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."
Marc in Kansas City
So easy to blame the republicans when the democrats controlled the house and senate when the last bail out bill was voted for. The democrats complained that the republicans were not supporting the bail out more. And yes, Bush did want the bail out.
You'll keep complaining about the Democrats until you turn red in the face. This economy will revive and anyone that voted against the recovery bill will be remebered in history especially during the next election cycle.
"We don't have a moment to spare"
Isn't that what McCain said when he wanted to postpone the debate and work on the TARP?? Obama laughed at him then, now he wants to hurry.
Vic of New York;
You are on the right track with seeing how tax cuts will work best to stimulate economic activity...
But it's tax cuts for investment and growth in businesses that will give both short and long term economic growth. Look at it this way; The cost of doing business includes materials, overhead, labor and taxes. The only way to lower the cost of doing business is to cut back on the first three. If the government could lower taxes, ( and they are the only ones who can do that), it takes pressure off of the other three. These three are critical economic activity for economic growth.
Too much spending, that's how we go t in this mess. And now the dems want republican support for everything they do after 8 years of obstructing the Republican administration on social security, reform of fannie and freddie, taxes as well as the wars. Bipartisanship is always great when you get your way! Prepare for a taste of your own medicine, dems. You libs are such hippocrits.
Yeah, hurry up! Let's get this wasteful, socialist, obscenely-expensive program rammed through congress before someone actually READS IT!
One last thing, if every American believes partionship is DESTORYING our Government, then let the people start to change this dynamic.
Let's ALL show respect for the President, love him (or her) or hate him (or her), lets ALL give the proper respect our President deserves and refer to him as President Obama.
I am a conservative Republican and respect my President. Please for our country's sake, Republicans please show our President the respect he (or she) deserves. Just because Dem's showed no respect to President Bush thus showing no respect for our country, please let's don't act like they did.
You can disagree with every single decision our President makes and that is fine, but please show the Preseident the respect he (or she) deserves
Mary Ann Rose – NO, it was the Democrats that voted for the first bailout (with NO way to police it by the way). If it was Republicans that voted for it, it would not have passed. Did you forget that the Democrats are the majority party so soon?
David – If you were handed a 600 + page document/contract to sign wouldn't you like the time to actually read the thing?
True, Bush most certainly wasn't one of our favorite Presidents and he want be the last, but I will not bash him or disrepect him. He was an authoritive leader that God allowed to take office. So, in the same token we should give the same respect to this President , all future Presidents, and those of the past. We as Americans really, really need to grow up and start behaving like adults. We have lost respect not only as Americans, but as a country who suppose be a country that stands together. But look at us we are so divided.
I am so ashame of us as Americans. Yes, we have done a great thing by coming together to select our first Afican American President, but I am not so much concerned with us making history, but how can we as a country for once in our lifetime come together as one people, and not be known by titles, color, or sex. Boy, it sure would be nice.
I don't care much about this panic time during the first 100 days. The news media does this to generate publicity and then if something get's screwed up, we'll just start finger pointing. (keepin pundits employed)
I'd rather these guys/gals hold their own and do whatever they do professionally and not act with haste. I want Obama to exercise his power but take heed that when things are rushed through Congress, (ie Iraq War) we won't have much time to really understand what bills we're signing or have a clue at how this stimulus will really effect our constituencies! Only hoping for the Best Mr. President!
Obama, much like Bush, is looking to throw our money away to people that do not deserve it. I want my own bailout, just give me back my taxes. Stop robbing me to hand it out to failed investments.
Well, if there is no time to lose, I better get what will be left of my assets off to the Caribbean.
In the New America, wealth is out. Better to be poor. Or at least look it.
BTW, last wealthy person left in the country has to pick up the check. See ya.
why can't people just put aside their 'party' and do what's right for ALL American's......I'm so tired of 'you scratch my back, I'll scratch your's" BS in Washington.
Just once, why can't they put US first.....
Obama is absolutely correct. Boehner, McConnell, and the rest of the non-relevant neocon holdovers should go with the program or get out of the way.
