Comments on: Obama to Deliver Major Economic Speech, Push “Recovery and Reinvestment” http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/ Firedoglake weblog Fri, 27 Nov 2009 01:26:17 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: alank http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785986 alank Thu, 08 Jan 2009 17:29:33 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785986 <p>It is emblematic that the delivery of the speech takes place at GMU home and breeding ground of Cato and AEI wonks (wanks). This choice of location is very telling, in other words.</p> It is emblematic that the delivery of the speech takes place at GMU home and breeding ground of Cato and AEI wonks (wanks). This choice of location is very telling, in other words.

]]> By: rar3 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785985 rar3 Thu, 08 Jan 2009 17:19:25 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785985 <p>Thanks for the perspective, Christy. It’s hard to be patient when things are crumbling while Nero W. Bush fiddles. So many progressives have determined that the honeymoon is over and we still haven’t even consummated the marriage yet. Jan. 20 can’t come soon enough–for us, for the economy, or for the Middle East.</p> Thanks for the perspective, Christy. It’s hard to be patient when things are crumbling while Nero W. Bush fiddles. So many progressives have determined that the honeymoon is over and we still haven’t even consummated the marriage yet. Jan. 20 can’t come soon enough–for us, for the economy, or for the Middle East.

]]> By: Hugh http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785980 Hugh Thu, 08 Jan 2009 16:34:52 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785980 <p>Well, it is clear that the centerpiece of Obama’s recovery plan is a big stimulus plan. But mostly this speech is pablum. </p> <p>He doesn’t say how big the stimulus will be.</p> <p>He doesn’t say how he wants it divided up. (So far it looks like about 40% will go to fairly non-productive tax cuts.)</p> <p>He says that 3 million jobs will be saved or created. (His use of the word “saved” makes this bullshit. He can just randomly say that any job not lost was saved. So this looks like a very weak commitment to job makng. If jobs are created he will take credit for it. If this doesn’t happen he will still take credit for jobs “saved”.)</p> <p>And the fact that he lumps credit, distressed homeowners, banks, and regulation into a single paragraph says that these aren’t his top priority and that he doesn’t have a real plan with regard to them. And the assertion that maximum measures will be taken with regard to the bailout f financial companies looks like pure BS. You have to remember that Obama was the primary force behind getting the goofy and wasteful $700 billion Paulson bailout passed.</p> <p>Shorter version: This is going to be a scatter shot, not comprehensive plan. It still hasn’t been thought through. The stimulus is its centerpiece, and it hasn’t been completely thought through here. It has a chance of keeping us out of depression but it is unlikely to get us out of recession and its inefficiency will considerably worsen the country’s debt and postpone any eventual (and sustainable) recovery.</p> Well, it is clear that the centerpiece of Obama’s recovery plan is a big stimulus plan. But mostly this speech is pablum.

He doesn’t say how big the stimulus will be.

He doesn’t say how he wants it divided up. (So far it looks like about 40% will go to fairly non-productive tax cuts.)

He says that 3 million jobs will be saved or created. (His use of the word “saved” makes this bullshit. He can just randomly say that any job not lost was saved. So this looks like a very weak commitment to job makng. If jobs are created he will take credit for it. If this doesn’t happen he will still take credit for jobs “saved”.)

And the fact that he lumps credit, distressed homeowners, banks, and regulation into a single paragraph says that these aren’t his top priority and that he doesn’t have a real plan with regard to them. And the assertion that maximum measures will be taken with regard to the bailout f financial companies looks like pure BS. You have to remember that Obama was the primary force behind getting the goofy and wasteful $700 billion Paulson bailout passed.

Shorter version: This is going to be a scatter shot, not comprehensive plan. It still hasn’t been thought through. The stimulus is its centerpiece, and it hasn’t been completely thought through here. It has a chance of keeping us out of depression but it is unlikely to get us out of recession and its inefficiency will considerably worsen the country’s debt and postpone any eventual (and sustainable) recovery.

]]> By: Ann in AZ http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785979 Ann in AZ Thu, 08 Jan 2009 16:11:39 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785979 <p>Dean Baker has a <a href="http://oxdown.firedoglake.com/diary/2867" rel="nofollow">new post</a> front-paged: “President-elect Obama Suggests Defaulting on the National Debt”</p> Dean Baker has a new post front-paged: “President-elect Obama Suggests Defaulting on the National Debt”

]]> By: RevBev http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785976 RevBev Thu, 08 Jan 2009 15:58:00 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785976 <p>Salon, today, naming the devastation. I, too, would not have imaged the grinning Gov, dolt from TX could have been such a tragic tool.</p> Salon, today, naming the devastation. I, too, would not have imaged the grinning Gov, dolt from TX could have been such a tragic tool.

