Funny how the wacko left likes to say Bush and Co. are fear mongering when it comes to issues like our national security....listen to this shit from the Obama camp. Funny, the UAW is one of the biggest contributors to Obama they had..millions of dollars to his camp..
This is fear mongering at its finest.
Obama Wants Rescue Plan 'Right Away'
By BETH FOUHY
,
AP
posted: 3 HOURS 55 MINUTES AGO
comments: 1937
filed under: Political News, The Obama Presidency
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<!-- Enhancement List size = 5 --><!-- adding key 3.1 --><!-- adding key 3.2 --><!-- adding key 3.3 --><!-- adding key 6.4 --><!-- adding key 10.5 -->CHICAGO (Nov. 24) - With the economy in crisis, President-elect Barack Obama urged the new Congress to pass a quick economic stimulus bill, pledged help for the troubled auto industry and blessed the Bush administration's bailout of the financial industry.
Even so, he conceded, "The economy is likely to get worse before it gets better," a downbeat forecast, delivered 57 days before he takes the oath of office and as Americans headed into the year-end holiday season.
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Pablo Martinez Monsivais, AP
President-elect Barack Obama introduces Treasury Secretary-designate Timothy Geithner, left, and Christina Romer, his pick for chairwoman of the Council of Economic Advisers at a news conference on Monday.
<!-- enhAlign: Centered, enhSize: Large--><!-- enhAlign Number: 3, enhSize Number: 3--><!-- contentType = html--><!-- column slot = article_paragraph_3_2-->Also See: After Election, Obama Skips Church for Gym
CNN.com: Players Emerge for National Security Team
Political Machine: Quick Stats on Timothy Geithner
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Barring swift action, "most experts now believe that we could lose millions of jobs next year," he said, urging the newly elected Congress to act "right away" on his plans after opening its session on Jan. 6.
At a news conference, Obama was critical of the Big Three automakers, saying he was surprised they did not have a better-thought-out plan for their future before asking Congress to approve $25 billion in emergency loans.
He said once he sees a plan, he expects "we're going to be able to shape a rescue."
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What’s Your Take?
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Obama declined to say how large a stimulus package he wants from Congress. Democratic lawmakers speculated over the weekend that the price tag could reach $700 billion over two years as the nation struggles to emerge from a recession compounded by a credit crunch. "It's going to be costly," the president-elect said.
The stock market had been climbing before Obama spoke but then slipped during his news conference, reducing its gain from 300 points to 200. It rose higher again later. Analysts said investors were looking for more specifics of an economic stimulus plan, and also wanted Obama to state that he would set aside a plan to raise taxes on the richest Americans.
Obama made his comments as he unveiled the top members of his economic team, beginning with New York Federal Reserve President Timothy Geithner to be his treasury secretary. Geithner, 47, is a veteran of financial crises at home and overseas and has worked closely with the Bush administration in recent months.
Obama chose Lawrence Summers as director of his National Economic Council. Summers was treasury secretary under former President Bill Clinton.
This is fear mongering at its finest.
Obama Wants Rescue Plan 'Right Away'
By BETH FOUHY
,
AP
posted: 3 HOURS 55 MINUTES AGO
comments: 1937
filed under: Political News, The Obama Presidency
Text SizeAAA
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<!-- Enhancement List size = 5 --><!-- adding key 3.1 --><!-- adding key 3.2 --><!-- adding key 3.3 --><!-- adding key 6.4 --><!-- adding key 10.5 -->CHICAGO (Nov. 24) - With the economy in crisis, President-elect Barack Obama urged the new Congress to pass a quick economic stimulus bill, pledged help for the troubled auto industry and blessed the Bush administration's bailout of the financial industry.
Even so, he conceded, "The economy is likely to get worse before it gets better," a downbeat forecast, delivered 57 days before he takes the oath of office and as Americans headed into the year-end holiday season.
<!-- enhAlign: Centered, enhSize: Large--><!-- enhAlign Number: 3, enhSize Number: 3--><!-- contentType = html--><!-- column slot = article_paragraph_3_1-->
President-elect Barack Obama introduces Treasury Secretary-designate Timothy Geithner, left, and Christina Romer, his pick for chairwoman of the Council of Economic Advisers at a news conference on Monday.
<!-- enhAlign: Centered, enhSize: Large--><!-- enhAlign Number: 3, enhSize Number: 3--><!-- contentType = html--><!-- column slot = article_paragraph_3_2-->Also See: After Election, Obama Skips Church for Gym
CNN.com: Players Emerge for National Security Team
Political Machine: Quick Stats on Timothy Geithner
<!-- enhAlign: Centered, enhSize: Large--><!-- enhAlign Number: 3, enhSize Number: 3-->
Barring swift action, "most experts now believe that we could lose millions of jobs next year," he said, urging the newly elected Congress to act "right away" on his plans after opening its session on Jan. 6.
At a news conference, Obama was critical of the Big Three automakers, saying he was surprised they did not have a better-thought-out plan for their future before asking Congress to approve $25 billion in emergency loans.
He said once he sees a plan, he expects "we're going to be able to shape a rescue."
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What’s Your Take?
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Obama declined to say how large a stimulus package he wants from Congress. Democratic lawmakers speculated over the weekend that the price tag could reach $700 billion over two years as the nation struggles to emerge from a recession compounded by a credit crunch. "It's going to be costly," the president-elect said.
The stock market had been climbing before Obama spoke but then slipped during his news conference, reducing its gain from 300 points to 200. It rose higher again later. Analysts said investors were looking for more specifics of an economic stimulus plan, and also wanted Obama to state that he would set aside a plan to raise taxes on the richest Americans.
Obama made his comments as he unveiled the top members of his economic team, beginning with New York Federal Reserve President Timothy Geithner to be his treasury secretary. Geithner, 47, is a veteran of financial crises at home and overseas and has worked closely with the Bush administration in recent months.
Obama chose Lawrence Summers as director of his National Economic Council. Summers was treasury secretary under former President Bill Clinton.
