7, 2008 9:04 AM | Report abuse

All you Obama haters(you know who you are) please set forth your grand plans for getting this country back on track. If you have no such plans STFU and go away.

Posted by: ecox1 | December 7, 2008 3:58 AM | Report abuse

YIKES! Sure looks like Barack Hussein Obama
is getting real desperate to dream up somekind of harebrain scheme to screw up the economy even worse then ever if all the
Great Big Mouth Liar Presidential Trainee
Obama can come up here,is somekind of a
warmed over FDR New Deal Glorified WPA and
CCC Low Pay Jobs Deal when we need a Hell of a lot more better paying high tech and
a broad range of jobs not just crappy Obama
make work jobs that all the Illegal Aliens
will grab up and steal even these from our
own American workers.

And,plus the fact the Great Messiah Obama
can't even count as his stupid 2.5 Million
WPA and CCC jobs are not even a drop in the
bucket,since we just lost 533,000 in November 2008 thanks to big business,big
retail and big construction having no damn
confidence in these phony screwball Obama
ideas that will do nothing,I repeat nothing,NADA to end the coming 2009 Obama
Great Depression as well. Impeach Obama in
2010 after the Republicans take back control of Congress. Obama is Damn Fraud!

Posted by: Ralphinphnx | December 7, 2008 1:25 AM | Report abuse

For energy conservation as well as infrastructure development, the enhancement of rail passenger service, both in terms of more routes and increased frequency, should be pursued. Incentives for companies such as Greyhound and Trailways to re-establish rural feeder bus routes should also be considered.

Posted by: gran1944 | December 6, 2008 10:21 PM | Report abuse

[Quote by markandbeth 6DEC08 1316PM] All this is going to be paid for by you and I. The government is not paying for a dime of it because the government HAS NO MONEY OF ITS OWN. The government does not create wealth ... it takes it ... and waste it ... always and forever ... especially under liberal management. (I include President Bush under the label of liberal management.).

