Progressive Sockpuppet Smear Machine | Main | Speculation: New York Times May File for Bankruptcy by... May?!?
January 08, 2009

Obama Economic Speech

The President-Elect is about to give a "major economic speech" where he'll layout the rationale for his stimulus plan. Needless to say, it's pretty much the same demand side argument we've heard from him over the last year or so.

President-elect Barack Obama said Thursday that the U.S. recession could "linger for years" unless Congress acts to pump unprecedented sums from Washington into the U.S. economy, making his highest-profile case yet on an issue certain to define his early presidency.

"I don't believe it's too late to change course, but it will be if we don't take dramatic action as soon as possible," Obama said in a speech set to be delivered at George Mason University in Fairfax, Virginia, outside Washington. Excerpts from his prepared text were released in advance by his transition team.

"A bad situation could become dramatically worse," he said, painting a dire picture -- including double-digit unemployment and $1 trillion in lost economic activity -- that recalled the days of the Great Depression in the 1930s.

If spending were the key to prosperity, given all the increased spending the federal government has been doing over the last few years, especially over the last year, shouldn't we be rolling in the rainbows and unicorns by now?

Possibly complicating Obama and the Democrats plan, the Chinese don't seem so keen on continuing to play banker to us. Hmmm, I wonder why.

I'll update if anything interesting comes out of the speech but I'm guessing it'll be more scare mongering and demand for huge increases in spending.


digg this
posted by DrewM. at 11:14 AM

| Access Comments




Recent Comments
IC, now with extra super elite: "One of the many problems w. our media people is th ..."

Kris Wallace: "Thell me Mr Putin, boxers or briefs? ..."

runner: "Is Chris even listening to Putin ? He is acting we ..."

J.J. Sefton: " Pr'zhals'sta, piri'dait'sa kisoslatkiya kriv'yat ..."

bluebell: "Does he really work for Fox News, Decaf? ..."

Froderick Wonkensteen: "I just want to know, hey, Trump did good on some s ..."

blaster: "atc the clownbonercar on fire right now is because ..."

Under Fire: "Will he let Putin jack in his shoe like he does !j ..."

runner: "uh oh, "Read my lips, Chris.." ..."

J.J. Sefton: "32 I want to know what the Russians did to get Bar ..."

Decaf: ""It might be time to start giving Phillipe Reines ..."

hogmartin: "[i]I assume he is of French descent from the name. ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64