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Obama: The Fundamentals of our Economy are Sound

 
 
Reply Sun 15 Mar, 2009 03:22 pm
At least he didn't say they are 'strong.'

But with the way the economy has sunk since the trillions he and the dems have spent since he was sworn into office, I guess this is appropriate.

The economy is worse now than when McCain made his statement; is Obama really that stupid?

Hmm. Where is the mocking press now? And Libs making fun of nonsense statements? Wonder if Jon Stewart will mention this? I see this AP story, but this is hardly carrying the weight of McCain's misstatement.

Or is there a tad of bias going on?

Quote:

White House says economy is sound despite ‘mess’
The Associated Press

Sun, Mar 15, 2009 (12:42 p.m.)

The economy is fundamentally sound despite the temporary "mess" it's in, the White House said Sunday in the kind of upbeat assessment that Barack Obama had mocked as a presidential candidate.

Obama's Democratic allies pleaded for patience with an administration hitting the two-month mark this week, while Republicans said the White House's plans ignore small business and the immediate need to fix what ails the economy. After weeks projecting a dismal outlook on the economy, administration officials _ led by the president himself in recent days _ swung their rhetoric toward optimism in what became Wall Street's best stretch since November.

During the fall campaign, Obama relentlessly criticized his Republican opponent, Sen. John McCain, for declaring, "The fundamentals of our economy are strong." Obama's team painted the veteran senator as out of touch and failing to grasp the challenges facing the country.

But on Sunday, that optimistic message came from economic adviser Christina Romer. When asked during an appearance on NBC's "Meet the Press" if the fundamentals of the economy were sound, she replied: "Of course they are sound."

"The fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology," she said. "We know that _ that temporarily we're in a mess, right? We've seen huge job loss, we've seen very large falls in GDP. So certainly in the short run we're in a _ in a bad situation."

Just a week ago, White House Office of Management and Budget director Peter Orszag declared that "fundamentally, the economy is weak." Days later, Obama told reporters he was confident in the economy.

"If we are keeping focused on all the fundamentally sound aspects of our economy, all the outstanding companies, workers, all the innovation and dynamism in this economy, then we're going to get through this," Obama said, striking a tone that his top aides mimicked.

Despite the new enthusiasm at the White House and on Wall Street, there was little solid evidence to suggest an end was in sight to the severe recession that has already cost 4 million American jobs, driven down home values and sent foreclosures soaring. Meanwhile, Chinese Premier Wen Jiabao said he was concerned about the safety of the estimated $1 trillion his country has invested in U.S. government debt.

Obama sought to downplay the worries.

"There's a reason why even in the midst of this economic crisis you've seen actual increases in investment flows here into the United States," Obama said Saturday in the Oval Office. "I think it's a recognition that the stability not only of our economic system, but also our political system, is extraordinary."

The seesaw message from the new administration drew sharp criticism from Senate Republican leader Mitch McConnell, who said Obama's team was exploiting the economic situation for political gain.

"They're taking advantage of a crisis in order to do things that had nothing to do with getting us into the crisis in the first place," McConnell said.

Democratic lawmakers promoted a potential plan to help move so-called toxic assets off bank ledgers. Rep. Barney Frank, D-Mass., said discussions were under way, but would not be rushed.

"If they wait a week or two more, no one ought to get all in a twitter about that. It's very important to do it right," he said.

Also Sunday, the president's team largely rejected suggestions that officials were considering taxing employees' health benefits. As a candidate Obama had called such a proposal a "multitrillion-dollar tax hike."

"I'm not leaving the door open," said Austan Goolsbee, staff director of the Council of Economic Advisers, responding to a report in Sunday's New York Times. "The president has laid out a series of clear principles on the health plan that we will do whatever it takes to get affordable quality coverage to all Americans."

Romer said she wouldn't take the idea off the table, but she added that Obama hasn't supported it. Larry Summers, the president's chief economic adviser, said it wasn't part of Obama's principles but left open the possibility of such a move from Congress, where Democrats control both chambers.

