January 16, 2009
Posted: January 16th, 2009 09:27 AM ET
Barack Obama says his plan will immediately help the economy recover.
Barack Obama says his plan will immediately help the economy recover.

(CNN) – President-elect Barack Obama heads to Ohio on Friday as he tries to sell his economic stimulus package, a plan he says will immediately help jump-start the economy.

Obama will meet with workers at a factory in Bedford Heights, where he'll discuss the "American Recovery and Reinvestment Plan." Obama says the proposal will save or create up to 4 million jobs and invest in health care, energy and education, among other priorities.

The president-elect has yet to put a price tag on his recovery package, but observers have estimated it would be in the neighborhood of $800 billion.

While in Bedford Heights, Obama will sit down with CNN's John King for an exclusive interview.

The interview will air Friday at 6 p.m. on "The Situation Room," which begins at 4 p.m. ET.

King will ask Obama about issues he will face in the first days of his administration, including the economy and national security.

Full story

Filed under: Barack Obama • Economy


Simmy   January 16th, 2009 2:19 pm ET

To All The Negativity RE: My Beloved PE Obama:

#1
I realize that there is no moratorium on hatred, ignorance, and stupidity, but could you all please try and control the foaming at your mouths? It seems the more you all write, the more like fools you sound.

#2
Please stop blaming President-Elect Obama for being as intelligent as President Bush was.... Stop blaming him for being as well-liked and respected as PB was... Don't be cruel because he is able to cross all racial and party lines; while PB kept his government in a Republican cocoon.

He is truly a remarkable person. So, if you all want to blame someone, and continuously vent your anger; blame his Creator.

PEACE IS TRES CHIC.

Larry   January 16th, 2009 2:19 pm ET

Obama is an highly educated idiot,he and the people surrounding him are all idealistic clueless puppets,they say whatever the polls say is popular to say.When it comes to economics there concept of fixing things is to throw our money at the problem,and if there isn't improvement,throw more money at it.The media needs to start reporting all of the story now,quit protecting the "CHANGE ADMINISTRATION"and start protecting the people with the truth.

Viv, Utah   January 16th, 2009 2:08 pm ET

CNN is totally censoring me, I wonder why?

Larry   January 16th, 2009 2:00 pm ET

Throwing more of our tax money at every problem is not good management or business,it will just make our bad financial situation drag out longer than necessary .All that needs to be done is LOWER TAXES,that will stimulate the market for more home sales and get jobs back.

Wake UP America   January 16th, 2009 1:43 pm ET

to "Curious Debate" Gotta love the "Obushma."

It is beginning to sound like it and he is not even in office. He is blowing enough hot air there is no way it will be able to snow in DC on the 20th.

Hang on folks you are in for a ride with the snake oil salesman.......

abc   January 16th, 2009 1:43 pm ET

one last thing. reading and watching news from some first world nations, they are pushing forward huge stimulus package as well, it's the direction a country has to move to. obviously their experts believe this is part of the solution.
the well respected, knowledgeable economists globally all agree our 800 billion $ is not enough as a big portion of this monetary investment will generate more profit for us in the long run. hopefully we are not a nation of short-sighters and if we don't wish to see China becoming too dominating for us to handle, we need to jump start our stimulus ASAP with good oversight. Chinese government plans to forward another hundreds of billions in this coming April for their research, education, technology developments, not to mention the already running infrastructure projects in their states. we are... still here... doing political power wrestle games or bickering about the new administration (unofficially yet and did not contribute to the current economy problem).. as the ever-more-important stimulus plan lays on the cold, redwood desk. everyone is watching.

Tim   January 16th, 2009 1:42 pm ET

Obama is using his bake sale coorindating efforts to try to figure out what to do with the economy.

Tim   January 16th, 2009 1:41 pm ET

I've had much more experience than Obama on financial matters (and about the same on foreign affairs, I read the papers). Take it from me, Obama doesn't know any more about our economy than any somewhat intelligent person.

