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*** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."

 
acolyte
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02/05/2009 08:17 AM
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*** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
[link to www.msnbc.msn.com]

In op-ed, Obama warns of irreversible recession

WASHINGTON - President Barack Obama warned on Thursday that failure to act on an economic recovery package could plunge the nation into a long-lasting recession that might prove irreversible, a fresh call to a recalcitrant Congress to move quickly.

In an op-ed in The Washington Post, the president argued that each day without his stimulus package, now exceeding $900 billion in the Senate, Americans lose more jobs, savings and homes. He painted a bleak picture if lawmakers do nothing.

"This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse," Obama wrote in the op-ed titled, "The Action Americans Need."

Senate Democratic leaders hope for passage of the legislation by Friday at the latest, although prospects appear to hinge on crafting a series of spending reductions that would make the bill more palatable to centrists in both parties.

Obama rejected the argument that more tax cuts are needed in the plan and that piecemeal measures would be sufficient, arguing that Americans made their intentions clear in the election.

"I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change," he wrote.

Growing larger each day
Historically huge to begin with, economic stimulus legislation is growing larger by the day in the Senate, where the addition of a new tax break for homebuyers sent the price tag well past $900 billion.

"It is time to fix housing first," Sen. Johnny Isakson, R-Ga., said Wednesday night as the Senate agreed without controversy to add the new tax break to the stimulus measure, at an estimated cost of nearly $19 billion.

The tax break was the most notable attempt to date to add help for the crippled housing industry and gave Republicans a victory as they work to remake the legislation more to their liking.

Three swing-vote senators met with Obama at the White House on Wednesday to discuss possible cutbacks, but they declined to discuss details of their talks. Obama has made the legislation a cornerstone of his recovery plan.

GOP looks to cut spending
For their part, Senate Republicans signaled they would persist in their efforts to reduce spending in the measure, to add tax cuts and reduce the cost of mortgages for millions of homeowners.

Officials figures were unavailable, but it appeared that the measure carried a price tag of more than $920 billion, making it bigger than the financial industry bailout that passed last year and as large as any measure in memory.

-------------
UPDATE: Here's the article

[link to www.washingtonpost.com]
The Action Americans Need


By Barack Obama
Thursday, February 5, 2009; Page A17

By now, it's clear to everyone that we have inherited an economic crisis as deep and dire as any since the days of the Great Depression. Millions of jobs that Americans relied on just a year ago are gone; millions more of the nest eggs families worked so hard to build have vanished. People everywhere are worried about what tomorrow will bring.

What Americans expect from Washington is action that matches the urgency they feel in their daily lives -- action that's swift, bold and wise enough for us to climb out of this crisis.

Because each day we wait to begin the work of turning our economy around, more people lose their jobs, their savings and their homes. And if nothing is done, this recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse.

That's why I feel such a sense of urgency about the recovery plan before Congress. With it, we will create or save more than 3 million jobs over the next two years, provide immediate tax relief to 95 percent of American workers, ignite spending by businesses and consumers alike, and take steps to strengthen our country for years to come.


This plan is more than a prescription for short-term spending -- it's a strategy for America's long-term growth and opportunity in areas such as renewable energy, health care and education. And it's a strategy that will be implemented with unprecedented transparency and accountability, so Americans know where their tax dollars are going and how they are being spent.

In recent days, there have been misguided criticisms of this plan that echo the failed theories that helped lead us into this crisis -- the notion that tax cuts alone will solve all our problems; that we can meet our enormous tests with half-steps and piecemeal measures; that we can ignore fundamental challenges such as energy independence and the high cost of health care and still expect our economy and our country to thrive.

I reject these theories, and so did the American people when they went to the polls in November and voted resoundingly for change. They know that we have tried it those ways for too long. And because we have, our health-care costs still rise faster than inflation. Our dependence on foreign oil still threatens our economy and our security. Our children still study in schools that put them at a disadvantage. We've seen the tragic consequences when our bridges crumble and our levees fail.

