(CNN) - President-elect Barack Obama released a statement Friday regarding the news employers cut more than 530,000 jobs in November:
"The 533,000 jobs lost last month, the worst job loss in 34 years, is more than a dramatic reflection of the growing economic crisis we face. Each of those lost jobs represents a personal crisis for a family somewhere in America. Our economy has already lost nearly 2 million jobs during this recession, which is why we need an Economic Recovery Plan that will save or create at least 2.5 million more jobs over two years while we act decisively to maintain the flows of credit on which so many American families and American businesses depend.
"There are no quick or easy fixes to this crisis, which has been many years in the making, and it's likely to get worse before it gets better. But now is the time to respond with urgent resolve to put people back to work and get our economy moving again. At the same time, this painful crisis also provides us with an opportunity to transform our economy to improve the lives of ordinary people by rebuilding roads and modernizing schools for our children, investing in clean energy solutions to break our dependence on imported oil, and making an early down payment on the long-term reforms that will grow and strengthen our economy for all Americans for years to come," said President-elect Obama.
With the current issues regarding tha auto industry and the general lack of direction provided by the current administration there is an opportunity of epic proportion RIGHT NOW. IF the Govt. was to lay out a plan for the future of energy based on what they could force on the auto industry at this time in history I think you would see businessess invest in the new alternatives. They are not now becuase there is no coherent direction. IF the Govt. was to say that the auto industry would NOW start with hybrids that would by a certain date be REQUIRED to be fuled by diesel or hydrogen or LPG fuel sources (burned in the current internal combustion engine) this would drive investment in Bio Diesel sources. Diesel will be long required for OTR and Rail for years to come and long term this will decrease foreign source dependency. It would also put in place a need to provide hydrogen and LPG refueling stations. At the same time a mandate to Hybrid vehicles will simultaniously drive inovation in battery technology. Future mandates to Completely electric vehicles will be enhanced and will drive the plug in car and potentially the hydrogen fuel cell. The hydrogen fuel cell will than have the delivery system in place. These things can be phased in over YEARS. If the mandate is done and I would argue would be necessary it provides a time line and would than attract investers eager to make a stake in the technology.
One thing about capitalism is that if they KNOW they can make a buck it is amazing what they can do all by themselves.
Consider for a moment what this incoming president is inheriting from George W. Bush and what George W. Bush has inherited from President Clinton's administration. It has been said that George W, Bush inherited a 2-3 hundred billion surplus when he took office eight years ago, which suggests that Clinton at least kept the country in good staid for his replacement. Now, Obama will come into office with a ten trillion dollar deficit quite unlike what Mr. Bush was handed. It will not be cake and partying when Obama comes into office as a full blown fire and economic contagion has involved the White House as well as the rest of the economy. After a fraternity party is over, who wants to clean up? That is Obama's miserable task at hand. And it won't be pleasant!
You know, in my opinion, we have to mix it up. Create and let it grow by itself. Because if we do both at the same time or try to find what's the best solution, is gonna take time and a whole lot of effort to get it done and so forth. And that's when you don't want people to get ticked. Because either way, is gonna be our money investing for what we have in the present and moving so a payback can and only be expected, anything else is a failure. Job creation not only creates opportunity but accesibility but free market takes time and once people get comfortable and intuned, then everything will fall. yes is a gamble but the way I see it, we've been taking a gamble since 9/11 and now, I'm more paranoid than Nixon for crying out loud, LOL!!
Silly people, your current president has 8 weeks left in office and has done absolutely nothing and has not involved himself in any efforts for a solution to this mess. Bush hasn't done a d*amn thing all year and Obama is being blamed for everything. There can only be one president at a time and the one on duty stands on the sidelines.
The recent job losses are going to seem positively tiny compared to the devastation that will happen if the American auto companies are allowed to fail.
Right on !!!!
Give the man a chance to get in office. HE IS NOT THERE YET !
He needs the help of ALL of the AMERICAN people
Yes, let's "fix" the problem by stealing even more from the very people who do all the job creation.
THIS is why liberals should never be allowed in government... government can't solve economic problems but boy can it create them.
Hey, Barry! Take your hands off of my wallet.
I voted for Obama to fix the mess that Bush/Cheney and all the politicians have let happen. People need to pray for president Obama and his administration, not start blaming him. I find that all of you that voted for Bush not once , but twice want to blame every one else. Obama will not be able to fix this over night , but I am praying by summer things will start looking up for everyone. How about the politicians rolling back their pay until the recession is over ?
.. and what did our fearless leader George Bush have to say? Nothing.......
@ Concerned Texan....... thanks for your brilliant comment!!
So why are you blaming Obama for the mess he didn't create?