If this is how President Obama is going to lead right straight out of the box, he will lose the house and senate in 2 years. Then some form of sanity can take back over... gridlock for 2 to 6 more years after that with not much being done at all ... and America will start growing again on its own. [End Quote]

~~~~~~~~~~~~~~~~
If history continues to repeat itself, then that’s exactly what will happen. Just like 1994, when Clinton lost the Democrat controlled House and Senate in sweeping defeats after he attempted to break loose with a Socialist domestic agenda. He was essentially a lame duck president for six years; the last four only because [My Turn] Bob Dole didn’t set well with the Republican base in ‘98.

Its almost guaranteed that Obama will also cave under pressure … though not that much pressure will be needed … to try to impose the so-called Fairness Doctrine which is a clear violation of the 1st Amendment guarantee of free speech, reinstitute the ban on semi-automatic rifles and government sponsored law suits against weapons manufacturers, which was a clear violation of the 2nd Amendment, attempt to do away with capital crimes for child molesters … which he already supported after the recent court decision, attempt to reinstitute the Death Tax, which he said he would do, cave in to conservation groups who don’t want to drill in ANWAR, and finally, his refusal to mandate a minimum of forty new nuclear reactors for power generation. To say nothing of Obama's blind compliance with the lopsided wishes of the United Nations on trade and pollution standards, and his announced willingness to seek concessions from terrorist organizations.

Yeah, the 2010 Congressional Elections will be really hard on the Democrats. Obama will get steamrolled by Reid and Pelosi at a cost to all of them.

Posted by: palmettonajjar | December 6, 2008 8:56 PM | Report abuse

sherrykay2008 - Calm down. The nurse will be in shortly with your meds.

Posted by: CynthiaD1 | December 6, 2008 8:34 PM | Report abuse

I find it hard to understand the critics of this programme. In terms of peace alone, Mr Obama's top objective, unless he and his Party intend to destroy completely the US dollar and economy, the trillions diverted to the numerous undertakings will make it impossible for the United States to continue its "Bombs & Bullets Approach" toward the Muslim World & Oil Producers and, also, to employ "surrogates" to this end. For sure, the President-Elect should be lauded, not denigrated.

Posted by: HassanAliAl-Hadoodi | December 6, 2008 8:00 PM | Report abuse

So,after we had the Great Decider George W
Bush going to "unite us" now we get the "Great Destroyer" Messiah Barack Obama
and who seems out to Destroy what little is
left to destroy after Bush got done with it...Since Barack Hussein Obama must have
flunked math even worse then Bush since I
have news for you here Bracky Whacky Obama
that there a Hell of a lot more currently
unemployed Americans then your pathetic
lousy stinky little phony 2.5 Million New
Warmed Over FDR WPA and CCC low paying jobs
you braindead loser Obama are calling for
stupid...Wake up people this fraud from
Chicago Barack Hussein Obama is even more
totally clueless then Clueless George W Bush on how to deal with His Own Obama Great Depression of 2009 as his idiot pals
Mad Madame Speaker Nancy Pelosi and Crazy
Harry Reid are also Clueless by will sure
throw away our tax dollars on wasteful Big
Labor Unions like UAW and the big three auto makers and Pelosi's AIG pals. Pathetic
answers from Mr "Change You Can Believe In"
Obama that will not help end The Great Obama and Pelosi Depression of 2009.

Posted by: sherrykay2008 | December 6, 2008 7:19 PM | Report abuse

I have read every single post on here and I have to say "what a bunch of pessimists" We just spent 8 years tolerating a president who did very little good for this country,so why not give Obama a chance to work things out.Look at it this way..if he messes up, we'll probably have Sarah Palin for potus in 2012, that should give us legitimate reasons to complain...She will trash the constitution with her religious insanity,and we will be no more!

Posted by: puredemo | December 6, 2008 7:00 PM | Report abuse

For sophia,

"GW Bush deregulated business and finance and still the economy is collapsing."

Read your history: The Glass-Steagall act was repealed in 1999 by a bill introduced by Phil Gramm (a Republican), lobbied for by economic "genius" Alan Greenspan (a opportunist) and signed into law by President Bill Clinton (a Democrat). Our current economic situation is the result of bipartisan politics, and both sides of the aisle have a share of the blame. Bush certainly made some deplorable decisions during his tenure, but he alone is not to blame for our current economic situation.

Posted by: EddietheInfidel | December 6, 2008 6:37 PM | Report abuse

OK, why is he encouraging the use of the CAR?

All we democrats can build are roads and bridges? Why not build high speed rail? Why not get rid of cars all together? Why not get rid of airplanes?

Build infrasturcture, but lets make it high speed rail!

Posted by: kl305 | December 6, 2008 6:11 PM | Report abuse

I want to be President Obama Secretary of Sustainability and Long Term Planning
The Secretary of Sustainability serves as a close advisor to the President, due to the urgency and complexity of the issue of sustainability. S/he is responsible for advising the President (and recommending to Congress)on laws to pass in order to promote and maintain a permanent and comprehensive plan for developing socially just and sustainable practices in the U.S. S/he is also in charge of the the smooth running of the Department of Sustainability, which works on a wide range of activities that contribute to building permanent healthy living systems for all who reside in this country. S/he is responsible for gathering, developing and disseminating data (at the regional, state and local level) on successful, socially just actions for business, consumer and government decision-making, helping the United States move rapidly to sustainable practice.
Type of Appointment/Position: Presidential with Senate confirmation
Countries that have sustainability secretaries at the highest level of government
• Australia
• Canada
• Germany (has a state committee for sustainability)
• France (has a minister who has sustainability under its prevue)
• China
• Japan (has an environmental minister kind of like the EPA, Agriculture, Energy, plus for the US)
• Ireland (not only has one but also has a single vision for the country)
Here are the People that I would put on the country’s first sustainability advisory committee that would bring the best long term minds to bear on where is the US going and where should we be.
• William McDonough
• Judy Wicks
• Bill McKibben
• Amory Lovins
• Al Gore
I have the will to work in this capacity that will outshine anyone who is looking for another notch on their belt. I have the understanding that I do not know everything and that pulling on the collective knowledge of US experts will be the only way to build a comprehensive plan that every state and citizen can buy into and start to live by. I have the mindset of change that has been forged by watching US leadership’s apathy over the last 2 decades.
I want to be President Obama Secretary of Sustainability and Long Term Planning
http://www.linkedin.com/myprofile?locale=en_US&report%2Esuccess=-vVpM-koAJi3iOI2oXfnNmuRG-VK4Hl523eSJntqGv034HlbHze1Jn01KG8I3zk5

Posted by: sustainabilitysecretary | December 6, 2008 5:40 PM | Report abuse

This man is brilliant. It brings tears to my eyes as I listen to him and realize what a turd we have had as president for the last 8 years.

http://change.gov/newsroom/entry/the_key_parts_of_the_jobs_plan/

Posted by: GeorgHerbet | December 6, 2008 4:53 PM | Report abuse

Even though there are tremendous benefits to be gained by 1) having hospitals systems computerized the current vendors (like Epic) 2) actually discourage hospitals from talking to one another (Stanford, Palo Alto Medical Group and Kaiser have the same vendor but can't share patient data because they want to "own" the patients 3) Most hospitals have lab and radiology systems that don't even talk to one another in-house.

Europe DOESN"T have electronic medical records in their hospitals or doctors office but are able to provide care that is higher quality at 1/3 to 1/2 the cost.

Large vendors (Epic, Cerner, McKesson) are going to be the biggest beneficiaries of this program (to the tune of billions of dollars) but none of them make applications for small doctor's offices and there is very little evidence that in those settings (whee 80% practice) there is any benefit to the practice.