18 year old conservative, NJ   January 16th, 2009 1:40 pm ET

pat January 16th, 2009 1:06 pm ET

Please, Please, Please, all you people with all these complaints, Please come up with some answers!!
____________________________________________________
Ok. Here is a solution. Had we let the banks die out when they were failing, the profitable parts of the bank would have been bought up by banks that were doing fine. Same thing with AIG. The banking division was failing, but the Insurance division would have been bought up. That's capitalism. If there is profit to be made from something, it won't die. Now had we allowed that to happen, it would have sucked for those that lost money, but the FDIC would have insured them so it's not a huge loss. Had we allowed that to happen, all the unprofitable businesses that had the faulty mortgages would not be around anymore... nor would the faulty mortgages. Some other company would have bought the houses from the bank, because technically the bank owns them, and people could have negotiated with the company that just bought their house to work something out, because the companies would be buying these houses pretty cheap. Next, had we let that happen, banks would be able to start lending again because all of the faulty mortgages would have defaulted and would be of the way. Lots of people would have gotten screwed over, but economically, we'd be better off.

rena   January 16th, 2009 1:35 pm ET

To: 18 year of conservative NJ -

You can't drive something in the ground when it's already been buried. Bush dug the hole, dumped the economy in it, covered it up, and put a tomb stone it with the saying, " Thanks suckers". You want to talk about corruption, how about Cheney, Rumsfeld, Bush family, etc. One thing is for sure, Obama don't have to worry about killing the economy, the American people, or our soldiers; we have Bush to credit that too. So basically, Obama can only go up, we are already flat on your faces.

Wake UP America   January 16th, 2009 1:35 pm ET

"18 year old conservative in NJ" – Here, here!

To those concerned about waiting in bread lines, yes if we do they will be quite long. You know why.... because the government is discouraging sustainability among the citizens of this country – the government will give you an education, provide you with food, health care, and a job. Where will the motivation be to work for anything????!!!

Can you grow your own food? Not if the government has anything to do with it. Can you have your own cow for milk or beef? Not if the government has anything to do with it?

People beware and educate yourselves!

aware   January 16th, 2009 1:24 pm ET

Who can believe you PEBO? You do not have a record of walking your talk! :(

Griff   January 16th, 2009 1:17 pm ET

You will have to change a few Signs... Notice Boards whatever..
Not the "Seal of Government"... More like "The Imbecile"...

Viv, Utah   January 16th, 2009 1:17 pm ET

we will all wish they had spent the money on the military when the drug wars spill accross the border.

john   January 16th, 2009 1:08 pm ET

You want to improve infrastructure – spend the $$$ on nuclear power plants and the power grid. Lean, green, and the fastest way to energy independence. Jobs today and cheaper energy for tomorrow will be real help for private industry to pick up the industrial slack once they were completed. Less $$$ for terrorists and dictators is an added bonus. The best win-win-win situation out there.

TCM   January 16th, 2009 1:07 pm ET

What's with the skin color comments? Incompetence comes in all colors....including Obama's shade....I could care less if he were green, if he could do the job...that's what counts. However, he was elected into the most important job in our country, at the most difficult time, with the least amount of qualifications...by a group who has an agenda to destroy the American way of life.

pat   January 16th, 2009 1:06 pm ET

Please, Please, Please, all you people with all these complaints, Please come up with some answers!! because with out answers you sound foolish and the world is reading these comments and laughing at us smart americans dont you pople have any pride when you have a complaint you are supose to also have an answer. I have no complaints or answers but i know who dose have the answers so i do a whole lot of praying. For those who dont belive in praying just keep doning what you do and see if that well give you a good nights sleep!

