Obama Calls for 'Grand Bargain' on Economy: 'Everybody's Going to Have to Give'

Remember, when democrats talk about everyone sacrificing, they mean everyone else, but not them or their programs. If you want to get rid of what doesn't work, start by getting rid of just about any government employee, agency and program out there, for starters.

Chesson,

Nothing has happened yet. While some "re-treads" are now in his administration, many of them know how to convert their ideas into reality. I couldn't claim the same for you, me, or some guy who decides to write about Neo Classical economics. To make anything really happen, policymakers need to work within the bounds of their senatorial constituents - elected by us. If you're unhappy with ideas that didn't work in the past, perhaps you ought to look at what exactly did not work. If it's anything from the Clinton administration, there were plenty of good ideas back then which never got going because there was a trenchant Republican blockade in place. Universal health care was on the table multiple times then. Blocked. Multiple times. Republicans. Tax credits for solar energy legislation. Blocked almost TWENTY times. Republicans.

Dan, I am not impressed that Obama was broke seven years ago. If my math is correct that would make him 40 years old at the time (Obama mentioned the fact that he was broke in his book). Are we going to take economic advice for the entire nation from someone who was a 40 year old deadbeat that could not manage his own personal finances? Obama has become an elitist through political corruption (read Rezko). He is now wealthy beyond the dreams of most Americans. Did he gain this wealth by being a great inventor? No! Did he gain this wealth by leading a corporation that produces goods and provides jobs for others? No! Did he gain his wealth through any REAL work? Again, the answer is no.

I don't think our nations economic future should be put in the hands of a man that seven years ago was broke. Nor do I think someone who has so easily moved into the elitist lifestyle, with no personal real world accomplishments, be the person we should rely on to tell the American people what THEY need to do.

Sorry...

Sounds like he's laying the groundwork to slash Social Security benefits. He didn't seem to mention at all reducing benefits for retired government workers. You know the ones that retire at the ripe old age of 48 or so. This is where all of the state revenues are going and he intends to bail out the states by drawing money out of Social Security.

Folks, I hear you talk about Obama taxing and spending, scoffing about having skin in the game and comparing him to FDR and calling him a fool. You are probably all republicans who just couldnt wait for George Bush to get us into a war with Iraq, but I didnt hear you complaining at that time about how we would pay for the war. You just had to elect GW Bush twice, though you failed to do you homework and discover that the man had wrecked the finances of every company that he ever lead. It is ok to spend hundreds of Billions of dollars to get into an unwinnable war but we cant afford to spend 10 cents to take care of ourselves. I think you Republicans have had your opportunity to run this country now for the last 8 years, and you have had no problem going from a balanced budget to a trillion dollar a year deficit. Your beloved George Bush and screwed up every single thing that he has touched. And now he is going door to door trying to convince us all of what a great job he did. You all need to shut up and sit down, your turn is over. We the people have spoken, and we are going to go a different direction. If it is ok to spend billions of dollars on unwinnable wars, then it is ok to spend billions of dollars cleaning up the mess that you have made and try to put our people back to work.
Oh and by the way, history sayd that FDR did a very good job as a president who took over during a Depression, and, he managed to win WW II. So dont run down FDR, go look in the mirror and run down that person who put George Bush in office, that is your fool!!
Ronnie Jackson

Yes, I believe! Well maybe not. No, I think he's going to run us into the ground.

Ditto for the republicans, Ken. Ditto for the republicans. They always think the law applies to someone other than them. The biggest bunch of liars I ever saw.

"Cutting things that don’t work" - Sounds like a Republican..... Lets see how many "SOCIAL" programs that "Don’t Work" get cut……

So What Happened To "YES WE CAN" ???.....Told ya to vote Hillary!

Poor timing if you ask me. He says all of this after returing from Hawaii. I feel his pain!

Dan - Believe me dude, Obama is just as much of an elitist as any Bush friend in DC. The key difference is that Republicans base their elitism on money whereas liberals have a nasty tendency to consider anybody who hasn't been through the tightly-controlled ultra-prestigious academic system as "below them". The intellectually-superior liberals in this country assess your value on your education and your pedigree. He may not have had millions when he was in school, but I can assure you he wasn't down at the bowling alley for tues night league-bowling either.

