January 13th, 2009
02:00 PM ET
11 years ago

Obama rallies support for bailout, recovery plan

 Barack Obama met with Senate Democrats for the last time before next week's inauguration.

Barack Obama met with Senate Democrats for the last time before next week's inauguration.

(CNN) - President-elect Barack Obama went to Capitol Hill on Tuesday to meet with Senate Democrats and make his case for how he wants to spend the second half of the $700 billion bailout.

Obama attended the weekly lunch of Democratic senators in what was his final visit to the Senate before his inauguration next week, according to the transition team. He also had been expected to push for his economic stimulus plan.

Obama has been making phone calls to senators asking for their support.

Some Republicans and Democrats said they were upset by how the Treasury Department spent the first allotment of $350 billion.

Full story


Filed under: Candidate Barack Obama • Congress
soundoff (58 Responses)
  1. NEL E BELL

    IS THIS A YES SIR WHAT EVER YOU SAY SIR CONGRESS OR DO THEY HAVE THE GUTS AND GRIT TO STAND UP TO THE PRESIDENT TOBE? NO MORE MONEY UNTIL THE TAXPAYER IS BRIEFED ON WHERE THE MONEY IS GOING " NO MAS", NO MORE MONEY UNTIL WE THE PEOPLE ARE GIVEN A PICTURE OF HOW THIS TREASURE IS TOBE SPENT PERIOD END OF STORY.

    January 13, 2009 02:53 pm at 2:53 pm |
  2. WELCOME TO THE OBAMA SHOW!!!!!!!!!!!!

    BECAUSE THE HOUSE AND SENATE ARE PREDOMINATELY DEMS HUISSAIN OBAMA WILL GET HIS STIMULUS PACKAGE APPROVED AND IT WILL FAIL!!!!!!!!

    I GUEST ONCE IT FAILS IT WILL BE BUSHS FAULT AGAIN!!!!!!!!

    THEN WHATS NEXT?????????

    January 13, 2009 02:53 pm at 2:53 pm |
  3. Debby, NJ

    I really feel that Obama will get things done!!

    January 13, 2009 02:54 pm at 2:54 pm |
  4. REDBUG

    Go President Obama. (drop the elect). He has done more before being sworn in then that BIG dumb bell bush.

    January 13, 2009 02:54 pm at 2:54 pm |
  5. bagman?

    What do you call an accomplice to a bank robbery?Paulson and Bernachi are planning their gettaway as we post.

    January 13, 2009 02:56 pm at 2:56 pm |
  6. chuck

    A MESSAGE TO PRESIDENT BARACK OBAMA---"NEVER SAY DIE" WHERE THERE'S LIFE THERE'S HOPE AND WHERE THERE'S HOPE THERE'S FAITH AND WHERE THERE'S FAITH THERE'S VICTORY.

    January 13, 2009 02:56 pm at 2:56 pm |
  7. Mike, Syracuse NY

    You don't give the keys to a pharmacy to a drug addict and then complain when he gets high. Barney Frank and the Democratic Congress appropraited the first 4350 million without setting any conditions and safeguards in place. Now they whine about how it got spent. Where was THEIR ovesight?

    January 13, 2009 03:01 pm at 3:01 pm |
  8. BS not Maverick

    Washington better get their act together and help our new President help us or they too will be voted out. America is sick and tired of the "Party "games. It is time to do like the rest of us and do your job.

    January 13, 2009 03:01 pm at 3:01 pm |
  9. Andy J, Upstate NY

    Obama's sales pitch:

    "The federal government has already promised over 7 trillion tax dollars in order to combat the economic crisis. Let me get another trillion. I mean, come on, its only another trillion ($1,000,000,000,000) dollars."

    Yeah, because when I am in debt, i go home and say to myself "Well, i'm in debt $10,000.... i guess the only way to get out is to spend another 10,000... heck, might as well just make it $50,000. Clearly, adding more debt is the way to eliminate it. Right.

    January 13, 2009 03:04 pm at 3:04 pm |
  10. REDBUG

    I meant to say Go President Obama. (drop the elect). He has done more before being sworn in then that BIG dumb bell bush did in the 8 years he has lived (off the tax payers) in the White House.

    January 13, 2009 03:06 pm at 3:06 pm |
  11. A Woman In California For Obama

    I don't know about this. People who incur debts knowingly without responsibility should NOT be bailed out. I am responsible for my own debts. No one is helping me pay off my loans. I will watch closely and see what happens with this. If this truly helps the economy great-but I seriously question that.

    January 13, 2009 03:06 pm at 3:06 pm |
  12. aware

    It would be nice if PEBO had a plan instead of a multitude of so called experts whispering in his ear! 😦

    Roll on 2012! We are in for a tough 4 years!

    January 13, 2009 03:07 pm at 3:07 pm |
  13. Greg Pottstown, Pa.

