January 5th, 2009
09:05 AM ET
9 years ago

Obama plans big economy speech Thursday

(CNN) - A senior democratic official confirms the president elect is planning a major speech on the economy Thursday.

Filed under: Candidate Barack Obama
soundoff (134 Responses)
  1. adam

    Just sit back and let this thing get moving, everyone with the brilliant ideas on this blog have NO REAL ideas , just critiques. This is the president the AMERICAN people voted into office, lets get behind this guy and be TRUE AMERICANS, the time for bickering and what if's are over. Remeber that being Republicans and Democrats instead of being AMERICANS is what got us into this MESS and we wont get out of it doing the same garbage and hating one another.

    -Adam T.

    January 5, 2009 10:10 am at 10:10 am |
  2. obama-mama

    Kevin-PA – Obama is just outlying his plans. There is nothing he can do about the issues you stated.....WTH

    January 5, 2009 10:12 am at 10:12 am |
  3. Dan Kuzniar

    Someone said "the speeches are over"... now it's time for everyone to roll up their sleeves. The leadership we have chosen will pave the way, but it will take a concerted effort by all to make sure these plans are implemented properly.
    The stimulus package should way heavily in the mortgage sector.

    January 5, 2009 10:13 am at 10:13 am |
  4. CR, Philadelphia, PA

    Thank God Obama has a hold of the purse strings now. Have you seen Obama's shoes. We will not spend one red, white and blue penny that we don't need to spend.

    God Bless America and our pocketbook, too!

    January 5, 2009 10:14 am at 10:14 am |
  5. MaryanneAZ

    In case we've forgotten, this is the role of a President - to inspire and lead a Nation. We've not had this from our President in 8 long years. Obama's greatest strength is his ability to inspire and motivate people to take up the mantle and follow his lead. There are over 69 million people who did just that and voted for him. Thousands worked around the clock to get him elected. If our PE can inform, inspire and lead us out of this economic mess, then I'll be hanging on his every word. I'm very impressed with the plan to have a reverse layoff measure built into the corporate tax relief plan. If firms re-hire laid off employees, then they'll get tax credits. What a great idea! Companies need incentives to re-hire the American workforce and get our economy moving forward again. I think we're going to be very impressed with our new President if we can let go of our election disappointments and focus on the future of our Nation. Donate to a local food bank today. Make a difference!

    January 5, 2009 10:14 am at 10:14 am |
  6. Ray Fisher

    I'm hopeful that President Obama's speech will include announcing our new Hydrogen Economy, replacing all gasoline automobiles with hydrogen fuel cell automobiles by 2020. This move would boost our economy by injecting $trillions in the form of new automobiles and related infrastruture maintaining American funds within our economy plugging the empty hole of OPEC and spurring entrepreneurs and innovation. By simply announcing a shift and a goal away from our oil based economy with a specific direction it will generate an economic boom not seen in over 100 years. Now is the perfect time as American auto companies are failing to provide an avenue to retool making fuel cell autos with less parts, zero-emissions, less maintenance overhead and greater flexibility within the industry. America in short could use a new super-project to boost our economy, our manufacturing industries and our morale!!!

    January 5, 2009 10:14 am at 10:14 am |
  7. Rick in WA

    David you are wrong. Tax cuts always help the economy IF they are accompanied by spending cuts. It really is not the Federal government's job to "invest" in schools and roads. That is the job of the State and local governments. The Federal government's job is to ensure the national security, provide for smooth commerce between the States, and negotiate treaties with other nations. Trying to manage the affairs of 50 states and a couple of territories centrally is simply not efficient.

    January 5, 2009 10:15 am at 10:15 am |
  8. AJ

    And the talking heads wait with bated breath, hardly able to contain their adoration...

    January 5, 2009 10:15 am at 10:15 am |
  9. MaryanneAZ

    Sweetie, if Conservatives had any answers to our problems, then they would have been elected. You're hoping for something that is not going to happen. Right now, we have an incoming President and a new administration. If you find someone who shares your values, then get behind that candidate in 2012 and help her win the election. Until then, help or get out of the way! Criticism and cynicism has never solved anything. Donate to a local food bank. Make a difference!

