January 28th, 2009
11:53 AM ET
11 months ago

Obama: 'We don't have a moment to spare'

President Obama spoke after meeting with a dozen CEOs.
President Obama spoke after meeting with a dozen CEOs.

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."


Filed under: President Obama
soundoff (212 Responses)
  1. David

    I think the American people are starting to realize that the Republicans are going to make each step for economic recovery a very difficult one for President Obama. They continue to vote in the opposite direction at every turn, thus, letting the American people down again. I hope American voters wake up and remember these Republicans next time they see their names on ballots.

    January 28, 2009 12:28 pm at 12:28 pm |
  2. FreeNLovIt

    All the businesses need to stop being greedy and to think of us before they think of anybody else and everything will fall into place. For eight years, under W's leadership, they have had tax cuts and they could do whatever they wanted under the sun. The solution isnt to throw people out of the companies. The solution is to keep people hired so that they have money to BUY, BUY, and BUY and BUY. We are their #1 buyers in the world. Companies to make sure they keep people employed and everything will fall into place. Minimum layoffs are the solutions, not the answers.

    January 28, 2009 12:29 pm at 12:29 pm |
  3. Diane Dagenais Turbide

    They are looking to Washington for action — bold and swift."

    Between Looking and actually getting there is quite a distance that still exists in politics to actually see any difference!

    January 28, 2009 12:30 pm at 12:30 pm |
  4. Ian

    Most of this money isn't even going to be spent this year. I'm not sure I'd call that "swift".

    January 28, 2009 12:31 pm at 12:31 pm |
  5. Sharon Kitchen

    Obama is correct.
    If anyone still has any doubts.......read the news.

    January 28, 2009 12:34 pm at 12:34 pm |
  6. Brian G, Sugar Land, TX

    Since we have so litle time, how about just sending each American citizen (no corporations!) a check for ten thousand dollars. I promise you we will spend it and stimulate the economy.

    300,000,000 * $5,000 = $1,500,000,000,000

    Cheaper in the long run than the other stimulus packages!
    And the market place decides who stays and who goes.

    January 28, 2009 12:35 pm at 12:35 pm |
  7. Brian G, Sugar Land, TX

    Opps, I meant five thousand dollars...

    January 28, 2009 12:35 pm at 12:35 pm |
  8. katiec

    The grandstanding has to stop and getting our country on the road to recovery must begin.
    The first priority of all politicians has to be our survival. Every day the crisises deepen, and yet, there are those who ignore the urgency.
    There will be changes to the final stimulous package, hopefully, the less thought out eliminated, but we have to get moving.
    It is not a political game, it is to bring our nation back to stability,.

    January 28, 2009 12:36 pm at 12:36 pm |
  9. AL

    Of course we don't have a moment to spare....we are very near to the TIPPING POINT !!!!

    January 28, 2009 12:37 pm at 12:37 pm |
  10. Huh?

    The proposed solution?

    Raising middle class taxes. Since when is 75K a year "upper class" America? Try living in a city on that salary. 75K a year was middle class in the 80s – inflation/cost of living has not gone DOWN! All this does is push middle class into the lower class which creates a greater divide between the "haves" and the "have nots." The lower class statistically votes Democrat, coincidence?

    Handing 500+ billion to construction companies and labor lobbyists. How does propping up inefficiant corporations benefit America? The Japanese use modular building construction that allows a team of 50 to build skyscrapers. Meanwhile we want to shovel billions into the pockets of labor unions who have 8 people supervising the work of 1. Labor overwhelmingly supported Obama, to the tune of hundreds of millions of campaign contribution, another coincidence?

    Giving more money to medicare and welfare programs. Why should we make unemployment attractive? Dont we want unemployment rates to go down? An entry level retail job pays LESS than unemployment. People that live off of welfare vote for Democrats, more conincidence?

    You tell me.

    January 28, 2009 12:37 pm at 12:37 pm |
  11. ray

    i wish i can wake up one morning and see the news that all racists republicans are been destroyed.

    January 28, 2009 12:38 pm at 12:38 pm |
  12. John NC

    What happened to Obama's promise that seniors making less than $50k would not have to pay taxes????????????????????

    January 28, 2009 12:38 pm at 12:38 pm |
  13. Mike Dallas

    At least Obama will be on record that he warned all the obstructionist repubs that his economic advisors said time was running out.

    January 28, 2009 12:39 pm at 12:39 pm |
  14. ray

    i hope that all republicans be out of gongrees nest year and after.

    January 28, 2009 12:39 pm at 12:39 pm |
  15. Debi

    "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,"

    I bet not one of these CEOs took a pay cut. I also bet not one of them thought about the fact that people can not spend money to buy their products if the people do not have a job to purchase the product.
    I wonder how many of IBM jobs have been outsourced overseas?
    I wonder if there is going to be something in the stimulus bill that will protect the American people by actually keeping the jobs in America and not just allowing the companies to outsource jobs (i.e. telemarketing, technical support, programming, manufacturing).

    No more outsourcing, that is one of the biggest stimulus this country needs.

    January 28, 2009 12:40 pm at 12:40 pm |
  16. garin

    Although Obama had tons of counsels from his venerable economic team, certain pork projects as resodding the national mall, and enhanced investment in the infractures would likely win the hearts of many. His ratings and chances of his economic plan winning will be vastly improved.

