February 4th, 2009
03:57 PM ET
2 years ago

Obama warns of turning a 'crisis into a catastrophe'

 President Obama says Congress must act without delay on his economic plan.
President Obama says Congress must act without delay on his economic plan.

(CNN) - President Obama warned Wednesday that failure to act immediately on his economic aid plan "will turn crisis into a catastrophe and guarantee a longer recession."

"Millions more jobs will be lost. More businesses will be shuttered. More dreams will be deferred," Obama said, as Senate debate continued on amendments to the stimulus package.

Watch: President, Geithner discuss the economy

The House last week passed an $819 billion version of the plan, but no Republican voted in favor of it. The president has been trying to gain Republican support before the Senate votes on its version of the bill.

Debate on amendments to the bill is expected to last all week in the Senate. A vote could come as early as Friday.

Republicans are calling for a plan with more tax cuts and less spending. They also want more emphasis on helping homeowners. One Republican proposal could double the tax credit for home buying from $7,500 to $15,000.

Obama has said he wants to make sure Republican ideas are incorporated into the final legislation, but he said Wednesday that Congress should "not make the perfect the enemy of the essential" and brushed off recent criticism of the plan.

Full story


Filed under: Congress • economic stimulus • President Obama
soundoff (232 Responses)
  1. Ken in Dallas

    offwallst February 4th, 2009 4:26 pm ET

    Several world leaders think your administration is a joke

    Pelosi what a joke.says americans losings jobs at the rate of 500million a month. Dont believe it go to drudge report.

    --------------------------

    Wow, Drudge caught a politician stumbling over words. What an accomplishment.

    We're losing 500 thousand jobs a month, and if we keep on at this rate, we'll be staring at 20% unemployment straight ahead by the end of this year. But it's ok, because Pelosi said the wrong word, and that makes you feel all better.

    You sound more clueless than Matt Drudge.

    February 4, 2009 04:35 pm at 4:35 pm |
  2. mark

    to everyone who says cut out the pork, where do you think most construction jobs get their money.

    February 4, 2009 04:35 pm at 4:35 pm |
  3. Betr Ded thn Red

    offwallst-
    drudge lies. Just ask the backwards B.

    Republican Senators are ticked about being in the minority. They'll stall this out and keep the people suffering to exact their revenge to the voters.

    February 4, 2009 04:36 pm at 4:36 pm |
  4. Lexie

    Don't look for the Republicans to help, afterall, they only support other Republicans and Republican based ideas. I think the American people are doomed. We need to vote all Republicans OUT!

    February 4, 2009 04:37 pm at 4:37 pm |
  5. Observant

    President Obama, please don't listen to Senator McCain and his group. Tax cuts have not worked for the last eight years. If you Democrats and Republican can not get it together, just give the taxpayers the $100K each, I can guarantee that the economy will improve, stimulating the real estate market and the auto industry.

    February 4, 2009 04:39 pm at 4:39 pm |
  6. gregg45

    goodness,, gracious,, we shall do what he says,,, unless,, ms judd asks him to set free all animals in zoo's ,, place the wolf , in everyone front yard as a pet,,, matt. get real.. 54 % to 46 % is not a mandate,,, just more ,, and i will put this blunt,,, not that oocn will post,,, More dreams will be deferred.. how funny...a deferred dream,,, whats next,, oh ,, obama .. please help me remember my last dream... i had money

    February 4, 2009 04:39 pm at 4:39 pm |
  7. ZANE

    Notice how the Reppublicans are suddenly concerned about the American people? Remember folks, the Republicans rubber-stamped George Bush for 8 years, why should we expect them to support anyone but their own Party now.

    February 4, 2009 04:40 pm at 4:40 pm |
  8. Mike Dallas.

    Remember those wise words from the bald, blatherin' bloated bonehead "said he hopes you fail" and then of course, the token Steele said "bi-partisanship is overrated".

    At the meeting you seemed to introduce repubs to the reality that you won the election, glad you are standing up to them after they bit the extended hand of bi-partisanhship.

    Steam roll the b%$#@$ds! Show 'em EXACTLY how "overrated" co-operation really can be.

    Maybe next time they will listen to the majority of American voters, nah, they still think they won and say tax breaks for the rich is the only answer, no matter what the question!

    February 4, 2009 04:40 pm at 4:40 pm |
  9. An American

    Yes, somthing needs to be done, but not what they are suggesting. Give the "people" the money and we will put it to good use that is for sure. Stop your threats and start really getting down to the business of taking care of this serious mess. Enough talk about it already – we have been on our last leg since last year – just stop it. The amount of money being asked for and the some of the stupid things it will go to are just nuts. President Obama, put Pelosi and Reid on the back burner and YOU work with the dems and republicans and present a package to the American people that we can swallow and be proud of. Look at Wells Fargo – makes me sick.

    February 4, 2009 04:40 pm at 4:40 pm |
  10. Carl Justus

    Several world leaders think your administration is a joke
    +++++++++++++++++++++++

    Name them or eat your words,

    February 4, 2009 04:41 pm at 4:41 pm |
  11. Allen

    B.O. and the rest of the Democrats are going to lead this country right into a depression with their wreckless out-of-control spending and Marxist ideals, and the American people are going to COMPLETELY DESERVE IT.......at least 53% of them anyway.

    GOVERNMENT DOES NOT CREATE WEALTH!