    January 5, 2009 10:16 am at 10:16 am |
  10. SAD SAD

    For those who are stil living in the Prez Bush era of lame duck where everything got to metldown b4 any move. This is a new administration coming with the smartest economic brains in the world. I dont know about the conservatism and dont spend wait till we all fail strategy of the GOP. The GOP are stuck in the past and they will never take responsibility for anything. pork barrel or beef barrel they ran this country down for 8 straight yrs of supposed "CONSERVATISM" This country need to jump start and move on. All over the world everyone is trying to jump start their economy by spending for economic recovery...here we see the GOP brain deads saying its big Govt. Big spending..not suprise at all.

    January 5, 2009 10:17 am at 10:17 am |
  11. god bless the us

    So Obama is going to issue a statement. That's pretty cool. Though it is a speech, he is at least going to inform the public of the seriousness of the current situation, what he plans on doing, and what the public should expect to be his next course from action.

    It's like a mini state of the union.

    If obama will become anything, he will be the most "open to the public" type of president.

    Oh btw, asking for divine intervention to rescue the economy is just as ineffective as asking for divine intervention to help mccain win. The economy is going to be solved by the good works of man helping his fellow man in god's teachings.

    Remember, this collapse was 8 years in the making with spend spend spend conservative policies. Not to mention the tax cuts for the rich that rewarded them for moving over seas or lay off workers. Not to mention the millions made in raising gas prices where the typical worker had to stave off purchases just to get gas.

    People keep thinking that by pouring money into the top it's going to somehow trickle down to the common consumer. Well it doesn't work. You can bail out, give tax breaks, create corporate welfare and ask big companies to hire more and output more product, but if the average consumer is too poor to afford their product it's not going to help one bit.

    January 5, 2009 10:18 am at 10:18 am |
  12. Ms. Williams

    All I have to say in response to all of your comments is BUSH! Whatever Obama does will probably have us a lot better off than how BUSH is leaving us.

    January 5, 2009 10:19 am at 10:19 am |
  13. NEL E BELL

    swell, he going to tell us things suck and he can fix it with a ton of money.Fact, the money he is going to spend is another loan, he calles it investment but, thats like George Bush, telling us lets go fight a war on the credit card.I don't care how he packages this loan, our children will pick up the tab on and even higher debt on their future. One question I'd like to ask him is this, If the stimulus plan doesn't pan out, what comes NEXT. I'll venture and answer. The Republicans will let him spend like a teenager with and inheritance so they look like fiscal conservitives in four years. 😉

    January 5, 2009 10:19 am at 10:19 am |
  14. Rufus - Atlanta

    It amazes me the comments in here. You all dealt with with 8 years of Bush terrible performance and running of our country! U.S. is now a shameful nation around the world! Bush tried to get rid of medicare, we're in a recession, our troops are still in IRAQ and still we have no reason why, but to use some lame excuse about protecting our freedom when they should be at home protecting our freedom! Yet you all won't give Obama his first 100 days due??? WOW! He's inheriting George Bush's MESS, so give this man a chance please and know that this MESS isn't his fault!

    January 5, 2009 10:24 am at 10:24 am |
  15. Dan in Michigan

    Wow...such negativity. May I remind everyone that since he's not president yet, he can't actually DO anything...thus the speech to prepare everyone for what he WILL do.

    Also, I do seem to remember for those that know history the colossal mistakes made by Hoover to sink us further into depression and how FDR's New Deal helped eventually pull us out(with a final jolt from WWII). Also, if you don't think his plan will work, may I hear your suggestion for a better one?

