NEW YORK (CNNMoney.com) – In a final push before the House votes on an economic stimulus package, President Obama said Wednesday that the country needs immediate action to solve rampant job loss.
Obama spoke after meeting with a dozen CEOs including Sam Palmisano of IBM and Dave Cote of Honeywell.
"The businesses that are shedding jobs to stay afloat ... and all those who live in fear that theirs will be the next job cut - they need help now," Obama said from the White House. "They are looking to Washington for action - bold and swift."
@Maggie in NY January 28th, 2009 2:32 pm ET
You're forgetting that the republicans in the house voted AGAINST the original bailout until $100 billion in pork was added!
Actually the majority of Republicans STILL voted against it, even with the pork. As it turns out, they were right, since no one can say where it went or if it's helped. Want a repeat with $825 billion? No thanks. There's actually a growing sense among economists that doing nothing may work best of all. Painful in the short run, but much better in the long run. Poorly run companies fail, well run companies take their market share and grow.
Why can the government stop talking about bail outs and just wave federal payrol taxes for 1 year and stop withholding social security for 1 year. The economy would recover just fine.
it’s simple the more money people have = the better they feel about spending and the economy
when people spend money our economy is healthy
I am so sick of hearing the government say it was urgent to bail out a bank and then the bank ceo goes and refurbs their office and buys a jet. Am I the only one who gets it??
Seriously? 20 million to resod the National Mall? How in the world is this supposed to "excite" the economy? 20 million, what a joke.
cnnnewser, I also think our country is on the way down and I think it is a direct result of what government is doing. Supporting our president in this spending bill is like loading the gun for your executioner. When will you people realize that government makes the problem and then offeres a "solution" to that very problem? The free market isn't sinister or greedy. It is what it is. Freedom. Free to make your own decisions about how to spend your money. Government is the radical element in this equation. Government is the cause.
why wasn't a lot of you professional economic professer around ,when bush put more money into a war that had no sense? why can't we let our president fail with his judgement?why don't you think giving money to people who been ripped off by the capitolistic people in power ,feeding only on greed of wealth.? there's no more money, i'm broke.
Maryann Rose, you are wrong about Acorn. They had a DEMOCRAT Representative on the news this morning, pro everything democrats want and she confirmed that they ARE giving money to Acorn. Her reasoning was that it was a good thing, because they would help people stay in their homes via counseling with regards to mortgages resetting at higher rates.
to Don't Blame Me....news for you! We're already in a financial depression and yes, its all Former Pres. Bush's fought....two unnecessary wars and tax cuts for the RICH! But I bet you're already blaming it on Pres. Obama.....no way, no how!! Call your congressperson and urge him/her to support our new President and vote for that stimulus passage before you're homeless!
Congress rushed to pass the financial bailout and what happened? No oversight and no accountability meant corruption and foolish spending. Most items in the stimulus package are just padding for government projects. Congress is trying to pull the wool over the eyes of Americans. Nothing to stimulate the economy except maybe $600 million to replace older cars may help the automobile industry. Many Americans are losing their jobs and experiencing tough times. Our legislators should be taking in the government’s belt a notch or two, not letting it out. There is need for some projects but to disguise them as a stimulus for the economy shows just what liars we have in congress.
People, wake up and learn the truth!
This stimulus package is all pork and my senators and representative who vote for it won’t get my vote in 2010.
I THINK IMPEACHMENT FOR REID AND PELOSI IS IN ORDER!!!
NH NAM VET
Has anyone really read the stimulus plan? How could anyone say what's in it and what's not. This plan will need a healthy combination of spending and job creation. That tax thingy will on work for a few, however, how are you going to reduce in taxes for the now over 81,000 people laid off over the last couple of days? I'll bet cutting those taxes will help them get jobs! NOT! It has to be well rounded, maybe even include some of the Republicans tax cuts (for those with jobs).
When will our representatives in Congress look out for the American people, who elect them, as opposed to big business, who fills their pockets? I hope Obama is above the corruption, but who knows, only time will tell...In the meantime, I support OUR President, who seems to hard at work, TRYING to do something to solve the country's problems. Too bad we have so many people wanting him to fail. His failure = America's failure, AND WE'VE FAILED FOR THE LAST 8 YEARS!
Get the politics out of it. Let us see your true skills and designing a winning economy.