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. Claudette Siar

    When are the Republican's like John Boehner going to stop blaming everyone but themselves for the mess we are in and help clean it up. President Obama has careful put a package together in an attempt to save this economy and even considered input from the Republican Senators who helped created the mess. Enough! Support the President and stop blaming the democrats.

    January 28, 2009 01:30 pm at 1:30 pm |
  2. 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 01:30 pm at 1:30 pm |
  3. Ray Fisher

    The National Hydrogen Association says that a $10B investment in hydrogen fueling stations would put 1 million fuel cell automobiles on the road jump starting our economy since that money would remain "in-country" for the automobiles, fuel, accessories. Also by virtue of their "Zero-emission Status" they would also aid in reducing green house gases, filter the air they use for chemical reaction and add to the advancement of technology. Research the possibilities!!!

    January 28, 2009 01:31 pm at 1:31 pm |
  4. Allen

    That's it! HURRY! HURRY! HURRY! He only has four short years to spend this country into the ground. (Stimulus spending has one purpose and one purpose ONLY; that is to make politicians look good in the short term. In the long term, it just puts us deeper in debt.)

    January 28, 2009 01:32 pm at 1:32 pm |
  5. Dee in MD

    You sound just like the republicans. Your comprehension of the plan is LUNACY. Don't blame the recession to depression on Obama's plan. You have Bush to blame for that.

    WAKE UP, dont blame me. You seem to be the only one sleeping. America voted, remember, and Obama won.

    January 28, 2009 01:32 pm at 1:32 pm |
  6. Debater

    Obama is totally correct. The economy is just going downhill and people are losing more and more rapidly. The stimulus plan won’t have a straight immediate impact, but it will certainly slow things down and possibly put the economy going in the right direction. Even if it doesn’t heal our bruises, it will certainly take down the swelling.

    January 28, 2009 01:32 pm at 1:32 pm |
  7. John from San Diego

    Stop listening to Limbaugh. We NEED that spending. Do you need a bridge to collapse ever other week to understand that? These "low tax" policies have made us ignore our infrastructure. Tax break don't build roads and bridges.

    January 28, 2009 01:34 pm at 1:34 pm |
  8. Meh

    It's nice to have a president who actually...you know...DOES THINGS. What a concept!

    January 28, 2009 01:36 pm at 1:36 pm |
  9. Hall for Obama

    Dont Blame Me, we are already in a depression, I get depress every day I see bills and no money coming in. Before you tell me to get a job I have worked for over 50 some years, thank you very much.

    January 28, 2009 01:36 pm at 1:36 pm |
  10. Grant

    Like Bush's and the other republican's earlier stimulus bill was great? I think not. Its funny how its only good when it is coming from your party. They past the previous one quick and look how it failed, who are they to judge what will work or not.

    January 28, 2009 01:37 pm at 1:37 pm |
  11. ed

    In order to to pick up the stock market, america should place a 24 month ban on imported goods as well as banning goods by americam companies that have shipped jobs overseas. Re-regulate wallstreet, utilities and real estate. For one year, Mandatory Government guidelines of $0- 450 for one bedroom apartments, $450- $600 for 2 bedrooms and $601-800 for 3 bedrooms. After that year allow landlords etc to go back to market value. Another $100 billion into the banks and freeze loan repayments for 90 days. We can work, save, get back on our feet . Place a price freeze on oil prices until we can Re-Regulate wallstreet so private investors can't manipulate pricing of oil, utilities etc. Put the $100 billion in bailout money into government employees, and That'll spike american shares on wallstreet into a positive direction. By only exporting we'd create jobs and actually bring back jobs to america. Once we're debt free then lift the ban. China may not like it but we need to do something couragious. Confidence in the american market place will pick up and we'd feel more comfortable spending....i know its not "that" easy but very possible.

    January 28, 2009 01:37 pm at 1:37 pm |
  12. Franky

    And do you know what's the crazy part?? I recall when i was in High School, my own parents wanted to start their own small business. As a matter of fact, they've been planning this since who knows BUT for some reason, we never had our own business. First of all, my dad wants his own thang, his life long dream is getting a ranch and ll that good stuff, he won't even care about the economic times. And I gotta say, he is lucky because if we would've had our own business and so on, who knows where we'll be later on...

    In other words, God gave us the heads up. You guys are a bunch of morons and yes, he doesn't like you...

    January 28, 2009 01:38 pm at 1:38 pm |
  13. 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 01:39 pm at 1:39 pm |
  14. give me a break

    Obama is on the right path..

    I am an independance and I think the republicans need to stop playing politics and start dealing with main street business.

    Obama is the change we need to American!....

    January 28, 2009 01:39 pm at 1:39 pm |
  15. You Got Change...Now What?