Republicans refused to accept Democrats' plans. McConnell said the GOP would work to amend the proposal in the Senate, but not put forward a wholesale plan.

Rep. Eric Cantor, the GOP's No. 2 leader in the House, promised an alternative budget, in part to counter Democratic attacks that his party provided only "no" but not other ideas and in part to help small businesses, whom Cantor said Obama ignores.

In contrast to Cantor's charge, Obama planned to provide billions of dollars in federal lending aid aimed at struggling small business owners.

The broad package of measures to be announced Monday includes $730 million from the stimulus plan that will immediately reduce small-business lending fees and increase the government guarantee on some Small Business Administration loans to 90 percent, according to officials briefed on the plan who demanded anonymity because the announcement had not been made.

McConnell appeared on ABC's "This Week." Summers appeared on ABC and on CBS's "Face the Nation." Romer and Cantor appeared on NBC. Goolsbee and Frank appeared on "Fox News Sunday."

Link: http://www.lasvegassun.com/news/2009/mar/15/white-house-says-economy-is-sound-despite-mess/


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Type: Discussion • Score: 14 • Views: 3,470 • Replies: 78
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Robert Gentel
 
  1  
Reply Sun 15 Mar, 2009 03:48 pm
@A Lone Voice,
A Lone Voice wrote:
Hmm. Where is the mocking press now? And Libs making fun of nonsense statements? Wonder if Jon Stewart will mention this? I see this AP story, but this is hardly carrying the weight of McCain's misstatement.

Or is there a tad of bias going on?


The campaign is over. When McCain said it the Obama camp used it for PR. If Obama had said this during the campaign the McCain camp would have too.

But outside of the circus that is campaign politics, it's just meaningless pep talk.

I had no problem with what McCain said. But I understand why it was used against him and think that if Obama had struck that tone then it would have been used against him as well.
0 Replies
 
farmerman
 
  1  
Reply Sun 15 Mar, 2009 03:55 pm
@A Lone Voice,
(((((((YAWN)))))))).

But, having been responsible for most all of the financial problems, the GOP is still univolved in any solutions, isnt it? HMMMMMM,
rabel22
 
  1  
Reply Sun 15 Mar, 2009 04:03 pm
@farmerman,
Your going to have too prove too me that the republicans were responsable for the downturn. After all a war always boosts the economy. And the recession dident start untill Obama's government took over.
farmerman
 
  1  
Reply Sun 15 Mar, 2009 04:28 pm
@rabel22,
I yield to your superior insights. Very Happy Wink
0 Replies
 
A Lone Voice
 
  1  
Reply Sun 15 Mar, 2009 04:58 pm
@farmerman,
Quote:

(((((((YAWN)))))))).

But, having been responsible for most all of the financial problems, the GOP is still univolved in any solutions, isnt it? HMMMMMM,


So, you agree with Obama? Our economy is currently sound?

Next, I expect Obama to tell us we just need to do our patriotic duty and go shopping. Then again, he kind of did when he told us to buy stocks.

What a moron. Hopefully, he will only have one term, and the damage he inflicts on the country will be minimal and fixable. Think Jimmy Carter...

0 Replies
 
dyslexia
 
  1  
Reply Sun 15 Mar, 2009 05:05 pm
@rabel22,
rabel22 said
Quote:
the recession dident start untill Obama's government took over.

Drunk
edgarblythe
 
  1  
Reply Sun 15 Mar, 2009 05:20 pm
@dyslexia,
dyslexia wrote:

rabel22 said
Quote:
the recession dident start untill Obama's government took over.