    President-elect Barack Obama went to Capitol Hill on Tuesday to meet with Senate Democrats and make his case for how he wants to spend the second half of the $700 billion bailout.

    Bipartisanship lasted as long as the election.So much for change.

    January 13, 2009 03:07 pm at 3:07 pm |
  14. Boston Irish

    How come he has to rally support for his plan? From what these posters are saying, he can get anything he wants without even asking for it. I'm waiting for his BIG PLAN on Israel and the Gaza mess. So far nothing from him but silence. He either has no plan at all or he's trying to think of a way to please both sides and I don't think you can.

    January 13, 2009 03:08 pm at 3:08 pm |
  15. TCM

    He's so great, already, that I think we should take that money and build a memorial, right beside Lincoln's. I mean, look at it, Seinfeld was a hit, and it was a show about "nothing." Why not have a president about nothing? It worked for Seinfeld for many years. Maybe we could have one of those mult-colored, communist looking posters, that spouted "Change," or "Hope," made into a marble statue...that way liberals could visit it, and bend down and kiss his...err...feet.....

    January 13, 2009 03:10 pm at 3:10 pm |
  16. Karen- Change is coming

    IF CONGRESS DON'T GET THEIR ACT TOGETHER, I will campaign in 2 years to get who ever up for re-election out. Congress sat on the butts and gave money to Bush w/o any preconditions, the least they could do is rally behind the new President to jump start this economy. I watched YOUR President Bush on TV last night... all I can say is so long and farewell.

    January 13, 2009 03:12 pm at 3:12 pm |
  17. t

    WHERE THE MONEY ??????????????????//

    January 13, 2009 03:14 pm at 3:14 pm |
  18. Daddy Warbucks

    Upset is being charitable. Where did it go? Are the banks sitting on it? Why are credit card interest rates so high? The questions go on and on. We need answers before shelling out any more dough to these clowns.

    January 13, 2009 03:14 pm at 3:14 pm |
  19. Bararck Obama, still just B.O.

    Same old, same old from Obama. Great words, no substance.

    Here's his plan...

    Use "our full arsenal of tools" to get credit flowing to consumers and businesses; (Ok, what does that mean???)
    Reform the oversight of the TARP program and other responses to financial crisis; (By doing what exactly????)
    Use "smart, aggressive policies" to reduce foreclosures; (What kind of policies???)
    Toughen conditions for recipients of bailout money; (How???)and
    Try to attract private capital and speed the end of bailout plans. (By doing what???)

    Where's the beef!!!?!?!?!?

    January 13, 2009 03:15 pm at 3:15 pm |
  20. Allen

    It's good to see Congress finally getting some backbone, even if it is just to show displeasure with the White House administration.
    Hopefully they will take up their responsibilities to be a check and balance; responsibilities that they forgot for the last 8 years.

    I'm glad that the Democrats are in charge of the reinvigorated Congress. Can you imagine the mess if Republicans were back in charge with Obama in the White House?

    January 13, 2009 03:18 pm at 3:18 pm |
  21. Beverly, NYC

    Please this time ask all bailout participants to keep these funds in a seperate interest bearing account. These institutions should be able to give an accounting of hou these funds are spent at a moments notice. Those who can't should be prepared to refund the taxpayer's money. If I can balance my checkbook monthly Chase & Citibank should have too as well. No one is asking them to lend $ to the same deadbeats who can't pay now but people who are employeed, with a good FICO should be also to get a low to buy a foreclosed home.

    January 13, 2009 03:18 pm at 3:18 pm |
  22. Dear Moderator

    Just remember if the ship goes down your coming with us.Rich men first,women, children and moderators get the last life rafts if there are any left.

    January 13, 2009 03:18 pm at 3:18 pm |
  23. Griff

    You were told "This Guy", would change nothing..
    Nobody will invest in America... Obama said he would Tax The Rich"..
    You say you have Caught one trying to get "His", your??? Money??? Into others control??? But So what. You have lost investors... Nobody has any confidence in Obama....

    January 13, 2009 03:18 pm at 3:18 pm |
  24. Bernie

    Recovery, yes! Further attempting to bail out the corrupt banking industry is throwing good money after bad. Might as well pile it up and burn it and the printing presses, if your going to do that.

    January 13, 2009 03:21 pm at 3:21 pm |
  25. Ric in NY

    Just great, another far left liberal who is going to spend us into oblivion. Obama is already looking like the next disaster to hit the USA. At least he doesn’t have the money to give away his big birthright entitlements and free checks to drug addicts and alcoholics. Of course, Obama and the liberals feel they are “victims” and I; the tax payer should care for them. However i dont think they are victims, i think they are friggin losers who have no sense of personal responsibility and those losers don’t deserve my hard earned money. I pray Obama is out in 4!!

    January 13, 2009 03:24 pm at 3:24 pm |
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