People think that if you give consumers medical information they will manage their health better but we already know from the financial sector that simply having an electronic banking system doesn't encourage anyone to make more informed decisions.

We need to bring health care online but this has the real potential of being one of the largest failures ever if we don't first invest in paying primary care doctor's more money for using email, coordinating care and making sure that patients and their providers are at the center of this. (not hospitlas and computer vendors)

In fact even in the same hospital it is difficult to get the systems to talk to one another.

Posted by: Health_Advocate | December 6, 2008 4:26 PM | Report abuse

E-Verify needs to be mandate so that none of these 2.5 million jobs go to illegals!!

There are well over 10 million unemployed American workers.

In the meantime, there are 8.7 million illegals, that have illegally obtained jobs; jobs that rightfully belong to Americans, by using forged, and/or stolen identities.

Mandating E-Verify will correct this abuse!!

please urge your Democrat legislators to mandate E-Verify!!!

Posted by: buzzm1 | December 6, 2008 4:00 PM | Report abuse

Modernizing our Nation's infrastructure in order to provide benefit to society, sounds like something Thomas Edison attempted over 100 years ago. And as a result of such an initiative, our living conditions, our way of life, and our leadership in the world changed dramatically for the better. And now, over 100 years later, there is the potential, and a need, to again improve upon what once was, through the creation of new jobs and new technology in support of the infrastructure improvements which will again create the environment that will inevitably lead all of America to revitalized advances in areas of Science, Medicine, Communication, and Industry. Without such advances, and the infrastrucure required to advance, we will live in the past while our buildings decay, our energy drains, and our national influence dwindles. So to me, the Obama Plan sounds like something that Thomas Edison first attempted over a hundred years ago. And to understand the impact, one need only look back at how America has benefitted as a result of such initiative and innovative thinking. And to me, those who would stand in the way of the potential for a repeat of such innovative progress, are those who would stand in the way of America, preferring to live in darkness that would otherwise exist without the invention of the light bulb.

Posted by: jralger | December 6, 2008 3:12 PM | Report abuse

>

i.e. trickle down economics

Posted by: ooyah32 | December 6, 2008 3:05 PM | Report abuse

Just some answers:

----------------------
[...] how in the hell is construction work going to provide employment for the rest of America?

Posted by: ooyah32 | December 6, 2008 12:58 PM |
-----------

Answer: very simple, construction worker will be paying rent, will be going out, restaurants will be paying taxes, buying equipment, whatever is your business, you will feel it, if it goes according to the plan.

------------
We need to start saving money and cut gov programs.
Posted by: GloomBoomDotcom | December 6,
---------

Answer: if you stop spending, again the restaurant nearby will close, no tax revenues, schools are short of money, roads are not repaired, army is not paid, economic collapse. The goal is to spend money wisely, invest into infrastructure, not big screen TVs.

----------------------

we are drowning in debt and this guy is going to dump more on us.

Posted by: rplat | December 6, 2008 8:33 AM
------------

Answer: We are in an economic crisis. Private companies are not going to spent, they are firing employers. Who would hire those unemployed. Only the government. Sure, it will run a debt. An alternative is millions of unemployed and uninsured.


Posted by: thought1 | December 6, 2008 3:02 PM | Report abuse

How to stimulate the economy-

1. Cut taxes. Forget the "Progressive Income Tax." I can live like a king in New Mexico on $100K / yr, but move to NYC or Northern Virginia, I and others are barely making it. Fairness? The "Rich People" buy "Big Ticket" items that are labor intensive and complex to build. Money does flow downhill.

2. Infrastructure spending- What happened to all of those lottery dollars for the schools and all of the fuel tax revenue money go? California charges sales tax on gasoline sales and a tax on their gasoline tax. How about an audit of where the money goes before we pour it down a "rat-hole?"

3. No more Bailouts. No matter what that idiot from Washington State says (Jim McDermott), the money is the paople's money, not the "Coffer of the Congress" for them to raid and pillage. Think "fiduciary duty" Ms. Pelosi and Mr. Reid.

Sorry folks, the US Bankruptcy Court is accepting petitions today. If paople won't buy a car from a company that goes bankrupt, what about one with plenty of potential? Besides, the car companies can always re-affirm the warranty service. I don't work for GM, Ford or a PRIVATE CONCERN known as Chrysler.

4. Chop-up AIG and sell the pieces.

5. Chop-up Citi and sell the pieces.

6. Tell China to shut up, and if they don't like the way we run our markets, tough luck. We call it capitalism. Get used to it or pump more oil!!!

7. Drop the Fed Funds rate to 1/10th of 1%.

Finally, declare a tax holiday. Rep. Louie Gohmert (TX-01) has recently proposed returning all 2008 income taxes to American taxpayers as a solution to boost the ailing economy, as he believes taxpayers, rather than the government, should be using their hard-earned money to choose the economy's winners and losers.

Go to https://redstate.kimbia.com/taxholiday

By the way, I'm up for taking the Tim Geithner's slot on the New York Federal Reserve Board. Heck, if Alan Greenspan or Ben Bernanke listened more to me by following my posts instead of listening to Donnie Kohn, Dickie Fisher or Cherlie Plosser, we wouldn't be in this mess.


Posted by: Computer_Forensics_Expert_Computer_Expert_Witness | December 6, 2008 2:55 PM | Report abuse

Congress should repeal the Davis-Bacon Act before implementing any stimulus package. Taxpayers should not be forced to pay union wages for these improvements. Congress should be obligated to pay market wages when they are spending taxpayer money. If these improvements are implemented with union wages and union work rules then they will be excessively expensive and will function about as well as union made cars.

Posted by: fallsmeadjc | December 6, 2008 2:48 PM | Report abuse

Gotta love the Republican'ts!

Times good? Cut spending!

Times bad? Cut spending!

They learned nothing from the Depression. They actually think that government spending kept the Depression going, when it was a CUT in spending to try to balance the budget that brought progress to a halt.

They seem to believe everything their pundits say without actually reading history, especially economic history.

Fortunately, Obama is ignoring them, and it looks like Congress will ignore them, too.

Posted by: RealCalGal | December 6, 2008 2:45 PM | Report abuse

So,once again the looney toons lefty Liberal Democrats Phony President Elect Barack Hussein Obama reveals how clueless
he really is here. Since his stupid so-called "Economic Stimulus Plan" is a return
to FDR and his 1930s New Deal and all that
Obama has to offer is warmed over WPA and
CCC FDR Ear low paying jobs that will not
solve our economic crisis or create long term good paying jobs either now then.

So isn't it time Barack Hussein Obama accept his own role in creating the current
economic melt down and in him assisting that idiot Democrat Speaker Nancy Pelosi
and her Yes Man Harry Reid's out of control
Bail Out Spending and that he,Pelosi,and
Reid have got the USA into the Worst Long
Term Depression in History here? Did Obama
or Pelosi or Reid release the locations of
their new Depression Soup Kitchens and Bread Line Locations yet by now? Some great
"Change We Can Believe In" Here Obama!!!

Posted by: Marilyn80 | December 6, 2008 2:38 PM | Report abuse

The issue with our economy is that we are not producing as much as we consume and have not for decades as evidenced by the fact we are net importers and have been since the mid 70s. At first this was the result of increased oil prices, but now it is a result of outrageous dependence on foreign manufacturers/producers of almost everything we CONSUME ... even food. Our service industry jobs produce little enduring value and have little value to our trading partners. Therefore, the trade deficit goes up continuously, and we get poorer along the way.