Every day, our economy gets sicker -- and the time for a remedy that puts Americans back to work, jump-starts our economy and invests in lasting growth is now.

Now is the time to protect health insurance for the more than 8 million Americans at risk of losing their coverage and to computerize the health-care records of every American within five years, saving billions of dollars and countless lives in the process.

Now is the time to save billions by making 2 million homes and 75 percent of federal buildings more energy-efficient, and to double our capacity to generate alternative sources of energy within three years.

Now is the time to give our children every advantage they need to compete by upgrading 10,000 schools with state-of-the-art classrooms, libraries and labs; by training our teachers in math and science; and by bringing the dream of a college education within reach for millions of Americans.

And now is the time to create the jobs that remake America for the 21st century by rebuilding aging roads, bridges and levees; designing a smart electrical grid; and connecting every corner of the country to the information superhighway.

These are the actions Americans expect us to take without delay. They're patient enough to know that our economic recovery will be measured in years, not months. But they have no patience for the same old partisan gridlock that stands in the way of action while our economy continues to slide.

So we have a choice to make. We can once again let Washington's bad habits stand in the way of progress. Or we can pull together and say that in America, our destiny isn't written for us but by us. We can place good ideas ahead of old ideological battles, and a sense of purpose above the same narrow partisanship. We can act boldly to turn crisis into opportunity and, together, write the next great chapter in our history and meet the test of our time.

The writer is president of the United States.
I will love the light for it shows me the way, yet I will endure the
darkness for it shows me the stars. (Og Mandino)
"Credo Quia Absurdum" (I believe it because it's absurd)
Links to my forum on GLP are banned so just google "the chani project forum"
Anonymous Coward
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02/05/2009 08:20 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
people dont understand what an economy is.....an economy is just a group of people trading stuff for other stuff....that is all. once you understand that, you realize that the rest is just bullshit. the government makes everyone depend on their money and then when they want a recession they find a way to cut the money supply and everyone is broke.
Follower of Jesus

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02/05/2009 08:22 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I laugh every time I hear someone say "we been thru this before and well get out of it; we always do"

Well folk I doubt we will get out of this; these are the kind of events that change a country permanently.

It won't be long now and life as we know will be changed and the prophetic events will unfold as spoken of in the bible.

We are one single trigger event away from the ball rolling and God comes to see how you lived your life.

What do you think God will see inside of you?

Darkness or Light?
Follower of Jesus
acolyte (OP)

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02/05/2009 08:25 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
Solution = Protocols for Economic collapse = MARTIAL LAW
I will love the light for it shows me the way, yet I will endure the
darkness for it shows me the stars. (Og Mandino)
"Credo Quia Absurdum" (I believe it because it's absurd)
Links to my forum on GLP are banned so just google "the chani project forum"
Anonymous Coward
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02/05/2009 08:29 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I recall the Bush administration saying the same thing when they wanted their 800bill package passed. That one didnt work either.
Wake up sheeple! The money they are spending will not help us little people at all. It is just going to open the door for the government to tell those that do get the money how to run their businesses. I think the goal is to get controll of all the banks and major industries because tptb think they know what is best(ie:tptb with all the money and the little people as slaves).
Anonymous Coward
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02/05/2009 08:30 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
Ah, change you can believe in... lol

Seriously, it's not Obama's fault, but you've got to be kidding me if you think this stimulus package is going to do ANY good. The truth hurts, but what can you do besides prepare and go through the storm.
anonomous
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02/05/2009 08:33 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
good grief americans will have to use the old proven ways to conquor this mess..produce all of our own goods again here in america....dammm that could eliiminate unemployment .do we really want an old time proven cure right now, or should we all wait til bailout funds are depleted and wasted ..i say recycle and renew our own goods now..inside of our own country ...
Anonymous Coward
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02/05/2009 08:33 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I recall the Bush administration saying the same thing when they wanted their 800bill package passed. That one didnt work either.
Wake up sheeple! The money they are spending will not help us little people at all. It is just going to open the door for the government to tell those that do get the money how to run their businesses. I think the goal is to get controll of all the banks and major industries because tptb think they know what is best(ie:tptb with all the money and the little people as slaves).
 Quoting: Anonymous Coward 537948



