February 11th, 2009
06:23 PM ET
6 years ago

Obama praises news of stimulus deal

Obama is praising news of a deal on the stimulus bill.
Obama is praising news of a deal on the stimulus bill.

(CNN) - President Barack Obama on Wednesday praised members of Congress for apparently reaching a deal on a stimulus package.

“I want to thank the Democrats and Republicans in Congress who came together around a hard-fought compromise that will save or create more than 3.5 million jobs and get our economy back on track," he said in an issued statement.

Obama also highlighted comments from Caterpillar's CEO that he would rehire some laid-off workers if the bill passed.

"Just today, the CEO of Caterpillar said that if this American Recovery and Reinvestment Plan is passed, his company would be able to rehire some of the employees they’ve been forced to lay off," he said. "It’s also a plan that will provide immediate tax relief to families and businesses, while investing in priorities like health care, education, energy, and infrastructure that will grow our economy once more."


Filed under: President Obama
soundoff (113 Responses)
  1. karl

    Ahhh the great American socialism act of 2009. I can hear my grandkids now..... Granddad, please tell us about the days when we weren't slaves for the government and their special interest buddies.

    February 11, 2009 07:37 pm at 7:37 pm |
  2. 2young2vote-OR

    Great, spend it well

    February 11, 2009 07:38 pm at 7:38 pm |
  3. Ginny

    He should praise it, afterall, he has paid all his supporters and campaign contributors back with it. So nice of him to allow us the taxpayers to pick up the tax in a couple of years when our taxes go sky high because of it. We sure wont see any of it around here.

    February 11, 2009 07:40 pm at 7:40 pm |
  4. mike

    Good job mr. President!

    February 11, 2009 07:40 pm at 7:40 pm |
  5. Compromise to What

    I thought a true bipartisan bill would have left the house with both sides of the isle voting on the best possible bill for America...not a Peloski Pork spending spree.

    What we need is a true bipartisan effort that will IMMEDIATELY spur hiring...not just useless, careless spending. The health care initiatives and other items that loaded up this bill are worthy but they are not stimulative and I don't see them being temporary. They are social based policy that the dems have wanted for many many years.

    We need a stimulus plan, but what we don't need to do is play up to Obama's enormous ego to have the bill ready by "Presidents Day"...let's get real. Symbolism doesn't create jobs or ensure wise spending of our taxpayer dollars. I really feel that is the most important thing to him right now. He wants to sign the bill on President's Day. That is a huge disappointment after the apparent vetting failures for his cabinet members and Geithner's lack luster "plan" yesterday. Speaking of lack of vetting, where is Hillary these days?

    February 11, 2009 07:45 pm at 7:45 pm |
  6. Lynn

    Sad Texan: The stock market went down because they were waiting to hear of more big bailouts! President Obama is obviously putting main street first, taking time to make sure they get it right and that the CEOs understand what a "bailout" means as was evident with the CEOs of the big banks on Wall Street today.

    "Investors" need to pony up and show what they are going to do to help get the economy and the market going. Perhaps putting a little heat on them will make them more condusive to the regulations to come!! They need to earn the trust of the piblic and throwing a little fit when they don't hear what they want isn't going to earn it.

    February 11, 2009 07:48 pm at 7:48 pm |
  7. Jen

    I would praise it to if I actually was getting something out of it, like a job. I guess he is getting to give billions to his supporters...sure hope some of that makes it to the little guy and gal in this country.

    February 11, 2009 07:51 pm at 7:51 pm |
  8. Once you vote Black

    The one state Big Daddy O has not been to yet is Palinstan (Alaska). I wonder if taking the bail out money will go agains her values. And what ever happened to PUMA?

    February 11, 2009 07:51 pm at 7:51 pm |
  9. DavidinCA

    @Hammer

    "...According to the CEO'S they did not ask for a bailout the government ask them to take the money.
    Who is telling the truth?"

    The banks did not come crawling to Washington begging for help like the auto companies did. The treasury is basically using the banks to help get credit and lending back on track.

    It's working. My small manufacturing business has just this month received a $100k loan from Wells Fargo for equipment expansion. We will be able to create at least a couple new jobs and hopefully several later this year. I have to think this TARP program helped. Small businesses can kick start the economy with just a little help.

    February 11, 2009 07:54 pm at 7:54 pm |
  10. Independent, Illinois

    If the left-wing liberal nut-jobs feel they have to turn us into an "entitlement" socialist society at least they could use some common sense about it.

    How is this for a stimulus package. Refund all taxpayers (that is people that paid taxes only, not every man, woman, and child in america) a $1 million dollar check. That would cost the government what…..$156 million or so. A lot less than $1.5 trillion.

    Mortgages would be paid, new cars would be bought, debts would be paid, other goods and services would be purchased……economic crisis over.

    February 11, 2009 08:01 pm at 8:01 pm |
  11. jumbo

    sorry sen schumer we do care about your small little pork spending ,,, are you kidding me .. that just shows the american people how out of touch your are ... oh ya i for got it is not your money .....thief !! sorry mr president no praisie from us poor tax payers ,,,,, shame on you people,,,,

    February 11, 2009 08:04 pm at 8:04 pm |
  12. DOhio

    I can not believe the amount of slams against Obama and the stimulus plan. At least there was a plan to be negotiated! I haven't heard of anyone else coming up with anything that even resembles a stimulus plan. From what I have heard and read, many of our representatives would rather sit back on their haunches and do nothing. That helps! I say we give it a chance. Our chance to vote will come around again.