Obama is now showing his incompetence about the economy.

Throughout his campaign, Obama spoke critically against McCain and Bush, and their mistakes about the economy. He won the race by taking advantage of the poor and harping on the economic crisis. He said he had all the answers.

Now that he is nearly in office, he turns and ask for help. Where are the bright ideas Obama had while campaigning? Where are the solutions he claimed he already had for the economy? Where is the change he promised?

He is a liar and I do not think he can fix anything. He does not know what to do.

Nothing like a softball interview from a Democratic operative.....

All hype...no hope.

What a clown! 'Skin in the game' means more taxes...and those will be wasted

Jan & Ronnie, people on this board are being hard on Obama because he promised change. What he has proposed is not change. It is the same old politics of using every crisis to increase the size of government. What sense does it make to look at the mess that BOTH Republicans and Democrats have created in Washington and then conclude that to fix this mess we need to grant Washington even more money and more power?

I can understand that you had hope for Obama being different but he has shown with his cabinet picks and this spending bill that he will change nothing. Obama even commented on his cabinet picks. He said they were there to administer his vision but he would be the person responsible for change. Well, if Obama is going to personally take on this responsibility then we, the American people, need to hold HIM responsible for his choices.

My leg is tingling..... he is so wise..... the second coming is upon us..

Nikki,

Perhaps you were more comfortable with a president who was born sucking a silver spoon (read: Bush Jr), or perhaps with a president who sacrificed for his country, then married into boatloads of money (read: McCain). Until he got in politics, Obama created prosperity for himself and his family by working hard and teaching, nobody gave him anything until he got to the Illinois legislature. He's smarter than both of us combined and he actually listens to dissenting points of view. The country is in much better hands.

This is a HUGE problem that has gotten way worse then 1/2 yr ago - this problem was caused by Republicans pushing for DE-regulation of the banking industry/loans (1st time in 50? yrs...). Obama didn't create problem, Bush Adm. did. The war in Iraq started the spiral. C'mon people, get together already.

Dan - Clinton had a Dem majority in Congress during the 1st part of his admin and nothing got done. When the Repub's became the majority, the budget was balanced. Carter's policies utterly tanked the economy, and he governed w/ a Dem majority in both houses of Congress. If plans like solar energy work, then they don't need subsidies. (And I'm for solar, wind and wave power.) Speaking of which, wind power was blocked by the Kennedy's since it interfered w/ their view.

Wow, people, do you really want this world we are in right now? Remember, he is the leader, not the only person in DC. He has a HUGE council of economic advisors who are helping him. Lets give him and his administration a chance to push us up. And yes, sacrifice. Quit name calling and quit hating on someone who hasn't even made an executive decision yet. We have had 8 years of Bush's decisions, and I think we had a pretty good view of the republican status quo, lets see what the democrats can do. Good loving people, he hasn't even started yet.

I realize it is your right to complain all this time, but really, are you happy being this negative about EVERYTHING? You expressing your voice is what makes our contry great, but don't go too far people.

Has anybody noticed that all the message boards on ABC, CNN, and just about everywhere else are now devoid of the rabid pro-Obama comments? It's like 10-1 against Obama. I'm guessing that's because the majority of his constituency are not news readers and were only pursuing a passing fad. Like the latest reality show or fashion trend.

I think a lot of people who have placed comments do not know what the h... they are talking about.
First of all, Obama is not the President yet, but will be. I believe he has done more than any other President ELECT.
Let's work together and help this man get this country together. Give Mr. Obama a chance. You will be surprised. He has a lot left to him to deal with, not only here in America, but the world.

If BO wants US to sacrifice, WHY then doesn’t BO do a little sacrificing and not waste taxpayer dollars taking a I love BO train ride to Washington….. or scaling back his swearing in ceremony….. nahhhhhhhh Do as I say, not as I Do….

Time people: The Dem majority, read Barney Franks, utterly failed in their oversight of financial markets. As recently as last July, Barney declared Fannie and Freddie sound with no need for investigation.

