Washington (CNN) – President Barack Obama sent a weekend letter to congressional leaders seeking approval for previously proposed spending measures intended to protect the nation's economic recovery, but initial response Sunday was mixed.
The Saturday letter to the leaders of the House and Senate asked for the Senate to approve an $80 billion measure offering extended jobless benefits as well as tax breaks and better access to credit for small businesses. In the letter, Obama also sought congressional support for proposals totaling about $50 billion to help state and local governments avoid layoffs and service reductions.
Read: Obama's letter to congressional leaders
Obama's letter also noted that his administration was holding down some annual spending and had created a bipartisan commission intended to devise a deficit reduction strategy.
"Ultimately, reining in our deficit will take major steps, including the effective implementation of health reform and laying the conditions for the success of the bipartisan fiscal commission," Obama's letter said. "Only through this approach of aggressive and well-designed targeted and temporary actions, alongside measures to ensure a sustainable and responsible long-term budget outlook, will we be able to fulfill our economic potential."
David Axelrod, Obama's senior adviser, said Sunday that Obama's letter was intended to "underscore the urgency" of continuing to support economic recovery.
We are almost out of this near depression so just a little more of a boost will pull us out from the demise of the Bush Administration. Lets do it.
My uncle once told me that in order to make money, you have to spend money, and he was a very successful and wealthy man.
It's going on 2 years and the republicans still have no new ideas. I guess it's fine for 300,000 teachers to get laid off. The wreckless and failed economic policies of the past are over with. Tax cuts are not the answer to everything!!
Hey, Obama, I have a fool-proof method to control the deficit. Stop spending all of our money.
This is nothing but a thinly-veiled effort to prop up the teachers unions for support this November. If union teachers want to save their own jobs, they can take a cut in wages and benefits just like the rest of us have to.
Obama's economic policies have been a failure, and have nearly bankrupted the country. Billions have been spent on "green jobs", yet the Dept. of Labor doesn't even have a definition of what a "green job" is.
This has got to stop!
Is this president insane? How can he keep spending money this country does not have? Does he really think jobs can be created with the uncertain future companies face paying for his health care program, additional unemployment taxes and God forbid, Cap and Trade and VAT? Enployers are picking up his tab and those of us who work, it cannot be sustained. Too bad a Harvard Law degree doesn't require an MBA. Obama is totally inept.
You know, it's always fun to watch the Democrat party scream and rant about PAYGO until they're in charge, and then suddenly, magically, PAYGO isn't important anymore, but you have to deal with the crisis of the day.
It's all a big scam. In order to properly correct the economic imbalance of government, the States MUST cut back their overhead. Yes, that means that 300,000 teachers will lose their jobs. But that also means that the States have either provided too many teaching jobs to begin with, or have provided benefit growth too large to the teachers they have to be sustainable. Either you can blame the Unions, for excess growth, or the States for excess hiring, but you can't blame the citizens who are paying an ever larger tax bill, and expect them to continue paying for it forever. Sooner or later, they WILL say 'HELL NO' as I expect they will LOUDLY proclaim in November of 2010.
obama says that unless the government keeps spending there will be another recession. His past rhetoric claims that obamacare, bailouts, stimilus, takeovers and payoffs have solved the problem.
Now he wants more bailouts.
Maybe he should speak with the governor of N.J. and get some fresh ideas that will work!
Mr. Obama: America's checking account is WAY overdrawn and our numerous credit cards are tapped out for the next several generations. STOP YOUR INSANE SPENDING NOW!!!!!
Ditch the tax breaks President Obama, and keep unemployment extensions, there are too many people still unemployed, courtesy of the shrub and his Brown Shirts.