    Tell me how funding ACORN is going to help save jobs. Tell me how spending money on zoos will help save jobs. Do something which will work – not something full of pork.

    January 28, 2009 01:39 pm at 1:39 pm |
  16. Buckethats

    For those doubting we are already in a depression, take note:
    After the Wall Street crash of 1929 the stock market lost 40.3% of its value. Last year, 2008, Wall Street lost 40.9%!!!
    We're already in a depression folks. We tried to spend our way out of it then. So did the Japanese in the 90's. . . When are we going to learn our lessons from history?!?!? It only prolongs and worsens the inevitable!
    You can't prop up bad business practices with more money, it's insanity. You have to change the fundamentals that put you in that situation! This isn't happening and no amount of gov't regulation or oversight is going to help.
    Let the dinosaurs fail. . . That is the beauty of a free market system! Someone else will rise up and take their place and do it better than the dinosaur ever did – that is capitalism at work!!!
    The path we are on will only lead to a deeper depression and far graver circumstances!

    Like the blogger above wrote. . . WAKE UP AMERICA!!! We can do better. Much better!!!

    January 28, 2009 01:39 pm at 1:39 pm |
  17. An American

    Not a moment to spare? You guys said that last year right before the first bailout – its urgent – we better do this NOW. Well, here we are and the money given is not fixing a thing and we are still "standing". In fact, what was done with that money? Stop the scare tatics. Yes we need to do something, get rid of the crooks – amen.

    January 28, 2009 01:39 pm at 1:39 pm |
  18. Rebeccainca

    There isn't a penny in the thing going to ACORN. The attack on ACORN was waged by Boehner and there is yet of anything to come from it. ACORN was used as a political ploy and scapegoat during a heated election in an effort to defeat Barack Obama. Last I checked they failed.

    Dont blame me...is obviously a listener of Rush Limbaugh because this is where the ACORN lie started.

    There's plenty in the bill to stimulate the economy and it is no where near "lunacy"

    I see the package goal as stabilization/preventing a downward spiral across many issues and areas.

    Listen up not wake up....many American's are wide eyed and well aware of what's going on right now.

    Recovery.org will be a great site to keep an eye on this package.

    January 28, 2009 01:42 pm at 1:42 pm |
  19. Tripp

    The only thing we have to fear is idiots like Boehner and Pence trying to block Obama's plan and replace it with the same failed policies that got us into the mess we are in. They define fiscal responsibility as tax cuts for the wealthiest Americans and no aid to those who are losing their homes or their jobs or worse. These neocons forget that the reason poverty stricken people don't pay taxes is because they are POOR.

    January 28, 2009 01:43 pm at 1:43 pm |
  20. Tracey

    Hey Dont blame me,

    Do you have a better idea? Let's hear it!!!! Give it a chance, let's see what happens. I for one am tired of working my ass off and not getting anywhere. I don't mind working hard, but when I still can't pay my bill or feed my family, then I have a problem. It's broken it need fixed lets just do it.

    January 28, 2009 01:44 pm at 1:44 pm |
  21. Romney2012

    So, as usual, since we don't have a moment to spare, let's cram through a bunch of "ACORN supporting pork." If anyone objects, they'll be met with typical Obama canned comments of "they're not on board..." or my favorite..."We need to sit party politics aside..."

    (set them aside so I can shove the tax dollars stolen from decent AMERICANS and use as entitilement payments to the drug pushing, pimping inner cities...that'll stimulate the economy!)

    Obama's a master at playing the vicitm," in a conversation; citing that we should put "party politics aside..." what a pathetic choice this country's made.

    January 28, 2009 01:44 pm at 1:44 pm |
  22. Obama Lover

    The Republicans had their way for at least 6 of the last 8 years. What have they accomplished and what are their proposals to get us out of this mess? if they oppose this package, they need to counter it with something else. At least Obama is actually taking a proactive approach...

    January 28, 2009 01:46 pm at 1:46 pm |
  23. James

    I miss G DUBYA B.....

    January 28, 2009 01:46 pm at 1:46 pm |
  24. Romney2012

    I have a great idea...dems should read ECON 101, and actually learn something about the market....then, fire pelosi, reid, and obamnuts, and hire someone who has a business brain, who's actually organized something besides a fried chicken dinner for Rev Wright...and get the country straightened out....Romney 2012....

    January 28, 2009 01:46 pm at 1:46 pm |
  25. TT

    You WAKE UP...........give the man a chance.....we are in a recession
    and your point being what Dont blame me. Stay off the ACORD because that is not a true statement you are making , get your facts first. Let see whats going to happen. I think he is doing fine keep
    a positive out look on things.......... I believe that we will get out of the
    mess but it will take some time.........

    January 28, 2009 01:48 pm at 1:48 pm |
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