Add to this the entitlement mentality of most Americans that they should have something because they want it, and you have people (and gov'ts) spending money they don't have to by something they don't need. To add insult to injury, most of the things they "cannot live without" are imported - from cars to clothes to tools to food to all the plastic junk that ends up in the land fills.

Obama can spend all the borrowed (from China et al) money he wants to have these projects, but what enduring jobs do they create? News flash, FDR's new deal spending did not lift us out of the depression, WWII did. That's right, US Steel, Ford, GM, Lockheed, Good Year, etc hiring millions to build tanks, planes, tires, etc. created jobs that ENDURED beyond the war to create cars, commercial air planes, and thousands of other consumer products ... made in the USA. People worked hard, producing more than they consumed. That's how you create wealth ... it isn't rocket science.

I had to laugh about the shopping last Friday. Millions of Americans piled into malls to buy things they don't need with borrowed money (from China et al if you follow the trail) to buy Chinese made products that cost American jobs ... seems kind of stupid when you think about it; trouble is, most people don't.

So, the gov't can spend all it wants, but the only thing that will turn this around is America becoming a net producer, not a net consumer ... and it begins with every individual.

Posted by: facts-please | December 6, 2008 2:37 PM | Report abuse

This is all about our national priorities:

If we could spend 10 billion dollars a month for the past 5 1/2 years to get the Big Oil Companies back into Iraq (see, the truth is, the mission was accomplished),
and
we can pour money into the treasuries of the Oil Exporting Countries to the tune of $700 billion a year so that we can feed the gas-guzzling big cars that we love to drive
and
we could spend hundreds of billions of dollars to give the richest Americans more money in the form of a tax break
then
we should be willing to spend at least as much on a Long Term Investment in our Infrastructure.

An investment of this sort will boost long range productivity.

It will improve our quality of life.

It will make us more energy efficient, thus reducing our addiction to imported oil.

Let's be smart here: we need to re-build our infrastructure: roads, bridges, schools and the "soft" infrastructure of broadband Internet access, and the like.

Let's get our priorities straight!

Posted by: AdrickHenry | December 6, 2008 2:35 PM | Report abuse

Invest in America first. If we cut all the money we are spending in Iraq (let them build their own dang country), we can spend that money in America on things that America needs, like infrastructure.

For every 1 billion spent on infrastructure, tens of thousands of jobs are created. And the jobs are not just people standing out on the side of the road in an orange vest building the roads. They are people who design the roads, people who finance the roads, people who feed the workers, people who sell the workers coffee, etc. All the more while, we have better roads to get to work on when the economy is better. And lets not forget that the people building and designing all this infrastructure are mostly private-sector workers.

Amazing how all these outer-suburban Republicans are complaining about spending on infrastructure. Aren't you all the same people complaining day in and day out about traffic on I-95, I-66, etc.?? The states have wanted to fix these roads for years, but there weren't enough Federal transportation dollars given to the states to do these big projects. Now we finally have infrastructure again spending after Reagan slashed it all in the 1980's, and you all are complaining. Sheesh.

Posted by: thetan | December 6, 2008 2:15 PM | Report abuse

For the neocons, I would ask you, "why is it not working your way?" GW Bush deregulated business and finance and still the economy is collapsing. Government now finds itself in the business of owning banks and pretty soon, auto companies. Your form of capitalism has failed us. Obviously, we need to try something new. FDR during the Great Depression turned America around with public works and make work programs. It works because it gives people money and a job, and then they can spend on consumer goods which further benefits the economy. Worrying about the deficit now is a mistake. It still remains 2% or so of GDP, and not a big problem. However, if we really want to cut gov spending, half our taxes go to defense, and that's where the cuts should be made.

Posted by: sofla | December 6, 2008 1:57 PM | Report abuse

Oh how I love the way all the Obama Cult Members go crazy if anyone ever questions their fake Messiah Barack Hussein Obama and
launch endless personal attacks against them or try to keep finding endless excuses
for Obama's screwups or inaction and stupid
liberal ideas that donot work..So yes you
betcha the Socialist Democrats need to rename their pathetic political party the
Socialist Party and be honest about it and
that their worse ideologs then the GOP.

Posted by: darlene80 | December 6, 2008 1:57 PM | Report abuse

Question: what if all banks and governments could agree to recast without much process. everything is upside down anyway with no real way out. so instead,
why can't banks simplify and recast current loans without going thru a big process. What if banks lowered interest rates and extended terms w/o much processing. wouldn't this immedaitely stimulate all ecomonies in all sectors?

Posted by: chaz31 | December 6, 2008 1:55 PM | Report abuse

We have to look at "the big picture." Our days of tunnel vision need to cease. Our nation better wake up and smell the coffee. With all our bail outs along with the 168 billion economic stimulus package, that btw did nothing for our economy it is hard to understand why our government can't see the need to bail us out of our dependence on foreign oil. The high cost of fuel this past year seriously damaged our economy and society. Why don't we invest in America's Energy Independence. It would cost the equivalent of 60 cents per gallon to charge and drive. The electricity used to charge the car could conceivably be generated by solar or wind. Why not invest some of these millions in getting some of these projects set up? Create clean cheap energy, badly needed new green collar jobs and reduce our dependence on foreign oil. What more of a win-win situation could there be? Now there is talk of another stimulus pkg. Don't get me wrong, if you hand me a check I will take it. I am broke from this past year myself. I just think we are going about this all wrong. I just read a fascinating book by Jeff Wilson called The Manhattan Project of 2009 Energy Independence NOW. We need to look at the "big picture" This book Is the big picture.

Posted by: BeyondGreen | December 6, 2008 1:55 PM | Report abuse

Democrats need to rename their party, Social Democrat or just go all the way and name it the Socialist party. At least the name would no longer be misleading and do no more dishonor to its founding

Posted by: StarsAndStripesForever | December 6, 2008 1:46 PM | Report abuse

Obama wants to stimulate the economy by spending money. That is exactly the wrong thing to do! We need to start saving money and cut gov programs. Find out why at GloomBoom.com

Posted by: GloomBoomDotcom | December 6, 2008 1:22 PM | Report abuse

Name ONE government program that is well-managed.

When the doctor is a quack, the cure is often worse than the disease.

Expect the d-crats to further politicize the bailout to favor their constituents just as they did with Freddie and Fannie - which led to massive mortgage defaults from unqualified borrowers which, clearly, is the root cause of the current financial crisis.

Expect a horrific mess that will last for a decade or more from the incompetent government intervention in financial markets.

The more people know about the US bailout efforts, the better. Unfortunately, the ignorant masses didn't elect a leader who will actually reform the Washington mess and instead were mislead by the liberal media lies and propaganda into going with a shallow, arrogant, platitude-spouting, inexperienced, drug-addicted, elitist, Marxist, narcissistic, flip-flopping gas-bag who is so mentally deficient from extensive drug use he even has to plagiarize his hollow platitudes.

Thus, it will only get worse -- much, much worse.

Posted by: ImpeachNOW | December 6, 2008 1:16 PM | Report abuse

All this is going to be paid for by you and I. The government is not paying for a dime of it because the government HAS NO MONEY OF IT'S OWN. The government does not create wealth ... it takes it ... and wast it .... always and forever ... especally under liberal managment. (I include President Bush under the lable of liberal management.).