AN IDEA TO HELP SAVE THE ECONOMY
Dear Barrack Obama and/or staff, elected officials, employers, and employees
My name is Jeremy S and I am an employer in the DC metro area. I have thought very hard about what I feel would help our economy in its time of need. Here is a brief outline of an idea that I believe might help us in the hunt for an economic crisis resolution. Please review it.
THE IDEA:
Create USFW “United States Federal Workforce” USFW would be a Federal workforce that would be run as an online database. “layed out similar to MySpace or Facebook” It would be created and funded in place of unemployment.

BASIC DESCRIPTION:
*USFW would be a network of unemployed people throughout the United States who would work on an as needed basis for businesses in need of employees, both temporary and full time.
*When a person is laid off from a job, instead of filing for unemployment they would go online and register for employment with USFW. They would build an online profile and describe the positions that they are best fit to perform. “profile/resume” They would begin work and/or start receiving paychecks immediately from USFW at a pay rate that is equal to the average of their last three years documented tax return income. (Capped at $70,000)
*In place of unemployment insurance all employers throughout the United States would pay the same percent “as paid to unemployment insurance” to USFW to fund the program.
*Each employer would receive a credit account through USFW where they would earn workers credits in the amount of “1 credit for every dollar paid in to fund USFW” Also they would be given the ability to buy additional credits, and would be offered incentive credits upon hiring new employees full time.
*At anytime through the online database, any employer could request workers from USFW. The employer could scan profiles and pick the profile of the worker that best fit their needs. They would set the requested time frame and click reserve employee button, and the credits needed for that employee would be deducted from that employers USFW credit account. The employee would be notified through the online database (or via US mail if required) as to the position requested and its location. “must be within 30 miles” The employee would be required to fulfill any work orders requested of them in order to continue receiving USFW paychecks. The employee would review and confirm the request and then report for work as detailed in the request.
*USFW would offer different levels of employees, and the employers will be able to review prospective employee profiles online and choose the one that works best for them. Each profile would detail the amount of points required for that employee, as determined by USFW.

THE REASONS IT WILL WORK:
1) It’s simple and low cost to set up. It will not cost tax payers, employers, government, or employees any more than they are currently paying, and possibly much less.
2) It will benefit everyone involved
a) Employees will begin working as soon as they are laid off from their pervious job, and they will continue to receive paychecks that are sufficient for paying all of their current expenses. This will protect their credit.
b) Employers will always take advantage of the use of the employees because at first they will look at it as free and/or discounted labor. This because the expense will not change their bottom line as they have been paying unemployment in surance along. Later they will begin to appreciate the fact that it will give them the ability to sift through applicants and build a strong permanent workforce. (which is a major challenge for employers)
c) Banks will reopen lending channels if they know that workers are guaranteed a paycheck even if they are laid off from their current job. This will also cut foreclosures significantly if workers are able to continue getting the same pay that they were earning before they were laid off.
d) It will help to keep people from getting discouraged and will keep them in the mind set of working.
e) It will eliminate people who try to take advantage of, or maximize the use of unemployment.
That is the basic concept; I think it could be a major step in solving our nation’s economic problem.
Example of how to pay for it: In this example there are 1000 employees in the United States, all employee gross wages are $100.00 and there are 20% unemployed. In this example employer’s contribution is 3% of gross pay to fund USFW. “as stated above, money paid by employer is in place of unemployment insurance”
800 “80%” people employed at $100 = $80,000. Employers pay 3% of $80,000 = $24,000 total paid to USFW
200 “20%” people unemployed a $100 = $20,000. If USFW pays 200 unemployed people the exact same $100 as they were making before being laid off. 200 X $100 = $20,000
$24,000 (USFW fund total) – $20,000 (money paid to 200 unemployed) $24,000 - $20,000 = $4000.00 surplus
This is an example of how the plan works even with as much as a 20% unemployment rate.
OPTION:
As an additional way to help stimulate hiring. The percent contributed by employers could fluctuate between .05% and 4% and could be based on the national unemployment rate.