abc   January 16th, 2009 1:06 pm ET

wow, people are so sarcastically sad and pessimistic. I comes first! government suppose to help the people without spending money and people are suppose to enjoy benefits without paying taxes. it's all about ME, everything for me and me only. this is how we got oursevles into this mess and if we keep blaming others instead of reflecting upon ourselves for some good, positive changes, it's back to square one. the government is an institution to keep our country safe and sound, and it's our own responsibility to serve our country. how many times have we (before asking what others can do for us) serve our country from social work to military? very center egoistic and this will never get us far.
bickering over party lines is another dumbfounded behavior we continue to cacoon ourselves so we don't need to look deep within ourselves of how lazy and irresponsible some of us are as a society. negativity is a road to nowhere... our current president, good or bad, is leaving and the new president hasn't even been sworn in and people already attacking from left to right. if this is how we Americans plan to stand up again from this recession or restart our great society, good luck. mocking is no medicine at a time like this. our government is a forest and we the people are the trees, the government reflects honestly of what the people behave. spending more than we get paid, the amount of food we waste that can feed many famine nations, polluting our environment because of our "whatever" attitudes, whining without disciplining... yeah, we are really the most cultured and sophisticated society. it's sad to see our great nation can no longer be the great leader of the world due to all these and many other reasons. so don't be scare when other nations rise before us after this recession because their people study hard, work hard, save money, be fiscal responsible themselves and no, they don't have much to live off but they don't whine about the least nor sit around and wait for help to drop from the sky.
we as a nation, a great nation should really examine ourselves individually at this unprecedented period, instead of dividing our nation and marginalize our society, how about coming together, have good will beginning with giving positive effort and selfless contribution to our nation.

Dan, TX   January 16th, 2009 12:39 pm ET

The estimates are that we will hit 15% unemployment and that we will see tent cities and bread lines. If Obama can avoid that, he'll be a hero.

Robin   January 16th, 2009 12:36 pm ET

Ever hear the saying, "I don't have any money, but I have plenty of checks?"

We can't keep throwing money at the problem. The banks need to do what they were given the money in the first place for. They need to start lending and they need to (forcefully if need be) restructure mortgages. That way, they still get a payment every month and consumers get to stay in their homes. Everyone wins.

Baze   January 16th, 2009 12:36 pm ET

I love these plans. Our country's economy began on the midwest rivers, and so it can be reborn. Most of these alternative energy plans are reliant on water, which means we may have finally found a way to make an otherwise dead economic sectors of the country relevant again.

Dan, TX   January 16th, 2009 12:35 pm ET

If I get any kind of money as a tax rebate, I plan to buy a new car. Would that help the economy? Probably not, it is just one car after all.

Debby   January 16th, 2009 12:35 pm ET

Rally support for a plan that isn't working, okay Obama. Boy this guy isn't even in office yet and he is tanking. Well after the 100 day trial if the economy doesn't move an inch toward recovery, Obama will sure have his historic moment as the best BS politican to get elected.

Ken   January 16th, 2009 12:34 pm ET

It amazes me how many ignorant people there are. So let me get this straight.

You guys want the government to fix the system and update America's institutions, but you don't want them to spend money on the necessary tools that fosters a good economy: health, education, etc.

You want corporations to create more jobs, but you to tax them more as if they have revenue to spend. So, why shouldn't they just move to a different country with lower taxes?

Lastly, who the heck are these "observers" who estimate this to be $800 billion.

Be patient and lend an ear for once. Unless any of you have any credible solutions, then please shut the trap.

18 year old conservative, NJ   January 16th, 2009 12:09 pm ET

a true american January 16th, 2009 11:22 am ET

some people hate obama is not because he is going to be president, is because of the color of his skin.
______________________________________________________
It's the race card again!!!

Oh I do love it so. Please tell me. When has anyone on here said Obama is incompetant because of his race. We are saying he is incompetant because he is spending 500+ billion dollars to create jobs and giving 250 billion dollars in tax cuts. We are saying he is incompetant because he doesn't know the difference between "creating" jobs and "saving" them. We are saying he is incompetant because not even a week after the election the Illinois governor who also comes from the Chicago political machine is up for corruption charges. We are saying he is incompetant because he is choosing lobbyists and former Clinton cabinet members to be in his cabinet instead of getting young blood and fresh ideas.

He is going to drive our economy right into the ground, and the media will have no idea who to blame since George Bush is gone.

demwit   January 16th, 2009 11:50 am ET

Can he bankrupt us...., yes he can!

question   January 16th, 2009 11:50 am ET

who will they blame now that bush is no longer there......

