March 3rd, 2009
07:40 PM ET
5 years ago

Obama budget hopes meet bailout rage

President Obama's economic A-team went to Capitol Hill on Tuesday to address questions about the administration's ambitious budget request.
President Obama's economic A-team went to Capitol Hill on Tuesday to address questions about the administration's ambitious budget request.

NEW YORK (CNNMoney.com) - President Obama's economic A-team went to Capitol Hill on Tuesday to address questions about the administration's ambitious budget request.

But they also ended up being grilled on everything from the latest AIG bailout to the risk of propping up zombie institutions.

Proposals like Obama's plans to reform federal efforts on health care and energy are big heaves in normal times. Now the president has to sell his budget at a time when many lawmakers are worried about the effectiveness of the government's expensive efforts to stem the economic and financial crises so far.

That was made abundantly clear as Treasury Secretary Tim Geithner, Federal Reserve Chairman Ben Bernanke and White House budget director Peter Orszag testified in hearings before the House and Senate.

Full Story


Filed under: President Obama
soundoff (82 Responses)
  1. mike

    Thanks to all the idiots who voted this fool into office.

    March 4, 2009 12:12 am at 12:12 am |
  2. Mississippi Mike

    I'm angry. Why should I have to pay for a bunch of government waste and entitlement programs? If our govenment is going to mortgage our nation, why not do it by suspending income taxes? Oh right, that wouldn't be "fair" by Obama's economic standards.

    March 4, 2009 12:13 am at 12:13 am |
  3. donald tucker

    Obama is going to run this country into something I dont even want to imagine. Sooner or later everyone will see just what an ignorant individual he is, but unfortunately it will be all too late. He talks about faith as though he has some, or even know what that is. Does this man even believe in Jesus??? what is his faith....i am very curious. I think I have the right to know whether or not he is a muslim.
    I hope that we are all preparing for hard times ahead, because that is what's coming.
    WHAT A BUNCH OF COMPLETELY IGNORANT MORONS WE HAVE RUNNING THIS COUNTRY. Prophets have prophesied of these the last days when the US would hang by a thread, and Obama is definetly taking us there.

    March 4, 2009 12:30 am at 12:30 am |
  4. Lisa C.

    Lesson #1: never tell the American people the full truth, Mr. President. We are used to being lied too. Adding the cost of war into the budget should have been listed separately, so that we can 'feel' like you're fiscally responsible. Bush/Cheney 101.1
    Lesson #2: never ever attempt to correct a problem that affects only a few million Americans and the financial segments of the capitalistic system, without a, 'attaboy' for the few million pathological narcissists who weren't trapped in the middle of corporate greed. They have got to be recognized as smart and upstanding – wink, wink. Karl Rove 101.2
    Lesson #3: never ever expose the secret agenda of the wealthy in-crowd, they'll malfunction and eat themselves. Therefore, exposing their own little dirty secrets while trying to take you down. And it is not a pretty sight to see when the thick white pasty stuff expel from their mouths when they malfunction. Androidnotics 101.3
    Thank you sir for your time. Looking forward to hearing how you will correct these errors.

    March 4, 2009 01:00 am at 1:00 am |
  5. Aaron, Baltimore

    It's funny how all you small business owners want to cry about Obama finally taxing you what is fair. While im not saying all are the same, but I know of more than a few of my buddies who work for people who own small businesses, and are getting screwed nine ways to Sunday. No healthcare or the bare minimum to get by. And is getting underpaid on top of everything else and can barely afford to live while his employer is pretty much getting rich off of him. Not saying that all small business owners are greedy and dirty like that, but that is an example why crap is the way it is now. So don't get upset just because Obama is trying to even the playing field. Its like if some people aren't making record profit they are complaining, while other hard workers are just trying to break even and survive. I have no pity for greedy thieves.

    March 4, 2009 01:09 am at 1:09 am |
  6. Matt

    Whomever states that this is a socalist regime is clearly uneducated! Learn what socalism is first! Anyone who says Barack Obama is a tax and spend liberal is an idiot! I guarantee you 90 prevent of you people calling him these things hasn't read his budget of plans to decrease the deficeit in half by the end of his first term! He's gonna finally tax the rich and give a tax break to 95% of Americans, fix our ailing healthcare and broken education system. By the looks of the comments on here we need it. Finally, his budget is so high because he actually included the war we have been waging for the past 6-7 years! Bush didn't do that! God no wonder Americans aren't the most educated anymore, you people listen to idiots like rush and sean hannity and bill o'reilly instead of researching yourself! Wake up!

    March 4, 2009 09:04 am at 9:04 am |
  7. Mike

    Nothing is going to change until the cost of goods come down. Can you really afford a car that costs over 20K? since most of our economy spins around the automotive industry what can be done to lower the cost of a car. If cars were in the 10k to 15K range I think I and many others would buy. At what profit margin is Detroit happy?

    March 4, 2009 02:25 pm at 2:25 pm |
1 2 3 4

Post a comment


 

CNN welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.