RIGHT ON!
This is bullshit. Obama is doing a great job keeping any potential investors away by constantly increasing the gloom and doom scenario. This is an orchestrated effort to gain control of banks and wall street so the PTB can dictate from their bully pulpit. This has been planned and is now being carried out by the NWO puppets. The sheeple allowed it to happen and now we are screwed.
Anonymous Coward
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02/05/2009 08:34 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
Obama warns of irreversible recession

The time of warnings are way past well DAH!!
At least there was no mention of "moving swiftly and Boldly"
Words that are really getting worn out and hammered..
Anonymous Coward
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02/05/2009 08:39 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
otrike
Anonymous Coward
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02/05/2009 08:40 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
its this simple - protectionism WORKS. everyone knows it.
Anonymous Coward
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02/05/2009 08:42 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
do I have this straight? We are in dire financial / economic straights because we spent years on a spending spree financed by borrowing money we didn't have.

Right?

So to fix the problem we are going to go on a spending spree financed by borrowed money. Money that we don't have.

Right?
acolyte (OP)

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02/05/2009 08:48 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
do I have this straight? We are in dire financial / economic straights because we spent years on a spending spree financed by borrowing money we didn't have.

Right?

So to fix the problem we are going to go on a spending spree financed by borrowed money. Money that we don't have.

Right?
 Quoting: Anonymous Coward 608189

Yep, right rebama lol
I will love the light for it shows me the way, yet I will endure the
darkness for it shows me the stars. (Og Mandino)
"Credo Quia Absurdum" (I believe it because it's absurd)
Links to my forum on GLP are banned so just google "the chani project forum"
SHRModerator
Forum Administrator

02/05/2009 08:48 AM

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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I recall the Bush administration saying the same thing when they wanted their 800bill package passed. That one didnt work either.
Wake up sheeple! The money they are spending will not help us little people at all. It is just going to open the door for the government to tell those that do get the money how to run their businesses. I think the goal is to get controll of all the banks and major industries because tptb think they know what is best(ie:tptb with all the money and the little people as slaves).



RIGHT ON!
This is bullshit. Obama is doing a great job keeping any potential investors away by constantly increasing the gloom and doom scenario. This is an orchestrated effort to gain control of banks and wall street so the PTB can dictate from their bully pulpit. This has been planned and is now being carried out by the NWO puppets. The sheeple allowed it to happen and now we are screwed.
 Quoting: Anonymous Coward 548500

You guys both get cee-gars....gov't approved cigars of course.
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Change Your Priorities

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02/05/2009 08:50 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
From my earlier thread:

Chula Vista, CA wants $1.5 million in the stimulus package to replace some tennis courts (which will create only 38 jobs), Austin, TX wants to build a frisbee court (didn't get the cost on that one), another city (Virginia Beach, I believe) wants 500k for a dog park (will create 7 jobs), "President" Pelosi wants $100k for new doorbells and $500 million to start a prostitute shelter.

That's for starters.

The only thing that seems even slightly important is, perhaps the prostitute shelter, however why support people doing illegal activity?

It seems to me there are some things that are way more important than this shite. This is ridiculous!
Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.
- Mark Twain
Anonymous Coward
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02/05/2009 08:52 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
As I was walking in the front door of Wally World last night a sign on the door read "Due to the demand on K-Y jell we are out of stock. Next shipment due the 1st of March". This is a good sign that people are really waking up and checking out this new stimulus plan and at least trying to prepare.
bbb
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02/05/2009 08:54 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
To much shit, and no one suckered into buying any of it.
Anonymous Coward
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02/05/2009 08:56 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I laugh every time I hear someone say "we been thru this before and well get out of it; we always do"

Well folk I doubt we will get out of this; these are the kind of events that change a country permanently.

