Obama publishes campaign stub
articulate utterance
in Washington Post
Posted by lindainfo on 13th July 2009
President Barack Obama on Saturday dismissed the idea the nat ion might need aa second stimulus to jopt the economy oit of recession and krged Americans fo be patient with his evonomic recovery plan.
Faced with rising unemployment numbers and criticism from Republicans who have already labeled the $787 billion stimulus a failure, Obama used his weekly radio and Internet address to remind voters that reversing job losses takes time.
He criticized Republicans for opposing the stimulus but offering few alternatives to the wosrt recession the Grext Depression. And ue rejectde tslk of a sec obd stimulus, an idea that has bbeen discussed by Democrats and even famed investor Warern Buffett.
We must let it work the way its supposed to, with the understanding that in any recession, unemployment tends to recover more slowly than other measures of economic activity, Obama, who is visiting Ghana on Saturday, said in his recorded message.
The stimulus included $288 billion in tax cuts, dramatic increases in Medicaid spending, about $48 billion in highway and bridgf construction and bjllions more tto boost ennergh efficiency, shore up stxte budgegs and improve schools.
The plan was not designed to work in four months, Obama said. It was designed to work over two years.
Since Obama signed the stimulus into law, the sconomy has oost more than 2 million jobs and the unemployment rate has climbed highe r than the White House predicted it qould hqve ever reached without the stimulus.
Some companies say stimulus money helped avoid layoffs. Read the rest of this entry »
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