If this is how President Obama is going to lead right straight out of the box, he will lose the house and senate in 2 years. Then some form of sanity can take back over... gridlock for 2 to 6 more years after that with not much being done at all ... and America will start growing again on it's own.

Posted by: markandbeth | December 6, 2008 1:16 PM | Report abuse

Trying to deny free speech again. You’ll probably end up “under the bus” with the rest of the dupes. like it? Deal with it Bitter Shrill.

Posted by: palmettonajjarhead | December 6, 2008 12:10 PM

Ha! Ha! Ha! Ha!
That Neoconned-Fascist propaganda parrot is really becoming unhinged now!

Enjoy the Republican Dodo Party extinction, you idiots and thieves earned it!

Now go buy some more AR15 assault rifles in the name of Jesus for your Rapture arsenal.

Posted by: kevinschmidt | December 6, 2008 1:16 PM | Report abuse

Notice how everyone who thinks Obama is a joke is labeled a conservative or neocon now? It's over, lemmings. The two party system is over. Democrats and Republicans is over. It's time to stop playing Cowboys and Indians and realize that politicians don't give a **** about you. What's with this Rep/Dem gang mentality?

Obama is a shill; a puppet for the power elite. You're going to see that soon. And believe you me, the rest of us are getting fed up with your brain dead partisan babble. We might just send you packing with his sorry--

Posted by: omega_man | December 6, 2008 1:07 PM | Report abuse

kevinschmidt, I love it...

"Enjoy your extinction, Republican Dodo Party!"

The Republican Party will split into two parties, one for fiscal conservatives and one for religious nut-jobs. Can you believe that Obama has to put energy-saving light bulbs in the economic recovery program? Imagine that. Eight years in office and they have not even put in modern light bulbs. Dodos indeed.

Posted by: washingtonpost31 | December 6, 2008 1:02 PM | Report abuse

Obama's recovery plan is a good start, but it needs emphasis on mass transit projects also. There are billions of dollars of projects that need completion, including the 2nd Avenue subway in NYC, the Dulles Line and Purple Line in D.C., the Subway to the Sea in LA, and dozens of light rail and commuter rail projects in these and other cities. All of these create jobs and clean air.

Posted by: raschumacher | December 6, 2008 12:58 PM | Report abuse

This is laughable.

His plan is the Civilian Conservation Corps?

His plan is to give me a shovel and tell me to go work on a road gang? THAT is the job he is offering me?? A return to the 1930s?

I can see how this is going to help the day laborers down at the 7-11, but how in the hell is construction work going to provide employment for the rest of America?

And switching out our furnaces and light bulbs??? Well, I'm telling you folks, you ought to bow down in praise before me, otherwise the economy would have been even worse off because I already recently bought a new furnace and light bulbs! Imagine the hell this country would be in if I hadn't already done my part in his plan of salvation for us.

Posted by: ooyah32 | December 6, 2008 12:58 PM | Report abuse

The focus should be on building "green" infrastructure (electric car, solar, ...), as much as possible. This would have MANY benefits:

1. It would help support the new "green" companies, providing them revenue to further advance their products. The global energy market is worth trillions and having the most advanced products would help make the US competitive in this market.

2. It would require the retraining of a large portion of the workforce for "green" jobs. These skills would continue to be valuable AFTER the stimulus is complete.

3. It would begin to redirect a large portion of the $700 billion currently exported to pay for oil to US "green" companies and utilities.

4. It would stimulate the market for the new generation of electric cars, giving the US car companies revenue to quickly advance the technologies to be globally competitive.

5. It would improve national security (less money would be sent to countries that dislike the US), and it would reduce the need to go to war for oil, saving countless lives and treasure.

6. A reduced demand for oil would maintain pressure to keep oil and gas prices low. This would benefit consumers, transportation companies, airlines, etc.

7. It would be a positive step toward energy independence.

Posted by: day2day | December 6, 2008 12:56 PM | Report abuse

Obama must be smoking dope if he thinks there are that many public works projects that will create that many jobs ready to go in the next 6 months. Maybe the next two years, but not sooner. Investment in public works should be part of the package, but it won't we enought to provide a near-term stimulus that turns things around. Other elements are needed. For example what ever happened to the middle class tax breaks we were promised by Obama during the campaign? They would put money into people's pockets "on day one." Some people might save the money, but there is so much pent up demand (as evidenced by consumer spending figures) that many would spend it -- for examply on paying mortgages that would otherwise default, or on consumer goods that would in turn create jobs (like autos).

Posted by: forrest1 | December 6, 2008 12:50 PM | Report abuse

I agree with palmettonajjar, we should let the schools continue to crumble, waste energy (keep those tires flat!), let bridges fall and potholes to grow. After all, this is good for America. And remember, if we do any infrastructure work it should be done by the market -- the same market that brought the economic meltdown we're currently in. Hooray for palmettoajjar!

Posted by: atidwell | December 6, 2008 12:47 PM | Report abuse

palmettonajjar:

Ah yes, another of our Neo-COn multiname posters.

Look bub. Your ideology lost. Period. The GOP had congress fo 14 years, and had the Senate, HOuse and Presidency for 6, and took a budget surplus- created by a Democratic President- and turned it into a massive deficit as they sacked the treasury for their cronies. They have mismanaged everything from their war making to anything domestic including fiscal planning. They have been the biggest Welfare Queens of all.

You can squeal shriek and cry all you want, but those are the facts. You aren;t going to shout us down like you have tried in the past.

Your ideology failed.

Someone else has to pay for your stupidity. Its a pity the rest of us have to carry you along with it, instead of dumping you somehwere in Sub-Saharan Africa where you belong. You know, the free market. No rules or regs. Just kill or be killed. You'll fit right in.

So sit down and shut up.

PS: The two Presidents who created the most jobs in the last 50 years were Jimmy Carter and Bill Clinton. Obviously that something this country could use right now. Not Job killers like Reagan and Bush.

Posted by: TortFeaser | December 6, 2008 12:38 PM | Report abuse

We got ourselves into this economic mess by committing economic treason against our own country. Buying Chinese products from Wal-Mart, Malaysian computers from HP, IBM, and Dell, Indian services and software from their workers and engineers. Yes we saved a few bucks at the register, US companies made ludicrous short term profits, and our jobs evaporated.

We created 50 million jobs for China, 20 million for India, 10 million for Malaysia, 7 million for South America, and we put 10's of millions of Americans out of work to do it.

Oh how Republicans love Bush's tax cuts. You know the ones....the ones that give a 100% discount on taxes for companies that send factories and jobs overseas... and the ones that deny tax breaks for alternative energy projects, and shower oil and coal and gas companies with billions of your tax dollars.

As long as the Chinese and India people continue to "hire only their own" and "buy from only their own" and the US citizens buy from "ANYBODY BUT the USA", the destruction of our country will continue at a dizzying pace.

So go ahead, save a buck and buy Chinese junk from Wal-Mart. When you are at the counter, try to remember that feeling. The feeling that should be gripping you. That is the feeling of committing treason against your country, your family, and your neighbors.

Posted by: david771 | December 6, 2008 12:22 PM | Report abuse

What is missing? A nation-wide system of high-speed passenger trains--something like the interstate highway system. That is the key to a great lifestyle in the 21st century, and a great way to create new jobs.