Bob, NY   January 16th, 2009 11:49 am ET

Rally Support!? With who, our newly elected band of drunken merry liberals!!?? Not likely.. No, the real questions is when and how big is the next socialistic package?

alvino   January 16th, 2009 11:46 am ET

The brightest economists representing both democrats and republicans support a stimulus package.

I am sure that Henry Miller, Roger PA, Rob, Amber, B.O., Lerner, Andy L and Florida John are a lot smarter than any learned economists.

john   January 16th, 2009 11:43 am ET

Only 4 million jobs!? Come on – at a price of $800 billion – that is $200,000 per job. If this is the best they can do – it is no wonder why they aren't in private industry.

RealityKing   January 16th, 2009 11:41 am ET

500 billion 2009 budget deficit
+ 350 billion of TARP
+ 825 billion bailout
---------–
= social liberalism at the expense for your grandchildren's hopes and dreams.

Obama change liberals believe in..

Duncan   January 16th, 2009 11:34 am ET

Giving people another tax rebate or refund is pointless. It will do nothing to stimulate the economy. This approach truly is 'more of the same' and I am disappointed in Obama for this part of the proposal.

torn up   January 16th, 2009 11:29 am ET

Stimulus package = taxpayer screwed.

Michael M, Phoenix AZ   January 16th, 2009 11:29 am ET

I understand that Arizona's Person of the Year, Sen McCain, plans on fighting the new stimulus package. Must be the taste of "sour grapes" in his mouth. McCain and Kyl are part of the problem for Arizona's lower than low educational position also.

Diana Ewing NJ   January 16th, 2009 11:28 am ET

Yes guess you are all correct, we should not support him, he should leave it up to the bloggers what to do... or all of us can doing nothing and hope we won't have to wait in line too many hours for a loaf of bread.

Outspoken   January 16th, 2009 11:27 am ET

Nice to get favors:

PEOPLE LIKE YOU SCARE THE HECK OUT OF ME!! You scold us lowly "civilians" for having the "audacity" to question the wisdom and authority of our so-called leaders. I have news for you: MOST OF "CIVILIANS" DO KNOW MORE THAN THOSE IN POWER! Why? Because most of us have done more with our lives than just "be a politician." It's because of "obedient little sheep" like you that our government is as screwed up as it is. You are the ignorant one. (And what "warm, fuzzy feelings" are you talking about? All I see is "denial.")

AndyL   January 16th, 2009 11:26 am ET

President of the people listen up, the people do not want bailouts. You want to bail them out, get Oprah and your rich buddies to cut you a check. Change you can beleive in, yeah right. It's more like change that will be rammed down your throat.

ranjit   January 16th, 2009 11:24 am ET

Pumping money into a system is not the solution to improve the economy. How about giving incentives to corporations? Like reducing the corporate tax by a marging of 5 % or 10%? How about reducing the capital gain tax by 5% and encourage people to start investing in stock market? How about removing some of the envirnomental standards like CAFE standards and improve more buying of US automobiles? How about cutting taxes across the board and not on just the lower income people who are not going to create any news jobs?

Government spending will never work and sadly with all these stimulus package, we are going to make this situation bad.

Florida John   January 16th, 2009 11:24 am ET

GO ahead and throw more money at it.

obama-mama   January 16th, 2009 11:24 am ET

Lerner @ NY
Barack Obama is still just B.O.
Amber
_____________________________________
You three are creepy trailer trash.

a true american   January 16th, 2009 11:22 am ET

some people hate obama is not because he is going to be president, is because of the color of his skin. I want people to remember that Bush did not do anything for us during his 8 years. now, we have someone who is trying to make our lives better, so some ignorant people are trying to make the guy look bad. Haters !!!!!!

Pat J   January 16th, 2009 11:19 am ET

Obama says the proposal will save or create up to 4 million jobs
-----------

Which is it: "create" or "save"? Big difference between the two!!!!!!!