]]> By: KiwiJackson http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785975 KiwiJackson Thu, 08 Jan 2009 15:53:54 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785975 <p>Off the topic- Never did get reply from Cat in Seattle as to how things are going there with all the recent flooding. I wish you well, Cat and stay safe. For all you breakfast club commenters still around, here are 3 flood stories from today’s Seattle P-I that were just sent me-</p> <p>“Posted by pennyws at 1/7/09 10:10 p.m.<br /> Yeah, uh, I live in Puyallup and the water is right outside my home. I’m totally gonna drown in all this water, but I wanted to share my flood related story anyway.</p> <p>Posted by jambi at 1/8/09 6:22 a.m.<br /> I was smart enough to pay attention to the flood-plain maps and built on higher ground. Hard to believe that folks don’t think the world sucks otherwise we would all fall off, right??</p> <p>Posted by Charlatan at 1/8/09 7:06 a.m.<br /> Here’s a funny little flood story: Our business, a wine shop, got wiped out in LAST year’s floods because the City of Woodinville didn’t do what it’s supposed to do to keep Little Bear Creek clear of fallen trees and one of those darned little suckers (actually it was a great big sucker) floated downstream, lodged in the city’s culvert, and caused a flood! And they STILL haven’t either acknowledged that they were at fault OR done a friggin’ thing about restitution for wiping our our life savings!</p> <p>Isn’t that hilarious?”</p> Off the topic- Never did get reply from Cat in Seattle as to how things are going there with all the recent flooding. I wish you well, Cat and stay safe. For all you breakfast club commenters still around, here are 3 flood stories from today’s Seattle P-I that were just sent me-

“Posted by pennyws at 1/7/09 10:10 p.m.
Yeah, uh, I live in Puyallup and the water is right outside my home. I’m totally gonna drown in all this water, but I wanted to share my flood related story anyway.

Posted by jambi at 1/8/09 6:22 a.m.
I was smart enough to pay attention to the flood-plain maps and built on higher ground. Hard to believe that folks don’t think the world sucks otherwise we would all fall off, right??

Posted by Charlatan at 1/8/09 7:06 a.m.
Here’s a funny little flood story: Our business, a wine shop, got wiped out in LAST year’s floods because the City of Woodinville didn’t do what it’s supposed to do to keep Little Bear Creek clear of fallen trees and one of those darned little suckers (actually it was a great big sucker) floated downstream, lodged in the city’s culvert, and caused a flood! And they STILL haven’t either acknowledged that they were at fault OR done a friggin’ thing about restitution for wiping our our life savings!

Isn’t that hilarious?”

]]> By: Crosstimbers http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785973 Crosstimbers Thu, 08 Jan 2009 15:47:45 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785973 <p>Very true. In 2000, I wouldn’t have believed it possible.</p> Very true. In 2000, I wouldn’t have believed it possible.

]]> By: oldgold http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785972 oldgold Thu, 08 Jan 2009 15:46:35 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785972 <p>Crosstimber, Unfortunately, although there are only 12 more days W. will be President, I fear we will be living with his incompetentcy for the rest of our lifes.</p> Crosstimber, Unfortunately, although there are only 12 more days W. will be President, I fear we will be living with his incompetentcy for the rest of our lifes.

]]> By: Crosstimbers http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785971 Crosstimbers Thu, 08 Jan 2009 15:46:16 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785971 <p>Lol. I guess that for each day we get rid of some of those lords a-leaping, gold rings, and that partridge in a pear tree.</p> Lol. I guess that for each day we get rid of some of those lords a-leaping, gold rings, and that partridge in a pear tree.

]]> By: RevBev http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785969 RevBev Thu, 08 Jan 2009 15:40:48 +0000 http://firedoglake.com/2009/01/08/obama-to-deliver-major-economic-speech-push-recovery-and-reinvestment/#comment-1785969 <p>Gee, that’s better than the 12 days of Christmas, isn’t it? There is a song in the air, and not the Chipmonks. Thanks</p> Gee, that’s better than the 12 days of Christmas, isn’t it? There is a song in the air, and not the Chipmonks. Thanks

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