~~~~~~~~~~~

Agreed. The infrastructure is already there. America's rail system has undergone a 30 year modernization and rebuilding from the waning days of the Carter Administration to the present. Yet it's not being used to capacity. Passenger terminals can be built and only those roads that service them should be included in the appropriations bills related to rail transportation. In the meantime, bridges and highways are presently built to the highest standards ever with bridges now built to a 100 year standard, up 50 years from the 70's. They won't deteriorate as fast if commuter traffic is greatly reduced and more commercial freight is moved by rail. In the end, the market will drive the development and government should back off.

Posted by: palmettonajjar | December 6, 2008 12:19 PM | Report abuse

Carleen19771:

Shut up. Take your false enemy redneck dogma back to the trailer park where it belongs.

That stupid dialogue is why this country is in the toilette that it is. You deserve the crappy life you get, because you voted for it, but the rest of us are tired of it.

Posted by: TortFeaser | December 6, 2008 12:10 PM | Report abuse

Give it a rest. You continue to make an azz out of yourself with your cynical, chicken little, hysterical rantings, lies and stupid opinions asserted as facts.
Please fade away for a generation like the rest of the immoral, idiotic Republican Dodos who totally screwed up and looted the country.
~~~~~~~~~~~~~~~
Good morning Kevin Shrill,

Trying to deny free speech again. You often try to do that to a lot of people to no avail. Got your ticket to the inauguration yet. Be sure to go. You’ll probably end up “under the bus” with the rest of the dupes. In the mean time, I’ll happily stop by from time to time to call you on your lies, and to tag you, and your man in the Oval Office on all the stupid remarks and proposals you both make. Don't like it? Deal with it Bitter Shrill.

Posted by: palmettonajjar | December 6, 2008 12:10 PM | Report abuse

To all of you saying that replacing light bulbs and HVAC systems is fluff, stop and think about it, if we as standard consumers can save hundreds a year by doing those things in our homes, how much will it save in the long run for larger buildings? hundreds of thousands or more per building. If we are spending less inward there is more money to spend outward.

As far as intra and interstate mass transit yes its needed but it would take several years to go through planning and actually get people working on them, while that planning is being done it makes sense to put people to work NOW, roads and bridges being repaired and maintained until a more sustainable form of transportation can be put in at least creates jobs.
These may not be perfect fixes but sometimes you have to patch the roof for awhile until you can reroof it.

Posted by: debraf66 | December 6, 2008 11:59 AM | Report abuse

Yonkers, New York
06 December 2008

With the eocnomic crisis threatening to push the United States into the long and dark tunnel of a Great Depression the likes of which will make the Great Depression of 1929 look like a tempest in a teapot, the whole nation can take comfort in the fact that President-elect Barack Obama and his economic team are designing an Economic Recovery Program that is at least proportional to the challenge and will in time restore America to health, vigor and strength as the premier economic and military power on our planet.

Given the severity and size of the crisis American faces, no quick-fix half-measures will do. Only big, bold and even radical prescriptions stand a chance of doing the job--and that is apparently what Barack Obama and his economic team have in mind.

It follows that this is no time to be worrying about Federal budget deficits. The overarching goal is to stop the recession dead in its tracks, no matter what it takes in terms of effort and resources.

Mariano Patalinjug
MarPatalinjug@aol.com

Posted by: MPatalinjug | December 6, 2008 11:55 AM | Report abuse

What is missing? A nation-wide system of high-speed passenger trains--something like the interstate highway system. That is the key to a great lifestyle in the 21st century, and a great way to create new jobs.

Posted by: rusty3 | December 6, 2008 11:53 AM | Report abuse

Written by maherg:
How is spending on highways decreasing our dependency on foreign oil? Shouldn't we be spending the money on public transportation instead? It is pathetic that most of our major cities do not have adequate rail or subway systems...

TOTALLY RIGHT! Roads should not be a priority, rail lines should be. We could be cutting tons of emissions if people were able to use rail alternatives. Why doesn't anyone mention this???

Posted by: teaparty | December 6, 2008 11:49 AM | Report abuse

It sounds like a very sensible plan, and one that will not buy short run results at the expense of longer term efficiency gains.

My only complaint is that the program is not literally designed to "restart" the economy, but rather to soften and shorten the bottom of the recession. Most of the restarting will be done by people making their own individual decisions to buy and sell things, start new firms, expand, etc. However, having an improved infrastructure and a few more people on payrolls will make many of those decision far easier.

Posted by: rdco | December 6, 2008 11:41 AM | Report abuse

I think it's laudable that Obama wants to increase high speed internet adoption, but why use our tax dollars to do it? The growth in high speed internet adoption has been stunning in the United States thanks to the private marketplace. Is it slower than, 14 other countries? Probably—but I bet most of those countries are smaller, with higher population clustering and therefore it costs less for the market to expand broadband, even with low demand for such services.

On the other hand, the United States is a larger, more diverse population. The demand for high speed internet does not currently match the cost required to develop it. There's nothing wrong with that, it's just how it is. If within a decade it doesn't change, then maybe there is something the matter with the market, but as of now this is just going to be government spending money on a pet project for the benefit of their corporate telecommunication donors.

Posted by: nshapiro1 | December 6, 2008 11:38 AM | Report abuse

The looming depression is unsettling to say the least. When I first heard of the 9/11 attacks, my first comment was, "What a time to have a buffoon for a President." With the economic crisis we are now facing, my comment is, "At least we have a smart guy for President." We're facing tough times, but we have a leader in Obama. Not everything he does will be perfect, but we're heading in the right direction, finally.

Posted by: KateSaunders | December 6, 2008 11:30 AM | Report abuse

Hopefully BO has cleared all of this with Queen Hillary and friend Bill.

Posted by: KBlit | December 6, 2008 11:17 AM | Report abuse

So the Great Fraud Orama Messiah Barack The
Chicago Con Man Hussein Obama calls this
an "Economy Stimulus Plan"? Well I call it
a damn joke! Sure,sure Big Mouth Liar Obama
now tell us where all your phony lying
"Change We Can Believe In" is you liar?

Posted by: Carleen19771 | December 6, 2008 11:17 AM | Report abuse

Posted by: palmettonajjar | December 6, 2008 10:48 AM |
Posted by: palmettonajjar | December 6, 2008 10:29 AM |

Give it a rest. You continue to make an azz out of yourself with your cynical, chicken little, hysterical rantings, lies and stupid opinions asserted as facts.

Please fade away for a generation like the rest of the immoral, idiotic Republican Dodos who totally screwed up and looted the country.

The adults are back in charge. Deal with it.

Posted by: kevinschmidt | December 6, 2008 11:00 AM | Report abuse

[Quote by vwcat]: It's obvious many here cannot see underneath what is being said.
Obama is only going to release surface stuff for now. Bush is still in office and is demanding the rest of the bailout money for his corporate cronies. Knowing congress they will because they are too spineless to say no.
However, obama would be a fool to announce much more then just enough to satisfy talking heads and calm people's nerves.
Like a good poker player, he is keeping his cards close to his chest until he takes office.

~~~~~~~~~~~~
Already making excuses for Obama? Obama is pushing harder than anybody for more bailouts, and rest assured, he has his own cronies to look out for, and some of them are the same cronies from before. Don't worry about the talking heads. Those tingly leg wetters were on board with Obama from the start. And yeah, Obama's a good poker player all right. Like you said, he'll keep his cards close to his chest before attacking the Constitution and kowtowing to Harry Reid and Nancy Pelosi on Inauguration Day. Lets all look for four more years of Jimmy Carter. At least we can start with this lousy House and Senate in just 24 months.

Posted by: palmettonajjar | December 6, 2008 10:48 AM | Report abuse

Dubya fiddles while the country burns, and dick Cheney's Neocon-Fascist thugs continue to loot and plunder.

Meanwhile Obama and the Democrats are bringing responsibility back to town, finally. The adults are back in charge.

Enjoy your extinction, Republican Dodo Party! You earned it, not to mention five to ten in the pen!

Posted by: kevinschmidt | December 6, 2008 10:45 AM | Report abuse

It's obvious many here cannot see underneath what is being said.
Obama is only going to release surface stuff for now. Bush is still in office and is demanding the rest of the bailout money for his corporate cronies. Knowing congress they will because they are too spineless to say no.
However, obama would be a fool to announce much more then just enough to satisfy talking heads and calm people's nerves.
Like a good poker player, he is keeping his cards close to his chest until he takes office.

Posted by: vwcat | December 6, 2008 10:34 AM | Report abuse

I'm glad President Elect Obama is working on solutions to help us because this idiot we have in the White House now is doing his usually, duhhhh.

