In an evening news conference, Obama is expected to outline the case for healthcare reform as well as provide an update on what has been accomplished since he took office in January.
White House Chief of Staff Rahm Emanuel told The New York Times Obama intends to use the news conference as a “six-month report card,” to talk about “how we rescued the economy from the worst recession ” and the legislative agenda moving forward, including health care and energy legislation.
Rescued?
Federal Reserve Chairman Ben Bernanke, testifying before Congress for a second day Wednesday, says unemployment threatens to undercut the U.S. recovery. The unemployment rate, at a 26-year high of 9.5 percent, will likely rise to 9.8 percent to 10.1 percent by December, the Fed says.
Specifically, THIS IS WHAT OBAMA MEANS BY RESCUED!?
FOMC participants generally expect that, after declining in the first half of this year, output will increase slightly over the remainder of 2009. The recovery is expected to be gradual in 2010, with some acceleration in activity in 2011. Although the unemployment rate is projected to peak at the end of this year, the projected declines in 2010 and 2011 would still leave unemployment well above FOMC participants’ views of the longer-run sustainable rate.
Author of “Reparations and America’s 2nd Civil War
Reparations and America’s 2nd Civil War: Malensek, Scott: 9798864028674: Amazon.com: Books
I don’t think folks are buying what he has to say anymore: http://salesianity.blogspot.com/2009/07/oreilly-healthcare-craziness-and.html
Pfttt. I rescued the Titanic. Same deal.
If this is a “rescue” I’d prefer to fend for myself.
Thanks anyway.
And he is hiding the economics report because he just wants time to tell you how good it is, before you find out how bad he lied.
The economy is coming back, but I’m not sure anything the adminstation has done can be attributed to that. ARRA will not really start having noticable impact until early fall. Obama’s TARP vote would probably have more to do with the improvements than anything else. Ultimately ecomomies are way bigger than presidencies, which is why you don’t see me blaming last fall’s meltdown on Bush.
Fit fit, TARP was pounding sand down a rat hole.
ARRA was Tax Payer Cash sent to Obama supporters and has had the impact of pounding Dollars down Omaba Ratholes.
Recovery is Years away, Decades away because of totally reckless Government spending.
I know that because I balance my checkbook and run a real business that I own.
I have cattle and a hat. Obama has a tin Hat and no cattle.
The meltdown occurred because Democrat Rats failed in OVERSIGHT of the SEC, Fannie, Freddie and were corrupt and lazy.
Heh!
Next, he’ll be telling us that the tide is turning in Obama’s favor on health care.
Oh, wait.
I would like to know what is in those cigarettes he’s smoking. That whole White House staff must be using them too.
@Fit fit: The economy is coming back how???? Unemployment will be over 10% by the end of the year. More companies will close up shop and move overseas because of the the Manbearpig Bill if it passes the Senate. And if the travesty of a Health Care Bill passes it will be even worse.
So please tell me how the economy is on a comeback??????
And I do blame Bush for the total waste of money on Bail Outs, this is what started the downfall and the deficits that the next generation will be paying and the next few after that.
After only 6 months, I don’t care what this guy says, I don’t listen. Make all the lying speeches you want Obummer, we ain’t buying the snake oil.
poor fitfit didn’t read the post. Obama’s own Chairman of the Federal Reserve says the ECONOMY IS NOT RECOVERING, and it won’t until 2012. Warren Buffet said the same thing weeks ago.
Oh, but fitfit knows better (or is fitfit in denial/excuse-making mode)? Dunno. but I’ll go w Warren Buffet and Ben Bernanke over fitfit for now.
The Obama Debt Clock…
http://www.usdebtclock.org/
He Owns it Now.
No Scott, he said unemployment, a lagging indicator, will continue to rise. He said the economy has stablized with many big concerns (housing) still looming. You’re cherry-picking his comments.
Buffet is one of the people calling for a second stimulus. Are you really going to go with his opinion or are you just cherry-picking there too?
What started the downfall was the mother of all housing bubbles.
fitfit, please re-read the quote. He’s talking about output-not jobs. OUTPUT might level out and start “accelerating” in 2011. Later, he talks about jobs lagging behind output, and that puts the recovery of jobs into 2012. It’s not cherry-picking. It’s reading accurately.
http://federalreserve.gov/newsevents/testimony/bernanke20090721a.htm
As to Buffet, I agreed that the stimulus was a good idea-so did Repubs, and so did Buffet, but the “stimulus” we got wasn’t stimulus. It was mostly political kickback, and that’s why Buffet and economic leaders in the Obama Admin have floated the idea of putting us deeper in debt to get an ACTUAL stimulus package out there.
Try again fitfit, but there’s no way to put a happy face on Obama’s spending of trillions upon trillions for stimulus, a budget w 9000 earmarks and huge growth, $23trillion in bailouts that wouldn’t have happened without his pushing, and now stimulusII, TARPII, and socialized medicine (tally those up and tack on another $5trillion a yr).
Suddenly, the $600bn for 6yrs of war in Iraq+Afghanistan looks awfully cheap in terms of treasure.
The bit that really got me laughing hard today was Sen Dodd and Frank “demanding” to know why bailed out banks are doing what they’re supposed to after 2yrs. Gosh, who was doing oversight of those for the past 2yrs? Dodd and Frank. ROFLMFAO!!!
http://banking.senate.gov/public/index.cfm?FuseAction=Newsroom.PressReleases&ContentRecord_id=85d2b51b-f168-fb6f-d968-ab96dbfcb156
yeah, ’cause housing foreclosures going UP 15% is another sign of a recovering economy. As is the falling unemployment number, the rise in wages, and the decline in bankrupt businesses.
Dude, really, stop w the Koolaid. If Bush were President you’d be screaming that this is worse than the Great Depression. Really, if 15% unemployment in MI (25-30% estimated), and another 2-3yrs of rising unemployment there is recovering…what’s collapse? A Bolshevik Revolution?
http://www.usdebtclock.org/
Obama has done nothing but rescue his campaign contributors! Look at the shower of money that has fallen from the sky for groups like ACORN, unions and investment bankers.
I don’t see how anyone can say our GOP leaders aren’t fighting back. Here is House Leader Boehner’s response to Obama’s “rescue:”
@Fit fit: You should ask Barney Frank and the rest of the Democrats about that one. Bush tried to get a hold of Fannie and Freddy many times, but was stopped by the Democrats.
And Bush was the one that started this spending spree that will hamstring our economy for decades. Bush should have never signed that. It is his biggest mistake, along with NCLB and various other statist bills he signed.
Still if anyone thinks that the economy is is good shape and is on the rebound needs to get their head checked and stop drinking the cool aid. The Depression did not happen over noght and took at least a year of gooing up and down before it totally collapsed. And with what the Fed Gov is doing now is just repeating the same mistakes back in the early 20th century.
If we do not learn from history, we are going to repeat it.