    Otherwise, it sounds pretty good to me: pay for projects that are ready to be worked on thus giving companies work whom in turn now have money to employ people and purchase raw goods. The people, when employed, will have money to spend on consumer goods. With increased spending on consumer AND raw goods, major sectors of the economy will be stimulated pulling us slowly out of recession. And in the meantime, no tax cuts for any millionaires who don't need them! Sounds pretty good to me! But like I said, those with better suggestions are welcome to step forward. Since the PE has brought people on his team from all sides of the spectrum, I'm sure he's hearing plenty from the right on their ideas too.

    Is it just me, or is that a BIT of a step forward from just standing there and saying "I'm the decider"?

    January 5, 2009 10:25 am at 10:25 am |
  16. William A. Schaedler from St. Louis

    I see the corruption has started in this prospective administration. I am referring to Richardson's withdrawal. You can kiss the good old USA good-bye. Here comes Darth Vader.

    January 5, 2009 10:25 am at 10:25 am |
  17. Joanna

    We need his leadership. There has been a serious lack of it the last 8 yrs. Thank goodness the adults are home again. Party is over, sense will be restored!

    January 5, 2009 10:28 am at 10:28 am |
  18. karen-phoenix

    Obama has the best of best working on the economy and he truely knows what he is doing!!!! Read "Audacity of Hope". The man is brilliant!!! We, the American middle will be renewed!!!

    January 5, 2009 10:31 am at 10:31 am |
  19. carol

    What a load of doom and gloomers on this site today, give PE Obama a chance for God's sake, he's not even in office yet and already he's being demonized!!!!
    Hell, we endured 8 years of Bush and his mess....give the man a break for heaven's sake, lets see what he will do and stop being so negative about things that have not even happened yet!!!!

    January 5, 2009 10:33 am at 10:33 am |
  20. TexAnnie *-*-*-*-*

    Sweetie, yeah your "brilliant conservatives" are what got us into this mess in the first place. Pray all you want, but it's going to take action from our government to get something done. BTW, a similar plan is what saved this country from the last great depression, so do a little research before condemning something you obviously know nothing about.

    January 5, 2009 10:38 am at 10:38 am |
  21. Joan in Raleigh

    I feel like, lets give Obama A chance to get in the white house, before we start , commenting on what he should do and not do, He is walking into A mess, and I hope the American Public is not expecting him to change things overnight, It took years in the making on why we are in this mess, and Its going to takes years to turn this thing around. My faith is not on what Mr Obama can do, Its is what we are going to do to change our situations, ours life, our childrens futures and Generations to come, 1 man cant do it all.....so Lets just give Him A chance, and stand by his side, and wish him the best.
    cause If you Listen to his speech that night, Its is going to take all of us.......

    January 5, 2009 10:39 am at 10:39 am |
  22. Laverne

    Oh Sweetie.......that's the problem, the republicans have not come up with a better solution so far and will not unless it is someone elses idea that they steal. Obama is giving a speech to the American people so they can hear from a LEADER, because our current president is under a rock. If you really want to do something with all that negative energy trying praying for your leader, I am sure that is too sensible for most of you. Please get over yourself, Obama is the 44th POTUS and you should get use to it. Thank God Obama has tough skin or else he would let some idiots like the ones who post on this site get the best of him!

    January 5, 2009 10:39 am at 10:39 am |
  23. 18 year old voter from Jersey

    David, the trick to his 40% tax cuts, is he'll be giving them to those in the lowest tax brackets, meaning those who pay minimal to no income tax anyway. Wanna know what 40% of nothing is? NOTHING!!!

    don't worry. He'll increase your taxes =)

    January 5, 2009 10:40 am at 10:40 am |
  24. Sanity has returned

    We need spending cuts as well as tax cuts. No pork or special projects for cronies. We need long term jobs programs. Rather than road projects, how about light rail projects to reduce traffic? Good Luck Obama, I have a feeling you are going to need it. Look for road blocks in Congress on both sides of the aisle.

    January 5, 2009 10:43 am at 10:43 am |
  25. Robin

    It's time to stop talking. You won Mr. President. Now is the time to get to work and live up to all of those promises you made.

    January 5, 2009 10:43 am at 10:43 am |
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