    February 11, 2009 08:05 pm at 8:05 pm |
  13. Jorge in Wisconsin

    Good Job Mr. President, Now lets work on a LONG term plan. Maybe fixing Cheap Import Prices so Americans can Spend the 800 billion here in the US and not towards China. ~ Please Tax High on imports to make the import price difficult to purchase and cheaper for Americans to purchase our own American Products.

    February 11, 2009 08:08 pm at 8:08 pm |
  14. Ben

    Wayne – You need to wake up and smell the coffee. This is now officially Obama's economy. It's now officially the Democrats economy. They own it now. ALL of it. If it works out, great. If not, we all know who's responsible.

    February 11, 2009 08:09 pm at 8:09 pm |
  15. Judy from PA

    Ok, I have decided what to do. I need to stop making my mortage payments on time, save up a few months worth of payments. Then when I am threathened with foreclosure I will get a great rate to refinance. I tried to refinance the correct way and the rate is high. Thank you Barack, for making it more worthwhile to not work and not do things correctly.

    February 11, 2009 08:15 pm at 8:15 pm |
  16. Independant Vet

    YET IN HIS SPEECH THE OTHER NITE HE WAS SUPPOSE TO SAY THANKS TO A LOT OF PEOPLE. YET HE SHOWS UP AN YAK'S ABOUT THE S.O. S . THEN HE MAKES ALL THESE FLY IN'S . AN SAY'S THE S..O. CRAP.

    DON'T SEE HIM CUTTING BACK ON ANYTHING. THIS IS THE BIG CHANGE , FOR THE REST OF THE PEOPLE .

    THEN THERE IS THIS BIG QUESTION. I THOUGHT BY NOW HE WOULD BE DISPLAYING A LAPEL PIN. YET THREW HIS 2 YEAR AT BLABBING AWAY. HE STATED HE WOULD CHANGE OUR FLAG AN REWRITE THE PLEDGE. FOR HE DID NOT LIKE IT. THEREFORE I TAKE IT , THIS IS STILL HIS PLAN .

    THIS STIMILUS BILL WILL BE LIKE , PEEING OVER BOARD IN A DRIED UP LAKE BED. ABOARD USA NEVERFLOAT.
    ######################################################

    February 11, 2009 08:15 pm at 8:15 pm |
  17. TrueIndependent

    The Eric Cantor video sums up exactly what Republicans think of working Americans. Enough said.

    February 11, 2009 08:17 pm at 8:17 pm |
  18. Conservative Joke

    Only a conservative could spend more money than Obama. Oh well, as long as the corporations are getting their patronage.

    February 11, 2009 08:18 pm at 8:18 pm |
  19. legal in nc

    Look forward to supporting NOBAMA the same way you on the left supported President Bush!

    Bunch of Hypos!

    February 11, 2009 08:19 pm at 8:19 pm |
  20. Dan, TX

    Don't the republicans remember, it is business that will pay back the stimulus cost. The stimulus will improve business and tax cuts will help business even more. In fact, the lower the tax rate on business, the more money business makes, so the more taxes they'll pay. If you want to get even more tax revenue, then lower taxes on business even more. See how the republican logic works? Brilliant.

    February 11, 2009 08:23 pm at 8:23 pm |
  21. No Incumbents 2010

    Been There Done That!

    "We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong...somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises...I saw after eight years of this Administration we have just as much unemployment as when we started...And an enormous debt to boot!" – Henry Morgenthau, Jr.

    FDR's Treasury Secretary

    February 11, 2009 08:24 pm at 8:24 pm |
  22. Need a laugh?

    A woman in a hot air balloon realized she was lost. She lowered her altitude and spotted a man in a boat below. She shouted to him, 'Excuse me, can you help me? I promised a friend I would meet him an hour ago, but I don't know where I am.'
    The man consulted his portable GPS and replied, 'You're in a hot air balloon, approximately 30 feet
    above a ground elevation of 2346 feet above sea level. You are at 31 degrees, 14.97 minutes north latitude and 100 degrees, 4909 minutes west longitude.'
    She rolled her eyes and said, 'You must be a Republican.'
    'I am,' replied the man. 'How did you know?'
    'Well,' answered the balloonist, 'everything you told me is technically correct, but I have no idea what
    to do with your information, and I'm still lost. Frankly, you've not been much help to me.'
    The man smiled and responded, 'You must be a Democrat.'
    'I am,' replied the balloonist. 'How did you know?'
    'Well,' said the man, 'you don't know where you are or where you're going. You've risen to where you are, due to a large quantity of hot air. You made a promise that you have no idea how to keep, and you expect me to solve your problem. You're in exactly the same position you were in before we met, but, somehow, now it's my fault.'

    February 11, 2009 08:26 pm at 8:26 pm |
  23. Bob

    Obama! Where is my free money and rent from house? GIMME GIMME GIMME!

    February 11, 2009 08:27 pm at 8:27 pm |
  24. Libertarian

    I find it hard to believe that anyone would use the STOCK MARKET as a bell weather for the stimulus. The stock market will take off when conditions favor WALL STREET. A huge dive in the market means the greedy are taking their money and running. They don't want to be the last rat on the ship. Remember these financial geniouses, like Madoff, had herds of sheep blindly following them.

    Also remember that all the spending in this bill wont' happen in one day. Just like the TARP money is only half spent. The bill will release the money and tax cuts over a period of time. If things start going bad, "We the people", need to start shouting loudly that it's not being spent properly. Obama will listen.

    Congrats Mr. President....three weeks in office and one of the most important bills of the century is almost done.

    February 11, 2009 08:27 pm at 8:27 pm |
  25. alvino

    Independent Illinois-

    Love your republican math. It is easy to see why there are so few of your party left in congress.

    February 11, 2009 08:28 pm at 8:28 pm |
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