    February 4, 2009 04:41 pm at 4:41 pm |
  12. Sherry

    The Republicans are and will buck the system the whole way. Why should we expect anything else from them.

    February 4, 2009 04:41 pm at 4:41 pm |
  13. Dan, TX

    Gee a $15,000 tax break to buy a house? Hell, my teenage daughter could buy a house! Great. No money down, right? Low interest rate right? Cheaper than renting! Heck, you can afford to buy a house even if you aren't employed! That's great!

    February 4, 2009 04:43 pm at 4:43 pm |
  14. aware

    You fail the test Mr. Obama.

    You are just a far left-wing guy more concerned about 2010 and 2012 than a genuine stimulus package that will work now! :(

    Washington politics revisited by the one who does not walk the talk!

    Get Chicago out of your blood and get real!

    February 4, 2009 04:43 pm at 4:43 pm |
  15. Matt

    Funny how conscience only attacks the GOP when a Dem is in office...

    Tax cuts = an alternative to bailout money for corporations, but with no responsible strings attached, like compensation limitations. Either way, tax cuts or spending, the money is no longer in the gov't's budget for running the country. But after watching what the corporate world did with the first $350B, I think I'll take my chances with taxing them and giving them money back only if there are strings attached.

    February 4, 2009 04:43 pm at 4:43 pm |
  16. sick of the repubs

    All of you stupid idiots that keep making jokes about the amount of the money and President Obama are just that idiots. This is not the time to spit out your hatred words towards the President, he didn't get us into this mess you stupid repubs and GW did stop trying to blame Pres Obama for trying to clean up this mess you morons created.

    February 4, 2009 04:44 pm at 4:44 pm |
  17. Clinton Supporter for Obama

    Well Said Mr. President.

    To Just shut up!: Why don't YOU just shut up! Bill Clinton is not to blame for the crisis we are in. It is the moron you voted for (George W. Bush). So please stop trying to use Bill Clinton as the scapegoat. George W. Bush was in office for 8 years. Within those 8 years he managed to take this country to hell in a handbasket. Please tell me and the other 4.7 million people that are currently unemployed how a tax cut will help them in finding a job. What good are tax cut if you do have a job to earn income to benefit from tax cuts!

    February 4, 2009 04:44 pm at 4:44 pm |
  18. Nancy

    I'll never vote for another Republican again...not even for local dog-catcher!

    February 4, 2009 04:44 pm at 4:44 pm |
  19. Tee

    It should have been Hillary .... Obama has no clue and is nothing but LIES. Bush and Obama is their a real difference when it comes to spending?

    Hey Obama, pork is bad for you ... stop the madness.

    February 4, 2009 04:45 pm at 4:45 pm |
  20. Trent

    If Obama was George Bush, the Republicans would be standing in line to rubber-stamp the stimulas bill.

    February 4, 2009 04:46 pm at 4:46 pm |
  21. Mari

    @ President-in-training......... SO WHAT IS YOUR SOLUTION???????

    IF the complainers and critics on the far-right would take time to do some reading, research and READ the Stimulus Bill rather than just complain, you may learn a thing or two!

    IF President Obama does absolutely nothing, the unemployment rate will double in a month! A depression will occur. And YOU, the far-right would crucify him for not doing something!

    It would be refreshing to have an intelligent discussion of issues on these blogs, but no...... with the vile spewed from the far-right there is no dialogue possible!

    Let's NOT FORGET that Bush & Co., were WARNED by our best economists THREE YEARS AGO, of an impending disaster, and that BUSH CHOSE TO IGNORE THE WARNINGS!

    WHERE WERE ALL YOU, 'FISCAL CONSERVATIVES' WHEN BUSH WAS SPENDING OUR NATION INTO........ FINANCIAL OBLIVION???

    Hypocrites!

    February 4, 2009 04:46 pm at 4:46 pm |
  22. Charles

    Keep on pushing those recalcitrant republicans Obama. They are playing with our country's future, and the well being of all Americans. They want so badly for you to fail that they are willing to damage our country for that. It takes someone like you; someone that is an ultra patriot and has a lot of true grit, to try and straighten out the damage done to our USA by the morally corrupt Cheney-Bush wanna-be monarchy. And then the has-been republican candidate is pulling another one of his histrionic stunts. What a sad state of affairs for working Americans. We can only hope that it is the dying throes of the GOP.

    February 4, 2009 04:46 pm at 4:46 pm |
  23. THE OLD TIMER

    forget the recession and step forward and tell the people the truth for once. It might be the first time you told the truth, we are in a depression idiot.

    February 4, 2009 04:46 pm at 4:46 pm |
  24. LIP

    This is somewhat puzzling. Obama is making out like the Republicans are holding up the show, but meanwhile Obama is upset that Nancy Pelosi suspended debate and Obama asked Rep Jim Cooper, a member of the coalition of Blue Dog Democrats to vote against the bill. What exactrly is he trying to achieve? Supposedly he wants the pork cut out and can slice this out if and when the bill comes to him, but he can't be criticizing the Republicans on one hand for wanting to get a better package and then ask conservative his democrats to vote against it at the same time. This just doesn't make sense.

    February 4, 2009 04:46 pm at 4:46 pm |
  25. Tori

    If the stimulas bill had a Republican author, the Republicans would be standing in line to rubber-stamp it!

    February 4, 2009 04:47 pm at 4:47 pm |
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