If we start trying to fight the deficit now, we will prove we learned nothing when Truman pulled the plug too early on Keynesian economics.
sure, go ahead (emperor's grin).
how do spend your way out of debt? these spendaholics are going to break this country can say greece
every thing you touch at wal-mart has made in china lable,change it to made in usa everybody would be working
This administration has spent themselves into oblivion.The purpose of the bipartician commission is to give them the political cover to increase people's taxes to pay for all this debt they are running up.They just want to keep interest rates low and not talk about increased taxes until after the Nov. elections.This country is bankrupt. Everbody knows this except the president and members of Congress.We were told by this president that the first stimulus worked and that the economy had recovered not too long ago.Now, that the public can see that isn't true we are told we need to spend some more.Pure,bolony !!!! which is a lot of what my family has been eating since i've been unemployed for nearly a year and half.How about putting people back to work .We don't need to spend 400 million for housing, school construction and business development in the Palestinian territories when we have so many people here at home that need help.
Few people appreciate just how close we can came to a complete economic meltdown. We were teetering right on the edge, and if we had fallen over, the financial disaster we would have found ourselves in would have made the Great Depression look like a picnic by comparison. You have all this complaining about the 10% unemployment, but nearly every economisits agree that without the stimulus we would have had more like 25% unemployment. The stimulus bought us back from the brink. Now the economy is recovering, the stock market it up, businesses are slowly starting to hire again.
To all those griping about the increasing deficit and Obama "spending our way out of a recession" – I'll use this analogy: A business owner hired a driver to make deliveries for him. Unfortunately, the driver was reckless and got in a crash with their sole delivery truck. The business lost all this money due to the smashed merchandise and insurance payments. So the owner got rid of the reckless driver and hired a new guy. The truck still needed to be fixed so it could be driven, so the new driver took it to a repair shop. When he got the bill, the owner just complained that new driver was costing him money like the old one.
Republicans accuse obama for too much goverment speding....but they forget under W. BUSH government spending increased. they want to cut taxes for working and middle class families? lmao! Since when?
Does he have no sense of business at all, 50 billion more???? I guess when you own the presses you can print all the play money you want. Make no mistake young people, if you don't figure it out now you will. You will be giving 50 to 70 percent of your check to pay for the spending now being done by a government out of control.
With 10% unemployment and a bloated government employment? No thanks.
PAYGO – cut the two unfunded wars and bring our military home, and cut the tax breaks for the wealthy, cut congressional salaries and benefits by 50%.
JUST DO IT.
This guy is a nitwit
Seems like the gov. is spending it faster than it can be printed. Reminds me of Monopoly...when one person gets ALL the $$$, the game is over. In this case it looks like Obumble and Co. are hell bent on nationalizing EVERYTHING. Sad day...
The United States continues down an unsustainable path. Our demise is mapped out in front of us, we must change our over-spending ways (and promises) or it will (likely) be worse than what a terrorist attack would do to our country.
We need leadership that will make hard decisions, pragmatic decision for the good of the country. Decisions that will likely result in only one term in office.....but the painful and right steps for our country.
The economy can recover only if there is employment. When chanting globalization, one should also remember that when most of the items you use are manufactured out side the country thee would be a flight of wealth to the country which manufacturers the product. Its all right if the country manufacturing is competing and deregulating its currency. This is not the case. The currency is severely under valued that it can beat any competition from any other country, control access to its economy and business that it doesn't allow companies from outside compete for its back yard. It has all the fruits of capitalism but protects its economy from out side. We are seeing where its all leading to. US is virtually bankrupting itself and china is buying countries/companies and has so much reserve it doesnt know what to do with it.
Obama apparently isn't an idiot, but he sure acts like one. He apparently can't get it through his thick skull that spending money we don't have is a truly idiotic idea! He also doesn't seem to understand what's obvious to a majority, 56%, of Americans that increases in government spending will hurt the economy. Only a thick-witted 24% thing otherwise.
"Obama also sought congressional support for proposals totaling about $50 billion to help state and local governments avoid layoffs and service reductions."
Oh, absolutely! Gotta protect his good buddies in the SEIU and AFSCME. Doesn't matter that private-sector employment has been hammered, we must protect the government parasites at all costs. After all, it's only ordinary taxpayers who will wind up paying those costs, and who cares about them?