Author Topic: Economic stimulus to dominate Obama's first 100 days in office  (Read 457 times)

0 Members and 1 Guest are viewing this topic.

Offline Americanhero1

  • Silver Star JTF Member
  • ********
  • Posts: 7617
  • I ain't going anywhere
Economic stimulus to dominate Obama's first 100 days in office
« on: January 18, 2009, 10:55:51 AM »
WASHINGTON – The economic crisis that will dominate Barack Obama's first 100 days as president, and beyond, will give him a rare chance to enact big portions of his agenda that otherwise might have languished for months or years.

Not since Franklin D. Roosevelt has a new president been poised to pack so many ambitious, costly — and, under more normal circumstances, highly contentious — projects into one fast-moving bill. As in 1933, a frightening economic collapse makes the quick political work possible, choking off longer debates and possible opposition that many of the initiatives would have faced in better times.

Congress is working on a mammoth stimulus bill, costing $825 billion or more, to treat the sick economy. Obama is using it as a vehicle for an array of priorities, including billions of dollars for renewable energy, education and health care innovations.

The economic crisis that drives this train, of course, also poses severe challenges to the new president. His lofty approval ratings could collapse if the number of jobs and home values keep falling. And with the intense focus on stimulating the economy, he will postpone priorities that do not fit into the legislative package.

Obama already has said he will delay his campaign promise to raise taxes on the wealthy. He also has signaled there will be no prompt action on sticky issues such as revisiting the North America Free Trade Agreement, changing the "don"t ask, don't tell" policy for gays in the military, and making it easier for workers to unionize.

Aside from the economy, Obama's biggest task will be to wind down the Iraq war and make Afghanistan more stable.

But those tasks will take a couple of years or more. Obama, meanwhile, can have an immediate and symbolically potent impact on several fronts by issuing executive orders to reverse or change policies of President George W. Bush.

Possibly within hours of being sworn in, Obama plans to order the closing of the U.S. military prison at Guantanamo Bay. He also has signaled plans to overturn the so-called "Mexico City policy," which forbids U.S. funding for family planning programs that promote and offer abortion. Other early executive orders could lift Bush's limit on federal funding of embryonic stem cell research, and allow California to set tougher emission standards for cars.

Obama says he will convene a "fiscal responsibility summit" in February to discuss the long-term funding problems of Medicare and Social Security. He also plans to address government ethics standards, including rules barring high-ranking government officials from going quickly into lobbying jobs, said his spokesman Robert Gibbs.

"We will have more to say about that at the very beginning," Gibbs said in an interview.

But the biggest priority, Gibbs said, "is getting this economy back on track." The multibillion-dollar stimulus bill should help do that, he said, as it paves the way for legislative action that once seemed more problematic.

During the campaign, for instance, Obama called for spending $10 billion a year, for five years, to convert paper medical records to electronic formats, a move meant to save money and reduce medical errors. The proposal's fate was uncertain on Election Day. But lawmakers now say the two-year stimulus bill is likely to include $20 billion for the effort.

Barring unforeseen complications, that money will be added with relatively little attention and debate, as the bigger problems of job losses, home foreclosures and business failures continue to dominate the nation's attention.

"It would have been so hard to get it" without the massive spending bill as a vehicle, said one top Obama aide. She would speak only on background because she was not authorized to discuss legislative strategies.

Indeed, some lawmakers and aides say Obama has so many chances to tuck new or expanded programs into the legislation that he essentially can accomplish his First 100 Days agenda (a term he avoids) in one huge bill. How much credit, or criticism, he might receive is unclear, because many components will not get the attention they would have under a more piecemeal approach.

Consider Pell Grants, the most important federal aid program for college students. Obama campaigned to expand the program, which this year granted up to $4,700 each to about 6 million students, virtually all with family incomes under $50,000.

Congress and presidents have not fully funded Pell Grants for 30 years. But now they may come close by allocating $15.6 billion for the grants in the stimulus package.

"It's the only vehicle" that could do the job so quickly, said House Appropriations Chairman David Obey, D-Wis.

Other Obama goals that appear likely to be in the economic bill include, although negotiations in Congress continue:

_Doubling renewable energy production ($8 billion), and making public buildings more energy-efficient ($31 billion).

_Bringing high-speed Internet service to more communities and rural areas ($6 billion).

_Extending health care subsidies for the recently unemployed under the COBRA program, and for former Medicaid recipients under programs such as TMA, or transitional medical assistance ($39 billion).

_Extending supplemental grants for Temporary Assistance for Needy Families ($2.5 billion).

Obama will spend much of his first 100 days lobbying for the economic package and, if it passes, launching its implementation. He also seems likely to move quickly on another campaign promise: to seek a more bipartisan and inclusive governing style than those recently seen in Washington. Soon after his election he met with Republican lawmakers, and his team has energetically wooed GOP lawmakers on economic matters even though there are fewer Republicans in Congress now than when he was elected.

The country faces huge challenges, said Gibbs, who will be the White House press secretary.

"All of these won't get addressed in week one or month one," he said, but Obama will confront all of them in time.

http://news.yahoo.com/s/ap/20090118/ap_on_go_pr_wh/obama_first100_days

Offline cjd

  • Silver Star JTF Member
  • ********
  • Posts: 8996
Re: Economic stimulus to dominate Obama's first 100 days in office
« Reply #1 on: January 18, 2009, 11:30:58 AM »
I am sick of this stupid monkey already and he has not even been sworn in. Whats with all this comparing himself to Abraham Lincoln and Franklin D. Roosevelt. The Abraham Lincoln thing I don't get at all and the Roosevelt association is really like comparing apples and oranges. If this ape had any smarts he would see from history that very little recovery was gained from the New Deal. The depression lasted almost 10 to 15 years in one form or another. Only WW2 and the great need for products and supplies during and after the war really put people back to work. Something else that President Monkey should consider is the fact that the nation was not already trillions of dollars in debt and was able to manage taking on some debt. Doesn't this stupid animal understand that unless he gets business to produce something that brings money into the economy things will never get any better. Its like shoveling [censored] against the tide. It seems to me that the liberals want to completely bankrupt everyone in the country. At that point the public will be just where they have been trying to get us for years.
He who overlooks one crime invites the commission of another.        Syrus.

A light on to the nations for 60 years


Offline Zionist Revolutionary

  • Pro JTFer
  • *****
  • Posts: 818
Re: Economic stimulus to dominate Obama's first 100 days in office
« Reply #2 on: January 18, 2009, 01:30:13 PM »
The comparison to Lincoln is ploy by the media to enhance his cult of personality, but the comparison to FDR is spot-on. Unfortunately, not in the way most people would think.

FDR was a socialist, Jew-hating pig. He too was worshipped as the "Messiah" by Jews in the 1930's who thought of him as a god, instead of the REAL G-d of the Universe. Barack Hussein Obama is worse of course, because he actively hates this country and wants to destroy it. And his economic policies will do that.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=86240

The Federal Government now has debt that exceeds the net worth of its citizens. The so-called economic "stimulus" package will SOAR America into new echelons of debt. This kind of deficit spending will make the dollar worthless. The Great Depression will be nothing compared to the Obama depression.

This is why we need to balance the budget and STOP spending money. The communists want us to keep spending money so we collapse economically.