At least he has some ideas for cleaning it up. More than I can say for the current administration.
No mater what Every stage the problem God Help Obama. US People have fully trust to Obama. Obama Keep Going.
Uh, how can you create jobs when so many thousands were lost in November—historical election month for America???? Can't wait to see where all those jobs are coming from and who gets them over the next 4 years. Hurry up 1/20/12
the same way McSane would have created jobs or whichever loser you voted for, it took us over 8 years to get in this mess and now all of sudden people think Obama has a magic wand and can fix the mess all in a day! He does have a plan please allow YOUR president to swear in first.
It's been said this mess is similar to reversing course of a huge tanker at sea... which means that it takes the effort of every crew member... if that's the case how about this as a start to turning it all around:
BY THE END OF DECEMBER EVERY SMALL BUSINESS IN AMERICA HIRES ONE NEW EMPLOYEE... which means all those new hires will have cash to spend and confidence will begin to return....
THEN WE HAVE THE SAME GOAL IN JAN.... slowly but surely it will all get back on course.... what do you say AMERICA??
ARE WE READY TO FIX THIS PROBLEM OR WHAT!????!
"relax america and pray.
don't be stupid!!"
Yeah...good strategy. Relaxing and praying is all George Bush is good at.
Relax and kiss your job byebye.
Concern Texas I totally agree with you 100 percent. Time & time again Obama said this is not an easy task. He will have to clean up after the mess Bush left us in. He also said he is not PERFECT that there will be mistakes made. He is only HUMAN not the MESSIAH that some people wish. Jan. 20th the CHANGE will come and some people will get hurt from it. He can't pleased everyone. So please be patience.
I'm praying for President elect Obama to do the right thing for everyone in this Country. He has his work cut out for him. I'm reading the comments here and I now understand that the republican base is made up of uneducated white people, because a lot of you are really stupid!!! I'm losing my son the the military, because he can't find a job and he can't afford to go to college. My husband and I can't afford to help him. My family has been through hell for the last few years, losing our jobs, taking pay cuts in order to get a job. Deciding on paying the gas bill or buying food. Being told from welfare to quit my little job in order to qualify for food stamps. Praying none of us get sick because we have no health insurance. Seeing the rich get richer and losing everything we have worked for. I live in the State of Michigan we have been hurting for a long time. George Bush can't leave soon enough for me.
AND...... just watch Mr. Wonderful Obama have a BIG BASH of 45 million $ for his inaugeration!
He is one SICK PUPPY !
Wonder if he has ever made a decision on his own?
The campaign is over now Obama we need solutions!!!! I am afraid Obama is an empty suit. These job loses started way back in the 90’s when we opened “free trade” with Communist China!
Dear PROUD DEMOCRAT
Bush new home cost 2 mil..................gee, that is probably 40 mil less than Obama is going to spend on his inaugeration. Are you donating? He is STILL emailing me asking for money!
Good luck w/ Mr. "caring" Obama..................what a joke
CNN is one of my favorite places for news. I appreciate your coverage concerning the "Big Three Automakers in the U.S.". I know they make up 50% of the auto industrys' market in the U.S. Why hasn't there been any coverage on the structure of the foriegn companies that make up the other 50% of the U.S. market. What are their names? Do their governments subsidize them? If so by how much? Do their governments pay for their workers healthcare? If so what is the value of this? What are the other things thier govenment does for them to make them more competitive in our marketplace? What trade policies do those countries have with our country? What is the value of the trade indifference with those specific countries?
Your coverage of these questions makes up over half of the information the American public needs in making a decision regarding our "Big Three U.S. Automakers". I would greatly appreciate fairness in coverage and objective journalism practices when reporting the future of our/your manufacturing industry. Thank-you, Alan Hathaway P.S. Let me know when your coverage on this critical information will begin..
Give the man a chance to get in office. HE IS NOT THERE YET !
Lady, you are the " sick puppy " Stop letting your predjudice get in the way of the real world.
Thanks to who ever leaked the 45.% mortgage news. I am a realator, now those "very few" i had looking for a new home, are on the sidelines waiting for the new rate. Nice way to take care of "main street"
Whatever happened to Inauguration Day? Folks can't wait to blame Obama for anything, they're starting early. He's the President Elect, remember? The American people need to hold those accountable for this mess, ourselves for voting Bush into office not once...but, TWICE. Now he's busy sitting it out. We'd all be in a better place if his voters sat out election day in 2008. Give Obama a break, a chance, and a little patience. He's one man...
Can you imagine where America would be standing in the world & how prosperous we would be if President Bush even pretended to have one once of wisdom President Elect Obama has displayed?