It won't be long now and life as we know will be changed and the prophetic events will unfold as spoken of in the bible.

We are one single trigger event away from the ball rolling and God comes to see how you lived your life.

What do you think God will see inside of you?

Darkness or Light?
 Quoting: Follower of Jesus

stfu
Anonymous Coward
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02/05/2009 08:57 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
Wall Street and the Federal Reserve need to be shut down.They caused the problems and they need to go...
Anonymous Coward
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02/05/2009 09:22 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
do I have this straight? We are in dire financial / economic straights because we spent years on a spending spree financed by borrowing money we didn't have.

Right?

So to fix the problem we are going to go on a spending spree financed by borrowed money. Money that we don't have.

Right?
 Quoting: Anonymous Coward 608189



Yea. Right.

I agree.

In fact, I say DO NOTHING...let the market and the banks land where they will.

Quit bailing everyone out, quit promising them OUR dollars.

They're going to send us stimulus checks in the hopes we SPEND it all - which, if we're smart - we won't.

It's like they're betting against us - against our intelligence.

STOP THE MADNESS....

Just stop it.
Anonymous Coward
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02/05/2009 09:22 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
Wall Street and the Federal Reserve need to be shut down.They caused the problems and they need to go...
 Quoting: Anonymous Coward 608197



Yep.
Anonymous Coward
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02/05/2009 09:24 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I laugh every time I hear someone say "we been thru this before and well get out of it; we always do"

Well folk I doubt we will get out of this; these are the kind of events that change a country permanently.

It won't be long now and life as we know will be changed and the prophetic events will unfold as spoken of in the bible.

We are one single trigger event away from the ball rolling and God comes to see how you lived your life.

What do you think God will see inside of you?

Darkness or Light?
 Quoting: Follower of Jesus



the usa is bankrupt... and still printing 1 trillion more funny money.

and in 2012 2 years.... 80% of America will RETIRE.

You are smart.... figure it out.
Anonymous Coward
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02/05/2009 09:25 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
Obama is such a puppet.
Anonymous Coward
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02/05/2009 09:25 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
He warns about it then wants to inflate the money supply by 920 billion dollars, makes perfect sense.
Anonymous Coward
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02/05/2009 09:33 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
and in 2012 2 years.... 80% of America will RETIRE.
 Quoting: Anonymous Coward 554626

I'm wondering if these projections will be accurate. A lot of the post-WWII generation may not be able to afford to retire.
Anonymous Coward
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02/05/2009 09:33 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
do I have this straight? We are in dire financial / economic straights because we spent years on a spending spree financed by borrowing money we didn't have.

Right?

So to fix the problem we are going to go on a spending spree financed by borrowed money. Money that we don't have.

Right?
 Quoting: Anonymous Coward 608189



love ya!
Anonymous Coward
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02/05/2009 09:34 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I don't get it.

If I have 5K on my credit card, how is me charging another 10K going to get me out of debt?

Am I missing something here?
Anonymous Coward
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02/05/2009 09:38 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
bsflag

OP its just the same scare tactics that Bush used. Obama is doing the same to get what he wants out of it. Did the first stimulus work? Nope and neither will this one.
caleb_cane

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02/05/2009 09:45 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
he's speading more doom than GLP
Anonymous Coward
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02/05/2009 09:48 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
I think Bush already put the US in an irreversible recession/depression.
Anonymous Coward
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02/05/2009 09:51 AM
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Re: *** Obama warns of IRREVERSIBLE RECESSION! - "The Action Americans Need."
This dates back to the temple. Watch the documentary the money masters and it all becomes clear.

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