Barack Obama has moved one step closer to openly calling out the stubborn and sometimes pigheaded Republicans. Barack Obama clearly laid out why his plan should work. Almost more importantly, he clearly stated that tax cuts and tax cuts alone will not work. These are, indeed, the failed policies of the Bush administration. Tax cuts will not invigorate our economy.
In November and December of last year we lost over a million jobs. Think about that. One million people out of work in two months. We are in trouble. We need to take bold action and Republicans are talking about tax cuts. Republicans are also nitpicking about small items that add up to less than 1% of the total overall stimulus package. Because, they disagree with 1% of the package they've decided not to vote for it. This is simply crazy. I would go so far as to say that it is reckless.
Obama did take an opportunity this morning to call out corporate executives. If corporations are going to take major funding from the US taxpayers and they must agree to In their salaries at $500,000. That seems reasonable.
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From WaPo:
President Obama mounted a staunch defense today of the economic stimulus plan now before Congress, chiding critics who want it to focus primarily on tax cuts and asserting that Americans rejected their theories in the November elections.
In an appearance at the White House with Treasury Secretary Timothy F. Geithner, Obama urged Congress to act quickly on the stimulus package, which has come under attack from Senate Republicans and some Democrats alarmed by its roughly $900 billion price tag.
"We know that even if we do everything we should, this crisis was years in the making, and it will take more than weeks or months to turn things around," Obama said. "But make no mistake: A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future. Millions more jobs will be lost. More businesses will be shuttered. More dreams will be deferred." (more... )