    January 28, 2009 12:40 pm at 12:40 pm |
  17. Shari, NY

    The current job loss situation is the worse I have seen. It is very heart rending to see young, qualified professionals with a zest for life spending time in search of jobs which remain elusive. What will happen to the Class of '09 and how will college loans be erased?

    January 28, 2009 12:41 pm at 12:41 pm |
  18. Meka

    Congress holding up production - answer to this:

    CONGRESS TERM LIMITS . . . 12 YEARS, NO RETIREMENT

    TAXPAYERS WILL BE THE ONES TO BENEFIT!

    January 28, 2009 12:42 pm at 12:42 pm |
  19. Dems be dopes

    How about this for starters?

    Assuming the math supports this...

    Give every legal taxpayer, that means you actually had to pay income tax, and not be a sucking hole that paid nothing, but want some back anyway, $1,000,000

    30% goes back to the Gov't as income tax, that keeps the Dems happy, they have tax $$ to reward top folks that don't want to work, but will vote for them.

    Americans, being Americans will spend or invest the rest in the economy, that keeps the Repubs happy and they get votes. The new spending will generate more tax dollars for the Dems, since they never have enough.

    Of course the enlightened from both Parties won't go for this as they are much smarter that we are and will never trust the American people with their own money.

    January 28, 2009 12:44 pm at 12:44 pm |
  20. kenny lane

    There is a way to fix it–1 is to get the illegal aliens out of the country–2 to make the corporations hire americans instead of hireing foreign workers 3 make the companys that moved their operations OVERSEAS bring them back to the U.S.A. 4 Make states quit giving out huge tax breaks to foreign corporations 5 All legal foreign workers in this counrty pay taxes 6 Review all trade agreements and make sure they are fair to america instead of a huge give away to foreign countrys THIS IS THE KIND OF STIMULUS THAT WILL BRING US BACK

    January 28, 2009 12:44 pm at 12:44 pm |
  21. rena

    My question is this. If the republicans know or knew how to fix the economy then why in the heck are we in this fix? I mean do I stand correct they only been power for the last eight years. Don't give me that crock about the dems being in power for two years. The dems seems to have the upper hand now, but it sure as in heck is not stopping the republicans from fighting to pass this bill. So, where was this aggressiveness when Bush was in power and pushing thru all these pork barrel bailouts proposals?

    People while we are bickering over who have the answers, whose been in power, and whose the blame our country is going down the toilet day by day, minute by minute. Pretty soon we will be looking like a third world country, all because no one wants to take the blame. Just find a resolution and start this country to living again.

    To America – Please stop spending money you don't have and put money on the side for a rainy day. This why so many of us are caught with our hands out, because we didn't act responsibly. Our governement and wall street is not the complete blame. We must take our share as well. Stay within your means and quite going out buying houses you can't afford and buying cars when you have a descent one. Just because you get a great offer don't mean you have to take up on it. If your needs are being met, then by all means why go out and spend unecessary money. Most important news flash, there are jobs out there. GO GET A JOB!!! Stop depending on the system to take care of you. You may not get the job you want right a way but take something until that job comes along. A baby don't walk before it crawls; neither will you get a six figure job before you do what it takes to get there.

    Wise words for today from a concerned citizen. Love all you!

    January 28, 2009 12:44 pm at 12:44 pm |
  22. Dems be dopes

    How about this for starters?

    Assuming the math supports this...

    Give every legal taxpayer, that means you actually had to pay income tax, and not be a sucking hole that paid nothing, but want some back anyway, $1,000,000

    30% goes back to the Gov't as income tax, that keeps the Dems happy, they have tax $$ to reward top folks that don't want to work, but will vote for them.

    Americans, being Americans will spend or invest the rest in the economy, that keeps the Repubs happy and they get votes. The new spending will generate more tax dollars for the Dems, since they never have enough.

    Of course the enlightened from both Parties won't go for this as they are much smarter that we are and will never trust the American people with their own money.

    January 28, 2009 12:45 pm at 12:45 pm |
  23. DavidinCA

    ...but if you want the government to make an investment to stimulate the economy it will be necessary to tag on at least 100% more in just plain spending??? Oh, and this is not just because we have extra money in the treasury...this is all borrowed. Yeah, that makes good sense for the future of our country. It's like watching a runaway freight train.

    January 28, 2009 12:46 pm at 12:46 pm |
  24. Judy

    Brilliant move to have the CEOs of IBM and Honeywell show public support for the stimulas plan! I love our new President.

    January 28, 2009 12:46 pm at 12:46 pm |
  25. Laverne

    Obama is being very gracious to extend a hand out to the house republicans because he does not NEED their vote to get this stimulus bill through the house. The House repubs should choose their battles because this is one they will surely lose! Another thing, the repubs want to re-brand themselves and make political statements at a time when Americans need both sides to work together and get things moving in the right direction. Obama may tweak some things here and there, but the repubs have some nerve to try and make demands. Obama already had to remind them "HE WON" and they need to understand that they are NOT in charge anymore. Go Obama, the people who voted you in are behind you. Give 'em hell!

    January 28, 2009 12:46 pm at 12:46 pm |
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