TCM   January 16th, 2009 11:18 am ET

"No child left behind," means gifted are stifled, and cannot get ahead. Socialistic programs such as this, regardless of the creator, create a country of mediocre kids...and foreign students come over here and get the jobs! I don't believe in "dumbing down," our school system just to make people 'feel good," about themselves....

Obama's attempts to rally the country, well, as someone mentioned, the campaign's over, and so's the honeymoon. He's clueless about what to say next without a teleprompter....He's also the master of stating the blatantly obvious...."What we need are more jobs..." like...duh.....

All the "YES we can," "Change," "Hope," was a bunch of campaign rhetoric crap to get elected....now that he's there, he's a deer in the headlights...good job libs! YES YOU DID! And we're all going to pay dearly for the incompetent you drove to the white house!

PRAY for 5ft of snow and sleet on 20 JAN! YES WE CAN!

Nice to get favors   January 16th, 2009 10:51 am ET

I think it is sad how so many people come on these blogs and comment as if they have any idea what they are talking about. We civilians have no idea what goes on fully, I am sure history will paint the truth. Be it a positive or negative one, however making such hateful comments while having little information just goes to show how ignorant people are. You believe 1 person made everything bad happen? Really? Talk about a scapegoat.

I am very concerned for PE Obama. He is human, he is just a man and he has to work within the same system. He cannot possibly change as much as people are thinking he will, it is not possible. I pray that the warm fuzzy feelings do continue so he can get things done, I just see that people in that system are already turning on him and he has not even moved in yet.

Lerner @ NY   January 16th, 2009 10:45 am ET

Has anyone noticed the similarity of the words "Obama Biden" to the words "Osama Bin Laden"? Creepy.

Barack Obama is still just B.O.   January 16th, 2009 10:43 am ET

I don't believe there are enough prayers to save us from B.O.

Remeber these last eight years as they probably will be the best we have for the next 4.

Barack Obama is still just B.O.   January 16th, 2009 10:41 am ET

Obama, "Where's that next straw and is it within my grasp?"

Amber   January 16th, 2009 10:37 am ET

Ew..he makes me want to vomit. What happened to qualifications? Bush had none; Obama has none. Get a clue America.

Simmy   January 16th, 2009 10:32 am ET

Great Blessings-PE-BO!

Rob   January 16th, 2009 10:31 am ET

I see CNN doesn't want to steal any of the joyousness surrounding the coronation/ascension of the chosen one, so there's no mention of Bush's speech last night. But you can be dang sure that in 4 years they'll be covering Barrack's farewell speech. And Wolf, and Chris Mathews, and Keith Ohberman will all be huddled together, crying and too distraught to carry in.

History will prove the libs and the media so wrong on this. 50 years from now, college political science departments will analyze how Bush managed to keep the US safe, despite a bitter and clueless public and mainstream media. And how the media elite, pompous Hollywood stars, and brainless libs painted a picture of an America and an administration that wasn't true. Journalism students will look back at 2008-2009 as the death of true journalism and the birth of sensationalistic leftist inspired, opinionated tabloid journalism that was the deathnell for the major news networks and newspapers. MSNBC will be referred to as the model of how to ruin a cable station. And "Where Are They Now" programs will have specials on the downward spirals that were the careers and lives of Chris Mathews and Keith Ohberman.

By then the REAL Americans will have realized that these know-nothing, hate-filled lib kooks do not speak for the REAL America, and they will have fought back and exposed these freaks for the know-nothing liars they really are.

P.S. Obama may or may not rank with Jimmy Carter and Millard Filmore as most ineffective presidents, we'll have to see.

Roger PA   January 16th, 2009 10:29 am ET

I keep hearing the phrase "to big to fail". The Titanic was considered "to big to fail". I think we all know how that turned out.

Pumping money into these failing companies is the equivalent of standing on the deck of the Titantic, piling concrete blocks onto it.

Even then, people had the sense to get off the thing.

Henry Miller, Cary, NC   January 16th, 2009 10:28 am ET

Of course Obama wants to "rally support for his stimulus plan"–like all politicians, Democrat or Republican, he just loves spending–or wasting–other people's money.