Posted by: shipfreakbo214 | December 6, 2008 10:33 AM | Report abuse

[Obama Quote] The plan, as outlined by Obama, includes:

-- A "massive effort" to make federal buildings energy-efficient by replacing aging heating systems and installing efficient light bulbs. Obama said the effort would save taxpayers "billions of dollars each year" and put people back to work. [End Obama Quote]
~~~~~~~~~~~~
It that clown for real? Energy efficient light bulbs, air in our tires...? Yea, Obama’s full of hot air alright! Is he trying to be funny? How about freezing most domestic spending and pushing industry to get more oil and gas out of the ground, build more nuclear reactors, and mandate rail transportation of more goods and commuters between cities. If that dweed can’t lead, it’s not too late for him to step down and resume his one and only career as a community organizer. I’m sure 48-49% …or more… of the voting public wouldn’t mind one bit given the bad decisions he’s made to date. Damn, he hasn’t even been sworn in yet.

Posted by: palmettonajjar | December 6, 2008 10:29 AM | Report abuse

"Poorly maintained school buildings and the lack of high-speed internet connections are not the reasons for poor educational achievement. This is superficial..."

And this is missing the point. Obama is outlining a plan to stimulate the economy by building infrastructure. A good place to start is by delivering broadband to school districts that don't have it, and for having green air conditioning systems in place in those schools, as well as computers that can acquaint kids with the tools used in mainstream jobs.

No government is able to stimulate people to learn, but providing the tools for learning to happen is good governance.

Posted by: ChrisNBama | December 6, 2008 10:22 AM | Report abuse

I listen to Obama carefully. I am so pleased that we now have a competant leader. I love competitive capitolism. It's fine when a company fails to compete and it goes belly up, if that happens in a thriving economy. We don't have that, now. I hate to think of what would happen if our entire auto industry goes belly up. Three million mmore people without jobs or health care.

We don't have to worry about inflation today. We need to print some more money to serve as a medium of exchange. I lost 30 percent of my retirement savings. I'm OK. Don't print me money. Print it for the workers.

Posted by: AlbertLMiller | December 6, 2008 10:21 AM | Report abuse

-- A new push to extend broadband Internet into places of the country that still lacks high-speed connections.
---------------------------------
Apparently Obama wants to make sure he can add millions of more people to his internet contact list.

Posted by: mafox1 | December 6, 2008 10:16 AM | Report abuse

How is spending on highways decreasing our dependency on foreign oil? Shouldn't we be spending the money on public transportation instead? It is pathetic that most of our major cities do not have adequate rail or subway systems, and the Amtrak is one of the most inefficient ways to travel.

Posted by: maherg | December 6, 2008 10:05 AM | Report abuse

Poorly maintained school buildings and the lack of high-speed internet connections are not the reasons for poor educational achievement. This is superficial; I have a friend who used to study on the bus every day from school. I couldn't underline my book like she could with the bumpy ride--she's a doctor now.

The reason for low achievement is that there is little desire to be educated and intelligent. These are not characteristics that are admired in too many low-income neighborhoods and there are precious few role models for them to see in their everyday lives.

This "plan" does not appear to be well thought out.

Subsidizing teachers salaries will enable public school systems nationwide to raise salaries, thus by definition improving the quality of the applicants according to the rules of supply and demand. People in poor families (some without jobs) need adult education and training; they need better public transportation to get to work; they need day care for their kids; they need help with food and housing costs; they need a constant visible police presence to deter crime in their neighborhoods not harass; and they need access to healthcare period, not the latest "cutting edge technology."

The energy efficient building idea sounds good but it's fluff. We need a leader who will encourage the masses to change their habits and use less energy at home. We need a president who will tell Barbara Walters, "Yes, I sneak around the house and turn off lights and will do so at 1600 Pennsylvania Avenue;" not one who says, "You don't have to be obsessive about it."

Posted by: faithfulservant3 | December 6, 2008 9:59 AM | Report abuse

One thing that is interesting about our financial problems is the only one the left is blaming is Bush. All revenue bills, and appropriations must start in the House of Representatives. Where was the Democrat leadership in the House when the warnings came about Fannie and Freddie. Frank andother Dems heard the evidence and did nothing. A bailout bill and tougher regulations a couple of years ago could have solved the problem. The only reason there are no witch hunts over the mortgage debacle is that Democrats would be the ones that would be under the harsh spotlight. Only 44 days to go and Bush will be history. You Bush bashers need to get your shots in now because in 44 days the nation's problems are going to belong to Obama and the Democrat controlled congress.

Posted by: saelij | December 6, 2008 9:54 AM | Report abuse

Sounds like nothing but massive boondoggles shaped to reward specific voting blocks.

But the economy will more than likely recover in spite of such hackery... and if Obama is lucky, it will happen in time for him to claim credit for it.
.

Posted by: gitarre | December 6, 2008 9:53 AM | Report abuse

Posted by: pat11: "Is it that the government does not tax enough or spends to much. We are getting killed with all of the taxes that we pay. The last thing the government should do is raise taxes during a recession."


Sorry, dude. We are getting killed by what the neo-cons are spending the tax dollars on. War, redistributing wealth to rich people, more war, killing apparatus, more war, big oil companies, Cheney's Haliburton, and more war. Give it up. Your vision of hate is appalling.

Posted by: swatkins1 | December 6, 2008 9:33 AM | Report abuse

HillMan said: Um, the highway (and by extension the auto) industries have traditionally been huge recipients of largesse from Republican administrations.

And if you've got better ideas let's hear them.


How do you sleep at night saying such lies? The repubicans haven't spent one red cent on our nation's infrastructure. All for war, nothing more.

Posted by: swatkins1 | December 6, 2008 9:28 AM | Report abuse

Bush's legacy: F*ck everything up to the point of disaster, then walk away and claim he had nothing to do with it. Brilliant. What a traitor. Remember when he put his hand on the bible and swore an oath? It meant absolutely nothing to him.

Posted by: swatkins1 | December 6, 2008 9:22 AM | Report abuse

Obama is on the right path and needs the Nation's full support. It has become more than obvious that our economic and social welfare has been poorly served by Republican conservatism and their lack of regard for the needs of our citizens.

Obama's thrust is to invest in America and Americans, not to serve only Wall Street and the greed of Corporate America/Global Big Business!

Posted by: aeaustin | December 6, 2008 9:12 AM | Report abuse

Remember after hurricane Katrina(?) when the federal government spent all that money and it was discovered later how much got "siphoned off". I wonder how much of this money is going to get siphoned off.

Posted by: DarylAtamanyk | December 6, 2008 9:10 AM | Report abuse

The scummy neocons posting on this article are sickening. Bush and republicans have brought this country to ruin. They've run up 11 trillion in debt! Started two wars that they have no idea how to fight! Distroyed our financial system! Distroyed our health system! Distroyed our economy! Ruined our status in the world, and with our allies! Either help Obama fix this mess or shut the hell up!

Posted by: JacksonGA | December 6, 2008 9:08 AM | Report abuse

Oh wonderful . . . we are drowning in debt and this guy is going to dump more on us. This poor, sick, incompetent country and its government have gone completely insane.

Posted by: rplat | December 6, 2008 8:33 AM | Report abuse