Drunk

I shot the sherriff - - -
0 Replies
 
DrewDad
 
  1  
Reply Sun 15 Mar, 2009 05:53 pm
The fundamentals are sound. Hangovers still hurt, though.
DrewDad
 
  1  
Reply Sun 15 Mar, 2009 05:54 pm
@DrewDad,
(I'll add, I agreed with McCain when he made his similar statement.)
0 Replies
 
hawkeye10
 
  0  
Reply Sun 15 Mar, 2009 06:00 pm
let's see now.......Infrastructure a mess from decades of underinvestment, health care system non op, debt load huge, education system poor, families extremely stressed, communities weak due to lack of caring about community, huge wave of boomers about to retire and their pensions are massively underfunded....

what have we got to worry about, our economy is strong, Obama said so so it must be true.
0 Replies
 
Below viewing threshold (view)
rabel22
 
  2  
Reply Mon 16 Mar, 2009 10:44 pm
@H2O MAN,
Where as everything Bush and his government said was the honest too God truth.
H2O MAN
 
  -3  
Reply Tue 17 Mar, 2009 06:02 am
@rabel22,


Bush saw the housing troubles coming and Barney Frank along with his Liberal friends
stopped Bush from doing anything about it. The left created the failure & blamed Bush.
revel
 
  1  
Reply Tue 17 Mar, 2009 12:16 pm
Obama using those words after the dust up when McCain used them does seem a bit dumb PR wise. Don't know if anyone is talking about it, don't watch the news, but I read it yesterday a couple of times on the net.
revel
 
  1  
Reply Tue 17 Mar, 2009 12:34 pm
@revel,
[slight change in subject, but I dislike opening threads]

Speaking of McCain, has anyone been keeping up with dust up between McCain's daughter and Ingrahm and Coulter? The latest is with Ingrahm calling his daughter fat and McCain replying that sometimes he and his daughter don't agree on everything.

Quote:
Last week, ThinkProgress reported that hate radio host Laura Ingraham responded to Meghan McCain’s criticism of right-wingers like Ann Coulter by calling her “plus-sized.” Meghan shot back, telling Ingraham, “stop talking about my body.” Yesterday, Meghan ripped Ingraham on The View, saying, “Kiss my fat ass!”

Today, in his “Twitterview” with ABC’s George Stephanopoulos, Sen. John McCain (R-AZ) shied away from condemning Ingraham’s gratuitous attacks on his daughter. Stephanopoulos asked McCain, “What do you think of Meghan’s feud with Coulter and Ingraham?” McCain first said, “I’m proud of my daughter and she has a right to her opinions.” When asked if he agrees with his daughter, McCain did not say, simply stating, “like any family we agree on some things and disagree on others”:


http://thinkprogress.org/2009/03/17/mccain-twitter-ingraham/
0 Replies
 
farmerman
 
  1  
Reply Tue 17 Mar, 2009 01:19 pm
@H2O MAN,
Quote:
Bush saw the housing troubles coming and Barney Frank along with his Liberal friends
stopped Bush from doing anything about it. The left created the failure & blamed Bush
Further loads of revisionist crap. I invite you to visit the Cspan archives where Bush is in front of several "friendly" assemblies where he began touting how "Any AMerican must be placed in homes of their own" Then he went along and disclosed how....
0 Replies
 
farmerman
 
  1  
Reply Tue 17 Mar, 2009 01:29 pm
@H2O MAN,
Quote:


Obama lies and the economy dies.
Thats what the GOP wants us to believe. Yet the GOP has not lifted one teeny finger to help solve a problem that was largely of their creation. (Phil Gramms "demonitization schemes", Bush's "everybody own a house" scheme)
0 Replies
 
H2O MAN
 
  -3  
Reply Tue 17 Mar, 2009 02:00 pm



farmerman's been sipping the Liberal Kool-Aid again...
farmerman
 
  0  
Reply Tue 17 Mar, 2009 02:11 pm
@H2O MAN,
name on ething that the GOP has done in countering this free fall? All Ive seen is that theyve been totally obstructionist and have purposely not engaged any helpful debate ever since the Bush admin ended with such messes all about us.
 

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