The only thing this monster-scale giveaway is going to stimulate is inflation, a rise in tax rates, and the probability that the dollar will collapse.

LIP   January 16th, 2009 10:26 am ET

If Obama truly wants to heal this country from the many wounds it has suffered, then he should give credit where credit is due. He should praise Bush for his No Child Left Behind programs that have changed the way we approach education, the work that was accomplished in the wake of the Katrina destruction of New Orleans, the changes in Medicare that have helped the elderly with both hospital service and prescription drugs, the beginnings of Homeland Security that did not exist before Bush and the billions of dollars given to Africa to help stem the spread of Aids and also the advances made in treatment of Malaria and the millions of lives saved, mostly children. He would do well to praise also the eliminatin of a tyrant that was killing his people and his neighbors while threatening the worlds supply of oil...all of these things happened during Bush's administration. Thank you George W. Bush!

Ray Fisher   January 16th, 2009 10:22 am ET

President Obama has done a magnificent job during the transition much better than many could have accomplished. I sincerely hope that the "stimulus", "bailouts", "rebates", "incentives", etc... come to an end very soon. I feel America can recover faster and better by simply saving all we can and providing that money as capital for loans to feed the economy. Any business entity which cannot turn a profit with our current low interest rates cannot be considered a viable business entity but an bottomless pit sucking the life out of the economy. The time for bailouts has ended and the time for recovery must begin. If businesses fail, they will be replaced with new businesses as the demand still remains. America must insist that we first install new business guidelines and regulations and stop the endless merry-go-round of bailout measures!!!

RGR   January 16th, 2009 10:22 am ET

This is another opportunity for the congress to steal more money from us between prince Reid and Madam Ali-Baba Pelosi, we are facing a uncontrollable government expending, that the only jobs to be created are in construction (open the borders) and millions of dollars of pork, for the benefit of few, and congressmen. The more I see of him the more I realize how incompetent he is, and he has not done anything yet, the only he has done is to fill his cabinet of musical chairs, Chicago Mafia types to Tax cheaters, and now is promoting unions and government intervention. I have never seen any more press manipulation and cynical – History will tell!

Jason in cincy   January 16th, 2009 10:19 am ET

Now it's 4 million jobs??? This guy is still on the campaign trail – he'll say anything to make you believe in change.

Curious dude   January 16th, 2009 10:16 am ET

Rally support for stimulus? That's the same thing Bush did and he was calling McCain the same? How about Obushma

obama-mama   January 16th, 2009 10:03 am ET

Yes we can....

Comments have been closed for this article

subscribe RSS Icon
About The Ticker

The latest political news from CNN's Best Political Team, with campaign coverage, 24-7. Sign up for our twice daily Ticker emails. Got a news tip or feedback? For complete political coverage, bookmark CNNPolitics.com.

CNN=Politics Screensaver

CNN=Politics ScreensaverTap into the power of The Situation Room. Download this powerful new tool that keeps you posted on the latest political news from the campaign trail.
Download (4.1 MB, PC only)

twitter
@PrestonCNN: RT: MMStewart Just posted: Top Dem explains slavery remark, doesn't apologize http://bit.ly/6KEGM3
Updated: Tue, 08 Dec 2009 19:27:32 -0800
hambypCNN: Steele and Kaine square off on health care, jobs, and Steele talks (a little bit) about his new book ... http://bit.ly/6kbvKz
Updated: Tue, 08 Dec 2009 16:37:59 -0800
@HornickCNN: White House to government: Continue to open up: http://bit.ly/6SC11i
Updated: Tue, 08 Dec 2009 16:07:15 -0800
hambypCNN: Michael Steele has a book coming out in Jan. Asked about it on CNN, Steele demurs: "Ya, that's what I'm hearing somewhere down the line."
Updated: Tue, 08 Dec 2009 15:52:08 -0800
hambypCNN: @DanDoranBlum nice. hopefully you get two big wins over Pitt in one week.
Updated: Tue, 08 Dec 2009 14:42:32 -0800
Categories
Powered by WordPress.com VIP