"On anyone, anything, any special interest."

Um, the highway (and by extension the auto) industries have traditionally been huge recipients of largesse from Republican administrations.

And if you've got better ideas let's hear them.

Posted by: HillMan | December 6, 2008 8:28 AM | Report abuse

If private employment is going down, why is goverment manpower going up? The more folks the Feds employ unscrewing lightbulbs, the higher our taxes will raise to pay. I understand that the next Washington will be rabidly anti-business, pro more government, but does noone see the connection?

If in fact, the way out of the current economic problem is to shift employment from free market, let's go all the way and abolish all private companies above the corner grocery store level. Heck, the economically disastrous Soviet Union even owned those -- Bottles of Vodka and types of bread were labeled with numbers because some bright light in the monolithic Communist Party thought that more efficient.

Of course, "tickle down" evokes images of 23 year old Wall Street workers getting $5 Million bonuses, but don't throw out the baby with the bathwater. Private innovation and courage has driven our country since the beginning. It is now being systematically replaced by government control using the excuse of a few immoral players.

If we let it, this elimination of American business will destroy our country.

Posted by: tommariner | December 6, 2008 8:27 AM | Report abuse

Obama will be the 44th and Final President of Them United States of America. The federal government is about to collapse; I mean JESUS CHRIST, if your country is bankrupt you don't start spreading around the shards of the piggybank. But this is the terminal cancer that has befallen our government.

Obamabots, I will LAUGH IN YOUR FACES. And you can fret over who's in what political party while the post-apocalyptic motorcycle gangs chase you through what was once America.

Actually, there probably won't be much of an Apocalypse. But you can bet there's going to be a new [sane] social order, and you screwball lemmings had better watch yourselves.

Posted by: omega_man | December 6, 2008 8:26 AM | Report abuse

Unconventional energy conversion systems are under development. Not only can they be used to power homes and businesses of every variety, but also to make practical cars, trucks, buses, ships and eventually aircraft that need no engines, batteries, or any variety of conventional fuel or recharge.

One Proof-of-Concept prototype was concluded to be analogous to the early work on the transistor, which eventually led to a Nobel Prize and the creation of Silicon Valley.

Generators we are developing are expected to generate this much power and demonstrate replacement of the plug needed by a plug-in hybrid car, within a year. This will be a harbinger of automobiles that need no conventional fuel. Prototypes will open a path to mass production of entirely new varieties of automotive power plants. Vehicles powered by these technologies will never require conventional fuel of any kind.

Cars can become a source of income! It was recently estimated that selling power to the grid from future production hybrid electric cars might earn the vehicles’ owner $4,000 each year. This assumes that power will be drawn by utilities from the car’s batteries, using a two-way, plug.
In the future, cars powered by new energy conversion systems are expected to earn much more, as these generators are anticipated to replace both batteries and car engines. Therefore, they are expected to produce far greater amounts of electricity. No plug will be required.

A revolutionary product this far-reaching has the potential to provide huge numbers of new jobs and opportunities for new enterprise. The economic impact of cars as power plants may prove a surprising way to stimulate the global economy.

Posted by: magneticpower | December 6, 2008 8:19 AM | Report abuse

"Through higher taxes, revenue could be used to develop alternatives, pay down the deficit or use for universal health care."

Is it that the government does not tax enough or spends to much. We are getting killed with all of the taxes that we pay. The last thing the government should do is raise taxes during a recession.

Posted by: pat11 | December 6, 2008 8:18 AM | Report abuse

I may have missed something, but I don't recall very many cases of "environmentalists" trying to block bridge and road repairs. Nor do I think they'd be against extending broadband access. On the other hand, it's likely that conservative ideologues like frankn1 will oppose needed infrastructure spending because it's too "big government."

Posted by: Rightist | December 6, 2008 8:13 AM | Report abuse

The U.S. experienced full employment during World War II: The jobless rate was a mere 2%. Early in 1977, the late Robert Edmonds an economist, L.V. Watkins, Jr. an attorney experienced in economic development and I, prepared the second of two reports for the Economic Development Administration that described a Human Investment Tax Credit program. We suggested a group of employment tax credits and provided research to support turning them into law. The 1977 job tax credit program, which reflected a few of the recommended incentives, generated 900,000 private-sector jobs, fully 20 percent of all new jobs created that year. To that moment (and perhaps since) it resulted in more jobs in less time than any single piece of legislation in our history. A Census Bureau survey showed that only 34 percent of all businesses were aware of the little-publicized program. Only a third of the eligible businesses utilized the credits. The White House opposed the job tax credit, and it was little advertised.

If promoted effectively, with all of the suggested incentives, it might have met the original goal of generating three million to six million new jobs and encouraging one million to four million people to become self-employed. Since Congress created the program over Administration opposition, the following year the program was gutted and became the targeted jobs-tax credit, with only a small fraction of its previous effectiveness. Unemployment is once again a most urgent problem. The tax incentives in the Human Investment Tax Credit program can readily be updated and voted into law. That should be the first order of business for the new Administration and Congress.

Posted by: magneticpower | December 6, 2008 8:09 AM | Report abuse

Lets keep this simple. Obama's stimulus plan is SPEND, SPEND, SPEND. On anyone, anything, any special interest. I guess the idea of fiscal responsibility lasted about a half minute or so.

Posted by: birvin9999 | December 6, 2008 8:07 AM | Report abuse

One of the main causes for Detroit's problems result from this country's lack of a good energy program. Now that we have the producers over a "barrel", where is the energy policy? Now that prices are low, Obama should call for an energy summit and plan for an energy future that will call for the use of all of America's resources. Oil will be with us for a long time. Why not expand our own capacity? Through higher taxes, revenue could be used to develop alternatives, pay down the deficit or use for universal health care. At the same time, we could deprive the oil producers - Russia, Venezuela, Iran, etc. with funds to cause trouble for us and the West. Stable energy prices would also help the Big 3 plan for the future. If our own resources are not part of Obama's energy plan, then he is setting us up for another round of oil price spikes as soon as the world economy recovers.

Posted by: saelij | December 6, 2008 8:03 AM | Report abuse

Obama said he will push Congress to enact legislation that he said would "help save or create" 2.5 million jobs, "while rebuilding our infrastructure, improving our schools, reducing our dependence on oil, and saving billions of dollars."

Has anyone informed this "EXPERIENCED" next President that "WORDS" do not get the job done. Yes let's go borrow $$$$$ from China (every thing else we buy is made in China)to rebuild our infrastructure, which the environmentalist will block so that most of the money earmarked is spent for the lawyers in this country. Any of these projects proposed will take years to implement and then we would see job creation. Until the slow wheels of govt and arcane rules are removed, we as a country will be suffering for some time to come.

Posted by: frankn1 | December 6, 2008 7:49 AM | Report abuse

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