Cut the crap. The Republicans are not holding up the bill out of spite. They are calling it like they see it. Pork, pork and more pork. That's all this bill is. This is not going to do one thing to stimulate the economy. This is all political pay back at it's best. The Democrates are the one's who added all the pork to the first bailout bill. Ask Plastic face Pelosi about it. She would know. She helped save her husbands investments. But you Democrates and Liberals don't want to see the tree through forest. You want to keep believing that the democrates and Obama are going to save the world. You are delussional. This is a spending spreee. The biggiest fleeching of the American People in US history.
CNN you probably won't post this, because of your love affair with Obama. "you can't handle giving the truth to the American people. You are the most bias news outlet in this country. Do your jobs as investigative reporters and expose these clowns in washington for everything there worth. Stop hiding the real stories from the American people.
Mary Ann Rose – NO actually it was the Democrats that passed the last 2 bailouts, but that's OK in your world you're able to get what you think you want AND get to blame the Republicans for it when it turns out you don't want it. Must be nice in there
Why should all of the $825 Billion have to be approved at one time. Can we not manage this excessive amount better, by prioritizing
the items that can be fixed sooner than later; like paychecks, and
starting up small business incentives, and immediate health care.
Jobs are critical, so do what it has to take, to get people working
amidst the devastating trend of layoffs by the hundreds in our country.
Nobama, big pompous hat, no cattle.
This loser has already made 3 big mistakes: closing Guantanamo will increase safety and security risks for U.S. citizens as the terrorists will strike again on U.S. soil; secondly, allowing taxpayer monies to support international orgs to promote more abortions is WRONG. Stop this massive murders of unborn. A country with nearly 50,000,000 murdered unborn and supporting the countless millions to be killed in foreign lands is not only WRONG morally, it is unsound policy. And lastly, the fiscal stimuli is not a real solution to the financial armageddon and worsening depression. Nobama Depression will be the worst Hyperinflationary Depression scenario that will be deadly to many American corporations, businesses, and citizens/taxpayers. The biggest credit/debt bubble in history is being reflated, no way of paying for it, except by Zimbabwee like hyperinflation. This is foolishness.
Get rid of all the corrupt politicians incl. Nobama-Clintons and their ponzi scheme on the American people.
This man is not Houdini, just human. What happened to "Yes We Can"? Every plan has a trial period.
David , I think Americans have realized what the far right Republicans are about. That's why they have been reduced to minority status by the American voters. As long as Rush, Shawn, Beck , Coulter, Bill and other idiots are the voices in that party, we Americans will be fine without their hopes of success for this administration.
They have had eight years of rubber stamping George Bush, whom we know has led us in the wrong direction or at the minimum the wrong result.
Obama encourage dissent with reason and the ability to discuss to bring about concensus to make a sound judgement , any smart leader would.
But to wish for his failure is to wish for all of us Americans to fail. I believe we are one of many. Americans are tired of them.
To Maggie in NY
I agree with you, I was AGAINST that one too.
But now, instead of only $100 billion in PORK this bill has $750 billion in PORK.
When is it going to end?????????
We need stimulus not PORK.
Isn't this what happened on the original TARP?
Democrats tried to hurry it through congress without any oversight or logic into what was stuck into it, and when the Republicans shot down the TARP, the democrats said they were killing America?
Fast forward 4 months, and here the Democrats are again, not only trying to claim the TARP was a Republican agenda forced on them (rather than the other way around), but now they need us to "immediately" hand over another 900 billion dollars before anyone has a chance to find out how many teapot museums it will fund.
Be very wary of any politician screaming "Just give me the keys already! There's no time! Don't think just let me run everything!"
Why are people blaming 'Don't blame me'?
I hope the american voter wakes up and sees that the dimocrats are all about placing blame and not about helpong you or me. Pelosi is a perfect example of bipartisan politics.
This bill is bad for everyone and if my rep votes for it he loses my vote.
Let's take our time and do something that works, not just something for the sake of doing it.
Obumbler is stumbling again.
Although he is a miracle worker. He's making Bush look like a genius in less than 2 weeks.
Action yes, bailouts NO what the American economy needs is a reduction in government spending, thus a true reduction in taxes.
This package is nothing more than pork barrel spending, for all of those corporate campaign contributors, special interest groups and lobbyists, it has nothing to do with helping main street American citizens. Just like the first bailout the money will go into the hands of the very wealthy and stay there, and the mass layoffs will continue.